Apmex, US Gold Dealer.

Reading Time: 14 minutes

When it comes to assessing whether APMEX is overpriced, it’s clear that opinions vary. Many buyers note that compared to several other bullion dealers, APMEX tends to have higher prices on their website. However, some have discovered that APMEX offers better deals on platforms like eBay, where prices are notably more competitive. This difference in pricing strategies raises questions about how they manage costs differently across platforms. For instance, while APMEX charges for delivery on their site, their eBay listings often come with free delivery, suggesting potential agreements or variations in fees. APMEX comes through with those hard-to-find bullion coins that you won’t spot elsewhere. That’s why I went for it. The coin I snagged had a steep $100 premium, almost 30% over spot – crazy, right? But, hey, it’s rare, and there’s probably a good reason you want it. Cross your fingers it’s not a re-strike, though. Coins from that era often got a redo, and telling the original from the knockoffs can be a headache.
Now, I highly doubt the French republics would mess with a coin featuring a twice-deposed emperor who kicked off wars across Europe, but who knows what happened under later French empires. A bit of research should clear that up. APMEX, though, is legit; you’ll likely get what they claim. While APMEX’s prices tend to run a bit higher than other online dealers, they offer enticing specials that can lead to good deals if you’re flexible. Consider making your purchases through Walmart with their 5% back credit card – most of their stock comes from either APMEX or Bullion Exchanges, and the prices are notably better with the 5% back.
Alternatively, buying from APMEX via eBay and using a cash back rewards card can also be a savvy move. Currently, with the 5% cash back, you can snag a 1 oz gold bar for $2,007, a 1 oz Krugerrand for $2,013.04, a 1 oz Maple for $2,015.89, a 2023 1 oz Gold Eagle for $2,054.68, and a 1 oz Buffalo for $2,058.64 – all right at or under spot.
We’re fortunate today to have multiple reputable sites with fair to middling service. This wasn’t always the case. Not too long ago, this subreddit was rife with tales of delayed shipments, random cancellations, and even orders arriving empty with a slit in the envelope. APMEX, however, stood out with unmatched customer service and reliability. They once rectified a mistake by sending me a single Roosevelt dime instead of a roll of Mercury dimes, demonstrating their commitment to customer satisfaction.
In an era of uncertainty, APMEX was a beacon of trust. Although I now prefer my local coin shop, there was a time when APMEX was the only online dealer I relied on, and for good reason. Plus, their free shipping on orders over $200 makes it easy to justify.”
Personally, no beef with APMEX – smooth sailing so far. But, truth be told, they’re usually rocking the higher price tags for coins. I’ve only hit them up when it’s a must-have for my collection. Not my top or even tenth choice, though.
As awesome as that coin is, I’d pass unless I’m rolling in dough. Check out other 20 franc French coins like the rooster (my fav), lucky angel, or Napoleon the Third – same gold content, $60-80 less online. And, if you’re on the hunt for a deal, r/pmsforsale is the gold (and silver) mine. Drop a ‘want to buy’ post, be clear on what you need, and trust folks with a solid sales history. Never let me down yet

The discrepancy in pricing also extends to the use of cryptocurrencies. Some customers have encountered issues with payments made via BitPay, APMEX’s chosen crypto payment method. Instances have been reported where payments were confirmed by the buyer but not recognized by APMEX, leading to order cancellations and unexpected fees. These incidents raise concerns about payment processing and customer support, impacting the overall buying experience.

However, despite potential pricing concerns, there are commendable aspects to APMEX’s service. Customers have praised their swift delivery and excellent packaging, with some orders arriving within an astonishingly short time frame. This reliability in shipping might justify the higher premiums for individuals who prioritize prompt and secure delivery over lower prices.

Apmex change the requirement for elite status from 10 orders to 50 orders .

Apmex has recently adjusted its rewards program, increasing the elite status requirements from 10 orders to 50 orders or a minimum spending threshold from 20k to 25k.

You was formerly an Elite member, but due to recent modifications, you find yourself now holding Premier status. Wondering why? Well, it appears that they’ve introduced a streamlined approach: once you’re approved for their Bullion credit card, you’re automatically elevated to Elite Status. It seems like their focus is shifting towards promoting the card rather than traditional sales. The straightforward strategy? Secure the Bullion card and instantly ascend to Elite status.

The shift in tier structures, as per their loyalty program and member activity evaluation, aims to better reflect and reward their customers. The primary objective was to genuinely acknowledge and reward the most loyal members of the Bullion Club, hence the transition to Premier status. While APMEX is renowned for its extensive collector-friendly offerings, it’s noteworthy that premiums and spot prices tend to run higher. Despite this, the swift shipping service stands out. As someone who frequently engages with various online dealers, my preference often leans toward the one that consistently offers the best deals and reasonably prompt shipping, which can fluctuate week to week and month to month.

The APMEX Club, also known as the Bullion Club, offers various benefits to its members.

Members are assigned club levels based on their purchase activity, and each level comes with its own set of benefits. These benefits can include free shipping on domestic U.S. shipments, advance notice of promotions, expedited order processing, exclusive offers, and more. Once a member achieves Elite status, they will maintain this status for the remainder of their time shopping with APMEX. The Bullion Card, a membership card offered by APMEX, also provides access to the Elite Club and its associated benefits. Members can contact APMEX’s Customer Service Department for any questions about the Bullion Club or the Bullion Card.

  1. Smart Notifications: Members receive timely notices of promotions and alerts.
  2. Exclusive Early Access to Flash Sale Offers: Members get early access to exclusive flash sales and limited offers.
  3. Members-Only Offers and Promotions: Exclusive offers and promotions are available only to club members.
  4. Anniversary Gifts: Members may receive special gifts to commemorate their time as part of the club.

The club has different tiers, and the benefits increase with each tier. For example, at the Platinum level, members may enjoy same-day shipping on credit card/bank wire orders and discounted secure shipping.

CategoryRequirement
PremierComplete a minimum of 2 orders or spend/sell a total of $10,000
EliteComplete a minimum of 50 orders or spend/sell a total of $25,000
VipSpend/sell a minimum of $100,000
Vip+Top 1,000 customers by invitation only

In contrast, experiences with APMEX’s customer service have been mixed.

Some customers faced challenges when their orders were canceled or encountered complications with payment processing, leading to frustrations with the company’s handling of these issues.

Comparing prices between APMEX and other dealers showcases fluctuations. For instance, a Bison Head priced at $303.30 USD cash with free US shipping on APMEX might be available for $252.45 USD cash with an additional $6 US shipping fee at another dealer like Kearney. This substantial price difference underscores the variability in costs across different platforms and dealers in the bullion market.

Despite a generally perceived higher cost compared to other retailers, my experience with APMEX has been trouble-free. I acquired gold during the years 2014-15 when premiums were reasonable, but now they appear excessively high. However, their shipping has consistently been reliable. I even received surprise gifts for a period, adding a cool touch to the experience. On the other hand, purchasing directly from the mint presented a different set of challenges. For potential buyers, it’s advisable to always compare sellers, and some noteworthy alternatives include Liberty Coin, SD Bullion, JM Bullion, Money Metals, Bold Precious Metals, and Monument Metals.

Apmex Bullion Card Insights: Assessing Benefits and Recent Changes.

An interesting point to highlight is that, according to recent changes, once approved for the Bullion credit card, individuals are automatically elevated to Elite Status. This strategic move appears to emphasize the card’s benefits over traditional sales methods.

City Stacker, Should You Get the APMEX Bullion Card?

The video delves into the benefits of the Bullion Card, such as 4% back in gold and silver on APMEX and OneGold purchases, 1% back on other purchases, and a $150 value in bonus points after spending $1,500. The benefits also include no annual fee, points that never expire, priority on order fulfillment, occasional best-tier pricing offers, and exclusive price match guarantees.

While the card offers advantages, the video discusses some cons, such as the variable APR of 19.49% to 29.49%, the $150 bonus not being as competitive as other cards, and rewards being redeemable only at APMEX.

Our opinion on Apmex Bullion Card.

Exploring the APMEX Bullion Card reveals a mix of enticing benefits and notable drawbacks. On the positive side, the card offers a tempting 4% cash back for purchases of gold and silver from APMEX. Additionally, a $150 cash back incentive after spending $1500 can be a significant saving, especially when applied to high-value items like an ounce of gold. The card essentially allows credit card users to secure the same price as cash transactions.

However, the drawbacks are noteworthy.

The 1% cash back on all other purchases, limited to spending at APMEX, may not be as enticing, especially considering APMEX’s generally higher prices compared to other bullion dealers. The vast product selection of 40,000 items adds a layer of uncertainty about the inclusion of good deals. Concerns about APMEX’s pricing being generally higher than other dealers are reiterated, raising questions about the issuing bank or entity and the extent of personal information shared with APMEX.

Furthermore, the card’s public visibility raises a unique concern – using it in public might disclose to strangers that the cardholder is a bullion buyer, which may not align with everyone’s preferences for privacy. The realization that the 4% back only offsets the credit card fee when purchasing from APMEX adds a practical consideration. While it might be worthwhile for regular APMEX purchasers, the limitation of using points exclusively for future APMEX purchases, combined with generally higher APMEX prices, may diminish its overall appeal.

Some users find value in the card’s sign-up bonus and elevated points back during events like Black Friday. However, personal preferences, the desire to minimize credit cards, and infrequent use led to cancellations for some individuals. Additionally, the APMEX credit card website’s perceived primitiveness in comparison to other major cards adds a nuanced observation. Despite the card’s regular credit features, the consensus leans toward a cautious approach, with users exploring alternative avenues for better returns, such as the eBay 3.3% back coupled with Liberty or Bullion Express.

Buy gold with bitcoin with APMEX

Apmex’s acceptance of Bitcoin provides an alternative payment method for those interested in acquiring precious metals.

A Valuable Resource for Bitcoin Newcomers.

If only I had access to the informative Apmex video when I first started with Bitcoin last year, I wouldn’t have faced so many difficulties. As I mentioned before, I purchased my gold using Bitcoin from SilverGoldBull in Canada, and the process was smooth and quick, with the items arriving within days. However, my recent order of 2 JM Rounds has been held up in customs for over a week, and today I received five sheets of forms that need to be sent back. I’m concerned about possible additional charges on the way.

shipring to UK for orders paid in Bitcoin,

While chatting with Apmex, I discovered that they do ship to the UK for orders paid in Bitcoin, which is useful information. It’s puzzling why my gold coins from Canada arrived quickly without any issues, but my QSB order is experiencing significant delays and potential extra tax or import duty. Another JM subscriber suggested that the difference in treatment might be due to one order being for legal tender coins (although my initial purchase was a Pamp 1oz bar) and the other being for gold rounds. If I pay the extra tax and raise this question, they might investigate and charge me retroactively. It’s discouraging to see such discrepancies when buying from the US.

On another note, I’m glad that I converted my Bitcoin profits into gold along the way, despite some people suggesting it was a mistake. I believe in the old saying, “A bird in the hand is worth two in the bush.” Currently, I’m refraining from purchasing anything, be it cryptocurrencies or precious metals. I’m eagerly awaiting the arrival of a fully sealed 1964 Uncirculated Silver Proof US Mint Coinage Coin Collection from eBay, which cost less than a Tenner (£). I’m particularly excited about the eight-sided Philly US Mint coin, reminiscent of our old ‘Thrupenny Bit.’

Although Bitcoin has its flaws, such as being slow and expensive, I’ve always used Litecoin to pay for metals, and the transaction completes within two minutes from start to finish. Being in the UK, I rely on Bitgild in Europe, which accepts approximately 20 cryptocurrencies as payment.

Option to convert Bitcoin into Gold.

It’s essential to have an exit strategy for cryptocurrencies, especially with the recent extreme volatility in the financial and crypto markets. Bitcoin, for example, experienced significant price fluctuations, with its value surging to almost $20,000 in November before dropping below $8,000 recently. Many people regret not selling at the peak and moving their profits to more secure and stable assets like precious metals. Today, we discussed exit strategies, primarily focusing on cryptocurrencies. Personally, I need to plan an exit strategy for the small amount of crypto I hold, in case it ever becomes more valuable. Apmex offers an option to convert Bitcoin into precious metals, and they provide instructions on their website. They recommend using a reliable Bitcoin wallet like Bitpay, Copay, Mycelium, Airbitz, Electrum, Bitcoin Core, or Bitcoin.com to make payments. Bitcoin payments qualify for a 3% cash discount, which is a significant advantage.

Risks associated with using Bitcoin to purchase precious metals with Apmex.

The lack of privacy, potential price fluctuations, uncertainty surrounding the future of Bitcoin, and the absence of buyer protection are some factors to consider. However, Apmex offers a quick and efficient shipping process, ensuring that orders are processed and shipped promptly once payment clears. Buyers receive email confirmations with tracking numbers to monitor their shipments.

Comparing Apmex.

APMEX Vs JM Bullion .

While both APMEX and JM Bullion are known for their competitive pricing, JM Bullion generally has a lower spot price than APMEX. However, the premiums for both companies are for large orders only, so smaller amounts will pay a higher premium. For years, JM Bullion uses to have the lowest prices anywhere 99% of the time, but not the case anymore, both firm are very similar in prices or even Apmex is cheaper in 2024.

ProductsJM Bullion offers a variety of bullion products, including coins, bars, and rounds. These products are available in different weights and purities to suit the needs of investors and collectors
APMEX offer a wide-ranging selection of gold coins from esteemed sovereign mints, including the American Gold Eagle, Canadian Gold Maple Leaf, South African Gold Krugerrand, and Chinese Gold Panda coins, available in various weights and purities, catering to the preferences of both investors and collectors. Additionally, we provide a diverse array of gold bars, including 1 oz, 10 oz, and 1-kilogram bars, meticulously crafted by renowned mints and refineries like PAMP Suisse, Credit Suisse, and the Royal Canadian Mint, offering a convenient and cost-effective avenue for gold investment, often featuring lower premiums compared to coins.
ServicesBuying, selling, and loansBuying, selling, auto investing, storage, credit card, portfolio management
ShippingJM Bullion offers free shipping to our customers when you spend over $199, orders under $199 will be charged a shipping fee of $9.95., but only in the U.S. and U.S. military boxesAPMEX offers free shipping to our customers when you spend over $199, orders under $199 will be charged a shipping fee of $9.95.
Minimum OrderYes (applies to bank wire only)None
StorageSecure storage for orders over $3,000 (6 months free)Yes.  Citadel fees are about .55%
FeesShipping costs (for orders under $199), storage cost, cancellation fee the difference between the Purchase Price and the Asking Price will be charged.$35 order cancellation fee, storage fee
Google Overall Rating4.1 rating based on 5 ratings4.5 rating based on 5 ratings

JM Bullion and APMEX are two popular online retailers that specialize in selling physical gold, silver, platinum, and palladium bullion products. Both companies offer a variety of bullion products, including coins, bars, and rounds, from internationally-recognized sovereign mints and private mints and refineries. JM Bullion works directly with mints and distributors to ensure the quality of its products, while APMEX offers exclusive products, such as lunar coins and Bible coin series. Both companies offer free shipping on orders over a certain amount and have a clearance section where customers can find discounted products. Overall, customers can find a wide range of precious metals products to suit their investment or collecting needs from these reputable online dealers.

Today (18/09/2023) Stores price check
JM Bullion

APMEX
20 Francs Swiss Gold Coin – Helvetia (for 1 coin)$396.45$397.23
50 Peso Mexican Gold Coin (Random Year, Varied Condition, 1 coin)$2,474.50 $2,439.77
France Gold 20 Francs French Rooster Coin $405.62$382.30
South African 1 oz Gold Krugerrand Coin BU (Random Year)$2,046.03$2,025.19

The answer to whether APMEX is better than JM Bullion is subjective and depends on individual preferences. Here are some points to consider:

APMEX:

  • Offers a slightly wider selection of gold coins compared to JM Bullion.
  • Considered the best overall online gold dealer by Investopedia.

JM Bullion:

  • Generally use to have a lower spot price than APMEX. As the time we checked APMEX HAVE BETTER PRICES
  • Considered to have the best customer experience among online gold dealers by Investopedia
  • weekly sales present the opportunity to buy bullion at a slight premium over spot
  • Offers loans through a partnership with Collateral Finance corporation.

According to a Reddit thread from a few years aga, JM Bullion is always cheaper on everything, but APMEX has a wider selection. However, a Forbes article suggests that APMEX offers more guidance than JM Bullion. A detailed comparison by Digital Financing Task Force mentions that although APMEX does not offer loans, JM Bullion does. Ultimately, the choice between APMEX and JM Bullion depends on individual preferences such as selection, pricing, customer experience, and loan options.

Walmart Vs APMEX .

Can you believe that Walmart is actually selling Silver and Gold Bullion now? I mean, it might sound surprising, but it’s true! While we all know that Amazon offers bullion at premium prices, Walmart, of all places, is giving them some stiff competition.

In fact, I’ve noticed that for certain items, Walmart’s prices are even lower than what you’d find on APMEX.COM. Even lower than the famous Costco gold bars

What’s even more enticing is that if you happen to have a Walmart credit card, you can get a sweet 5% cashback on these orders. Plus, they offer the convenience of credit card payments and lightning-fast shipping.

I decided to give it a shot, and I must say I was pleasantly surprised. My order was delivered in just 4 days – talk about awesome service! Back in my early days of stacking, I used to buy from APMEX and paid quite a bit for the same items. This Walmart deal more than makes up for what I spent back then. One interesting thing I’ve observed is that Walmart tends to sell out on Saturdays, but the items magically reappear in stock on Sunday or Monday. It’s possible that they manually manage inventory on Walmart’s marketplace platform, which could explain this delay compared to a direct real-time inventory feed.

So, who’s up for giving this a try? It might just be your new go-to place for bullion shopping!

Previously, SD Bullion was a vendor on Walmart’s platform; however, as of 2020, they ceased their association. Given my participation in online surveys, which rewards me with gift cards for various establishments, I have managed to acquire approximately 200 troy ounces of silver over the past two to three years by redeeming these gift cards for bullion purchases from Walmart and Apmex.

Unfortunately, I recently encountered an issue with Walmart’s policy regarding gift card usage for silver and gold coin and bullion purchases. This practice had been a monthly routine for me for over a year, but suddenly, it came to a halt. I received a notification citing location restrictions, resulting in the cancellation of my orders. I found this decision to be quite vexing, as Walmart had previously permitted the exchange of gift cards for precious metals. Regrettably, they altered their policy a few months ago, now automatically canceling orders and citing location restrictions, when in reality, it appears to be Walmart’s reluctance to accept gift cards in exchange for gold and silver.

Don’t forget the additional 5% off from the price.

Are you considering the inclusion of the 5% cashback offered by the Walmart Mastercard in your overall calculations? When you perform the arithmetic, it becomes evident that one can acquire an ounce of gold from Walmart.com at a price $16 below the market spot rate. I have reservations about whether other reputed cheap dealer like Gainesville can match this offer. SD Bullion, on the other hand, is only $10 cheaper than Walmart when it comes to bar gold. Consequently, it may not represent as significant a bargain as initially perceived.

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