Merit Gold Review

*Update*: Merit Gold is Officially Closed


merit gold
Phone Support800-515-5019
BCA Accredited RatingAA (On a scale of AAA to F)
BCA Complaints59
BBB Accredited RatingNo Rating (Being Updated)
BBB ComplaintsN/A
TrustLink Reviewstl_5stars_lg(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
TRUSTe Verified
Norton Secured
PromotionsWaives 1st year fees.

Merit Financial/Merit Gold is a well known and established precious metal investment firm. Its headquarters are in Santa Monica, CA, and it purports to have served more than 250,000 customers. The company’s customer service reps are contactable by email, and on a toll free phone line during normal business hours. The firm offers a wide range of products including silver, gold, palladium and platinum bars and coins.

Complaints and Ratings

girl handling complaintsCurrently, the Better Business Bureau (BBB) are updating their website, so they have not given Merit a rating. However, Trustlink have given the firm a five star rating, which is based on 648 reviews. The majority of these reviews emphasize the firm’s quality products, good service, efficient customer support, polite staff and quick shipping. The Business Consumer Alliance (BCA) has given the firm a AAA rating as well.

Nonetheless, the BCA’s assessment of Merit also highlights the fact that the firm has received more than seventy complaints over the past few years. These complaints have centered around overpriced coins, delayed deliveries for metals, and bait and switch style strategies with regards to the kinds of coins recommended. The BCA reports that most of the firm’s complaints have been correctly handled (i.e. customers have received full refunds, or adjustments to their accounts). Notwithstanding, at least seventeen of these complaints did not result in a customer refund or account adjustment. Moreover, one customer complained to the Ripoff Report website that his metal delivery was delayed by 123 days. Finally, on Yelp, the firm has a two star rating, because of a complaint from a customer who purchased silver and could not get his order processed.

Investment Services

Merit helps its customers to open gold IRA accounts, and the entire process only takes about twenty minutes. One useful feature of the firm’s investment service is that it provides customers with access to live market data (displaying fluctuations in the market) directly on its website. Also, the firm offers bespoke portfolio management services, based on market trends and customer specific assets. Merit provides a range of options with regards to precious metal investments too. This includes rare gold bullion and semi numismatic coins. The firm does not charge customers for “buying back” their gold and converting it into cash.

Protection for Gold Deliveries

gold storageWhen investors buy bullion from Merit, the firm insures each shipment and transaction, so that customers are completely protected. Shipments are carried out within fourteen days of the purchase date. The firm offers investors a range of options for off site storage, although there are some risks associated with this.

One risk that investors take is that Merit has the right to amend the gold storage contracts and arrangements as it sees fit. Thus, the firm is free to alter charges for storage, possibly to the disadvantage of investors. If an investor refuses to pay the amended off site storage charges, the firm is within its rights to liquidate the investor’s assets to cover any outstanding amounts. Nonetheless, many investors will be prepared to accept the risks, because secure, off site storage is very convenient for them. Most people prefer to have their gold stored under guard, rather than storing it in a bank box or on their property.

Legal Restrictions

As well as the standard, government imposed legal restrictions, Merit forces customers to comply with a range of corporate practices. The firm requires all customers to buy bullion using either a credit card or certified check. Neither direct cash payments or money orders are accepted.

Merit permits first time customers to void their purchases, for any reason, for up to one week after the transaction date. However, other customers are not permitted to void their transactions, once order confirmations have been tape recorded, even if they subsequently regret their investment decisions. Additionally, when it comes to purchasing gold backed IRAs and other bullion, the firm provides no support or assistance on tax matters.

Final Thoughts

Merit is a firm worth considering for anyone looking to purchase gold and silver. By and large, the prices charged by the firm are quite competitive, even though they are subject to change and affected by external market factors. If you already have a decent knowledge of gold backed IRA investing, then the services offered by this firm could be a good fit for your needs. However, less experienced investors might be best advised to look elsewhere. Although the account managers at Merit can offer general guidance, some online reviews say that they do not have the expertise to help novice investors develop diverse portfolios, which deliver a high ROI.

What the Others Say about Merit Gold…

TrustLink News for Merit Gold & Silver
Don W. posted a review

I've been trading (buying and selling) with Merit Gold and Steve Young since 2008. In a world where professional service and integrity are becoming more rare, Merit Gold and Steve Young have both in spades! Most recently, I had a change of heart on a verbal agreement/trade I made with Steve Young (completely my fault). They together, Merit Gold and Steve Young modified my purchase to my complete satisfaction. I got exactly what I wanted despite the modification resulting in them making cons... Read More ». . . read more Thu, 31 Jul 2014 00:00:00 GMT

Leland C. C. posted a review

I have been in sales for almost all of six decades. Starting with mowing lawns at the age of 8 with my brother. I have been to numerous sales clinics and seminars through the years and have even done some teaching of rookie sales people. Every now and then a sales seminar is all emotional hype and sometimes we need that in our struggles. However all the excitement alone does not in and of itself produce results. Remember that nothing happens until someone sells something. Being a senior loo... Read More ». . . read more Mon, 21 Jul 2014 00:00:00 GMT

David J. posted a review

I have worked with Richard over the past week taking my first step to invest in precious metals. Richard was treasure trove of knowledge. He took the time to explain to me the ins and outs of investing in precious metals and did this in such a way that enabled me to make an important investment decision. Richard is a valuable asset and I feel key to the success of Merit Goal & Silver. Richard, I truly appreciate all you've done in making this such a pleasant and rewarding experience! Read More ». . . read more Thu, 17 Jul 2014 00:00:00 GMT

Winefred M. posted a review

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 Read More ». . . read more Fri, 11 Jul 2014 00:00:00 GMT

Butch T. posted a review

I have been working with Daniel for about 5 months, and have placed 7 separate orders with him. I couldn't be more pleased. He is very knowledgeable about the industry, and helpful in placing my orders. He will make suggestion about products that he thinks, might be a good fit for me, but ultimately lets me make my own decisions on what to buy, without hassle or arm twisting, unlike some other companies I have dealt with in the past. All my orders have shipped in a timely manner, and have a... Read More ». . . read more Thu, 12 Jun 2014 00:00:00 GMT

marion w. posted a review

Trust and confidence are two factors that have to be present for dealing with my hard earned dollars. I seem to have found these in dealing with Joe Grossman. This gentleman has fulfilled every obligation, to my satisfaction. It has been a pleasure dealing with Joe. Read More ». . . read more Thu, 05 Jun 2014 00:00:00 GMT

G W B. posted a review

I am extremely happy and satisfied with all phases of the transaction with Merit Gold. Your acct. executive James Assalley made it real easy for me. I felt very comfortable investing with him. We had several telephone and e-mails to get it completed but it worked out real smoothly. Hoping to do more business with you in the future. I thank you James for all the help and work you did. Sincerely G w Bulman Read More ». . . read more Fri, 23 May 2014 00:00:00 GMT

Doug E. posted a review

It was a pleasure doing business with Sanford Mann of Merit Gold and Silver. He can be reached at 800-564-8189 X380. I recommend using this individual as your point of contact when dealing in the precious metals trading forum. He was professional and provided all information requested in a timely manner. /Doug Read More ». . . read more Fri, 23 May 2014 00:00:00 GMT

Rick B. posted a review

Being a new customer, working with Jack Hanney was educational and very informative. Jack answered my questions to my understanding. Everything went as planned. 5 Stars for Jack Hanney Read More ». . . read more Thu, 22 May 2014 00:00:00 GMT

Richard M. posted a review

Just started investing in precious metals this year. Did lots of research, hoping to find someone who would answer lots of novice questions. Dan was just who I was looking for. Extremely knowledgeable, well informed on market conditions and trends. I know I can count on Dan to be a sounding board for all my concerns. Thoroughly pleased with Merit and Dan. I have recommended him to friends who were considering buying gold. What more can I say. Read More ». . . read more Wed, 14 May 2014 00:00:00 GMT

Ronald C. posted a review

Jim's knowledge of this industry is superb and my purchases were based upon his outlook of the market, both good and bad. At times, I made no purchases, other times, my purchases increased based upon his commentary. Have not made a bad decision, either way. Even when purchases were made at near bottom, Jim always advised that prices could still go down, even though it was at a very good price point. I'm happy to say that with the last purchase, he was wrong about the prices going down, at l... Read More ». . . read more Wed, 14 May 2014 00:00:00 GMT

kat m. posted a review

Steve Young, Ext. 208 (800-555-2631 or 800-564-8189) was such a pleasure to work with! Steve took the time to walk me through various purchasing options and provided accurate and knowledable information for me. Steve was up to date on all the markets and their current prices as well as how the markets have done in the past. As a woman doing business in an industry dominated by men, it can often be very challenging. Salesmen either treat me like an idiot or falsely assume that I only have a... Read More ». . . read more Tue, 13 May 2014 00:00:00 GMT

RAY M. posted a review

Hi the name here is Ray M. I live in Buellton California I just wanted to let you know how happy my son Chris and I are with Ron Smith. We like his honesty his presentations and his attitude. Put all of what I just said together and what do you have, thats right a Ron Smith ext 215. We will continue dealing with him as long as possible and thought you should known about him. Thank you Ray M. Read More ». . . read more Thu, 08 May 2014 00:00:00 GMT

Duane P. posted a review

Novice really could describe how much I know about investing however after many hours of research I started exploring avenues to purchase precious metals. Merit wasn't my first stop; it was my last stop. I was very fortunate to be connected with an Account Executive named Frank Allen (800-555-2631 ex 329). Frank is not only very knowledgeable about his trade, he is very patient explaining the pros and cons to different strategy's of investing. I made one buy with Franks guidance. Within a m... Read More ». . . read more Tue, 06 May 2014 00:00:00 GMT

Chuck K. posted a review

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 definently recommend him as a knowledgeable and helpful Executive. After twice going through Merit and being very... Read More ». . . read more Fri, 02 May 2014 00:00:00 GMT

Raymond Y. posted a review

I called Merit to discuss purchasing gold and silver coins. I reached Ron Smith, and he was very helpful and especially patient with a first time client. He explained my options and made excellent recommendations. I look forward to dealing with him in the future. Ray Y Palm Coast, FL Read More ». . . read more Tue, 29 Apr 2014 00:00:00 GMT

charles g. posted a review

My son had made a very small purchase of silver from Charlie and he recommended I give him a call. I was skeptical because I always consider these people to be in this business for themselves. My son Matt, said he felt Charlie was a strait shooter. I found him to be just that. He asked a lot of questions and explained Merit Financial and how they do business. He then introduced me to several options to purchase gold and silver and also told me what he thought were the advantages of each to... Read More ». . . read more Thu, 10 Apr 2014 00:00:00 GMT

Orvis T. posted a review

I had a great experience working with Jack Hanney, 800-564-8189 ext 265. He is on top of his game . He has help me make the right decision at the right time for my purchases. I've got more for my money following his lead , he knows his stuff. Delivery might be a little longer then most like. But the end result is worth the wait. More bang for my dollar and that's what works for me. Read More ». . . read more Wed, 09 Apr 2014 00:00:00 GMT

Shane C. posted a review

Thanks Paul Fishman it was a pleasure and your advise was sound. In today's market and politics it is good to see American Citizens still have someone who will look after there interests. With markets being over inflated and falsified Merit I will tell my friends Buy while you can even if it is only a little bit at a time. You rock Merit! Read More ». . . read more Tue, 18 Mar 2014 00:00:00 GMT

Bryan M. posted a review

Was helped by Paul Fishman, very knowledgable and helped me with my purchases. 100% satisfied and could be happier Bryan M. Read More ». . . read more Thu, 13 Mar 2014 00:00:00 GMT

Robert D. posted a review

It was nice to work with Jack Hanney (800)564-8189 X265 He was Professional and knowledgeable. He advised me well. Thanks Read More ». . . read more Wed, 12 Mar 2014 00:00:00 GMT

Charles M. posted a review

My experience with Sr. Account Representative Gil Goren has been entirely satisfactory, and I recommend him highly. As have others, I find the shipping process badly needs someone with actual shipping experience to review it. The process is very slow, and while this might be expected with collectible coins, I do not think it should be this long for current date US mint coins. Read More ». . . read more Mon, 10 Mar 2014 00:00:00 GMT

Michael M. posted a review

Merit told me a shipment would be made in 18 business days. I told them thanks but others shipped in much fewer days. I was called back a few minutes later by Rayshun Sturgis and she told me that, if I placed the order, shipping would be in 7 business days at the latest. I gave Merit the order based on 7 business days shipping. I called after 7 business days and was told that the shipment would be made in 48 hours. I called again after 48 hours. It has now been another week and the shipment... Read More ». . . read more Mon, 10 Mar 2014 00:00:00 GMT

Nelson S. posted a review

After contacting Merit, Tim Talley was very helpful in explaining the different option about products, I have worked with high pressure salesman in the past and this experience has brought me back to Merit and will bring me back for future purchases. Read More ». . . read more Thu, 06 Mar 2014 00:00:00 GMT

Matthew S. posted a review

I called Merit Financial and was immediately helped by Ron Smith. The ordering process was easy, payment was fairly easy (wish you guys would do check by phone) and their service following through on my order was out standing. My only gripe is the shipping time. From the time they received my order (same day money wire from my bank) to the time I had the metal was just shy of three weeks. That's my only gripe, but for the price they gave me I'll suffer through that. Read More ». . . read more Tue, 04 Mar 2014 00:00:00 GMT

Brian C. posted a review

Great price, slow delivery... a good balance. I've bought silver bullion for many years; investing for the long term. This was my first time with these guys -- I went with Merit because their price over spot was low, they'd been in business for 20+ years, and my local broker wasn't selling at reasonable prices. It took almost 30 days from my first call to when I received the bars... but who cares?? It's not like we're day trading in precious metals. They locked in the price when they re... Read More ». . . read more Fri, 24 Jan 2014 00:00:00 GMT

bob g. posted a review

All items were received in the condition described. Worked with Bryan Ison and he was very responsive to every email I sent. Despite the delivery taking longer than expected (maybe because it was over the holiday season) Bryan kept me informed of the order status every step of the way. Read More ». . . read more Fri, 17 Jan 2014 00:00:00 GMT

Danise E. posted a review

even though we expected our package sooner than it came, the entire order was there and the merchandise is more than we expected. Our representative was most helpful and even though we had problems with tracking through the post office, he was prompt to respond to our concerns. Our representative is Michael Goldstein. If you want good service his # is 800-564-8189 x.303. Read More ». . . read more Tue, 14 Jan 2014 00:00:00 GMT

Robert K. posted a review

My senior Account Representative was Phillip Koonce Phone: (800) 564-8189 Ext. 379 and his service and explanation of procedure was superb. This was my first time ordering from Merit G&S. I ordered a 100 troy ounce silver bar. I paid by personal check and the check cleared my bank on 12/18/2013. It arrived exactly as stated on their website (12 business days excluding weekends and holidays) and USPS Registered Mail and double boxed with great cushioning. The Johnson Matthey 100 troy oun... Read More ». . . read more Thu, 09 Jan 2014 00:00:00 GMT

Naresh b. posted a review

I worked with paul fishman and he is best. He totally understood my requirement and did my purchase smooth and painless. I got my package today as you promised. Thanks a ton Paul. Initally I was scared to buy precious metals online but You provided great assurance to me and I am now confident on how stuff works and its great. See you soon again. 🙂 Thank you merit finanacial. Read More ». . . read more Mon, 06 Jan 2014 00:00:00 GMT

Fred E. posted a review

It was our first order to Merit and things could not have gone better. Michael Goldstein 800-564-8189 Ext. 303 walked us through the wire transfer and purchase. Merit delivered within the time quoted. Product and price better than other competitors. Read More ». . . read more Fri, 03 Jan 2014 00:00:00 GMT

GREG D. posted a review

Great prompt service and prices from Merit, Michael Goldstein 800 564-8189 ext 303 Always good to work with Greg D. Read More ». . . read more Fri, 03 Jan 2014 00:00:00 GMT

Ronald M. posted a review

I had never bought investment precious metals over the internet and was somewhat nervous about doing this.After much research I settled on Merit Gold and Silver. I was purchasing silver american eagles and my local coin dealer wanted $2.85/coin more than Merit did. They have been in business about 28 years and they are in the same state as I am and had the best price I could find on the internet. Charley Chartoff,Senior Account Executive 800.564.8189 ext #452 was the person I did the transa... Read More ». . . read more Thu, 02 Jan 2014 00:00:00 GMT

Reginald H. posted a review

Michael Goldstein ,1-800-564-8189 Ext 303 was very well versed in the silver market. I wanted bullion and after talking to me for a short time he suggested to me to also invest in some 90 % Silver Kennedy half dollars, seeing that 50 years had slipped by and I agreed and bought a bunch along with the 10 oz. Silver bullion bars . Michael was always there and keep me well informed on what was going on.He seems to have your best interest at heart. Would recommend to any one to have Michael do... Read More ». . . read more Fri, 27 Dec 2013 00:00:00 GMT

victor p. posted a review

I was interested in purchasing specific gold and silver coins. Michael Goldstein was extremely kind in helping me try Merit Gold and Silver for the first time. Michael Goldstein called me about the shipment being sent so I was well aware the arrival. I received the coins in the expected time and was pleased with the packaging, shipping, and quality of the coins. I was pleased with this transaction and will definitely do business in the near future with Michael Goldstein and Merit Gold and S... Read More ». . . read more Fri, 20 Dec 2013 00:00:00 GMT

Nikki J W. posted a review

Very pleased with the services of Merit Gold & Silver. Researched several companies and chose Merit. Our representative Michael Goldstein was extremely helpful and informative. We will do business with this company again. Read More ». . . read more Thu, 19 Dec 2013 00:00:00 GMT

May W. posted a review

Being more than a little nervous about being a first-time buyer of precious metals, it was comforting to have Paul Fishman guide me through the process. He is certainly knowledgeable about the products that Merit offers and after getting some information from me regarding why we were investing at this time, he was able to steer me to products that were a better choice than what I had first thought when I called. Paul helped me understand the ups and downs of what this investment would do fo... Read More ». . . read more Wed, 18 Dec 2013 00:00:00 GMT

David T. posted a review

As a small time investor I was nervous the first time I bought from Merit, but they delivered exactly what they promised. I am now a repeat customer and have worked with Michael Goldstein @ 800-564-8189 Ext. 303 on multiple occasions. He is easy to work with and very professional. I would recommend him and Merit to anyone looking to purchase metals. Read More ». . . read more Wed, 18 Dec 2013 00:00:00 GMT

Patrick T. posted a review

I'm not a huge investor by any means but I decided to buy a small amount of gold. I kept watching the ads on tv and finally started doing some calling to make some inquiries. Several places I called left a very bad impression. When I reached Michael Goldstein at Merit gold he was very courteous and professional. He made the process clear. In talking to other members at Merit the response was the same. Very professional and courteous. Every step went well and my gold arrived as explained. I... Read More ». . . read more Wed, 18 Dec 2013 00:00:00 GMT

Michael H. posted a review

I placed my first purchase for silver and gold through Merit this month. I had an excellent experience with Michael Goldstein of Merit Gold & Silver. The process was explained thoroughly and everything went as expected--very smoothly. Mr. Goldstein kept me informed of my order status and expected delivery as he promised. I plan on continuing to use Merit for future purchases. Read More ». . . read more Thu, 12 Dec 2013 00:00:00 GMT

WILLIAM M. posted a review

Dealing with Michael Goldstein of Merit Gold & Silver was an absolute delight. His knowledge , ability to explain and articulate are amazing. Answers or returns calls promptly is in itself a rare commodity. I would highly refer anyone to him. He kept me informed each step during our transaction. Look forward to doing business with Mr Goldstein again. Would not think of using another person for these transactions. Don't hesitate to give Mike a call for any reason. 800 564 8189 ext 303 Th... Read More ». . . read more Fri, 06 Dec 2013 00:00:00 GMT

mike l. posted a review

I have been buying gold and silver for the past few years from other gold and silver companies on the web. About two months ago I signed on to Merits web site to price out their products, when it promoted me with a form to enter my info. The very next day I received a call from Paul Fishman at extension 454 introducing himself as a financial adviser at Merit. First thing that came to mind was, Oh no another sales pitch and didn't want to hear it. Luckily somehow Paul let me talk and he list... Read More ». . . read more Tue, 03 Dec 2013 00:00:00 GMT

Warren B. posted a review

I had never bought any type of rare metal before and, after searching around, found Merit. What drew me was the internet site! As a young investor, I prize this greatly. After I decided what I wanted, I called and placed my order. Charley Chartoff @ 800.564.8189 Ext. 452. was amazing! He helped me know exactly what I wanted and directed me with his helpful suggestions and wisdom. I will definitely be using Merit's services again! Read More ». . . read more Wed, 27 Nov 2013 00:00:00 GMT

Mark G. posted a review

Michael Goldstein @ 800-564-8189 Ext. 303 handled my transaction efficiently and without a hitch. He was amiable and easy to work with. I highly recommend you contact him when you transact with Merit Financial. Comparing prices, Merit was the least expensive of the six major companies I was in touch with. Mark G, OH Read More ». . . read more Tue, 19 Nov 2013 00:00:00 GMT

Hugh B. posted a review

This was my first experience in the purchase of Silver from a company that deals exclusively in Gold and Silver. My contact Michael Goldstein @ 800-564-8189 Ext. 303 was a fount of information. He was knew the answers to the questions I asked and gave me answers to questions that I would have asked if I had known more about what I was trying to do. Excellent service. Read More ». . . read more Mon, 18 Nov 2013 00:00:00 GMT

T H. posted a review

Bryan Ison did a great job taking me through the process and explaining some of the history behind the items I purchased. Read More ». . . read more Thu, 14 Nov 2013 00:00:00 GMT

Jorge C. posted a review

I am a first time buyer of metals and the service provided by the representative Michael Goldstein @ 800-564-8189 Ext. 303 was excellent. He was very patient, polite and full of information. If I decide to buy metals again, for sure I'll contact Michael again. Read More ». . . read more Sat, 26 Oct 2013 00:00:00 GMT

Gaurav P. posted a review

I would like to say my Rep Michael Goldstein was very helpful.With his detailed explanation of each step, the whole process of buying gold went off very smoothly. I believe he is a very positive asset to the Company and I would definitely do business with him again. Thanks Michael for all your help and making this purchase a wonderful experience. Gaurav Parikh Michael's # 800-564-8189 Ext 303 Read More ». . . read more Wed, 23 Oct 2013 00:00:00 GMT

clay D. posted a review

I have done a handful of transactions with Merit Financial in the last couple months, and I must say I really couldn't have felt more comfortable.They did what they said they would,and did it very very well,thanks.Clay Read More ». . . read more Wed, 16 Oct 2013 00:00:00 GMT

Michael S. posted a review

Had the pleasure of working with Sean Johnson. I don't have alot of experience in precious metals, but advice from my accountant made me check out the market. I talked to Sean Johnson, and he was extremely helpful. Sean explained the basics of buying and selling gold in simple terms! I would recommend Sean to anyone, very knowledgable,easy to work with.Something very unique about working with merit gold & silver was the 7 day guarantee. The price took a pretty good drop 2 days after my... Read More ». . . read more Thu, 10 Oct 2013 00:00:00 GMT

Francis R. posted a question

I thought a lot of reviews on Merit Gold a fake and submitted by the persons being reviewed. Looking at reviews on this guy, Mechael Gordon for example....he receives 1 new review a day submitted by someone I believe to be fake trustlink's user. Any opinion about this? Read More ». . . read more Thu, 25 Apr 2013 00:00:00 GMT

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Phone Support: 800-515-5019
Address: 2001 Wilshire Blvd, Ste. 320 Santa Monica, CA 90403

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