APMEX
Key Facts
- Min. Investment
- $2,000
- Annual Fees
- Set by chosen custodian + ~0.55%/year storage at Citadel
- Founded
- 2000
- IRA Types
- Traditional, Roth, SEP, SIMPLE
Overview
APMEX — American Precious Metals Exchange — was founded in 2000 and is headquartered in Oklahoma City, Oklahoma. It is the largest online precious metals dealer in the United States, with over 10,000 products spanning gold, silver, platinum, and palladium. APMEX's core business is retail bullion sales; IRA services are offered as a secondary product line. Unlike dedicated gold IRA companies, APMEX connects IRA customers with five preferred custodian partners and facilitates the purchase of IRA-eligible metals. For self-directed investors who know what they want and care most about selection and pricing, APMEX is worth considering.
Pros
- ✓Largest U.S. online precious metals dealer — over 10,000 products and unmatched selection
- ✓Works with five preferred IRS-approved custodians — flexibility to choose your own
- ✓Competitive pricing driven by high volume — real-time spot pricing on the website
- ✓Self-service "Sell to APMEX" buyback platform with payment within 24–48 hours
- ✓26 years in business with A+ BBB rating since 2004
Cons
- –IRA services are secondary — no in-house custodian, no dedicated IRA education team
- –Trustpilot rating of ~1.7 out of 5 across 7,900+ reviews is significantly below the BBB rating
- –Full IRA fee picture unclear upfront — fees split between APMEX and chosen custodian
- –No white-glove IRA onboarding — investors who need guidance will find more support at IRA-specialist firms
- –$35 cancellation fee plus market-loss penalties if orders are not paid within the allowed window
Frequently Asked Questions
Is APMEX a gold IRA company?
APMEX is primarily a retail precious metals dealer, not a dedicated gold IRA company. They facilitate IRA-eligible purchases and connect customers with third-party custodians, but do not manage IRA accounts directly.
What custodians does APMEX work with?
APMEX recommends five preferred custodians: Equity Trust, STRATA Trust, GoldStar Trust, The Entrust Group, and Kingdom Trust. Customers can also use their own IRS-approved custodian.
Why is APMEX's Trustpilot rating so much lower than its BBB rating?
APMEX holds an A+ BBB rating but approximately 1.7 out of 5 on Trustpilot across 7,900+ reviews. Common complaints cite shipping delays, customer service response times, and unexpected fees — likely reflecting the scale of retail transactions APMEX processes.