Merit Gold is a key player in the gold and precious metals sector. The company started in 1986; they claim to have effectively helped 250,000+ customers with the purchase and sale of gold and other precious metals since.
Among the business’s principal functions is clearly understood pricing, along with investor education on the best ways to purchase precious metals and coins for general invested savings and inclusion in an Individual Retirement Account IRA.
Products Available With Quality Gold
Merit Gold offers a wide range of precious metal items, including gold, silver, platinum, and palladium. These are the metals currently accepted by the Internal Revenue Service (IRS) as part of a precious metals IRA account.
Investors can chose the type and price range of the precious metals available for their account. Merit Gold website has a convenient side-by-side comparison to assist in making the best choice to achieve their investment goals.
Location and Hours of Operation
Merit Gold is principally an online business; nevertheless, they have offices in Los Angeles. Hours of operation are Monday to Friday from 7:00 a.m. until 7:00 p.m. and Sunday 9:00 a.m. until 3:00 p.m. Pacific time.
Customer support representatives are available during published operating times for assistance in opening an account and to assist in precious metals selection. The Merit Gold website has the email and toll free numbers.
Merit Gold Precious Metals Individual Retirement Account
An IRA account is available through the Merit Gold website by simply filling out the IRA Request Form. The account has various package sizes for precious metal IRA’s. Packages start as low as $5,000, increasing to over $100,000, or, you can just open an account and add an investment at a later time.
How to Buy and Sell Precious Metals With Merit Gold
If you are a newbie in the precious metals market, Merit Gold has a simple procedure that will guide you through the process of adding these valuable assets to your IRA account.
An account executive and the investor will start the program by discussing the investment goals and what the IRA intends to achieve. This will give a clearer picture of what the investor is trying to accomplish and thereby more clearly define what would be the best precious metal selection to accomplish the aim. When the chosen precious metal is purchased, it is immediately fully insured until arrival at the investors destination, keeping the investment safe.
Merit Gold Ratings
Better Business Bureau
At this time, the Better Business Bureau (BBB) is reviewing Merit Gold. As a result, the business has not rated; however, there is a government action pending that has not yet been proven. The government lawsuit accuses Merit of a “bait and switch” scam. There have been a total of 13 complaints, all of which are closed.
TrustLink’s rating for Merit Gold is 5 stars out of 5. This high mark is reward for the firm’s consistency and the variety of high client praise for its customer support.
Business Consumer Alliance
The Business Consumer Alliance (BCA) has ranked Merit Gold an A, in spite of Merit receiving 61 complaints within the past 3 years. BCA’s history of complaints shows that Merit has properly dealt with the complaints. With a number of the complaints, Merit Gold was asked for a full refund and fully complied as the investor asked.
Investor Complaints and Problems
Some of the key issues that have been submitted against Merit Gold involve slow delivery of the firm’s products, as well as particular “bait and switch” advertising and marketing schemes. It is essential to be fully conversant with the products purchased and especially those items bought based on specific promotions.
Merit Gold Reviews and Testimonials
Not withstanding the foregoing, the firm has many long term satisfied investors. Many have posted positive testimonials. Some selected ones are:
” I went through Merit Gold & Silver a month ago and requested Gold and Silver American Eagles that were shiny and in pristine condition. That is exactly what I got. The Coins were 2013 and 2014 Coins and I feel great just holding then. So I ordered another set of Gold & Silver Eagles and again I got exactly what I wanted. As before I went through Charly Chartoff and I can definitely recommend him as a knowledgeable and helpful Executive. After twice going through Merit and being very satisfied both times, Merit now has my trust..”—Chuck K. (Source).
” I’m 73years old have been a CSR rep all my life. Paul was exceptional he made sure I understood every transaction before we moved forward. You have got a winner with Paul. He goes out of his way to do a very good job. Thank you Sharron M”– Winefred M. (Source).
Merit Gold Advantages and Drawbacks
When thinking about purchasing precious metals from Merit Gold, there are both advantages and downsides to choosing this business. On the plus side, the firm has a large amount of experience in the gold and precious metals industry. With close to three decades in the business, the company has a very large product inventory from which investors can choose. Their service reps are also very experienced and can give reputable guidance for precious metals investments.
Regrettably, there are accusations of luring customers with a “bait and switch” type of advertising campaign. For this reason, it is very important for investors, particularly first time investors, to be aware of the “fair market” prices of products.
The bottom Line
When establishing which IRA account precious metal supplier to use, it is vital to do your “due diligence” research. This consists of the firm’s rating, available inventory of candidate materials and its investor testimonials.
While Merit Gold does have an acceptable reputation, it would be prudent to compare it with other industry notables such as Regal Assets that has a better reputation with customers and a higher IRA investor rating.
Also be sure to read our thorough review of Regal Assets, which is our #1 recommended gold dealer online.