APMEX Reviews

What is APMEX?

Apmex is one of the largest online bullion dealers in the US. With a presence in the industry since 2000, they offer an extensive range of over 20,000 products, encompassing gold, silver, platinum, and palladium metals.

Their main office is situated at 226 Dean A. McGee Ave., Oklahoma City, OK 73102.

The company has experienced significant growth since its establishment and has garnered a significant number of reviews on various consumer platforms.

They offer a wide range of products, including IRA-eligible coins, numismatic coins, and semi-numismatic products.

Apmex has formed partnerships with 5 custodians, giving you the flexibility to select the one that best meets your financial needs.

In addition, the company has included a range of complimentary resources on its website, such as investment guides and articles, to assist new investors in expanding their knowledge on precious metals.

People Behind APMEX:

Scott Thomas (Owner):

Scott Thomas is the founder and president of Apmex. He established the company in 2000 and has been at the helm ever since. Scott developed successful marketing strategies that significantly contributed to the firm’s growth.

In 2009, he was honored with the prestigious Presidential Award by the American Numismatic Association. It is highly regarded as one of the most prestigious awards in the industry.

Kenneth Lewis (CEO)

Kenneth Lewis serves as the Chief Executive Officer of Apmex. He boasts an impressive track record of over 20 years of leadership experience in retail and tech firms. Several of the companies he led are among the top-ranking Fortune 500 companies.

He joined Apmex in 2011 as EVP of Operations and served 2 years as Chief Operating Officer before assuming the role of CEO in 2015.

Kenneth’s shrewd and calculated decisions have greatly bolstered the company’s expansion.

How to Open a Gold IRA with APMEX:

Apmex provides a wide range of precious metals for investors. Therefore, it is important to exercise great caution when buying with this company if you are interested in establishing a gold IRA.

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  • First, you should visit their website and contact one of their representatives. They can help you choose a custodian from their 5 partners. Selecting the appropriate custodian is crucial as it will significantly impact your setup and maintenance expenses.

• • After selecting a custodian, you’ll need to complete the required paperwork and submit your IRA application. This process will be completed quickly. Once the paperwork is submitted and approved, you’ll have a brand new self-directed IRA.

• • Now that you have an Apmex IRA, you’ll need to contribute funds to it. You have the option to fund it directly or transfer funds from an existing IRA.

• • Once you’ve successfully funded your Apmex IRA, you’ll have access to a wide range of precious metals to choose from in their extensive product selection. Remember to only purchase IRA approved products to avoid potential penalties.

APMEX Products:

Apmex boasts an extensive selection of precious metals products. They have a wide range of gold, silver, platinum, and palladium products available, including IRA-eligible, numismatic, and semi-numismatic coins.

The company offers comprehensive pricing information for every product, allowing you to estimate your potential expenses.

Their collections boast a wide array of rare and collectible coins that are truly unique.

Gold IRA Products:

Here are some of the noteworthy coins in the collection:

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  • American Gold Eagle

• • Canadian Gold Maple Leaf

• • Australian Gold Kangaroo

• • Gold Britannia from Great Britain

• • Austria Gold Philharmonic

• • American Gold Eagle

In their collection, you’ll discover a wide range of gold bars, including options from PAMP Suisse, Credit Suisse, and other reputable brands.

Silver IRA Products:

APMEX offers a wide selection of silver products.

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  • American Eagle Silver Coin

• • Canadian Silver Maple Leaf

• • Proof American Eagle Silver Coin

• • Austrian Philharmonic Silver Coin

• • Australian Silver Kookaburra

• • Armenia Silver 500 Drams Noah’s Ark

Platinum IRA Products:

They have a range of impressive products in their catalog:

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  • The American Platinum Eagle

• • 1 oz Platinum Bar from Valcambi

• • Canadian Platinum Maple Leaf

• • Australian Platinum Platypus

• • 1 oz Platinum Bar from Credit Suisse

Palladium IRA Products:

Their catalog also offers a wide range of palladium products for you to choose from.

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  • Canadian Palladium Maple Leaf

• • 1 oz Palladium Bar from PAMP Suisse

• • APMEX coins

• • PAMP bar

And many others.

Their product is undeniably impressive, although it is worth noting that several items were not available at the time of writing this Apmex review.

Other Investment Products:

The bullion dealer has an impressive collection of IRA-approved products, but their non-IRA section is where they truly excel.

Some prominent examples include Pre-1933 US Gold Coins, Silver Dollars from 1794 to 1978, Peace Silver Dollars from 1921 to 1935, and much more.

In addition, they offer an Elite Picks section where they showcase the finest rare coins in their collection.

In their selection, you’ll also come across licensed coins and coins based on movies.

APMEX Fees:

Apmex states that they do not impose any extra fees on the spot prices displayed on their website.

On the other hand, if you choose to make your payment via check or wire transfer, you will be eligible for a 4% discount. Unfortunately, this discount offer cannot be used with PayPal, BitPay, or credit cards.

In addition to these transaction fees, the cost of your IRA will vary depending on the custodian you select. You have the option to choose from 5 different custodians offered by Apmex:

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  • Equity Institutional

• • GoldStar Trust Company

• • Kingdom Trust Company

• • The Entrust Group

• • STRATA Trust Company

In addition, the fees for Apmex would vary based on the size of your investment.

The minimum storage fee for your precious metals IRA starts at $15, with a storage rate of 0.55%.

There is no specified minimum investment requirement mentioned on the Apmex website.

Unique Highlights of APMEX:

In addition to its extensive catalog of over 40,000 products and more than 20 years of experience, Apmex possesses several distinguishing qualities that separate it from its competitors. Here’s a quick rundown of those characteristics:

Multiple IRA Custodians:

Apmex has formed partnerships with five different custodians to provide IRA custodial services. These companies include Kingdom Trust Company, GoldStar Trust, The Entrust Group, Equity Institutional, and STRATA Trust Company.

All of them are well-known and widely recognized custodial service providers. According to the IRS rules, it is necessary to have a custodian for your precious metals IRA.

Having the option to choose from multiple custodians can be quite beneficial.

It’s important to note that the amount of fees you pay will vary depending on the custodian you select.

Different Storage Facilities:

Apmex has a partnership with Citadel Global Depository Services for storage vaults. At Citadel, we provide top-notch secure storage services, complemented by additional offerings like independent audits and reporting.

Brink’s Global Services, a highly esteemed storage provider in the industry, is responsible for securely storing Citadel’s products.

Here, the only available option is segregated storage, which comes at a slightly higher cost compared to non-segregated storage.

All the products you store with them are insured.

It is intriguing that the company offers you real-time reporting of all transactions and displays the current value of your stored metals. This knowledge could prove to be quite valuable.

APMEX AutoInvest:

The AutoInvest program is a valuable tool for automating your precious metals investments. With the program, you have the option to establish regular purchases of your preferred precious metals products.

By incorporating this method, you can effortlessly enhance your portfolio with additional precious metals. This exclusive service is unique to them and cannot be found with any other bullion dealer.

Being able to buy various precious metal products over time automatically is definitely appealing. Unfortunately, the AutoInvest program does not apply to every product. Only a select few products meet the criteria for this scheme.

APMEX Club:

The Apmex Club is a loyalty program that offers rewards to customers who purchase precious metals from this company.

Club members receive exclusive offers and discounts. In addition, they receive exclusive notifications about the latest promotions and offers ahead of other customers.

There are four different membership levels available:

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  • Complete 2-5 orders or spend/sell at least $5,000 in total.

• • As a Premier member, you’ll have the opportunity to complete 6-9 orders and spend or sell at least $10,000 in total.

• • Highly accomplished (Complete 10+ orders / Spend or sell at least $20,000 in total)

• • Exclusive access (Invitation only)

APMEX App:

If you’re interested in purchasing precious metals while on the move, you can also utilize their mobile device. With the Apmex app, you can easily browse through their extensive product collection and stay informed about their latest offers.
It can be found on both Google Play Store and the App Store. The app has gained significant popularity, evident from its impressive 18,000 reviews on the App Store.

APMEX Reviews and Ratings on Other Platforms:

As a prominent player in the industry, Apmex has garnered numerous reviews on various consumer platforms. However, what I discovered was slightly concerning. The company has received a range of feedback from its clients.

Although some customers appreciate the company’s extensive selection and knowledgeable staff, others have encountered issues with deliveries and additional fees.

Here is a more detailed breakdown of Apmex reviews, focusing on specific aspects of the platform:

Better Business Bureau (BBB):

This precious metals dealer has received an A rating on BBB. The company has received an average customer rating of 3.98 out of 5 stars on that platform.

In addition, the company has resolved a total of 106 complaints on BBB over the past 3 years, with 50 of them being resolved within the last year.

Trustpilot:

Trustpilot has an impressive number of over 7,700 Apmex reviews. According to these reviews, the company has received a rating of 2.2 out of 5 stars.

Despite the overwhelming majority of 5-star reviews, the platform’s average rating has been negatively impacted by a recent influx of negative feedback.

ShopperApproved:

In addition to BBB and Trustpilot, there are numerous other platforms where you can discover Apmex reviews. As an investment banker, it’s worth noting that ShopperApproved boasts an impressive 170,000 reviews for this company, resulting in an outstanding overall rating of 4.9 out of 5 stars.

APMEX Review: Conclusion

Apmex is a reputable company with a wealth of industry experience spanning over two decades. The company is a top player in the industry and takes pride in its extensive product catalog, which features over 40,000 products.

They offer a wide range of gold, silver, platinum, and palladium products to their customers. Their collection includes a variety of IRA-approved, numismatic, licensed, and semi-numismatic coins and bars.

In addition, the company offers a Knowledge Center that provides customers with valuable investment guides and articles to assist them in getting started with precious metals investing.

They have formed partnerships with 5 custodians to offer clients a range of custodian options. In addition, they provide up-to-date reporting on storage and have established partnerships with FedEx and UPS to conveniently deliver your valuable metals to your doorstep.

Apmex offers a convenient app for customers who are interested in purchasing precious metals or staying updated on their latest offers and deals.

APMEX Reviews