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We recommend doing your due diligence before just choosing any company. We have read so many reviews of clients being ripped off and going with just any company that has terrible reviews and even committed fraud. Please investigate thoroughly before making your decision. Check out a few more reviews before you start the rollover process.
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The gold and precious metals business is booming. A good amount of people have gold, silver, and other precious metals stored away somewhere in their life. Americans and consumers the world over are raiding their own residences, their relatives houses, and safety deposit boxes to find these metals to sell. Others are investing in gold and rolling over their 401K retirement plans to invest in gold. The reason this is happening is the instability of the economy, the roller coaster ride of the world markets. Many companies have risen up to help people invest in gold or buy precious metals from consumers. American Precious Metals Exchange, or APMEX, is one such company.
What values are at the core of the APMEX experience? Do the employees and owners of the business put consumers first or are they only out for themselves? The best place to find out this information is by scouring the Internet. Even if the company has a good reputation among a certain group, consumers can easily broach their satisfaction or dissatisfaction with a company online.
Better Business Bureau (BBB)
61 complaints closed with BBB in last 3 years | 20 closed in last 12 months
On the BBB website, APMEX is both an accredited business and holds an A+ rating. This shows that APMEX is supposed to live up to the high standard that the BBB enforces. An A+ rating is the best rating a company can have through the consumer watchdog group. However, when looking up APMEX on the BBB website, there is a bit of a dissociation between the rating and the consumer complaints.
APMEX has over sixty complaints filed against it in the last three years through the BBB. These complaints range from issues with advertising and sales to problems with the product and service. The complaints are many and numerous over a broad range of categories. Although the complaints are listed as being closed and can’t be viewed, the sheer amount of the complaints should make a person reconsider using the company.
The Complaint Board
This consumer driven review site also has numerous complaints about APMEX. These entries range from customer service oriented complaints to issues with the service APMEX advertises. One complaint focuses both on the customer service and on the quality of the product. The customer placed an order with APMEX only to have the quality of product be low-grade and of little value. When this customer tried to contact APMEX, he was told that returning the product would cost shipping and handling on his part. A company that wants to help clear up a customer complaint should do more than charge a customer for a product they feel is shoddy.
Another complaint aimed at APMEX centers around the customer service. A buyer decided to send funds via a wire transfer to the company. He asked for the bank they used and APMEX gave him the name of the bank. He wired the money, but APMEX contacted him the next day and said they changed banks and asked him to rewire the money. When the customer said he lost a significant wire transfer fee, the company didn’t respond to his complaint. When he complained again, APMEX sent him a gift certificate for only a fraction of the fee for use with the APMEX service. No one communicated with him about this in any way. He eventually received another gift certificate for almost the full amount of the money he lost, but it didn’t do much to satisfy the customer.
This consumer based complaint site also has many bad reviews for the APMEX company. These range from costumer service to product quality issues as well. One major complaint bemoans the slow sliding nature of the company, a once great business now nothing but another gold and precious metal investing con artist. The consumer claims that an unknown and unadvertised policy change cost him money. Despite the fact that APMEX never charged him sales tax before, the customer was charged this tax for a significant purchase. APMEX told him they don’t charge the tax over a certain amount so the consumer asked them to increase the amount so they wouldn’t charge him the tax. Despite being a customer in good standing and having several pieces of identification and credit with the company, APMEX declined to do so.
Another consumer states that the company ignores emails sent to them for cancellation of orders. With a written policy stating that all cancellations have to be during the hours of business, the consumer waited until these hours to cancel his newly placed order. When he received no reply, he emailed APMEX a few more times. After a couple of days of getting no response, an employee of APMEX responded that he had to call in to the company to cancel an order. The consumer was unhappy that this never showed up anywhere nor was mentioned in the initial email. When APMEX finally did cancel the order, they waited until the market was low so to avoid much loss on their end.
Some Good News
With every bad complaint, there are people who rave about the company. The internet is full of those that would not use another gold or 401k gold rollover company. Some comments include the fact the customer never had an issue with the company. Many reviews indicate that the precious metals received were of high quality and the gold sold to the company was at a fair market value. This shows that not all have issues with APMEX.
Of course, the overwhelming amount of bad comments and complaints about the company can’t be ignored. When a consumer is investing any money at all, a company should be on their best behavior towards their customer base. The complaints show that APMEX doesn’t seem to care about keeping customers, only being worried about bringing in fresh blood. They seem not to understand that word of mouth still brings in customers, even in this digital age. Anyone planning to use APMEX should reconsider and research the facts before committing to it.
Which Company Do We Recommend?
Still have questions? Let Regal Assets give you clarity and earn your trust.
As if all that’s not enough, this company is most responsible and trustworthy business practices demonstrated by the A+ rating with the BBB. you’re guaranteed fast, efficient access to any gold you decide to order with a 7-day delivery guarantee as well.
We’ve done an extensive Regal Assets Review here… This company is listed #20 on INC 500’s for Financial Services, and a preferred membership with TrustLink.
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