American Precious Metals Exchange Review

August 5, 2023
Written by Peter Anderson

If you're in the market for precious metals, you've likely come across American Precious Metals Exchange (APMEX).

With a wide range of products and services, APMEX has established itself as a leading e-commerce retailer since its founding in 2000.

Offering gold, silver, platinum, and palladium coins and bars in various weights, including rare and special-edition pieces, APMEX caters to both investors and collectors alike. They also provide storage options, investment vehicles, and even the ability to set up a precious metals IRA.

However, it's important to note that some customers have experienced delays in delivery and felt shortchanged when selling their metals. While APMEX has garnered positive ratings from organizations like the Better Business Bureau, concerns regarding pricing during sales and offers for generic silver have been raised.

In this article, we'll delve into the pros and cons of using APMEX as your go-to precious metals provider.

Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback. 

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What is American Precious Metals Exchange?

APMEX, also known as the American Precious Metals Exchange, is not just an ordinary online store - it's a comprehensive platform that offers a wide range of precious metals products, investment options, and services for both investors and collectors.

APMEX provides numerous benefits to its customers, including a vast selection of gold, silver, platinum, and palladium coins and bars in various weights. It also offers special-edition coins from different countries and time periods, making it an attractive option for numismatists and collectors.

In addition to its extensive product offerings, APMEX is known for its knowledgeable customer service representatives who can provide expert guidance on purchasing decisions. But, some customers have expressed concerns about pricing during sales and generic silver offers.

When it comes to delivery times, APMEX has received mixed feedback from customers. While some have reported late deliveries, others have been satisfied with prompt shipping.

It's important to note that all canceled orders on APMEX incur a $35 fee.

APMEX aims to provide a seamless experience for buying and selling precious metals. Its wide range of products, investment options, and knowledgeable customer service representatives make it a popular choice among investors and collectors alike.

Pros and Cons of American Precious Metals Exchange

When it comes to weighing the benefits and drawbacks of APMEX, you'll find a wide range of options from physical products to storage services and investment vehicles.

APMEX offers an extremely diverse selection that caters to different precious metals needs. Whether you're looking to buy coins or bars in gold, silver, platinum, or palladium, APMEX has you covered.

They also offer 'junk silver' coins and old bank notes for collectors.

  • One of the major advantages of APMEX is that precious metals bought through them are IRA-eligible. 

Setting up a precious metals IRA with APMEX is easy and allows investors to include these assets in their retirement savings strategy.

  • APMEX provides various automatic investing options for those who want a hassle-free approach to building their precious metals portfolio.

While APMEX offers a wide variety of products and services, there are some downsides worth mentioning.

Some customers have reported higher shipping and storage costs compared to other platforms. In addition, there have been complaints about late delivery times which may require patience when ordering from APMEX.

However, one area where APMEX shines is customer service quality.

They have knowledgeable representatives who can assist customers with their inquiries and provide guidance throughout the buying process. APMEX has created a community where customers can engage with each other and share their experiences.

When considering the pros and cons of American Precious Metals Exchange (APMEX), it's important to take into account factors such as pricing comparisons, delivery times, customer service quality, and personal experiences in order to make an informed decision about whether or not this platform aligns with your specific needs and preferences.

Company History

Imagine discovering that a small collection of coins inherited from your grandparents is worth over $100,000 - that's exactly how APMEX's founder Scott Thomas began his journey into the world of precious metals.

Starting with buying and selling old coins on eBay, Thomas gradually expanded his operations and eventually created an e-commerce platform in 2004.

Since then, APMEX has experienced significant company growth and now employs over 200 people while offering a wide range of more than 20,000 precious metals products.

One notable aspect of APMEX's offerings is their selection of rare coins. They provide collectors with access to unique and valuable pieces like Morgan Silver Dollars and even ancient Roman Empire coins.

APMEX offers various investment vehicles for customers looking to diversify their portfolios beyond physical metals. These include storage services provided by licensed depositories like Citadel, as well as OneGold—a trading platform for paper metal equivalents to ETFs.

APMEX has come a long way since its humble beginnings on eBay. With its extensive product range, including rare coins and investment vehicles, along with its commitment to customer service quality, it continues to be a prominent player in the precious metals market.

Buying and Selling Precious Metals

With a wide selection of precious metals products and various investment vehicles, APMEX is the ultimate destination for those looking to diversify their portfolios. APMEX offers a vast array of gold, silver, platinum, and palladium coins and bars, catering to different weights and purities.

Their inventory includes 1 oz. coins as well as 1/2 oz. and 1/4 oz. coins, while bars range from 1 oz. to 100 oz. in weight.

One notable category at APMEX is 'junk silver,' which refers to old silver coins minted in the US before 1965.

These coins contain varying amounts of silver content ranging from 40% to 90%. APMEX sells coins from different countries and time periods, including special-edition coins featuring popular brands or characters.

When it comes to buying precious metals on APMEX, market trends play an important role in determining prices.

While pricing transparency has been a concern for some customers during sales events or when selling generic silver items, many individuals have had positive experiences with the company's pricing overall.

APMEX also provides IRA eligibility for their precious metals products, allowing investors to include these assets in their retirement portfolios. Delivery speed can vary depending on factors such as order volume and shipping location but generally ranges from 1 to 10 business days.

APMEX offers a diverse range of precious metals products with multiple investment options for customers seeking portfolio diversification.

Products for Numismatists

Explore APMEX's wide range of products designed specifically for numismatists and collectors, offering rare coins, special-edition pieces, and historical treasures. APMEX provides a vast selection of numismatic products that cater to the interests and passions of coin enthusiasts.

  • Rare coins: APMEX offers a diverse collection of rare coins, including highly sought-after pieces like Morgan Silver Dollars and Eisenhower Dollars. These coins hold historical significance and are cherished by collectors for their unique designs and limited availability.

  • Roman Empire coins: Delve into the ancient world with APMEX's selection of Roman Empire coins. These fascinating artifacts from antiquity allow collectors to own a piece of history and admire the craftsmanship of the past.

APMEX understands the value that collectors place on their numismatic treasures. When selling rare coins to APMEX, rest assured that your items will be evaluated by knowledgeable coin experts. 

These experts meticulously examine each coin to determine its value accurately.

Numismatists can indulge in their passion for collecting with confidence at APMEX. Whether you're searching for rare coins like Morgan Silver Dollars or looking to expand your collection with Roman Empire coins, APMEX offers a comprehensive range of numismatic products to satisfy every collector's desires.

Products for Investors

One of the standout features is their IRA options, which allow investors to set up tax-deferred retirement accounts and invest in precious metals. With a self-directed IRA, you have the flexibility to contribute as much money as you want and purchase the precious metals of your choice.

However, please note that APMEX requires a minimum investment of $2,000 when opening an IRA with them.

For those who prefer a hands-off approach, APMEX provides automatic investing options.

Through their AutoInvest feature, you can schedule regular investments in precious metals at intervals that suit your needs - weekly, biweekly, monthly or quarterly. This convenient service ensures that you continue to build your precious metals portfolio regardless of short-term price fluctuations.

APMEX also prides itself on its knowledgeable customer service representatives and vibrant community. Whether you have questions about specific products or need assistance with your investment strategy, their dedicated team is there to help.

And, they foster a supportive community where like-minded individuals can share insights and experiences related to precious metal investments.

It's important to be aware that all canceled orders on APMEX incur a $35 fee. While this policy may be disappointing for some customers, it's essential for managing inventory and ensuring fair transactions for all parties involved.

Storage Options

APMEX offers secure storage options for customers to safeguard their valuable precious metals investments. With the option to store their metals with Citadel, a licensed depository managed and guarded by Brink's, customers can have peace of mind knowing that their assets are protected.

Here are five key points about APMEX's storage options:

  • Storage fees: APMEX charges a minimum storage fee of $15 per month. The fee is calculated based on the total value of the portfolio, ranging from 0.55% for portfolios valued between $25,000 and $1,000,000 down to 0.45% for portfolios valued over $10,000,000.
  • Licensed depository: Citadel is APMEX's chosen partner for storing precious metals. Being a licensed depository adds an extra layer of security and ensures that industry standards are met.
  • APMEX Bullion Card: A unique offering from APMEX is the APMEX Bullion Card. This Visa credit card allows customers to earn rewards points on their purchases and can be used as a convenient payment method for storage fees.
  • AutoInvest feature: For customers looking to regularly invest in precious metals, APMEX offers an AutoInvest feature. This allows investors to set up automatic investments at regular intervals without having to manually place orders.
  • Delivery time: When it comes to receiving physical products or withdrawing stored metals, delivery times can vary depending on the location and shipping method chosen. It's important for customers to consider this factor when planning their investment strategies.

Providing reliable storage options along with other convenient features like the APMEX Bullion Card and AutoInvest feature, APMEX aims to cater to the diverse needs of its customers while ensuring the safety and security of their precious metals investments.

Payment Methods, Fees, Taxes, and Shipping Rates

Get ready to secure your precious metals investments with APMEX's convenient payment methods, reasonable fees, transparent tax policies, and reliable shipping rates.

APMEX accepts various payment methods, including bank wire transfers, checks, PayPal, credit cards, and cryptocurrencies through BitPay.

If you choose to pay with a credit card, there is an additional 4% fee unless you use APMEX's Bullion Card. This card allows you to earn rewards points for purchases without the extra fee.

APMEX also accepts Bitcoin, Bitcoin Cash, and Ethereum through BitPay with a 3.0% discount.

When it comes to sales tax implications, the amount will vary depending on the jurisdiction your order is being shipped to within the United States.

Taxes on orders shipped within the US are automatically paid as part of your order.

For international shipping rates, costs will vary based on the destination.

Once payment is received for your order at APMEX, delivery can take anywhere from 1 to 10 business days. Orders valued at $60,000 or less are fully insured for added peace of mind.

APMEX offers a range of accepted payment methods and provides cost transparency when it comes to fees and taxes. Their shipping rates are reliable, and delivery times are reasonable.

Choosing APMEX for your precious metals investments, you can have confidence in their secure and efficient processes.

Ratings and Comparisons to Alternatives

Discover the unrivaled excellence and superiority of APMEX's ratings and comparisons to its competitors. APMEX has consistently received high ratings from reputable business review organizations, such as the Better Business Bureau and Business Consumer Alliance, Inc.

With an A+ rating from the Better Business Bureau and a AAA rating from Business Consumer Alliance, Inc., APMEX's commitment to customer satisfaction is evident.

In comparison to other precious metals retailers like JM Bullion, APMEX stands out with its wide range of physical metals products and investment services. While JM Bullion may have lower fees, APMEX offers a more extensive selection for customers looking for various options.

APMEX also ensures trustworthiness and reliability in its operations. The company has established itself as a reputable player in the industry with over 20 years of experience since its founding in 2000.

This longevity speaks volumes about their dedication to providing quality products and services.

While no company is without flaws, customer complaints regarding APMEX are relatively minimal compared to its overall customer base.

However, it's worth noting that some customers have raised concerns about pricing during sales events. Nevertheless, APMEX has shown commitment to addressing these issues promptly through their knowledgeable customer service representatives.

APMEX's exceptional ratings highlight their commitment to customer satisfaction and reliability in the precious metals market. Despite occasional complaints about pricing during sales events, their extensive product offerings and trusted reputation make them a top choice for investors seeking gold, silver, platinum, or palladium products.


APMEX is a reputable e-commerce retailer that offers a wide range of precious metals products.

They have an extensive selection and knowledgeable customer service representatives, catering to both investors and collectors. However, there have been some customer complaints regarding late delivery and potential discrepancies when selling metals.

Despite these concerns, APMEX has high ratings from organizations like the Better Business Bureau.

They also offer additional services such as storage options and setting up a precious metals IRA.

It's important for customers to be aware of the potential delays in order delivery. But overall, APMEX provides a valuable platform for purchasing precious metals.

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