Are you interested in getting gold and silver from APMEX this summer? Well, if you are, then you definitely want to read this review as I am going to share with you everything about APMEX, the good and also the bad.
In this review, we will be discussing APMEX. Who are they and how can they help YOU? Is APMEX a scam? Or a legitimate company?
I shall reveal the answers to these questions in this review!
Grab a cup of coffee and read with me!
APMEX Review Quick Summary
Below I have put together a quick video review of APMEX for you.
If you don't feel like reading just play this video as I go over everything and all the important info about APMEX mentioned in this article.
If you have watched this video, I'm really curious, what do you think about APMEX, would you invest with them?
Be sure to drop a comment under this article you will definitely help other investors make a better choice!
In the meantime, be sure to check out our top recommended gold company that we believe it could be a very good alternative to APMEX!
What is APMEX?
APMEX, also known as American Precious Metal Exchange, is an Oklahoma-based precious metals dealer. It was founded by Scott Thomas back in 2000.
They seem to take pride in being one of the largest dealers of various precious metals from different countries which include South Africa’s Krugerrands and Royal Canadian Maple Leafs.
APMEX Products and Services
Apart from these, APMEX also offers rare coins and collectibles. You can check out the complete product catalog with prices on its website.
Apart from selling precious metals, APMEX also buys from its clients.
Does it offer IRA services?
Unfortunately, APMEX does not provide any IRA services since it is not an IRA custodian. It only offers IRA-approved precious metals. However, APMEX is partnered up with several IRA custodians to cater to its clients' IRA needs. Here they are:
- GoldStar Trust
- Self Directed IRA
- Entrust Group
- EQUITY Institutional
- New Direction IRA
- Kingdom Trust Company
IRA fees vary depending on which IRA custodian you would choose if you wish to start an IRA account.
Does APMEX offer storage services?
If you want to store your precious metals through APMEX, the company will have it done by its storage partner, Brink’s Security-protected Citadel Global Depository Services.
Gold IRA storage fees vary depending on your account. However, below, you can see the non-IRA standard storage fees.
How to get started?
Buying from APMEX is actually pretty straightforward. You can give them a call and discuss your transaction. Or you can do it online, thanks to its e-commerce platform.
You need to create an account and sign in. Afterward, you can scroll through its product catalog to see which precious metal you want to purchase. Then you can confirm your order and pay for it.
You can have it delivered to your house or have it stored in its storage facility. All orders above $99 receive free shipping, while the ones below are charged with a $9.95 shipping fee. You can check more information here on buying precious metals from APMEX.
Ratings and Reviews (Updated August 2022)
August 2022 Update:
As of 8/30/2022, these are the ratings of APMEX from different websites. Overall, they are not that great, especially since APMEX has received quite a few complaints and negative reviews. You can see some of them below:
- BCA - 2 out of 5 rating with "D" rating (based on 3 5 reviews)
- Offers a wide variety of precious metals
- Online shopping and website reveals the prices and fees
- Has been around for a long time
- Free shipping for orders above $99
- Not the greatest ratings
- Has quite a few complaints and negative reviews in the last couple months
- Apparent shipping issues
- Unsatisfactory customer service/support, according to some customers.
Is APMEX a scam? Final Verdict
I wouldn't say that APMEX is a scam - it has been around for quite a while. Moreover, it does offer legit precious metals. It also has its share of positive reviews.
It is pretty normal to have negative reviews, especially for companies. However, APMEX has quite a few of them, which is very alarming. These red flags should serve as a warning for you.
Will you insist on dealing with APMEX? Or will you check out other precious metals out there? That is entirely up to you. However, I do not recommend it since we are talking about precious metals. It is very important to be careful with our dealings.
You can check out my top recommended precious metals company below. Thank you so much for reading my "Is APMEX A Scam?" review! If you have any comments or questions, feel free to leave them in the comments section!