APMEX Review 2022: Buy Precious Metals Online

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With inflation by the roof and the opportunity of heading right into a recession quickly, buyers want to diversify. Gold, silver, and different valuable metals are standard property as a result of they’re nice shops of worth and can be utilized as a hedge towards inflation.

Gold, particularly, is a well-liked selection for buyers in search of a low-risk asset to spend money on. The method of shopping for and storing bodily gold, nonetheless, could make it a tougher asset to entry than shares or bonds.

This text covers investing in gold, silver, or different valuable metals utilizing APMEX. It can cowl what prices to anticipate, how stock is saved, and a few of the various kinds of valuable metals buyers can start investing in.


Commissions & Charges – 7


Buyer Service – 8


Ease of Use – 9


Training – 9


Number of Merchandise – 10

8.5

Complete

APMEX is likely one of the largest sellers of valuable metals within the U.S. It presents a secure, trusted method to spend money on gold and different metals. Join auto-investing or a valuable metals IRA, however make sure to examine the high-quality print: you could not get an awesome worth once you promote your property again to the trade, and a few providers might incur charges.

VISIT APMEX

APMEX Professionals & Cons

execs

Extensive number of valuable metals to select from
Automated investing choices
IRA-eligible

cons

Some cost strategies incur a 4% payment
Storage and transport charges are barely larger than different platforms

What Is APMEX?

APMEX – or the American Treasured Metals Alternate – is certainly one of America’s largest valuable metals sellers. APMEX presents a wide range of merchandise, together with gold, silver, and palladium bars and cash.

Based in Oklahoma Metropolis in 2000, APMEX initially purchased and bought valuable metals on eBay. At this time it’s a standalone enterprise and is likely one of the most established and credible exchanges in america.

Get into gold >>> Is Gold a Good Funding?

What Does It Provide?

APMEX works with patrons and sellers to facilitate the acquisition or sale of valuable metals. They provide buyers alternative ways to buy and retailer valuable metals and a buyback program for people seeking to liquidate their holdings.

The Bullion Card

The Bullion Card is a Visa bank card. It’s the first valuable metals reward card in the marketplace and is unique to APMEX. Its rewards embody:

Introductory 4% again in gold or silver for purchases made on APMEX
1% again in gold and silver for all different purchases
15,000 bonus factors after spending $1,500 (a couple of $150 worth)
0% introductory APR
0% stability transfers
Unique presents for cardholders

Similar to an everyday reward bank card, the Bullion Card permits cardholders to earn factors that may be exchanged for gold or silver.

AutoInvest

One of many downsides to investing in valuable metals is the shortcoming to auto-invest. APMEX solves this drawback by permitting buyers to arrange recurring purchases with their AutoInvest characteristic.

You possibly can take part in one of many weekly, biweekly, month-to-month, or quarterly AutoInvest schedules. This simplifies the method and permits buyers to profit from investing repeatedly no matter worth fluctuations.

Treasured Steel IRA

Traders can open an IRA or switch an current IRA to APMEX by way of a custodian companion. APMEX works with a number of completely different companions who can assist buyers open an account.

As soon as an investor has an account, they will select from any IRA-eligible merchandise APMEX presents. These embody:

Gold above .995 purity (besides U.S. Gold Eagle cash)
Silver of not less than .999 purity
Platinum of not less than .9995 purity
Palladium .9995 purity

Organising a Gold IRA with APMEX is free however be ready to satisfy their $2,000 buy requirement. Per the IRS, IRA account holders can not maintain their very own stock. Count on to additionally pay storage charges in your custodian to carry your stock in your behalf. For portfolios valued at lower than $25,000, buyers are charged a flat storage payment of $15 per 30 days.

In contrast to conventional IRAs that penalize you for withdrawing your cash early, an IRA with valuable metals could be withdrawn anytime. Withdrawal charges can vary from $50 to $75, relying on the withdrawal dimension and any prices related to transport.

Learn extra >>> Easy methods to Put money into an IRA

APMEX Membership

Whenever you place two orders or purchase or promote $5,000 price of valuable metals with APMEX, you’re robotically enrolled in APMEX Membership. Being a member of APMEX Membership provides you entry to particular gross sales, unique presents, and even your personal account supervisor.

APMEX Membership has completely different ranges of rewards based mostly on how a lot you employ APMEX. The degrees are as follows:

Choose: Purchase or promote $5,000 with APMEX or place between 2-5 orders
Premier: Purchase or promote $10,000 with APMEX or place between 6-9 orders
Elite: Purchase or promote $20,000 with APMEX or place 10+ orders
VIP: That is the very best degree of membership, and it’s invite-only

OneGold

OneGod is APMEX’s digital valuable metallic product providing. Like an ETF, OneGold lets you profit from the appreciation of gold and silver costs with out bodily holding stock.

Customers can open an account with OneGold’s digital platform. Traders can buy valuable metals individually or arrange auto investing. Digital possession can have a decrease barrier to entry for a lot of buyers, particularly these investing in valuable metals for the primary time.

Learn extra >>> Easy methods to Put money into a Gold ETF

Different Options

APMEX presents a wide range of methods for buyers to buy valuable metals, together with cryptocurrencies. APMEX makes use of BitPay, permitting clients to pay utilizing Bitcoin, Ethereum, and Dogecoin. Whereas this service is handy for crypto buyers, it incurs an extra 4% payment.

APMEX additionally presents a buyback program. That is a substitute for promoting on a third-party market like eBay. It permits buyers to rapidly liquidate their gold or silver with out ready to search out the suitable purchaser or paying costly charges to promote and ship valuable metals. However to qualify, you will need to meet a minimal promoting requirement of $1,000.

What Are the Charges and Limits?

Every part on APMEX is priced in response to the market demand. This implies costs and minimums range based mostly on the metallic. Costs are locked in when you place an order.

APMEX doesn’t cost commissions, and orders over $199 ship without spending a dime. Cancellations incur a $35 payment, whereas sure cost strategies, like paying with a bank card or crypto, incur a 4% payment. (Conversely, direct funds by way of examine or wire switch get a 4% low cost).

There are some minimal necessities to make use of a few of APMEX’s providers. A valuable metals IRA requires a $2,000 minimal buy, whereas APMEX requires that buyers promote not less than $1,000 to them at a time.

Collection of Treasured Metals and Cash

APMEX has an enormous choice of valuable metals and is likely one of the largest exchanges within the nation. It primarily presents bouillon cash and bars in gold, silver, platinum, and palladium.

Standard objects embody:

Gold and silver bars
Silver and gold cash from completely different international locations like Canada
Gold foil notes

It additionally presents paper forex, uncommon cash, and collectible cash catered towards numismatists and collectors. These merchandise can embody cash from international locations like Australia and Canada and enjoyable collectible cash reminiscent of a Bitcoin spherical and a set of silver Star Wars-themed cash.

How Do I Contact APMEX?

APMEX is well-regarded for its customer support. The quantity for his or her U.S.-based name middle is +1 (800) 375-9006. Representatives can be found Monday by Thursday, 8 AM to eight PM (EST) and Friday, 8 AM to eight PM (EST).

You can too make inquiries by way of stay chat or e-mail:

Common inquiries: [email protected]
IRAs: [email protected]
Citadel: [email protected]

APMEX prides itself on its customer support; nonetheless, lately, complaints have been posted to evaluation websites like TrustPilot. Clients usually report an excellent expertise shopping for cash from APMEX however have difficulties contacting customer support and finding out points once they attempt to promote.

Is APMEX Legit?

APMEX will not be solely legit, however after 20+ years in enterprise, they’re one of many nation’s most credible and dependable valuable metallic exchanges. A crew of numismatists who’re consultants in cash, paper currencies, and valuable metals vet APMEX’s merchandise.

That being stated, buyers will need to contemplate the dangers of buying gold and silver by an trade, reminiscent of:

⚠️Unsecured Transportation By way of the Mail

Transporting valuable metals by the mail carries vital dangers. Whereas the U.S. Postal Service is kind of dependable, it is from good. When sending any type of cash — whether or not it is money or gold bars — there’s at all times a danger of it getting stolen. APMEX tries to mitigate this danger by insuring all shipments to and from APMEX for as much as $60,000.

⚠️Low Buyback Costs

Whereas APMEX does supply a buyback program and argues that it’s higher than an investor attempting to promote their cash on eBay, clients report a unique expertise. The preliminary buyback worth quoted will not be essentially assured. If a educated APMEX numismatist critiques your objects and determines them to be decrease high quality, they could supply a lower cost. At this level, APMEX is already in possession of the merchandise, so it could possibly be extra of a headache to have it returned to you so you may attempt to promote it elsewhere.

⚠️House Storage Can Be Dangerous

Storing valuable metals at house additionally comes with dangers. Maintaining your stock in a secure at your own home may look like the best choice, however you won’t be geared up with the suitable storage answer. Relying in your insurance coverage coverage, an sudden occasion like a housebreaking or pure catastrophe may imply you lose your metals for good.

⚠️Custodian Providers Have To Be Reliable

A custodian service, just like the one supplied by APMEX, is one method to keep away from receiving and holding bodily valuable metals in your house. This service normally fees a small month-to-month payment to carry your objects in your behalf.

Whereas that is usually thought-about secure, with any trusted third occasion, there’s nonetheless some danger. You depend on the third-party custodian to retailer your gold and maintain ample information of your holdings. Ought to one thing occur to them, you could lose entry to your inventory of valuable metals.

Finest Alternate options

Whereas APMEX is likely one of the nation’s oldest and largest valuable metallic exchanges, it isn’t the one place you may replenish on gold or silver.

JM Bullion

JM Bullion is a bullion vendor based mostly in Dallas. They’re certainly one of APMEX’s largest opponents and supply a wide range of gold, silver, and palladium merchandise.

Like APMEX, JM Bullion presents IRA-grade metals and accepts numerous cost strategies, together with Bitcoin. In terms of costs, each when it comes to the unfold and transport prices, JM Bullion is somewhat bit cheaper than APMEX.

Cash Metals Alternate

Cash Metals Alternate is one other competitor to APMEX. Much like APMEX, Cash Metals Alternate presents automated investing and aggressive pricing.

A singular attribute of Cash Metals Alternate is its mortgage program. Clients can take out loans utilizing their gold and silver deposits as collateral. Mortgage candidates can borrow as much as 75% of the market worth of their valuable metallic property.

Backside Line

Treasured metals may be an excellent retailer of worth when the financial system takes a downturn and could be a good hedge towards inflation. Whether or not you need to retailer gold or silver your self or reap the benefits of custodian storage options, APMEX has an choice for you.

APMEX presents a variety of services, together with a digital investing platform. This makes it simpler for brand spanking new buyers, particularly digital natives, to spend money on valuable metals. The Gold IRA can be a singular funding choice for buyers who need to maintain valuable metals of their retirement portfolio.

Extra on valuable metals:



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