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Is APMEX A Rip-off? Pink Flags Uncovered! (2023 Overview)

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Is APMEX A Rip-off? Pink Flags Uncovered! (2023 Overview)

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Is APMEX a Scam

Is APMEX a rip-off? It is a query that should have been working round your thoughts proper now. You should be right here for some necessary details about the corporate. Effectively, now we have all of it for you!

American Treasured Metals Alternate, most famously identified for its abbreviation APMEX, is likely one of the most well-known valuable metals sellers within the trade. Likelihood is, you got here throughout this well-known firm since you needed to spend money on valuable metals.

However, for an organization as large and widespread as APMEX, controversies and points can’t be prevented. That’s the reason, there are buyers having double ideas investing with them due to the dangers and risks concerned.

So, earlier than you resolve whether or not to speculate your cash on APMEX, you need to learn this evaluate first. Are they the proper firm for you? Can they be trusted? Is APMEX a rip-off? Come be a part of me as I inform you what this web site is all about.

American Treasured Metals Alternate Fast Abstract

Identify:  APMEX (American Treasured Metallic Alternate)

Web site: https://www.apmex.com/

Founder: Scott Thomas and David Melker

Worth: Varies relying in your funding

Really useful?: No!

Is APMEX A Scam

What’s APMEX?

American Treasured Metallic Alternate (APMEX) is a valuable metals firm that was based in 2000 by Scott Thomas and David Melker. It’s based mostly in Oklahoma the place it began out as a small enterprise with 4 workers.

Since then, it has succesfully grown into one of many largest valuable metals sellers on the planet. APMEX has bought over 130 million ounces of gold and silver to greater than 1 million prospects in over 100 international locations.

They’re one of many largest sellers of valuable metals sourced from totally different international locations. In 2017, APMEX was named “Greatest Bullion Vendor” by the American Coin Treasures Awards. In 2018, the corporate was named “Greatest Treasured Metals Vendor” by the Worldwide Treasured Metals Institute. 

APMEX affords all kinds of valuable metals merchandise, together with cash, bars, rounds, and bullion. The corporate additionally affords a wide range of providers, comparable to on-line ordering, stay chat assist, and a satisfaction assure.

If you’re on the lookout for one other respected and dependable supply to purchase valuable metals, Goldco is a good choice. The corporate has an extended historical past of success, and it affords all kinds of services and products.

APMEX Merchandise and Alternatives

APMEX is likely one of the largest valuable metals sellers on the planet, so it is no shock that they provide all kinds of merchandise. Their catalog consists of gold, silver, platinum, palladium, and uncommon collectibles, all obtainable in cash, bullions, and bars.

Gold Merchandise

The dear metals vendor has all kinds of choices relating to gold merchandise. They at present supply:

  • Gold bars and rounds
  • Gold cash, together with U.S. Mint gold cash, Royal Canadian Mint gold cash, and
  • Perth Mint gold cash
  • IRA-approved gold bars and rounds, comparable to the ten ozCredit Suisse Gold Bar, Gold Buffalo, 1 ozCanadian Maple Leaf, and 1/2 oz .9999 Gold Krugerrands

The gold merchandise additionally embrace IRA-approved bars and rounds comparable to the ten ozCredit Suisse Gold Bar, Gold Buffalo, 1 ozCanadian Maple Leaf and 1/2 oz .9999 Gold Krugerrands.

Silver Merchandise

For these concerned with silver, in addition they supply a wide range of these merchandise, their lengthy checklist embrace:

  • Silver bars and rounds
  • Silver cash, together with U.S. Mint silver cash, Royal Canadian Mint silver cash, and Perth Mint silver cash
  • IRA-approved silver merchandise, comparable to Morgan {Dollars}, Strolling Liberties, and 1 ozAmerican Eagles
  • Junk silver cash
  • Industrial silver
  • Mexican Mint silver cash

Their silver comes from number of mints, together with the U.S. Mint, the Royal Canadian Mint, and the Perth Mint. And naturally, in addition they supply IRA-approved merchandise comparable to Morgan Greenback, Strolling Liberty and 1 ozAmerican Eagle.

Platinum and Paladium

The dear metals service provider additionally affords platinum and palladium merchandise. The next are what’s obtainable:

  • Platinum bars and rounds
  • Platinum cash, together with American Eagle Platinum
  • Palladium bars and rounds
  • Palladium cash, together with American Eagle Palladium and Canadian Palladium
  • Maple Leaf Cash

APMEX additionally affords a wide range of palladium, platinum, and different metals jewellery. What’s going to excite some prospects is the provision of uncommon cash and commemorative merchandise, which not solely retain intrinsic worth, however worth as collectibles.

APMEX Branded Merchandise

Other than the dear steel merchandise indicated above, the Oklahoma Metropolis-based firm additionally has its personal branded valuable metals. And sure, they do match the entire fineness necessities to be IRA-eligible!

Amongst these merchandise are the next:

  • Gold bars (1/2 oz. to 1 kilo)
  • Silver bars (1 oz. to 100 oz.)
  • Silver rounds (1 oz. to 10 oz.)
  • Platinum spherical (Solely obtainable in 1 oz.)

Does APMEX Have Gold IRA Companies?

Sure, APMEX does supply valuable metals IRA providers, together with Gold IRA. Nonetheless, they aren’t an IRA custodian. An IRA custodian is a monetary establishment that holds and protects your IRA property. APMEX is solely a valuable metals vendor that provides IRA-eligible merchandise.

Nonetheless, they do have partnerships with a number of IRA custodians to make it simple for his or her prospects to open and handle a valuable metals IRA. These custodians are:

  • GoldStar Belief
  • Entrust Group
  • EQUITY Institutional
  • STRATA Belief Firm
  • Kingdom Belief Firm

Furthermore, IRA charges will differ relying on which IRA custodian you’d select in case you want to begin an IRA account. Subsequently, you need to evaluate charges, providers, and safety features earlier than making a choice.

However, if you would like a valuable steel firm that provides IRA providers whereas additionally being an IRA custodian, you need to try Goldco. This firm is among the many main corporations, if not the most effective, within the trade.

What’s APMEX OneGold?

APMEX has its personal digital valuable metals known as OneGold. It’s much like an ETF (exchange-traded fund), which permits shoppers to profit from valuing the gold and silver costs with out bodily holding them in stock.

APMEX OneGold is a contemporary and safe strategy to spend money on valuable metals. It’s a three way partnership between APMEX and Sprott Inc., two of the main valuable metals corporations on the planet.

APMEX IRA Price

APMEX has a $2,000 minimal buy requirement for IRAs. It is a bit excessive for an preliminary funding. There aren’t any charges related to opening an IRA with APMEX. Nonetheless, the chosen IRA custodian might impose their very own charges.

It often takes 3 months to switch funds to your APMEX IRA companion custodian. APMEX fees $110 for each IRA switch, which is a bit costly in comparison with most corporations. You may keep away from this payment in case you pay via digital test or wire switch via your financial institution.

APMEX fees $35 per valuable steel buy, which is definitely cheaper than many different comparable corporations.

Total, APMEX IRAs are a very good choice for buyers who’re on the lookout for a good and dependable vendor with a big selection of merchandise. Nonetheless, the minimal buy requirement and the IRA switch payment could also be a deterrent for some buyers.

APMEX Treasured Metals Pricing

APMEX’s costs for valuable metals are usually in step with these of different main sellers. Nonetheless, the precise value might differ relying on the particular product and market situations.

A current comparability of costs from a number of on-line sellers discovered that APMEX’s costs for gold cash and bars have been barely increased than common, whereas their costs for silver cash and bars have been barely decrease than common.

The next under is an inventory of the widespread valuable steel merchandise and its corresponding costs as of July 30, 2023:

  • 1 oz. American Gold Eagle – $2113.19
  • 1 oz. American Gold Buffalo – $2123.19
  • 1 oz. Canadian Gold Maple Leaf – $2053.19
  • 10 oz. Gold Bar APMEX (TEP) – $20481.90
  • 1 oz. American Silver Eagle – $38.56
  • 1 oz. Canadian Silver Maple Leaf – $28.56
  • 1 oz. South African Krugerrand – $29.86
  • 10 oz. Silver Bar APMEX – $275.60

Learn how to Get Began with APMEX?

The APMEX buying course of is easy and simple. Getting began with them will be performed completely on-line, nevertheless, if in case you have any questions, it’s also possible to name their customer support workforce.

To start out, you will have to create an account on the APMEX web site. After you have an account, you possibly can browse their choice of valuable metals. If you discover one thing you need to buy, you possibly can add it to your cart.

Earlier than you checkout, you will have to pick out a transport methodology and fee choice. You may pay with a bank card, debit card, financial institution wire, or PayPal. After you have confirmed your order and fee, APMEX will course of your order and ship your valuable metals to you.

APMEX Accepted Cost Strategies

APMEX accepts numerous kinds of fee choices. They even settle for cryptocurrencies like Bitcoin and Bitcoin Money as legitimate fee strategies. To simplify and summarize them, you possibly can try the desk within the picture under:

Is APMEX a Scam Payment

The place is APMEX Positioned?

APMEX is headquartered in Oklahoma Metropolis, Oklahoma. Their mailing tackle and bodily location is 1111 S. Pennsylvania Ave., Suite 100 Oklahoma Metropolis, OK 73107.

APMEX doesn’t have another bodily workplaces. Nonetheless, they’ve a community of licensed sellers situated all through america and Canada. These sellers can present in-person help with buying, promoting, and buying and selling valuable metals with APMEX.

In different phrases, if you wish to transact with APMEX in particular person, you possibly can go to one among their licensed sellers. These sellers are situated all through america and Canada, so you need to be capable to discover one close to you.

APMEX Membership Membership

APMEX has a membership program known as APMEX Membership that rewards its most loyal prospects. To affix, it is advisable make at the least two purchases totaling at the least $5,000 in valuable metals. There is no such thing as a value to hitch the membership past that preliminary funding.

The membership has 4 totally different membership tiers, every with its personal respective advantages. It’s an effective way to save cash and get extra on your cash once you purchase valuable metals from APMEX. Listed here are the perks that include every tier degree:

Choose:

  • Free transport on orders over $199.
  • 1% again in APMEX Rewards on all purchases.
  • Early entry to new merchandise and promotions.

Premiere:

  • All the advantages of the Choose tier, plus:
  • 2% again in APMEX Rewards on all purchases.
  • Unique invites to member-only occasions.

Elite:

  • All the advantages of the Choose and Premier tiers, plus:
  • 3% again in APMEX Rewards on all purchases.
  • A private account supervisor that will help you together with your valuable metals wants.

VIP:

  • All the advantages of the Choose, Premier, and Elite tiers, plus:
  • Invites to particular VIP occasions.
  • Entry to unique services and products.
Is APMEX a scam

Does APMEX Have Buyback?

Sure, APMEX does have a buyback program. You may promote your valuable metals again to APMEX for money or retailer credit score. The buyback value is predicated on the present spot value of the steel and the situation of your cash or bars.

Nonetheless, APMEX has a minimal buyback quantity of $1000. So, in case your valuable steel has not reached this quantity, you possibly can’t promote it to them.

APMEX Return Coverage

APMEX has a 7-day return coverage for merchandise bought straight from their web site. To return a product, you should contact APMEX customer support and procure a Return Authorization Quantity (RAN). You’ll then must ship the product again to APMEX at your individual expense.

APMEX will refund the complete buy value of the product, minus transport prices, inside 10 enterprise days of receiving the returned product. Take notice that merchandise which were opened from its authentic packaging, or objects which might be broken, can’t be returned.

Delivery Charges and Companies

APMEX makes use of  UPS, USPS, and FedEx. for his or her transport providers. All orders over $199 are eligible without spending a dime transport, whereas transport charges for valuable steel orders underneath $199 will differ relying in your transport choice.

  • UPS Floor: That is the most typical transport methodology for APMEX orders. Delivery instances sometimes vary from 2-5 enterprise days.
  • USPS Precedence Mail: This transport methodology is quicker than UPS Floor, however additionally it is dearer. Delivery instances sometimes vary from 1-3 enterprise days.
  • FedEx Floor: This transport methodology is much like UPS Floor, however it isn’t obtainable to all locations. Delivery instances sometimes vary from 2-5 enterprise days.
  • Worldwide Delivery: APMEX ships to over 100 international locations worldwide. Delivery prices differ relying on the vacation spot.

Storage Services and Companies

APMEX shops your valuable metals with Brink’s Safety-protected Citadel World Depository Companies. As well as, storage charges might differ relying in your portfolio worth. Nonetheless, you possibly can learn their customary storage charges under. 

Is APMEX a Scam Storage

APMEX Buyer Service

APMEX’s customer support is extensively considered glorious. They’ve a workforce of skilled and educated customer support representatives who can be found 24 hours a day, 7 days every week by telephone, electronic mail, or stay chat.

Apart from this, there are a number of different options, assets and instruments that APMEX can supply to its shoppers.

APMEX AutoInvest

APMEX affords a singular characteristic known as AutoInvest, which lets you buy valuable metals on a schedule that works for you. You may select to make purchases day by day, weekly, biweekly, month-to-month, or quarterly. AutoInvest is on the market for a lot of, however not all merchandise. To make use of AutoInvest, merely search for the “Begin AutoInvest” characteristic once you add objects to your cart.

APMEX Bullion Card

The Bullion Card is a bank card that provides rewards for purchases made at APMEX. The cardboard is issued by Visa and is the primary valuable metals rewards card available on the market.

A few of the advantages of the Bullion Card embrace:

  • 4% again in gold or silver for APMEX purchases: It is a nice strategy to earn rewards in your valuable metals purchases.
  • 1% again in gold and silver for all different purchases: It is a strong rewards price for all different purchases.
  • 15,000 bonus factors after spending $1,500 value of valuable metals: It is a useful bonus that may be redeemed for valuable metals.
  • 0% introductory APR: It is a good way to save cash on curiosity fees in case you carry a steadiness in your card.
  • 0% steadiness transfers: It is a useful characteristic if it is advisable switch debt from one other card to the Bullion Card.
  • Unique affords for cardholders: Bullion Cardholders obtain unique affords from APMEX, comparable to reductions and promotions.

The factors that you simply earn from utilizing the Bullion Card on your purchases will be redeemed for valuable metals from APMEX. It is a nice strategy to put your rewards to make use of and construct your valuable metals portfolio.

Is APMEX Secure To Purchase Gold?

Sure, APMEX is secure to purchase gold with. There is a cause why APMEX is a widely known and trusted valuable metals vendor with over 20 years of expertise. They’ve a very good repute amongst prospects and trade consultants, and so they supply a variety of services and products.

Total, APMEX is a secure and respected place to purchase gold. They’ve a very good monitor file, so that you should not be worrying about whether or not or not it’s secure. What you need to be involved with is whether or not their services and products are the most effective.

For my part, Goldco is the most effective. It’s my top-recommended valuable steel firm.

APMEX Scores and Critiques

Studying opinions from respected sources will help you assess the standard of an organization’s services and products. That is particularly necessary earlier than investing.

Here’s a abstract of how APMEX has been rated and reviewed by consultants and well-known evaluate web sites within the trade. The data is present as of July 2023.

  • BBB – 3.87 out of 5 ranking based mostly on 189 opinions, rated A+, BBB accredited since 2004
  • BCA – “D” ranking with 2 out of 5 stars (based mostly on 5 opinions)
  • Shopper Affairs – 4 out of 5 ranking based mostly on 299 opinions
  • Sitejabber – 3 out of 5 ranking based mostly on 40 opinions
  • Trustpilot – 1.9 out of 5 ranking based mostly on 7,834 opinions

If you have a look at their rankings on the floor degree, it may appear that every part is all proper with APMEX. Nonetheless, once you have a look at their opinions in Trustpilot ,the place they’ve most of their opinions, you possibly can see a number of detrimental sentiment about them.

APMEX Buyer Complaints

APMEX does have various complaints from prospects. Total, they aren’t that nice, particularly since APMEX has acquired fairly severe complaints and detrimental opinions. You’ll perceive why the query Is APMEX a rip-off exist. You may see a few of them under:

complaint 1
Complaint 2
Complaint 3

As you possibly can see, the complaints have been about APMEX’s customer support being not all the time responsive or useful. Clients even have complained in regards to the unprofessionalism they’ve skilled.

Worse, shoppers have been reporting complaints that they aren’t receiving their objects. Some acquired empty containers!

Firm Execs and Cons

  • Has all kinds of valuable metals providing
  • Pleasant and simple to navigate web site
  • Good providers, merchandise and options
  • Accepts a number of fee choices
  • Provides free transport for eligible orders
  • Has been working for a very long time.
  • Many detrimental rankings; as well as, there are a number of dangerous opinions from detrimental buyer expertise.
  • Buyer assist points
  • Obvious transport points

No, APMEX doesn’t promote faux gold and silver. Really, they’ve strict insurance policies, screening, and testing to verify all of their merchandise are real and genuine.

Nonetheless, they’ve been linked to faux gold and silver scams. In 2012, APMEX was sued by a buyer who claimed that they’d acquired counterfeit gold bars. Additionally, in 2015, APMEX was once more accused of promoting counterfeit gold bars. This time, the accusation got here from a former worker of APMEX. The worker claimed that they’d seen counterfeit gold bars being bought at APMEX.

Nonetheless, APMEX  has denied any of those allegations and was strongly towards the wrongdoings. The instances have been ultimately settled out of courtroom. The query Is APMEX a rip-off floats round, you’ll know the true reply under.

Is APMEX a Respected Firm?

Sure, APMEX is a good firm. They’re really one of many greatest and well-establish valuable metals corporations within the trade. They’re a very good choice for buyers who’re on the lookout for a secure and dependable place to purchase valuable metals.

APMEX is accredited by the London Bullion Market Affiliation (LBMA), which is a prestigious group that units excessive requirements for the dear metals trade. Though APMEX has had controversies about counterfeit gold and silver, they’ve denied all allegations and proves to solely promote real merchandise.

Higher Alternate options to APMEX

Earlier than investing in valuable metals, it’s essential to grasp the dangers concerned and conduct thorough analysis. There are a number of respected valuable metals corporations, however there are additionally some scams. 

If you wish to go over your selections for valuable steel corporations then I like to recommend you try a few of these corporations under. Here’s a comparability of APMEX with three of its main rivals Goldco, Augusta Treasured Metals, and Cash Metals Alternate. 

Is APMEX A Scam

Merchandise
Gold, platinum, silver, copper, palladium

Companies

Shopping for, promoting, storage

Delivery

Free transport on orders over $199. Delivery payment relies on orders underneath underneath $199.

Goldco-Logo

Merchandise

Gold, platinum, silver, and copper

Companies

Shopping for, promoting, storage

Delivery
Free transport for orders over $25k. Delivery payment relies on orders underneath $25k.

Augusta Logo

Merchandise
Gold, platinum, silver, uncommon cash, and palladium

Companies
Shopping for, promoting, storage

Delivery
Free transport for orders over $2500. $45 transport for orders underneath $2500.

Money-Metals Logo

Merchandise
Gold, Palladium, silver, platinum, and rhodium

Companies
Shopping for, promoting, storage, loans

Delivery
Free transport for orders over $500. $7.97 transport for orders underneath $500.

Closing Verdict: Is APMEX a Rip-off?

To reply the query, Is APMEX a rip-off? Effectively, to be truthful, APMEX just isn’t a rip-off. They’re a legit valuable steel firm that has been working for greater than 20 years. They will not be working for that lengthy in the event that they have been a rip-off. 

Nonetheless, you continue to can’t ignore the detrimental opinions left by offended prospects at them. In conclusion, that is why I can’t simply advocate this firm. For those who nonetheless need to make investments with them then I counsel you achieve this with full warning and attempt to make clear every part with their buyer assist workforce.

Nonetheless, if you wish to spend money on an organization that’s extremely rated and beloved by prospects then I like to recommend you try Goldco! You may study extra about them by clicking the button under!

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