Are you thinking seriously about investing in gold? Many people are these days and, if you’re one of them, you could quite possibly make a much more informed decision by taking a look at the following facts:
- Precious metals are among the best ways to protect yourself from inflation.
- Gold has intrinsic value, doesn’t bear any credit risk, and can’t be inflated.
- No more of it can simply be printed up the way paper currency is.
- Stocks tend to tumble while gold holds its own and keeps going up in value.
Protect against a stock market crash
When oil prices slip and the S&P is as far down as the Dow is off, gold simply looks better and better to all of the savvy investors worldwide. And, more often than not, they’re just as worried about a stock market crash as everybody else. Sound familiar?
Your retirement savings are best protected with gold, according to experts. So, who are you going to turn to when you decide that it’s time for you to turn to gold as your perfect solution to protect your retirement savings?
It’s important to remember that not all gold companies are worthy of your trust. That’s why it’s so important to be cautious about who you deal with when acquiring gold.
American Precious Metals Exchange (APMEX) is one precious metals company to consider for everything from purchasing gold coins and bars to investing in a gold IRA. So, that’s why it’s so important to be cautious about who you deal with when acquiring gold, and, to that end, here’s what we found.
What we think of APMEX in a few words
Company name: APMEX
BBB grade: A+
Summary: Our analysis of APMEX starts with the fact that it’s well-known for offering the largest selection of precious metals as well as some of the top customer service in the industry. With over 10,000 Gold, Silver, Platinum, and Palladium products, it’s one of the largest online Precious Metals retailers worldwide.
More than 2 million ounces of Gold and 94 million ounces of Silver have been sold at APMEX in the past ten years.
The customer satisfaction rate for this company is 98 percent and it enjoys an A+ rating with the Better Business Bureau (BBB). They appear to be quite committed to the success of their customers.
They also provide some excellent educational tools and resources specially designed for helping their customers to start gaining a better understanding of Precious Metals.
Our score: 4.5/5
Should you work with APMEX in 2024?
We understand how difficult it is to choose a reliable precious metals company to work with. For that reason, we created a list of gold IRA dealers that we think are best to avoid. Click on the button below to make sure APMEX isn’t one of them and discover our top 3 recommendations for this year.
APMEX was founded in 2000 and has its headquarters in Oklahoma City, OK. The company’s owner is Scott Thomas and its CEO is Kenneth Lewis. Their products range from silver to gold and palladium coins and bars.
They’ve sold more than 193 million oz of silver and gold to more than 1.3 Million Customers. And, they also have a number of highly-trained customer service reps who are standing by live to help you when you’re ready to acquire precious metals online.
This online bullion dealer also promises absolutely secure online shopping as well as 100 percent satisfaction.
Thousands of Americans have protected and diversified their wealth through Apmex precious metal IRAs and direct purchases of coins and bars. In fact, for thousands of years, gold has been a safe haven for investors. This might, of course, explain why the wealthy invest in gold so often.
If you decide to invest in gold or other precious metals from APMEX, the staff members can provide valuable information regarding your special interests and any concerns. And, many reputable sources have given APMEX a notable rating, including BBB, BCA, and TrustLink.
You can choose from a variety of payment options that are offered by APMEX, including:
- Bank wires
- Cashier’s checks
- Certified checks
- Credit cards
- Personal checks
We do recommend, however, that you pay via a wire transfer for any amount that is $2,500 or more. You should also note, however, that the minimum order cost in the U.S. is $50. And, Canadian orders must be at least $250, while orders from Europe and Australia must be at least $1,500.
Planning for your future with an APMEX IRA
A Precious Metals IRA is a great investment option, and APMEX can help you maximize it. Through their relationships with the industry’s leading custodians, they are able to provide you with exceptional service and expert advice. And, there are APMEX IRA specialists on hand to assist you every step of the way.
The IRS sets minimum fineness requirements for products to qualify for Precious Metals IRAs as follows:
- Gold must be at least .995 fine (except for American Gold Eagles).
- A minimum fineness of .999 is required for silver.
- There must be a minimum fineness of .9995 for Platinum and Palladium.
Popular products for IRAs
Some of the most popular products that are IRA-approved include a variety of all-time favorites such as:
- The American Gold Buffalo coin
- The American Silver Eagle coin
- The Australian Platinum Koala coin
- The Canadian Palladium Maple Leaf coin
- The Trusted bullion round or bar.
1. Start by opening your custodian account
You must keep your IRA Precious Metals in a custodian account according to IRS regulations. APMEX has a comprehensive list of trusted custodians that offer high-quality service, including The Entrust Group, Kingdom Trust Company, Strate Trust Company, and Equity Trust.
Any one of these Precious Metal IRA Custodians preferred by APMEX is ready, willing, and able to assist you with creating and maintaining your Precious Metals IRA.
2. Fund your account
Then you can fund the account, transfer an existing IRA, or roll over a former employer’s 401(k).
3. Obtain approved products
IRA-eligible products can then be acquired once your account is funded. And, if you choose APMEX, you can shop for IRA-approved products conveniently and easily.
The APMEX Reputation
Any company is only as good as its reputation, so here are some facts that we uncovered about AMPEX’s reputation overall:
Is APMEX a scam?
Or, is it actually legit? In addition to being legit, APMEX has proven itself one of the country’s most reliable precious metal exchanges over the last 20+ years. In fact, during our research, we discovered the fact that APMEX’s products are all vetted by a team of numismatists who specialize in everything from coins to precious metals, and paper currencies.
Are there any complaints about APMEX?
APMEX has been accredited since 4/29/2004 and has been in business for 23 years. The company’s BBB rating is A and they’ve had 110 total complaints during the past 3 years and 42 complaints that were closed over the last 12 months.
APMEX also has a 100 percent response rate with the BBB, which is very important because it helps you to know that any complaint you might have will not go unanswered. The majority of past complaints involved delivery issues whereas the remainder were for product issues, which were quickly addressed by the company.
The reviews on Trustpilot are not quite as glowing as those you’ll find on the BBB website. However, APMEX has 7,802 total reviews, and 88% are 5-star, 7% were 4-star, 2% were 2-star, and -1% were 1-star on Trustpilot.
How’s the APMEX customer support?
Overall, APMEX is known far and wide for its incomparable customer service. Their customer service department has served more than a million satisfied customers over the past twenty-three years. And, they’re proud to be one of the industry leaders in the field of Precious Metals.
For the most part, they deliver great customer service along with product variety. They‘re always striving to go above and beyond their customers ‘ expectations while offering the best possible service.
The APMEX return, refund, and/or exchange policy will only apply to those customers who notify the Customer Service Department via email at email@example.com, live chat, or telephone during the company’s normal business hours.
Returns also must be initiated within seven days from the date when that customer received the item and if it has been kept in its original condition.
Other APMEX benefits
The APMEX Club
APMEX believes in rewarding customers just like you for your loyalty and they give something back whenever they can. You can find out everything about some of the most popular APMEX Club benefits on their website.
Brinks is well-known as one of the most respected security companies in the world and also manages the APMEX private storage facility as one of their subsidiaries.
Precious Metals Portfolio
With APMEX’s custom Precious Metals portfolio tool, you can easily keep track of all your precious metals investments in your portfolio.
You can get direct access to respected mints worldwide via the company’s direct partnerships.
Their exclusive partnership with UPS allows them to offer discounted expedited shipping services.
You can count on QuickShip® to process and ship your order within one business day once your payment has cleared.
APMEX Pros and Cons
Of course, every company in the world will have its pros and cons, and here are a few of APMEX’s main pros and cons:
- Sales representatives are very professional
- Several payment options
- Excellent ratings and reviews
- 100% satisfaction guaranteed
- No cost for shipping orders over $199
- Some customer complaints
- Several delivery issues over 23 years
- Some customers reported unsatisfactory customer service
Why Choose Gold as an Investment?
Physical Gold can be purchased for a number of reasons, and there is absolutely no wrong reason for doing so. You’ll be making a good investment decision if acquire buy physical gold from APMEX, even if you do it because you simply find gold beautiful. So, here are some of the best reasons for choosing gold as an investment.
You can count on gold
In these days of serious volatility, gold is an investment that you can really count on. That’s because its value is almost always rising and very rarely does it go down. When the NASDAQ, big oil, mortgage companies, and even banks worldwide are wading into troubled waters, cash isn’t king but gold is.
Diversifying your wealth
Putting all of your hard-earned capital in just one place, whether it’s crypto or stocks and bonds, can really be a recipe for losing wealth instead of building it. True financial security depends on diversification.
However, there are times when getting a second opinion makes sense and that’s why we’re giving you ours.
Managing and growing your savings may have been successful for you so far. However, you’ll need to pay closer attention to your savings as you accumulate more, and if you screw up, the consequences will be greater. Clearly, you’re nobody’s fool where making your fortune is concerned. If so, you probably wouldn’t be reading this article.
So, what’s an easy way to start diversifying your wealth? You could start by acquiring some gold from Apmex or some other trusted precious metals dealer. Going overboard, however, is not advised by most financial pros who are recommending that you only put approximately ten percent into gold at first.
Protecting your wealth
If a big part of your portfolio is comprised of stocks, you’re undoubtedly aware that they can (and do) fluctuate constantly. Although you have no control over the NASDAQ, interest rates, or the economy overall, by investing in other types of assets, you can hedge against uncertainty.
There’s no better hedge against uncertainty than gold. Over several centuries, it’s been used to protect against everything from currency devaluations to inflation, and political risks.
In the face of all of the uncertainty in the financial sector, most investors turn to gold as an investment. It isn’t surprising that they invest their hard-earned cash in something that is synonymous with wealth.
It’s also worth remembering that gold was the very first form of the world’s legal tender. In order to back the needs of the world for liquidity, it’s in high demand because there just might not be enough to go around someday.
Stability during volatility
The stock market is extremely volatile and you’re not alone in feeling concerned about it. The extreme highs and lows often lead investors towards safe-haven assets, like gold. Bullion costs have historically moved inversely with stocks, so when stocks rise, bullion falls. And, even when the stock market crashes, this inverse correlation remains strong.
Though gold doesn’t just rise automatically every single time the market falls, history is definitely pointing to gold as an effective hedge when the stock market declines. In addition to protecting you from economic uncertainty, it also allows you to be prepared for financial catastrophes and economic uncertainty.
Final Thoughts About APMEX
A little guidance can go a long way in the financial world. Now that you have some basic knowledge about why gold is a good investment, where should you start? The first step, of course, to acquiring any precious metals is to find a reputable company that you can truly trust.
In order to pick a good precious metals company, you should first look for a well-established company that has a great reputation with investors. AMPEX definitely fills the bill on both counts and we recommend them because of it.
After you’ve considered why, how much, and which Precious Metals products you want to obtain, your next step is exactly how to acquire them. Investing in gold and silver isn’t anything like investing in your typical stock portfolio.
In fact, acquiring precious metals can be both a valuable investment as well as a fun shopping experience. And, keeping the gold acquisition process simple is one of the most important guidelines. Furthermore, it’s important to obtain your gold from reputable retailers like APMEX that have a longstanding reputation for quality.
You should still do some additional online research (like you are right now) to discover which one is well-regarded and really suits your needs so that you can proceed with confidence. Acquiring gold should always be an enjoyable part of your investing experience on top of being one of the best wealth-building investments in the world.
It’s also important to note that the company isn’t required to report its transactions to the IRS unless you fall under the Form 8300 requirement. This also applies to all other local, state, or federal agencies and is something that you probably should look for in any precious metals company that you choose to invest with.
We recommend that you shop for gold and silver products on the APMEX website and visit the Education Center to start learning which products might be right for your investment strategy.
Would you rather invest in silver?