Changing How the World Buys Gold™
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Apmex Precious Metals Overview
Apmex definitely dedicates the bulk of their web presence to their products as well as FAQ to help you answer any questions that you might have. However, they do have a small section that highlights their leadership team as well as employees.
Scott Thomas has been the president of Apmex since its inception. Under his leadership, Apmex has become one of the largest buyers and sellers of gold, silver, and other precious metal products in the United States. In 2009, Mr. Thomas received the prestigious Presidential Award from the American Numismatic Association, the world’s largest and most respected numismatic organization.
In total, they have processed over 100,000 retail purchases totaling more than $1 billion.
Apmex is one of the biggest online distributors of physical metals and collectibles. If you are interested in buying or selling precious metals (including those from all over the world) then this is one of the best places to visit.
- Number of products – Apmex has an almost overwhelming number of products to choose from.
- Selling products to Apmex – If you have gold/silver/etc. that you want to sell, Apmex will buy it from you.
- One-day guarantee – Once they receive your products in the mail they will release your payment by the next business day.
- Products for storage – Apmex is one of the few places we’ve seen that offer products like safes, gift boxes, money bags, etc.
- Autoinvest – If you know what products you like then you can set up a recurring order to automatically invest in those products for you.
- OneGold – Their online platform to monitor your precious metals portfolio.
- Lack of education – Although they do have a few materials that highlight the benefits of investing in precious metals, this is not necessarily the best place to visit if you are a beginner.
- Limited IRA options – If you’d like to open an IRA and fund it with precious metals then you will not be able to use Apmex. However, they partner with several custodians to help make that service available to you (GoldStar Trust, Kingdom Trust, Entrust Group, Strata Trust, and Equity Trust).
Apmex Precious Metals
Apmex offers the widest selection of precious metals products. Apmex offers customers the option of buying gold & silver for home delivery or purchasing metals through a Gold IRA.
Fees & Prices
The main fees and prices that you would pay are the cost of the product you want to buy, shipping, handling, and insurance.
The only other charge is for shipping, which will vary based on how much product you order. Shipping is free on purchases of $99 or more.
For selling a product to Apmex:
- ACH – Receive an account transfer of up to $50,000 with no fee
- Bank Wire – $25 fee if under $10,000 USD
- Business check – Up to $25,000 sent via first class mail
Trade for product – Must be done via phone
After you have purchased a product, you will have the option to store it with Citadel (a third-party secure storage facility) to safely hold your products for you. Citadel offers many advantages for storing your metals including fully protecting against physical loss, damage, theft, or other liabilities. Additionally, unlike banks, where your access impacted by government decisions, Citadel has a storage agreement with a private company that is a global leader in security solutions.
There is no fee to ship your products to Citadel Storage Facility if it is an order over $500. However, orders under $500 will have a $9.95 shipping fee.
The annual storage fee for approximately $33,000 or less in value is only $15 per month, which is their minimum fee. That monthly fee is comparable to the cost of an uninsured safe deposit box at your local bank. For $50,000 of assets the monthly storage fee is about $23 per month.
The minimum purchase from APMEX for a gold IRA is $2,000.
Products and Services
Apmex has way too many products to list and if you need to buy precious metals or other rare metals or currencies then this is the place.
Here are just a few of their categories:
- Rare coins – U.S. rare coins, silver, gold
- Gold – Products from the U.S. mint, Canadian, Perth, Royal, Mexican, and more
- Silver – Products from the U.S. mind, Canadian, Perth, Royal, Mexican, and more
- Platinum & Palladium – Products from the U.S. Mint, Royal, Perth, and more
- Discounted deals – “Vault Deals” with savings on gold, silver, and collectibles.
- Currencies – U.S., confederate, colonial, Hawaii, Asia, European, and many other major countries
- Copper – Bars, bullion, rounds
- Jewelry – Gold, silver, sports jewelry
- Exonumia – Tokens, medals, stocks & bonds, gaming tokens
Storage & supplies – Giftboxes, storage, safes, etc.
In addition to offering quality products to purchase, Apmex is also willing to buy precious metal products from you.
It’s a 5 step process to sell products to Apmex:
- Call and request a quote on the products that you want to sell.
- Lock in your price. Once you have confirmed the number of products and confirmed a price over the phone then it will be locked in while your products ship to their facility. This way you do not need to worry about price fluctuations during the time it takes for your products to ship.
- Securely pack your products in a new, unmarked box and ship them securely to their warehouse.
- Allow their team a few days to receive your product and authenticate it.
- Get paid. They guarantee a one-day turnaround for getting you paid from the time that they receive your order. You can get paid via check, ACH transfer, or trade for a product that they sell. Shipping fees are deducted from your payment so that there are no out-of-pocket costs to you.
We hope that you’ve found this review of Apmex to be valuable in understanding what some of the pros and cons are to using their service. If you’re interested in reading more, please subscribe to get alerted of new reviews as we write them.