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Last Updated on November 7, 2023
The demand for precious metals as an investment and a hedge against inflation has been steadily increasing over the past few years.
With this surge in interest, the need for reputable and reliable precious metal dealers has become crucial for both new and experienced investors.
One such dealer that has caught the attention of many is APMEX, which claims to be a trusted source for purchasing precious metals.
In this review, we will explore APMEX, its trustworthiness, products, buying and selling processes, and customer experiences to help you make an informed decision about whether this dealer is right for you.
What is APMEX?
APMEX, or the American Precious Metals Exchange, is an online precious metals dealer founded in 1999. They specialize in the sale of gold, silver, platinum, and palladium products, including bullion, numismatic coins, and bars.
With a large inventory and a reputation for competitive pricing, APMEX has become one of the leading precious metal dealers in the United States.
Is APMEX a Trusted Company?
Over the years, APMEX has built a solid reputation as a trusted and reliable precious metals dealer. They are a member of several industry organizations, such as the Industry Council for Tangible Assets (ICTA) and the Professional Numismatists Guild (PNG). Additionally,
APMEX is an authorized dealer for the United States Mint and the Royal Canadian Mint, which further demonstrates their credibility in the industry.
Does APMEX Have Fake Gold?
No, APMEX does not sell fake gold. The possibility of counterfeit precious metals is a concern for many investors. However, APMEX has taken several measures to ensure the authenticity of the products they sell.
They work closely with authorized dealers and mints, and their team of experts inspects and verifies the quality and authenticity of each product before it’s sold.
In the rare event that a counterfeit item were ever discovered, APMEX has a comprehensive return policy in place to address the issue.
What Products Do They Sell?
APMEX offers a wide range of precious metal products, including:
- Gold, silver, platinum, and palladium bullion coins and bars from various countries and private mints
- Numismatic coins, including graded coins, modern commemoratives, and historical pieces
- Precious metal IRAs (Individual Retirement Accounts) and investment options
With a vast inventory, APMEX caters to both collectors and investors with varying preferences and budgets.
What’s the Buying Process Like?
Purchasing precious metals from APMEX is a straightforward process. Customers can browse their extensive online catalog, place an order, and pay through various payment methods, including credit/debit cards, PayPal, bank wires, and even cryptocurrencies.
APMEX offers different shipping options, including free shipping for orders above a certain threshold.
They also provide insurance for all shipped products, ensuring that your investment is protected.
Selling Precious Metals to APMEX
APMEX allows customers to sell their precious metals back to the company. They offer competitive buy-back prices based on current market rates.
Sellers must contact APMEX to receive a quote and can then ship their items to the company.
Once the items have been inspected and verified, APMEX will issue payment through various methods, such as check or bank wire.
Does APMEX Have a Gold IRA?
Yes, APMEX offers a Gold IRA option, which allows investors to include physical precious metals in their retirement accounts.
The company works with various IRA custodians and storage facilities, ensuring that the entire process of setting up and managing a precious metal IRA is seamless and convenient for their customers.
How it Works
APMEX offers a Gold IRA option that allows investors to include physical precious metals in their retirement accounts. A Gold IRA functions similarly to a traditional IRA but holds approved physical precious metals instead of paper assets.
Here is a step-by-step breakdown of how the APMEX Gold IRA works:
- Choose a custodian: APMEX works with various IRA custodians, who are responsible for managing your Gold IRA account. You will need to open a self-directed IRA with one of these custodians. APMEX can help you choose a suitable custodian based on your needs and preferences.
- Fund your account: After setting up a self-directed IRA with a custodian, you will need to fund the account. This can be done through a direct contribution, a transfer from an existing IRA, or a rollover from a 401(k), 403(b), or other qualified retirement plan.
- Select your precious metals: Once your account is funded, you can choose the approved precious metal products you want to purchase for your Gold IRA. APMEX offers a wide range of eligible gold, silver, platinum, and palladium products that meet the Internal Revenue Service’s (IRS) purity and weight requirements.
- Purchase and storage: After selecting your precious metals, APMEX will facilitate the purchase and arrange for secure storage at an approved depository. By law, the physical precious metals in a Gold IRA must be held in an IRS-approved depository to maintain the tax-deferred status of your account.
- Manage your account: You can work with your custodian to manage your Gold IRA, including buying and selling precious metals or making changes to your account as needed. As with any retirement account, it’s essential to keep track of your investments and make adjustments to suit your financial goals and risk tolerance.
- Distribution and taxes: When you reach the eligible age for taking distributions from your Gold IRA (typically 59.5 years old), you can choose to receive distributions in the form of physical precious metals or cash. Keep in mind that distributions are subject to taxes, just like traditional IRAs.
By offering a Gold IRA option, APMEX provides investors with a convenient and secure way to diversify their retirement portfolios with physical precious metals, which can act as a hedge against inflation and market volatility.
Why You May Want to Consider Investing in Precious Metals
Investing in precious metals can be a strategic move for individuals seeking to diversify their investment portfolios, protect their wealth, and mitigate the risks associated with economic fluctuations. Here is an overview of some key reasons to consider investing in precious metals:
- Portfolio diversification: Precious metals, such as gold and silver, can serve as an effective diversification tool in an investment portfolio. They often exhibit a low or negative correlation with traditional assets like stocks and bonds, which means they can potentially reduce the overall risk and volatility of a portfolio.
- Inflation hedge: Precious metals have historically been considered a hedge against inflation. As the value of fiat currency declines due to inflation, the value of precious metals often increases, helping to preserve the purchasing power of an investor’s assets.
- Safe-haven investment: During times of economic and geopolitical uncertainty, precious metals are often seen as a safe-haven investment. Investors may turn to gold, silver, or other precious metals to protect their wealth when the financial markets are unstable or when there is a lack of confidence in paper assets.
- Tangible asset: Unlike paper assets or digital investments, precious metals are tangible assets that can be held and stored physically. This feature can provide a sense of security for investors who prefer to have direct control over their investments.
- Supply and demand dynamics: The demand for precious metals can be driven by various factors, including industrial uses, jewelry, and investment purposes. As demand increases and supplies become limited, the value of precious metals may rise, providing potential appreciation for investors.
- Currency risk mitigation: Investing in precious metals can help to mitigate the risk associated with currency fluctuations. Since precious metals are generally priced in U.S. dollars, a weakening U.S. dollar can often result in higher precious metal prices, providing a hedge for investors holding other currencies.
- Potential for capital appreciation: While the primary focus of investing in precious metals is often wealth preservation, there is also the potential for capital appreciation. Over the long term, the prices of gold, silver, and other precious metals may increase, providing investors with the opportunity to profit from their investments. There are also some significant tax advantages associated with this as well.
In summary, investing in precious metals can be an effective strategy for diversifying an investment portfolio, protecting wealth against inflation and economic instability, and offering potential capital appreciation.
However, it’s essential to carefully consider the risks and rewards associated with precious metals investments and to consult with a financial advisor before making any investment decisions.
BBB Rating and User Reviews
APMEX is accredited by the Better Business Bureau (BBB) and holds an A+ rating, reflecting their commitment to customer satisfaction and transparent business practices.
User reviews on the BBB website and other review platforms are predominantly positive, with many customers praising APMEX for their competitive pricing, extensive product selection, and excellent customer service.
However, as with any business, there are occasional negative reviews, with some customers expressing dissatisfaction with shipping times or specific product issues.
APMEX is proactive in addressing these concerns and works to resolve customer complaints promptly.
Pros and Cons
- Wide selection of precious metal products
- Competitive pricing and buy-back rates
- Trusted and reputable company with strong industry affiliations
- User-friendly website and easy purchasing process
- Gold IRA option available
- High BBB rating and positive customer reviews
- Shipping times may occasionally be longer than expected
- Some customers may find the minimum order requirement for free shipping to be high
- Limited physical presence, with only an online store available
As of my knowledge cutoff date in March 2023, there have been no major lawsuits involving APMEX that would significantly impact the company’s reputation or operations.
However, it’s essential to conduct up-to-date research and stay informed about any potential legal issues that may have arisen since then.
As with any business, it’s crucial to consider all available information and reviews to make the best decision when choosing a precious metals dealer.
Each of these alternatives to APMEX offers unique benefits and features that may appeal to different investors, depending on their investment goals, preferences, and risk tolerance. It is essential to carefully evaluate each company and consult with a financial advisor to determine which option is most suitable for your specific needs.
1. Augusta Precious Metals
- Augusta Precious Metals Specializes in Gold and Silver IRAs, making them an attractive option for retirement-focused investors.
- Offers a dedicated customer support team to assist and educate investors throughout the investment process.
- Provides a transparent fee structure with no hidden charges, ensuring investors are aware of all costs associated with their investments.
- Has a strong reputation and positive customer reviews, reflecting their commitment to customer satisfaction and quality service.
- Focuses on Gold and Silver IRAs, positioning them as a reliable option for those seeking retirement investment solutions.
- Offers a wide range of IRS-approved precious metal products, giving investors ample choices for their portfolios.
- Provides educational resources and personalized guidance, helping investors make informed decisions based on their financial goals and risk tolerance.
- Boasts a high rating from the Better Business Bureau (BBB) and positive customer feedback, highlighting their dedication to customer satisfaction and transparency.
3. Noble Gold
- Offers a comprehensive range of precious metal investment options, including Gold, Silver, Platinum, and Palladium IRAs.
- Provides clients with a team of experienced and knowledgeable professionals to guide them through the investment process.
- Offers a buyback program, ensuring that investors have a reliable exit strategy for their precious metal investments.
- Has a strong reputation and positive customer reviews, demonstrating their commitment to providing quality products and services.
APMEX has established itself as a leading precious metals dealer by offering a wide range of high-quality products, competitive pricing, and excellent customer service.
Their strong industry affiliations, Gold IRA options, and positive customer reviews further support their reputation as a trusted and reliable company.
While some customers may have experienced occasional issues with shipping times or specific products, APMEX’s proactive approach to resolving complaints demonstrates their commitment to customer satisfaction.
Overall, APMEX is a reputable and reliable precious metals dealer that investors and collectors can confidently consider for their precious metal needs.