APMEX Gold & Precious Metals IRA Review

In an era of financial unpredictability, investing in precious metals has become a popular choice among investors seeking a safe haven for their hard-earned wealth. APMEX, the American Precious Metals Exchange, has emerged as a reputable platform offering a wide range of products and services to cater to the diverse needs of investors. But is APMEX truly a reliable source for purchasing precious metals, or is it a risky gamble? Let’s find out through APMEX reviews.

Throughout this in-depth analysis, we will explore APMEX’s product offerings, services and features, pricing and fees, customer service, security, and trustworthiness, along with examining its alternatives and competitors. By the end of this blog post, you will have a comprehensive understanding of whether APMEX is the right choice for your precious metals investment, based on APMEX reviews.

Key Takeaways

• APMEX is a highly respected leader in the precious metals industry offering an extensive range of products and services.
• Customers can benefit from features such as AutoInvest, Gold IRA options, loyalty program discounts, competitive fees & payment methods.
• Research multiple dealers to ensure best value when purchasing precious metals including APMEX and its competitors.

APMEX Overview: A Leader in Precious Metals

Established in 2000, the American Precious Metals Exchange (APMEX) has grown to become a renowned leader in the precious metals industry. With a strong dedication to exceptional customer service, the company offers an extensive range of products, including gold, silver, platinum, and palladium coins and bars from reputable mints. APMEX also provides services like the Gold IRA, which gives investors the opportunity to diversify their retirement savings with precious metals. While APMEX maintains an A+ rating from the Better Business Bureau, indicating their customer-centric approach, there have been some reports of customers experiencing difficulties reaching their customer care personnel online. Weighing the advantages and disadvantages of dealing with APMEX, along with considering risks related to purchasing precious metals through an exchange, is a necessary step.

APMEX Product Offerings

APMEX offers a wide selection of precious metals products, including a variety of precious metals product options, catering to different investor preferences. With choices ranging from bullion to rare coins and paper currency, APMEX is committed to providing quality products that appeal to both investors and collectors alike. The next few paragraphs will detail APMEX’s product offerings, including their various bullion products, rare and collector coins, and paper currency. This will help in understanding the diverse range of investment opportunities APMEX offers.

Bullion Products

APMEX boasts an extensive selection of gold and silver bullion products, including:

• Gold coins and bars
• Silver coins and bars
• Platinum coins and bars
• Palladium coins and bars

These products are sourced from renowned mints worldwide, ensuring their authenticity and quality. For instance, APMEX offers APMEX-branded gold bars ranging from 1/2 gram to 1 ounce, gold coins from reputable mints, and gold rounds. They also provide a variety of silver, platinum, and palladium bullion products, catering to the diverse preferences of precious metals investors.

Rare and Collector Coins

For those who appreciate the artistry and historical significance of coins, APMEX offers a diverse range of rare and collectible coins. These coins are sourced through various channels, such as coin shops and private collectors, ensuring their authenticity and value. Some examples of rare and collectible coins offered by APMEX include the 1889-CC Morgan Dollar MS-63+ NGC, the 1911 Great Britain 12 Piece Proof Set Maundy Penny to 5 Sov PCGS, and the 1895-S Barber Half Dollar MS-67 NGC. The Morgan Silver Dollar series, in particular, is renowned for its global appeal and sought-after nature.

Paper Currency

Apart from precious metals, APMEX also offers paper currency options for those looking to diversify their investments. With a wide selection of currencies from various countries, APMEX caters to the needs of both investors and collectors alike. APMEX provides paper currency grading services in collaboration with organizations such as Paper Money Guaranty (PMG) and PCGS Banknotes, ensuring the authenticity and value of their offerings. The price range of paper currencies offered by APMEX varies depending on factors such as denomination, type, and rarity.

APMEX Services and Features

Along with their diverse product offerings, APMEX provides several services and features to enhance the customer experience. These include:

• An AutoInvest program for automated, recurring purchases
• Gold IRA options for retirement savings diversification
• A loyalty program for frequent customers

The next few paragraphs will detail these services and features, offering a holistic view of the value-added benefits APMEX provides.

AutoInvest Program

APMEX’s AutoInvest program simplifies the investment process by enabling customers to set up automated, recurring purchases of precious metals. This feature allows investors to build their gold or silver collection over time without the hassle of placing orders manually. With the AutoInvest program, investors can select individual products and establish a schedule for automatic investments. This service not only provides convenience but also allows customers to take advantage of competitive storage and insurance fees, making it an attractive option for precious metals investors.

Gold IRA Options

APMEX offers APMEX Gold IRA services through partnerships with custodians, allowing investors to diversify their retirement savings using precious metals. APMEX requires a $2,000 minimum purchase for setting up a Gold IRA. Investing with APMEX is quick and easy. Eligible precious metals for an IRA with APMEX include other precious metals such as:

• Gold with a purity of 99.5% or higher (excluding US Gold Eagle coins)
• Silver with a purity of 99.9% or higher
• Platinum with a purity of 99.95% or higher
• Palladium with a purity of 99.99% or higher.

APMEX Club Loyalty Program

The APMEX Club is a loyalty program that rewards customers based on their usage and purchase history with their apmex account. As a member, you can enjoy exclusive promotions, alerts on new products, and the ability to create market or product alerts through the precious metals reward card. To join the APMEX Club, simply apply for The Bullion Card on the APMEX website. Upon approval, you will become a member of the Elite Club and gain access to exclusive benefits such as expedited shipping, anniversary gifts, and discounted secure storage.

Pricing, Fees, and Payment Methods

APMEX is committed to providing transparent pricing and fees for its customers. The company applies a premium, or markup, over the spot price for various precious metals, with the spot price representing the current market value of one ounce of metal. In addition to pricing, APMEX charges fees for services such as storage, shipping, and cancellation. However, they do offer a discount for cash, check, or ACH payment methods, with a 3% surcharge applied when using a credit card. To accommodate various customer preferences, APMEX accepts a wide range of payment methods, including:

• Bank wire transfers
• Cashier’s checks
• Personal checks
• Money orders
• Credit cards
• Certified checks

Customer Service and Support

APMEX provides customer support through phone, live chat, and email, making it easy for clients to get assistance with their precious metals needs. Their customer service operates Monday through Thursday from 8 a.m. to 8 p.m. (EST) and Friday from 8 a.m. to 6 p.m. (EST). While many customers have a positive experience when purchasing coins from APMEX, some have reported difficulties when selling back to the company and reaching customer service personnel. Despite these issues, APMEX maintains a favorable rating on the Better Business Bureau (BBB) and is committed to upholding a positive reputation in the industry. Potential investors should compare customer service experiences, including instances when they called customer service, across different precious metals dealers to select the only company that prioritizes customer satisfaction and support provided by their customer service team.

Security and Trustworthiness

APMEX is dedicated to providing a secure and trustworthy platform for precious metals investors. To ensure the safety and security of its clients’ investments, APMEX has partnered with Citadel Global Depository Services, a reputable custodian service that securely stores precious metals on behalf of customers. While APMEX takes measures to ensure the security and trustworthiness of its services, investors should be aware of potential risks associated with the company’s insurance and shipping policies, as well as their buyback program. The next few paragraphs will detail these aspects.

Insurance and Shipping Policies

APMEX provides full insurance coverage for all shipments, with a maximum coverage limit of $60,000 for packages. This insurance mitigates the risks associated with mailing precious metals, offering peace of mind to investors. In addition to insurance, APMEX offers international shipping to numerous countries, although shipping options, fees, and delivery times may differ depending on the destination.

Buyback Program Considerations

APMEX’s buyback program allows investors to sell their precious metals holdings back to the company. However, it is important to note that if the items are deemed to be of lower quality during the buyback process, APMEX may offer a reduced price. Before deciding to sell back to APMEX, investors should compare buyback prices from different companies to ensure they receive the best possible value for their precious metals.

APMEX Alternatives and Competitors

While APMEX is a reliable platform for purchasing precious metals, considering alternative options is necessary. Competitors such as JM Bullion, Money Metals Exchange, and SD Bullion offer similar products and services, giving investors the opportunity to compare pricing, fees, and customer experiences before committing to a specific platform. Researching and evaluating multiple precious metals dealers allows investors to make well-considered decisions and select the platform that best fits their unique investment needs and preferences when they decide to purchase precious metals.

Summary

In conclusion, APMEX is a reputable precious metals dealer offering a wide range of products and services to cater to the diverse needs of investors. With a strong focus on customer service, security, and trustworthiness, APMEX has established itself as a leading player in the precious metals industry. However, potential investors should consider potential risks and drawbacks associated with APMEX’s buyback program and customer service experiences. Ultimately, the decision to invest in precious metals through APMEX or another platform depends on individual preferences and research. By considering the information presented in this blog post, investors can make an informed choice that aligns with their financial goals and risk tolerance.

Frequently Asked Questions

How trustworthy is APMEX?

APMEX is a highly credible and reliable precious metal exchange, having been in business for over 20 years. Their products are vetted by an expert team of numismatists and are one of the most trustworthy exchanges in the country.

Does APMEX sell fake Gold?

APMEX takes the necessary steps to ensure the authenticity of its Gold and Silver products, so it can confidently be said that they do not sell fake Gold.

Does APMEX report purchases to IRS?

Yes, APMEX reports purchases to the IRS via FORM 1099-B if required, and must report sales transactions under the Form 8300 requirement.

Is APMEX legit for gold?

APMEX has been a trusted exchange in the United States for over 20 years, and they receive 3.9/5 stars from the BBB, as well as various positive reviews online. Additionally, their experienced numismatists and easy shopping experience make APMEX an excellent choice for investing in gold.

What types of precious metals does APMEX offer?

APMEX offers a variety of precious metals, including gold, silver, platinum, and palladium coins and bars, as well as rare and collector coins and paper currency.