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Goldline is a name that you have either heard of or listened to their commercials on your work commute. You are probably aware that it is a precious metals company, but don’t know whether they charge fair prices or are even worth your time.
Fortunately, you are reading this review and here we will teach you all there’s to know about Goldline and answer any questions that you might have regarding this precious metals company. However, before we dive in, here is a brief summary.
Before we get started with this review:
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Table of Contents
Who is APMEX?
What Does APMEX Offer?
Is APMEX a Scam?
Is APMEX a Legitimate Company?
APMEX Reviews
Things To Like About APMEX
APMEX Complaints
Conclusion
Should You Invest with APMEX or are there Better Alternatives?
#1
#2
#3
Who is APMEX?
The goal of this APMEX review is to provide comprehensive answers to this question and others and assist potential investors and interested parties in developing result-oriented strategies for investment in precious metals assets.
We understand identifying and working with a genuine dealer lies at the heart of any successful investment strategy in the precious metals industry. Understandably, your quest for a trustworthy precious metals dealer may have provoked more questions than answers.
You have heard of APMEX, and you are wondering if the company is a con or not, what is their rating and nature and resolution of customer complaints.
To begin, APMEX (APMEX Inc.) stands for the American Precious Metals Exchange, which was established in 2000. With its headquarters based in Oklahoma City, the corporation is the world's largest online precious metals retailer.
Targeting potential and existing investors, the company's products include a wide assortment of precious metals such as gold, silver, platinum, and palladium products. Also, the company buys and sells precious metals to collectors and investors at competitive prices.
Besides bullion, APMEX also deals in pre-1933 collectible coins, rare international currencies, and commemorative products.
What Does APMEX Offer?
APMEX is a corporation that sells several products like gold, silver, and platinum on its online platform (website).
Apart from the products mentioned above, APMEX transports Mint bullion products in the United States of America such as platinum, silver, and gold American Eagles, Krugerrands from South Africa, Maple Leafs, and the Royal Canadian mint.
Is APMEX a Scam?
In short, no APMEX is not a scam. American Precious Metals Exchange (APMEX) has been in active operation since 2000 – the year the company opened its doors for business. Additionally, the company has been accredited by the Better Business Bureau (BBB) for all that duration between 2004 and now.
Better Business Bureau (BBB) accredits businesses that observe standards for truthful (full disclosure) advertising and investigates and exposes fraudulent commercial activities to protect the consumer.
Worthy to note, APMEX has handled over $11 billion worth of transactions since it was founded. Over the years, the company has deservedly worked its way up, growing its reputation in the precious metals industry and directly providing employment opportunities to more than 110 persons.
Following sufficient due diligence, we authoritatively recommend APMEX to potential investors as a legitimate precious metals investment company with a good standing over an extended duration of professional work. No, APMEX is NOT a fraud.
Is APMEX a Legitimate Company?
APMEX's specialty is buying and selling various precious metals products online. The company's precious metals products, including gold, silver, and palladium, are traded in bars, wafers, and bullion coins.
APMEX is a leading dealer of bullion products from foreign countries, including Royal Maple Leafs from Canada and Krugerrands from South Africa. What's more, the company sells rare coins and collectibles, all at fair market prices.
APMEX is not a custodian – the company only carries precious metals of approved grade by the IRA. If an investor does not want to store their precious metal assets for themselves, they can assuredly rely on one of the custodians PEMEX has partnered with for safe and secure storage services.
APMEX Reviews
APMEX Corporation has performed well and has received annual accreditation from Better Business Bureau (BBB) from 2004, scoring a rating of A+. However, there have been some issues:
- The company has amassed 56 customer complaints. Commendably, they have managed to resolve 40 of the complaints in the last one year only.
- APMEX has maintained a rating of 4.14 out of 5.0 from the 182 customer reviews the company has received.
- A breakdown of customer ratings shows 35 customers provided a 1-star rating, two customers gave the company a 2-star rating, and two customers returned a 3-star rating for the APMEX.
- Remarkably, the remaining reviews from 143 customers gave the company a 4 or 5 stars rating.
Since 2000, APMEX has stood out, upholding a strong reputation among many potential precious metals investors. Hitherto, the American Precious Metals Exchange Company has not had any run-ins with government and regulatory institutions since its founding date.
Things To Like About APMEX
1. Professional Service From Sales Representatives
Customers interested in working with APMEX receive the utmost professional service from the sales representatives and the company’s staff members. For example, you will find that the sales are very resourceful, efficiently providing clients with the required information on the company’s products and services.
Anyone interested in investing with APMEX should reach out to its team of professionals and receive proper guidance and the required solutions to their queries.
2. Favorable Ratings
APMEX Company has received outstanding ratings from highly-regarded sources and institutions like BCA, BBB, and TrustLink.
Precisely, BBB gave APMEX a rating of A+, APMEX received a rating of AAA from BCA and five stars from TrustLink. Please note, aside from impressive positive reviews, APMEX has received several complaints from their customers.
3. Many Payment Options
APMEX customers have the luxury of choosing their preferred payment option as offered by the company, like bank wire transfer, personal and cashier’s checks, credit cards, money orders, and certified checks.
Useful Tip: It would be best if the customer used bank wire for payments above $2,500.
Also important to note is that there is a minimum order fee of $50 for every transaction by customers in the United States. Orders received from Canada are charged a minimum of $250, while orders from Europe and Australia are charged a minimum fee of $1,500.
APMEX Complaints
We have established that the company judiciously responds to each confirmed customer complaint and its best capabilities. Generally, the company has managed to resolve most of their customer’s concerns and complaints conclusively.
However, we must note that the frequency of customer complaints in a precious metal dealing company is determined by the size of their customer base and the number of transactions taking place over a given period.
It explains why some institutions may be more relaxed on the small number of negative customer feedback coming on their way while other corporations will be concerned with a similar number of complaints.
Most APMEX customer complaints originate from the following scenarios:
- Declining to accept buybacks of some coins
- Buyback of precious metals at prices lower than the market price
- Asking for high prices for over-spots
- Erroneously sending customers the wrong coins
- An anti-money laundering evaluation process is considered very stringent by many customers
- Indecorous handling of customers by the customer service desk
- Prices marginally higher than that of competitors
- Clients waiting for unusually long periods before their precious metals assets are delivered
- Erroneously charging clients a cancellation fee when the client did not make any order cancellation
- The company refunded money through a check when the client had made the payment using a credit card
- Asking the client to select a different coin option because what the client ordered is not in stock
- When APMEX is unable to respond to unproven customer complaints and receives a 2-star rating from the unconfirmed complaints
- An incorrect representation of APMEX customer ratings – the rating excludes thousands of happy and long-term clients that the company has retained over the years
However, in all fairness, we observed many instances when the company has given a refund and made necessary compensation whenever a mistake was noticed and brought out.
American Precious Metals Exchange is committed to delivering quality services and products to its clients. It recognizes the role of BBB’s accreditation standards in supporting the quick resolution of customer complaints and in good faith. For this reason, and despite many customer complaints, APMEX Company has retained an A+ rating.
Additionally, addressing customer issues shows that the company cares and is committed to cultivating its best professional relationships with its clients. It is an important point when considering which dealer to work with.
On the brighter side, there are many more instances and reviews for APMEX Company where customers had zero concerns or complaints with the company and its service delivery.
- The company has gotten its precious metals assets and sold plenty of gold at fair market value.
- A high number of clients who have repeatedly worked with APMEX say they are happy the transactions have been constantly seamless and would gladly recommend the company to other people
Conclusion
In your search for the right precious metals dealer, you will encounter customer complaints falling on various departments, not just the customer service desk. For instance, our study showed that many customer concerns were centered on the actual product, its delivery, and the billing process.
However, it is important to note that the number of complaints we observed is meager to the magnitude of customers and transactions involved.
Another observation is that most customer complaints lodged with the big companies have to do with late receipt of the shipment or lack of receipt. In some cases, customers were forced to wait for thirty days before the company processed and made the necessary refund to the affected customer.
You are likely to encounter some warnings from investors who have worked with certain companies and had some of their claims conned, or Their dealer never delivered the product they ordered, or clients canceled delivery without any reason at all. Though rare, some customers have had chipped or cracked bars delivered to them.
Usually, the precious metal dealer should meet the shipping costs whenever they need a client to return the defective product. I think most readers agree that in such as case, the burden of extra expenses should be borne by the precious metal dealer company.
Please note: You are likely to come across many company review sites with customer complaints with both discouraging and positive reviews. However, that does not imply the subject company being evaluated is unscrupulous or a con.
Be sure to pay attention to the comments and complaints when conducting your search for a legitimate dealer. Use the best companies in the industry as a benchmark to compare the precious metals companies you are evaluating – remember, all companies have their strong qualities, which is why they are in business in the first place.
More importantly, a company is likely to please its clients if it values and actively pursues long-term relations without being overly concerned with closing its first sale.
Should You Invest with APMEX or are there Better Alternatives?
Today, there are numerous other similar companies in existence offering similar products but with much better reviews and far fewer fees. We definitely urge you to first check those ones out before committing. You will see a clear difference and where they excel in areas where APMEX does not.
We are not saying that APMEX is a scam or illegitimate company, but rather that while some customers have given the company positive reviews, there are much better alternatives out there.
The 3 companies below are some of the best based on customer ratings. Each one has hundreds of 5-star reviews and a 4.7 to 4.9-star rating across varied review websites.
Goldco itself has a great reputation, more than 1,500 5-star reviews, and is endorsed by celebrities like Chuck Norris.
Hopefully, you enjoyed this review and now have a better sense of what the company is like. All the best with your precious metal investments.
#1
- Top overall choice
- Excellent customer experience
- Low early fees
- A+ BBB rating
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#2
- In business since 2003
- Excellent reviews
- 7,500 + satisfied customers
- Great educators
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#3
- Top customer service
- Highly reviewed
- Low early fees
- Low investment minimums
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FAQs
Can APMEX be trusted? ›
Is APMEX Legit? APMEX is not only legit, but after 20+ years in business, they are one of the country's most credible and reliable precious metal exchanges. A team of numismatists who are experts in coins, paper currencies, and precious metals vet APMEX's products.
Does APMEX sell fake gold? ›Here at APMEX, we spend a great deal of time, money and talent on testing and verifying the authenticity of every single Gold and Silver bar and coin that is purchased on the secondary market.
Does APMEX guarantee authenticity? ›APMEX does guarantee that every item that we sell is genuine and that all Precious Metal items do contain the weight, fineness, and purity that we have advertised.
Which is better APMEX or JM Bullion? ›If you're looking for the widest array of products in all categories, APMEX should be your first stop. If you value an exceptional overall customer experience, you should check out JM Bullion.
What is the alternative to APMEX? ›apmex.com's top 5 competitors in May 2023 are: jmbullion.com, providentmetals.com, gainesvillecoins.com, sdbullion.com, and more.
What is the rating on APMEX? ›Ampex Brands has an overall rating of 2.4 out of 5, based on over 41 reviews left anonymously by employees.
What happens if a store sells you fake gold? ›Fines & Seizures
If you intentionally sell replicas, you could be required to pay fines in addition to serving jail time. If the buyer makes a legal claim, you may also be required to refund the money and pay all legal fees, including court costs.
During periods of increased demand, Precious Metal dealers may need to charge a premium that is higher than normal. This is because there are fewer sellers willing to sell Precious Metal bullion at spot price during periods of high demand.
How do you know if a gold dealer is reputable? ›Before you opt to do business with a gold dealer, take a look at his or her history. If the dealer has been in operation for many years, it's a good indication of reliability. Beware of new gold dealers who don't have long track records. An experienced gold dealer will likely have many buying options.
Is APMEX a mint? ›APMEX carries 9Fine Mint Copper, Silver and Gold. These are competitively priced products made using clean technology.
Do you pay tax on APMEX? ›
Some Frequent Asked Questions. When shopping online with APMEX, you may be required to pay state and local sales tax on your purchase, depending on a few variables. First of all, you may be taxed on only part of your order or on your total order. Secondly, the tax rate you pay may vary.
Who is APMEX owned by? ›APMEX's founder Scott Thomas took an interest in coins at a young age working with his grandfather's collection. Six months into the eBay business, as the coin inventory increased, the need arose for a bigger space and more of an online presence.
Which bullion is best? ›Struck by the Royal Canadian Mint, the Canadian Gold Maple Leaf is considered one of the purest gold bullion coins. Every coin has 0.9999 millesimal fine gold. In other words, the Gold Maple coins have next to zero impurities.
What is the most sought after bullion? ›- American Gold Eagle. ...
- Canadian Gold Maple Leaf. ...
- South African Krugerrand. ...
- Austrian Gold Philharmonic. ...
- Chinese Gold Panda. ...
- British Gold Britannia. ...
- Australian Gold Kangaroo. ...
- Mexican Gold Libertad.
You can purchase gold bullion in a number of ways: through an online dealer such as APMEX or JM Bullion, or even a local dealer or collector. A pawn shop may also sell gold. Note gold's spot price – the price per ounce right now in the market – as you're buying, so that you can make a fair deal.
What is the best alternative to real gold? ›- STAINLESS STEEL. This metal alternative is very strong and durable. ...
- TITANIUM. Titanium is pure – not combined with any other metal alloy – and therefore hypoallergenic. ...
- COBALT. Cobalt is naturally white, hypoallergenic, as well as scratch, chip and shatter resistant.
Learn About Coin Grading. For more than 30 years, collectors have valued the third-party grading system, which provides independent assessment and certification. APMEX has taken an industry-leading step in making it easier than ever for shoppers to compare and buy certified coins.
Where is APMEX based out of? ›Where are APMEX headquarters? The headquarters for APMEX are in Oklahoma City Oklahoma, United States.
What is APMEX minimum buyback? ›Please also keep in mind that our minimum buy back is $1,000 (USD), we do not purchase raw ungraded pennies, jewelry items (rings, necklaces, etc..) and unrefined precious metals (dust, nuggets, etc...)
Is APMEX an American company? ›APMEX is located in Oklahoma City, Oklahoma, United States .
What are the benefits of APMEX elite? ›
- Early Access. Be first in line for limited offers or popular new releases with early access. ...
- Flash Sales. ...
- Exclusive Offers. ...
- Anniversary Gifts.
To avoid falling victim to fake gold fraud in Gold IRA Scams, investors should buy gold only from reputable and trustworthy IRA dealers with a proven track record of selling authentic gold. Investors should learn about actual gold's weight, purity, and appearance to discover differences in their gold.
Can a jeweler tell if gold is real? ›Jewelers often use nitric acid to test their gold. Basically, gold won't react to nitric acid, but all other metals will turn greenish.
How to avoid buying fake gold? ›Check their reputation and reviews to ensure they are trustworthy and reliable. It's also important to compare prices and avoid sellers who offer prices that seem too good to be true. Doing your due diligence and researching before purchasing can prevent fake gold coins and protect your investment.
How much over spot should I pay for gold? ›On average, you should expect to pay between 2 and 5 percent over spot. Any more than that, and you're going to have a harder time recouping your costs.
Why can't I buy gold at spot price? ›It is almost impossible to buy silver, gold, and other precious metals at spot price because the spot price does not take into account the additional costs associated with the design, manufacture, transportation, purchase, or sale of precious metals, such as packaging, shipping, handling, or insurance.
What is the highest spot price for gold? ›| Actual | Previous | Highest |
|---|---|---|
| 1961.50 | 1967.76 | 2074.88 |
Gold coins are known to have more sentimental value than gold bars both historically and culturally. Simply put, gold coins can be more ideal for you than gold bars if you want to invest in something with a more historical and cultural value. Again, gold coins have more collectible value than gold bars.
What is the most trusted place to buy gold and silver? ›JM Bullion - Best Overall
In addition to gold, they carry silver, platinum, copper, and palladium. JM Bullion's prices are transparent and competitive. They have no commissions or fees, and their site is easy and intuitive to navigate.
Since opening our doors in 2000, APMEX remains one of the largest sources in the Precious Metals industry.
Does APMEX require signature? ›
APMEX orders are shipped Registered/Insured U.S. Mail, & UPS. Each package is fully insured and may require a signature upon delivery.
What does APMEX pay for silver eagles? ›Keep these restrictions in mind
We will pay $115.95 per coin, with a limit of one coin per household. This includes the issue price and an additional $50. This payment will be the same regardless of which U.S. Mint shipping method you choose.
Form 1099-B for Reporting Precious Metal Transactions to the IRS. The 1099 series is a set of forms used to report any profits made by non-corporate sellers. They allow the IRS to prevent many instances of tax evasion. Keeping track of individuals who may be selling items as a source of income is one key focus.
Does the IRS track gold sales? ›The answer is that there is no limit on how much gold you can purchase without reporting it. However, any sale of precious metals, including gold coins, must be reported on your tax return. So, while there is no limit on how much gold you can purchase, you will still need to report any sales to the IRS.
Does the government track gold purchases? ›Information the IRS Will Require
When a gold purchase is required to be reported, the dealer will be the one to report it. Form 8300 requires information about the gold buyer, including name, social security number, address, and license number.
| Order Value | Price | Premium |
|---|---|---|
| $ 1 - $ 136,999 | $ 2,084.31 | 6.00% |
| $ 137,000 - $ 342,999 | $ 2,080.38 | 5.80% |
| $ 343,000 - $ 684,999 | $ 2,077.80 | 5.67% |
| $ 685,000 - $ 1,368,999 | $ 2,075.18 | 5.53% |
You can buy gold bars from dealers, individuals or online from sites like JMBullion, the American Precious Metals Exchange (APMEX) or SD Bullion. And keep in mind that you may be on the hook for delivery fees—plus insurance—to assure the safe transport of your bullion.
Can I use a debit card on APMEX? ›What form of payment does APMEX accept? Payment to APMEX must be provided using one of the following: Credit/debit card (excluding prepaid cards) PayPal.
What time of year is best to buy gold bullion? ›What time of year should someone buy gold? According to GoldSilver, an online precious metals dealer, the best times of the year to purchase gold are in early January, March and early April, or from mid-June to early July.
Is it better to buy gold or silver bullion? ›Bottom line. Both silver and gold can function as safe haven assets, but gold tends to have a better track record over long periods of time. That said, over shorter periods the specific dynamics of each market end up being more important to their respective returns.
Is it better to buy silver coins or bullion? ›
Silver bullion can typically be acquired at lower premiums than silver coins and has a value that closely tracks the spot price of silver. This means that as long as you properly store silver bullion, you can reliably track changes in its value by checking the current price of silver.
What is the easiest gold to sell? ›Gold bullion is the most popular type of gold to hold as an investment or store of value, as it's generally easy to sell, and maintains its value well. When we're talking about selling gold, you can also get a good amount of money by selling gold wedding bands, engagement rings and other types of jewelry.
What is the easiest silver bullion to sell? ›Silver bars are rectangular ingots made to a precisely defined size and weight. They are usually stamped with marks identifying their origin, manufacturer, weight, serial number, mint, and purity. Silver bars are 99.99 or 99.9% silver, making them the easiest form to identify and sell.
What is the most popular one ounce gold coin? ›The Canadian Gold Maple Leaf is arguably one of the most famous gold coins. It contains 1 troy ounce of 99.99% pure gold and has been produced by the Royal Canadian Mint since 1979, being one of the first modern gold bullion coins in the market.
Is Apmex legitimate? ›APMEX is not only legit, but after 20+ years in business, they are one of the country's most credible and reliable precious metal exchanges. A team of numismatists who are experts in coins, paper currencies, and precious metals vet APMEX's products.
How much gold are you allowed to have? ›Physical gold. According to the CBDT's most recent circular, men, regardless of marital status, are only allowed to possess 100 g of real gold in the form of jewelry and ornaments. Married women are allowed to possess 500 g, unmarried women 250 g, and men 500 g.
Is it better to buy gold online or in store? ›Buying online is as safe as buying from a physical retailer, if not even safer. Whether you're interested in purchasing gold bars or coins, you can buy gold online and be safe as long as you deal with a reputable gold company, such as International Precious Metals.
Is apmax legit? ›Is APMEX legit? APMEX has been in business since 2000 and has sold more than 130 million ounces of gold and silver in more than 60 countries around the world.
Is JM Bullion legit? ›Is JM Bullion Legit? There are numerous physical sites for JM Bullion all around the US. Since the firm is handled by reputable individuals, it is not a scam but rather a legitimate precious metals enterprise with over ten years of experience.
What does APMEX stand for? ›About the American Precious Metals Exchange | Direct US Mint Relationship | APMEX.
How do I pay on APMEX? ›
- Credit card. APMEX accepts Visa, MasterCard, Discover and American Express.
- PayPal. This payment method can only be used on web orders.
- Checks (personal/certified/cashier's) through the mail (payment instructions) ...
- Same day bank wire (payment instructions)
I'd stop investing in gold and silver completely. I don't put money in precious metals at all, because they have a lousy long-term track record. — Dave Ramsey is CEO of Ramsey Solutions.
Do banks buy gold or silver? ›#1: They buy gold to manage risk & promote stability
One of the primary responsibilities of central banks is to promote the stability of a country's financial system.
Sovereign Gold Bonds are the most suitable choice if you plan to stay invested for a period of 5 years or longer. Not only will you receive regular interest payouts while you stay invested, but you will also have the option of making tax-free redemptions after staying invested for at least 5 years.
Can you return on APMEX? ›What is your return policy? We guarantee your satisfaction at APMEX. We provide all our customers with a refund, return and/or exchange policy on everything we sell including all bullion and certified coins. This right is limited to seven (7) days from the date on which the customer receives their items.