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Does APMEX ever sell fakes?

I bought some stuff from APMEX and I’m wondering if anyone knows how legitimate they are?

Like do I have to worry I might get something fake?

Or can I rest assured that anything I buy from them is 100% legit?

Comments

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @Oldhoopster said:
    While you can never be 100% certain that a company doesn't sell fakes, Ampex is a well known volume seller. I don't think they would jeopardize their reputation by knowingly selling fakes. Stranger things have happened, but personally, I wouldn't have a concern, and if I did receive a fake from them, I would expect them to make it right. Just my thoughts

    Oh ok awesome thanks! I’m only asking now because previously I only bought small amounts (~$250) of silver but recently I placed my largest order ever and bought a full 1oz American Gold Eagle in their “Mint Direct” packaging.

    However I saw videos on YouTube where they were showing off counterfeit coins & bullion and some of the counterfeits are indistinguishable from the real thing. They have the PAMP logo and assay numbers and everything.

    It just made me worry about whether that could’ve happened to me.


  • JBKJBK Posts: 8,181 ✭✭✭✭✭
    edited November 8, 2020 3:38AM

    I believe apmex is a mint bullion distributor so a new coin like that is legit.

  • Gam3rBlakeGam3rBlake Posts: 162 ✭✭✭

    @JBK said:
    I believe apmex is a mint bullion distributor to a new coin like that is legit.

    Oh ok awesome thanks!

    I wasn’t sure if I should go to a coin shop or something to be sure but from what you’re saying APMEX is a legitimate seller that wouldn’t risk their reputation just to sell 1 fake gold Eagle and make $1900.

  • DeutscherGeistDeutscherGeist Posts: 2,739 ✭✭✭

    APMEX is a trusted source to buy coins, especially the new stuff coming out of the mints. They also sell older world coins, both graded and ungraded. Their customer service is also very responsive. For example, whenever I happen to get a cracked capsule on one of the Perth Mint coins, I just take a photo and write to their customer service. They ask if a new capsule would be acceptable or some other arrangement. If a newer silver coin is received with toning, just as another example, they will also work with you on that. They get the American Eagle coins directly from the US Mint, so you have nothing to worry about. It is the ancient world coins that they get from various sources that could be a potential problem, like a fake British sovereign accidentally being part of their inventory, but they never would sell such a thing on purpose and I am sure they have their expert screeners to ensure consistency.

    You should always check the coins you get from the mail, no matter who the seller is, as soon as possible because there may damage during shipping that has to be reported immediately, wrong items, or the occasional counterfeits. The rate of getting fakes becomes near zero when dealing with reputable dealers, but you still have to do some checking. Since you must like the coins you purchase, looking at them closely when getting them should not be that much of an extra step.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974
  • JBKJBK Posts: 8,181 ✭✭✭✭✭
    edited November 8, 2020 7:21PM

    If I wanted new US bullion they are one of the places I would go.

  • JimnightJimnight Posts: 7,698 ✭✭✭✭✭

    What @Oldhoopster said.

  • MrSmithMrSmith Posts: 38 ✭✭
    edited November 12, 2020 8:03AM

    Apmex sold me a "cleaned" coin, but did not state it was "cleaned" on the listing. I found out it was cleaned when I sent it in for grading and it came back "details-cleaned". Although I am rather upset about this, And 'no' I did not pursue them on the matter as a trusted dealer told me it would probably turn into a "he said" "she said". I will note this was about 7 years ago. Regardless I'm still very happy to have the coin and I still buy from them.

  • Downtown1974Downtown1974 Posts: 5,463 ✭✭✭✭✭

    Just saw this, and I don’t mean to be redundant but you don’t have anything to worry about with APMEX. 100% legit. And that holder they came in will ease any worries your buyer will have in terms of authenticity when/if you sell.

  • DeutscherGeistDeutscherGeist Posts: 2,739 ✭✭✭

    @MrSmith said:
    Apmex sold me a "cleaned" coin, but did not state it was "cleaned" on the listing. I found out it was cleaned when I sent it in for grading and it came back "details-cleaned". Although I am rather upset about this, And 'no' I did not pursue them on the matter as a trusted dealer told me it would probably turn into a "he said" "she said". I will note this was about 7 years ago. Regardless I'm still very happy to have the coin and I still buy from them.

    Thanks for sharing. You might have handled it fine. I doubt they purposefully did that. Sometimes cleaned coins get by screeners. In any case, just my opinion,I think if you had taken this up with them, they would probably work with you to remedy the problem. Afterall, it is not unusual to send a coin in for grading and then discovering it was cleaned. They will see that the coin looks like AU (or whatever grade they sold it as), it just happened to be cleaned. The timeline would match your story and your history with them would check out OK.

    "So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve

    BST: Tennessebanker, Downtown1974
  • DG, thank you for your reply. I'll admit to a bit of naivete when I purchased the coin. This was my first purchase of a gold coin. By the time I sent the coin to be graded a bit of time had passed and I assumed it was too late to do that. Which was why I asked the dealer his opinion. I really really like the coin and the price was quite fair. Maybe that was why it was priced as it was. Maybe it was supposed to be marked "cleaned" and the typesetter forgot. I kept the coin in raw condition and enjoy showing it to people as a 1800's example of money. I don't see that year come up often, so as I said before , I'm really happy to have it all things considered. Sorry for the long reply.

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