APMEX Complaints: Are They Legit? 

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APMEX (American Precious Metals Exchange) is a prominent name in the precious metals industry, known for its extensive range of products, high-quality goods, and exceptional customer service. 

Established in 2000 by Scott Thomas, APMEX has grown to become a trusted platform for both investors and collectors. 

Despite its strong reputation, the company has not been immune to customer complaints, particularly concerning the quality of coins and delivery issues.

In this blog, we delve into the nature of these APMEX Complaints, examining whether they should be a cause for concern for potential customers. 

We also explore the positive reviews and the company’s efforts to address and resolve customer issues, providing a balanced view of APMEX’s performance in the market. 

Whether you are an experienced investor or a novice collector, understanding both the strengths and weaknesses of APMEX can help you make an informed decision.

Are there any APMEX complaints?

APMEX (American Precious Metals Exchange) prides itself on providing strong customer service to its clients and has a solid reputation in the precious metals industry. 

The company has received commendable reviews for its high-quality goods, secure and quick delivery, and excellent customer service. Many customers appreciate APMEX’s extensive product range, which includes unique and rare items.

Despite its excellent reputation, some consumers have filed complaints about receiving lower-quality coins than expected and issues with delivery dates. Here are some of the complaints filed by APMEX customers on the Better Business Bureau (BBB):

1. A customer reported purchasing gold coins from APMEX in 2022 that could not be verified with their Sigma precious metal verifier. After notifying APMEX through online chat, the issue remained unresolved. Recently, the customer sent the coins to NGC (Numismatic Guaranty Corporation) and was informed that the coins were fake.

2. Another customer complained about an order placed on the APMEX website where the purchased items never arrived, even though payment was rendered. Despite making four phone calls, the vendor could not confirm a shipping date and only assured that the items would eventually arrive without providing a specific timeline. The customer felt the vendor’s order fulfillment process was inadequate.

3. A lifelong numismatist expressed disappointment with a recent purchase. The item pictured online had a special CAC (Certified Acceptance Corporation) designation, but the coin received did not have this certificate. Although the coin was the same grade (MS65) as advertised, the absence of the CAC certificate, valued at approximately $100, was seen as deceptive advertising. The customer wrote to APMEX to express their disappointment, seeking no punitive actions but suggesting that the company should refrain from false advertising of certifications above grading criteria.

It’s worth mentioning that most of the APMEX complaints filed on the BBB have been resolved by the company, which is a positive sign of their commitment to customer satisfaction.

What APMEX Customer Reviews Suggest 

APMEX (American Precious Metals Exchange) is accredited by the Better Business Bureau (BBB) and has received an A+ rating, the highest possible. 

This rating indicates that APMEX conducts its business in a trustworthy manner and effectively addresses customer complaints, although some have been reported.

On Trustpilot, the company has received 7,916 reviews but holds a poor rating of 1.8, where customers have expressed their dissatisfaction. However, many have also praised the company, indicating a mixed perception among users.

On ConsumerAffairs, APMEX has received a 3.6 rating based on 253 customer reviews. This platform shows mixed reviews as well, but generally, the company has received positive feedback.

Recent APMEX Customer Reviews from Different Platforms

One customer mentioned making over six orders from APMEX since February, all of which processed and shipped quickly. They appreciated the well-packaged shipments and detailed receipts, expressing happiness with the service and intent to continue purchasing from APMEX.

Another customer, who has ordered several times over the past two years, highlighted the convenience of placing orders and mailing in checks. They praised the price lock-in feature and the absence of a minimum order requirement. Despite seeing negative reviews from others, this customer reported a consistently positive experience.

A first-time buyer of precious metals shared their positive experience, noting that their gold bar was delivered the next day without issues paying by credit card. They received a follow-up call to confirm satisfaction and described APMEX as a very professional organization.

Another review lauded APMEX for its great service, user-friendly website, extensive product range, and ease of use. This customer appreciated that APMEX offers peace of mind and mentioned finding alternative solutions for items not available through APMEX, like 5oz bar tubes.

A customer from the UK was impressed with APMEX’s efficiency and high-quality services. They ordered historical silver coins, which arrived incredibly fast and matched the description provided by APMEX. Despite the minimum order limitation, they considered APMEX a solid choice compared to domestic options.

Despite many APMEX complaints, these positive reviews illustrate that APMEX is capable of delivering high-quality service and products, satisfying many of its customers. 

The varied feedback indicates that while some customers have faced issues, a significant number have had excellent experiences, highlighting APMEX’s ability to meet customer expectations effectively.

About AMPEX

APMEX was established in 2000 by Scott Thomas, who serves as the founder and president. Under his leadership, the company has grown significantly, driven by his highly effective and profitable marketing strategies. 

In recognition of his contributions to the industry, Scott received the Presidential Award from the American Numismatic Association in 2009, one of the most prestigious awards in the field.

APMEX is a leading online retailer specializing in the sale and purchase of precious metals. Catering to both investors and enthusiasts, APMEX provides a comprehensive range of products and services, including:

• Portfolio Management Capabilities
• The Bullion Card for Easy Transactions
• APMEX Autoinvest for Automated Investing
• APMEX IRA for Retirement Savings in Metals
• APMEX Bullion Club Memberships
• Multiple Payment Methods to Facilitate Purchases
• Storage Solutions
• Currency Sales for Diverse Investment Options

For collectors, APMEX offers a variety of non-metal accessories, such as coin storage capsules, display boxes, literature, safes, and tools for examining items in detail. 

Additionally, individuals wishing to liquidate their metals can benefit from APMEX’s buyback services, which provide competitive prices for gold and silver assets.

APMEX Products & Services 

APMEX boasts one of the largest collections of precious metals products available online. They offer an extensive range of gold, silver, platinum, and palladium products, including IRA-eligible, numismatic, and semi-numismatic coins. 

Each product comes with detailed pricing information to help customers understand their investment costs.

Gold IRA Products

APMEX’s gold selection features a wide array of IRA-eligible coins and bars, including popular options like the American Eagle, Canadian Maple Leaf, and more. Notable coins in their collection include:

• American Gold Eagle
• Canadian Gold Maple Leaf
• Australian Gold Kangaroo
• Great Britain Gold Britannia
• Austria Gold Philharmonic

In addition to these, APMEX offers gold bars from reputable brands such as PAMP Suisse and Credit Suisse in various sizes and varieties.

Silver IRA Products

The APMEX silver collection includes all the popular silver IRA products, such as:

• American Eagle Silver Coin
• Canadian Silver Maple Leaf
• American Eagle Silver Coin (Proof)
• Austrian Philharmonic Silver Coin
• Australian Silver Kookaburra
• Armenia Silver 500 Drams Noah’s Ark

This selection features coins of various years and sizes, as well as silver bars available in 1 oz, 10 oz, and 100 oz sizes.

Platinum IRA Products

APMEX offers a substantial collection of platinum IRA products, including:

• American Platinum Eagle
• Valcambi 1 oz Platinum Bar
• Canadian Platinum Maple Leaf
• Australian Platinum Platypus
• Credit Suisse 1 oz Platinum Bar

Palladium IRA Products

Their palladium catalog includes notable products such as:

• Canadian Palladium Maple Leaf
• 1 oz Palladium Bar PAMP Suisse

Non-IRA Products

While APMEX has a strong collection of IRA-approved products, their non-IRA section is particularly impressive. They offer rare coins, including Pre-1933 US Gold Coins, Silver Dollars (1794-1978), Peace Silver Dollars (1921-1935), and more.

APMEX’s Elite Picks section highlights the best rare coins in their collection. Additionally, they offer licensed and movie-themed coins, making their non-IRA selection appealing to avid collectors and casual investors alike.

Despite the fantastic range of products, it’s worth noting that some items were unavailable at the time of writing this review.

APMEX Fees & Charges 

APMEX does not apply any additional charges to the spot prices displayed on their website. However, customers paying by check or wire transfer receive a 4% discount, which is not available for payments made via PayPal, BitPay, or credit card.

IRA Fees

Your IRA fee with APMEX will depend on the custodian you choose. APMEX offers five custodians:

• Equity Institutional
• GoldStar Trust Company
• Kingdom Trust Company
• The Entrust Group
• STRATA Trust Company

Each custodian has its own fee structure. For instance, Equity Trust charges $50 for account setup fees, while Kingdom Trust does not charge any setup fees. Additionally, APMEX fees are influenced by the size of your investment.

• Storage Fees: 0.55% (with a $15 minimum)
• Initial Setup Fees: Varies by custodian
• Annual Maintenance Fees: Varies by custodian

There is no minimum investment requirement listed on APMEX’s website.

Shipping Fees

APMEX offers free shipping for domestic orders over $199. Orders below this value or Citadel orders under $500 incur a $9.95 shipping fee.

QuickShip® Program

APMEX’s QuickShip® program ensures that eligible orders paid by credit card, PayPal, cryptocurrency, or bank wire are shipped the next business day. This program excludes international shipments, pre-sale items, and specific product categories.

APMEX operates Monday to Friday. Orders processed outside of these days or during non-business hours are managed the following business day. 

Severe weather conditions in Oklahoma City can cause delays. If APMEX fails to fulfill the QuickShip® promise, they provide a discount coupon for the next purchase.

In summary, while APMEX offers competitive pricing with no hidden fees, the actual costs will depend on the chosen payment method, custodian fees, and investment size. 

Their transparent fee structure, combined with the QuickShip® program and free shipping on qualifying orders, enhances the overall customer experience.

If you’re serious about investing in precious metals, you should start with this free gold IRA scam checklist. It will help you identify potential scams and invest safely.

Should you be Concerned about APMEX Complaints? 

While APMEX (American Precious Metals Exchange) has established itself as a reputable leader in the precious metals industry, it’s important to consider the various customer complaints that have surfaced. 

Despite a strong overall reputation and numerous positive reviews, some consumers have reported issues that potential buyers should be aware of.

Several APMEX complaints on the Better Business Bureau (BBB) involve concerns about the authenticity and quality of products, as well as delivery delays and discrepancies in advertised versus received items. 

Despite these issues, APMEX has a track record of resolving most complaints filed with the BBB, indicating their commitment to customer satisfaction. 

This balance of positive and negative feedback suggests that while there are areas for improvement, many customers still have positive experiences with APMEX.