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APMEX Review

APMEX Review

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APMEX, short for American Precious Metals Exchange, is a well-established precious metals dealer with a strong presence in the industry. Founded in 1999 and headquartered in Oklahoma City, APMEX has become one of the largest online retailers of precious metals, offering a wide range of products to individual investors and collectors.

With its extensive inventory and commitment to exceptional customer service, APMEX aims to provide customers with a seamless and reliable buying experience.

The company has built a solid reputation for its reliability, transparency, and competitive pricing, making it a popular choice among precious metals investors.

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  • Products: Precious Metals
  • Owner: Kenneth Lewis (CEO)
  • Rating: 4.2/5

APMEX prides itself on its vast selection of bullion coins, bars, and rounds, including gold, silver, platinum, and palladium products. They source their precious metals from reputable mints and refineries worldwide, ensuring the authenticity and quality of their products.

Additionally, APMEX offers a variety of IRA-approved precious metals, allowing investors to incorporate these assets into their retirement portfolios.

The company's user-friendly website provides a wealth of information, including real-time pricing, market news, educational resources, and live customer support.

APMEX's commitment to customer satisfaction is evident in its A+ rating from the Better Business Bureau (BBB) and consistently positive customer reviews.

In this review, we will delve deeper into APMEX's products, services, pricing, customer support, and overall reputation to understand what the company has to offer comprehensively.

What Does APMEX Offer?

APMEX Review

APMEX is a leading provider in the precious metals industry, offering investors a wide range of products and services.

❑ Extensive Product Selection

APMEX boasts an extensive inventory of precious metal products, including gold, silver, platinum, and palladium coins, bars, and rounds. They source their products from reputable mints and refineries worldwide, ensuring authenticity and quality.

❑ Bullion Card

APMEX has introduced a unique offering called the Bullion Card, a Visa credit card specifically designed for precious metals enthusiasts. Cardholders earn rewards in the form of gold and silver for their purchases.

They receive an introductory 4% back in gold or silver for APMEX purchases and 1% for all other transactions. The card provides additional benefits such as 0% introductory APR, balance transfers, and exclusive offers.

❑ AutoInvest

APMEX understands the importance of regular investing in precious metals, regardless of market fluctuations. With their AutoInvest feature, investors can set up recurring purchases of their desired precious metals.

They can choose from weekly, biweekly, monthly, or quarterly schedules, allowing them to accumulate metals over time and take advantage of cost averaging.

❑ Precious Metal IRA

APMEX offers Precious Metal IRAs, allowing investors to include precious physical metals in their retirement portfolios. APMEX facilitates opening and managing these IRAs through their partnership with custodian partners.

Investors can transfer existing IRAs or establish new ones, benefiting from precious metals' potential diversification and stability.

❑ APMEX Club

APMEX rewards its loyal customers through the APMEX Club membership program. Customers can qualify for different membership levels by meeting specific purchase thresholds and unlocking benefits such as special sales, exclusive offers, and personalized account managers. The program aims to enhance the overall customer experience and provide additional value.

❑ OneGold

APMEX has partnered with OneGold to offer a digital precious metals platform. Through OneGold, investors can buy, sell, and store gold and silver digitally.

This digital ownership provides a convenient and accessible way to invest in precious metals, particularly for those new to the market or seeking alternative investment options.

❑ Cryptocurrency Payment

APMEX embraces innovation by accepting cryptocurrencies as payment. Customers can purchase using Bitcoin, Ethereum, and Dogecoin through APMEX's partnership with BitPay. This allows crypto investors to diversify their portfolios by acquiring precious metals using their preferred digital currencies.

❑ Buyback Program

APMEX offers a buyback program, providing investors with a straightforward option to sell their precious metals to the company.

This program eliminates the hassle of finding buyers or navigating third-party marketplaces, making it more convenient for customers looking to liquidate their holdings.

Fees and Limits

APMEX employs a transparent fee structure for its products and services. Here are some key details regarding fees and limits:

  • Pricing: APMEX prices its products based on market demand, meaning prices can vary depending on the specific metal and prevailing market conditions. Once you place an order, the price is locked in, ensuring transparency and certainty in your transaction.
  • Commissions: APMEX does not charge any commissions on purchases. The price you see for a particular product is the price you pay.
  • Free shipping: Orders over $199 qualify for free shipping within the United States, providing added value to customers.
  • Cancellation fee: If you need to cancel an order, please note that APMEX charges a cancellation fee of $35. It is essential to review your order carefully before finalizing it to avoid incurring this fee.
  • Payment method fees: Different payment methods carry specific fees. When paying with a credit card or using cryptocurrencies, such as Bitcoin, Ethereum, or Dogecoin, a 4% fee applies. On the other hand, making direct payments via check or wire transfer entitles you to a 4% discount.
  • Minimum requirements: APMEX has minimum purchase and selling requirements for certain services. For instance, opening a precious metals IRA through APMEX requires a minimum purchase of $2,000. When selling precious metals back to APMEX, investors must sell at least $1,000 worth of metals at a time.

Opening an IRA Account with APMEX

Opening an IRA account with APMEX is a straightforward process that involves various steps.

📄 Research and Consultation

Before opening an IRA account, conducting thorough research and understanding the benefits and implications of incorporating precious metals into your retirement portfolio is essential.

Consider seeking advice from a financial advisor or tax professional to ensure it aligns with your investment goals and retirement planning.

📄 Choose a Custodian

APMEX works with various custodian partners who specialize in self-directed precious metals IRAs. These custodians are responsible for overseeing and administering your IRA account.

Selecting a reputable custodian that meets your specific requirements and provides the services you need is crucial.

📄 Complete the Application

Once you have chosen a custodian, you must complete an application to open an IRA account. The application will require personal information, such as your name, address, Social Security number, and employment details.

Additionally, you may need to provide information about your existing retirement accounts if you plan to transfer funds.

📄 Fund Your IRA

After your application is approved and your IRA account is established, you must fund the account. APMEX offers a wide range of IRA-approved precious metals products that you can choose from.

You can purchase directly through APMEX, and the funds will be transferred from your IRA account to complete the transaction.

📄 Storage and Administration

Precious metals held within an IRA must be stored in an approved depository or storage facility to comply with IRS regulations. Your chosen custodian will assist you in selecting a reputable storage provider and facilitate the transfer of your metals to the storage facility.

The custodian will also handle administrative tasks related to your IRA, such as reporting and record-keeping.

Pros and Cons of APMEX


  • Extensive selection: APMEX offers various precious metals, giving investors diverse options. Whether you're interested in gold, silver, platinum, or palladium, APMEX has an extensive inventory to cater to your needs.
  • Automatic investing: APMEX provides automatic investing options through its AutoInvest feature. This allows investors to set up recurring purchases, enabling them to invest in precious metals regardless of price fluctuations regularly. It simplifies the investment process and promotes disciplined investing.
  • IRA-eligible: APMEX supports precious metals IRAs, allowing investors to include precious physical metals in their retirement savings. By opening an IRA account with APMEX, individuals can enjoy the potential benefits of both precious metals and tax advantages offered by IRAs.


  • Payment method fees: APMEX charges a 4% fee for specific payment methods, such as credit cards or cryptocurrency. While this payment options offer convenience, the additional expense can impact the overall cost of the transaction. It's essential to consider the fees associated with different payment methods when purchasing.
  • Storage and shipping fees: APMEX's storage and shipping fees may be slightly higher than other platforms. Investors should consider these fees when calculating the total cost of acquiring and storing their precious metals. Reviewing and comparing the prices with other providers is advisable to ensure cost-effectiveness.

Benefits of Investing in Precious Metals IRA

APMEX Review

Investing in a precious metals IRA can offer several benefits for investors.

❐ Diversification

Precious metals, such as gold, silver, platinum, and palladium, have historically demonstrated a low correlation with traditional financial assets like stocks and bonds. Adding precious metals to your IRA can help diversify your investment portfolio and reduce overall risk.

During economic uncertainty or market volatility, precious metals have often served as a hedge and a store of value.

❐ Inflation Hedge

Precious metals are often considered a hedge against inflation. When inflation rises, the purchasing power of fiat currencies may decline, but the value of precious metals has the potential to increase.

By including precious metals in your IRA, you can protect your wealth and purchasing power over the long term.

❐ Portfolio Protection

Precious metals have a track record of maintaining value and acting as a haven during times of financial crisis. They can protect portfolios against market downturns, currency fluctuations, and geopolitical uncertainties. In economic instability, precious metals have often shown resilience and retained value.

❐ Potential for Growth

Precious metals have the potential for long-term capital appreciation. Over the years, gold and other precious metals have experienced significant price increases, making them attractive investments for those seeking potential growth opportunities. As global demand for precious metals rises, their value may appreciate over time.

❐ IRA Tax Advantages

You can enjoy the tax advantages of retirement accounts by including precious metals in a self-directed IRA, such as a Traditional IRA or Roth IRA.

Depending on your type of IRA, contributions may be tax-deductible or tax-free, and earnings can grow tax-deferred or tax-free. This can provide potential tax benefits and help you maximize your retirement savings.

❐ Long-Term Preservation of Wealth

Precious metals have a long history of preserving wealth over time. Unlike fiat currencies that can be subject to devaluation and economic fluctuations, precious metals have maintained their intrinsic value for centuries. Including them in your IRA can provide a long-term strategy for preserving and growing wealth.

❐ Tangible Asset Ownership

Precious metals offer the advantage of tangible asset ownership. Unlike stocks or bonds representing ownership in a company or debt instrument, owning physical gold, silver, platinum, or palladium gives you a direct and tangible asset that you can hold and store securely. This can provide a sense of security and peace of mind.

❐ Limited Supply and Industrial Demand

Precious metals are finite resources with limited supply. The demand for these metals extends beyond investment purposes and includes industrial applications in various sectors, such as electronics, medical devices, and renewable energy.

This dual demand for precious metals can contribute to their long-term value and investment appeal.

❐ Global Acceptance and Liquidity

Precious metals have global acceptance and liquidity. They are recognized and traded in markets worldwide, making them highly liquid assets. In times of financial uncertainty or needing to access funds, you can quickly sell or exchange your precious metals for cash or other assets.

❐ Protection Against Geopolitical Risks

Precious metals can hedge against geopolitical risks and global economic instability. They are not tied to the performance of any specific country or government, making them resilient in times of political turmoil, currency fluctuations, or economic crises. Including precious metals in your IRA can protect against such risks.

❐ Estate Planning and Legacy Protection

Precious metals in an IRA can be passed on to beneficiaries as part of your estate planning. They can help preserve and transfer wealth to future generations. Precious metals have a tangible and enduring value, making them a valuable component of a comprehensive estate plan.

What Type of Precious Metals Should You Include in an IRA?

APMEX Review

You can include certain precious metals in an IRA that meet the Internal Revenue Service (IRS) requirements.

⬜ Gold: The IRS permits the inclusion of gold coins and bars that meet specific purity requirements. Examples of eligible gold coins include American Gold Eagles, Canadian Gold Maple Leafs, and Australian Gold Kangaroos. Gold bars from reputable refineries that meet the required purity standards, such as 99.5% or 99.9% purity, are also eligible.

⬜ Silver: Eligible silver coins for IRAs include American Silver Eagles, Canadian Silver Maple Leafs, and Austrian Silver Philharmonics, among others. Silver bars from approved refiners that meet the required purity standards, such as 99.9% purity, can also be included.

⬜ Platinum: The IRS allows the inclusion of platinum coins and bars in IRAs. Examples of eligible platinum coins include American Platinum Eagles and Canadian Platinum Maple Leafs. Platinum bars from approved refineries meeting the required purity standards, typically 99.95% purity, can also be included.

⬜ Palladium: Palladium coins and bars that meet IRS requirements can be included in IRAs. Examples of eligible palladium coins include Canadian Palladium Maple Leafs and Russian Ballerina Palladium coins. Palladium bars from approved refineries meeting the required purity standards, typically 99.95% purity, are also eligible.

It is important to note that not all coins or bars of these metals are eligible for inclusion in an IRA. They must meet the IRS's specific criteria regarding weight, purity, and authenticity.

Additionally, the IRS has specific restrictions on collectible or numismatic coins, so it is advisable to consult with your IRA custodian or a precious metals specialist to ensure the compliance of the chosen metals.

Types of IRA Accounts

Three main types of IRA accounts can hold precious metals:

#1. Traditional IRA

A Traditional IRA is a retirement account that allows individuals to make pre-tax contributions. The funds in a Traditional IRA grow tax-deferred, meaning you don't pay taxes on the investment gains until you withdraw during retirement.

Precious metals, such as gold, silver, platinum, and palladium, can be held in a Traditional IRA. However, the IRS has specific requirements for the types of precious metals that qualify, including minimum fineness standards.

Working with an IRA custodian or trustee who allows for precious metals investments and has expertise handling these assets is essential.

#2. Roth IRA

A Roth IRA is another type of individual retirement account where contributions are made with after-tax dollars. The funds in a Roth IRA grow tax-free, and qualified withdrawals in retirement are also tax-free.

Like a Traditional IRA, a Roth IRA can include precious metals as part of its investment holdings. The exact IRS requirements for qualifying precious metals apply.


A Simplified Employee Pension Individual Retirement Account (SEP IRA) is designed for self-employed individuals and small business owners. Contributions to a SEP IRA are tax-deductible and grow on a tax-deferred basis.

While precious metals can be included in a SEP IRA, following the IRS guidelines for eligible metals and working with a custodian specializing in precious metals IRA accounts is essential.

Selecting the Right Precious Metals Dealer

When selecting a precious metals dealer for your investment needs, there are several factors you should consider. Here's what you should keep in mind:

  • Reputation and trustworthiness: Look for a dealer with a solid reputation in the industry. Research their background, check customer reviews, and verify their credentials. A reputable dealer should have a long-standing presence, be accredited by relevant organizations, and have positive customer feedback.
  • Product selection and availability: Ensure that the dealer offers a wide range of precious metal products, including gold, silver, platinum, and palladium, in various forms, such as bars and coins. They should have a diverse inventory to meet your investment preferences and goals. Also, check if they have sufficient stock and can promptly fulfill your orders.
  • Pricing and fees: Compare prices among different dealers to ensure you are getting competitive rates. While pricing may vary based on market conditions, transparency in pricing is essential. Consider any fees associated with your transactions, such as shipping charges, storage fees (if applicable), and commissions. It's necessary to have a clear understanding of the total costs involved.
  • Security and storage: If you prefer physical possession of your precious metals, inquire about the dealer's storage options. They should offer secure and insured storage facilities to safeguard your investments. If you store the metals yourself, ensure they provide reliable packaging and shipping methods.
  • Customer service: Good customer service is crucial when dealing with precious metals. Look for a dealer that provides responsive and knowledgeable customer support. They should be accessible through multiple channels, such as phone, email, or live chat, and be able to address your questions, concerns, and order-related issues promptly.
  • Buyback program: Check if the dealer offers a buyback program, allowing you to sell your precious metals back to them when needed. A reliable buyback program ensures liquidity and provides an exit strategy if you sell your holdings.
  • Industry experience: Consider the dealer's experience and expertise in the precious metals market. An established dealer with extensive industry knowledge can offer valuable insights and guidance to assist you in making informed investment decisions.

Withdrawing from Precious Metals IRA

APMEX Review

When withdrawing funds from a Precious Metals IRA, the rules differ slightly depending on whether you have a traditional IRA or a Roth IRA. Additionally, traditional IRAs have required minimum distribution (RMD) rules that apply once you reach a certain age. Here are the critical withdrawal rules for each type of IRA:

Traditional IRA

⬜ Age requirements: You can start taking penalty-free withdrawals from a traditional IRA once you reach the age of 59½. However, you can withdraw as early as age 55 if you separate from service with your employer.

⬜ Tax mplications: Withdrawals from a traditional IRA are subject to income tax. The amount withdrawn is added to your annual taxable income and taxed at your ordinary income tax rate.

⬜ Required minimum distributions (RMDs): Starting at age 72 (as of 2021), you must take annual RMDs from your traditional IRA. The RMD amount is calculated based on your age and the account balance—failure to take the RMD results in a hefty penalty.

⬜ Early Withdrawal Penalty: If you withdraw funds from a traditional IRA before 59½, you may be subject to an early withdrawal penalty of 10% unless an exception applies.

Roth IRA

⬜ Age requirements: Contributions to a Roth IRA are made with after-tax dollars, so you can withdraw your contributions anytime without incurring taxes or penalties. However, to take tax- and penalty-free withdrawals of earnings, you must meet two conditions: (a) you must be at least 59½ years old, and (b) the account must have been open for at least five years.

⬜ Tax mplications: Qualified withdrawals from a Roth IRA are tax-free since contributions have already been taxed. Non-qualified withdrawals of earnings may be subject to income tax and a 10% early withdrawal penalty.

⬜ No RMDs: Unlike traditional IRAs, Roth IRAs do not have RMD requirements. You can leave the funds in the account for as long as you wish, allowing for potential tax-free growth.

Final Thoughts

APMEX is a legitimate company that offers a wide selection of precious metals and automatic investing options and supports precious metals IRAs. They have established themselves as a reputable player in the precious metals industry.

However, it's worth noting that other companies in the market offer more competitive and comprehensive IRA services.

While APMEX provides a solid platform for purchasing and storing precious metals, other companies offer better IRA services with lower fees, more robust custodian partnerships, and a more comprehensive range of investment options.

It's important for individuals considering an IRA investment to carefully evaluate their options and compare the services, fees, and reputation of different companies.

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Before you are making an investment, make sure that you are choosing a trusted company to help you with your investment.

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