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Have you heard many financial experts pointing to the benefits of investing in precious metals? From diversifying your portfolio, to hedging against inflation, and so much more, gold, silver, platinum, and palladium are a good investment. And, what better time than now to begin investing?
If you're ready to start diversifying your portfolio and purchasing some gold, silver, platinum, or palladium coins and bars, the first step is to find the right precious metals investment company. There are a lot of choices out there, and one that you may be considering is APMEX (American Precious Metals Exchange).
Is APMEX a trustworthy company? How long have they been in business? Do they offer a good selection of precious metals? We'll answer all of these questions and more in the article below, so keep reading to determine whether you'd like to do business with APMEX!
Important! Before we go on with this review...
Picking the right company to invest with is a huge financial decision. We understand this and we take pride in providing accurate and reliable information. We are always continuing to research and update our recommendations!
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About APMEX
APMEX was founded in 2000. In their over two decades of experience, the company has seen significant growth. What started as a small storefront business has turned into over 200 people working in an 80,000 square foot office space. APMEX has sold over 130 million ounces of precious metals during its time in business.
APMEX was founded by Scott Thomas. Thomas believes in giving back to the community, and after his childhood history of food insecurity has chosen to help the Regional Food Bank of Oklahoma. APMEX donates both money and volunteer hours to this organization.
When you work with APMEX, you can connect with one of the company's representatives to find the answer to any questions you may have. They can help you decide which coins or bars you'd like to add to your portfolio and walk you through the process of purchasing precious metals.
Gold
There is something special about owning your own gold pieces. Gold is such a rare precious metal that is highly coveted around the world. APMEX offers a wide selection of gold coins, bars, and rounds for their investors.
If you're interested in purchasing gold from APMEX, below are some of the various options you'll have:
Coins
Bars
Rounds
Silver
Silver also makes a great investment. Lately, demand for silver has been increasing as new uses are being discovered for it in manufacturing and technology. APMEX also offers many different silver coins, bars, rounds, and other products. Here are some of the options you can choose from:
Coins
Bars
Rounds
Platinum
If you'd like to purchase platinum, that is also possible with APMEX. This rare precious metal is also quite popular and likely to continue to increase in value. Below are some of the palladium items you can choose from with APMEX:
Coins
Bars
Rounds
Palladium
Palladium may also be on your radar. If you'd like to invest in palladium, this is also possible with APMEX. While many other precious metals investment companies don't offer palladium coins or bars, APMEX offers a few select pieces. You can choose from:
Precious Metals IRAs
Many of the coins and bars listed above meet the IRS requirements and can be held in an IRA. Gold coins or bars must be at least 99.5% pure, silver coins and bars must be at least 99.9% pure, and platinum and palladium coins and bars must be at least 99.95% pure.
APMEX works with different IRA custodian companies that can help you set up a new Precious Metals IRA or rollover an eligible existing retirement account. Some of the custodian companies they work with include GoldStar Trust EQUITY Institutional, New Direction IRA, and Kingdom Trust Company.
Since the fees you'll be charged will vary based on the company you choose, it can make it more challenging to determine exactly how much you'll pay. This can involve more research on your part, and you may find it easier to go with a precious metals investment company that is more upfront about what you'll pay.
Rare Coins
Investors looking to own a piece of history and purchase rare and historic coins will be impressed with what APMEX has to offer. With over 5,000 coins available, there really are a lot of options to choose from. Below are some of the rare coins you can purchase through APMEX:
Silver Dollars
Pre-1933 US Gold Coins
Other Investment Opportunities
In addition to investing in coins, bars, or rounds with APMEX, you can also purchase United States paper currency and notes, confederate currency and paper currencies from other countries. They also sell copper rounds, bars, and bullets and jewelry.
Deals
If you love saving money and finding the best deals out there, check out the sale section on APMEX's website. Just click on "Deals" on the headings across the top, and you can view the various coins and bars that are available for a discount.
Each sale item shows the original price and the amount of money you'll be saving by purchasing it. If you're interested in keeping tabs on what is listed on sale, you can sign up for APMEX's emails. This will let you monitor the sales page, and you can also receive promo codes to help you save even more.
Selling to APMEX
IF you have gold, silver, or other precious metals that you're looking to sell, you may be able to sell them to APMEX. Their website shares that they are one of the biggest buyers of bullion in the country and have purchased more than $1 billion in bullion.
If you'd like to sell metals to APMEX, they work to keep the process as simple as possible. There is an online form you can fill out to request a quote, or you can call the company directly and speak with a representative.
Once you've been provided a quote for your precious metals, you can lock in the price and prepare your item for shipping. APMEX will send you instructions to help you package your metals securely to protect them. They'll also send you a shipping label.
After your shipment arrives to APMEX, the precious metals will be verified. Upon verification, your payment will be released by the next business day. You can choose to receive your payment in the form of a check, bank wire, ACH, or trade to purchase a product through APMEX.
Are There Any Red Flags for APMEX?
Purchasing precious metals is a big purchase. You want to feel confident about the company you give your business to. One way to evaluate a company is by looking at reviews from past customers and review organizations.
Using this information can help you get an idea of how your interactions and purchases through the company will go. Below, we've compiled ratings from the Better Business Bureau, the Business Consumer Alliance, TrustLink, and Trustpilot.
Use this information and consider taking a closer look at the specific reviews individuals left about APMEX to decide if they are a good company to work with.
Is APMEX a Scam?
APMEX is a legitimate company that has been in business for 20 years. They are not a scam; however, individuals may want to reconsider doing business with them.
As we highlighted above, APMEX has a D rating from the Business Consumer Alliance. This is quite low on their scale of AAA to F, and should certainly make individuals questions whether APMEX is the right company to choose.
While the company retains an A+ rating from the BBB, there are currently over 50 complaints listed on the BBB website against APMEX. A few of these complaints focus on billing or advertising and sales, but most are split between delivery issues and problems with a product or service.
Customers have expressed dissatisfaction with the responses they received from customer service when they shared their concerns with APMEX.
Reviews from customers on Trustpilot are also pretty negative. APMEX only has 2.8 out of 5 stars here, which does not make them look very desirable to do business with.
Some reviews state that individuals received precious metals that were not in the condition promised, and these individuals were unable to return the metals for a refund. Other negative reviews state that APMEX has hidden charges that aren't disclosed on their website.
Features
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Cons:
Final Verdict
At first glance, APMEX may look like a company you want to work with to invest in precious metals. They offer a large selection of gold, silver, platinum, and palladium. However, upon closer investigation and reading through reviews from past customers, it seems like there is a lot to question about this company and the way it conducts business. We feel that you would be better off going with a different precious metals investment company over APMEX.
Although we do think that APMEX is a decent company, we believe that there are better companies out there to make your investment with.
Or you can get a free precious metals investment kit from our #1 recommended company right now!
Or, continue with APMEX...