APMEX Review 2022: Buy Precious Metals Online
With inflation through the roof and the possibility of heading into a recession soon, investors are looking to diversify. Gold, silver, and other precious metals are popular assets because they are great stores of value and can be used as a hedge against inflation.
Gold, in particular, is a popular choice for investors looking for a low-risk asset to invest in. The process of buying and storing physical gold, however, can make it a more difficult asset to access than stocks or bonds.
This article covers investing in gold, silver, or other precious metals using APMEX. It will cover what costs to expect, how inventory is stored, and some of the different types of precious metals investors can begin investing in.
APMEX review
Commissions & Fees - 7
Customer Service - 8
Ease of Use - 9
Education - 9
Variety of Products - 10
8.5
Total
APMEX is one of the largest dealers of precious metals in the U.S. It offers a safe, trusted way to invest in gold and other metals. Sign up for auto-investing or a precious metals IRA, but be sure to investigate the fine print: you may not get a great price when you sell your assets back to the exchange, and some services may incur fees.
APMEX Pros & Cons
pros
- Wide variety of precious metals to choose from
- Automatic investing options
- IRA-eligible
cons
- Some payment methods incur a 4% fee
- Storage and shipping fees are slightly higher than other platforms
What Is APMEX?
APMEX – or the American Precious Metals Exchange – is one of America’s largest precious metals dealers. APMEX offers a variety of products, including gold, silver, and palladium bars and coins.
Founded in Oklahoma City in 2000, APMEX originally bought and sold precious metals on eBay. Today it is a standalone business and is one of the most established and credible exchanges in the United States.
Get into gold >>> Is Gold a Good Investment?
What Does It Offer?
APMEX works with buyers and sellers to facilitate the acquisition or sale of precious metals. They offer investors different ways to purchase and store precious metals and a buyback program for individuals looking to liquidate their holdings.
The Bullion Card
The Bullion Card is a Visa credit card. It is the first precious metals reward card on the market and is exclusive to APMEX. Its rewards include:
- Introductory 4% back in gold or silver for purchases made on APMEX
- 1% back in gold and silver for all other purchases
- 15,000 bonus points after spending $1,500 (about a $150 value)
- 0% introductory APR
- 0% balance transfers
- Exclusive offers for cardholders
Just like a regular reward credit card, the Bullion Card allows cardholders to earn points that can be exchanged for gold or silver.
AutoInvest
One of the downsides to investing in precious metals is the inability to auto-invest. APMEX solves this problem by allowing investors to set up recurring purchases with their AutoInvest feature.
You can participate in one of the weekly, biweekly, monthly, or quarterly AutoInvest schedules. This simplifies the process and allows investors to benefit from investing regularly regardless of price fluctuations.
Precious Metal IRA
Investors can open an IRA or transfer an existing IRA to APMEX via a custodian partner. APMEX works with several different partners who can help investors open an account.
Once an investor has an account, they can choose from any IRA-eligible products APMEX offers. These include:
- Gold above .995 purity (except U.S. Gold Eagle coins)
- Silver of at least .999 purity
- Platinum of at least .9995 purity
- Palladium .9995 purity
Setting up a Gold IRA with APMEX is free but be prepared to meet their $2,000 purchase requirement. Per the IRS, IRA account holders cannot hold their own inventory. Expect to also pay storage fees for your custodian to hold your inventory on your behalf. For portfolios valued at less than $25,000, investors are charged a flat storage fee of $15 per month.
Unlike traditional IRAs that penalize you for withdrawing your money early, an IRA with precious metals can be withdrawn anytime. Withdrawal fees can range from $50 to $75, depending on the withdrawal size and any costs associated with shipping.
Read more >>> How to Invest in an IRA
APMEX Club
When you place two orders or buy or sell $5,000 worth of precious metals with APMEX, you’re automatically enrolled in APMEX Club. Being a member of APMEX Club gives you access to special sales, exclusive offers, and even your own account manager.
APMEX Club has different levels of rewards based on how much you use APMEX. The levels are as follows:
- Select: Buy or sell $5,000 with APMEX or place between 2-5 orders
- Premier: Buy or sell $10,000 with APMEX or place between 6-9 orders
- Elite: Buy or sell $20,000 with APMEX or place 10+ orders
- VIP: This is the highest level of membership, and it is invite-only
OneGold
OneGod is APMEX’s digital precious metal product offering. Like an ETF, OneGold allows you to benefit from the appreciation of gold and silver prices without physically holding inventory.
Users can open an account with OneGold’s digital platform. Investors can purchase precious metals individually or set up auto investing. Digital ownership can have a lower barrier to entry for many investors, especially those investing in precious metals for the first time.
Read more >>> How to Invest in a Gold ETF
Other Features
APMEX offers a variety of ways for investors to purchase precious metals, including cryptocurrencies. APMEX uses BitPay, allowing customers to pay using Bitcoin, Ethereum, and Dogecoin. While this service is convenient for crypto investors, it incurs an additional 4% fee.
APMEX also offers a buyback program. This is an alternative to selling on a third-party marketplace like eBay. It allows investors to quickly liquidate their gold or silver without waiting to find the right buyer or paying expensive fees to sell and ship precious metals. But to qualify, you must meet a minimum selling requirement of $1,000.
What Are the Fees and Limits?
Everything on APMEX is priced according to the market demand. This means prices and minimums vary based on the metal. Prices are locked in once you place an order.
APMEX does not charge commissions, and orders over $199 ship for free. Cancellations incur a $35 fee, while certain payment methods, like paying with a credit card or crypto, incur a 4% fee. (Conversely, direct payments via check or wire transfer get a 4% discount).
There are some minimum requirements to use some of APMEX’s services. A precious metals IRA requires a $2,000 minimum purchase, while APMEX requires that investors sell at least $1,000 to them at a time.
Selection of Precious Metals and Coins
APMEX has a vast selection of precious metals and is one of the largest exchanges in the country. It primarily offers bouillon coins and bars in gold, silver, platinum, and palladium.
Popular items include:
- Gold and silver bars
- Silver and gold coins from different countries like Canada
- Gold foil notes
It also offers paper currency, rare coins, and collectible coins catered toward numismatists and collectors. These products can include coins from countries like Australia and Canada and fun collectible coins such as a Bitcoin round and a set of silver Star Wars-themed coins.
How Do I Contact APMEX?
APMEX is well-regarded for its customer service. The number for their U.S.-based call center is +1 (800) 375-9006. Representatives are available Monday through Thursday, 8 AM to 8 PM (EST) and Friday, 8 AM to 8 PM (EST).
You can also make inquiries via live chat or email:
- General inquiries: service@apmex.com
- IRAs: ira@apmex.com
- Citadel: citadel@apmex.com
APMEX prides itself on its customer service; however, in recent years, complaints have been posted to review sites like TrustPilot. Customers generally report a good experience buying coins from APMEX but have difficulties contacting customer service and sorting out issues when they try to sell.
Is APMEX Legit?
APMEX is not only legit, but after 20+ years in business, they are one of the country's most credible and reliable precious metal exchanges. A team of numismatists who are experts in coins, paper currencies, and precious metals vet APMEX's products.
That being said, investors will want to consider the risks of purchasing gold and silver through an exchange, such as:
⚠️Unsecured Transportation Through the Mail
Transporting precious metals through the mail carries significant risks. While the U.S. Postal Service is quite reliable, it's far from perfect. When sending any form of money — whether it's cash or gold bars — there is always a risk of it getting stolen. APMEX tries to mitigate this risk by insuring all shipments to and from APMEX for up to $60,000.
⚠️Low Buyback Prices
While APMEX does offer a buyback program and argues that it is better than an investor trying to sell their coins on eBay, customers report a different experience. The initial buyback price quoted is not necessarily guaranteed. If a trained APMEX numismatist reviews your items and determines them to be lower quality, they may offer a lower price. At this point, APMEX is already in possession of the item, so it could be more of a headache to have it returned to you so you can try and sell it elsewhere.
⚠️Home Storage Can Be Risky
Storing precious metals at home also comes with risks. Keeping your inventory in a safe at your house might seem like the best option, but you might not be equipped with the right storage solution. Depending on your insurance policy, an unexpected event like a burglary or natural disaster might mean you lose your metals for good.
⚠️Custodian Services Have To Be Trustworthy
A custodian service, like the one provided by APMEX, is one way to avoid receiving and holding physical precious metals in your home. This service usually charges a small monthly fee to hold your items on your behalf.
While this is generally considered safe, with any trusted third party, there is still some risk. You rely on the third-party custodian to store your gold and keep adequate records of your holdings. Should something happen to them, you may lose access to your stock of precious metals.
Best Alternatives
While APMEX is one of the country's oldest and largest precious metal exchanges, it isn’t the only place you can stock up on gold or silver.
JM Bullion
JM Bullion is a bullion dealer based in Dallas. They are one of APMEX’s biggest competitors and offer a variety of gold, silver, and palladium products.
Like APMEX, JM Bullion offers IRA-grade metals and accepts various payment methods, including Bitcoin. When it comes to prices, both in terms of the spread and shipping costs, JM Bullion is a little bit cheaper than APMEX.
Money Metals Exchange
Money Metals Exchange is another competitor to APMEX. Similar to APMEX, Money Metals Exchange offers automated investing and competitive pricing.
A unique attribute of Money Metals Exchange is its loan program. Customers can take out loans using their gold and silver deposits as collateral. Loan applicants can borrow up to 75% of the market value of their precious metal assets.
Bottom Line
Precious metals might be a good store of value when the economy takes a downturn and can be a good hedge against inflation. Whether you want to store gold or silver yourself or take advantage of custodian storage solutions, APMEX has an option for you.
APMEX offers a wide range of products and services, including a digital investing platform. This makes it easier for new investors, especially digital natives, to invest in precious metals. The Gold IRA is also a unique investment option for investors who want to hold precious metals in their retirement portfolio.
More on precious metals:
- Gold vs. Silver: Why Silver is a Better Investment than Gold
- Bitcoin vs. Gold: Which One Is A Better Investment?
- Why Putting Gold Into an IRA Is a Dumb Idea
I’ve made several purchases from APMEX, both gold and silver bullion “rounds”. Mine have always arrived in good shape and in a timely fashion (2 days). I’m in Texas. I have no complaints whatsoever and would recommend to anyone looking to start investing/collecting.
This group is terrible. Ordered 7 ounces of gold, they charged my credit card and then sent an email stating they cancelled the order. Again, they successfully charged my card! They said their 3rd party processing company determined it was “fraud”. Absolutely insulting! It will take many days for the successful charge to be credited back to my available balance.
I’m looking to invest in physical gold (my first time) and see a range of prices on the internet. While I’m aware that no one can buy gold at ‘spot’ prices, the US Mint (US Govt owned) is charging ~30% premium as compared to some sites like APMEX etc. For folks who have purchased from APMEX/Regal:
How confident are you of the gold purity?
Have you every got the metal tested for purity standards?
What certificates of authenticity do you get with your purchase?
Have you seen any issues with the resale of gold bought from APMEX/Regal?
I have placed orders from Canada, 3x so far in 2015 , great selection, had 1 issue with doing buisness with apmex!
The second order by Fed x tracking # said it was delivered by Fed x to my resident…not the case. Called apmex and started an insurance claim/investigation and had good customer service for my lost order . They found the order still in the Fed x system on a Friday and was delivered following Monday. …I’m happy with the service I have received from apmex and the lost package was received 6 business days later….
I have recommended Apmex to friends….also found Silvergoldbull.com closer to home in Calgary Canada and the shipping is $9.95 or free if order is over $2999.00.
I cannot understand why anyone would buy a coin on Ebay from Ampex. First THEY select which coin out of a batch that you will be shipped. For instance they have a number of First Spouse gold coins they want to sell. But, if you buy one, you, the buyer do not get to select which spouse. Ampex does. That is just plain stupid. Also their $15 flat shipping fee is pure fiction. Many of the coins they have for sale cost less that the shipping.
So, if you are a beginning collector, go somewhere else to buy the coins you want. Ampex is the only seller I have ever seen where you do not get to choose what specific coin you want. It is beyond crazy.
Now, the may offer good bullion prices, but I seriously doubt it. I have compared prices for both silver and gold bullion across many sellers and no found Ampex to offer any savings.
I recently bought what was supposed to be a sealed 10 pack of .999 oz. silver ingot bars. When I rec’d the package, one was actually replaced with a poor quality ingot. The moron didn’t even put the bad ingot it face up like the other nine. It appeared with a perfect cut through the thick plastic casing that it was a razor blade of some sort as the cut was perfect. And this was thick plastic packaging. Sealed with a piece of tape. I wrote them and told them. No apology, they’d send an email with a return address label I informed them I needed it by snail mail as my printer is down. I even asked them to replace it with a non damaged one, then I’ll return the bad one I got. Figured I trusted them with my money, now trust me with their product. I have 8 years of 100% perfect feedback as a buyer. They wouldn’t do it. They took so long to reply to each of my emails they played me where you cannot open a dispute over 30 days with ebay. But thank God Pay Pal it’s 45 days and I opened a dispute with them. They may have been a good company years ago where I read reviews from ’11 but it seems here in ’13 and ’14 there seems to be quite a few complaints all over the net including here on Google. Stay away. The treatment I’ve received is despicable. I never complain but this is one for the books. They have become unreliable and rarely answer your emails if there’s a problem. And receiving a set of 10 that was supposed to be manufactured sealed only to be cut open by an employee and replaced with a poor quality ingot is despicable.
Apmex is a decent company. Ive purchased about 30 ounces of silver eagle bullion from them within 2 months. It has never taken me over 4 days to receive my order of both graded and bullion pieces as they normally all qualify for the speed shipping.(with no extra shipping charge) Gold has been just as good in quality and speed of delivery. I would recommend them to anyone. They also offer to by any order back outside of their normal refund procedures and swap policy.
Good company so far.
Has anyone ever purchased from A-Mark? I am researching for my boss who would like to invest in about 10,000 oz of silver which in my opinion is significant and I want to do some research first. I see APMEX has a significant amount of positive feedback but the other company seems to have a better over/under spot rate for purchasing and buy back. Any advice?
I recently purchased one silver from apmex and as mentioned above it is the most painless and convenient way to purchase precious metals via the internet ive seen.
I have been buying from Apmex for over a year now. The keep me posted on deliveries, tacking numbers etc. Knock on wood I have have had not one issue with them. This equates almost 20 separate purchases. There standard shipping cost is little high for smaller purchases, but on the whole they have been timely to their word.
Apmex provides great customer service and ships quickly. I ussualy recieve my order in 3 days from date of order. Generic silver goes for about 1.20 over spot. Only thing i have negative to say about apmex is the $20 s&h But thats onlinecshopping for you
Over the last three years I have bought and sold silver through APMEX without any problems or reservations. I think they are great people and are very reputable.
The next time I purchase any physical gold or silver, it will be from APMEX (as have the last half dozen orders, I’ve placed). I see NO reason to look anywhere else.
Worst online experience with Apmex. The Customer service sucks is not friendly. No Prompt delivery. Prices are high compared to other sites and misguided prices on their website.
Count me in on the complaints list for apmex.
Ordered a coin and two bars as a gift.
Expected ship date of 3/22. Got an email 3/25 oops, out of stock.
Disappointing experience and unsatisfactory resolution (wrote complaint back and haven’t gotten any response back).
I bought 20 gold coins late 2012, at the time I placed the order I told the sales person that I had to have the coins by a certain date. He said no problem if I got the check in the mail the next day. I got the check in the mail the next day. As the time drew near I was told that if I wanted to get delivery by the date I needed them that I would have to pay a $30 fee for faster service. I paid the fee because it would have incurred a lot of fees to cancel the order. I got the order 12 hours before i left for the trip. There price was a little lower than some other dealers but there were some things that I did not get from them. 1) good service 2) the coins were not in any kind of a holder, that cost $1 additional per coin and they didm”t put the coins in the holder. 3) The coins were not graded which means that it will be a problem when I decide to sell them.
Every since I have done business with them I have been getting cold calls trying to sell me coins all times of the day and night. Needless to say I will not do business with them again.
Thanks Larry
do you have to sell back to apmex or can you sell to anyone
Hi Jack, Anyone. Gold is gold.
Apmex charges top dollar for shipping, yet my orders always take a few weeks to arrive. You’re basically paying next-day air prices but getting fourth class mail service. I imagine this is a strategy to make extra profit, because there is really no justification for it. Just something to think about.
Also, I would suspect the author of this article gains some benefit from shilling for them. Not sure if this is an unbiased source.
Mack,
At this time I have no relation with APMEX other than a happy customer. I have ordered from them again in the past 6 months and my recommendation/rating has not changed.
Apologies if my guess may be incorrect. It may very well be, but it’s not paranoid to wonder. Lots of bloggers are paid shills. Not sure about some of the comments though… they seem highly suspect. A little too over the top to seem genuine in my opinion. Many businesses employ a strategy of seeding comment sections with their own spinners, so it’s really not much of a leap to think this is happening here.
For example, who writes something like this unless they work for them?
“We recommend APMEX without any reservations whatsoever!!!”
Really, Anthony? You love them *that* much? OK! Maybe…
Maybe…
I wonder about the qualification of “at this time”.
Mack,
Since you asked… APMEX at one point was an affiliate on this site, and at times I have seen ad banners served via Google Adsense from APMEX on this site (we cannot control the ads displayed). It is also possible we will have a relationship with them in the future.
We do reviews of products we’ve actually used. In the end, you do have to take my word for this since you cannot see any coins I’ve purchased from them. We only recommend products we actually like.
I cannot speak for the “product shills” web sites you reference. We believe any half-experienced Internet user sees through these shills, and these sites usually aren’t around for long.
We do not let any advertising relationship affect our review, nor allow any input to our content other than anything that is technically incorrect with our review (ie they don’t accept PayPal as payment).
Read our disclaimer link below for more information. We are transparent in these details. We are a commercial site, yes. Do we try to be as objective as possible, yes as well.
As far as commentators on our site… We do try to remove any of the obvious fake comments, but it is an imperfect process. Caveat emptor should always apply to anything read on the interwebs.
Lastly, we have no reservations of commentators giving negative comments. Your comment was allowed unmodified. As long as the comment is on topic, and objective – your voice will be heard as well. Though typically with comments it’s usually 10-1 neg/pos ratio. People will typically bitch/complain about a poor product/service experience than comment with a positive one.
Regards..
I never related that I “love” APMEX. I gave a recommendation and stated that I recommend them without any reservations. I was very scared toorder the bullion being a 1st time buyer. When we received the shipment and had to sign for it, I was impresssed. When the bars were shiny, had consecutive serial numbers, and were individually plastic-shrunk, I was impressed. I stayed away from their APMEX brand bars, but maybe they’re OK.. I also liked the JB bars rather than a brand that I haven’t seen elsewhere because I read somewhere to buy them. I Thats why I gave the recommendation. To me it is scary buying for the 1st time from the web. I was just pleased with how this company handled the order. Plain and simple. I certainly am not a shill whatever that is.
A shill is a person who publicly helps a person or organization without disclosing that he has a relationship with that person or organization. It’s a marketing tactic that’s becoming more and more commonplace in blogs and comment sections. But honestly, if you say you’re not then you’re not. Apologies if i’ve offended. The enthusiasm seemed a little too much like a marketer’s dream, but if your had a great experience and want to tell others of it, that’s probably a great thing. Again, sorry if I’ve offended. Best of luck in your endeavors.
*you
We purchased 100 oz from APMEX, which was our first bullion purchase. We did our research and found their prices to be LOWEST on bars. We ordered on-line and it was easy to use. The bars that we received were individually sealed with consecutive serial numbers. The packing was better than excellent. The box came with a signature required, which is what we asked for. The bars were brillant, not tarnished. The bars shipped out and were delivered in two days, much faster than was expected. Fedex tracked the shipment and called to ensure we would be here. We are going to order more, mainly because they made our first purchase so smooth. We were anxious, but didn’t have to be in the end. We recommend APMEX without any reservations whatsoever!!!
i will never use apmex again my ck was a little late they cashed it and took half of my money and sent the rest back with no order called them and they said sorry so dont use apmex you might get ripped off
I have been unhappy with my last purchase with apmex too. Bad shipping and the support wasn’t interested.
I wanted to buy some silver bars and saw ads on kitco.com and tried them a few weeks back. No complaints. I may still go to apmex if they have a good deal but cache metals was cheap and no issues. I talked to a guy named “troy” about buying a few troy ounces. Funny eh.
Ordered from APMEX twice in past few months.
First time was great. Phone rep was very helpful, USPS tried to deliver and held for me until I could pick up. Bam, no problem. Completely happy with product.
Second time was a little bit frustrating. Phone rep again was very helpful, this time shipped FedEx, attempted delivery but I wasn’t home. I knew I wouldn’t be available to sign so I tried to reschedule, but according to FedEx tracking, package not available for hold, so they tried three days straight with no luck. Package was in limbo for a few days. Called APMEX to tell them of situation (not delivered, not held, etc.) and they tell me FedEx actually IS holding it at a driver only distribution center in the next state over, and that I can pick it up between certain (limited business) hours. I asked if there was another option since this was out of state and was told there was no other option unless I wanted them to call the package back and pay for shipping again. I told them this didn’t happen the first time when it was shipped USPS and they told me I should have chosen to ship USPS. I informed them I was not given that option either time when I ordered over the phone. They were not willing to do anything. Had to take time off from work to drive to this out of state remote facility to get my package. Again, completely happy with product though.
Had this happened the first time, I would have known this is how it is, but the fact that things changed the second time around (different shipper) unbeknownst to me is part of the problem, as well as APMEX unwillingness to go the extra mile for a customers inconvenience. I didn’t demand anything, but I was really disappointed at their “sorry, nothing we can do” attitude.
I actually received their “you should have received your order by now” survey email before I had my order, so I had to wait to take it, and I told them how the whole process made me feel. I got a response within a few days saying we apologize for your shipping problems, but we do offer both FedEx and USPS shipping options for future orders. Again, left me feeling like they didn’t care that much and that it was somehow my fault, especially over something seemingly so minor (reship) to them.
So, bottom line is, I like their products and would order from them again, but because of this little issue, I’m going to try other places as well. After my first order I thought, APMEX is my place! But after the second time I thought…ok, they’re still good, but a little unwilling to help post sale so maybe I’ll spread my purchases around.
P.S. To top it off, FedEx let me walk out of their facility with the package with nothing but a signature, but APMEX never addressed that in response to my survey comments. Sure, that’s a FedEx deal, but I would be very concerned if I were APMEX and my shipper was doing this with these kinds of orders.
USPS is a total joke. When they deliver packages to my address, they continually send them to another city and then spend a week recovering the package while continually moving the deliver date back. No one should send ANYTHING via USPS. Fed Ex, & UPS are like clock work and always get a REAL Signature.
When I checked the delivery status at USPS it says it was delivered at 10:58 AM and signed by me. I was at my work from 6:45 AM until 4:45 PM. The proof of delivery emailed to me by USPS has no signature on the “signature of the recipient”. When I called the post office they told me it was left in my mail box. Why would someone leave a package that needs signature confirmation in my mail box without getting my signature? This is my first buying experience and been a nightmare so far calling APMEX and local post office. They already cashed my check for $2000 more than a week ago. APMEX should fix their product delivery issues. I have been living at my new home which is in a very reputed neighborhood for more than a year and never had lost packages. I understand it is USPS fault but APMEX should pick a postal carrier who is more reliable and deliver packages only to the recipient after getting signature.
Update: I still have not received the product i have ordered. APMEX has initiated a lost package claim with the U.S. Post Office. Normal USPS investigations can take between 2 and 4 weeks to conclude. If the package is never found, APMEX makes the decision on what to regarding the claim after 30 days from the shipping date. No email or phone calls from APMEX on what is going on and I have to call them and email them everyday to get updates. I am a doctor and have lots of important things to do than calling APMEX everyday to get updates. I called the local USPS office and they claim the package was left in my mail box, so according to them it was delivered and NOT lost. I did not see any package in my mail box and did not receive the product. The proof of delivery is blank and has no signature. If the product is insured, APMEX should get the money back from USPS. Is the investigation going to trace the package and recover it? The USPS site says it was delivered and so does the local post office. So why do I have to wait for a month from the shipping date when I already paid for the product. This does not make sense! This will be my last time dealing with APMEX . I am going to send a report to BBB rating bureau on this
I prefer the 6 dollar shipping charge from Scottsdale Silver and they even ship Free when you order more than $500.
No complaints from Cache Metals as well. Very professional and fast delivery of my gold and silver.
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.
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.
has anyone any experience with northwest territorial mint
ETF , GLD’s ..you cant win , someone is always manipulating and screwing the honest hard worker ……it is discouraging ….
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.
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’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 …….
If you buy the silver bar made by APMEX, can you sell it back to anyone or only back to APMEX?
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.
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.
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.
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.
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….
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.
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.
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.
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.
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.
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?
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 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.
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 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’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 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 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.
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 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-bu
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.
Can anyone explain why the markup, or premium, on silver is so much greater than on gold, going by % points?
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 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.
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.
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.
I have bought over $30,000 in secondary market gold and silver from APMEX.
I highly recommend.
Have bought from Apmex 2x and very satisfied with the quality of the Nobles and also the quick
handling time. Wont go anywhere else-recd my shipments within 2 weeks of mailing a personal check.
Couldnt be an easier site to order from. As a side note, placed an order with Northwest Territorial Mint
their pricing was slightly better that day, but it is going to be 2 1/2 months before I get my coins.
FORGETABOUTIT!!!
How is your experience buying on Ebay, any suggestions or things to stay away from?