Greetings! Welcome to my Acre Gold review!
Gold is a relatively rare precious metal. It has become an excellent form of investment because of its good store of value. Aside from it being a physical asset which can be held and kept, investors have loved its capabilities to be a hedge against inflation.
In today's times, there are a lot of gold and other precious metals companies that offer their products and services to potential investors. These different companies also have their own unique way of marketing.
You may have heard of a company named Acre Gold and got your attention caught with their new and innovative way of making Gold investments easier and more affordable. You may be asking yourself, Is Acre Gold legit? Or am I in danger of being scammed?
If you are interested in Acre Gold but want to know legitimacy and reliability first, then you have come to the right article, In this Acre Gold review, you will learn everything you need to know about them!
Acre Gold Review Quick Summary
Name: Acre Gold
Founders: Brendon McQueen & Jason Choi
Price: $12 one-time upfront membership fee, $250 one-time Gold IRA account opening fee
What is Acre Gold?
Acre Gold is a relatively new precious metal company that provides an opportunity for clients to acquire gold in a unique way compared to other traditional firms.
It was created by a group of fintech veterans and gold bugs, who recognize the importance and benefits of gold. They aim to make precious metals more affordable, approachable, and an engaging experience.
The company started its services in 2020 and is currently headquartered in Santa Monica, California. Though new to the industry, they are already a registered investment advisor with the Securities and Exchange Commission (SEC).
Acre Gold claims to have the company's gold being 99.9% pure and is minted in Switzerland. The company's distinctive way of gold ownership has resonated with many investors and this is a major reason for their huge success.
Acre Gold Management
Acre Gold is composed of experienced professionals with a proven track record in the financial and technology industries. The team is led by the founders Brendon McQueen and Jason Choi.
The following are the current executive team of Acre Gold:
- Brendon McQueen - CEO
- Jason Choi - CTO
- Michael Hayek - CFO
- Ricardo Castro - COO
- Diana Tran - CMO
The team has raised significant funding of over $10 million from various investors such as Science Inc and Initialized Capital. They have a vision disrupting the Gold industry and becoming the leading player in the diverse and broad precious metals market.
How Does Acre Gold Work?
Acre Gold works differently from the other precious metals firms we have reviewed, which usually helps you transfer precious metals to a new gold IRA account upon funding your account.
Acre Gold, on the other hand is more of a layaway program. Investors are able to buy gold in small amounts through a subscription-based model.
Basically, you pay a subscription fee every month. Once you have made enough payments to meet the price of the gold (minus the shipping and fulfillment fees) Acre Gold will then ship and deliver the physical gold directly to your front door!
Essentially, this means you're making your payments for your gold every month. This can go on for as long as you like, meaning you can receive additional 2.5-gram gold deliveries. If you want to stop, you can always cancel the subscription.
Is Acre Gold Legit?
As stated earlier, Acre Gold is a very young company. They have a unique lay-away program wherein through a subscription program, you are able to buy increments of gold and be able to receive it once you pay fully.
The company claims that its gold is 99.9% pure and is minted in Switzerland. A secure feature of their gold is that each comes with a certificate of authenticity and a unique serial number. This greatly helps to the legitimacy of the product.
Acre Gold did have some trouble with complaints from customers that are displeased. You will be able to read that in the following complaints section of this article.
Acre Gold Subscription Services
If you browse through Acre Gold's website, you will see that they offer 4 types of subscription/plan services, each with different amounts of gold and corresponding price. The following are:
- 1 gram per month: This plan costs $30 per month and includes 1 gram of gold.
- 2.5 grams per month: This plan costs $50 per month and includes 2.5 grams of gold.
- 5 grams per month: This plan costs $100 per month and includes 5 grams of gold.
- 10 grams per month: This plan costs $250 per month and includes 10 grams of gold.
Acre Gold Prices and Fees
To join Acre Gold, you must pay a one-time, upfront membership fee of $12. From here, you can start taking advantage of the $50 monthly subscription (there is also a $30 subscription option) for 2.5 grams of gold.
For investors that do not want to subscribe to their monthly plans, Acre Gold caters to outright purchases. The following prices are 1G for $125.89, 2.5G for $258.18, 5G for $516.36, and 10G for $1032.72
- Acre Gold charges a 1% transaction fee on all outright purchases.
- There is no storage fee.
- Shipping is free for orders over $500.
- Acre Gold offers four subscription plans, ranging from 1 gram per month for $30 to 10 grams per month for $250.
- There is no transaction fee for subscription plans.
- There is a $25 annual storage fee.
- Shipping is free for all orders.
- Acre Gold offers gold IRAs that allow you to invest in gold without having to pay capital gains taxes.
- There is a $250 account opening fee.
- There is an annual maintenance fee of $25.
- There is no transaction fee for buying or selling gold within your IRA.
This is quite different from a traditional gold IRA firm that charges no subscription or management fees and simply sells you metals before helping you set up your own gold IRA.
You do need to keep in mind of the following things though. There is a minimum order size of 1g for outright purchases. There is a minimum subscription size of 2.5g per month and a maximum subscription size of 10g per month.
Is Acre Gold Subscription Worth It?
There are actually many factors to consider but whether or not Acre Gold's monthly subscription is worth it totally depends on your personal financial and investment goals.
If you are someone who doesn't have much capital, Acre Gold's convenient and affordable upfront investment can help you enter precious metal investments and build on it to increase your assets.
However, you must really think it through because Acre Gold charges higher for its gold bars. Basically, you will be paying a higher total through the subscriptions that you would if you bought it from a physical dealer.
What is Acre Gold Premium?
Acre Gold Premium is a fee that is added to the spot price of the gold when you purchase from the company. Basically, this means that you will pay a percentage more than the current market price of gold.
Since the value of gold shifts time to time, Acre Gold's exact premium changes too. This also means that your cost of buying from them could fluctuate up and down. The premium is charged to cover the costs of storing, insuring, and shipping gold.
Can I Cancel My Acre Gold Subscription?
Yes, Acre Gold does allow customers to cancel subscription plans. They will refund you the money on any unused months of your subscription. (Take note, you will be charged with a cancellation fee)
However, Acre Gold does not offer refunds for physical products that have already been shipped or received by the customer. They also do not refund for fees like storage.
If you want to cancel your subscription, you can do so online in your personal Acre Gold account tab. It's pretty straightforward as there are instructions to guide you.
Acre Gold Affiliate Referral Program
Acre Gold also has an affiliate program powered by LeadDybo that offers compensation for those who introduce a new, subscribing client to Acre Gold (if you are into that sort of thing).
Basically, Acre Gold can partner with other websites and individuals in order to promote their products and services. In exchange for driving traffic to Acre Gold, the affiliates receive commissions on any resulting sales.
Acre Gold Customer Support and Service
Sadly, Acre Gold does not have a live chat function on its website. However, clients can address their concerns to Acre Gold via their Facebook and Instagram accounts.
They do have a "customer" portal in their website which you can access their customer support. But the problem is, you need to be logged in. As you can see below, they seem quite responsive to their clients on these social media platforms.
Acre Gold is helpful for those who would like automatic, ongoing investment in precious metals that they store themselves outside of an IRA.
However, for gold and silver investors who would like the benefits of an IRA and a closer advocate through the lifetime of their metals account, Acre Gold wouldn't be the best choice for you.
You would want a gold IRA company that stays with you for the duration of your account and acts as a direct liaison on your behalf with the custodian and storage facility required by your IRA.
Acre Gold Ratings (Updated June 2023)
Since Acre Gold is quite new to the industry, I only found a handful of reviews and ratings during my research. And to be honest, they were not that impressive.
- BBB - Accredited with A+ rating, 2.62/5 stars with 29 customer reviews. (51 complaints in the last 3 years)
I really do like the idea behind Acre Gold and feel that it's one of the most legit companies we have reviewed on our site, but unfortunately, this consistent drop in ratings is a red flag.
We have reviewed almost 300 precious metals companies in yourgoldiraguide. During this time, we've noticed that one common thing denominator among legit precious metals companies is they have solid BBB and Trustpilot profiles with lots of positive ratings and reviews.
As of June 2023, Acre Gold has no Trustpilot profile, and that makes me wonder a bit, to be honest. They also do not have ratings in other trusted websites like Trustlink, Yelp, BCA, and etc...
Acre Gold Reviews and Complaints
A big eye-opener that is noticeable about their BBB profile is how there are more complaints rather than reviews. If this does tell you something, it isn't a positive message at all.
The following below are some of the most recent reviews and complaints made by Acre Gold customers. As you can see, they are usually pertaining to poor service and complications with the products itself.
Acre Gold was sued by the California Attorney General's Office last January 2023. The lawsuit alleges that the company mislead and made false statements to customers and failed to disclose the risks of investing in Gold.
This does NOT mean that Acre Gold is a scam, but it's something to be worried about. Nevertheless, one good news is, after years of operation, they have finally been accredited by BBB since February of 2023.
Acre Gold Reddit Reviews
The company has got a lot of discussions on Reddit. Acre Gold has quite a mixed reputation as some users like the idea behind their subscription services, and some others find it stupid.
As you can see, it seems like these users don't find the subscription services as a smart investment. However, it's really up to you whether you want to invest in Acre Gold. Just do your research and critically think about it before you do.
Acre Gold Against Other Competitors
If you think that the company is not the best fit for you, you can always look out for other leading precious metal companies in the market. The following below is how Acre Gold fares against Money Metals Exchange, JM Bullion, and SD Bullion.
Gold monthly subscriptions ranging to $250
Selling and storage
Free shipping for orders over $299. $9.95 shipping for orders under $299.
Gold, Palladium, silver, platinum, and rhodium
Buying, selling, storage, loans
Free shipping for orders over $500. $7.97 shipping for orders under $500.
Gold, platinum, silver, copper, palladium
Buying, selling, storage, loans
Free shipping on orders over $199. Shipping is $7.99 for orders under $199.
Gold, platinum, silver, copper, and palladium
Buying, selling, storage
Free shipping for orders over $199. $9.95 shipping for orders under $199.
Alternatives to Acre Gold Subscription
If you're not fully sold on Acre Gold's subscription, there are alternatives to it. The following below have similar monthly plans:
- Money Metals Exchange: This company is one of the popular and biggest precious metals dealers in the USA. Interestingly, they also offer monthly gold subscriptions. They offer $10 per ounce of gold and $2 per ounce of silver. They also claim to have low premium on them!
- BullionVault: BullionVault is a global precious metals investment company that also allows you gold subscriptions monthly. They charge a 0.5% transaction fee for each purchase and a monthly storage fee of 0.12% of the value of your gold. The minimum monthly investment is $100.
- GoldMoney: GoldMoney offers a variety of monthly subscription plans for gold, silver, platinum, and palladium. The prices for these plans vary depending on the type of metal, the amount of metal you want to buy, and the storage location. They allow you to subscribe to 1 ounce of gold per month for a fee of $3.80 per ounce.
Pros and Cons of Acre Gold
- Provides affordable way to buy Gold
- Easy and convenient way to invest
- Offers IRA services
- Has a secure storage program
- Clients can cancel anytime
- Flexible subscription plans
- Few ratings and reviews and have many complaints
- Lack of transparency
- Poor customer services
- Limited options
You can buy Acre Gold tokens on the Acre Gold website or through a licensed broker. To buy Acre Gold, you will need to create an account and deposit funds into your account. Once you have funds in your account, you can buy Acre Gold tokens.
To sell Acre Gold tokens, you can simply go to the Acre Gold website or a licensed broker and sell your tokens for cash. The process is very similar to buying Acre Gold tokens.
Acre Gold is a digital asset that is backed by physical gold. Each Acre Gold token represents 0.01oz of gold, and the tokens are held in a secure vault by Acre Gold.
The time it takes to receive gold can vary depending on the market value of gold and how much you have already paid for it. The average time is four to six months, but this can be shorter or longer depending on market conditions. If the price of gold falls, your delivery may be sooner. If the price of gold rises, your delivery may be delayed.
- You can cancel or modify your Acre Gold account at any time.
- If you return a product or do not receive a shipment, you must report it within a few days.
- If you do not report the issue within a few days, you may be charged a fee or the transaction may be refused.
- You can cancel your account online or by contacting customer service.
- There is no cancellation fee if you cancel your account within 30 days of signing up.
- After 30 days, there is a $25 cancellation fee.
Should You Invest in Acre Gold? - Final Verdict
Let's conclude this Acre Gold review with my final verdict. They are indeed legit, since they do provide gold whenever clients make enough monthly payments. It also helps they got accredited by BBB this 2023.
However, since there are only a few ratings and reviews, it might not give one the warmest feeling. Yes, there are some complaints, but Acre Gold seems to work to ensure all issues are responded to and addressed.
Overall, Acre Gold provides a viable option for investors who are looking for a low-cost way to invest in gold. For now, though, I would still recommend buying precious metals the old-fashioned way to really make sure you're in the best hands.
Accumulated Acre Gold Premium is not looked upon that much but it can be heavy on your budget. Once you've completed your subscriptions, you will have paid more for that amount than you would buying from legit dealers.
Consuquently, if you want to take advantage of the retirement benefits of a gold IRA, a more traditional gold dealer, and IRA company might be advisable.
Thank you so much for reading my Acre Gold review! Leave your comments and questions in the comment section below!