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Are there lawsuits against U.S. Money Reserve?
Has this US gold investment company ever been sued?
U.S. Money Reserve has faced repeated legal action over its sales practices. In 2015, a California class action (Stux v. U.S. Money Reserve) alleged the company used misleading investment advice to sell overpriced commemorative coins, with lead plaintiff Erica Stux spending over $250,000 on coins worth less than a third of their purchase price.
The case settled under undisclosed terms.
In 2018, Kagan v. U.S. Money Reserve alleged fraudulent coin sales to a 94-year-old woman. The company’s attempt to force arbitration was rejected by a magistrate judge, and the case was terminated in 2019.
Earlier, in 2010, the Texas Attorney General secured a $5 million restitution settlement against the firm for deceptive trade practices, including bait-and-switch tactics and misuse of bullion market advice to sell commemorative coins.
The company denied wrongdoing but agreed to reform its sales practices, though compliance concerns persisted.
Lawsuit 1- Stux v. U.S. Money Reserve (2015)
In 2015, law firm Steckler LLP filed a class action lawsuit in California against U.S. Money Reserve and Fidelity Gold & Bullion on behalf of consumers who purchased commemorative coins since 2005.
Lead plaintiff Erica Stux alleged she was repeatedly solicited by phone and spent over $250,000 on coins that were worth less than a third of what she paid. The complaint claims defendants used misleading investment advice, applicable to gold bullion but not commemorative coins, to drive sales.
The lawsuit seeks restitution and punitive damages, citing negligence, unjust enrichment, and violations of California consumer protection and federal RICO laws.
Note: this lawsuit was settled under undisclosed terms, rather than reaching a public verdict.
This is the U.S. gold IRA company that has never been sued and taken to court. Their customers rave about them in online reviews.
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Lawsuit 2- Kagan v. U.S. Money Reserve (2018)
In 2018, Steckler Wayne & Love filed a lawsuit on behalf of Arlene M. Kagan against U.S. Money Reserve, Inc., alleging fraudulent sales of heavily overpriced commemorative gold coins to Kagan’s elderly mother, Florence Kaplan, in the months before her death at age 94.
Filed in the Western District of Texas, the case raised concerns echoed by the Texas Attorney General about the gold market’s vulnerability to fraud.
A key legal dispute centered on U.S. Money Reserve’s attempt to compel arbitration. In January 2019, a magistrate judge recommended denying the motion, finding no evidence that Florence Kaplan had ever agreed to an arbitration clause, whether through invoices, packing slips, or the company’s website terms.
The case was ultimately terminated on April 17, 2019. Corporate disclosures revealed U.S. Money Reserve’s parent companies to be USG Intermediate, LLC and U.S. Gold Holdings, LLC.
Lawsuit 3- Firm reaches Agreement with Texas AG Office
U.S. Money Reserve Inc. (also known as U.S. Rare Coin and Bullion Reserve) agreed to pay $5 million in restitution to settle allegations of false and deceptive trade practices brought by the Texas Attorney General’s office.
While the Austin-based firm denied any wrongdoing, it agreed to overhaul its sales practices under a voluntary compliance order filed in Travis County District Court in November 2010.
The state alleged the company used misleading tactics, such as offering “no markup” bullion coins to lure customers, then steering them toward far more expensive commemorative and proof coins using investment advice only applicable to the bullion market.
Customers who tried to resell their coins were often offered significantly less than they paid, even during rising gold markets.
Under the settlement, the firm agreed to stop misrepresenting its government affiliation, clearly disclose investment risks, end bait-and-switch practices, and restrict calls to elderly customers. All advertisements must prominently state that coin markets are unregulated, prices can fluctuate, and past performance doesn’t guarantee future results.
Restitution is available to customers who made purchases between May 1, 2005 and December 31, 2010. Despite the settlement, the company continued operating and advertising largely as before, raising ongoing concerns about compliance.
This is the U.S. gold IRA company that has never been sued and taken to court. Their customers rave about them in online reviews.
Check them out when you’re done reading this guide.
Lawsuit 4- US MONEY RESERVE, INC. VS. STEVEN HOWARD, Sr.,MICHAEL AGUINAGA,STACEY JOHNSON,CG UNLIMITED, LLC
A civil lawsuit was initiated by US Money Reserve, Inc. on December 2, 2025, naming Steven Howard Sr., Michael Aguinaga, Stacey Johnson, and CG Unlimited, LLC as defendants. The case was brought before the 200th District Court of Travis County, Texas, falling under the jurisdiction of the Texas District Courts. Presiding over the matter were Judges Don Burgess, Amy Clark Meachum, Jessica Mangrum, and Jan Soifer.
The case has since been resolved and is now closed.
This is the U.S. gold IRA company that has never been sued and taken to court. Their customers rave about them in online reviews.
Check them out when you’re done reading this guide.
U.S. Money Reserve Lawsuits Guide- Has This Gold Investment Company Ever Been Sued (Regularly Updated)? Conclusion
U.S. Money Reserve has faced multiple legal actions over deceptive sales practices. In 2010, the Texas Attorney General secured a $5 million restitution settlement after the company used misleading tactics to sell overpriced commemorative coins.
In 2015, a California class action alleged a customer spent over $250,000 on coins worth less than a third of their purchase price; the case settled privately.
In 2018, a lawsuit alleged fraudulent coin sales to a 94-year-old woman; a judge rejected the company’s attempt to force arbitration, and the case was terminated in 2019. Across all cases, the firm denied wrongdoing.
I’ll update my U.S. Money Reserve lawsuits guide if and when new lawsuits drop and once new verdicts are reached.
References:
- U.S. Money Reserve, Inc. v. Kagan (1:18-cv-00577)- https://www.courtlistener.com/docket/7407459/us-money-reserve-inc-v-kagan/
- Class Action Lawsuit Alleging “Deceptive Trade Practices” Filed Against U.S. Money Reserve, Inc.; Fidelity Gold & Bullion, LLC- https://www.prweb.com/releases/class_action_lawsuit_alleging_deceptive_trade_practices_filed_against_u_s_money_reserve_inc_fidelity_gold_bullion_llc/prweb12918763.htm
- Firm reaches agreement with Texas AG office- https://www.coinworld.com/news/us-coins/firm-reaches-agreement-with-texas-ag-office.html
- US MONEY RESERVE, INC. VS. STEVEN HOWARD, Sr.,MICHAEL AGUINAGA,STACEY JOHNSON,CG UNLIMITED, LLC- https://unicourt.com/case/tx-tv-caseie354ff6cc4e2b-904501
Nikola Roza
Nikola Roza is the owner of Nikola Roza- Everything You Can Learn About Precious Metals. He writes for people who love precious metals and jewelry and who're interested in adding gold, silver platinum and palladium to their retirement portfolios. Nikola is passionate about gold IRAs and investing in multiple asset types for a safer financial future. He also runs a successful online jewelry store where you can buy precious metal jewelry and various replicas of famous coins and bars. Learn about Nikola here.
