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If you're looking for a place to buy precious metals, then APMEX is a decent choice. The company offers a wide selection of gold, silver, and platinum products at competitive prices.
You can find needed from bullion bars and coins to rounds and ingots with just a few clicks. With so many options available, it's hard not to get overwhelmed when you first visit the site.
However, some tools make the process easier, such as an interactive design where you can see how much each piece will cost in your local currency (USD) before buying it, which made us feel more confident about our purchasing decision.
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Table of Contents
Opening an APMEX Gold IRAAPMEX Gold IRA Costs APMEX Products and Services How to Buy Precious Metals from APMEX
Gold Shipping and Storage with APMEXAPMEX Complaints APMEX FAQ Conclusion
Now on with the review...
APMEX is the leading online dealer in precious metals since the year 1999, takes pride in a high level of customer service and satisfaction.
Their customer service team is available 24/24, 365 days a year, to help with any questions or concerns that you may have about your purchase. You can contact them through email, phone, and even live chat.
Opening an APMEX Gold IRA
If you're interested in buying precious metals but don't want to deal with the hassle of storing them yourself, then opening an APMEX Gold IRA might be a good option for you.
The company offers full-service gold IRAs that come with a wide selection of products and competitive prices.
APMEX specializes in precious metals and has been in business since the year 1999. However, they also offer great help in opening a Gold IRA account. The company's sales representatives are the ones to reach out to for assistance.
They will help you with the paperwork and take care of the transfer fees so that you can start investing in precious metals right away. The representatives of the department will take you through these steps.
Opening a Dedicated Custodian Account APMEX has an account with a dedicated custodian that will store your precious metals. Different depository companies offer different fee structures for holding the physical precious metals.
Transferring IRA Assets to APMEX Once you have opened a new account, the company will help you transfer your retirement funds into it. This process can take up to three months, and some fees may apply.
Selecting and Purchasing IRA-Approved Metals The company will help you select which metals are right for your account, and the process of purchasing them takes only a few minutes.
The process provided by APMEX makes it easy for you to make IRA-approved products purchases. All you have to do is choose the type of precious metal that you want to invest in and wait for it to arrive at your doorstep.
APMEX Gold IRA Costs
APMEX does not charge any fees when opening a gold IRA account. The process of transferring funds into the dedicated APMEX custodian can take up to three months.
The company charges $110 for every IRA transfer, which may sound high for some customers. However, they do not charge this fee if you use an electronic check or bank wire.
You do not have to pay any fees for buying precious metals, but the company charges $35 per precious metal purchase. These charges are very low compared to other companies that offer similar services.
The prices fluctuate based on the current market price of the metals. The market volatility also affects the prices of the metals, so be careful when you place your order.
APMEX Products and Services
APMEX is a premier precious metal retailer that has been around for almost two decades. The company offers a wide selection of products, so it's easy to find what you're looking for, whether you want to invest in gold or silver or both.
The company has an extensive range of items you can choose from. They specialize in the following:
Gold Bars and Rounds
You can find an extensive range of gold bars and rounds on the APMEX website. The company sells all of these items, which are IRA-approved, such as:
APMEX has these products, which are IRA-approved, platinum bars that range: from 1 g to 100 oz.
You can also find platinum rounds that come in weights of one troy ounce, ¼ oz, ½ oz, and 1 oz.
Silver Bars and Rounds
The company sells limited editions and commemorative silver bars and rounds.
You can find items such as the Walking Liberty, Morgan Dollar, 1 oz American Eagle, etc.
These items are IRA-approved along with all other U.S. Mint products.
Gold Coins
APMEX has a broad selection of gold coins that you can choose to invest in.
Some of the items include the Austrian Philharmonic, American Eagle, 1 oz South African Krugerrand, etc. All these are IRA-approved products.
Other Products
APMEX also sells an extensive range of other precious metal products that are IRA-approved.
They have ancient coins that you can collect and invest in, along with other coins and bars that you can purchase.
How to Buy Precious Metals from APMEX
Opening an order is very easy once you've set up your IRA account with APMEX. Browse through the different sub-categories on the website to find items of interest.
You can purchase these products by adding them to your shopping cart and following the payment process. The company accepts credit cards, electronic checks, and bank wire transfers.
Choose your payment method and fund your account. Once the funds have cleared, the company will process and ship your order within one business day.
Gold Shipping and Storage with APMEX
The company ships your order within one business day of the funds clearing. APMEX uses fully insured shipping methods with each purchase, so you don't have to worry about losing your investment in any way.
All purchases come with an insurance policy of up to $25,000 against damage or loss during transit, so you can relax knowing that your products are in good hands.
The company provides you with a tracking number for your records and lets you know when they receive the items.
Shipping charges vary depending on the weight of the products and the location to which they will be shipped. The company ships orders daily from Monday to Friday (except weekends and holidays).
If placed before 1 pm CST, an order will ship the same day. Orders placed after 1 pm CST will be shipped the next business day.
APMEX Complaints
APMEX has received an average rating of 3.5 stars out of 5 on Trustpilot and 3/4 stars on ConsumerAffairs.
Negative reviews pertain to the following issues:
Positive reviews were given to the company for the following strengths:
APMEX FAQ
Do you offer a Price Match Guarantee?
The company offers a low price guarantee that ensures that you will not be overcharged. If you find any product with the same specifications on another website for less than APMEX offers, they will match the prices.
What payment options does APMEX accept?
APMEX accepts credit cards, electronic checks, and bank wire transfers.
Is it possible to trade precious metals on APMEX?
Yes, it is.
APMEX also offers an online trading platform that enables you to buy and sell the items that are currently in your cart. It is highly secure and allows you to set the amount of money for each transaction (bid/ask), manage orders, track prices, etc.
What are the difference between a precious metals IRA and a precious metals mutual fund when it comes to investing in precious metals?
A precious metals IRA is a Self-Directed IRA that allows investments in physical metal objects such as Gold, Silver, and Platinum coins and bars. These items are purchased directly from the United States Mint or a privately owned company.
Precious metals mutual funds, on the other hand, invest in a basket of stocks related to the gold mining industry. They are not physical items, but rather stocks that are traded on the stock market.
Is there a fee for IRA accounts?
No fees are charged when you set up an IRA account with APMEX. Any fees will be incurred after your initial purchase of precious metals. Fees may include storage fees, transfer fees, etc.
When purchasing, make sure to inquire about fees if they apply.
Is it possible to buy investment silver without setting up an IRA account?
Yes, it is.
The company allows its customers to make purchases online or by phone with a valid credit card. Not having an IRA does not affect the current prices, so you can still get the latest market rates.
Is there ever a sale or promotion at APMEX?
APMEX is known to have frequent promotional periods where you can get better deals on the products. Make sure to check out the website for any current promotions and discounts before making a purchase.
What is the difference between buying and selling with APMEX?
When you purchase products, you are paying for the intrinsic value of gold or silver plus any numismatic value added by the company. When you sell your products, you take advantage of the current spot price plus the numismatic value.
If you have any questions about your investments or products, customer service representatives can assist you.
Pros
Cons
Just like any other business, dealing with precious metal IRAs is risky. Consumers ought to keep this in mind and make sure they know what to expect from an IRA custodian.
Understanding the regulations and fees exonerates the consumer from any wrongdoing and miscommunication.
ConclusionWhile there are other companies in the precious metal industry, APMEX is a good choice for your precious metal IRA. They have competitive prices and an interactive website to make your shopping experience stress-free.
The minimalistic design makes it easy to find what you're looking for, while the 24/7 customer service will answer any questions you have.
To learn more about APMEX, you can visit their website by clicking on the link at the bottom of the page.
APMEX is an ok company, they are not a scam, but they are not the best choice like other companies we have written about on this website.
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