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I saw an add on the internet for a company called Merit Financial in Santa Monica, Ca. They are in the business od selling. On their webpage they had a number of 1 0z gold pieces at good prices. I decided to buy 4 coins so I sent them $7500 on or about September 10, 2012. I called the next day to order my coins. The salesman tried to talk me out of the 1oz gold coins. He recommended that I buy $10 pre-1933 gold coins and Kennedy half dollars.
I told him I would think about it. I called CMI, another coin dealer that specializes in selling Bullion but also sells some other. coins. He said he could sell me the same $10.00 gold coins for about half what Merit Financial wanted for them. This call occurred on September 11th.
I called again on September on September 13th to try again to order my 4 bullion coins. I was told that the salesman assigned to me was Curt Morell but that he was busy so I was transferred to Dave Martell. He talked me into buying 13 $5.00 commemorative gold pieces which he said normally sold for $700-800 a piece. I finally gave in and ordered them as he assured me there was a seven day money back guarantee.
When I got the coins two weeks later, I took them to a local coin shop, A&D Gold Exchange. He did an informal appraisal of the coins as being worth $4125. He said they had no numismatic value so were worth the value of the gold in them and no more.
The next, day, September 28, I called Curt Morell at Merit to request a refund. He said he would have to check with his manager, Mike Salano. When I spoke to Mr. Salano, he said I could not send the coins back because the seven was up. I told him that was ridiculous as I has no time to examine the coins before the seven days ran out.
What part of 7 days didn't you understand you whiney little bytch? He kept his agreement and you broke yours, to bad sucka!
Seven days has to start at the time product get delivered. According to the comment it happen on September 27. Customer acted within a day. The story of this client is very similar to what I have experienced and many other comments on the web about Merit predatory and dishonest practices. David Martell mentioned in the comment is especially famous for this kind of bate and switch tricks.
I am in process of filing complain with the Department of Consumer Affairs and BBB.
I bought silver coins from Merit Gold and my sales person was Isaac Nuriani. He’s now gone. Fired, I presume because he just vanished. I have to say that I truly hate this company. They prey on unsuspecting customers. They lie and it’s extremely hard to talk to anyone. You are interrogated when you call and they treat you like you are a piece of dirt. I’ve now been switched to Gil Goren. I’ve resorted to sending emails to reach him because phone calls are not returned.
My IRA is held by a custodial company. What they don’t tell you is the custodian values your silver at melt prices, not the value of the coins. When you get a statement from the custodian, you will be in for a SHOCK. According to my statement, my account was worth LESS THAN HALF of my investment almost immediately. What a price yo pay to work with this shady and dishonest company. I wished I had cashed out my IRA and paid the penalty rather than work with this group of criminals. STAY AWAY FROM MERIT GOLD AT ALL COSTS.
By the way, you can register your “account” on their website, but you get absolutely NO INFORMATION. if you need any information, you must call. If you call, you are subject to rude employees who interrogate you. Phone messages go unanswered and often emails are also not answered either. I’m writing this review after sending my second request for information on my account in a week (with no answer). I’m sick and tired of dealing with this dishonest company.
I just finished my research, and found multiple complaints among numerous websites (Mr. Morrell seems to be repeat protagonist), I guess I will shop for my gold elsewhere. Sorry that you folks had to suffer, but thank you for taking the time to share your stories and help protect the pocket books of others. Best of Luck.
i bought 20 $10 coins from Merit financial for the price of $1295, 00 a piece, , , a total of $25, 900.00 dollars, , , I wanted bullion, but they highly suggested the coins, , , saying they were worth much more than bullion, , , , I am just sick over this as this was our savings for the future...Marsha Lombard
I called in to buy some gold bullion they talked me into buying these coins instead which they claimed had a long history of out performing bullion which is not true these coins are worth less than 50% of what bullion costs
"Do not get heated up over evildoers. Like green grass they will wither"..."Just a little while longer and the wicked one will be no more" Psalms 37:1, 10. Yes I learned the hard way too. At least you have something with value. I received coins at $37.oo apiece worth $8-$10 today. Well, its only money right? Only I really needed it to make my house payment this month. Best wishes to all of you.