APMEX Review 2024

What is APMEX?

APMEX is a leading online retailer specializing in the sale and purchase of precious metals. Catering to investors and enthusiasts alike, APMEX provides a comprehensive range of products and services, from traditional metals to innovative investment tools and accessories. Key offerings encompass:

• Portfolio management capabilities
• The Bullion Card for easy transactions
• APMEX Autoinvest for automated investing
• APMEX IRA for retirement savings in metals
• APMEX Bullion Club memberships
• Multiple payment methods to facilitate purchases
• Storage
• Currency sales for diverse investment options

For those looking to enhance their collection, APMEX also offers an array of non-metal accessories, including coin storage capsules, display boxes, literature, safes, and tools for examining items in detail. Furthermore, individuals wishing to liquidate their metals can benefit from APMEX’s buyback services, ensuring competitive prices for their gold and silver assets.

APMEX At a Glance

External APMEX Reviews & Ratings

Firsthand User Experience with APMEX

Here are some reviews from traders who have experienced the platform firsthand:

How APMEX Started

Founder Scott Thomas’s grandfather was a mail-order coin dealer, which sparked Thomas’s interest in coins and metals. Almost 20 years after his grandfather passed away, Thomas uncovered his unsold inventory (worth over $100,000 at the time) and began selling them on eBay.

Over time he began buying and selling coins and metals. He outgrew his basement, so he founded APMEX and bought the Former Federal Reserve building in Oklahoma City to act as a precious metals storage and storefront to sell from.

Today APMEX has over 800 employees and is an innovation leader in the industry.

APMEX Investment Options

APMEX, the American Precious Metals Exchange, offers a wide range of products related to precious metals. Their offerings include:

• Gold, silver, platinum, and palladium coins, bars, and rounds.
• Rare coins, currency, and other collectible items.
• APMEXclusive® Certified Coins, which are exclusive gold and silver bullion coins minted from various mints around the world, such as the U.S. Mint, The Perth Mint, and the Royal Canadian Mint.
• Jewelry, such as necklaces, chains, bezels, earrings, bracelets, and men’s jewelry.
• IRA-approved metals
• Semonumismatic and numismatic products
• Ancient coins and unique offerings, such as Bullion Cards and precious metals IRA

Overall, APMEX has more than 40,000 products listed on its website, providing a comprehensive range of precious metal investments and collectibles.

APMEX Pricing

APMEX prices its metals according to market demand for that specific metal, so minimum investment varies. As an example of the range, for this review, we sorted APMEX’s “most popular” metals products by both lowest and highest price (as of May 1st, 2023):

• Lowest: 1/10 oz Silver Round – Aztec at $6.69
• Highest: 1-kilo gold bar – Pamp Suisse at $66,543

So, as you can see, the pricing varies – which also means that it takes very little starting capital to invest in precious metals with APMEX!

APMEX Features

One of the biggest draws to APMEX is the sheer variety of proprietary, unique features that set it apart from the standard metals secondary markets.

Portfolio Management

APMEX offers a free service to account holders (it’s also free to open an account) that lets you create a portfolio of your metals to track your investment. Instead of monitoring the weights and having to look up daily market prices, you enter your assets into their webpage or app and create a virtual snapshot of what you have and its current worth – just like you would see if you looked at your stock portfolio.

APMEX also offers portfolio alert tools to maximize your strategy. These alerts can:

• Notify you when a metal reaches a set price to inform your buying and selling strategy.
• Notify you when a specific product they offer reaches a certain price that you want to purchase it at.
• Notify you when popular products that sell out fast are restocked.

The Bullion Card

The Bullion Card, a standard credit card managed by Visa, offers perks specific to APMEX. Right now, everyday spending with the credit card will earn:

• 4% back in gold and silver for all purchases made on APMAX.
• 1% back in gold and silver for all other purchases.
• 15,000 bonus points ($150 value) after spending $1,500.
• 0% introductory APR.

This is in addition to all other standard Visa credit card perks, including lost luggage reimbursement and roadside assistance.

APMEX AutoInvest

APMEX’s AutoInvest program lets you set up recurring purchases for metals – just like you would set a regular deposit into your retirement account; this program enables you to:

• Select from a range of metals products to auto-invest in that range in value. For example, you can auto-invest 1 oz silver round coins for $24.99 or 1/4 oz gold coins for $587. The bottom line is that, like all of APMEX’s other products, every budget has an auto-invest option.
• Set frequency of auto-invest – daily, weekly, biweekly, monthly or quarterly.
• Select your payment method.

APMEX Precious Metals IRA

APMEX offers a comprehensive Precious Metals IRA service, allowing you to diversify your retirement savings by investing in gold, silver, platinum, and palladium. Their IRA specialists are available to guide you through the process, ensuring a smooth experience while you secure your financial future.

Key Features of APMEX Precious Metals IRA:

Wide selection of IRA-eligible products: APMEX offers a vast range of IRS-approved precious metals, including popular coins like American Gold Buffalo coins, American Silver Eagle coins, Australian Platinum Koala coins, and Canadian Palladium Maple Leaf coins, as well as trusted bullion bars and rounds.

• Industry-leading Precious Metal IRA Custodians: APMEX partners with reputable IRA custodians to provide you with exceptional service and expert assistance. Choose from preferred custodians such as The Entrust Group, Goldstar Trust, Kingdom Trust Company, STRATA Trust Company, and Equity Institutional.
• Easy-to-follow process: Opening a Precious Metals IRA with APMEX involves three simple steps – opening a custodian account, funding the account, and purchasing approved precious metal products.
• Dedicated IRA specialists: Their knowledgeable IRA specialists are always available to help you navigate the process and ensure you make the best investment decisions for your financial goals.
• Secure storage: APMEX works with preferred depositories, ensuring your precious metals are stored securely in compliance with IRS regulations.

Bullion Club: The Ultimate Rewards Program

The Bullion Club is APMEX’s exclusive rewards program designed to show their appreciation for your loyalty and trust in our investment services. As a member, you will enjoy various perks and benefits that enhance your precious metals investment experience. Membership is free, automatic, and tied to your account, so you can start enjoying the benefits without any additional paperwork.

Bullion Club Membership Tiers:

• Bullion Club Select: Complete 2-5 orders or spend or sell a total of $5,000
• Bullion Club Premier: Complete 6-9 orders or spend or sell a total of $10,000
• Bullion Club Elite: Complete 10+ orders or spend or sell a total of $20,000
• Bullion Club VIP: By invitation only

Top Bullion Club Benefits:

• Timely Notifications: Stay updated with early access to limited offers, popular new releases, and promotions with limited quantities.
• Flash Sales: Enjoy exclusive flash sales available only to Bullion Club members, providing you with the best deals on many popular products.
• Exclusive Offers: Gain access to special discounts and pre-orders available exclusively to Bullion Club members, with offers becoming more valuable at higher tiers.
• Anniversary Gifts: Celebrate your loyalty with special offers on the 1st, 3rd, 5th, 7th, and 10th anniversaries from your second purchase.

Payment Options

Speaking of payment methods, APMEX offers several options depending on your needs. You can pay with a check, wire transfer, crypto (including Bitcoin, Ethereum, Dogecoin, and others), credit card, and PayPal. Currently, check and wire payments get a 4.167% discount on the order.

Storage Options

If you’re concerned about the security of your metals investment, APMEX will store it for you in a state-of-the-art secured facility through a subsidiary (Citadel). After your purchase, APMEX will ship it to Citadel, which will route it to one of their secure locations. The storage fee is $15/month or 0.55% of the total metals value/month (whichever is greater). The cost is calculated and charged quarterly.

Shipping

APMEX provides free shipping for domestic orders above $199, while orders below this value or Citadel orders under $500 attract a $9.95 fee.

They offer a QuickShip® program, ensuring eligible orders paid by credit card, PayPal, cryptocurrency, or bank wire are shipped the next business day. This program, however, excludes international shipments, pre-sale items, and specific product categories.

APMEX operates Monday to Friday, and orders processed outside of these days or during non-business hours are managed the following business day. However, severe weather in Oklahoma City can cause delays. If APMEX fails to fulfill the QuickShip® promise, they provide a coupon for a discount on the next purchase.

User Interface and Website Experience

One of the standout features of APMEX is its user-friendly website interface. The website is designed to make it easy for users to search through their vast product offering, access educational resources, and find the latest deals. The clean layout and intuitive navigation ensure that even first-time visitors can find what they’re looking for with ease.

Large Product Offering

When you visit the APMEX website, you’ll find categories clearly organized, allowing you to browse through precious metals, coins, bars, and other products. Additionally, the search function is highly efficient, enabling users to find specific items or explore particular themes or collections.

Educational Resources

Educational resources are also readily available on the APMEX website, helping investors learn more about precious metals, market trends, and investment strategies. This wealth of information is beneficial for both beginners and experienced investors alike, making APMEX an excellent choice for those looking to expand their knowledge in precious metals investing.

Spot Price Charts

Another valuable feature on the APMEX website is the live spot price charts for gold, silver, platinum, and palladium. These charts are continuously updated, providing users with real-time pricing information. This feature is particularly helpful for investors who want to stay informed about market movements and make informed decisions about when to buy or sell their precious metals.

APMEX Performance

Since APMEX is a metals dealer, we have to look at the historical returns of the metals to determine if purchasing gold, silver, or other precious metals is a good investment. Annual returns are typically:

• Gold: 10% – 20%
• Silver: 3% – 10%
• Platinum: 4% – 10%
• Palladium: 13%

APMEX’s Trustworthiness and Customer Relations

Investing in precious metals necessitates finding a reliable dealer. APMEX has established itself as a reputable company known for its exceptional customer service and superior products.

Customer Support

APMEX prides itself on providing strong customer service to its clients. Their sales team is well-informed and capable of addressing any questions or concerns. They can guide you in making purchasing decisions and offer valuable insights on investing in precious metals.

APMEX’s customer service can be contacted via phone, offering one-on-one interaction with their representatives. Additionally, their specialists can provide assistance to those interested in creating a Gold IRA, a process that can be more intricate.

Online Reputation and Reviews

APMEX has a solid reputation in the precious metals industry. They have received commendable reviews for their high-quality goods, secure and quick delivery, and excellent customer service. APMEX’s extensive product range, which includes unique and rare items, is appreciated by many customers.

While the company has an excellent reputation, some consumers have lodged complaints about receiving lower quality coins than expected and issues with delivery dates.

On TrustLink, APMEX has a five-star rating, indicating a high level of customer satisfaction.

Better Business Bureau Rating

APMEX is accredited by the Better Business Bureau (BBB) and has received an A+ rating, the highest possible. This rating suggests that APMEX conducts its business in a trustworthy manner and effectively addresses customer complaints, although some have been reported.

Data Protection and Privacy

Security is a top priority when dealing with precious metals and online transactions. APMEX takes this seriously and has in place advanced security measures to ensure the safety of all transactions. They have an easy-to-use website that uses encryption technology to safeguard your personal and financial information.

APMEX also values customer privacy. They have a thorough privacy policy that clearly outlines how they collect, use, and protect your information. They do not sell your information to third parties and have established measures to ensure the security of your personal data.

Why Invest in Precious Metals

In a world facing the uncertainty of failing banks and the challenge of rising inflation, the choice to invest in precious metals becomes a logical one. This section will detail why precious metals, such as gold, silver, platinum, and palladium, are viewed as safe havens and a hedge against these economic instabilities.

1. Safe Haven Assets

During times of economic turbulence or financial crisis, when banks are at risk of failing, investors often turn to safe-haven assets. These are assets that maintain or increase in value when the economy is in distress. Precious metals, particularly gold and silver, are universally recognized as safe-haven assets.

In the event of a banking crisis, holding physical assets like precious metals could provide a form of wealth that is not dependent on the stability of financial institutions.

While banks may fail and currencies may devalue, gold and silver will always retain their intrinsic value due to their limited supply and wide acceptance as a store of value.

2. Hedge Against Inflation

Inflation erodes the purchasing power of money. In periods of high inflation, the cost of goods and services rises while the value of money decreases. This phenomenon poses a significant risk to cash savings and traditional investments.

Precious metals, on the other hand, have historically been seen as a robust hedge against inflation. As inflation rises, the value of gold and other precious metals typically increases. This is because, unlike paper currency, precious metals cannot be produced at will, and their supply remains largely limited.

Consequently, they retain their value over time and can provide protection against the eroding effects of inflation.

3. Diversification

Investing in precious metals also provides diversification to your investment portfolio. Diversification is a risk management strategy where a variety of investments are included in a portfolio to minimize the impact if one or more of them perform poorly.

Since precious metals often move independently or even inversely to stocks and bonds, they can help to spread risk and potentially enhance overall returns.

4. Liquidity

Precious metals are highly liquid assets, meaning they can be quickly and easily converted into cash. In case of an emergency or a need for immediate funds, you can sell your precious metals in virtually any market in the world.

5. Long-Term Store of Value

Precious metals, particularly gold and silver, have been used as a store of value for thousands of years. Unlike paper currencies, which can be devalued by governments through monetary policies, precious metals have a finite supply. This rarity combined with their practical uses in industries like electronics, jewelry, and dentistry ensures a continued demand for these metals, making them a reliable long-term store of value.

Investing in precious metals with a reputable dealer like APMEX can provide a measure of financial security in an uncertain economic landscape. However, like all investments, investing in precious metals also carries risk, and it’s essential to do your research and consider your financial situation and investment goals before making a decision.

APMEX Strengths and Weaknesses

The sheer size and scope of products that APMEX offers is their most vital selling point, coupled with the ease in which you can purchase metals – as well as the comfort of knowing that you’re buying from a reputable dealer.

It’s challenging to think of many weaknesses of APMEX.

The primary weakness that comes to mind is that the precious metals market can be volatile and unpredictable, but this is not a fault of APMEX.

Also inherent to precious metals is the fluctuation in price. So if you cancel an order, you will not be refunded the total amount if the metal’s market price has fallen between purchase and cancellation time.

This wasn’t our experience, but some reviews say that customer service can be unresponsive, so this is also something to look out for.

APMEX Review Final Thoughts

APMEX is one of the best options for buying precious metals and building an alternative investment portfolio. You don’t have to deal with shady pawn shops selling uncertified goods, and the range of pricing makes investing accessible to all levels of investors.

The range of products that APMEX offers also makes it great for newer investors who need some help – they also have a tremendous educational resource section.

Click here to get started building a physical, tangible portfolio in precious metals.