APMEX Business Overview
Apmex was founded in 2000 by Scott Thomas, who still holds the position President, Chairman of the Board and works along side his experienced management team with over 130 combined years in the industry. Based in Oklahoma with currently 110 staff APMEX is a trusted leader in the precious metal industry.
Products And Services
APMEX deals in precious metals including Gold, Silver and Platinum. according to their online advertising they report to being buyers and sellers of bars, wafers and coins, as well as carrying US Mint bullion products such as American Eagles Gold, Silver and Platinum. They also sell Krugerrands of South Africa, and Royal Canadian Products such as Maple Leafs. Claiming they also sell gold bullion coins of most other worldwide countries.
APMEX Review 2022
People are always looking to protect their investments and diversify by acquiring various assets to overcome the possible upcoming recession. One way is to invest in precious metals, as these are a way to store assets and use them as a hedge against inflation.
Gold is the most popular precious metal for investments, as it is a low-risk asset one can invest in. Still, gold investment comes with some hurdles, unlike investing in bonds or stocks. That is why we’ve seen a significant rise in precious metals investment companies, and here we’ll take a closer look at APMEX, one of the most popular US precious metals dealers.
APMEX Company Overview
APMEX stands for American Precious Metals Exchange, one of the largest US precious metals dealers. APMEX has humble beginnings, and it began in 1999 when a grandson, Scott Thomas, was set to deal with his grandfather’s coin collection. He started selling the coins online and noted the need for a knowledgeable online coins dealer. Scott and his friends started buying and selling old coins, and within six months, they decided to start a company, and it was how APMEX was born.
They acquired the building of the former Federal Reserve Bank of Oklahoma City, which was perfect for their needs, as the building already features multiple vaults to store the APMEX inventory. Apart from buying and selling old and rare coins, APMEX has other services like IRA-approved precious metals, secure storage, and more. After reviewing the company and its services, we’ve collected the main highlights on APMEX:
- Established: 1999
- Seated: Oklahoma City, Oklahoma
- Minimum Investment: $2,000
- Annual Fees: $15 monthly fee + storage fees + withdrawal fees
- Features: Precious Metals IRAs and Cryptocurrencies, APMEX Club, OneGold, The Bullion Card
- Products: IRA-Approved Gold, Silver, Platinum, and Palladium coins and bars, Cryptocurrency Investments, Rare Coins
- BBB Rating: A+
- Special Offer: Occasional discounts and coin sales, APMEX Club
What Separates APMEX from its Competition?
APMEX started as a group of guys selling coins on eBay, but the company grew into one of the USA’s largest, most reputable precious metals dealers. They work with buyers and sellers, facilitate the purchasing or sales of precious metals, and provide different ways for investors to buy and store precious metals.
They are praised for their customer support and the excellent knowledge base they share on their website. They celebrated their 20th anniversary a few years back and have earned the #45th place in the top 500 financial institutions in the US. The company has continuously earned a Best Place to Work accolade from The Journal Record.
APMEX Services
APMEX has excellent services they provide their clients: the Autoinvest option, precious metals IRA, and other features like their APMEX club, the Bullion Card, OneGold, and the ability for investors to make purchases using cryptocurrencies.
Buying and Selling – APMEX began as a precious metals and coins dealer, and they’ve expanded their services to include a highly varied product portfolio, including coins, paper currency, and more.
Precious Metals IRA – the precious metal IRA is an excellent way to diversify your investment portfolio, and AMPEX has an excellent selection of IRA-eligible coins one can invest. Customers can open a new IRA or transfer an existing IRA to AMPEX via a custodian partner, facilitating the process.
Autoinvest – a feature that allows investors to set up recurring purchases with a set schedule.
APMEX Club – every APMEX customer that places two orders or makes a transaction of over $5,000 are automatically enrolled in the APMEX Club, getting access to special sales, exclusive offers, and a personal account manager.
OneGold – APMEX’s digital precious metal product or ETF offer allows customers to benefit from the prices of gold and silver without holding physical gold or silver.
The Bullion Card – a Visa credit card, the precious metals reward card exclusive to APMEX, and the rewards include a 4% back when purchasing precious metals from APMEX and other perks.
How to Invest with APMEX?
APMEX is primarily a precious metals dealer that works with coins, bars, and bullion, but they also offer precious metals IRAs and other services. When looking to invest with APMEX, you can create an account with them and have a sales representative guide you through the entire process of buying or selling precious metal coins or investing in a precious metals IRA through the company.
APMEX has gold, silver, platinum, and palladium coins and bars from the following mints and manufacturers:
| Mint/Manufacturer | Products |
| The US Mint | American Eagles, Buffalos, High Reliefs, Pre-1933 US Gold, First Spouses, Commemoratives, Bars |
| The Perth Mint | Lunar Series, Kangaroos, Swans, Commemoratives, Bars, Rounds |
| The Royal Mint | Britannia Series, Queen’s Beasts, Royal Tudor Beasts, Sovereigns, Commemoratives, Bars, Rounds |
| Royal Canadian Mint | Maple Leafs, Commemoratives |
| Mexican Mint | Libertadas, Vintage Pesos, Commemoratives |
| Austrian Mint | Philharmonics |
| Chinese Mint | Pandas |
| South African Mint | Krugerrands |
| PAMP Suisse | Bars |
| Valcambi | Bars, Combi-Bars, Coins, Spheres |
| Credit Suisse | Bars |
The APMEX precious metals dealer also offers a list of IRA-approved gold, silver, platinum, and palladium:
| Gold | Silver | Platinum | Palladium |
| Gold Buffalo Coins | Silver Eagle | Platinum Eagle Coins | Palladium Maple Leaf Coins |
| Gold Eagle Coins | Silver Eagle Proof Coins | Platinum Maple Leaf Coins | Palladium Bars |
| Gold Eagle Coins Proof | America the Beautiful Silver | Platinum Kangaroo | |
| Burnished Gold Eagles | Silver Koala Coins | Platinum Koala | |
| Gold Bars | Silver Bars & Rounds | Platinum Bars | |
| Gold Britannia Coins | Silver Maple Leaf | Platinum Platypus | |
| Gold Philharmonics | Silver Kookaburra Coins | ||
| Gold Maple Leafs | Silver Noah’s Ark Coins | ||
| Gold Kangaroos/Nuggets | Silver Philharmonic Coins | ||
| Gold Libertad Coins | Silver Libertad Coins |
APMEX Pros and Cons
Here are the pros and cons we found on APMEX during our extensive research and review of the company:
Pros:
- Very varied products list
- Precious metals IRAs with many IRA-eligible products
- Great selection of precious metals
- Accepting payments in cryptocurrencies
- Offers storage services
- Automatic investing options
- Excellent customer services
- A buy-back program
Cons:
- Higher fees on storage and shipping services
- High annual fees
What Do The Consumers Have To Say
The best way to find out this information is to go online where you can find some good accredited websites with lots of good information here’s just some of what we found.
Better Business Bureau
On visiting the BBB Better Business Bureau website you can see that APMEX is an accredited company and hold a A+ rating. Although APMEX have had 54 closed complaints in the last 3 years, 13 of which have been in the last 12 months. These range from issues about advertising and sales, delivery, and billing / collection. But the worrying thing is that nearly half the complaints have been to do with the products and service.
The Complaints Board
The complaints board is a consumer-based website where customers can leave comments about their experiences with a particular company. There are quite a few complaints on here about APMEX most of these refer to customer service and cancellation of orders and being charged a fee.
Not all Bad
Although what we have found a lot of negative, reviews and comments, I am sure that APMEX has their fair share of happy clients too, who would recommend their products and services.
The Bottom Line: APMEX is an Excellent Precious Metals Dealer
APMEX deserves its status as one of the top precious metals dealers in the USA. With over 20 years in business, the company offers an excellent variety of coins and bars in gold, silver, platinum, and palladium, but they also have other products and services. Their IRA-approved products are very appealing, as are their services and features honed per their client’s needs. From everything we’ve learned about the company, APMEX is an excellent option for a precious metals dealer where you can invest and diversify your IRA portfolio.