In business since 1999 and located deep in the heart of Oklahoma City, OK, APMEX, or as they’re also known- the American Precious Metals Exchange- has solid ratings with the BBB and BCA with an A+ and an AAA rating respectively. They’re not heavily complained about through those channels but but they’re certainly not getting the job done the way my top 3 Gold IRA companies are.
In fact the unofficial complaints about APMEX and their general customer service and order fulfillment sounds like dealing with AT&T or T-Mobile. From packages where a couple of coins per roll are very tarnished to ridiculous constraints with shipping, a lot of customers on this website tell you APMEX is a pain to do business with. They have been accused by regular customers of sneaking in sub standard coins to their orders and that they will take their business elsewhere. You know it’s bad when your regulars of several years are saying they’re going to buy their precious metals and silver from someone else.
APMEX Coins Getting Customer Complaints
Additionally they don’t seem to screen their buyers well. Many reports have included consumer credit card fraud that innocent victims then have to battle out with APMEX as they clear things up. It would surely suck to not have access to $5,000.00 in credit one day because you got ripped off and APMEX has to clear the channels to make things right. Especially when I heard they don’t answer customer service emails with great regularity. APMEX has also been accused of selling over spot price when they claimed to meet spot price exactly.
Many Collectors not Happy With APMEX
APMEX tends to be for people and clients who want to purchase small amounts of gold, though they do offer precious metal IRAs. But even some people paying $5000 for BU coins were complaining of an unacceptable product. Probably not every transaction goes bad at APMEX but after reading all these complaints, it doesn’t sound like a company that you’d want to do business with. Even their fees and shipping costs are reported as being higher than other metals dealers.
If you’re not a coin collector per se and you’re not focused on the quality of the metal or at least how they appear, or if you want a Gold IRA, I’d just stick with the industry leaders. APMEX sounds pretty hit or miss and unless you just want to order a few gold or silver coins (and even then there’s no guarantee they won’t be scratched or dinged), I’d stay away. That’s just me.