Home Gold IRA company reviews Merit Gold And Silver Company Review

Merit Gold And Silver Company Review

    Overview

     
    Merit Gold
    Official Websitewww.MeritGold.com
    Phone Support800-515-5019
    BBB Accredited RatingNo Rating (Being Updated)
    BCA Accredited RatingAA
    BBB ComplaintsN/A
    BCA Complaints59
    Total Complaints59
    TrustLink Reviews
    based on 676 reviews
    IRA Transfer Process7-21 Business Days
    401(K) Rollover ProcessUnknown
    Metals Delivery10 days
    Setup Fees$145
    Annual Admin Fees$150
    Annual Storage Fees$100
    Preferred CustodianEntrust
    Preferred DepositoryDelaware Depository
    Min Purchase Amount$5,000
    Physical IRA Application
    Digital IRA Application
    U.S. Mint Listed Dealer
    ICTA Membership
    Norton Secured
    PromotionsWaives 1st year fees.

    Merit Gold And Silver About & Background

    Merit Gold was founded in 1986 by Peter Epstein. Since its start Merit Gold claim to have worked with 250,000 clients.

     

    Merit Gold And Silver TrustLink reviews

    5 star rating
    Merit Gold & Silver are rated 5 stars on TrustLink, based on 673 reviews (June 2014).
    What’s TrustLink?
    Founded by the Better Business Bureau in 2008, TrustLink is a forum for consumer compliments and complaints. They uses redundant fact-checking systems so that consumers can depend on the quality of posted ratings and reviews. Consumer reviews are posted without editing and consumers can see exactly what other consumers think about companies. Unlike other online review portals no business can pay for a rating or post their own reviews.Using these practices, TrustLink has quickly become one of the most trusted sites on the web.

    Merit Gold And Silver BBB (Better Business Bureau) review

    N/A. Merit Gold & Silver is under review by the Better Business Bureau for its practices and complaints. There are, however, 50+ complaints filed with BCA (see below).

    What’s BBB rating?
    For more than 100 years, BBB has helped consumers find businesses they can trust. Companies are graded from A+ to F through 16 different variables such as “time in business”, “competence”, “complaints” and “background information”.

     

    Merit Gold And Silver BCA (Business Consumer Alliance) review

    50+ complaints. Rated AA.

    Complaint Closing Statistics (last 3 years)

    No. of Cmpl Type of Response
    14 Making a full refund, as the consumer requested
    0 Making a partial refund
    27 Agreed to make an adjustment
    0 Refusing to make an adjustment
    12 Refuse to adjust, relying on terms of agreement
    0 Unanswered
    0 Unassigned


    What’s BCA rating?
    The Business Consumer Alliance, Inc. is a non-profit organization founded in 1936. The Business Consumer Alliance provides free services to consumers to learn everything they need to know about a business before engaging with them. The purpose of BCA is to promote business self-regulation. Through a sophisticated algorithm that evaluates several different aspects of businesses, BCA is able to assign letter grades, ranging from AAA to F which assists the public in identifying reputable or disreputable companies.

    Merit Gold And Silver Complaints

    There are 50+ complaints filed with The Business Consumer Alliance. There are also several reports on The Rip Off Report and Complaints Board. One customer says that he had to wait 123 days for delivery and that the Merit Gold sales representative hung up on him repeatedly. Other complaints range from bait and switch sales tactics and even elder abuse. There’s also been complaints from customer who have placed orders and later found that the prices of silver coins have increased significantly.

    Bait and switch fraud scheme lawsuit

    On February 13, 2014, a consumer protection lawsuit was filed by the Santa Monica Attorney’s office against Merit Gold and Silver. The complaint was filed with the Superior Court of the State of California in Los Angeles County and alleges that Merit Gold and Silver has been involved in an aggressive fraud scheme across the nation that has taken consumers for tens of millions of dollars.

    Pricing and storage fees

    Setup Fees $145
    Annual Admin Fees $150
    Annual Storage Fees $100

    Delivery, 401K Rollover & IRA Transfer process

    If you transfer your existing IRA to Merit (and setup a gold IRA) the process will take approximately 7-21 business days.
    We have not been able to find any information about 401(K) rollover process and recommend that you contact Merit to learn more. Metal Delivery takes 10 business days.

    Merit Gold And Silver Coins

    Featured products on Meritgold.com include 1 oz Gold Bars, BU 1/4 OZ Gold Britannia, American Eagle 1/2 OZ, Gold American Eagle and French 20 Franc. See a full list here.

     

    2.5 / 5 stars     
    Review overview
    TrustLink rating
    BBB rating
    BCA rating
    Fees
    Customer Service
    IRA Transfer Process
    Customer Complaints
    Summary
    600+ positive TrustLink reviews and really competitive fees. AA rating with the BCA. No BBB rating as Merit are currently under review by the Better Business Bureau (BBB). We do not recommend doing business with Merit until they've been fully evaluated by the BBB. A total of 60 complaints with the BCA. These complaints range from delayed product delivery, bait and switch tactics and even elder abuse. There's also been complaints from customer who have placed orders and later found that the prices of silver coins have increased significantly. Bait and switch fraud scheme lawsuit: On February 13, 2014, a consumer protection lawsuit was filed by the Santa Monica Attorney’s office against Merit Gold and Silver. The complaint was filed with the Superior Court of the State of California in Los Angeles County and alleges that Merit Gold and Silver has been involved in an aggressive fraud scheme across the nation that has taken consumers for tens of millions of dollars.
    2.7

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