- Website: www.APMEX.com
- Location : Oklahoma City, OK
- Business Established : February 2000
- BBB Accredited : Yes
- BBB Rating : A+
- Metals Offered : Gold, Silver, Platinum, Palladium
- Brands Offered : United States Mint, Royal Canadian Mint, Perth Mint, Austrian Mint, Engelhard, Johnson Matthey, PAMP Suisse, Credit Suisse, Rand, Sunshine Mint, Argor-heraues, Umicore, Geiger Edelmetalle, APMEX, Scotia Mocatta, Holy Land Mint of Israel, Pre-1933 US Gold.
- Shipping Charges : Orders $0 – $99.99 = $9.95, Orders $100+ = Free
An in Depth APMEX Review
APMEX (short for “American Precious Metals Exchange”) has been around since 2000 and is located in Oklahoma City, OK. APMEX is one of the most well known online gold and silver dealers that carries a large selection of gold, silver, platinum and palladium bullion products as well as paper currency and graded coins. They are Incorporated in the state of Oklahoma and have been BBB Accredited since 2004. Currently they have an A+ rating.
APMEX Pricing and Shipping Rates
As one of the largest online dealers, APMEX has a massive and somewhat overwhelming selection of precious metal products. By looking over their website we noticed that their prices tended to be just slightly higher than some other gold dealers. However most of their prices appear very competitive and what they lack in pricing they seem to make up for in other areas like customer service.
Their shipping and insurance costs appear to be reasonable, and they just launched a free shipping promotion where orders over $100 ship for free and their most expensive shipping tiers cap out at $9.95 for orders of $0-$99.99. With the launch of their free shipping promotion, their shipping and insurance rates are better than most other dealers at the moment.
APMEX IRA Program Review
APMEX offers a Precious Metal IRA program with seven custodians to choose from and secure storage available through Citadel (a wholly owned subsidiary of APMEX). They also sell a wide variety of IRA eligible gold and silver bullion on their website for those interested in diversifying their retirement funds.
APMEX Customer Service Review
APMEX’s customer service staff seems to be very courteous and personable and have maintained a good track record. From our research we believe that their customer service staff doesn’t work off of commission and there appears to be no hidden fees added on to orders (except for shipping). APMEX ‘s customer service staff is available via their Live Chat feature or toll free at 800-375-9006.
APMEX Sell to Us Program
Currently APMEX has a “sell to us” program where they will buy back coins and bullion from customers at fair prices which are generally at or over spot price. Compared to other dealers, the prices offered through their sell to us program appear to be very reasonable.
APMEX Mint Direct Program
One of the unique features that APMEX offers is their Mint Direct program which is patent pending. This program features mainly bullion coins such as American Silver Eagles, Canadian Silver Maple Leafs and other popular world coins which come packaged in tubes. The Mint Direct process just means that APMEX is guaranteeing the products have never been opened and are sealed directly from their respective mint. This seems to be an extra measure to assure that they are offering the highest quality products possible.
Method of Payments Accepted By APMEX
On APMEX’s website they accept payment in the form of paper check, credit/debit card and bank wire transfer. There are certain incentives and drawbacks of each payment option so below we will go into detail on the minimum order value and maximum order size for each payment.
- Paper Check Payment – When paying by Paper Check there is no order minimum but there is a maximum of $10,000. Paper checks are defined as a personal check, cashiers check, money order or certified check. By choosing this method you will save about 4% compared to the credit card option.
- Bank Wire Transfer – Bank wire transfers are suggested to be used as payment for orders over $2,500 and have no maximum order size, however if you are placing a significantly large order they recommend you place it over the phone. The bank wire method can save you around 4% over the credit card price as well.
- Credit Card Payment – When paying for your order using a credit or debit card there is a $50 minimum and a $2,500 maximum. Keep in mind that if you choose this method of payment, you will be paying around 4% higher than a paper check or bank wire price.
APMEX BBB Review
APMEX BBB Complaints
APMEX.com averages about 12 complaints per year with the Better Business Bureau. This is about average if not below average for the gold and silver bullion retail industry. Many online gold bullion dealers will experience complaints for reasons that are out of the company’s control. We always recommend doing your own research before buying however to come to your own conclusion.
Though APMEX has had 46 complaints in the past 3 years, the BBB did find that they made a good faith effort to resolve each complaint. To us, this shows APMEX actively seeks to resolve issues it’s customers have with their products or services.
Is APMEX a Scam?
No, given APMEX’s history and positive ratings from customers over the past 10 years we believe APMEX is most definitely not a scam. They have had enough positive reviews and satisfied customers to prove they are committed to providing exceptional service and quality products while making good on any issues their customers do have with their products or other random problems.