Founded in 2000, APMEX (American Precious Metals Exchange) is one of the largest online retailers of precious metals in the United States and the world. Headquartered in Oklahoma City, the company offers more than 30,000 products, including gold, silver, platinum and palladium. Although APMEX is based in the United States, its online platform allows it to sell precious metal products to customers in more than 60 countries.
Below, we explore APMEX’s products, fees, customer experience, and how the company compares to other precious metals dealers.
Overview of APMEX
APMEX is a precious metals dealer that lets you buy and sell gold, silver, platinum, and other precious metals through an online marketplace. You can browse products online, place your order, and have your purchase delivered to your home. If you decide to sell later, APMEX also offers a buyback program to liquidate your holdings.
If you are interested in a Gold IRA, APMEX can also help. However, please note that APMEX is a dealer and not a custodian or storage provider. In other words, they sell silver and gold, but they don’t directly store the metals or manage retirement accounts. Instead, APMEX works with third-party custodians to manage self-directed IRAs and IRS-approved custodians to store physical metals.
APMEX products and services
- Physical metal: APMEX offers a wide range of precious metals and is one of the largest online dealers in the country. We mainly offer gold, silver, platinum and palladium bullion coins and bars. But you can also find rare and collectible coins for numismatists, coin researchers, and other hobbyists. In terms of products, APMEX offers gold coins from various countries including the United States, Canada, Australia, and China.
- Precious Metals IRA: Beyond physical products, APMEX also offers special services for setting up a Gold IRA, which allows you to hold physical gold and other precious metals in a tax-advantaged account. The company also works with IRS-compliant custodians such as Equity Institutional to store Gold IRAs.
- Metals covered include:
- Gold with a purity of 0.995 or higher (excluding US Gold Eagle)
- Silver with purity of 0.999 or higher
- Platinum and palladium with purity of 0.9995 or higher
- Automatic investment: APMEX offers APMEX AutoInvest, which allows you to set up subscriptions for a variety of precious metal products.
- Bullion card: Another unique feature is the Bullion Card, a Visa credit card that gives you gold or silver rewards on purchases. Earn up to 5% back on APMEX purchases on Gold and Silver and 15,000 bonus points after $1,500 purchases.
- One Gold: APMEX also offers OneGold, a digital precious metals investment platform that allows investors to buy and sell gold- and silver-backed digital assets without the need for physical storage.
Invest in gold with APMEX
How the APMEX process works
Here’s what you can expect when you buy precious metals from APMEX.
- Compare prices. Product prices are posted on the APMEX website and are updated throughout the day based on current precious metal market prices.
- Please order. Add your desired items to your cart and checkout using your preferred payment method, including bank transfer, ACH transfer, or credit card.
- Fix the price. Once your order is confirmed, your purchase price is fixed, even if the market price changes thereafter.
- Receive your luggage. Your order will be packed and shipped to your home or another approved shipping address.
- Save the metal. You can store your precious metals at home, in a secure third-party storage facility, or, if you open a Gold IRA, in an IRS-approved vault.
- Sell when you’re ready. If you decide to sell, APMEX offers a buyback program where you can request a quote for eligible products.
APMEX Fees and Pricing Considerations
APMEX product prices are affected by fluctuations in the market prices of gold, silver, and platinum. APMEX posts the prices of their products online so you know what you’re getting. You can also sign up for price alerts to be notified when the price of a product you’re interested in changes.
The company doesn’t have a minimum amount for domestic orders, but it does charge a $9.95 shipping fee for orders under $199.
Also, if you are interested in secure storage, APMEX has a storage pricing calculator on their website that allows you to estimate storage fees, annual fees, and monthly fees based on the value of your portfolio. However, the storage rate is generally 0.55% and the monthly minimum is $15.
Hint: Make sure you understand exactly what you’re paying for before you buy. This is because markups and fees can make it difficult to make a profit later on. So always ask your dealer for written documentation of the purchase price, current spot price, repurchase policy, and fees.
APMEX reputation and customer experience
APMEX has an A+ rating from the Better Business Bureau, with an average of 4.02 stars from over 200 customer reviews.
The company also has pretty solid reviews on Trustpilot. It has an average rating of 4.2 stars from over 9,000 reviews. Most of the positive comments praise the company’s wide selection of products and its efficiency and helpful service. However, some customers pointed out that APMEX’s prices can be higher than other vendors and can lead to issues such as order cancellations and product description discrepancies.
Advantages and disadvantages of APMEX
Weigh the following tradeoffs before committing to APMEX.
Strong Points
- Free educational resources on the website
- Access to over 30,000 gold, silver, platinum and palladium products
- No minimum purchase amount for domestic orders
- Clear prices are posted on the website
Cons
- Orders under $199 are subject to a $9.95 shipping fee
- May charge higher markups than some competitors
APMEX vs. Competitors
APMEX is one of the leading players in the precious metals industry, but it’s not the only option. Compare APMEX with others before making your decision.
conclusion
APMEX is one of the most reputable precious metals dealers on the market. However, please note that investment results are not guaranteed. Research and compare at least three companies before purchasing gold. Also, always request fee disclosure in writing and consult a qualified financial professional before investing your hard-earned cash in precious metals.
APMEX FAQ
Is APMEX an authorized gold dealer?
Yes, APMEX is an authorized precious metals dealer. The company is BBB accredited and has been in business since 2000.
Does APMEX offer a Gold IRA?
yes. APMEX partners with multiple IRS certified custodians and offers a large selection of IRA-eligible gold, silver, platinum, and palladium products.
Is it safe to buy gold through a dealer like APMEX?
Purchasing gold through a dealer like APMEX is generally safe. That said, gold is subject to market risk and prices can fluctuate, so be sure to perform your due diligence before investing.
