How to Buy Gold and Silver Online with APMEX

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I‘ve wanted to invest in gold or silver for some time. Not a big investment, but just enough to give my portfolio some more diversity. Plus I like collecting coins, and gold and silver are a perfect fit. The problem was finding the best place to buy precious metals. I ended up buying silver online, which I’ll tell you about in a minute. But first I want to tell you about Scott Thomas.

Scott is the President of APMEX (American Precious Metals Exchange), one of the largest gold and silver online dealers in the world. I had a chance to meet Scott at a conference in New York last year. They had an incredible display of gold and silver coins and bars and inn one case they had a 100 oz bar of gold that you could reach in and pick up. It felt like it weighed a ton.

Scott shared with me his view of investing in precious metals. He felt that any portfolio should have some exposure to gold or silver. He recognized that gold has been on a run lately, but of course who knows where the price will move going forward. He saw silver as having significant potential in the short run, but he made no attempt to predict future prices.  We also talked about whether it was better to buy gold coins or bars. A lot depends on how much you want to buy and why you are buying. For me, I like to collect coins, so the choice is easy.

And then I asked him about buying online. Is it safe, and how do you deliver the gold and silver to your customers? It turns out that product is shipped by mail, is fully insured, and they rarely have a problem. While it seems odd to think of a company shipping gold and silver by mail, I decided to give it a try.

On my laptop at a Starbucks, I went to APMEX.com and purchased 20 American Eagle silver coins (1 oz). Including shipping, the total cost came to about $440 (quite a discount from where silver is today), and I paid by credit card. It was as simple as ordering something from Amazon.  A few days later I received an e-mail notice that the order had shipped. And a few days after that the silver coins arrived in the mail. Because I ordered 20, they include a coin tube to hold the American Eagles. Here are a few pictures of the coins:

Having now placed and received my first order from APMEX, I see several advantages of buying gold or silver online. One advantage is a larger inventory. About a month before I made this purchase online, I looked into buying silver coins from a local dealer, and their selection was just terrible. APMEX’s inventory is impressive. A second advantage is that the minimum order for people in the U.S. is just $50 ($250 if you live in Canada). That means you can make small, incremental investments in precious metals. In fact, you can even invest in gold through APMEX in small amounts, even thought the price of gold today is well over $1,200/oz. For example, APMEX sells gold American Eagle coins in several different weights, ranging from 1/10th oz. to 1 oz. For the 1/10 coin, the cost is less than $150.

The buying process was much easier than I imagined. And I plan to buy some additional gold and silver coins overtime from APMEX. Until then, if you’ve ever purchases gold and silver coins or bars from APMEX, what did you think of its inventory, price, and service?

Buy Gold Online Today at APMEX.com

Published or Updated: September 22, 2011
About Rob Berger

Rob founded the Dough Roller in 2007. A litigation attorney in the securities industry, he lives in Northern Virginia with his wife, their two teenagers, and the family mascot, a shih tzu named Sophie.

Comments

  1. TASS says:

    If you were to buy physical coins for investment purposes would it be easy to sell them at a later date?

    As a person that is used to trading stocks on the stock exchange I am wondering whether buying a gold or silver exchange traded funds (ETF’s) could be a good alternative?

    • DR says:

      Tass, first I think ETF’s are a great way to invest in precious metals. I like the physical coins, but ETFs are a great alternative. As for selling, APMEX buys gold and silver, and their prices are found on their website. There are also plenty of coin dealers in most areas who buy gold and silver.

    • Larry Copling says:

      TASS: I completely agree with DR as to WHAT to buy (Gold/Silver American Eagle bullion coins), but I disagree about ETF’s and many other ways of purchasing your precious metals. There is a very good change that we will be seeing a currency crisis within the next few years. If that should happen, you don’t want your wealth (as represented by gold/silver) left in the hands of some bank or exchange fund. Many funds are suspected of not actually having possession of the gold they claim to have. Take physical delivery (like DR did) and store it safely in a place you know you can get to when the dollar collapses!

  2. Liz says:

    Wonderful information, thank you.

  3. Fontaine says:

    I haven’t used APMEX but you turned me onto their site. I’m getting ready to make a good purchase. I’m impressed with their inventory. Wish they had some more Krugerrands though. But I’ll give’em a try. Good post; thanks.

    • Larry Copling says:

      Be careful! South African Krugerrands have IRS reporting requirements (as do many other rounds and coins). Only American Eagle coins are exempt from IRS reporting for buying OR selling. You will still need to report any capital gains, but no reporting by the dealer will occur on the sale for American Eagle coins. Just a thought!

  4. Porter says:

    I have purchased from APMEX with good results. If you can make larger purchases (20 Oz gold or 500 Oz silver) Tulving.com is the place to to. You will get free next day delivery in most cases.

  5. Cordelia Lougheed says:

    Where is your physical location? Do you take personal checks?

    • DR says:

      Cordelia, APMEX is located in Oklahoma City, Oklahoma. And they do take checks.

  6. Pat Gabor says:

    Just like most things in life, it’s easy to buy/purchase these things but it’s rarely mentioned about the flip side, how do you sell them back when you want to cash in? Is that process just as simple? What are the cost factors to think about?

  7. Larry Copling says:

    I use GoldSilver.com as my dealer of choice. Not only are they an honest and trustworthy dealer, they are all about educating simple folks like us about gold/silver investing and about the state of our economy. I am also a real estate investor, and their information about when to get OUT of precious metals and back into real estate is very valuable.

  8. Roy T says:

    Do your homework before you buy. Mark-up and other costs can vary a great deal from dealer to dealer. If you can find a reputable local dealer it gives the advantage of being able to walk in with a cashiers check and walk out with product on the same day. Beware of dealers that tack on fees and always compare total cost to get the product in your hand (including delivery and insurance).

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