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Old 08-15-2012, 08:59 PM   #1
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Merit Financial?

Anyone have experience with Merit Financial?

I see their banner ads, and premiums look attractive ($2.49 over spot for ASEs). Don't like how secretive they are about pricing though.

Now that Goldmart is charging shipping for orders < $7,500 instead of $5,000, may need to look for other retailers.
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Old 03-23-2013, 04:43 PM   #2
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Merit Financial

Hi everyone,
I'm a newbie, both here on this forum & with PM. I've been on the Internet for many hours trying to educate myself on buying silver coins.
I've decided to buy some Silver Eagles.
It seems like Merit Financial has some great prices & free shipping on 1st order over $1500.
I have read about a few bad things, like no on-line ordering. Also, they try to sell you other things-bait & switch. Their website looks nice, but I don't see their physical address listed anywhere.
I have read that they advertise heavily, so how can they afford to sell cheaply, supposedly 1% over cost?
Am I Ok to go with them?

Last edited by silver stacker; 03-23-2013 at 05:11 PM.
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Old 03-24-2013, 01:00 PM   #3
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Merit feedback

As a new Merit customer, there were a few things I liked a few things I didn't:

The Bad:
1) Their website, while pretty and informative (with respects to sales price, what they have, etc.) sucks in terms of back end tech such as being able to sign up, build a cart, and order. You can't do it. When I went to place my first order, their site was down in terms of being able to even create an account (not that making an account allows you to do anything anyway) JM Bullion on the other hand, you can actually place an order (a CC "holds" the order till you can confirm wire info). Though on my first order it didn't take my card for some reason. Didn't tell me why. Just told me to call. It was after hours so I couldn't. They lost out on my large order because of that.

2) You HAVE to order via calling your rep, then sending in a wire to fund your account, then call to confirm. It's a dumb process. Meaning you can't place an order, have them tell you a price, and send a wire for that (or send a wire via info online). For me (and people like me) that's a big turn off. Just let go online, build a cart, hit "order", supply my info, and be done already. Geeze.

3) You can't log in and see info such as what you ordered, when, at what price, where it is in the shipping process, etc. I really hate that.

4) The shipping time is way too long. My first order took just over two weeks to ship. And after ordered I got no confirmation, no updates, etc. I guess the time value of tehir holding money for the weeks it takes to ship adds to their ability to charge little

5) They do try to bait and switch a bit. Though I don't blame them as this is likley how they are lower on the 'commidity' PMs. When I placed my gold order, they REALLY tried to talk me into upgrading to more costly 'rated' (?) gold. I passed. But that's my guess as to why they can charge so little: They make $ when you have to call as they likely upgrade several customers to higher margin items


1) They have good prices. You said they are secret but everything is there. The exception is junk silver which they don't show the price of. But at least they have it. It is out of stock at a lot of places and the premimum is going up over spot all over the place (side note: Buy as much now while you can -- IMO)

2) You get your own rep who, when I've called, knows who I am and is very helpful.


So would I order again? Sure. If you're going to buy a LOT of silver/gold, then I'm fine to put up with their "old skool" way of doing things as it means I'm going to save $$$. I like the way JM Bullion does business more wrt their site and ordering, but they're a bit more. If I were just going to buy a small handful of coins, I'd use JM. If you're buying a LOT, use Merit.
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Old 03-25-2013, 02:11 PM   #4
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Cody, Thanks very much for the feedback. I researched JM Bullion & they also seem to have great prices. As you say, they do indeed have a more user friendly web site, where you can simply help yourself & get the complete job done. I like that! I'm going with them on my 1st order.

Do you want me to use your coupon code, to give you credit?
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Last edited by silver stacker; 03-25-2013 at 02:17 PM.
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Old 04-23-2013, 09:00 AM   #5
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I wanted to follow up on my experience. Unfortunately, I could not deal with the ordering process of Merit Financial. It was just too complicated.
I ended up placing an order with JM Bullion. I spoke to a rep on the phone first, to confirm a few things. Then I ordered online & then wired the $. Being a first time PM buyer, I was a little nervous dealing with a stranger. Overall, things went very smooth. I spoke to a rep periodically for updates & he was very reassuring. My only beef is that it took 3 weeks to get the product, even though he said it was in stock before I ordered. But from reading other posts of other dealers, I should be happy.
My guess is that these dealers make a sale whenever they can & then watch the market & buy the product at the best possible price, so they can maximize their profits.
All said, I would order from them again.
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Old 02-24-2014, 09:18 PM   #6
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Merit Financial - a C Rating overall

I have not ordered from Merit, but have been comparing companies online and looking at their Better Business Bureau, Business Consumer Alliance, TrustLink, RipoffReport reviews, etc... - gave Merit a C rating. So I don't think they're a BAD company, but maybe with a little research, you can find another with a better reputation?
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