Ouija said:
.....So, YES - APMEX is the best bullion dealer in the US (that I'm aware of), and their prices are higher than the competition....
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.
