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Pete

Has APMEX Got Greedy ?

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Once upon a time I used to believe APMEX was the place to buy silver coins as very competitively priced.
I refer to their website frequently for coin pictures and price comparisons but often I spot a coin that is grossly overpriced and I don't understand their logic as I am sure they do their homework.

An example today is the Australian Kookaburra bullion coin 2008

APMEX price is $95 plus VAT whilst several EU dealers are asking €30 - 32.
Pays to shop around.

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Yes they have.  Their premiums are always the worst and I only buy from them if they are the only dealer carrying the item or if they have a good sale going.

The problem is that there are a lot of people still out there paying these crazy premiums so they keep raising them and know they will still get sales. Another example was the swan release this year.  The premium was increased by a large amount within the first few hours of release.

I prefer provident or bold precious metal for the best prices in the states, though they do have a smaller selection.

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What blows me away is the pricing they show on their direct site vs their ebay store.  Check both as I’ve seen pretty large variation between the two.  Sometimes ebay is cheaper through a deal and sometimes direct is cheaper.

 

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when i started i bought from APMEX but have pretty much switched to Provident, although they are slower to get the product out the door after you order, but they are cheaper.... and, if you live in the U.S.A. and are a veteran you can buy anything on their website for the lowest price regardless of quantity which is nice :) 

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Occasionally Apmex has a decent deal but you really need to scour their site. Their premiums are pretty high. To find the best deals you have to constantly be searching many sites. In the states, for me, I check JM bullion, SD bullion, Provident, MPM, Ebay, Apmex, Yeagers, Scottsdale and a few more. Great deals are out there you just really have to be on the hunt. To me that's half the fun. I also do auctions on Ebay. I have scored a bunch of great deals there. I recently scored a 100 ounce JM bar at .30 over spot with free shipping, no tax and used a credit card which was same as cash price when silver dipped.

Edited by STONE

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On 11/07/2018 at 19:17, JimmyStack said:

and, if you live in the U.S.A. and are a veteran you can buy anything on their website for the lowest price regardless of quantity which is nice 

May i ask how? As a veteran id love to get cheaper premiums from them then what they offer as standard. 

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easiest way is to call them and let them know you want to have the veteran discount, they will ask you for proof (copy of your dd-214 is sufficient, you can black out your SSN), then once they have you in their system all you have to do is call them with your order and they will give you the lowest price for that item (usually the price associated with quantities of 500+ but you get it for any quantity)... you have to call though for the order as the website isn't set up for it... I've used it a few times already and its pretty sweet... 

 

just wanted to clarify that this is on Provident, not APMEX... 

Edited by JimmyStack

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APMEX has some of the highest prices in the industry. They're a mystery to me – why would anyone pay more for the exact same products they can get cheaper elsewhere?

I'll have an article out soon that compares prices at all the major North American online dealers. It was inspired by the Monex scandal. I hate to see people overpay, especially the elderly.

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