TrustPilot Rating: Average
Goldline is a name that you have either heard of or listened to their commercials on your work commute. You are probably aware that it is a precious metals company, but don’t know whether they charge fair prices or are even worth your time.
Fortunately, you are reading this review and here we will teach you all there’s to know about Goldline and answer any questions that you might have regarding this precious metals company. However, before we dive in, here is a brief summary.
Who is APMEX?
The goal of this APMEX review is to provide comprehensive answers to this question and others and assist potential investors and interested parties in developing result-oriented strategies for investment in precious metals assets.
We understand identifying and working with a genuine dealer lies at the heart of any successful investment strategy in the precious metals industry. Understandably, your quest for a trustworthy precious metals dealer may have provoked more questions than answers.
You have heard of APMEX, and you are wondering if the company is a con or not, what is their rating and nature and resolution of customer complaints.
To begin, APMEX (APMEX Inc.) stands for the American Precious Metals Exchange, which was established in 2000. With its headquarters based in Oklahoma City, the corporation is the world's largest online precious metals retailer.
Targeting potential and existing investors, the company's products include a wide assortment of precious metals such as gold, silver, platinum, and palladium products. Also, the company buys and sells precious metals to collectors and investors at competitive prices.
Besides bullion, APMEX also deals in pre-1933 collectible coins, rare international currencies, and commemorative products.
What Does APMEX Offer?
APMEX is a corporation that sells several products like gold, silver, and platinum on its online platform (website).
Apart from the products mentioned above, APMEX transports Mint bullion products in the United States of America such as platinum, silver, and gold American Eagles, Krugerrands from South Africa, Maple Leafs, and the Royal Canadian mint.
Is APMEX a Scam?
In short, no APMEX is not a scam. American Precious Metals Exchange (APMEX) has been in active operation since 2000 – the year the company opened its doors for business. Additionally, the company has been accredited by the Better Business Bureau (BBB) for all that duration between 2004 and now.
Better Business Bureau (BBB) accredits businesses that observe standards for truthful (full disclosure) advertising and investigates and exposes fraudulent commercial activities to protect the consumer.
Worthy to note, APMEX has handled over $11 billion worth of transactions since it was founded. Over the years, the company has deservedly worked its way up, growing its reputation in the precious metals industry and directly providing employment opportunities to more than 110 persons.
Following sufficient due diligence, we authoritatively recommend APMEX to potential investors as a legitimate precious metals investment company with a good standing over an extended duration of professional work. No, APMEX is NOT a fraud.
Is APMEX a Legitimate Company?
APMEX's specialty is buying and selling various precious metals products online. The company's precious metals products, including gold, silver, and palladium, are traded in bars, wafers, and bullion coins.
APMEX is a leading dealer of bullion products from foreign countries, including Royal Maple Leafs from Canada and Krugerrands from South Africa. What's more, the company sells rare coins and collectibles, all at fair market prices.
APMEX is not a custodian – the company only carries precious metals of approved grade by the IRA. If an investor does not want to store their precious metal assets for themselves, they can assuredly rely on one of the custodians PEMEX has partnered with for safe and secure storage services.
APMEX Corporation has performed well and has received annual accreditation from Better Business Bureau (BBB) from 2004, scoring a rating of A+. However, there have been some issues:
Since 2000, APMEX has stood out, upholding a strong reputation among many potential precious metals investors. Hitherto, the American Precious Metals Exchange Company has not had any run-ins with government and regulatory institutions since its founding date.
Things To Like About APMEX
1. Professional Service From Sales Representatives
Customers interested in working with APMEX receive the utmost professional service from the sales representatives and the company’s staff members. For example, you will find that the sales are very resourceful, efficiently providing clients with the required information on the company’s products and services.
Anyone interested in investing with APMEX should reach out to its team of professionals and receive proper guidance and the required solutions to their queries.
2. Favorable Ratings
APMEX Company has received outstanding ratings from highly-regarded sources and institutions like BCA, BBB, and TrustLink.
Precisely, BBB gave APMEX a rating of A+, APMEX received a rating of AAA from BCA and five stars from TrustLink. Please note, aside from impressive positive reviews, APMEX has received several complaints from their customers.
3. Many Payment Options
APMEX customers have the luxury of choosing their preferred payment option as offered by the company, like bank wire transfer, personal and cashier’s checks, credit cards, money orders, and certified checks.
Useful Tip: It would be best if the customer used bank wire for payments above $2,500.
Also important to note is that there is a minimum order fee of $50 for every transaction by customers in the United States. Orders received from Canada are charged a minimum of $250, while orders from Europe and Australia are charged a minimum fee of $1,500.
We have established that the company judiciously responds to each confirmed customer complaint and its best capabilities. Generally, the company has managed to resolve most of their customer’s concerns and complaints conclusively.
However, we must note that the frequency of customer complaints in a precious metal dealing company is determined by the size of their customer base and the number of transactions taking place over a given period.
It explains why some institutions may be more relaxed on the small number of negative customer feedback coming on their way while other corporations will be concerned with a similar number of complaints.
Most APMEX customer complaints originate from the following scenarios:
However, in all fairness, we observed many instances when the company has given a refund and made necessary compensation whenever a mistake was noticed and brought out.
American Precious Metals Exchange is committed to delivering quality services and products to its clients. It recognizes the role of BBB’s accreditation standards in supporting the quick resolution of customer complaints and in good faith. For this reason, and despite many customer complaints, APMEX Company has retained an A+ rating.
Additionally, addressing customer issues shows that the company cares and is committed to cultivating its best professional relationships with its clients. It is an important point when considering which dealer to work with.
On the brighter side, there are many more instances and reviews for APMEX Company where customers had zero concerns or complaints with the company and its service delivery.
In your search for the right precious metals dealer, you will encounter customer complaints falling on various departments, not just the customer service desk. For instance, our study showed that many customer concerns were centered on the actual product, its delivery, and the billing process.
However, it is important to note that the number of complaints we observed is meager to the magnitude of customers and transactions involved.
Another observation is that most customer complaints lodged with the big companies have to do with late receipt of the shipment or lack of receipt. In some cases, customers were forced to wait for thirty days before the company processed and made the necessary refund to the affected customer.
You are likely to encounter some warnings from investors who have worked with certain companies and had some of their claims conned, or Their dealer never delivered the product they ordered, or clients canceled delivery without any reason at all. Though rare, some customers have had chipped or cracked bars delivered to them.
Usually, the precious metal dealer should meet the shipping costs whenever they need a client to return the defective product. I think most readers agree that in such as case, the burden of extra expenses should be borne by the precious metal dealer company.
Please note: You are likely to come across many company review sites with customer complaints with both discouraging and positive reviews. However, that does not imply the subject company being evaluated is unscrupulous or a con.
Be sure to pay attention to the comments and complaints when conducting your search for a legitimate dealer. Use the best companies in the industry as a benchmark to compare the precious metals companies you are evaluating – remember, all companies have their strong qualities, which is why they are in business in the first place.
More importantly, a company is likely to please its clients if it values and actively pursues long-term relations without being overly concerned with closing its first sale.
Should You Invest with APMEX or are there Better Alternatives?
Today, there are numerous other similar companies in existence offering similar products but with much better reviews and far fewer fees. We definitely urge you to first check those ones out before committing. You will see a clear difference and where they excel in areas where APMEX does not.
We are not saying that APMEX is a scam or illegitimate company, but rather that while some customers have given the company positive reviews, there are much better alternatives out there.
The 3 companies below are some of the best based on customer ratings. Each one has hundreds of 5-star reviews and a 4.7 to 4.9-star rating across varied review websites.
Goldco itself has a great reputation, more than 1,500 5-star reviews, and is endorsed by celebrities like Chuck Norris.
Hopefully, you enjoyed this review and now have a better sense of what the company is like. All the best with your precious metal investments.