226 Dean A. McGee Ave
Oklahoma City, OK 73102
In this APMEX review, we take a look at the business, its offerings, what we liked, what we did not like and whether we would or would not use it to invest in gold or a gold-backed IRA.
#1 Ranked in 2023
- Fees Waived with Minimum IRA
- Get 10% Back in FREE Silver
Who is APMEX?
Also known as American Precious Metals Exchange, APMEX Inc. is physically headquartered in Oklahoma. It is a corporation that was established in January 2000.
The company offers potential and existing investors a massive range of precious metals that they can buy at competitive rates. Aside from bullion products, APMEX also provides pre-1933 coins, international currencies and commemoratives.
What Does APMEX Offer?
There are several products that the company sells such as platinum, gold and silver. These are all sold online in their website.
In addition to these products, the company also carries Mint bullion products in the United States including platinum, silver and gold American Eagles, Royal Canadian mint, South Africa’s Krugerrands and Maple Leafs.
Things To Like About APMEX
1. Professional Sales Representatives
The company’s sales team is highly efficient and knowledgeable about the different products and services offered. Those who wish to invest in APMEX can inquire from the staff members and receive valuable pieces of information regarding their special concerns.
2. Excellent Rating
Based on various reputable sources including the BBB, BCA and TrustLink, APMEX has a notable rating. In fact, the company was rated A+ at BBB, AAA at BCA, and 5 stars at TrustLink. However, it is worth noting that there are some complaints from customers aside from positive feedback.
3. Numerous Payment Options
Customers can choose from various payment options offered by APMEX such as bank wires, cashier’s checks, personal checks, money orders, credit cards, and certified checks. However, it is best to pay via bank wire for amount over $2,500.
Keep in mind, though, that in the U.S, there is a minimum order fee of $50 set for each transaction. Orders coming from Canada are at a minimum of $250 while for Europe and Australia, the minimum fee is $1,500.
Things NOT To Like About APMEX
1. Customer Complaints
Although the APMEX reviews have been good from some investors there are several dissatisfied customers who complain about the second-rate coins delivered to them.
They believe that what they received does not offer the best value for their money, which means it helps to investigate further before choosing this company for your investments.
2. Delivery Issues
There are a number of complaints about the company when it comes to failure or defaults on delivery. This is a serious concern since it is only right that you receive the merchandise you have ordered in a timely manner
The fact that some people do not receive such quality of service can be unsettling for those who are current clients or potential investors in the company.
3. Unsatisfactory Customer Service
Shipping is one of the issues linked with APMEX. Thus, those who are not satisfied with the late delivery tend to complain and contact the customer service department for their concerns.
Unfortunately, they were only even more disappointed because of the late response to their problems, which added to their anxieties and stress.
APMEX – IRA Fees
|Initial Setup Fees||$50|
|Annual Admin Fees||$75|
|Annual Storage Fees||$100+ (Scaled Rate)|
|Minimum Purchase Amount||$2,000|
|Preferred Depository||Delaware Depository|
Rankings, Complaints and Customer Reviews
Before you begin investing on a particular company, it will help a great deal to determine its performance and standing on various reputable groups in the industry.
Below, you can find the current rating given by reliable groups after considering customer feedback and complaints filed against APMEX.
Better Business Bureau (BBB)
The company has a BBB rating of A, although there were 39 complaints filed in the last 3 years. Since April 29, 2004, APMEX has been a BBB-accredited business after meeting its accreditation standards (read more).
However, an accreditation does not necessarily mean that the BBB endorses the company. With this in mind, it is still important to check the company’s profile when deciding whether to invest in it or not.
Business Consumer Alliance (BCA)
APMEX has a BCA rating of AAA. In spite of this notable rating, it is important to note that the lack of sufficient information about the company in terms of customer ratings can be unsettling (read more).
|Based on 1 review|
An impressive 5 stars was given to APMEX, although this rating was only based on one review, which is not enough information to help potential investors make an informed decision.
The review was good, and it expressed the customer’s positive experience in terms of timely delivery of the product and responsiveness of the staff members.
According to Ripoff Report there have been several complaints filed against APMEX.
One of the complaints received is from a client stating his negative experience dealing with the company. The client was not pleased at the unresponsiveness of the staff members, particularly at a crucial moment when he needed their immediate attention.
Customer service was poor, and the client was very much concerned about the supposed “concealing of the truth” that the company did to him. He was looking to cancel an order, yet APMEX staff failed to send a response to his request.
This is a negative situation that no investor should encounter while making any financial transactions with a company, since time and valuable resources are at stake.
APMEX Review – Final Thoughts
While several people liked the company’s products and services including their payment options, high authority ratings and SSL-encryption standard on their website, there are still a number of reasons why it may be better to look further for an investment company.
Some reasons why numerous investors prefer not to choose this company include the following:
1. Delays and defaults in delivery
2. Unsatisfactory quality of products
3. Long waiting period when contacting a customer service representative
4. Several complaints in the BBB
Unfortunately, these are not exactly the strongest points of APMEX. Thus, it may be a more practical option to consider an investment company that has a more solid and dependable reputation from all of its clients.
Its important to understand that your time and money are on the line when you start an investment, so it is only right that you research and fully evaluate a company’s performance and services before you make a final decision.
- Fees Waived with Minimum IRA
- Get 10% Back in FREE Silver
- Editor Rating
- Rated 3 stars
- Reviewed by:
- Published on:
- Last modified:
- QualityEditor: 70%
- PricingEditor: 60%
- ShippingEditor: 80%
- SupportEditor: 85%
I’ve been a financial retirement planner for over 30 years and have been investing in gold, silver and other alternative investments since 2008. When I’m not spending time with my wife and 3 beautiful children, I am learning more about new emerging technologies such as the blockchain.
FJ Knab says
APMEX lost my business when they froze my account for “non-payment” when the bank verified the funds were sent. They sent poor quality coins in BU rolls and acted like the coins were all “inspected.” They lost a good customer who spent a decent amount every year since 1980. Nice strategy. But they don’t care. There are other customers to fleece every day.
T Bradley says
100% correct in non responsive APMEX sales people, delays and me having to pay their screw ups. They lost me and anyone else looking to deal with a dealer…..
tim green says
I’m doing a date run of flag 1st strike. They sent me a st gaudens label. Told me as long as it’s 1st strike they fulfilled the order.
Very poor customer service
DC Wornock says
Until recently APMEX was outstanding. Over the last 13 years, I have ordered from APMEX over $200,000 in gold and platinum that I store in my safety deposit box. And, I recommended them to several people. During these 13 years, they have grown from a small company to one of the largest.
However, APMEX has now become a criminal organization because they will first take your money and after your check has cleared your bank, they will then find issues in your order. Especially, like in my case where the market value of my order increased by almost $1,000. They refused to fill my order until after I resolved some issues and they intended to cancel my order and resell at the much higher current market price if I didn’t respond to an email within 48 hours. As a long-term customer, APMEX had zero reasons to find any issues and I was able to resolve the issues and they shipped my order. However, I was certainly worried for a couple of days. Their intent was to cancel my order since the price had increased. I believe there would have been no issues if there had been a price drop.
If APMEX has any reasons for issues, they should post it on their website or otherwise notify you and give you the opportunity to resolve the issues before they accept your order. Certainly, APMEX shouldn’t wait until after your check has cleared and they have your money to find issues. Their so-called justification is that some people will use an alias to place an order and APMEX will use that as an attempt to cancel the order if there is a significant increase in the market price or perhaps even to keep your money. Regardless, whether their issues are the use of an alias and/or some other reason, the customer should be given an opportunity to resolve the issues before making payment. Otherwise, if they receive payment, they should fill the order.
I don’t recommend APMEX unless you first call and talk to them to make sure they will have no issues. Instead, I recommend “Only Gold” or “JM Bullion.” Both companies sell gold, silver, platinum, etc. and have very good prices.
Alex Pushkin says
I requested a quote from Apmex about two palladium bars and a Mexican 50 peso gold coin and the following is what I received as a response.
Qty: 1, Product ID: 11141, Description: 1 oz Palladium Bar – Credit Suisse (in Assay), Metal: Palladium, Metal Content: 1, Spot Price: $2369.40, Buy Price: $2169.40, Ext Price: $2169.40
Qty: 1, Product ID: 11140, Description: 1 oz Palladium Bar – RAMP Suisse (in Assay), Metal: Palladium, Metal Content: 1, Spot Price: $2369.40, Buy Price: $2169.40, Ext Price: $2169.40
Spot price was actually lower than what was reported by the market at the time, but even with that Apmex buy back price was 8.44% lower than the spot price.
I had a big problem with them too… Missing coins, didnt refund… Ordered at a low price, then they made me cancel order for technical problem costing me $5K in profits… NEVER AGAIN
Nathan A Bemoll says
IVE made about $6000.00 in silver purchase. Two purchases were over $1500.00 to avoid CA sales tax. Never had a problem. I did hit by mistake to send a check and I men’t to hit the E Check button. I sent an e mail to cancel the order and there was no problem. Then I did the E check right away. No problem from apmex to waive the order. Just don’t make it a habit to check the wrong box. If you do pay by E Check it can take 2 weeks. Credit card orders ship out very fast. I happy with apmex.
Peggy Frankland says
I ordered a gold coin bezel after giving the information to the sales person and she told me what size to order. I ordered it on the 10th and didn’t get it until the 17th. All jewelry stores have been closed in the area until yesterday so I took it to the jeweler and he said bezel was too small. I called company anticipating that I could return and POSSIBLY and get the right size. I was told I had only had five days to exchange or get a refund. I am not stuck with a bezel that won’t fit anything I own. Terrible company and I would not recommend doing business with them. I intend to turn them over to the BBB also.
ARTHUR L MANTZ says
I recently purchased 2 Kennedy half dollars 1982 P and 1983 P, I thought BU meant Brilliant Uncirculated, how ever the 1983 P was really scuffed up felt and looked terrible, probably should have sent back? so I sanded. just an unhappy customer will never buy here again.
Sanjay Sharma says
I purchased 11 coins together from APMEX. I only received 10 of the coins. One of the coins, worth ~$250, was missing. I contacted customer service within 24hrs of receiving the shipment and informed them of the missing coin. They stated that, from their end, the shipment was complete. They refused to refund the money or give store credit.
I would definitely not order anything valuable from them. They are not reliable.
Think twice before getting from them. They sent our order in the opposite direction. Then said it was back to the facility? Could it be because gold went up? Now your offering our money back. Oh but not at the new rate. Scammers
No other word!
Jason Rodgers says
Here it goes….July 2nd ordered 500oz for 10,700.00 for a group of friends that work days and I’m home so delivery would be easy to sign for…paid with direct bank transfer. Money out of my account July 6th. Email on 12th says my order is processed and will be shipped, next evening I get label processed and orgin scan at 9pm. Seems fishy because apmex closes at 8pm but ok they stayed an hour later for my package right? Day after day goes by and by the 5th day its still doing nothing different at all so I call apmex and they say that sometimes UPS has delays but my brother has worked at UPS for 26 years so I knew better. I told them I need this resolved because I’m just the recipient for 6 peoples order and need the order or the money back before friendships get tested and they assure they’ll start claim after 7 days which puts it at the 20th now. Yes 18 days after ordering which has already got me about 10 calls to come get their bars with me explaining the mishap but reassuring them the 20th ill have a claim done and either the product or the money back. 20th comes and now they notify UPS and initiate a claim which 24 days later is still “under investigation ” with no updates whatsoever. I have 6 people wanting their money back and worst of all the price is now 17000.00 for the same order and I’m getting fucked around while 3 of the people are explaining what happened to mutual friends and I’m now the guy that took the money and bought silver but dicked around while it skyrocketed and must’ve made myself a quick 5000 off my friends. Its indirectly assumed especially since these are longtime customers I mentioned this to in the group. Total disaster and now today they no longer have the silver bison bars available and will submit a claim with their insurance company and explain to me its usually a 4-6 week process from initial claim? So I have to wait 2 months to get back enough money to give back so they can buy half the amount of silver they already paid for and I literally lost valuable friendships for trying to help by ordering and receiving a package…I’m so disgusted with the cavalier attitude as if they did their job and it’s not their problem but apparently this is a reoccurring scam on larger orders and instead of switching to a different shipping provider they continue to manipulate people for months?
Wow. Thanks for the info. I will never use them.
Strongly recommend you never use this company. Run the other way. Very rude unprofessional and dishonest sales people. They seem to prey on people that have not dealt with precious metals much. STRONGLY ADVISE DO NOT USE APMEX.
Mark Martin says
I have made several orders with them with no issue. One order they had a mix up with stock and contacted me about it. They issued me a refund without me having to ask and recredited my account within 5days of notice, plus gave a 10dollar credit as an apology. So far, I have been pleased with their service.
have been dealing with them for years==never a problem–some delay in getting product but they are good in letting me know why he delay==Have also used jmbullion–Bullion better in pricing at times but better to compare b4 ordering
Joe Wes says
I returned an order of (20) 2021 American silver eagle (type 2) MS70 PCGS (FirstStrike) for poor quality. APMEX returned to me 20 coins of the same bad quality. When I inspected them, there wasn’t any crisp sharp features.
I compared them to my previous order of (40) 2021 American silver eagle MS70 PCGS (FirstStrike) type 1. These coins were of very good quality.
When I compared the type 2 coins to the type 1 coins I noticed right away that her sandals were smooth and rubbed out. The stars are barely visible. There are pin sized specks of bright silver on her neck.
I tried to return the coins that were returned to me. This time I wanted a refund. They told me that don’t give refunds for returns. What? They have a policy for that? They would not send me another return label. I’ve logged a complaint with the BBB. In the meantime I’m stuck with 20 over priced pieces of crap.
I want online coin buyers to know what APMEX is all about before buying any silver or gold from them.
If I could prevent 1 person from purchasing from APMEX then I’ve done my due diligence. There are many more online coin brokers to choose from. I’ve used 3; Apmex being the 3rd. The other 2 companies have always sent quality products.
Since 2006, I have purchased over $200K of various bullion coins, everything from Buffalos, eagles, maple leafs, Britannias, Morgan’s up to ms67, PCGS and ANA graded bullion.. You name it, I have probably bought it from APMEX. Knock on wood, the only issue I ever had was a Denali ATB 5oz silver round that arrived with a cracked plastic coinholder, the coin was undamaged. After a 10 minute phonecall, they emailed me a prepaid UPS shipping label for the coin & damaged holder. After about 6 days I think it was, I received a new replacement .
I always use e-check, as it saves me the %4 credit card surcharge, it just takes a little longer to receive my items. Sometimes the shipping is slow, especially with USPS and that gang of “efficient” employees (rofl). APMEXs’ shipping boxes are damn near indestructible. I sure hate to read about others misery, but I sure can’t bash them.