A Review of APMEX
- 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 $50 – $499.99 = $9.95, Orders $500-$4999.99 = $14.95, Orders $5,000 Plus = 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. Overall their prices tend to be just slightly higher than some of the other gold dealers. However they are definitely competitive with pricing and it is in line with industry standards.
Their shipping and insurance costs appear to be reasonable, with free shipping over $5,000 and their most expensive shipping tiers capping out at $14.95. These shipping and insurance rates are about the same, if not slightly higher than most other sites. If you are placing a smaller order (under $5,000), these shipping fees can add up over time.
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 buy back program with reasonable prices paid for coins and bullion, generally at or over spot. Their sell to us program appears to also be in line with industry standards. Overall we don’t believe that APMEX is the lowest priced dealer but they do offer a reliable service and have a solid reputation.
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. Though this is a unique concept, most reputable dealers never open mint-sealed tubes anyway and this seems to just be an extra measure to assure the highest possible quality.
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. If you plan on using a debit card, you may save some money by switching to a check payment.
APMEX BBB Review and Complaints
APMEX has been BBB accredited for over 10 years now and have maintained an A+ rating with them since. The BBB has found no government actions or class action lawsuits filed against APMEX since their time in business and they seem to use acceptable marketing tactics.
Customer Complaints Summary
Read complaint details
48 complaints closed with BBB in last 3 years | 12 closed in last 12 months
|Complaint Type||Total Closed Complaints|
|Advertising / Sales Issues||5|
|Billing / Collection Issues||12|
|Problems with Product / Service||22|
|Guarantee / Warranty Issues||0|
|Total Closed Complaints||49|
APMEX BBB Complaints
APMEX.com averages about 16 complaints per year with the Better Business Bureau. This is about the average for the gold and silver bullion retail industry. Many online gold bullion dealers will experience complaints if the market goes south and a customer is upset about it, even though this is out of the companies control. Though APMEX has had 49 complaints in the past 3 years, the BBB did find that they made a good faith effort to resolve each complaint. This shows APMEX actively seeks to resolve issues it’s customers have with their business practices.
Is APMEX a Scam?
No, given APMEX’s history and positive ratings 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. They usually make good on any situations or issues their customers may have with products or other random problems.
APMEX Customer Reviews and Complaints
The only Dealer I use
I have made APMex my sole source of purchases of gold & silver bullion over the past 3 years.
You lock in a price & have a guaranteed amour of hours to confirm payment by Bank Wire payment.
Their shipping is Fed X & I have absolutely no complaints. Well boxed, bullion has arrived earlier than anticipated each time.
All bullion has arrived in excellent condition & APMex has performed as advertised.
Trust is a major issue & I have spent as much as a quarter million dollars per transaction with no issues at any time. I can testify that APMex has earned my trust & I am a VIP member which means basically the opportunity to make specific purchases prior to advertised specials.
good product, good service great company!
Will keep buying from APMEX
I've been ordering my gold from apmex for some time now. I've never had any complaints about them and my products are always come in good condition.
Good product, good service!
Have been ordering through apmex for a few years now and haven't ever had any major complaints. products are always as they should be and their customer service is courteous.
Very personable, fast delivery.
I usually use APMEX for my online purchases of precious metals and have found them to have great customer service. They usually ship my order within a few days and their customer service staff is always courteous and very personable. I do think they could have slightly lower prices as I usually pay by credit card which is an extra 4% or something like that. Overall I would say that I would give them a 4 star rating.
The only reason I didn't give these guys a 5 star rating is because I think their prices are a little steep, but can't beat their service and shipping times.
Good Service, high prices.
I recently placed an order for 20 Silver American eagle bullion coins from apmex. I received my order in about a week which wasn't bad, but after doing some research I found that I could have saved nearly $20 by using JM Bullion.