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.