- Review of: APMEX
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The leaders buying or selling of precious metals online. The APMEX service is easy to use and has many types of options in coins, bullion, and collectables. We only wished their service fees to buy or sell were lower.
As mentioned previously, I believe in buying gold online, and also owning its 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.
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
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?