NOTE: For a quick overview of all the precious metals companies we have researched and reviewed, please see our comparison table. If you are unfamiliar with investing in precious metals and why, please start here. We recommend you contact each company on your own and investigate thoroughly before making a commitment.
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Another well-known precious metals company, Merit Gold & Silver ranks towards the bottom of our list because Santa Monica City filed charges of fraud against the company. Numerous complaints claim that Merit Gold & Silver has allegedly scammed consumers out of tens of millions of dollars. Sales representatives from this company made false claims about collectible coins to uneducated clients of things such as numismatic coins offering better ROI and privacy than bullion and that numismatic coins could not be confiscated by the government and that bullion could. They even claimed that the purchase of numismatic coins did not have to be reported on taxes.
Merit Gold & Silver Reputation
- Currently not accredited (N/A) with the BBB (update from the BBB reported to come soon post May 25, 2014)
- 5-star TrustLink rating with 686 customer endorsements
- AA rating with the BCA (54 complaints closed circa May 25, 2014)
- In good standing with TrustLink
- Sales representatives and initial customer service reported to be friendly and helpful
- Charged with $10 million in precious metals fraud regarding the promotion of numismatics vs. bullion
- Not BBB accredited
- Official records show numerous consumer complaints closed
- Advocate of numismatic coins (understand the risks for an IRA!)
Phone #: 1-800-585-1773
Address:1300 4th St Ste 303 Santa Monica, CA 90401
Overall Company Rating: