As mentioned previously I believe in buying gold online, and also owning it’s little brother silver. Not just the ETFs like GLD or SLV, but bullion coins in physical possession. With threat of inflation or deflation on the horizon, both commodities typically do very well. Instead of buying from a firm that dramatically marks up their coins (cough Goldline), I wanted to buy gold a few basis points over the current spot price. After researching around the net I found APMEX, and couldn’t be happier.
My Buying Experience
The more you buy, the bigger bulk discount. For example, if you bought an American Eagle Gold Coin their pricing* is as follows:
- 1 to 19 – $1,306.09 each
- 20 to 99 – $1,301.09 each
- 100 or more – $1,296.09 each
* – Price at the time of writing the article
The meltdown price of gold is currently $1,245.00* The coin itself does have an inherent value over the meltdown price, and hence the difference in price. The markup is only 4-5% which is an excellent price. If you do plan on buying a considerable amount over time, you may want to reconsider and buy all at once if the discount is right.
Payment Options
With APMEX you have a large choice of payment options. You have a choice of paying either via:
- Certified check
- Cashiers check
- Money order
- Credit card
- Check
Credit card orders have a 3% premium to other payment methods. Therefore it’s only recommended when buying in bulk. Though when purchasing via credit card it can be a method to quickly rack up those credit card rewards. Once you place your order they will honor their price for a specified time (I believe it’s 10 days) until they receive your payment. If shipped via USPS it can take a few weeks before the order is fulfilled and shipped. All shipping methods require signature, so do make sure someone can sign for it.
Readers have you ordered from APMEX? How was your buying experience? If not from them, have you ordered from anywhere else?
Have you purchased any junk silver on Apmex, and how would you rate the experience? I've been buying my silver on Ebay so far.
Hi Andrew. No I haven't.
I’ve purchased junk silver several times over the past year from Apmex and it has been a terrific experience every time. Highly recommend them.
So, you say you have not bought any silver from Apmex, but find them good? you have not used them at all? how can you say they are good? who have you used that you have personal experiance with?
Hi Mike, Where does it say I haven’t bought silver from APMEX? I have bought gold, silver AND platinum from APMEX.
I have used 3 companies with Goldline being the worst AMPEX is ok but have been using Regal Gold Coins for the last year. Either way it is best to call the phone and negotiate. Some companies will charge 30% over and other will be very fair at only 5% like Regal Gold Coins.
I agree about Goldline. I personally wouldn’t use them, but I’ve not heard or used Regal and will check them out.
I just checked both sites. As of this writing, Regal is charging 42.67 for Silver Eagles. APMEX is charging 36.80. This is an easy choice for me.
We have been buying Gold and Silver Bullion from APMEX 2009 to present. We have never had any problem with any order we have made with APMEX. We like their way of doing business, a lot better than MONEX or Goldline!!!! We have not had any dealings with Regal. We will say that having the actual bullion in your possession is a lot better that in someelse’s location (ie:MONEX). We recommend that if you buy precious metal bullion, buy it with the intention of keeping it in your possession, whereever that might be, instead of someone else’s.
Charlei & Rita
I just bought some silver for the first time from APMEX. Boy did I get had. After looking around on the enternet, I found a reputable dealer that sells silver for two dollars an ounce less. That’s alot less.
litldog, $2 less? What did you buy from APMEX? and where did you see that price? APMEX pricing is pretty much realtime, many are not.
As of right now:
http://www.apmex.com/Product/59157/2011_1_oz_Silver_American_Eagle.aspx
Silver is $34.11 and oz. One Silver American Eagle is $38.75 or otherwise $4.64 price difference. To put it differently a 13% markup in price from the raw metal. Coins themselves are typically 3-4% higher than the raw metal, which would mean they have approx. 10% margin on the cost of the coin. Not great, but not bad either.
Hi, I am considering either using Regal or Apmex. I saw there prices and they are very close. Is there a benefit from using one or the other?
I have made purchases from Kitco and APMEX. Both are generally close in price but Kitco charges a premium (calling it insurance at one time) equal to 4%. I switched to APMEX at that point and have purchased junk silver, silver bars, Liberties, gold pesos, gold bars and 100oz silver bars. Both companies delivered in a timely manner. I’d buy again from either but even now (3/2011) Kitco has a 3% premium for silver purchases shipped by mail.
I recently found some ‘replica’ coins on ebay. I have also seen some close fakes at the local coin store. I intend to keep the fakes around for home invaders (just to keep them happy (my stuff is at a local private vault using iris scanning technology and I know the owner). Some of the fakes and ‘replicas’ are pretty good so I stick to the big guys for physical. I don’t want to spend all night weighing and mic’ing every bar and coin. I am not an expert so I stay away from ebay.
I’ve been buying Gold and Silver from APMEX for two years and have not had an issues and the increase in the price of precious metals has more than made up for the shipping charges.
A very happy APMEX customer.
I have ordered twice from APMEX. The first order was as advertised and I was very pleased with turn around time and product. The second order is LOST. I can’t get APMEX to answer the phone. My check was cashed, they indicate it was shipped and it’s not been recieved. Post Office can’t locate it. I’ve left messages with APMEX without any return phone call.
The Post Office is not very reliable when delivering Precious Metals. I missed delivery on an Ampex “signature required” shipment and had to go to the Post Office to pick it up. When I got there and handed the clerk the slip left at my door, she just shoved the package at me, No ID Required, No Signature Require and away I went.
I had placed an order by check xxx, I believe my order number to be xxxx. The check was for $xx which you cashed, Can you tell me when this order will be shipped?.
the check was sent out on 3 3 2011
Thank you Don Nostrand
Don,
I am NOT APMEX. This is a review site for APMEX.
Please contact them by visiting their web site at: http://www.apmex.com/
I too have had no luck with getting APMEX to return calls. I ordered some uncirculated coins and got stained coins (only a small percentage but still…). For the type of business they are in one would think that prompt return of calls would be important. Also while the price of silver is still cheaper at APMEX, their gold quote is $30/oz over KITCO. Hopefully APMEX monitors web reporting and will start taking care of business. Another thing, none of their email addresses seem to be active I got returns on all 3 addresses. Until I hear from them I’ll do business elsewhere. I don’t mean to hurt their business but precious metals involve large sums of money and trust is paramount. At the very least I’d phone in orders and take names. Fortunately (for me) I have no pending orders.
Has anyone sold them silver dollars, i.e. Morgans & Peace Dollars? If so how reliable is their
grading? Also how timely are they with payments?
Thanks
Hey Trader Joe. I myself cannot comment on selling as I’m a holder for the long term.
I have been shopping around to buy Gold but it looks like Apex prices are a lot higher than others I have found. Either that, or they get you with hidden fees/shipping. I have not looked at Regal yet, but will head over now. Thanks for sharing, any tips for a first-time Gold buyer? And would you recommend Gold or Silver for investment purposes right now?
Well I will disagree with all the negative comments. For starters when you call Apmex there is NO option for spanish *thank god!* why can’t all companies in america do this!? All of the employees speak english. I had placed an order and didnt realize that I had to pay for my first order with check,money order, or wire transfer. It took me more than 10 days to get a chance to get a money order. They held my order a few days longer than they were supposed to and my order is being delivered tomorrow. The reps don’t try and sell sell sell why you are on the phone and I never got any sort of sales pitch. I was very happy with the way I was treated and they offer some great products. As for the extra charge for credit cards it is only a few dollars. If you can afford to buy coins and bars I am pretty sure a few extra bucks isn’t going to hurt your bank. With the way the economy is turning I personally think anyone getting into this is one of the smartest things you can do. I made an order with Universal coin recently too and had some good service as well. Everyone has some bad customer service at some point. But to say that Apmex is not professional is just not the case.
Just a follow up. In July (2011) I successfully did a purchase with APMEX. They answered calls etc. Perhaps my earlier experiences were not typical.
Hello, I just purchased 60oz of silver from AMPEX. I have not received it as of yet, but I am still impressed with their professionalism and tack. There was zero pressure to purchase this or that. Lorrie F. was a real pro and I am planning to purchasing more from her. (after I get my first order
Probably 7-8days from now. I opted to send them a personal check and save 3% free on using a credit card. A wire xfer from my bank was $8.00 too much and a hassle.
Yeah I actually got my order within 2 days of getting my shipping confirmation. I was more than happy with the service and delivery. I recommend them to anyone into collecting precious metals. I didn’t realize how small the 1oz bars were tho. I thought they were gonna be shorter than a dollar bill but almost as wide. I’m not upset by any means just thought they were funny looking on how small they are. Overall I’d rate Apmex 5/5 stars and I will be ordering from them in the future. Universal Coin has called me 3 times this week already trying to sell. The rep even suggested draining my money I have invested into stock to buy gold coins from them. I don’t like pressure selling like that. It’s rude and frustrating. I had already told him I don’t make alot of money so I can only afford when I choose to order. I NEVER received this from Apmex.
I have been dealing with APMEX for over two years buying gold and silver, coins and buillion alike.
The level of customer service, delivery and communication has been no less than five star’s, I highly recommend them and have recommended them to friends as well. With no compaints.
I have been dealing with APMEX for about two years and have always been pleased with everything I have received. I have bought Gold and Silver both and always been treated right.I have used a credit card, they do charge more for credit card purchases, and I have also used personal checks. It depends on what and how much I buy as how I pay for it. Using a card gets you a faster delivery. Because I have bought so much from them my shipping cost have been reduced which helps a lot. The only other company I have used was Goldline and I feel I was ripped off by them. I do not recommend them at all. If there is someone better to deal with I haven’t found them. I have looked at other companys and the prices were about the same as APMEX so I see no reason to change. Hope this helps.
Purchased silver eagles from apmex. They are labled san francisco mint,however they have absolutely no mint mark on them. The us mint advised that bullion coins have no mint marks. I called apmex to explain this and they were not very receptive. They tell me they are straight from the san francisco mint and are guranteed if “THE TUBE IS NOT OPENED”.. Well when you open them they are void of any mint mark,so how can they be from san fran? Apmex is misrepresenting this by lableing them San Francisco mint. So if you buy any Mint Direct from apmex don’t expect The tubes labled San Francisco mint to have the San Francisco mint mark. This is false advertising and the US mint is looking into this matter….
It is my understanding that the Silver Eagles from San Francisco Mint in fact have no “S” mintmark on them. They are shipped in sealed boxes and only the San Francisico markings are on the sealing label. Thus if you open the label of course there is no way to verify that the coins are in fact San Francisco minted. Only way for single coins is from a grading service who open a complete box and grade all at one time, thus assuring that those were in fact minted in San Francisco. Hope this makes sense to you.
People just like to complain. They fail to read the fine print. Compaints about how the shipping is. I can’t believe the one guy blamed APMEX about the post office wanting to leave it. BLAME YOUR USPS NOT APMEX YOU MORON! I also notice alot of people find the purchasing process a pain. I had to mail a money order. So a little effort was involved. Big deal. I noticed people aren’t reading the fine print on the website about what they are ordering. Go ahead and find another company if you want to complain. You’ll get nothing but people harassing you about buying and buying more and more. Apmex has NEVER called me throwing a sales pitch. Other places have called like 3 times in ONE DAY! You know how annoying this gets? I have nothing but POSITIVE remarks about APMEX. Plus they don’t make commissions. Just honest sales people who have nothing to gain but your satisfaction and the sales of great quality bullion! But I forgot, it’s America and people have the right to bitch.
How much is Apmex paying you?
They’re paying me alot. $0.00 actually. I get what I pay for and they’ve never steered me wrong. If your part of the 1% of customers that actually had a bad service your probably partly to blame. If you don’t like them go elsewhere. The rest of us whom order from Apmex are worry free and have no problems ordering from them. I use Universal Coin sometimes as well. I ordered a silver dollar coin last friday and got it tuesday. Good company but they call alot with sales pitches.
For anyone that is looking for another option, also take a look at kitco.com. they offer reasonable prices as well. But so far I have not had any bad dealing with apmex… Just sold some silver bullion to them this week. We will see how that goes. I have also purchased from Blanchard.com based out of Louisiana. They did have some persistent sales people though.
What are you serious? Kitco is notoriously over priced and doesn’t even have a BBB rating.
If ou are dumb enough to buy from them go ahead but keep it to yourself because you are leading gullible people down the WRONG road.
Listen Calvin,
I have never had a problem with them. There is no need for you to patronize someone because they are simply sharing their experience on a forum. No need to be an asshole with a bad attitude.
I have bought silver and gold coins from 3 companies in the last 3 years. Here are my rankings:
#1 Gainesville Coins. Lowest markup I have found, decent selection, easy ordering & fast delivery.
#2 Apmex. A little higher markup plus I live in Okla. so I have to pay sales tax also unless I ship it out of state to pick it up. Great selection, average shipping speed.
#3 SwissAmerica: I like Michael Savage but his sponsor has huge markup and low buy back on metals. Good service and delivery though.
If you buy the silver bar made by APMEX, can you sell it back to anyone or only back to APMEX?
I’ll grade a 7.5 .. $10 shipping with NO Combined shipping can get costly .. and on rare occurrences , l have had minor damage to a coin or two .. other then that they are pretty solid overall …….
Apmex is the most third class company I have dealt with !
On 7/23 purchased , gold and silver 2 oz’s and 100 oz bar from APMEX.At the time of placing the order both bullion showed as being in stock , since I was going to be out of the country I did a wire transfer to them expecting to receive my bullion in 2 weeks. Its been more than 2 months and yet I have not received the gold. Now the spot for gold has gone down and I end up losing money – cancelling the order will incur a fee of 100 bucks according to Apmex customer service rep Tiffany , which is totally ridiculous as gold is already off about 150 from its july spot. Scam company – big FRAUDS – terrible customer service . I ended up cancelling the order – after letting them use my money interest free for 2 months and on top paying 100 bucks penalty. Will report them to BBB and the Attorney general now – Lets see what comes out of it.
I’ve ordered several times from APMEX. I’ve never had a problem. I’ve usually paid by personal check (delivery confirmation USPS). The check was electronically cleared by APMEX. The shipment was made quickly, and I received within 7 -10 days. (FYI)
I usually buy bars and American Eagles. The bars are .999 pure bullion, so I buy for long term investment and as security in the event of economic inflation. I usually buy when there is a sudden correction in the market– like this past week. By the time I get the order, the prices have rebounded by 5% or more.
It’s a commodity, so you have to be careful on what products you buy. Some APMEX products are collector coins…I steer away from those. I’m not a coin collector and don’t know the value of rare coins. But their mark-up on bullion is reasonable – sometimes only .99 on 5oz silver bars! (Hard to beat, especially compared to companies like Goldline). APMEX prices are updated every 10 minutes during the day, so if you watch the market, you might be able to buy fairly low.
If you want to trade actively, APMEX would be too slow. You need to do commodity trades through certificates. (My opinion) But if you want to hold for the long term APMEX has a good system.
ETF , GLD’s ..you cant win , someone is always manipulating and screwing the honest hard worker ……it is discouraging ….
has anyone any experience with northwest territorial mint
I’ve made a number of purchases from Goldline and APMEX, and in my opinion there is no comparison. Goldline representatives without exception tried to convince me to buy European coins like French Roosters and Swiss Vrenelis rather than the Eagle bullion coin I actually wanted. Goldline also uses the ‘gold confiscation’ and ‘reportable purchases’ bogeymen to push European gold coins. Moreover their representatives call regularly with sales pitches, again pushing European coins with a much higher markup than straight bullion coins.
APMEX on the other hand, deals in a very straightforward manner and does not try to push the customer into buying any one product. I’ve had one small problem with a ‘junk silver’ purchase, and their representative resolved it quickly and in a courteous manner. In my experience, APMEX is a quality company and I will continue to deal with them for the foreseeable future.
Tried both apmex and goldline, wasn’t a fan. I decided to go with a boutique firm in Canada called Cache Metals and have been happy. They ship from the US, so shipping was low. Also, there wasn’t any tax on the purchase.
No complaints from Cache Metals as well. Very professional and fast delivery of my gold and silver.
I prefer the 6 dollar shipping charge from Scottsdale Silver and they even ship Free when you order more than $500.