Precious metals transactions have always been special because it is important to protect both the buyer and the seller. This is also to make sure that someone doesn’t try and trick someone by giving them a lesser metal and calling it gold or silver.
People have always been afraid that someone might steal valuable substances from them. This is why people who mined and transported these metals hired guards with spears, crossbows, or muskets to protect them. Goldsmiths also fortified their homes for protection. People relied on market weighers to ensure that the bullion coins used in transactions were real.
It is critical to protect oneself from such scammers and counterfeiters by purchasing silver from solid, trusted suppliers as much as possible. It might be tough to determine which services are reputable and which are “shaky.” However, it is important to do your research to find the most reputable and honest sources.
APMEX, or American Precious Metals Exchange, is a company that sells coins and other silver products. They have a lot of different silver products from many different countries.
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APMEX’s Credentials and Professionalism
Not everyone who is involved in the precious metals market has a lot of credentials. For example, many people who collect precious metals are very honest, and you can trust them. They might not have any official “blessing,” but that doesn’t mean they aren’t trustworthy.
Even though it’s not necessary, it can be helpful to have the background of your supplier checked out. If you’re buying in volume, this is especially true. APMEX, on the other hand, has a solid track record in the silver industry and can be relied upon.
APMEX is one of the firms chosen by the U.S. Mint to purchase and distribute its annual production of Silver Eagles and five-ounce silver America the Beautiful quarters. This is a good thing because a very rigorous process is undertaken before the Treasury will trust a private distributor with its silver bullion coinage. It is a testament to APMEX’s integrity, experience, and long history of trading silver that they can lay claim to this honor.
The Oklahoma firm is also a member of the Industry Council on Tangible Assets and the American Numismatic Association, both reputable precious metals organizations. They also work closely with several top grading services in the United States.
However, APMEX has many extremely satisfied customers who can attest to its quality beyond these professional recommendations.
Coins, Bars, and Rounds at APMEX
APMEX offers a large selection of coins, bars, and rounds. Depending on your budget and needs, you can buy anywhere from one coin to many hundreds. There is a $50 minimum order, but this is not too hard to reach if you buy a typical silver bullion coin.
APMEX offers a large selection of coins with over a thousand different kinds. You can order as few as two or three coins at a time. This makes it possible for people to buy silver coins gradually over time. As more and more people become interested in silver, its liquidity – the ease with which it can be bought and sold – will increase.
Some people who collect coins do not just collect small coins. They also collect large coins. If someone buys a lot of a certain kind of coin, they can get a good price that is cheaper than the regular price.
APMEX has a wide variety of coins. There are coins from the United States of America and other popular coins from all over the world. You can also find bars, rounds, and even some rare coins from rare countries.
APMEX offers a variety of coins, including official government coins, silver rounds, and bars, produced by different minting sources. Some popular but out-of-production silver rounds or bars are also available. APMEX’s prices are low compared to the spot price of silver, and they offer payment plans to make it easier to buy silver.
APMEX is a good company to buy coins and precious metal bullion from. They offer low premiums above the spot for many different coins and bars. Collectible coins will have a higher premium, but their prices are better than other companies for most items.
Silver rounds and silver bars have a lower premium price than coins. This is because the value of the silver is closer to the value of the raw bullion. The shipping charges are also reasonable, even internationally. However, there is a $1,500 minimum purchase for overseas orders. The silver will be shipped safely- in a plain box that looks like any other ordinary box that moves through the postal system.
APMEX is more flexible than other silver and gold suppliers regarding payment methods. They will accept credit cards, but you will need to pay a higher price for this service. If you use a credit card, you must additionally make a down payment on large orders. There is a greater risk that the order won’t be paid for if it’s done with plastic. Cashier’s checks and wire transfers are still accepted, of course.
They always charge a premium for silver and gold products; however, the company sometimes offers sales that reduce the premium price on certain items.
Other Services that APMEX Provides
APMEX offers several services for free on its website that are very helpful for people who invest in, buy, or collect precious metals. One example is charts that show the current spot price for gold, silver, platinum, and palladium. These charts also show the direction of change (up or down). You can also find up-to-the-minute market data on other metals with just a few clicks.
APMEX’s website provides thoughtful, up-to-date articles about events that could impact the silver, gold, and other precious metals markets. These articles cover everything from specific events in those markets to major economic problems, like the Greek credit crisis.
They have a lot of ways for their customers to stay up to date on the prices of precious metals, like free apps for Android, iPhone, and Blackberry phones and market alerts. APMEX also has a phone line that can help you set up a Precious Metals IRA and other features that show they are willing to go the extra mile for their customers. This demonstrates that they value their customers.
APMEX has a toll-free number that you can call to get information about your orders. The company also provides precious metal advice and information on its website. You can access the webpage 24 hours a day, seven days a week, if your work schedule prevents you from calling or visiting the office during normal business hours.
APMEX is one of the greatest sites to buy gold, silver, and precious metals. You can find them no matter where you are or how much money you have to spend.
They have a wide selection of silver coins, rounds, and bars. They also have fast service and detailed information on their website. As a result, they are a great choice for anyone wishing to purchase silver.
What Benefits Does APMEX Provide?
The fact that APMEX is a well-organized website is one of the reasons we recommend it to newcomers. It’s divided into four categories: gold, silver, platinum & palladium, and collectibles, with each category further divided into product types (bars and rounds or coins).
We also like that APMEX has a lot of tools that make investing in assets that can be hard for the typical investor is a lot easier. When investing in real assets, you must consider factors such as transportation and storage. It is often more difficult to invest periodically or keep track of your portfolio.
APMEX, thankfully, has answers for all of these issues and more. Here’s a closer look at the services provided by the organization.
If you intend to take physical ownership of the assets you purchase on APMEX, you shouldn’t have to wait long for them to arrive.
APMEX’s QuickShip program guarantees that all eligible orders will be shipped the next business day after receiving payment. When payment is received before 4 p.m., APMEX Club members receive the same-day shipment of QuickShip-eligible goods (Monday – Friday).
Your order must total at least $200 ($500 for Citadel orders) to qualify for free domestic shipping from APMEX. Smaller orders will be charged $9.95 in shipping.
Don’t know where to keep your APMEX goal or silver? It isn’t a problem in the least. Citadel Global Depository Services, a branch of the company, may be able to help you with this.
Brink manages Citadel storage facilities, fully insured against theft, loss, and damage. Storage fees are minimal, and you can have your precious metals delivered on-demand at any time.
It’s simple to set up a timetable of automatic recurring purchases when investing in stock market assets. This saves you time and makes dollar-cost averaging simple to execute.
Historically, it hasn’t been as simple to invest in precious metals automatically. APMEX, on the other hand, has been working to change that. It will enable you to set up recurrent purchases for various precious metals.
Customers can currently set up AutoInvest schedules daily, weekly, biweekly, monthly, or quarterly. Any products with a “Start AutoInvest” option above the “Add to Cart” button can have recurring purchase schedules set up.
To be qualified for an IRA, a precious metals product must meet specific criteria. Gold, for example, must be.995 fine (except the American Gold Eagle), and silver must be. A 999 fine.
APMEX’s platform contains a huge variety of IRA-eligible items, and it’s simple to narrow down your search results to only those IRA-approved assets.
APMEX does not allow you to open an IRA. The Entrust Group, Goldstar Trust, Kingdom Trust Company, STRATA Trust Company, and Equity Institutional have preferred Precious Metal IRA custodians listed.
After making their second transaction on the platform or purchasing or selling $5,000, buyers become APMEX Club members. APMEX Club Tiers are divided into four categories. Here’s a rundown of what they are and how to get them.
- Choose between completing 2-5 orders or spending or selling $5,000.
- Premier: Complete 6-9 orders or spend or sell $10,000 or more.
- Elite: Complete 10 or more orders or spend or sell $10,000.
- Only VIPs are invited.
Members can have faster shipping, unique deals, access to flash sales, anniversary presents, and other benefits. An APMEX Club membership is free, and once you achieve a certain rank, you’ll stay there indefinitely.
Resources & Tools
Customers who want to ensure that they never miss out on a wonderful chance can use APMEX’s two alert options. These are the following:
- Custom Spot Price Alerts: Get notified when a product hits the price you want to pay for it.
- AlertMe: Get notified when a previously out-of-stock item becomes available.
A useful precious metals portfolio tool is also available. It helps you keep track of the value of all of your precious metal assets in one spot.
You may follow all of your precious metal assets in APMEX’s portfolio tracker, including those you bought from another dealer. You can also enter the prices you initially paid to get real-time updates on your profits and losses.
APMEX, unlike several bullion sites, allows you to return products after you’ve purchased them. You’ll have seven days from the time you get an item to return it for a refund.
If the item you’re returning loses value, you could have to pay a “market loss” fee to get it restocked. You won’t be able to get any of your shipping or handling costs back.
Most investors will not take advantage of APMEX’s return policy. However, having the alternative in your back pocket is still useful.
The APMEX platform accepts BitPay as a payment method throughout the checkout process. This means you could buy precious metals on the marketplace with your crypto assets. Customers of APMEX can currently purchase things using the cryptocurrencies Bitcoin, Bitcoin Cash, Ethereum, and Dogecoin.
Sell To APMEX
Do you have any gold or silver you’d like to sell? APMEX, as one of the leading buyers of bullion and other precious metal goods in the United States, may also assist.
APMEX pledges to pay you for the products you sell the next business day after it gets them, thanks to its 1-day guarantee. Its logistics staff also offers quick, simple, and low-cost shipping.
It’s worth noting that APMEX has a $1,000 minimum transaction amount for purchase orders. You can get a quote at any moment by filling out an online form. However, if you want to lock in your price, contact 800-514-6318.
Are There Other Fees?
According to APMEX, there are no costs associated with the spot rates shown on its platform. However, these prices include a 4% reduction for paying by check or wire transfer. If you pay with a different method (credit card, PayPal, or BitPay), the 4% discount is lost.
The phrase “discount removal” is a clever way of indicating that APMEX imposes a 4% transaction fee for using those payment methods to acquire merchandise. In addition to this potential tax, regular orders under $200 and Citadel orders under $500 will be charged a $9.95 delivery fee.
If you use Citadel Storage, you’ll have to pay an annual storage cost. For portfolios worth up to $1 million, the cost is 0.55 percent, $0.50 percent for portfolios worth up to $10 million, and 0.45 percent for portfolios worth more than $10 million.
How Does APMEX Measure Up?
APMEX distinguishes itself from other precious metals dealers by providing various assets. For example, Bullion Vault only sells gold and silver. Glint and Vaulted, on the other hand, are both gold-only marketplaces. If you want to invest in platinum, palladium, or rare coins, APMEX is a good place to start.
However, most of its competitors charge transaction fees of 0.5 percent to 1.8 percent. Buy with a credit card, PayPal, or BitPay. You’ll pay APMEX a 4 percent transaction fee (via the discount reduction). You can avoid this fee by paying with a check or a bank transfer. However, APMEX does not accept ACH purchases, which are far more convenient and cost-effective.
Finally, it’s worth noting that APMEX doesn’t provide a mechanism for you to spend your gold on everyday transactions. If that’s something you’re interested in, Glint might be a better option. The Glint Mastercard® allows you to spend real gold like regular cash.
Read more: APMEX vs Money Metals Exchange: Compare Bullion Dealers
Frequently Asked Questions about Apmex Review
The advantages offered by Hard Assets Alliance are better than JM Bullion and APMEX, especially if you want to buy and store. However, even if you’re only looking to purchase precious metals for delivery, Hard Assets Alliance’s prices are still much more competitive.
APMEX is the largest online precious metals dealer in the world. They offer more than 10,000 products, so they have something for everyone.
Counterfeit coins often have casting seams that are very easy to see. They also might have hole markings. Additionally, many counterfeit coins will not have the same intricate designs or textures as real coins.
The term “bullion” is ordinarily used to describe bulk metal used in the production of coins. This type of metal is usually made up of precious metals such as gold and silver. The term comes from the Anglo-Norman term for a place where metal was melted down, which was earlier derived from French bouillon, meaning “boiling.”
The APMEX Silver converter can determine the Silver spot price in various currencies. This is useful if you do not live in a country where the currency is listed on our site. The converter considers quantity, purity, and unit of measure to calculate the price per ounce of Silver.
APMEX has a process to ensure that our customers receive only authentic Precious Metals products. The TEP packaging is your guarantee that these bars were processed right from mint-sealed boxes, just like they were delivered, so you can be sure when buying, holding, or selling them.
Unless required by law, APMEX is not required to record our sales transactions to the IRS or other federal, state, or municipal entities.
One way to tell if a silver or gold coin or bar is fake is by seeing if it is attracted to magnets. Silver and gold are not magnetic, so it is likely, not real if the coin or bar sticks to a magnet.
Silver rounds come from different mints, but the most common mints are private mints. APMEX has a variety of rounds, including fractional rounds, 1 oz rounds, and larger rounds.
Hong Kong is currently a cheap place to buy gold. The premium for Australian Nuggets, a type of gold coin, in Hong Kong is around $1,936 for a one-ounce gold coin.
Gold coins are more popular than gold bars because they have more sentimental value. Gold coins are historically and culturally significant, while gold bars are not as special. If you want to invest in something with more value, gold coins would be better than gold bars.
You can see them all together on the periodic table. They’re called gold (Au), silver (Ag), platinum, iridium (Ir), palladium (Pd), rhodium (Rh), and ruthenium (Ru).
Banks usually do not have silver dollars for sale. We are not talking about the US Mint Silver Eagle coins that have a face value of one dollar. However, you may not want to buy or sell at the bank even then because they charge more than bullion dealers do.
Gold coins, such as the Gold American Eagle, are a better investment for most people. This is because they are easy to trade and sell at higher prices than bars.
Buying junk silver is a good place to start if you’re new to silver investing. The lower premiums mean you can invest without taking on too much risk. If you decide it’s not for you, you haven’t lost much money.
The quality of Canadian coinage is world-renowned. People admire the design and the engraving on our coins. They are also impressed by the technical quality of our coins. Since the first commemorative coin was put on the market, investors have been talking about them.