About Merit Gold
Whether you’re a seasoned investor or a market newcomer, if you’re interested in diversifying your investment portfolio with precious metals, Merit Gold claims to be the most trusted name in America. According to the company, they help their clients make sound investment decisions based on up-to-date information, and to “maintain some of the highest buy-back prices available.”
The company claims that most of their clients are looking to strengthen their portfolios, and that they come to the company either in response to one of their advertisements, or as a referral from another Merit client.
If this sounds like you, what can you expect as a Merit Gold client, and should you invest your hard-earned money with them? Let’s “go for gold” and take a closer look.
Quick Facts About Merit Gold & Silver
A division of Seacoast Coin, Inc., Merit Gold is based out of Santa Monica, CA, and has been in business since 1986. Similar to Lear Capital, the company offers several different products across five different categories:
- Gold – Bars, coins, common and premium (numismatic) bullion.
- Silver – Bars, coins, common and premium (numismatic) bullion.
- Platinum – Premium bars.
- Palladium – Premium coins and bars.
- IRA – Retirement investments partially or wholly backed by physical precious metals. The company claims that you should seriously look in to this option, as it can represent a balanced part of your portfolio. Merit Gold claims they can have your IRA up and running in about 20 minutes.
In addition, the company provides a specials section on their website that changes on a regular basis, as well as data-driven market updates, commentaries, and even daily and weekly radio programs.
If you’re ordering a physical product, Merit Gold claims that these can be obtained in three easy steps:
- Choose Your Product – Pick the items you’d like to purchase and contact your Account Representative. During this call, your representative can walk you through the process, and can make recommendations based on your specific needs. If you don’t see a product and would like to make a special request, you can do so at this time. Finally, Merit Gold claims to feature in-house numismatists that can assist if needed.
- Make Your Payment – This can be accomplished via check or wire transfer, though total turnaround time can be affected by transaction type.
- Receive Your Product – Merit Gold claims that most products are shipped from the company within 21 days of order placement.
If you’re an investor on the go, Merit Gold also provides Google & iDevice apps.
Merit Gold Pricing & Refund Policy
Due to the variety of products and services offered by Merit Gold, prices vary. However, in general, bullion is priced at 1% over dealer cost, although there is a $1,500 minimum order. On top of this, you may also qualify for no admin or storage fees for the first year that your account is active.
From a shipping perspective charges can vary, though all physical product orders are fully insured during transit.
Unless incorrect/damaged items are received, no refunds are provided on bullion or numismatic coins under any circumstances.
To open an account or ask questions, contact an Account Representative at 800-515-5019
What Do Other Consumers Have to Say About Merit Gold?
Merit Gold & Silver does not have a Better Business Bureau rating, although they do have a 5-star TrustLink rating. With this said, some of the most common complaints we uncovered during our research included:
- Pushy sales processes – Representatives convinced customers to purchase something other than what they initially called about, high commission structure, etc.
- Long shipping times – This is highly dependent on the market accessibility of your product, so it’s feasible that shipping may take longer than originally quoted. However, we did read of some excessive shipping times.
- Poor customer service – Difficulty reaching a representative after an order was placed, unreturned phone calls/emails, etc.
What’s the Bottom Line About Merit Gold & Silver?
It almost goes without saying, but as with any other investment option, precious metals entail a certain level of risk. But is Merit Gold worth it? Probably so, though you should keep the following in mind:
First, as we mentioned in our Lear Capital review, numismatic coins are typically not considered solid investment options, unless you’re already very savvy about this corner of the market. Instead, it may be best to stick with bullion.
Second, most calls to Merit Gold are recorded, and verbal purchase orders are considered binding. In other words, you’ll be responsible for your order before signing any paperwork, which means that you shouldn’t call and place an order unless you’re absolutely sure you’re making the right decision.
Finally, although Merit Gold seems to have a fairly low number of complaints, especially considering the length of time they’ve been in business, you may experience relatively poor customer service, and/or long shipping times at some point. However, as long as you make sure you don’t perform any emotion-based trades and stay on top of your Account Rep, Merit Gold seems to represent a solid option.
Have you been a Merit Gold customer? If so, share your experience and write a review today!