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If you are interested in an investment in precious metals, APMEX might be the ideal option for you. This dealer has an extensive range of silver, platinum, and gold products at very competitive prices.
You will find anything that you are looking for from bullion coins and bars to ingots and rounds with a few clicks of your mouse. With such a wide range of options, it is difficult not to feel a bit overwhelmed when first visiting the site.
However, there are a few tools that can make these processes easier, including an innovative interactive design that allows you to see the price of each item in USD before you buy it, helping you to feel more assured about your purchasing decisions.
Before we get started with this review:
With so many gold companies out there, how do you know which is the best to invest with?
At Exim Bank India we've spent years researching nearly every gold and precious metals company in the business and report to our readers on the very few that worth investing with.
Our goal is to give you the best information you need to make an informed decision.
That is why we created a list of the best gold investment companies from our extensive research, and you can use this list to help you make the best choice.
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APMEX is one of the leaders when it comes to online dealers of precious metals. Established in 1999, this company is proud of its premium customer service levels and satisfaction.
They have a customer service team that is available 24/7 every day of the year, to assist with any concerns or questions that you might have before you make a purchase. Their contact channels include live chat, phone, or email.
What is a Gold IRA?
If you are interested in holding physical gold in your IRA, it cannot be a regular account. It will need to be held in a special, separate one, known as a Gold IRA.
These accounts also go by the name of precious metal IRAs that work in a very similar way to regular IRAs (individual retirement accounts) which involves the same distribution rules and contribution limits.
However, rather than holding paper-based assets such as bonds and stocks, a Gold IRA is designed for holding assets such as physical bullion, including gold bars or coins or other precious metals that have been approved such as palladium, platinum, and silver.
How to Open an APMEX Gold IRA
If you would like to invest in precious metals like gold, but you have concerns about storing these assets yourself, an APMEX gold IRA may be the solution for you. This firm provides full-service gold IRAs which include a range of products at competitive prices.
APMEX specifically specializes in physical precious metals and has been doing so since 1999. They also provide professional assistance when it comes to opening a gold IRA account.
The sales representatives of this company are here to guide you through each step of the way. They will assist you with all the paperwork while taking on the required transfer fees allowing you to commence with an investment in gold right away.
These are the steps that your dedicated sales representative will take you through:
APMEX has accounts with dedicated custodians to store the precious metals you decide to invest in. Different depository firms will charge a fee structure to hold your precious metals.
Once your new account is opened, APMEX will assist you with transferring your retirement savings into it. This is a process that may take as long as 3 months, and there may be a few fees that apply.
APMEX will assist you in choosing the right type of precious metals for your gold IRA account, while the purchasing process will take you only a couple of minutes.
APMEX provides a process that has made it simple to make IRA-approved purchases. All that is required on your side is to find a precious metal you would like to invest in which will then be stored at your chosen depository.
What are Gold IRA Rollovers?
A gold IRA rollover involves transferring your retirement funds into the type of IRA made to hold precious metals. These metals are typically available in bullion bars or coins and held in secure depositories.
What are the Costs Involved to Open a Gold IRA With APMEX?
APMEX doesn't charge a fee when you open a gold IRA account. The process to transfer retirement funds to a dedicated APMEX custodian may take 3 months. They charge $110 for each IRA transfer, and this may sound a bit high for certain customers.
However, they will waive this fee when using a bank wire or electronic check. You won't have to pay a fee when you purchase precious metals such as gold, but APMEX will charge $35 for each purchase of a precious metal.
These fees are low when you compare this to other dealers that are providing a similar service. The prices of precious metals generally fluctuate according to current market prices relating to that metal.
Market volatility can also impact the overall price of metals, so make sure you are aware of this before placing an order.
APMEX Services and Products
APMEX is regarded as one of the premium precious metal dealers that have been in business for nearly twenty years.
They provide a wide collection of products which makes it very easy to find what you are interested in, whether you would like to buy silver, gold, or both.
Here are some of the popular products that APMEX specializes in:
There is a wide selection of gold rounds and bars to choose from on the APMEX website. Some of these items include the Canadian Maple Leaf, the Gold Buffalo, 10 oz Credit Suisse Gold Bars, 1/2 oz .9999 Gold Krugerrands, and more.
Each of these products is IRA-approved.
The platinum bars that APMEX provides range from 1g to 100 oz. There are also platinum rounds to choose from that are available in one troy-ounce weight of 1 oz, 1/2 oz, and 1/4 oz. These items are all IRA-approved.
APMEX sells commemorative and limited-edition silver rounds and bars. Some of these items include the 1 oz American Eagle, Morgan Dollar, and Walking Liberty. These are all IRA-approved in addition to all the other U.S. Mint products.
There is a wide range of IRA-approved gold coins on offer. Some examples of these products include the 1 oz South African Krugerrand, American Eagle, and the Austrian Philharmonic.
There are also many other types of precious metal items that APMEX sells, and each one is IRA-approved. Some of these include ancient and rare coins for investments or collections, along with many other bars and coins to choose from.
How to Purchase Precious Metals from APMEX
Opening an order is a simple task once your IRA account is set up with APMEX.
Navigate the site through all the sub-categories to find items that interest you.
To purchase a product add it to the "shopping cart" which will then take you to the payment page. APMEX accepts bank wire transfers, electronic checks, and credit cards.
Select the payment method you prefer to fund the account. As soon as the payment has cleared, APMEX will process and then ship the order within 1 business day.
Precious Metal Shipping and Storage With APMEX
Once the funds have cleared, APMEX will ship your order in 1 business day.
This company makes use of a fully insured shipping method for each purchase, which gives you peace of mind that you won't lose your investment due to theft. Every purchase is backed by insurance policies (up to $25,000) against loss or damage, during transit.
This means you can relax by knowing that your investment is in safe hands. You will be given a tracking number when your order is shipped, and you will be sent a confirmation once the items are received at the depository.
The shipping charges will vary according to the location where your items are shipped and the weight of your package. APMEX ships orders every day from Monday to Friday (excluding holidays and weekends).
If your order has been placed before 1 pm CST, it will be shipped on that day. Any orders placed after 1 pm CST, will go out for shipment on the following business day.
Complaints About APMEX
On ConsumerAffairs, APMEX received a rating of 3/4 stars and a rating average of 3.5 stars (out of 5) on Trustpilot.
The negative reviews about this company involve these issues:
The positive reviews about this company revolve around the following:
Does APMEX offer a price match guarantee?
APMEX has a price guarantee that is low to ensure customers are not overcharged. If you have found the same specification product on another website and the price is less than what APMEX is offering, they will match this price.
What type of payment options does APMEX accept?
APMEX accepts electronic checks, bank wire transfers, and credit cards.
Can I trade precious metals on APMEX?
Yes, you can. APMEX has a versatile trading platform online that allows you to sell and buy items in your current cart. This method is very secure, and it also allows you to set the bid or ask price for every transaction, track prices, manage orders, and more.
What are the differences between precious metal mutual funds and precious metals IRAs from an investing perspective?
Precious metals IRAs are self-directed IRAs that allow for investments in a physical object such as platinum, silver, or gold. These products are directly purchased from privately owned companies or the United States Mint.
The precious metals mutual funds, allow you to invest in stocks that relate to the gold mining sector. These aren't physical products, but rather a type of stock that you can trade on the stock markets.
What are the fees for an IRA account?
You won't be charged anything to set your IRA account up when you work with APMEX. But you will be charged certain fees once you have made your first purchase. These fees generally include transfer fees, storage fees, etc.
When you make a purchase ask about these fees when they apply.
Is it possible to buy investment silver without an IRA account?
Yes, you can. APMEX allows customers to buy over the phone or online with a credit card.
Are there every any promotions or sales at APMEX?
APMEX is well-known for frequent sales or promotional periods that allow you to secure the best deals. Make sure you check the site for current discounts or promotions before you make a purchase.
What are the differences between selling and buying with APMEX?
When buying precious metal products, you will pay for the "intrinsic value" of the metal, plus the numismatic value that the company adds on. When selling your products, you can secure the spot price along with any numismatic value.
Pros and Cons
Today many organizations deal with precious metals, yet APMEX appears to be a solid and reliable choice when it comes to precious metal IRAs.
The interactive website and competitive prices will make your purchasing experience easy and stress-free.
The easy-to-navigate and simplistic design offer an easy way to find the products that interest you, and the 24/7 customer service is there to deal with any questions or concerns that you might have.
APMEX is an acceptable company, they are not a scam, but we do not recommend them.
They are not the best option for cash purchases of precious metals and certainly not the best option for investors that want to protect their wealth with a gold IRA.
There are much better options like the highly rated companies we have researched on this website.
You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:
Or, if you like what you have read about APMEX, you can go to their website below: