APMEX for First-Time Gold and Silver Buyers Guide

If you are interested in buying gold and silver coins to protect you against future hyperinflation, then chances are you may have heard of APMEX. This article will give you an introduction as to what APMEX is and how to buy your gold and silver from the company.

What is APMEX?

APMEX stands for the American Precious Metals Exchange. They are one of the biggest dealers in gold and silver coins. They are based in Oklahoma City and have been in business since 1999. APMEX has one of the best reputations in the gold and silver business.

Why is APMEX a good place to buy and sell gold and silver?

• Longevity - APMEX has been around since 1999. While that may not sound like a long time, it is ancient compared to many of the "fly by night" gold and silver dealers that have popped up online.
• Customer service - Unlike most other dealers, you can talk to a real live person on the phone or in a live chat or via e-mail. This is critical if you are a first time buyer. APMEX gets many new buyers and they are really good at "hand-holding" you through your first purchase.
• Prices are listed online - APMEX lists the prices of their inventory online. This is critical. You should never, ever buy from any gold or silver dealer who doesn't post their prices online. Chances are, if the company won't tell you the price upfront, they are up to no good.
• Easy to use website - If you are new to gold and silver buying, then you are appreciate APMEX's easy to use and easy to navigate site.
• APMEX is based in the United States - Surprisingly, many gold and silver dealers are based offshore. And sometimes these off-shore dealers like to brag that they will ensure your "privacy." However, I would be leery of anyone off-shore because, if you get ripped off on a deal, you have little to no way to get your money back. With AMPEX, you are dealing with a company that is based and licensed in the U.S.

Making your first gold or silver purchase

You are ready to make your first purchase of gold or silver at APMEX. The first thing you want to do is go to APMEX.com and look at their inventory. For example, let's say you want to buy 20, one ounce Silver American Liberty coins. On the right side you will see a bold menu for "Bullion." Right under the word is a list of the types of bullion available. Click on "silver." From there you will see the types of silver listed for sale. The coins and bullion listed on top are the best sellers. It is always recommended that you buy the best selling gold and silver because they are easier to sell and more liquid.

In this example, we are looking for one ounce Silver American Liberty coins. You will see the types of silver listed with photos to help you identify the type of silver you want. Click on the silver American Liberty coin. From there you will get to the pricing page where you will see the one ounce Silver American Liberty coins separated by year.

If this if your first purchase, you should get the current year for any coin. So for this example we find the 2010 silver American Liberty coin. (When you are buying silver coins, it is a good idea to buy them in batches of 20 coins because many coin tubes hold exactly 20 coins). The cost of each coin will be about $2.49 over the spot price. The spot price is the price set by silver traders. You are paying $2.49 over spot price for American Silver Liberty coins because they are extremely popular. While there are cheaper forms of silver, you are better off owning a coin that you can quickly sell.

Now, you enter the price into your cart and check out. In order to lock in your price, you must send your payment as soon as possible. APMEX reserves the right to cancel the sale if you don't send in your payment promptly. It is a good idea to have your funds preapred for transfer when you are ready to make your sale. APMEX accepts credit cards, checks, and wire transfers.

Moving Saving Tip

Once in a while, APMEX will offer discounts to people on their e-mail list, so it is a good idea to sign up for the company's e-mail alerts. Also, wait for days when there is a plunge in the price of gold or silver. APMEX also buys gold and silver from people. And when there is a plunge in the price of bullion, the company is flooded with inventory and they will often have a fire sale to clear the inventory.

Summary

APMEX is a great place for new gold and silver buyers to acquire their gold and silver, coins and bullion. The company is has an excellent reputation and has a top-notch support team. For more information, go to APMEX.com.