Rosland Capital LLC, a Los Angeles gold and silver dealer founded in 2008, filed for Chapter 11 bankruptcy on July 2, 2026, in the U.S. Bankruptcy Court for the Central District of California. Court filings show Rosland Capital had no precious metals inventory and owed customers about $49 million for metal they paid for but never received, plus about $11.8 million in unpaid buybacks.
The Rosland Capital bankruptcy is a dealer story, not a gold story. Rosland Capital advertised nationally with actor William Devane and ran offices in London, Munich and Paris, yet customers lost money in the gap between paying for metal and receiving it. That gap is the first thing to examine before trusting any precious metals company. Customers who received their metal still own it; the losses fell on orders that were paid for and never filled. The checklist below shows how to examine that gap, and how Orion Metal Exchange answers each question.
What Happened to Rosland Capital?
Rosland Capital LLC filed a voluntary Chapter 11 petition on July 2, 2026. A first-day declaration summarized by Bondoro describes shrinking margins, a growing backlog of unfilled orders and a workforce that was almost entirely let go by June 19, 2026.
| Rosland Capital bankruptcy: quick facts |
What the filings show |
|---|---|
| Filed | July 2, 2026 (voluntary Chapter 11) |
| Court and case | U.S. Bankruptcy Court, Central District of California, Case No. 2:26-bk-16650 |
| Type of case | Liquidating Chapter 11: a court-supervised wind-down and sale of remaining assets |
| Paid orders not delivered | About $49 million, owed to about 484 customers |
| Unpaid buybacks | About $11.8 million, owed to about 133 customers |
| Creditors | About 650, of whom roughly 617 are customers |
| Precious metals inventory | None, according to the filing |
| Main remaining asset | Customer information, offered for sale through a court process |
| Disclosed investigations | New York Attorney General (sales through 2023) and U.S. Securities and Exchange Commission (SEC) (metal-backed IRA products), with no findings announced |
Is Rosland Capital Still in Business?
No. Rosland Capital is no longer in business as an operating dealer: substantially all employees were terminated before the filing, and the case is a gold dealer liquidation rather than a turnaround. In a reorganizing Chapter 11, a business keeps operating and proposes a plan to repay creditors over time. In a liquidating Chapter 11, the court oversees the sale of remaining assets and the distribution of the proceeds.
Latest Rosland Capital Bankruptcy News
Rosland Capital news and case milestones as of September 30, 2026:
- June 19, 2026: Rosland Capital terminated substantially all employees.
- June 27, 2026: The Rosland Capital compliance team had logged about 470 customer voicemails, emails and demands.
- July 2, 2026: Rosland Capital filed its Chapter 11 petition.
- September 29, 2026: A notice of the auction results for the customer information assets and a consumer privacy ombudsman report were filed with the court.
Why Rosland Capital Failed: Prepaid Orders Filled Months Later as Gold Rose
A common weak point in dealer failures is the time between a customer’s payment and the dealer’s purchase of the metal. The Rosland Capital filing, as TheStreet reported, describes that gap in detail:
- Customers paid up front at a fixed price. The price was set on the day of the order.
- Rosland Capital often bought the metal later. The filing describes a months-long gap between a customer’s payment and the purchase from third-party suppliers.
- Gold kept rising. Prices climbed from around $1,800 to $2,000 an ounce in 2023 to about $5,600 in early 2026.
- Each delayed order cost more to fill. When the replacement cost rose above what the customer had paid, the order lost money, and the backlog made the gap larger.
- Commissions were paid before delivery. Sales commissions of 15% to 35% of gross profit were paid when customer funds arrived, whether or not the order was ever filled.
- Margins shrank. Gross margin fell from 18.4% in 2021 to 8.7% in 2025, with more than $24 million in combined losses from 2022 to 2025.
Example (not an actual Rosland Capital order):
| Example | Amount |
|---|---|
| Customer prepays for gold at a fixed price | $10,000 |
| Cost to buy that same gold months later, after prices rise 30% | $13,000 |
| Dealer’s loss on the order, before any commission is paid | -$3,000 |
A dealer that buys or secures metal at the time of payment is not exposed this way. A dealer that sells first and buys later is effectively betting that prices will not rise, which is why timing is the first question in the checklist below.
What the Rosland Capital Bankruptcy Means for Customers
What happens to your gold if the dealer goes bankrupt depends on what you bought and where the metal is held. Most Rosland Capital customers fall into one of five situations.
| Your situation | What it generally means | What to do |
|---|---|---|
| You paid, but the metal was never delivered | You are generally a creditor with a claim for the money, not the owner of specific metal. A limited priority exists for consumer deposits on personal or household goods, currently up to $3,800 per person; whether it applies is for the court to decide. | File a proof of claim by the deadline. Keep every invoice, wire record and email. |
| You sold metal back and were not paid | You are on the Rosland Capital Buy Back List, which is also a creditor claim. | File a proof of claim showing the buyback confirmation and what you shipped. |
| The metal was delivered to you | The metal in your possession is yours. | Keep your invoices and delivery records for tax and resale purposes. |
| The metal was held for your IRA at an independent depository | IRA metal is held by your IRA custodian and stored at the depository, not by the dealer. | Contact your custodian directly and request a statement listing the depository and each item held. |
| The metal was “stored” by the dealer or not clearly in your name | It depends on the records. Allocated, segregated metal listed in your name is treated very differently from a general promise to deliver. | Ask for written storage records and speak with a bankruptcy attorney. |
The consumer deposit priority comes from 11 U.S.C. § 507(a)(7), and the current $3,800 limit took effect in April 2025 under a Federal Register adjustment. This section is general information, not legal advice; a bankruptcy attorney can review a specific claim.
How Rosland Capital Customers Can File a Claim
- Confirm the case. In re Rosland Capital LLC, Case No. 2:26-bk-16650, U.S. Bankruptcy Court for the Central District of California.
- Gather your documents. Order confirmations, invoices, wire or check records, account statements, buyback confirmations, shipping records and emails with Rosland Capital.
- File a proof of claim (Official Form 410). Customer notices are sent through the court-approved noticing agent listed on the case docket, which is available through Public Access to Court Electronic Records (PACER).
- Watch the claims deadline. A claim filed after the court’s deadline may not be paid.
- Ask for help. State consumer and securities regulators can explain the process, and a bankruptcy attorney can advise on an individual claim.
TMJ4 in Milwaukee reported on a 79-year-old Wisconsin woman who paid Rosland Capital $55,000 for gold and silver after seeing its TV ads. When her health declined in January and her family asked to liquidate, the family says it was told for months that the request was being looked into. Wisconsin officials pointed the family to the same three steps: find the court, find the case number and file a proof of claim.
What Rosland Capital IRA Customers Should Do
A Rosland Capital individual retirement account (IRA) customer’s metal was not supposed to be held by Rosland Capital. Internal Revenue Service (IRS) rules require IRA metal to be held by a trustee or custodian and stored at an approved depository, not at home or with the dealer.
- Contact your IRA custodian directly, not Rosland Capital, and request a current holdings statement.
- Confirm the depository name and that each coin or bar you paid for is listed.
- If you paid for IRA metal that was never purchased or delivered to the depository, that shortfall is likely a claim in the bankruptcy.
- To move the account, ask the custodian about a direct transfer. The Orion Metal Exchange guide on how to establish a precious metal IRA covers the process.
Consult your tax advisor regarding your individual circumstances before moving retirement funds.
Rosland Capital Lawsuits and Investigations
The best-known Rosland Capital lawsuit is Dennison v. Rosland Capital LLC, decided by the California Court of Appeal on April 1, 2020. An 82-year-old buyer said he was misled into four purchases of about $50,000 each after seeing TV ads, and that the coins were worth significantly less than he paid. The court did not decide whether he was misled; it ruled only that Rosland Capital could not force the dispute into arbitration, because the customer agreement’s dispute terms were unconscionable:
- An arbitration requirement that bound the customer but not Rosland Capital.
- Caps on Rosland Capital’s liability and limits on the damages a customer could recover.
- A one-year deadline to bring claims that applied only to the customer.
The customer agreement is part of the product. Read the dispute, liability and deadline terms at the time of purchase, not after a problem appears.
The Rosland Capital bankruptcy filing also discloses one customer lawsuit filed before the petition, a New York Attorney General investigation into sales to New York customers through 2023, described as relatively inactive, and an SEC investigation related to metal-backed IRA products. These are disclosed investigations, not findings.
Rosland Capital Reviews, Complaints and BBB Record
Rosland Capital reviews looked strong for years, which is part of why the collapse surprised so many customers. As of September 30, 2026, the Rosland Capital Better Business Bureau (BBB) profile shows Rosland Capital is not BBB-accredited, with 162 complaints in the past three years and 79 closed in the past 12 months.
| BBB complaint category (past 3 years) | Complaints |
|---|---|
| Product issues | 66 |
| Service or repair issues | 47 |
| Delivery issues | 16 |
| Sales and advertising issues | 15 |
| Order issues | 9 |
| Billing issues | 6 |
| Customer service issues | 3 |
Rosland Capital complaints filed in spring 2026 describe a consistent pattern: orders paid for and not delivered, refunds that arrived late or in part, and phone calls that went unanswered. Some Rosland Capital responses acknowledged the delays. These are consumer allegations, not findings by a court.
How to Read Precious Metals Dealer Complaints
- Look for patterns, not totals: Every large dealer has complaints. Repeated complaints about the same core promise, such as delivery, payment or buybacks, matter more than scattered ones.
- Check how recent they are: A sudden cluster of recent delivery complaints is a warning sign, even when older reviews are positive.
- Read the dealer’s responses: Specific dates and resolutions carry more weight than general apologies.
- Check the current status: Ratings and accreditations change, so use the live profile rather than a badge on a website.
Was Rosland Capital Legitimate?
Yes. Rosland Capital was a real, long-operating business, founded in 2008, that served many customers for years. People asking whether Rosland Capital was legitimate are usually asking whether it was safe, and the filing shows that a legitimate dealer can still fail operationally and leave customers with losses. No court has found that Rosland Capital committed fraud.
Who Founded Rosland Capital and Who Was Its Spokesperson?
Marin Aleksov, founder and CEO of Rosland Capital, started the business in Los Angeles in 2008. Rosland Capital gold and silver products included bullion, coins and precious metals IRA products, and Rosland Capital expanded to London in 2014 and to Munich and Paris in 2021. Revenue reached about $151.2 million in 2021 and fell to $97.8 million in 2025.
Most Americans knew Rosland Capital through its spokesperson, actor William Devane, who appeared in Rosland Capital TV commercials from 2014. Searches for William Devane gold still lead to those ads. The Rosland Capital filing lists Fox News Network among its largest unsecured creditors, at about $1.9 million.
National advertising builds recognition, but it does not show whether a dealer can deliver, and heavy marketing is a cost that can end up in customer prices. Orion Metal Exchange covers this in the hidden costs of celebrity gold ads and why bigger isn’t always better.
How to Choose a Precious Metals Dealer: 8 Questions the Rosland Capital Case Says to Ask
Most advice on how to choose a precious metals dealer focuses on reviews and pricing, and both still matter. The Rosland Capital case adds questions to ask before buying gold from a dealer that target the exact points where customers lost money. These questions build on published checklists from the Commodity Futures Trading Commission (CFTC) and the Federal Trade Commission (FTC).
| Ask this | Why the Rosland Capital case shows it matters | A good answer |
|---|---|---|
| 1. When will you buy my metal, and when will it ship? | Orders paid months before the metal was bought became a $49 million shortfall. | A specific shipping window, in writing, on your invoice. |
| 2. Can I see the final price of each product, and any separate fees, in writing before I pay? | The CFTC calls fees that are not available in writing before a purchase a red flag. | A written quote showing the price of each product and any shipping, storage or account fees, before any payment. |
| 3. How does your buyback work, and how fast do you pay? | About 133 Rosland Capital customers who sold metal back are owed about $11.8 million. | A written buyback policy covering how the price is set, any deductions and payment timing. |
| 4. Who will hold my metal? | Prepaid orders became claims, while delivered metal and IRA metal at a depository did not. | Home delivery, or storage at a named independent depository with records in your name. |
| 5. What does the customer agreement say about disputes? | A California appeals court found the Rosland Capital dispute terms one-sided in 2020. | Fair, mutual terms you can read before signing. |
| 6. What do recent complaints say? | Rosland Capital delivery complaints clustered in 2026, months before the filing. | Few recent complaints about core promises, with specific resolutions. |
| 7. Is anyone pressuring me or promising returns? | The FTC warns that urgency and claimed credentials are common in precious metals scams. | No deadlines, no guarantees and time to think it over. |
| 8. Am I buying investment-grade bullion or collectibles? | Collectible and proprietary coins often carry higher premiums and can be harder to resell. | Clear labeling of bullion, semi-numismatic and collectible products. |
For the product question, see the Orion Metal Exchange guides to spot price, bars, coins and numismatics and investment-grade gold coins. For a broader checklist, read how to research a precious metal company.
How to Compare Precious Metals Buyback Offers
The unpaid Rosland Capital Buy Back List shows that a buyback price is only half the story; the other half is whether, and when, the seller is paid. When comparing buyback offers:
- Compare net proceeds: Look at the amount you will receive after every deduction, not the headline quote.
- Ask about inspection conditions: Find out whether the quote can change after the dealer receives your metal, and on what grounds.
- Confirm shipping terms: Know who pays for insured shipping, and for return shipping if you decline a revised offer.
- Question unusually high quotes: An inflated preliminary quote followed by deductions after your metal arrives can leave you with less than a lower, firm offer.
The Orion Metal Exchange guide to selling gold coins covers the sale process, and taxes when selling gold or silver explains the tax side.
The Practical Takeaway: Five Things to Get in Writing From Any Dealer
Rosland Capital did not fail because gold failed; Rosland Capital failed in the gap between taking customers’ money and delivering their metal. For any precious metals purchase, confirm:
- The timing, including when your metal will be purchased and shipped.
- The full price of each product, plus any separate fees, in writing.
- The buyback terms, including how the price is set and how quickly sellers are paid.
- Who holds your metal, with records in your name.
- The customer agreement and recent complaints, reviewed at the time of purchase.
Rosland Capital FAQs
Is Rosland Capital a Scam?
No court has found that Rosland Capital committed fraud. Customers have made serious allegations, and the bankruptcy filing discloses New York Attorney General and SEC investigations, but neither has produced a public finding.
Who Owns Rosland Capital?
Marin Aleksov founded Rosland Capital in 2008 and led it as CEO. Rosland Capital is now in a liquidating Chapter 11 overseen by the U.S. Bankruptcy Court for the Central District of California.
Who Was the Actor in the Rosland Capital Commercials?
Actor William Devane was the Rosland Capital TV spokesperson starting in 2014. The court filings reviewed for this article describe no role for William Devane in Rosland Capital operations and say nothing about whether he bought gold from Rosland Capital.
Is There a Rosland Capital Class Action Lawsuit?
As of September 30, 2026, no certified class action has been found, and the bankruptcy filing disclosed one customer lawsuit. For most customers, recovery will run through the bankruptcy claims process.
How Do I Contact Rosland Capital Customer Service Now?
Rosland Capital terminated substantially all employees in June 2026, so there is no regular customer service line. Customers should follow notices from the court-approved noticing agent and check the case docket on PACER.
Where Can I Find the Rosland Capital Bankruptcy Docket?
The case is In re Rosland Capital LLC, Case No. 2:26-bk-16650, in the U.S. Bankruptcy Court for the Central District of California, and filings are available through PACER.
Is Rosland Capital a Good Place to Buy Gold Now?
No. Rosland Capital is winding down under court supervision, so buyers should compare active dealers using the eight questions above.
What Were Rosland Capital Gold Prices Like?
Rosland Capital no longer sells metal, so its past prices are not a useful benchmark. When comparing active dealers, ask for the total price of each specific product in writing and compare the same product across established dealers. Every physical coin or bar sells above spot, reflecting refining, minting and distribution, so the useful comparison is like for like. Also confirm the buyback terms before you buy. The Orion Metal Exchange overview of gold and silver market pricing explains how those pieces fit together.
Has a Gold Dealer Gone Bankrupt Before?
Yes. Lear Capital filed for bankruptcy in Delaware in 2022 while facing lawsuits from Los Angeles and New York over fee disclosures, a different set of allegations from the Rosland Capital case.
How Do I Know if a Gold Dealer Is Reputable?
Check the dealer’s current BBB profile, recent complaint patterns and years in business, and get written answers on pricing, delivery timing, buybacks and storage. The CFTC also recommends checking complaint history with your state attorney general or securities regulator.
How Orion Metal Exchange Can Help
Orion Metal Exchange answers the same questions for its own customers:
- Products: Orion Metal Exchange focuses on investment-grade bullion coins and bars. It does not sell collectible or proprietary coins.
- Pricing: Orion Metal Exchange publishes live online product pricing and confirms each product and price by phone before an order is funded.
- Buybacks: Orion Metal Exchange offers a commission-free buyback policy with no liquidation fees. Sellers receive Orion’s current buyback price for that product at the time of liquidation, confirmed by phone, and payments are processed within 4 to 7 business days after the metals arrive.
- Storage: Orion Metal Exchange offers insured, trackable home delivery or storage at an insured commercial depository. For IRAs, the Orion Metal Exchange in-house IRA department helps customers work with an IRS-approved custodian and depository, such as Brink’s, Delaware Depository Service Company (DDSC) or International Depository Services (IDS), and does not recommend home storage for IRA metals.
- Reputation: Orion Metal Exchange holds an A+ rating on its BBB profile and has been BBB-accredited since March 9, 2021, as of September 30, 2026.
If you received metal from Rosland Capital and are considering selling, Orion Metal Exchange buys investment-grade bullion even when it was purchased from another company. If you hold Rosland Capital IRA metal at a depository, Orion’s in-house IRA department can explain how a direct transfer works. For questions about either, or about Orion’s buyback process and pricing, contact Orion Metal Exchange or call 1-800-559-0088.
Important Disclosure
This article provides general education about the Rosland Capital bankruptcy and about choosing a precious metals dealer. It is not tax, legal, accounting, financial, investment, or trading advice, and it is not a recommendation to buy, sell, or hold any precious metal. Orion Metal Exchange does not provide financial or tax advice.
Precious metals prices fluctuate and can be volatile, and past performance does not guarantee future results. Bankruptcy claims and tax outcomes depend on individual facts, so consult a qualified attorney, tax advisor, or financial professional before acting.
