Apmex vs Kitco Metals: The Ultimate Comparison
If you’re grappling with the decision of whether to choose Apmex or Kitco Metals for your precious metals purchase, this ultimate comparison guide dissects the crucial factors—product range, pricing, and client service—that define each dealer. Dive into the details of Apmex vs Kitco Metals and emerge with the insight needed to align your investment with the right vendor.
Apmex is US-based with a diverse selection of precious metals and a strong emphasis on coin collecting, while Kitco Metals is Canadian with a global presence and also offers refining services and industry news.
Both companies provide extensive inventories including gold, silver, platinum, and palladium products, with services catering to both investors and collectors; they also offer competitive pricing models, payment options, and Gold IRA services.
Apmex and Kitco prioritize customer satisfaction with responsive customer support, secure storage solutions, and flexible investment options, despite Kitco’s reported complaints which are actively resolved to maintain their A+ BBB rating.
Apmex and Kitco: Company Overview
Apmex and Kitco emerge as prominent dealers in the precious metals industry. Apmex, situated in Oklahoma, is a family-founded company with a rich tradition of coin collecting dating back to the 1970s and 1980s. Kitco, on the other hand, is a Canadian company with a global presence, boasting offices in Montreal and Hong Kong.
Each company has established a reputable position in the precious metals industry. Apmex is renowned for its extensive selection of gold, silver, palladium, platinum, rare coins, and other precious metals. Kitco not only offers a variety of precious metals but also provides refining services and serves as a platform for industry reporting through its media outlets.
Product Range and Diversity
Apmex and Kitco both boast impressive product ranges and diversity. Each company offers a unique inventory designed to meet the needs of both collectors and investors. But what sets them apart?
Gold Coins and Bars
Apmex and Kitco provide an extensive selection of gold coins and bars, tailored to the preferences of both investors and collectors. Kitco’s selection, for example, includes highly sought-after gold coins such as:
British Gold Britannia
Royal Tudor Beasts – Lion of England
South African Gold
and many more.
The extensive inventory of gold products offered by both companies sets them apart in the field, and it’s clear that whether you’re an investor or a collector, you’ll find a wide variety of choices at both Apmex and Kitco.
Silver Coins and Bars
Both Apmex and Kitco, as well as jm bullion, provide a wide array of silver coins and bars at competitive prices, fulfilling the demands of investors and collectors alike.
Considering the current market trends, investing in silver can be a wise financial move. Both Apmex and Kitco understand this and have thus curated a diverse selection of silver products to meet the varying needs of their customers.
Platinum and Palladium Products
Customers seeking platinum and palladium products, including palladium coins, can also find their needs met by Apmex and Kitco. They offer a wide range of coins, bars, and rounds, making them ideal choices for buying gold and other precious metals.
For instance, Apmex offers a range of popular platinum bullion bars, available in sizes from 1 gram to 10 oz. They also provide a selection of palladium bars and rounds, ranging from 1 oz rounds to 100 oz bars. Remember to factor in insurance costs when buying precious metals from these dealers.
Pricing and Buy-Sell Spreads
Pricing, including spot price, and buy-sell spreads are vital factors to consider when selecting a precious metals dealer. Apmex employs a tiered pricing model linked to purchase volume, catering to a diverse customer base and enhancing appeal through competitive pricing and regular promotions. This makes them particularly attractive for bulk purchases, compared to other dealers.
However, the investment process isn’t just about buying; selling your precious metals also plays a fundamental role. Here, Apmex fixes the price on the same day, similar to Kitco’s policy, providing assurance to buyers and streamlining the purchasing process.
Payment Options and Fees
Payment options and fees also become a significant consideration while investing in precious metals. Apmex accepts a wide range of payment methods, including credit/debit cards, PayPal, eCheck, Paper Check, Bank Wire, and even cryptocurrencies such as Bitcoin or Ethereum. Kitco accepts cash, as well as Visa, Mastercard, and PayPal as payment methods. These options provide flexibility for customers when making purchases..
However, keep in mind that some disparities in fees or requirements may arise based on your chosen payment method. Reviewing the company websites before finalizing any purchase decision is always a wise move.
Customer Service and Support
The quality of customer service and support, as well as customer satisfaction, can often determine your choice of a precious metals dealer. Apmex provides a live chat function (active only during business hours), an email address, and a Fax number, while Kitco offers an email address and phone number for customer inquiries.
Both Apmex and Kitco provide a wealth of educational resources on their websites. Kitco features a comprehensive educational section with articles, guides, and resources suitable for both novice and experienced investors. Similarly, Apmex offers a user-friendly website with a product knowledge center and a comprehensive FAQ section.
Shipping, Insurance, and Storage
Considerations such as shipping, insurance, and storage are crucial when buying precious metals. Apmex offers complimentary shipping for orders over $199 and charges $9.95 for smaller orders. In contrast, Kitco charges $15 for orders below $5,000 and provides free shipping for orders above that amount.
When it comes to storage, Apmex provides a custodial storage program through Citadel, their storage affiliate, particularly designed for gold IRA accounts. Kitco also offers storage solutions, with reportedly more advanced facilities.
Gold IRA Services
Apmex offers comprehensive services for investing in precious metals through Gold IRAs, an effective investment method. Apmex provides Gold and Silver IRA investing, with partnerships with prominent Precious Metal IRA Custodians. They also offer an AutoInvest program for regular purchases of Precious Metals products.
In order to qualify for Apmex’s gold IRA services, the precious metals products, including gold, must adhere to the IRS’s minimum fineness requirements, which for gold is a minimum of .995 fine. Additionally, the gold must be sourced from a government mint or a certified manufacturer.
Reputation and Industry Presence
Reputation holds paramount importance in the precious metals industry. Apmex is known for its strong online reputation and lengthy track record in the industry. Kitco, while having a few complaints on issues such as payment schedules, shipping errors, and product pricing, is diligent in resolving customer complaints and holds an A+ rating with the BBB.
Pros and Cons
Each investor’s needs are unique, and what suits one might not necessarily suit another. Apmex is favored by numerous past users in the U.S. due to the substantial volume of merchandise it has managed over the past few years. Non-US residents, on the other hand, find Kitco to be a more favorable option because of its decentralized service structure and the ability to price in various local currencies, including Canadian dollars.
However, there are differences when it comes to selling precious metals. Kitco provides the option to directly select products for sale through their website, whereas Apmex requires customers to fill out a request quote form before proceeding with the sale.
Choosing the right precious metals dealer is a critical step in your investment journey. Both Apmex and Kitco offer a wide range of products, competitive prices, and strong industry reputations. Ultimately, your choice will depend on your specific needs and preferences. Armed with the information in this guide, you are now prepared to make an informed decision.
Frequently Asked Questions
How credible is APMEX?
APMEX is highly credible, with over 20 years in business and a strong reputation in the precious metals industry, backed by positive ratings from the Better Business Bureau and significant sales and purchases.
Is it good to buy gold from APMEX?
Yes, it is good to buy gold from APMEX, as they are a credible and reliable precious metals exchange with over 20 years of experience. Their team of experts ensures the quality of their products.
Does APMEX guarantee authenticity?
Yes, APMEX guarantees the authenticity of every Gold and Silver bar and coin purchased on the secondary market, ensuring that all items sold are genuine and contain the advertised weight, fineness, and purity.
Is APMEX silver real?
Yes, APMEX silver is real, as they extensively test and verify the authenticity of every bar and coin they sell.
What types of precious metals do Apmex and Kitco offer?
Apmex and Kitco offer a wide variety of precious metals including gold, silver, palladium, and platinum, along with coins, bars, and rounds in these metals.