Is APMEX Safe? Is It a Reputable Company? - The Art of Retirement Investing (2023)

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Finding a trustworthy company to do business is not easy. Especially more challenging to trust when it involves an exchange of your money.

If you’ve decided to invest in gold and came across APMEX, it’s natural to wonder if it’s a reputable company.

So, in this review, we’ll cover the following:

  • Is APMEX legit and safe to buy from?
  • Is there a shady reason behind their name change?
  • The process and costs
  • Lots more

Without further ado, let’s get started.

Table of Contents

Why Did APMEX Change Its Name?

Clearly, this might seem like a huge red flag.

While it’s true that many shady companies change their names after being involved in some sort of scandal or lawsuit, that’s not the case here.

But let’s back up for a minute and explore a little of APMEX’s background and its founder.

Scott Thomas was influenced by his grandfather, who sold precious metals and coins through a mail-order catalog, and decided to start his own business in 2000.

Interestingly enough, he began on eBay platform and became so successful that it took over the former Federal Reserve Building in Oklahoma City for its headquarters.

(Pretty impressive.)

Now, Thomas original called his company ‘American Precious Metals Exchange’.

When they launched their own website in 2004, they decided to change the name to APMEX, one that wasmuch shorter and more tech-sounding.

As you can see, this was all about branding and nothing to do with fraudulent behavior.

So, that’s a green flag.

Now, let’s address other worries you may have when dealing with this precious metal dealer.

(Video) I Compared My Gold Dealer’s Price to APMEX, This is What I Found

Concerns About Online-Only Aspect

Let’s face it:

With the events that took place a couple of years ago, online shopping is more common than ever. But it’s understandable why you’d be a bit nervous.

Especially since it’s your money we’re talking about here.

A common concern is to share your private personal information to someone on the Internet. Again, that’s understandable.

As someone who’s been in the online business world for several years, sadly I can confirm that there are a lot of scams or fraudulent online companies.

And that’s why it’s extremely important to dig deep when doing research to make sure that whoever you’re dealing with is legit.

Here are some tips for you to avoid being defrauded:

1) Double-check that they have a physical address and phone number prominently listed on its website.

2) Checking online reviews, reading forums, as well as BBB and BCA ratings is another way to protect yourself.

Another thing you should know about is that just because a business is online-only, it doesn’t necessarily mean it’s a scam.

Most people do that to keep their costs low.

In APMEX’s case, they fully embraced its status as an online store and even launched their own app.


If you’re one of the risk-averse people, then having an agent call you and help with your order can help alleviate some of your fears.

And if you’re one of those who does everything online, then ordering gold and precious metals through the website or app won’t be a problem for you at all.

And last thing:

Remember that just because a company is legit, doesn’t mean it’s right for you. Always think about what your true needs and requests are.

Purchasing Process

Before we go any further, we want to be clear that they don’t offer Gold IRAs.

However, they do have partnerships with a number of custodians.

(Video) Is It Safe To Order Silver Online?

This means that you can open an individual retirement account through one of their partners and then purchase your IRS-approved products through the website.

If you’re like us, this sounds like adding an additional step to the process.

Personally, we’d rather deal with a company that can take care of all of our investing needs without having to direct us to a third-party partner.

The minimum purchase amount allowed by themis a very reasonable $2,000. To make a purchase, you simply need to establish an account in their online store.

You’ll be asked for identifying information like your name and address along with your banking details.

For those who are uncomfortable buying expensive items like gold and precious metals online, there is a toll-free phone number available.

However, that number is a customer service line, so it’s not likely that you could consistently call to place your order with an agent.

The system is set up in a way to have its sales processed through its online store or its app.

Fees and Costs

APMEX has a reputation for offering a wide range of coins, bullion, and bars at some of the lowest prices.

But what are the costs you should know about?

It’s shipping, handling, and insurance charges.

  • free shipping on domestic orders for over $199
  • $9.95 shipping fee on orders under $199
  • $9.95 shipping fee on Citadel orders under $500

There have been some complaints online about the $35 fee charged with each transaction.

The good news is that the more you do business with them, the lower will be the fees.

As a Gold Level Customer, you could even receive free shipping as a loyalty perk.

If you plan on investing with them, be sure to enroll in the loyalty program to enjoy lower fees and other bonuses.

If you choose to open a gold IRA, then any associated fees will be charged by their custodian partners, not the company you’re buying your assets from.

But if you want our honest opinion, we recommend going with firms whose specialty are Gold IRAs.

Our #1 Recommended Gold IRA Company

(With the lowest fees and the strongest reputation!)

Is APMEX Safe? Is It a Reputable Company? - The Art of Retirement Investing (1)


  • Award-winning customer service

  • Competitive prices with no hidden fees or commissions

  • Named "Best Overall Gold IRA Company" by Money Magazine

  • Account lifetime support

  • 7-day return policy for first-time buyers

  • No hidden fees or commissions

  • A+ rating by the Better Business Bureau

Our Rating:


Our In-Depth Review!

Overall, the fees and costs associated with APMEX are in line with other precious metal dealers or slightly lower.

(Video) I can't trust APMEX anymore. Gold & silver unboxing & bad bullion dealer review.

(Keep in mind that when shopping with them, the state taxes will also apply.)

Ratings and Reviews

Unfortunately, some of the reviews that are posted online aren’t very favorable towards the firm.

But listen, we all know that there are some people who just love to complain about everything.

However, with the number of negative reviews and ratings, it does give one pause.

There are a number of other reputable precious metals companies that have mostly positive reviews, so this could be a red flag.

On the other hand, itis a volume dealer.

And, it does make sense that the more transactions that they conduct and the more customers that they have, they might have more negative reviews than other smaller volume companies.

Those were mostly about the issues with the firm’s customer service team and none of the ratings indicated that the company is a fraud or a scam.

APMEX gets good reviews when it comes to the breadth of its product offerings and its in-house self-minted line of gold and silver coins and bars.

If you are more of a coin collector than an investor, this online store might be of your dreams!

APMEX Complaints

You may wonder, is it safe to buy gold from APMEX?

We think it is, despite some complaints.

If we take a look at the Better Business Bureau (BBB) and the Business-Consumer Alliance (BCA), there are a few complaints that we should mention.

Is APMEX Safe? Is It a Reputable Company? - The Art of Retirement Investing (2)

So, it’s not good news from BCA.

They give the company a “D” rating due to the number of complaints lodged against them.

These are more of the damaged goods or shipping mishap types, and in no way disprove that it is legit.

One user complains about having difficulty paying with an eCheck.

Another says that the plastic holder containing the coin they ordered was damaged.

A Gold Level Customer left a review complaining about having to pay for shipping and handling even though they’re a longtime and loyal customer.

(Video) Why You Shouldn't Buy Physical Gold And Silver

The BBB rates them an “A” with a 3.87 rating out of a possible 5, based on 187 reviews.

Of note, APMEX has been registered with the BBB since 2004 and you will see its original name ‘American Precious Metals Exchange’ there.

Now, there’s also a less-than-favorable online profile of this business.

To date, Trustpilot has received 7,803 reviews from consumers and gives a score of 2.1 stars.

It’s important to note that APMEX has 88% of 5-star reviews, but the reason why Trustpilot rates it this low is because it also considers other factors like age, number of reviews, and whether or not a company asks customers to leave reviews.

The negative responses were about customer service issues, not receiving orders at all, receiving the wrong product, not getting refunds, and the like.

We’ll be honest:

Paying for a product that’s never received is becoming more of a concern among investors.

All we can say about this is to make sure that you only deal with reputable companies.

It also makes sense to make sure that anything that you order is already in stock and ready to ship. You don’t ever want to pay for a product that the seller doesn’t have in their possession.

Overall, we can’t accuse this firm of running scams, fraud, or deceit because so far there’s nothing that seriously point to that.

Opening a Gold IRA With Them?

While APMEX is a pretty popular as a precious metal dealer, they wouldn’t be our top pick in terms of Gold IRAs.

If this is more of interest to you, then look into Augusta Precious Metals.

This company has been doing business for nearly 20 years, which is a decent amount of time.

They offer a huge range of products, from IRS-approved coins and bullion to collectors’ items popular with numismatists.

If you were to go with APMEX specifically to open a gold individual retirement account, then you’d have unnecessary extra steps.

Meanwhile Augusta has the products, tools, and expertise that investors can rely on when it comes to adding physical assets to their overall investment portfolios and letting 99% of the paper to be done by this team.

But again, it all depends on your wants and needs.

Now we’d like to hear from YOU:

(Video) Does the Government Track Gold Purchases? (Answered!)

  • Have you had any negative experience with APMEX?
  • Is it a trustworthy company in your opinion?

Let us know your thoughts in the comments below!


Is APMEX Safe? Is It a Reputable Company? - The Art of Retirement Investing? ›

After evaluating APMEX's background, products and services, pros and cons, and security measures, we can conclude that APMEX is not a scam. The company is a legitimate and reputable precious metals dealer with a strong track record in the industry.

Can APMEX be trusted? ›

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 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.

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.

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.

Is APMEX an American company? ›

APMEX is located in Oklahoma City, Oklahoma, United States .

How long has APMEX been in business? ›

Since opening our doors in 2000, APMEX remains one of the largest sources in the Precious Metals industry.

Why is APMEX spot price so high? ›

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.

Where is APMEX based out of? ›

Where are APMEX headquarters? The headquarters for APMEX are in Oklahoma City Oklahoma, United States.

What is the alternative to APMEX? ›

The closest competitor to the is that ranks 29537 worldwide, 7707 in United States.

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.

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.

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.

Is APMEX a mint? ›

APMEX carries 9Fine Mint Copper, Silver and Gold. These are competitively priced products made using clean technology.

Does APMEX charge tax? ›

What Precious Metals Are Taxed? Taxes must be collected on Copper products, numismatic paper currency, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.

What are the most common fake gold coins? ›

More commonly counterfeited gold coins are Chinese gold pandas, $20 Liberty Head gold coins and St. Gaudens gold coins.

What state is APMEX in? ›

Apmex is an online retailer of precious metals that offers gold, silver, platinum, and palladium products, including coins, bars, jewelry, collectible coins, rare currency, and other numismatics products. It is based in Oklahoma City, Oklahoma.

How do I sell my gold coins to APMEX? ›

How do I sell to APMEX?
  1. If you have not already done so, open a free account online.
  2. Call us at (800) 514-6318 and lock in your price.
  3. Securely pack and ship your items* in a new, unmarked box.
  4. Include the provided detailed packing slip and the confirmation number you receive from the APMEX agent.

Is it smart to invest in gold? ›

Long considered a safe-haven asset for retaining its value throughout history, gold became a darling for investors in 2020 during the worst pandemic in generations, gaining as much as 40%. Gold has returned 18% over the last three years, 54% over the last five years and 41% over the last decade.

How do I pay on APMEX? ›

We accept:
  1. Credit card. APMEX accepts Visa, MasterCard, Discover and American Express.
  2. PayPal. This payment method can only be used on web orders.
  3. Checks (personal/certified/cashier's) through the mail (payment instructions) ...
  4. Same day bank wire (payment instructions)

Is APMEX a private Company? ›

What type of company is APMEX? APMEX is a private company.

Is APMEX on the stock market? ›

The fund is listed on the New York Stock Exchange Arca. This ETF was designed to give investors the opportunity to participate in the Gold market without having to take delivery of physical Gold or deal with other attendant issues such as custody or transaction costs.

What does APMEX stand for? ›

About the American Precious Metals Exchange | Direct US Mint Relationship | APMEX.

What are the benefits of APMEX elite? ›

Here are a few of the most popular benefits our existing members love, which you can take advantage of.
  • Early Access. Be first in line for limited offers or popular new releases with early access. ...
  • Flash Sales. ...
  • Exclusive Offers. ...
  • Anniversary Gifts.

How much over spot should I pay for gold coins? ›

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 I not buy silver 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.

Why are premiums so high on silver coins? ›

One of the reasons the premium on silver is so high compared to gold is the mining and refining costs. Companies involved in silver mining rarely do so as their main objective. The value of silver is already lower than many other metals, but more importantly it is rarely found on its own.

What are APMEX customer ratings? ›


APMEX enjoys an A+ Better Business Bureau rating and a 98% customer satisfaction rating.

How much is a 1 oz gold eagle today? ›

Live Prices
Order ValuePricePremium
$ 1 - $ 136,999$ 2,070.076.00%
$ 137,000 - $ 342,999$ 2,066.175.80%
$ 343,000 - $ 684,999$ 2,063.565.67%
$ 685,000 - $ 1,368,999$ 2,060.965.53%
1 more row

What is APMEX minimum buyback? ›

Before submitting your quote to APMEX, please review the necessary information our Purchasing Department requires. 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 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.

How long does it take for APMEX to ship? ›

APMEX orders are shipped Registered/Insured U.S. Mail and UPS. Each package is fully insured and may require a signature upon delivery. Packages can take on average 1-10 business days for delivery. The tracking number will be provided via email to you upon date of shipment.

Why is APMEX spot price higher? ›

Premium – The premium over spot price is an additional cost associated with the production and distribution of the Gold, meaning any overhead costs the dealer generates during the Gold transaction.

Where does APMEX ship from? ›

Orders are shipped from APMEX in Oklahoma City. Packages are fully insured until the time of delivery and will be shipped via either UPS or USPS.

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 is the customer rating of APMEX? ›


APMEX enjoys an A+ Better Business Bureau rating and a 98% customer satisfaction rating.

What type of company is APMEX? ›

APMEX, Inc. operates as an online retailer of precious metals. The Company focuses on providing buying, selling, and educational resources for gold, silver, platinum, palladium, and other precious metals, as well as offers coin values, storage, returns and exchanges, reports, and club services.

Is APMEX a private company? ›

What type of company is APMEX? APMEX is a private company.


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