Most investors wonder what they should invest in. Though they may choose stocks and other things, right now is the best time in history to buy gold. In fact, central banks are currently printing trillions of dollars because the economy isn’t that great. Overall, things don’t appear to be getting better.
Inflation is through the roof right now, and there’s no end in sight. Because the gold market has always been a historical hedge on inflation, some investors want to protect their savings with a shiny precious metal.
People are interested in finding appropriate gold companies to use, and they wonder, “Is Acre Gold legit?” This Acre Gold review explains everything thoroughly so that potential investors have the information they need before buying from Acre Gold. Here is what everyone needs to know:
What Is Acre Gold?
Is Acre Gold legit? To answer that question, people need to know who founded it. Overall, a small team of fintech veterans established the company. It was created to change how people purchase gold. In the past, people only had auction sites like eBay or pawnshops, both of which have questionable seller reputations.
Acre Gold works in two locations: Santa Monica, CA, and Boise, ID. With that, it’s still a new player within the gold investment industry.
The company’s idea is to offer consumers the help they require to have a straightforward and more engaging experience. With that, it ensures that the investment is safe. This company actually introduced a unique gold subscription strategy where clients can now buy a gold bar for affordable fees each month.
When the individual balance of the client reaches the price (stated by the company) for 2.5 grams of gold bullion, the company delivers the finest-quality bar discretely and right to the person’s doorstep.
Buying gold has never been easier!
Contact Information for Acre Gold
Customers can reach the company through various social media platforms, including Instagram and Facebook. They may also email firstname.lastname@example.org directly. There’s also an online form on the Acre Gold website. Still, the fact that there’s no phone number is a red flag that people might want to consider.
Overall, the Better Business Bureau has issued a warning that Acre Gold is not accredited. With that, the agency added that this is a subscription-based company. In a sense, clients have to use layaway practices to hold their 2.5-gram bar until the company’s monthly subscription cost meets that seller’s value.
Understanding the Spot Price from Acre Gold
There’s only one way of purchasing gold from this company, and this Acre Gold review has uncovered that feature. Investors have so many other methods of buying this precious metal. Before a person buys a gold bar, they need to understand the spot price.
Physical gold is often seen as investment insurance. Overall, the idea is to buy the material instead of having the craftsmanship level found in gold bars. When a person decides to purchase gold, it must be at the retail price that’s closest to current market prices for precious metals.
What Is a Troy Ounce?
Troy ounces are often used to show the current price of gold. In a sense, one troy ounce equals 31.103 grams. Therefore, if the markings on the precious metals are 10K, 18K, 14K, or 24K, that shows how much gold is in them. It’s impossible to work with pure gold because it is a soft metal. For that reason, gold must be mixed with other metals, and reputable goldsmiths should do this.
Here are the amounts of gold based on the markings:
- 10K – 41.6 percent gold
- 18K – 75 percent gold
- 14K – 58.3 percent gold
- 24K – 99.9 percent gold
How To Realize a Rip Off
In general, purchasing gold at its retail price is almost impossible because the customer buys through an intermediary who wants to make a profit.
Is Acre Gold legit? To know that for sure, it’s best to understand how other reputable gold retailers work. They place a premium of five percent on the spot value of physical gold, and there are usually no shipping and fulfillment fees (meaning they offer free shipping). Market prices are shown in real-time by various websites, and it’s crucial to use them before buying gold.
Acre Gold Subscription Pricing
Is Acre Gold legit? Well, it stockpiles gold and other precious metals regularly. During the last year, gold was in high demand, so the company had problems and could not acquire gold, running out of stock.
A specific price tag is put on each 2.5-gram bar of gold. If retail prices increase, the client gets a better cost. However, if prices go down, it takes longer to get the one gold bar because another payment must be made to Acre Gold.
This subscription model isn’t great, but there are the options:
$30 to $50 Monthly Packages
For people who are bargain hunters or buying gold for the first time, Acre Gold offers something decent. It has established a layaway-style program that lets customers make monthly payments of either $50 or $30. Once the account balance reaches the set cost threshold, the person receives a 2.5-gram bar delivered to their door.
$100 per Month Package
Wealthier customers can also benefit from Acre Gold’s system. They get the most recent value, which is a 5-gram or 0.1607-ounce bar manufactured using .999 fine gold. The bar promises to retain its market value forever.
The person pays the company $100 each month, which continues accumulating in the account until the balance is equal to that cost of the 5-gram bar. After this, Acre Gold ships the 5-gram gold bullion whenever the account reaches the appropriate price threshold. Any remaining amount is credited to the next 5-gram gold bullion purchase.
Charges and Fees
There is a downside here. The customer is required to cover the shipping and fulfillment fees. In addition to that, there is a one-time membership fee ($12) for each bullion and a processing fee of $3.35. If the investor chooses to close their Acre Gold account, they are charged $20 as a cancellation fee.
Special Features for Precious Metals
Each gold bullion gets packaged in a premium, soft-touch box that includes an assay card and display drawer. The person is guaranteed authenticity from Acre Gold. With that, the packaging is quite elaborate to protect the gold and certify its origin.
Every bullion features 5 grams of .9999 fine gold (2.5 grams or 0.1607 ounces). It’s delivered in a sealed and protective package, which clearly indicates its authenticity and weight with an assayer’s stamp.
Plus, the precious metals get a stamp with the Acre Gold logo, which also contains the weight and purity level. On the reverse side, the person sees the logo, as well.
When Does the Person Receive Their Physical Gold Bar?
Acre Gold delivers a 2.5-gram bullion once the person makes five payments, $50 each. However, this is subject to change if there’s a worldwide shortage and Acre Gold cannot acquire gold bars any longer.
The person receives the delivery right to their doorstep. Therefore, if the account gets opened in January, the investor should get their first gold shipment by May or June.
Reviews and Ratings
There have been many reviews that claim the sales policy for Acre Gold isn’t transparent.
With more negative reviews than positive ones, the BBB rating is quite low. With that, the customer support team receives many complaints, with hardly any positive reviews at all.
Since there are only a few ratings of positive reviews, Acre Gold is considered a near-scam investment scheme. One client actually went so far as to say that the process is a full-on scam. Though they paid a subscription every month, there’s no information offered by the retailer showing how much was sent or how much gold that bought.
When adding the membership fee to the mix, people end up spending much more for their gold than they need to. Overall, it’s best to do due diligence and consider this retailer at the person’s own discretion.
Potential Red Flags
Is Acre Gold legit? Here are a few red flags to note:
Hard to Close an Account with Acre Gold
On the BBB website, it shows one particularly disturbing complaint about Acre Gold. This person said that they had tried to close the account four different times because of unauthorized charges to their credit card.
The client couldn’t reach the customer support team of Acre Gold with the email address provided. This leads people to believe that it’s hard to cancel, even when the $20 fee is paid.
Clumsy Account Management at Acre Gold
On its Facebook account, Acre Gold states that customers receive regular updates about account statuses through email. Therefore, those who are thinking about investing with this company may want to reconsider.
In the receipt emails provided, Acre Gold includes a link called Manage Subscription. Customers are taken to the client portal, where they can manage their accounts and monitor transaction history. The company states that if the investor doesn’t get a progress email, it’s likely in the spam folder.
Lackluster Support Team at Acre Gold
Overall, part of the problem must be customer support for Acre Gold. These people are hard to reach. Some potential clients of Acre Gold chose to contact the company with a fake inquiry. Though they received a response, it wasn’t very detailed. The main frustration for many is that the price per bullion isn’t revealed. Also, the company claims that this is because of constant fluctuation for gold.
Is There a Referral Program for Acre Gold?
Some people also wonder if Acre Gold has a working referral program. Based on some reviews, it does provide one and offers incentives to clients when they refer new subscribers. These perks could be free silver, a lower membership fee, and many others.
However, it’s nearly impossible to cross-check that information with the official website. Acre Gold has dedicated one section to affiliates, but the details are lackluster at best. In a sense, the company is only offering encouragement for future partners to get referrals.
The company tells others to refer people to it, but there’s no explanation of the reasoning for it. Many negative reviews mentioned the confusion about the referral program.
Pros and Cons
- Seemingly simple signup process
- Few complaints about the gold’s quality
- Minting of gold bullion is done in Switzerland
- No gold IRA services available
- Can’t get a free gold IRA guide
- Confusing and controversial comments and reviews
- Not BBB-accredited
- More than 17 complaints in the last 12 months
- No phone number shown on the official website
- Controversial customer experiences
Conclusion – Should a Person Invest with Acre Gold or Consider Its Alternatives?
Because Acre Gold is a young dealer on the market, it’s considered strange that it has accumulated so many controversial and contradictory reviews and comments. When a person looks at the official website, there are positive comments, which make it appear favorable. However, when searching in forums and independent review sites (BBB and others), it’s clear that there are more negative comments.
Though some customers appear satisfied, there’s still the burning question: Is Acre Gold legit? Overall, the answer is no. There are just too many concerns about the reviews and the issue of how much a person pays for gold bars.
It’s the potential investor’s decision if they want to buy gold from this company, but the strong recommendation here is to do plenty of research before investing.
Clearly, this precious metal is still highly popular, and people want to buy it and store it in case their country’s currency falls or fails. This is understandable and admirable, but this Acre Gold review has shown that there are some red flags about the company.
With that, there are many other companies out there with few complaints and positive reviews. If the person’s goal is to invest in gold, it might be wise to go with one of them. Regardless, make sure to do plenty of research on the gold-buying companies out there before deciding which one to give money to.