APMEX Reviews & Scam Report

APMEX Reviews & Scam Report

APMEX is a fully-fledged online retailer of precious metals, including gold, silver, platinum, and palladium. The company is headquartered in Oklahoma and was incorporated in 2000. It is a highly reputable company that is lauded as one of the largest retailers of precious metals. The company has grown in leaps and bounds since its inception in 2000 and so far has employed over 200 people. It has since sold about 130 million ounces of silver and gold worldwide, thanks to its online marketing and distribution business model. It has a presence in over 60 countries.

The company buys and sells precious metals in the form of bullion coins, bars, and wafers. APMEX boasts a large pool of talented employees with diverse backgrounds and has been instrumental to the growth of the company. The company also has an astute crop of leaders who have a vast wealth of experience. Scott Thomas is the founder and the president of APMEX. Under his leadership, the company has witnessed enormous growth to become the largest online precious metals retailer globally. Kenneth Lewis is the current Chief Executive Officer with over 20 years of experience, and his strategies and leadership style has helped propel the company into what it is now.

The company is a member of the American Numismatic Association, a non-profit organization that educates people about coin collection. It has been accredited by and rated A+ by Better Business Bureau and is also an authorized distributor and purchaser for U.S. Platinum bullion coins, Silver bullion, and Mint Gold. APMEX has been in good standing in the grand scheme of things and has not had major issues since its inception. Nonetheless, you may encounter a few complaints here and there regarding their services, with some customers complaining that the company does not conscientiously respond to their concerns. Overall, this is a great company that you can trust when buying or selling precious metals online.

APMEX participates in corporate social responsibility through community involvement. It is committed to helping others in need, and as such, it has come up with a charity initiative dubbed Regional Food Bank, whose aim is to fight hunger and give hope to people who cannot afford food. It encourages volunteers, employees, and well-wishers to support the cause to alleviate the suffering of the needy.

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What the Customers Say about APMEX

APMEX Reviews & Scam Report

You will agree that buying precious metals requires one to be sure of the companies they are dealing with because of the high value of the items. One way to be sure of this is to try and understand what other customers are saying about the commodities and the company. The customers’ feedback regarding their products and how their complaints are handled has enabled us to measure the level of customer satisfaction gauge their customer service.

The majority of APMEX customers are happy with the seamless online process of buying and selling precious metals. Many customers have reported that the goods reached them in approximately ten days from ordering upon purchasing the precious metals. As a customer, you will be kept abreast about the whole process and were even given a tracking number for purposes of easy follow-up. Your goods will also usually well-packaged.

The company handles the majority of complaints well without inordinate delays. If you happen to have any queries, there is a customer service team on standby to help you handle your complaint satisfactorily. Many customers say that their customer service is polite and experienced to tackle any issue you could be having.

A great deal of customers has lauded APMEX products as high-quality products offered at reasonable prices. It has adopted a customer-centric model which ensures that customers’ satisfaction prevails over other needs. In an industry like this, chances of being sold sub-standard products are high if you are not careful. At APMEX, virtually all the customers are happy with the products, and there are neither cases of substandard goods nor price exploitation.

APMEX Reviews & Scam Report

APMEX’s online e-commerce model is foolproof, and many customers are happy about the way it operates. The transfer of funds is quick, confidential, and secure. There have never been instances of customers who have lost money while buying goods on their online platform. This is a key feature because, as a customer, the first thing you want to be sure about is the safety of your money.

On the flip side, some customers are dissatisfied with the services. They say that they purchased gold, but for some reason, the company canceled the purchase and shipped the gold back. Some lamented over high prices of goods, saying that they were being overcharged despite the decline in prices of the underlying products.

There have also been instances where the resale value has been significantly low, with some customers saying that they sold some precious metals at a way low price than they had bought it from APMEX. Customers have also voiced their concerns about USPS, with some saying that it was a great letdown.

Some customers have put the company in the spotlight to fail to accept buybacks or buy back some precious metals below the prevailing market prices. There have been cases of customers being sent the wrong coins.

It is normal to have complaints from customers because it’s rare to have a company operating a hundred percent without any hiccups. What should worry you is if there are many complaints about the same issue because that would tell you that there is an issue the company is not addressing fully.

Is APMEX a Great Place to Work?

APMEX Reviews & Scam Report

APMEX is a great place to work for. Here you will encounter a truly talented team with diverse backgrounds and committed to the company’s cause. As a way of enhancing unity and teamwork, all the employees work in one location. The company employs sales representatives, accountants, IT specialists, finance officers and offers internship programs to graduates. The company offers competitive benefits as well as immense opportunities for growth. If you are looking for a company that has a great culture and will give you hands-on experience, then APMEX is a good place where you can kick-start your career.

Does the Company Offer IRA rollovers?

APMEX doesn’t offer IRA rollovers. However, it has partnered with a number of IRA custodians. The custodians include GoldStar Trust, Self Directed IRA, Entrust Group, New Direction IRA, and Kingdom Trust Company. The cost of the APMEX will charge you to set up an IRA with them, depending on the IRA custodian they link you with. In this industry, transparency is the key, and it’s advisable for you to request a breakdown of the fees to understand the nitty-gritty of the pricing.

Pros and Cons of APMEX

APMEX is a company of good standing, but just like any other company, there are things they will get right and others that they will flunk. As a customer, you need to know their strengths and weaknesses and compare them with other companies with the same products to make an informed decision. Here are the pros and cons of APMEX.

Pros

  • Outstanding sales representatives: APMEX has incredible sales representatives who are highly efficient and knowledgeable about the different types of products. The team has all the hallmarks of good salespeople, which go a long way in ensuring customer satisfaction. The majority of customers believe that the APMEX sales team exhibits confidence, enthusiasm, empathy, responsiveness, and good listening skills.
    Having a great sales team is usually a big plus to the company itself and the customers it serves. If you are a customer looking to buy precious metal from a company with friendly people who won’t give you problems, then APMEX is the right choice for you.
  • The company enjoys a High Rating: The company boasts excellent ratings from BCA, BBB, and TrustLink. It was rated AAA by BCA, A+ by BBB, and 5 stars by TrustLink. This is a big vote of confidence for the company, and it lends credence to its greatness. Customers can trust that the company they are dealing with is a great one. The rating system mainly gauges the level of customers’ satisfaction and the quality of service. In this line of business, it is one of the rated companies based on these ratings, and hence customers can have trust when transacting with them.
  • Variety of Payment Options: APMEX offers various payment options, including bank wires, personal checks, cashier’s checks, money orders, certified checks, and credit cards. Customers hence have a chance to explore different payment methods and choose the one they are comfortable with. It is good to bear in mind that different payment methods have different limitations or characteristics. For instance, some won’t allow you to transact beyond a certain threshold. Many customers prefer bank wire because it enables them to pay over $2,500.
  • You can be a Member of a Club: You can choose to join an APMEX club and start enjoying a number of benefits depending on your membership level. You can receive timely notice of product promotions and alerts. If there are any new products or updates about precious metals, you can be the first one to know. You will also be among the first people to be considered for sales offers. You will be able to receive special deals once if you reach Premier status.
  • It is big, Reputable and has a wealth of experience: APMEX is a mammoth and reputable organization that has been in the industry for over 15 years. As a customer, you can count on their experience since they have been in the space for a long time. The company is arguably the best online retailer in this market, and if you are a customer looking for a well-established organization to buy precious metals, then this is it. Geographically, it has a presence in over 60 countries to bring services closer to people. The advantage of dealing with a company of this sort is that there is a sense of credibility.
  • Exclusive Partnership with other big Market Players: It has exclusively partnered with a number of players in the market, including eBay and Professional Coin Grading Service (PCGS). eBay boosts the online distribution of its products, while PCGS helps it with coin grading, attribution, authentication, and encapsulation services. These partnerships help it cement its position in the market and improve its services. The partnerships help APMEX strengthen its value chain, which benefits customers.

Cons

  • Dissatisfied Customers: APMEX has a good rating, but despite this, there are some customers who are dissatisfied with their services. They complain of being short-changed about the coins. They say that the coins they purchase from the company do not match their expectations. Issues like these taint the image of APMEX, making customers lose faith in it. It helps to do your due diligence properly so as to be sure that you get the value of the product you want to buy.
  • Delivery issues: There have been a number of customer complaints about the delayed deliveries. Other delivery issues related to the delivery of default or substandard goods. As would be expected, customers get jittery whenever there are inordinate delays. The issues have been a big concern to the customers who feel that they are not getting the best from the company.
  • Unresponsive Customer Service: APMEX does many deliveries around the world, and most of their orders require that customers pay first before delivery. Whenever there are delays, customers usually contact customer service to air their concerns. Unfortunately, there are delays in response which adds to customers’ stress and anxiety.
  • Overpriced Products: The prices of their precious metals are above the market price of their competitors. In relation to this, there are instances when customers resell the products they have bought from the company, only to the product to fetch a disproportionately low amount of revenue. This raises concerns as to the actual value of the underlying commodity. As a consumer, the onus is on you to compare prices in the market and buy from the company offering the products at competitive prices.
  • Strict Anti-Money Laundering Rules: Anti-money laundering is usually a welcome undertaking. However, APMEX has a stringent anti-money laundering vetting process which is considered tedious and time-consuming. While we are not disparaging the need to do what it can to curb the vice, the company should try to simplify the process so as not to discourage customers.

Is APMEX a Scam?

APMEX Reviews & Scam Report

APMEX is a legitimate company and not a scam. The company is accredited by Better Business Bureau and is arguably the largest online retailer of precious metals. The company buys and sells precious metals online, which include gold, silver, palladium, and platinum. It is rated highly by a BBB, TrustLink, and BCA. It is rated A+ by BBB, which is no mean feat. This lends credence to its legitimacy.

Of course, customers’ complaints would ordinarily expect, but this should not mean that the company is not bonafide. The company is well-meaning and shows good faith in resolving customer issues. It’s good not to forget that most customers are satisfied with how the company handles their issues, and dissatisfaction from a section of customers is not enough to render it a scam.

What makes a company a scam is if there is a gross infringement of customers’ rights or if the underlying issue remains unresolved. In the case of APMEX, some complaints may take time to be resolved but are eventually dealt with. What would worry you as a customer is if you find out that the issues were never resolved at all. The majority of the problems do with the delivery of goods which company settles at long last. What would amount to a scam is if you learn that such issues go unresolved, which has never been the case with APMEX.

If you are a potential customer, it is always advisable to do your research without a hurry because companies out there want to extort money from you. Don’t fall into the trap. Read about their reviews and gauge what people are saying about them online.

While there may have been a number of complaints that can discourage your from choosing APMEX, they are still a good company. There is no company that does not have complaints. What matters when you are choosing between two or more companies is how they compare with others.

Although we do think that APMEX is a solid company, we believe that there are better companies out there to make your investment with.

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