APMEX Review

 

Apmex (American Precious Metals Exchange) is one of the largest Internet-based precious metals retailers in the world. Founded in 1999, the company offers competitively priced Gold, APMEX reviewsSilver, Platinum and Palladium products full-time via their website. Apmex is based in Oklahoma City, Oklahoma and its clientele include individual investors, individual collectors, family trusts, investment advisors, investment funds and families around the globe. The company deals in precious metal assets and the related depository services, realizing more than $10 billions in transactions since its inception. Below is a detailed Apmex review that highlights everything you need to know about the precious metals retailer.

 

A Brief History of the Company

Back in 1999, Scott Thomas founded American Precious Metals Exchange and Edmond Coins in Edmond, Oklahoma. At the time, Scott Thomas was an underwriter for a mortgage firm and an avid coin collector. He would later shorten the company’s name to Apmex. Apmex launched its official website in 2004.

By 2009, the company had begun international shipping to Canada and eventually expanded to more than 80 countries worldwide. An increase in the demand for precious metals pushed Apmex to reach $1 billion in sales by 2010. The same year, the company relocated its headquarters to the former Federal Reserve Bank of Oklahoma City.

 

The Company Leadership

As the company’s founder, Scott Thomas has been its president since its inception. He is an active member of the International Precious Metals Institute and the Industry Council for Tangible Assets. He is also a recipient of the American Numismatic Association’s Presidential Award.

Kenneth Lewis is the company’s Chief Executive Officer and previous Chief Operating Officer. He has more than two decades of experience across a range of Fortune 500 technology and retail organizations.

The company’s Chief Financial Officer is Doug Sterk, who has over two decades of experience in finance and accounting. Mark Yoshimura is the firm’s SVP of Operations and has a diverse background in finance, international business development, merchandizing, and supply chain.

 

APMEX Products and Services

Apmex offers a wide range of gold, silver, platinum and palladium assets that include bars, coins, IRA eligible products, jewelry, commemorative items, and collectible coins. The company sells and buys these products online via their website. Below is a comprehensive overview of Apmex products:

 

Gold:

  • United States mint
  • Perth min
  • Royal Canadian mint
  • Mexican mint
  • The royal mint
  • Bars & rounds
  • ancient & medieval

 

Silver:

  • United States Mint
  • Royal Canadian mint
  • Mexican mint
  • Perth mint
  • Bars & rounds

 

Platinum & Palladium:

  • United States mint
  • Moscow mint
  • Royal Canadian mint
  • Bars & rounds

 

Rare Coins:

  • US Rare Coins
  • Pre-33 US gold coins
  • Historical European Coins
  • Vintage Mexican coins
  • Classic commemoratives
  • Confederate currency

 

Apmex also helps long-term investors leverage Gold and Silver IRAs by collaborating with IRA administrators and precious metals depositories. In addition, the firm has a subsidiary, Citadel Global Depository Services, which offers security for precious metals via an exclusive partnership with a reputable vaulting service provider.

 

The Apmex Website

The company avails lots of useful information, research, and educational resources to prospective investors. Apmex avails updates of the day’s trading on their website up to three times a day. They also publish a weekly recap every Friday evening.

The company has an official blog with content regarding precious metals investments, market conditions, and their current offerings. Apmex also features videos on their YouTube channel and website that help investors understand precious metals assets and markets.

 

The Purchasing Process

Apmex has simplified the purchase of precious metals through their hassle-free, secure and real-time online ordering system. All you need to do is open a free account with the website. Once you open an account, you will be able to place orders, track the orders, track the payment process, track package shipping, access past transactions and receive notifications on special offerings.

Apmex offers free shipping for all domestic orders above $99. Orders below $99 have a shipping fee of $9.95. There is no minimum or maximum orders on domestic orders. All prices are locked in once the company has issued a confirmation number. However, Apmex accepts cancelations on rare occasions, which are subject to the company’s Market Loss Policy and a cancellation fee of $35.

Apmex accepts a variety of payment options including Credit card, bank wire, PayPal, eCheck, personal checks, Bitcoin and Bitcoin Cash. The company sends an email confirmation once they have processed your payment and applied it to your order. It is worth noting that Apmex holds all forms of check payments (eCheck included) for four business days.

 

The APMEX Buy-back program

Apmex will purchase your investment when it is at a price where you seek to sell. The company claims that they buy back what they sell and pays competitive prices on each transaction. The process is fairly simple and transparent.

Throughout their website, you will see real-time uy’ prices for numerous products. You can contact the company’s purchasing agents for prices of more assets. If you want to sell to Apmex, you first call them through a number provided on their website.

The company will tell you the price they will pay and lock this price upon agreeing. Then you package and ship your bullion products or coins to the company. Apmex will inspect the shipment and release the payment.

 

APMEX Ratings on Consumer Review Sites

 

Apmex seems to have a very solid reputation as a leading online precious metals retailer. The company has a highly efficient leadership and sales team that is well versed with the various products and services offered.

Apmex holds an A+ rating from the Better Business Bureau. It is worth noting that the company has a number of complaints over the years. This is to be expected given the number of customers they have served. Apmex has a triple B rating on BCA with one complaint within the past 3 years.

Apmex is rated 5 stars on Trust Link, 4.8 stars on TrustPilot, 4.4 stars on Facebook, 4.3 stars on Google+ and 3 stars on Yelp. The company has a number of complaints on the Complaints Board and RipOff Report. The bulk of Apmex’s negative reviews are centered on delivery issues and unsatisfactory customer service, which are the areas that the company needs to improve.

 

The Takeaway

Overall, Apmex is reputable and recommendable online precious metals retailer with a large number of satisfied customers going by the reviews. The company offers an impressively broad range of products and their dedication to consumer education is commendable. Their website is highly secure, informative and very well designed. However, Apmex is not perfect and improvements in the product delivery and customer service departments would make the company even better.

 

Pros

- Wide range of gold, silver, platinum and palladium assets

- More than 20 years in business

- More than 7,000 positive reviews on Trustpilot

Cons

- A few complaints about product delivery and the customer service

 

 

 

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This review was updated on Wednesday, October 1, 2019

 

  • Editor Rating

  • Rated 2.5 stars
  • 50%

  • APMEX
  • Reviewed by:
  • Published on:
  • Last modified: July 21, 2019


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