Conservative commentators like Megyn Kelly and Donald Trump Jr are promoting gold investments through companies like Birch Gold Group, but federal regulators and investors have filed over a dozen cases alleging fraud and excessive fees. As gold prices have more than doubled to $4,677 an ounce, investors claim they've been charged markups of 65% or more on coins, drastically reducing their returns.

Rob Linebarger, a former Navy officer, invested $350,000 with Birch Gold after hearing endorsements from Trump Jr and Steve Bannon on their podcasts. He's now suing the company for alleged overcharges of nearly $100,000. Other investors report similar experiences, including Allison West, who saw her $350,000 investment immediately lose $130,000 in value due to undisclosed fees on "fixed mintage" coins.

Federal courts have frozen assets of companies like Metals.com after finding they defrauded 1,600 seniors out of $185 million through markups of 100% to 312%. While some gold dealers claim their margins are among the lowest in the industry, critics argue the involvement of government mints in producing limited-run collector coins has created opportunities for exploitation of mostly elderly conservative investors.