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APMEX Reviews: Pros, Cons, Is It Right For You?

APMEX is one of the largest precious metals dealers in the United States. It offers many promises, including security, fairness, and transparency.

With so many dealers in the industry, finding the right one to purchase precious metals from can lead to exhaustive research.

Investors are worried about their stocks. No matter how well the stock market fares daily, there is always the worry of a recession and collapse.

Many investors seek opportunities to diversify their investment portfolios, and gold and other precious metals are attractive.

In this APMEX review, we aim to give you the facts so you can decide if the company is worth your time. We break down the costs, provide information on the selection, and offer insight into current and past customer experiences.

We will provide comparison information based on thorough research of the company so you can see how APMEX compares to other companies in the industry.

Educating yourself will ensure you purchase precious metals with confidence. The more you learn, the better equipped you will be to avoid scams.

At The Gold Information Network, we understand the importance of your financial choices and the trust you place in our insights. We conduct in-depth research on each company we review, evaluating its reviews, reputation, product offerings, fees, and history while also meticulously comparing it with similar market products.

In a financial landscape where banks appear geared towards serving the wealthy, we hold reservations about these institutions, the monetary system, and politicians. We passionately advocate empowering individuals like you with greater control over their finances. We firmly believe that you should have the authority to shape your financial future independently, reducing your dependence on institutions and politicians.

The Gold Information Networks' Quick Summary & Opinion

We reviewed APMEX, one of the largest precious metals dealers in the US. They offer gold, silver, platinum, palladium and copper products.

  •  
  • In our opinion, APMEX is a reliable, trustworthy precious metals dealer. We like their wide product selection, reasonable prices, and strong customer service.
  • The high minimum for free shipping and credit card fees are drawbacks. We prefer when dealers offer free shipping on smaller orders and don't charge extra for credit card purchases. 
  • Overall, we recommend APMEX for buying precious metals, especially if you are making a larger purchase. Just be aware of the shipping and payment policies. For selling, APMEX is a solid choice if you don't mind mailing your items to them first before getting paid.
  • Pros of APMEX: Huge selection of bullion and collectible coins/bars, competitive pricing, excellent customer service, fully insured shipping, buyback program.
  • Cons of APMEX: $199 order minimum for free shipping, credit card payments have a 4% processing fee, selling to APMEX requires mailing items in first

 

What Kind of Company is APMEX?

APMEX is a precious metals dealer located in Oklahoma City. The company opened in 2000, starting as an eBay seller. APMEX sells many gold and silver coins and other precious metals.

With over 24 years of experience in the industry, APMEX has staying power. Are they indeed a trustworthy company, or should you steer clear of their operations?

Contact Information

APMEX promises transparency and strives to offer the best customer service. Its United States-based call center is at (800) 375-9006. Its hours of operation are from 8 a.m. to 8 p.m. Eastern Standard Time, Monday through Friday.

APMEX also offers a chat that allows you to ask questions. For general questions and information, you may also email them at service@apmex.com.

APMEX Review: What Do Customer Reviews Reveal About the Company?

One of the most essential parts of investigating a company like APMEX is researching and studying customer reviews. Before buying precious metals from APMEX, you should check out consumer rating sites like the Better Business Bureau, Trustpilot, RipOff Report, and Google Reviews. From our professional experience, we have found these sites safe places to discover information.

Better Business Bureau

APMEX has an A+ rating and received accreditation in 2004. The company's customer rating is 4.16 out of five stars. There have been 126 closed complaints in the past three years and 37 in the last year.

Many customers gave five stars and praised the company for its excellent prices and customer service. Unfortunately, it appears there are more negative reviews than good ones. The following are some common themes among the complaints.

  • Lack of customer service response
  • Fraudulent product descriptions
  • Delayed refunds
  • Deceit and dishonesty
  • Lost orders
  • Poor customer service
  • Shipping delays
  • Illegal double charges
  • Fake gold

The company has a high response rate, responding to almost all customer complaints. Although some customer complaints remain unresolved, APMEX has a high resolution percentage.

Trustpilot

Trustpilot gives APMEX a bad rating of 1.7 stars out of five. Over 7,900 customers have a five-star percentage rating of 87%. There are many customer complaints, and it appears that APMEX has not responded to any of them.

We believe the lack of response looks terrible for the company. The complaints often mirror those left on the BBB.

We could not find an APMEX profile page on Consumer Business Alliance or RipOff Report. The poor customer reviews on the BBB and Trustpilot have us concerned.

Pros & Cons

Pros

Cons

Is APMEX Trustworthy?

APMEX appears to be trustworthy, but we have serious concerns about the many customer complaints and some legal proceedings brought against it.

Although APMEX legit seems to be a decent company,  we feel it has too many issues with customer service. Many negative reviews often signal a problem with how the company operates.

What Precious Metals Does APMEX Offer?

APMEX shines in its vast array of precious metals. There is something for every collector or gold IRA investor.

Many customers express their satisfaction regarding the prices of bars and rare coins, though some have experienced unfair fees and double charges on their accounts.

Gold Coins & Bars

  • American Gold Buffalos
  • Canadian Gold Maple Leafs
  • American Gold Eagles
  • South African Gold Krugerrand
  • French Gold Francs
  • Great British Gold Sovereign
  • APMEX Bars
  • Credit Suisse Gold Bars
  • Cast-Poured Gold Bars

Silver Coins & Bars

  • Canadian Silver Maple Leafs
  • American Silver Eagles
  • South African Krugerrand
  • Australian Silver Lunar Year of the Dragon
  • Australian Silver Kangaroo
  • APMEX Silver Bars
  • Cast-Poured Silver Bars

Platinum Coins & Bars

  • American Platinum Eagles
  • Australian Platinum Lunar Dragon
  • Australian Platinum Philharmonic
  • Valcambi Platinum Bars
  • APMEX Platinum Bars

Palladium Coins & Bars

APMEX does not sell palladium products at this time.

Old Coins & Paper Currency

  • $10 Lewis and Clark Note
  • 1551 Great Brittian Shilling
  • 1642 Great Brittian Crown


APMEX also sells jewelry and gifts. It offers a large selection of coins, bars, and other metals. There are also clearance sections and newly added products.

Pricing, Fees, and Minimums/Limits

Precious Metal Pricing

APMEX offers competitive pricing and has its prices listed on all gold and silver products. You lock in the price once you place an order.

If you buy at least $199 of gold and silver products, your order ships for free. For orders under $199, shipping costs are $9.95.

Fees

Unlike some precious metal retailers, APMEX does not charge any commission fees. APMEX requires other fees listed below.

  • $35 cancellation fee
  • 4% fee for certain payment transactions, such as credit card
  • 4% discount with checks or wire transfer


Minimums

  • Precious metals IRAs require a $2,000 minimum
  • The buyback program requires you to sell at least $1,000 in gold

Understanding APMEX Services

APMEX offers multiple services to help its customers invest in gold and silver. We outline the services below. These are subject to change, so check back with the company before proceeding.

Bullion Card

APMEX offers an exclusive Visa credit card that offers precious metal rewards. You can expect the following rewards from owning this card.

  • 4% back in silver and gold from APMEX purchases
  • 1% in silver and gold for all other purchases
  • 15,000 bonus points after purchasing $1,500 from APMEX
  • 0% balance transfers
  • 0% APR
  • Exclusive offers


You can use your reward points to purchase precious metals. Adding this credit card to your arsenal can help you enjoy many rewards.

AutoInvest

Some investors have such busy schedules that it is impossible to keep up with their investment schedules. APMEX allows you to auto-invest weekly, bi-weekly, monthly, or quarterly, depending on your investment preferences.

You will not have to worry about watching the market or missing out on a promising investment deal. You can change your auto-invest schedule at any time. We discovered in our own investment journeys that auto-invest makes investing convenient.

Precious Metal IRAs

APMEX does not offer gold IRA services in-house, but it partners with some of the industry's top custodians, including Kingdom Trust Company and STRATA Trust Company.

The company also partners with depositories. APMEX does not control the fees charged for these services.

APMEX Club

Once you buy or sell $5,000 in precious metals, they automatically enroll you in the APMEX Club, which has several levels.

  1. Select
  2. Premier
  3. Elite
  4. VIP

VIP is the highest level and is by invitation only. You will move up a level once you meet the minimum order threshold.

OneGold

APMEX offers a OneGold product that works like an ETF. You do not have to hold any physical metals but can benefit from appreciation.

All you need to do is open an account with the digital platform. Many find OneGold helpful because the minimum threshold is lower.

BuyBack Program

APMEX boasts of purchasing over $1 billion in precious metals. They buy bullion, bars, numismatic coins, rare coins, and currency.

You ship your insured items, they authenticate, and you receive payment for your precious metals.

Risks of Purchasing Gold & Silver From APMEX

Based on our own personal research and customer reviews, there are risks in investing in precious metals with APMEX.

  1. Shipment Risks occur with any precious metal retailer. APMEX attempts to lower the risk by insuring each shipment up to $60,000. There are still risks, whether shipping with the postal service or a provider like UPS.
  2. Home Storage Risks are also something to consider. If you invest in a gold IRA, you cannot store gold at home, and at-home storage poses theft risks. Consider a safe alternative like a safety deposit box or depository to reduce the risks.
  3. Third-party Risks can also impact your comfort level. APMEX partners with trustworthy custodians like STRATA Trust Company. You should research each provider carefully to ensure the safety of your precious metals.
  4. Lower Buyback Offers are a risk with APMEX. Customers received quotes lower than the current spot price.

Are There Better Options Than APMEX?

Based on our extensive research, we believe there are far better options than APMEX. Companies like American Hartford Gold, Goldco, and others offer superior services with a customer-centric approach.

American Hartford Gold has an excellent rating on consumer rating sites such as the Better Business Bureau, Consumer Alliance, and Trustpilot.

They aim to educate the public regarding precious metals investments and offer a fair buyback program for gold and silver. We invite you to view our AHG reviews to help you learn more.

Goldco opened in Los Angeles and practices the highest level of ethical investment services for its customers. Like AHG, Goldco has an excellent rating with the BBB and offers gold IRA services and direct precious metals to its customers. The company has over 5,000 5-star reviews.

Other companies exist, such as Augusta Precious Metals, Birch Gold Group, and Noble Gold. These companies can help you begin investing in precious metals like gold, silver, platinum, and palladium bars and coins.

From our direct experience, you must research before you sign up with any precious metals company. Failure to do so could cause you to choose the wrong retailer.

Investing in precious metals requires knowledge. Although gold is considered a safe haven investment, that does not mean there are no risks. Before you begin investing in precious metals, take advantage of free educational materials offered by companies like American Hartford Gold.

Our Final Verdict

From the lessons we've learned in our research adventures, we believe APMEX is not the best company. They may offer decent services and have a wide selection of precious metals, but we believe they must overhaul their customer service department.

There have been far too many customer complaints for us to recommend APMEX. This precious metals company needs to take customer complaints seriously and change how it approaches the shipping process and refunds.

Customers who buy precious metals from APMEX have the right to low shipping fees and insurance protection. Far too many customers have reported their precious metals lost, and APMEX has never offered a refund.

We believe there are better options available than APMEX. Before buying precious metals, consider your options.

The right company will guide you every step of the way in your precious metals investments.

We recognize the significance of your financial decisions and the trust you place in us. We've done extensive research, examining reviews, reputation, products, fees, and history to ensure you receive accurate insights.

Amidst a financial landscape where banks often favor the wealthy, we believe it's time you take control.