Merit Gold & Silver Closes its Doors

American Gold Eagle Coin

American Gold Eagle

Coin Week recently reported that Merit Gold & Silver, one of the nation’s largest online coin dealers, has closed its doors.  This is the second national online coin dealer to shut down operations in a matter of months.  Fortunately, thus far, there have been no reports of consumers being defrauded, as was the case with Tulving, but it’s still concerning that a company that has been in business for 28 years has decided to cease operations without any advance notice.

This is one reason why we advocate the importance of establishing a relationship with a local coin dealer.  Few, if any local coin dealers shut down operations without some type of notification.  Additionally, doing business with a local coin dealer allows you to take possession of your coins at the time of the transaction or receive immediate payment for any coins that you may be selling.  In other words, your risk is greatly reduced by conducting business in person.

We’ll continue to keep our readers posting of any major changes in the coin industry, and as always, welcome you to contact us if we can be of any assistance.

 

 

Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes. Tony frequently writes on various economic and numismatic related topics affecting the coin and bullion markets and has been published on some of the industry’s leading websites, including Coin Week, the American Numismatic Association, Coin Collector, Coinflation and Coin Auctions Help, just to name a few. Visit Atlanta Gold & Coin’s website at http://atlantagoldandcoin.com to obtain additional information on the products, services and educational resources offered by his company. Tony can be reached at sales@atlantagoldandcoin.com or at 404-236-9744. Be sure to "like" Atlanta Gold & Coin Buyers on Facebook , follow them on Twitter, or subscribe to their RSS feed to receive the latest news, tips and expert advice on old, rare, collectible and bullion coins.