Merit Gold & Silver Review

Merit Gold & Silver was established in the mid 1980’s, making it one of the older precious metals companies in the industry. Their website is very informative, potential investors can learn a great deal about gold investing through browsing their website.

My Opinion On Merit Gold & Silver

Despite being in business for 30 years I never even called Merit Gold. I did quite a bit of research online and what I saw was enough to prevent me from picking up the phone. I listed my findings below on how they performed on major consumer review sites.

Merit Gold Better Business Bureau Rating (BBB) & Review

I found this very odd; Merit Gold is not accredited with the BBB and therefore has no ranking. For a company that has been in business for three decades not having a BBB rating was the first red flag.

http://www.bbb.org/sanjose/business-reviews/gold-silver-and-platinum-dealers/merit-gold-and-silver-in-santa-monica-ca-35001324

Merit Gold Business Consumer Alliance (BCA) Rating & Review

After looking up Merit Gold on the BCA is when I decided it wasn’t even worth my time to call. Even though they maintain an AA rating there have been 56 complaints in the last three years.

The complaints were startling; one of the more recent is below.

“So far, no one has the authority (or is willing) to return my funds. At the moment, I have over $18k tied up for over a month (I wire transferred to Merit) and I still don’t know when I might receive. Everyone at Merit ‘understands’ but no one has the answer. I can’t be put in touch with the person that can make the decision. I bought depending on them meeting the delivery date. I am now out of town on an extended trip, part of which was the delivery of the product to be delivered to me by Merit. What happened to ‘we messed up and did not deliver as promised, we will return your funds asap’. Evidently that’s ‘not company policy’ at Merit. Plenty of excuses/rationale, short on action. You’re the seller, you did not deliver as stated. I relied on that, the issue should be ‘what do I prefer as a resolution’. not ‘what’s Merit internal policy’. RUN, don’t walk if you are considering business with these folks.”

There are numerous other complaints of an equally disturbing nature, you can view the link below to do further research yourself.

http://www.businessconsumeralliance.org/Report/Gold-Silver-and-Platinum-Dealers/Merit-Gold-and-Silver-in-Santa-Monica-CA-35001324

Merit Gold Trustlink Rating

Merit Gold actually scores rather well on Trustlink. They show almost 700 reviews! The majority are good reviews, however I did spot the odd negative review when scanning through them.

So when looking at Trustlink alone their reputation seems very solid, but when looking at all the review sites as a whole a different picture is painted. This is why I always check out multiple sources when reviewing a company.

http://www.trustlink.org/Reviews/Merit-Gold-and-Silver-Merit-Financial-205887891

Why I Did Not Choose Merit Gold

The initial draw for me to Merit Gold was that they have been around for a long time. Oftentimes reputable companies do not stay in business for three decades.

However when doing my online research there were just too many red flags for me to trust them. No BBB rating or accreditation and a high volume of disturbing complaints on the BCA were enough for me to decide they weren’t the company I was going to choose.

Which Gold IRA Company Did I Chose?

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It took me months and many phone calls to finally select a company. In the end I confidently trusted Regal Assets. There are a number of reasons I chose Regal Assets, you can read my full Regal Assets review here.

Every conversation I had with my rep from Regal Assets was not only informative but also very helpful throughout the process. I was very impressed with their customer service; however the deciding factor to choosing Regal Assets over the other companies I contacted was the overwhelming social proof.

An A+ BBB rating, an AAA BCA rating, over 400 5-Star reviews on TrustLink, notable mentions and ratings in highly respected publications, an honest and knowledgeable customer support and a customer friendly, easy to understand fee structure are the reasons I invested with Regal Assets.