Is it? Your question we be answered comprehensively in this APMEX review. Well, have you been searching for legitimate precious metals companies? If so, you might also have been asking yourself: is APMEX a scam or fraud? Are their any APMEX complaints online? Here, we’ll look at customer reviews to unearth the truth.
Firstly, let’s begin with the products offered at APMEX.
Table of Contents
- 1 Products Offered By APMEX
- 2 Is APMEX a Scam?
- 3 Is APMEX a Legitimate Company?
- 4 APMEX Customer Reviews and Ratings
- 5 APMEX Complaints
- 6 Advantages of Choosing APMEX
- 7 Great Reputation
- 8 User-friendly website
- 9 Multiple Products
- 10 Numerous Educational Resources
- 11 Awesome Customer Service
- 12 Multiple Payment Methods
- 13 Worldwide Operations
- 14 24/7/365 Shopping
- 15 Disadvantages of Choosing APMEX
- 16 Problems With Product Delivery
- 17 Too Many Complaints
- 18 IS there a Better Alternative?
- 19 Frequently Asked Questions
- 20 Is APMEX Safe?
- 21 How much does APMEX charge for shipping?
- 22 What does APMEX stand for?
- 23 Can I store my investment with APMEX
- 24 Conclusion
Products Offered By APMEX
Products on offer include silver, gold and platinum coins (most of which are IRA eligible). They also sell Mint bullion products e.g. Platinum Maple Leafs, Pre-1933 US Gold coins, Silver Eagles, Royal Canadian Mint, South African Krugerrand, etc.
Also available are gold, silver, platinum, palladium & copper (bars and rounds), jewelry and some rare products. The company offers gold and silver IRA services indirectly through custodians such as the New Direction IRA, Entrust Group and several others.
Is APMEX a Scam?
American Precious Metals Exchange is an American corporation that deals with precious metals. The company was registered on 31st December 1999 and began operations a month later.
Since then, APMEX has grown to be the world’s biggest precious metals dealer with a diverse range of clients including banks, brokerage houses and individuals. It boasts a mammoth collection of products ranging from common bullion bars Mint products to rare items such as silver hearts, silver bullets and a vast selection of jewelry items. Thus, APMEX is obviously a legitimate company, and not a scam.
Is APMEX a Legitimate Company?
As we’ve mentioned, APMEX is one of the oldest and biggest companies. They are a reputable company with many years of experience and great products. Whether you are looking for collectibles or IRA-approved metals, APMEX will always have them. The only issue is that they are not an precious metals IRA custodian, and this means that you need to look elsewhere if you are after Gold IRAs. You may want to look at our top-rated Gold IRA company here.
APMEX Customer Reviews and Ratings
APMEX has a rating of A+ , 181 customer reviews and 55 complaints on the Better Business Bureau.
They have an AAA rating on BCA, and a 5 star rating with TrustLink based on only 2 customer reviews.
On Facebook, they have a rating of 4.4 out of 5 stars after 782 reviews, while on Consummeraffairs they have a 3/5 rating based on 135 reviews. Below are some of the reviews screenshots:
We’ve discovered that this company has many complaints and they do not make an effort to respond to them. For instance, on ComplaintsBoard, there are 6 complaints by verified customers. All of them decry poor customer service, deceptive advertising tactics, arrogance and unscrupulous charging of cancellation fees. On this particular platform, they’ve received a 2-star rating from 6 complaints. Here is the summary of the complaints:
- Arrogant customer care staff
- Unscrupulous charging of cancellation fees even when you did not cancel an order
- Deceptive advertising practices
- Fraudulent listing practices
- Extremely slow shipping
Despite this, American Precious Metals Exchange still boasts an A+ rating with the BBB and and AAA rating with the BCA. They also have positive customer reviews on several platforms. Thus, APMEX has both advantages and disadvantages discussed below:
Advantages of Choosing APMEX
With 20 years in business, APMEX is an established brand that commands lots of trust and respect, globally. Also, it is one of the biggest precious metals corporations in the US and commands a massive market share.
While compiling this APMEX review, we also noted that their website is designed to give the customer all the information at a glance.
A neatly designed theme and awesome navigation enables a buyer to click through the website with ease and access the products catalog and checkout pages. On the homepage, you will find up-to-date data such as live price charts, spot prices and all other information that is deemed relevant to both newbie and veteran investors.
There is also an ‘Education’ section where you’ll find a useful investment guide and blog posts to constantly update you on current market ups and downs. The ‘Deals’ section contains lucrative offers and discounts that you can take advantage of and save hundreds of bucks.
It is no secret that APMEX is one of those dealers with a giant list of products, ranging from the most common precious metals bars to coins to jewelry and even some unique items seldom seen on the global market.
Numerous Educational Resources
They are not only interested in selling to you, they also have an interest in educating you about what you are about to buy. That’s why you’ll find detailed instructional videos and investment guides on their website.
Awesome Customer Service
Despite a few setbacks, the company strives to offer their customers exceptional services. There’s a phone number, live chat and an email which you can use to keep in touch with account mangers and have any problem resolved.
Multiple Payment Methods
Multiple payment options for convenience which include Money Order, Check, Credit Card, Certified Check and Cashiers Check.
APMEX operates globally, and ships to at least 33 countries, unlike most other US precious metal companies that only serve local customers.
You can place your order at any time, on any day and it will be processed and shipped within 1 business day after you clear your payment.
Disadvantages of Choosing APMEX
Not a single company in the world is 100% perfect, and there will always be an issue popping up here and there, especially for established corporations with thousands of customers. This is especially true for APMEX, which, despite having all the above mentioned benefits also has its downsides.
Problems With Product Delivery
About 90% of the problems reported by customers are related to product delivery issues. Some clients have lost their orders on transit and the company in most cases will refuse to admit liability.
Too Many Complaints
Too many customer complaints are a red flag and you should always look for a company with close to zero complaints to be on the safe side. We discovered numerous complaints against APMEX across multiple online platforms.
IS there a Better Alternative?
Even though APMEX is legit, our review unearthed some weaknesses stemming from poor customer service, which has led to numerous customer complaints.
Such information has greatly dented the company’s image, despite the many years of service and the brand they have built over the years.
Frequently Asked Questions
Is APMEX Safe?
APMEX is safe; the only downside is the numerous complaints by customers who condemn what they term as “shoddy” customer service by the company.
How much does APMEX charge for shipping?
APMEX charges a fee of $9.99 for orders under $99. They offer free shipping on orders above $99 (for domestic clients only).
What does APMEX stand for?
APMEX stands for American Precious Metals Exchange.
Can I store my investment with APMEX
The company doesn’t have a storage vault but use the services of their subsidiary company (Citadel Global Depository Services, Inc.) to store your investment assets for you.
We’ve reached the end of our APMEX Review, where we’ve looked at customer reviews and complaints. While conducting your personal research, you may have come across other complaints that we haven’t mentioned in this review.
Most of these complaints arise from poor customer service by this company. This is not unique to APMEX. Most companies that deal with multiple products will have issues with shipments and other things. The best action to take is to find a company that specializes with whatever your are looking for. For instance if looking for a Gold IRA company, Regal Assets is a known specialist in this field. You can read our Regal Assets Review here.
There are numerous review sites and directories out there that have really awful reviews and complaints, but you don’t have to give up on a company by merely looking at the negative reviews.
You should dig deeply, compare both sides of the story–both the customer complaints and reviews. By conducting an unbiased research, you’ll be in a position to find the best precious metals company and make an informed investment decision.
Also Read: Top 10 Gold IRA Companies In 2021