Is APMEX considered overpriced?

Discussion in 'Silver' started by SpacePete, Aug 15, 2015.

  1. SpacePete

    SpacePete Well-Known Member Silver Stacker

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  2. sterling-nz

    sterling-nz New Member

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    Seems high for silver , BUT i do like the look of the Buffalo though tis expensive for what it is.
    The 2 ozt skull's for $44 seems ok.
     
  3. PeterS

    PeterS Member

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    They have a minimum order of $1500 and with the minimum postage cost plus an extra for the actual weight you can add another USD 60+ to that. Then when it gets to Australia because it is over AUD 1000 you get stuck with the customs and clearing charges so add another AUD 70 odd to what you have already spent. Nice to look at what they have but dealing from Australia is unsustainable. If you had a friend in the USA who could buy locally and ship seems to me the only way.
     
  4. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Minimum order for Australia has been lowered (still expensive though):

     
  5. Ouija

    Ouija New Member

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    Compared to the many bullion dealers I have ordered from, the APMEX website does have higher prices.

    I only buy from them when they are offering a special deal on eBay, where their prices are much better.

    They also charge for delivery, if you order from their site, though their eBay listings offer free delivery.

    I don't know how they can charge much lower prices on eBay, unless they have a special agreement that eBay and PayPal wont screw them on the fees, the way they do with regular sellers.

    What I will say in favor of APMEX, is that their packaging is excellent, and their delivery is extremely fast. A recent purchase was delivered to my door just 36 hours after I placed the order. I have made about six purchases from APMEX, and each time the package was delivered very quickly.

    If you really hate waiting anxiously, wondering if today is the day the package will arrive, or got "lost in the mail", the extra premiums you pay at APMEX, might be worth it, just to calm your nerves.

    So, YES - APMEX is the best bullion dealer in the US (that I'm aware of), and their prices are higher than the competition - but some people will gladly pay those prices, because they know that they are dealing with a solid company, and they will have the product in their hands within hours.
     
  6. PeterS

    PeterS Member

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    They do not accept credit cards for international orders so from Australia you are stuck with the minimum USD 1500 bank wire option.
     
  7. whinfell

    whinfell Well-Known Member Silver Stacker

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    That's not what their web page indicates:

    Source: http://www.apmex.com/international
     
  8. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Woah, I didn't realise they sold on eBay. BRB, off I go to check if they ship affordably to Australia via ebay....
     
  9. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    Back. Prices in AUD are terrible via eBay. For example:

    2014 1 oz Silver Mexican Libertad Coin AU $39.86, Postage approx. AU $54.37
     
  10. Junk Silver

    Junk Silver Member Silver Stacker

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    I have ordered with credit card and shipped to Australia without any problems.

    They do package well and the shipping is extremely fast.
     
  11. Gatito Bandito

    Gatito Bandito Active Member

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    Oftentimes over-priced, especially for certain categories.


    Example..

    Bison Head at Apmex = $303.30 USD cash + free US ship

    Bison Head at Kearney = $252.45 USD cash + $6 US ship


    And you can get the rest of those bars you listed cheaper elsewhere, too.. Especially direct.


    What they've got going for them is variety, availability, fast ship, easy exchanges.

    Plus little extras like acrylic air-tites for some stuff when other dealers use a cheap flip, etc.

    I suppose there might also be an extra bit of trust thrown in there for certain things -- though not everybody feels that way (see: YouTube).


    Sometimes okay pricing on common modern Ag bullion coins.

    Usually that much better on common modern Au bullion coins.


    I still buy from them sometimes, but not as often as I used to..

    Partly due to learning of other dealers/sellers, and partly due to shift in product preferences.


    What little Au I've bought, it's all been from them.. Don't see that changing much anytime soon, as long as premiums / selection / availability remain pretty competitive.


    Bottom line: Some sites are better/worse for certain things. They all have their place. Apmex included..
     
  12. nickybaby

    nickybaby Member Silver Stacker

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    Has anybody tried haggling with them?
     
  13. Fat Freddy

    Fat Freddy New Member

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    Sorry, but I can't agree with this conclusion. My reasons:
    1---Apmex is known for cherry-picking. They send unopened monster boxes of ASEs (and I suspect other coins, though I'm not sure about that) directly to third party graders. They get the MS 69's and MS70's back graded and they sell the rest as raw, so when you buy raw ASEs from them you know you're getting the leftovers.
    2---Apmex charges inflated prices for their so-called "Mint Direct" tubes of coins. These are tubes that have theoretically not been cherry-picked and are sealed with an Apmex "Mint Direct" seal. They also just recently started charging even worse over-inflated prices for their so-called "Mint Direct Premier" coins in both tubes and individual Apmex slabs. These are coins that were supposedly put out by the mint in the first 30 days of the mintage year, so they're theoretically cleaner, crisper impressions and therefore superior coins. The MDP individual coins come in Apmex slabs---they're not graded, but they do look "official" and impressive enough to suck in gullible newbies who haven't yet grasped the facts that the ASE is a mass-produced, low-premium bullion coin. Malarkey like "Mint Direct Premium" designations are just ridiculous and no sane LCS, show vendor or other buyer will ever pay an inflated premium for any silly Apmex slab. Other major online vendors sell mint tubes of ASEs for regular prices and without cherry-picking them or attaching any silly names or inflated prices because they didn't screen or mess with the coins. Apmex beats up badly on the buying public with the way they handle and sell ASEs.
    3---Apmex prices--on an overall, general basis--run in a very high retail range. NOT particularly buyer-friendly. Generally rather a bit overpriced and you can easily do better elsewhere.
    4---Apmex has a proven track record of knowingly and purposefully sending out flawed coins. I've personally received flawed coins from them when I get my annual new year Kook, Koala, Taku (now Turtle) and Britannia to keep my series collections complete. I've had to send some of them back, which is a PITA. This is another NOT buyer-friendly practice.
    5---Apmex has been known to engage in deliberate and vicious price gouging. The recent episode with the 1oz Libertad reverse proof set is the best example. $500 for two 1oz silver coins---ouch! That reverse proof will undoubtedly be a rare and valuable collector's classic, but at ~$450ish for the reverse proof, you better hope that sucker never develops any milk spots (which is entirely possible).

    On the positive side, they do have the best and most extensive inventory in the marketplace, they do occasionally put on some decent sales, they ship promptly and they package their products well. Apmex isn't all bad, but the bottom line is you need to be selective and careful when you deal with them in order to do well. For one example, buying ASEs from them is a bad idea but if you want to buy back year Britannias, Apmex is close to your only possible source aside from the snake-pit called Ebay.

    Because of this fairly complicated can of worms and some in-your-face buyer-unfriendly business practices, I don't see Apmex as "the best vendor" out there. They may be that in some specific regards but they're positively not that in other or all regards. It's entirely possible to excuse and write off Apmex's more objectionable business practices by saying "it's all just business and that's the way business goes", but I'm not given to excusing and writing off nasty business practices without recognizing them for what they are. You need to know what you're doing when you deal with Apmex and you need to be selective and careful.
     
  14. ironwood

    ironwood Active Member Silver Stacker

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    If ya'll want something from APMEX then I'm more than happy to help. Get a list together and PM me. I've done it many times.
     
  15. Stroctor

    Stroctor New Member

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    Sorry to hear that they charge extra for international sales. I've ordered quite a bit from them here in the states and have had only good experiences. I can order small orders with no shipping fees. They are a bit higher, but if you catch the sales they are competitive. I've ordered tubes of both ASE's and maples and they always look exceptional. No milk spots on anything thus far. Packaging is really nice too. I always pay by check, takes a bit longer to clear but the premium is about .50-1$ less.
     
  16. Nabullion Dynamite

    Nabullion Dynamite Active Member

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    I'n my experience they are a bit more pricey than the other big online dealers however they have some of the quickest handling times and very secure packaging. I usually only order from them if there is somekind of special sale going on.
     

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