For those new to the metals space, knowing where to go to buy or sell physival gold for a fair price is difficult. That’s where APMEX, formerly known as American Precious Metals Exchange, enters the scene. APMEX has become a favorite among precious metals buyers and sellers for a few key reasons noted below.
So writes Tim Parker (www.commodityhq.com) in edited excerpts from his original article* entitled Inside APMEX: A Physical Gold Dealer.
This article is presented compliments of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Parker goes on to say in further edited excerpts:
APMEX has become a favorite among precious metals buyers and sellers for a few key reasons noted below:
1. APMEX is a market maker
APMEX isn’t just a retailer; it has a trading floor and serves as a market maker to investors. This greatly increases the amount of metals it buys and sells, allowing the company to profit on the difference in the spread between the bid and ask price.
In theory, the company should be in a position to offer the most competitive pricing due to its trading activities.
2. APMEX shows you what others are buying
Investing isn’t about following the herd but if you don’t have a lot of experience as a physical metals investor, knowing where to start your research is helpful. APMEX lists the 40 most popular products on its home page. It encompasses a large range of price points and includes reviews from previous buyers.
3. APMEX provides frequent market updates
You may want to purchase and stow your precious metal away, but APMEX assumes that you are not only a buyer, but also a student. The company publishes market updates three times per day and a weekly recap at the end of the trading week.
The company also has a series of educational videos and publications including its “Quick Start Guide to Investing in Precious Metals.”
4. APMEX helps you put metals in your IRA
If you want to make physical metals part of your tax-advantaged retirement strategy, APMEX has a department dedicated to assisting with the task. Because not all assets meet Internal Revenue Service requirements, APMEX can help you set up a precious metals IRA that meets IRS rules.
5. APMEX is transparent
When you compare APMEX’s site to its competitors, you notice that all pricing is transparent. For every product, it lists a buy price (the bid) and a sell price (the ask). There are no extra commissions or fees other than shipping charges, which APMEX fully discloses.
For buyers who purchase in bulk, volume discount prices are fully disclosed, with prices based on the most recent market data updated every 60 seconds. The company places the most current spot prices on the home page of its website.
6. APMEX offers 24-hour service
If you want to lock in the best pricing, APMEX lets you buy and sell 24 hours per day including weekends. Once you commit to an order online, APMEX locks in the price.
The Bottom Line
APMEX’s 3,500-product selection makes it the dealer of choice for many precious metals traders. The company says on its website that it does not promise the lowest prices, but because of the sheer volume of buying and selling, it usually has the lowest price or at least a price that is competitive with other dealers.
There are other online dealers so, before deciding on one, look at all of them. Compare the pricing and features of each. Then, make your decision. You’ll likely find that APMEX’s transparency is the best in the business.
Editor’s Note: The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
Precious metals have historically been excellent ways to preserve one’s purchasing power over the long term. However, in today’s world, they do not act well as a medium of exchange. To solve this problem Peter Schiff and his teams worldwide have worked out a totally new service: the first Gold and Silver Debit cards that gives bank customers access to their gold and silver holdings.
eBay thinks there’s potential for its marketplace to be a trusted seller of gold, silver and other precious metals and is making a major bet on this vertical as a sales generator via a new exclusive partnership with AMPEX Bullion Center which they introduced just this past Wednesday. Read on for more deals about this introduction. Words: 257
I believe it is important to mitigate the risk of loss with your physical bullion by diversifying the locations where you hold it. To this end, I think it is wise to have some bullion on your property, some in secure storage off site, a portion stored with an ETF like CEF and ideally at some stored at a location overseas. In order to obtain the overseas diversification, I [recommend BullionVault because, while their 43,000 customers have already done business with them at some of the lowest costs available, they have just reduced their initial commission fee by 37.5% – from 0.8% to just 0.5%! Let me explain further some of the advantages of doing business with Bullionvault.] Words: 796
Compare and save! Who is the most reputable, cheapest and most reliable precious metals dealer to buy your physical gold and silver from? Their are hundreds of dealers touting their wares but when it comes to direct comparisons only a few rise to the top of the list. Here they are. Words: 262
You have no doubt read countless articles on the price of gold costing x dollars per “troy ounce” or perhaps just x dollars per “ounce” but the difference between the two measurements is significant. For that matter, what’s the difference between a 24 karat gold ring and an 18 karat gold ring? Let me explain. Words: 863