Do you know what’s on everyone’s mind these days? The economy and how to protect our hard-earned money.
With all the uncertainty, many folks are looking into diversifying their investments. And that’s where precious metals, like gold and silver, come into the picture.
They’re beautiful and a trusted way to safeguard wealth against inflation and economic turmoil. But you might wonder, “Where do I start buying and storing these shiny assets?” Well, APMEX is an online platform for purchasing precious metals.
In this APMEX review, we’ll dive into the features, pricing, storage options, pros, and cons and explore the variety of metals available for investment.
What is APMEX?
APMEX, short for American Precious Metals Exchange, ranks among the largest and most reputable precious metals dealers in the United States.
They offer a wide selection of products, such as gold, silver, and palladium bars, to satisfy your investment needs.
Additionally, APMEX provides non-metal accessories like coin capsules for secure storage, elegant presentation boxes, informative books, robust safes, cleaning supplies, and magnifiers/loupes for a close-up look at your prized assets.
Established in Oklahoma City back in 2000, APMEX initially conducted its precious metals transactions on eBay.
Fast forward to today, and they’ve evolved into an independent business, making a name for themselves as one of the country’s most trusted and esteemed exchanges.
APMEX History
Scott Thomas, the founder of APMEX, was inspired by his grandfather, a mail-order coin dealer. Nearly two decades after his grandfather’s passing, Thomas discovered his unsold inventory, valued at over $100,000, and started selling it on eBay.
As his interest in coins and metals grew, so did his business.
He soon outgrew his basement, leading him to establish APMEX and acquire the Former Federal Reserve building in Oklahoma City. This now serves as a precious metals storage facility and storefront.
Today, APMEX boasts over 800 employees and is a trailblazer in the industry.
APMEX Features
APMEX truly shines in the precious metals market thanks to its impressive array of unique features that go above and beyond other money metal exchange platforms.
1. Portfolio Management
As an APMEX account holder (it’s free to sign up!), you can access a complimentary service that lets you create and track your metals portfolio.
Just input your assets on their website or app, and you’ll have a real-time overview of your holdings and their current value, similar to a stock portfolio.
2. The Bullion Card
This Visa-managed Bullion Card offers APMEX-specific perks.
- 4% back in gold and silver for all APMEX purchases
- 1% back in gold and silver for all other purchases
- 15,000 bonus points ($150 value) after spending $1,500
- 0% introductory APR
3. APMEX AutoInvest
The AutoInvest program allows you to set up recurring metals purchases, like regular deposits, into your retirement account.
This program lets you choose from various metal products for auto-investment at different values, catering to all budgets.
4. OneGold
OneGold, APMEX’s digital precious metal offering, benefits you from rising gold and silver prices without physically holding the metals.
Open an account on OneGold’s digital platform to buy precious metals individually or set up auto investing, providing an accessible entry point for many investors.
5. Precious Metal IRA
Collaborating with custodian partners, APMEX allows investors to open or transfer an existing IRA. Once an account is established, investors can choose from any IRA-eligible products APMEX offers.
Remember that setting up a gold IRA with APMEX is free, but there is a $2,000 purchase requirement, and the IRS states that IRA account holders cannot hold their inventory.
To gain further insight into how APMEX compares with similar services, we’ve written posts on JM Bullion vs APMEX and BGASC vs APMEX. Be sure to check those out to compare the features.
APMEX Pricing
APMEX follows market demand for each specific metal, which means the minimum investment amount can vary.
To give you an idea of the range, we’ve looked at APMEX’s “most popular” metals products and sorted them by both the lowest and highest prices (as of August 14th, 2022):
- Lowest: 1/10 oz Silver Round – Buffalo at $5.69
- Highest: 1-kilo gold bar – Pamp Suisse at $59,882.27
As you can see, the pricing spectrum is quite broad, making it clear that you don’t need a massive initial investment to start building your precious metals portfolio with APMEX.
There’s an option to suit virtually any budget.
Pros of APMEX
- Automatic investing options
- IRA-eligible
- Wide product variety
- Easy, reliable purchasing
Cons of APMEX
- Market volatility
- Price fluctuation risks
- Occasional unresponsive customer service
Is APMEX Worth it?
Investing in these metals can be a smart move to hedge against inflation and economic downturns. APMEX provides various options, whether you prefer self-storage or custodial storage solutions for your gold or silver.
With an extensive selection of products and services, including a digital investing platform, APMEX simplifies the process for new investors and digital natives interested in precious metals.
You can avoid sketchy pawn shops and uncertified products while enjoying accessible pricing for investors at all levels.
To start building a tangible portfolio in precious metals, click here to sign up for APMEX today.
