When it comes to investing in precious metals, choosing the right dealer is crucial. Two prominent names in this industry are the American Precious Metals Exchange (APMEX) and Money Metals Exchange.
Both companies offer a range of products and services tailored to investors and collectors. This comprehensive comparison will delve into their histories, product offerings, services, fees, shipping policies, payment methods, customer support, third-party reviews, and the pros and cons of each, helping you make an informed decision.
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Company Histories
APMEX
Founded in 2000, APMEX has grown into one of the largest online retailers of precious metals. Headquartered in Oklahoma City, the company operates an 80,000-square-foot facility and employs over 300 staff members.
APMEX has served over one million customers worldwide, delivering more than 130 million ounces of gold and silver to clients in over 60 countries. Their extensive inventory and commitment to customer satisfaction have solidified their reputation in the industry.
Money Metals Exchange
Established in 2010 by Stefan Gleason, Money Metals Exchange aims to provide a user-friendly platform for purchasing precious metals.
Based in Eagle, Idaho, the company emphasizes competitive pricing, educational resources, and exceptional customer service.
Money Metals Exchange has been recognized for its transparency and has garnered positive reviews from customers and industry experts alike.
Product Offerings
APMEX
APMEX boasts a vast selection of products catering to both investors and collectors:
- Gold and Silver: A wide array of coins, bars, and rounds from various mints worldwide.
- Platinum and Palladium: Diverse options including coins and bars.
- Numismatic Coins: Rare and collectible coins for enthusiasts.
- IRA-Eligible Products: Precious metals approved for inclusion in self-directed IRAs.
- Exclusive Products: Unique items available only through APMEX.
Their extensive inventory ensures that customers can find products that align with their investment goals and interests.
Money Metals Exchange
Money Metals Exchange offers a comprehensive range of products:
- Gold and Silver: Coins, bars, and rounds suitable for investors at all levels.
- Platinum and Palladium: Various products including coins and bars.
- Copper: Affordable options for those interested in diversifying their holdings.
- Starter Packages: Curated selections designed for new investors.
- Unique Items: Specialty products like bullets and figurines crafted from precious metals.
- Jewelry: Investment-grade pieces for those interested in wearable assets.
Their diverse catalog caters to both novice and seasoned investors, offering products that suit various investment strategies.
Services Offered
APMEX
APMEX provides several services to enhance the customer experience:
- Precious Metals IRA: Assistance in setting up self-directed IRAs with a selection of IRA-approved products.
- OneGold: A digital platform developed in partnership with Sprott, allowing customers to buy, sell, and manage digital precious metals.
- AutoInvest: Enables customers to schedule recurring purchases, facilitating dollar-cost averaging.
- Storage Solutions: Through a partnership with Citadel Global Depository Services, APMEX offers secure storage options with features like inventory tracking and insurance.
These services are designed to provide flexibility and security for investors, whether they prefer physical or digital assets.
Money Metals Exchange
Money Metals Exchange offers a suite of services tailored to investor needs:
- Monthly Savings Plan: Allows customers to automate regular purchases, promoting disciplined investing.
- Precious Metals IRA: Facilitates the creation of self-directed IRAs with a range of eligible products.
- Buyback Program: A straightforward process for selling metals back to the company, ensuring liquidity for investors.
- Secure Storage: Offers insured storage solutions in a secure facility located in Idaho.
- Loan Program: Enables customers to obtain loans using their precious metals as collateral, providing financial flexibility.
These offerings are designed to support investors at every stage, from accumulation to liquidation.
Fees and Pricing
APMEX
APMEX is known for its competitive pricing, with premiums varying based on the product and payment method. They offer free shipping on domestic orders over $199; orders below this threshold incur a $9.95 shipping fee.
For storage services through Citadel, fees are 0.55% of the asset’s value annually, with a minimum charge applicable.
Customers should review all associated fees on the APMEX website or contact customer service for detailed information.
Money Metals Exchange
Money Metals Exchange emphasizes transparency in its pricing. They offer competitive premiums over spot prices, and customers can view real-time pricing on their website.
Payment methods can influence the final price; for instance, payments via credit card or PayPal may incur additional fees, while bank wires and checks often do not.
Shipping is free for orders over $500; orders below this amount are subject to shipping charges. Storage fees are tiered based on the storage amount, starting at $96 annually for assets up to $15,999. These fees make it an affordable option for investors looking for secure storage.
Shipping Policies and Payment Methods
APMEX
APMEX offers a variety of shipping options to accommodate different customer needs:
- Free Shipping: Available for domestic orders over $199.
- Standard Shipping: Orders under $199 incur a $9.95 shipping fee.
- Expedited Shipping: Customers can pay extra for faster delivery through UPS or FedEx.
- International Shipping: APMEX ships to over 60 countries, but fees and import duties vary depending on the destination.
- Discreet Packaging: All shipments are sent in unmarked packaging to ensure security.
Accepted Payment Methods:
- Credit/debit cards (Visa, Mastercard, American Express, Discover)
- Bank wire transfers
- PayPal
- Paper checks
- Cryptocurrency (Bitcoin, Ethereum)
- APMEX Gift Cards
Money Metals Exchange
Money Metals Exchange also provides reliable shipping policies:
- Free Shipping: Available for domestic orders over $500.
- Standard Shipping: Orders under $500 are subject to shipping fees, generally around $7.97.
- Insurance Included: All orders are fully insured against loss, theft, or damage.
- International Shipping: Limited to select countries; customers need to check eligibility.
- Discreet Packaging: Ensures privacy and security during shipping.
Accepted Payment Methods:
- Credit/debit cards (Visa, Mastercard, Discover)
- Bank wire transfers
- PayPal
- Paper checks
- ACH transfers
- Cryptocurrency (Bitcoin)
- Money Metals Exchange Prepaid Card
Customer Support and Reputation
APMEX
APMEX is well-known for its excellent customer service and industry reputation. Some key points include:
- Customer Support Availability: Phone, email, and live chat support.
- Response Time: Fast, with most inquiries handled within 24 hours.
- Better Business Bureau (BBB) Rating: A+ with thousands of positive reviews.
- Trustpilot Rating: 4.5/5 stars, with customers praising reliability and transparency.
Money Metals Exchange
Money Metals Exchange also has strong customer support and a solid reputation:
- Customer Support Availability: Phone, email, and chat support.
- Response Time: Generally quick, with most issues resolved in a timely manner.
- Better Business Bureau (BBB) Rating: A+ with high ratings from satisfied customers.
- Trustpilot Rating: 4.6/5 stars, often praised for its user-friendly platform and competitive pricing.
Security and Storage Options
APMEX
APMEX provides storage services through Citadel Global Depository Services, a subsidiary of APMEX. Key features include:
- Fully Insured Storage: Backed by Lloyd’s of London.
- Segregated and Allocated Storage: Ensures that customers’ assets are not mixed with others.
- Online Account Management: Customers can track their holdings in real time.
Money Metals Exchange
Money Metals Exchange offers private storage options in a secure facility in Idaho. Features include:
- Fully Insured Storage: Covers theft, damage, and loss.
- Tiered Pricing: Based on the value of stored metals.
- Easy Access: Clients can liquidate or retrieve stored metals conveniently.
Buyback Programs and Liquidity
APMEX
- APMEX has a well-established buyback program allowing customers to sell metals back at competitive rates.
- Customers can lock in real-time spot prices for fast transactions.
- Payment options include bank transfers, checks, or store credit.
Money Metals Exchange
- Money Metals Exchange also offers a buyback program with competitive pricing.
- Selling metals back is straightforward, with funds issued promptly after verification.
- Customers can check live prices online to ensure fair transactions.
Which One Should You Choose?
Choosing between APMEX and Money Metals Exchange depends on your priorities:
- Choose APMEX if: You want a wider selection, including rare coins and collectibles, and are comfortable with slightly higher premiums.
- Choose Money Metals Exchange if: You prefer lower premiums, a straightforward pricing structure, and free shipping on larger orders.
Both companies have strong reputations and cater to different types of investors. Your decision should be based on factors like pricing, inventory, and additional services that best suit your investment strategy.
Final Verdict
Both APMEX and Money Metals Exchange are excellent choices for buying and selling precious metals. If you prioritize selection, global reach, and advanced investment features, APMEX is a solid option.
On the other hand, if you prefer lower premiums, a simplified buying process, and a strong monthly savings plan, Money Metals Exchange is a great alternative.
