Feedback on APMEX

Made my second APMEX purchase recently. With silver dropping to low $31 I couldn't resist not pulling the trigger.
I've wanted to buy 100 ounces and I did.

I purchased 10 ounces with them before and it was shipped via USPS.

This time it stated USPS again but it was shipped via FEDEX, and I received an email notification with tracking and received the package within 3 days.

The package was sealed very tightly and packed with cushioning.
Within the package they packed 2 boxes which again were sealed tight and packed with cushioning.

One contained 2 and another 3 rolls of 20 Ounces each.

They were sent in original mint rolls. I don't know if the mint seals their rolls in any specific way but these were not sealed with any kind of tape that would have been from the mint.
The same tape used to seal the boxes was used around the plastic mint rolls.
More than likely all the coins were searched.
I might use mint direct next time if silver keeps at this price or lower, what's $50-$100 when there are much bigger gains to be made in the future.

Overall great experience. I'm using the APMEX boxes to store all the tubes as well as my previously purchased bullion.

104 Ounces now, plenty more to go!

 

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I bought from apmex once,they did ship fairly quickly the big problem though was their insane shipping costs.

There are usually much cheaper places to go with.

 

They can be expensive to ship. Don't forget to search for coupons online - it's not often that I have to pay full shipping because there are usually coupons floating around

 

I only paid $29.99 shipping on a 9lb package delivered in 3 days.

Gainsville quoted the same amount, via ground (5 days).

I did do some shopping but I'll take security with APMEX over saving $10 any day. Especially with a large purchase like this.

Provident was the cheapest, $10 less (5-10 days delivery), but as I said, having bought with APMEX without issues I like the security of shopping with them.
With the measures they took in ensuring my package was sealed tight and packed (within all three boxes) with packing material it was worth the $10 and not having USPS throw it at my doorstep.

 

Did try some coupons but all were expired :/

 

I don't see any reason to pay extra for "mint sealed" tubes. use the money for another ounce. are you going to grade the coins? and to do that you have to unseal them anyway.

 

Congrats on your purchase.

Unless the item was described as "mint sealed", they most certainly picked through the tubes.

I suppose some people do buy mint sealed boxes/tubes in the hopes of having them graded and getting some MS69 or MS70 coins in the lot. I haven't done the math to figure out what find rate needs to be to make it economically worthwhile, but my time is better spent on other things I think.

 

I have generally been pleased with them, but they are getting more competition so they will have to stay on their toes.

I got a call from them on their "storage" option: http://www.apmex.com/citadel/default.aspx

What happens if such a customer gets run over by a truck or gunned down by accident? Is this a case where someone is able to gobble up the goodies accidentally on purpose if no one knows about this storage issue, or a situation where probate lawyers fight over the issue for months while charging the deceased individual's estate $500 an hour for paper pushing???

 

That is an interesting question about Ampex. i.e. if you put PMs in someone else's safe, what are the legal issues surrounding the death of the owner of the PMs.

As for the OP's question, I give AMPEX high marks. They are good to deal with and there shipping is top notch. As noted, however, this isn't the place for small purchases.

 

Another concern: I shipped them a bunch of Morgans that they indicated certain price levels based on their grading and inspection with a base minimum price. There was quite a range in quality with no real culls. When they arrived they never paid more than the base price.

 

They are a very good company with decent prices and excellent customer service. Shipping is higher than others though. I wish they would bring back their 5% and 10% off discounts even on smaller purchases as they did in the past. TC

 

is there another place with comparable service that doesnt charge so much for shipping? i want to start ordering an oz or 2 every pay but with their shipping prices it equals out to about $50 an oz since they want $12.99 to ship a $38 oz of silver. at that price it would take 20 years to even be able to get my money back at spot.

 

if you plan on ordering 1 or 2 oz Ebay is your best bet.

There is this one guy on Ioffer.com whom people where talking about in another forum post. I can not speak to him personally since I have not personally ordered, but he looks legit.

http://www.ioffer.com/selling/globalgoldxchange

 

great prices. i may give him a try. just wish he had more selection. im really itchin for one of the 2012 year of the dragon bars apmex has. thanks for the link

 

if you do let me know how it gos. His prices are basically the best you can hope for or darn close from a big company.

Provident has some very nice looking house rounds done in the same style as the year of the dragon perth mint rounds.

I recommend if you do buy off that guy on Ioffer get the johnson and matthey freedom rounds. they were 34 each but i know from personal experience those exact coins carry a pretty good premium when you resale (i have a bunch) If I got some rounds form him, most or all would be the JnM freedom rounds. I think he also had ausi kookaburas for just 34 each too which is also a great buy those carry big premiums as well on resale.

 

thanks for the tips i really appreciate it. i'll probably order from them in the next couple of weeks. i think i want to get another silver eagle and 1/2 and 1 oz silver year of the dragon bars first.

was going to make another thread for this but i'd like to pick your brain a bit if you dont mind.

i know alot say buying coins like ase's arent worth the premium of bars most times except when only planning to sell from collector to collector but im wondering when the time comes that i need or want to sell is one harder to sell than the other? say 2002 ngc ms-69 ase vs random silver bar?

 

An ASE is almost aways an easier to sell over a random silver bar. You can take it to any coin shop/show/pawn store and you won't have an issue unloading it.

 

Yes certain bars will be easier to sell.

Honestly from a invester/ silver stacker standpoint. What is probably most important is getting silver that you can get for as close to melt or even under melt if possible (junk silver works well for this)

Because if you pay a 5 dollar per round premium on a fancy coin, i am sure you'll feel like you should be able to get it back plus the price of silver when you do sell. However no everyone likes the idea of paying $5 premiums per coin for silver.

I will say that the ASE and maple leaf are two of the easier to sell overall. Because every single person knows of them and trusts them. Not everyone trusts joe blows silver factory bars .

I personally say stay away from those graded Bullion coins. There is just not nearly as big a market of people willing to pay 100 bucks for that 35 dollar oz of silver simply because its in a nice case. Those people do exist but there are vastly more who just want any old silver when they buy.

Whenever I buy from a big company like apmex or provident or whoever. I 9 times out of ten just get the silver rounds I can get for the best price.

Start off small with the Ioffer guy like keep it under 200 bucks imo. Like I said he seems legit but i never used him yet so test the waters.

Also for your dragon round (which yes they are totally cool and i want one to just keep myself) try provident they are usually cheaper then apmex and have a huge selection too.

 

I have to agree with snapsalot. The cost for shipping is way too much!!! I've only bought from them once and even to do that I had to ask a couple of friends if they wanted to also buy as I would not have met the $50 minimum if I just ordered on my own. So 3 of us bought 1 silver eagle each and split the shipping cost.

Maybe if you're buying in quantity I can see a reason for using APMEX but if you're just buying one coin every now and then there are other dealers that can give you better prices and shipping costs.

 

The guy on ioffer seems to have very good pricing, especially on the AGE's! They are almost to good to be true. With shipping his price right now is only $1,686 and spot is $1,681. I have never seen AGE's, but then again I haven't searched for AGE's much, that close to spot. Typically I see a premium of $50 to $100. Isn't this a great price of AGE's?

http://www.ioffer.com/i/1oz-gold-american-eagle-2012-190953202