While endless investment options are available today, each comes with a share of risks and uncertainties based on the financial market. But due to the intrinsic value and historical resilience that precious metals investments bring, it is undeniably the ideal investment consideration.
Having said that, how can you limit the risks of uncertainty and losing money when investing in these assets? Considering my experience working in the precious metals industry for over two decades, I believe this is where partnering with a reliable firm plays a prominent role.
With the right firm, you don't just get professional assistance but also knowledge on how to navigate through this market and make the most of it. Now, in this industry's long list of reliable investment companies, one name often trusted by investors is APMEX.
APMEX wins over its investors for its wide range of gold assets, such as bullion coins and bars, while allowing clients to invest in an IRA account. There’s a lot more the company offers, so let's take a look at it in this detailed review.
APMEX: A Brief Overview
Based in Oklahoma City and previously known as American Precious Metals Exchange, APMEX is a leader in online precious metals trading and is one of the largest US internet retailers. Under the supervision of its president and chairman Scott Thomas, and CEO Kenneth Lewis, APMEX has made a strong name since its inception in 2000.
What's interesting about this company is its commitment to giving customers an unrivaled Precious Metals experience. So, from their excellent service to exceptional product quality, safe storage depositories, fast delivery, and more — APMEX has a lot in store for its users.
APMEX Products And Services
According to my thorough research and extensive experience, here is what I have discovered about APMEX's products and services:
A Wide Range Of Gold And Silver Coins
Starting with the basics, investing in precious metals with APMEX comes with endless possibilities for diversifying your portfolio. The wide list of investment options is one of the factors that amazed me the most about the company too. According to the APMEX website, you can explore the following investments:
- Rare Coins
While this may seem like a short list, there are a lot of sub-categories of precious metals APMEX offers in each of these categories. With my decades of experience investing in this industry, I believe this is an ideal opportunity for both new and seasoned investors partnering with APMEX to invest in various valuable assets and secure their hard-earned money for years to come.
Precious Metal IRA
Investors can form an IRA or transfer an existing IRA to APMEX through a custodial partner. For this, APMEX collaborates with several trusted and reliable companies that assist investors in opening an IRA account.
Once an investor has established an account, they can select from any IRA-eligible assets offered by APMEX. From what I have explored, you can choose from any of the following IRA-eligible precious metals:
- Gold with a purity of above 99.5% (excluding US Gold Eagle coins)
- Silver with a purity of at least 99.9%
- Platinum with a purity of at least 99.95%
- Palladium with a purity of at least 99.99%
APMEX has distinctive offerings, including access to OneGold—an innovative investment platform that allows secure digital ownership of Gold, Silver, and Platinum. This makes APMEX stand out by offering more than the standard precious metals and IRA account services.
Launched by APMEX in collaboration with another industry leader, Sprott, OneGold is created to provide a modern, secure, and cost-efficient means of precious metals ownership. This initiative offers all APMEX investors access to an extensive range of precious metals stored with renowned vaulting providers such as Loomis International, Royal Canadian Mint, and APMEX.
Still unsure what OneGold is? OneGold, like an ETF, allows you to profit from increases in gold and silver prices without physically holding the inventory. However, it is not entirely comparable to ETFs, particularly in terms of storage fees.
Management fees for many ETFs range between 40 and 60 basis points each year. OneGold only charges a minimal storage fee of 12 basis points for gold and 30 basis points for silver annually. This makes the digital possession of precious metals more cost-effective and with lower spread compared to costs involved in the physical possession of the same assets.
One disadvantage of investing in precious metals is the inability to automatically purchase assets when the price reaches a certain level. This prevents investors from investing in precious metals at the lowest rates.
However, with APMEX's AutoInvest feature, they allow periodic purchases to be made, which can be set at weekly, bimonthly, monthly, or quarterly schedules. This simplifies the investment procedure and enables investors to benefit from frequent investing regardless of market swings. As a unique feature that you won't find at many other top players in the industry, this is another reason that makes APMEX an ideal investment partner.
To ensure secure asset storage for its investors, APMEX partners with Citadel Global Depository Services, Inc. Citadel is a company that offers high-security storage for your precious metals. They have a private storage facility located within the secure facilities of Brink's - one of the world's premier security corporations.
Your assets are not only securely stored at Citadel but are also protected by Brink's, the industry's most trusted name. What makes this storage facility more interesting is the additional services and benefits it offers to APMEX customers, including:
- Low Shipping Prices: There are no additional shipping expenses when sending your purchased assets to Citadel for APMEX orders over $500. However, there is a $9.95 shipping cost when your APMEX orders under $500 are delivered to Citadel.
- Management Tools: Citadel customers enjoy real-time transaction data and up-to-date inventory valuation.
- Insurance: Your products are fully insured when being allocated and divided. You can rest assured that all your assets stored at Citadel are safe against theft, damage, or physical loss.
- Personalized Delivery: You can always take custody of your precious metals whenever possible.
- Low Annual Fees: Mostly, precious metals storage options cost up to 150 basis points. However, Citadel's expenses are only 55 basis points (0.55%), about the same as an ETF's management fees. Not only do you access the best security, but also affordability when storing your assets at Citadel.
- Independent Examinations: A big national independent accounting firm audits Citadel accounts randomly, ensuring there are no legal concerns to worry about when entrusting the company with your assets.
APMEX offers a praiseworthy shipping service, with free shipping for purchases of more than $199. However, it is worth noting that the company charges a $9.95 delivery cost on orders under $199.
Orders from APMEX are dispatched via Registered/Insured US Mail and UPS, which take on average 1-10 business days to arrive, depending on your chosen payment method. While this may sound like a standard shipping approach, there is a special consideration for those who choose to purchase using a debit card, as they can access the QuickShip® Program.
This program provides next-day processing for domestic purchases, and most debit card orders (with some exclusions dependent on order contents) qualify for this.
As I further explored the services offered by APMEX, I also came across a dedicated shopping app. Unlike most precious metals investment companies I have used over the years, this app best portrayed APMEX's dedication to providing clients with digital investment solutions in precious metals.
Launched on Google Play in 2017, APMEX's app allows clients to access precious metals' spot prices, make purchases, manage their portfolios, and explore the most recent market trends. This app has everything from allowing you to invest on the go to featuring tools and notifications to help you stay up-to-date with the company's latest offerings.
During my decades of investing, I have come across many companies that are not transparent about the fees they charge their clients. The great thing is that APMEX isn't one of those. APMEX solely charges for shipping, handling, and insurance. Moreover, all domestic orders over $199 and all Citadel orders over $500 receive free shipping.
Another excellent factor is their emphasis on fee transparency. APMEX sends you a confirmation email once you place an order. This explains what is included in the order and the prices are locked as soon as you place the order, either over the phone or online.
Above all, you also get a 4.0% discount when you pay for your order by check, eCheck, or bank transfer. However, it’s worth noting that the prices mentioned on their website already include this discount.
Is APMEX Trustworthy?
As an experienced investor, I can safely say that APMEX firmly owns its reputation as one of the most respectable and dependable precious metal exchanges.
Operating for over 20 years and offering a wide range of precious metals asset categories and services demonstrate why APMEX is trusted in the industry. All this comes with the company's professional team of numismatists who are experts in coins, paper currency, and precious metals. This means you're getting the best investment options from industry professionals.
APMEX Rating On Consumer Sites
Consumer Protection Agency
Number of Reviews
Complaints in Past 12 Months
Better Business Bureau (BBB)
Business Consumer Alliance
451 reviews that are below 4-star
24 reviews that are below 4-star
While APMEX is rated highly on Better Business Bureau and Consumer Affairs, there are some concerns about the negative reviews on TrustPilot, and a poor rating on Business Consumer Alliance.
In my personal experience, I haven't encountered anything that warrants a complaint or negative review. However, if you are concerned, you can consider other precious metals companies that have higher consumer ratings. See my article on the best precious metal companies.
Pros & Cons
With the auto-invest feature, a convenient app, wide range of precious metals, secure storage facility, low shipping charges, a rewards credit card, and so much more, it's easy to see why APMEX stands out.
While there are some negative aspects of investing in the company, such as limited contact options and higher costs for certain payment methods, it is up to you to decide whether the benefits outweigh the downsides.
If you are looking for more options, you can read my article on the best precious metals companies, to find the best fit for you.
Frequently Asked Questions
APMEX does not have minimum investment criteria. However, for orders under $199 there is a $9.95 shipping fee.
Yes, it does. While the company does not have its own storage vault, it allows customers to store their precious metals at a subsidiary company, Citadel Global Depository Services, Inc.
APMEX accepts payments through the following:
Debit card (excluding prepaid cards)
Cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC), Shiba Inu (SHIB), ApeCoin (APE), Polygon (MATIC)
5 USD-pegged stablecoins: GUSD, USDC, USDP, DAI, and BUSD.
Circle Euro Coin (EUROC), which is a stablecoin backed by the Euro