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Seems my earlier post has gone extinct(???), so I am posting again and will do so in ad infinitum:

I've had one experience with APMEX and it was very bad.

My experience with on-line purchasing and banking activities is pretty substantial and I've never had a "bad" transactions to date. That all changed with APMEX.

My issues with APMEX are 1) they failed to disclose important information about their payment policy on their website, 2) their customer service "department" was unresponsive and unreasonable especially in light of their failure to disclose, 3) they do not have a customer complaint escalation service and 4) their Market Loss Policy is liberally implemented to APMEX's advantage.

My situation I hope is unique.

I opened my account, placed an order, set up my payment at the nation's largest bank and my payment never went through. I later learned the bank had blocked my transaction, was contacted by their Fraud Dept. and to add insult to injury, learned that APMEX was AWARE that my bank didn't allow these transactions with APMEX. APMEX should have disclosed this information on their website in which case I (along with many others) would have never opened an account or placed an order.

It goes downhill from there (very long story) ultimately with APMEX sending a "market loss and cancelation fee" that I refused to pay to a collection agency.

I was told that "If we do not receive a response by 3/22/10 your order will be cancelled and subject to our "Market Loss". Had they in fact canceled the order in accordance with their customer agreement on 3/22/10 there would have been no loss. They chose instead to use 3/29/10 as the cancellation date providing them with a way to charge a market loss fee and a cancellation fee.

Bottom-line: find another company to use cause if in the "slighest or remotest" of chances there is/are any difficulties with your transaction, you're going to get the service and empathy you'd probably expect from the IRS.

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Anonymous
#246143

Did you end up paying through the collection agency? please let me know

all1111
#235680

Apmex customer service is terrible.I'am still trying to find out were my 60K is that they owe me.

All I get is the run around from there cs reps.Wont do business with them again.

onemanprotest.com
#218652

APMEX is dishonest business !! They STOLE part of my order of silver coins! why? read the analogy below:

Analogy:

DAY 1 you go to the market (Apmex) to get groceries, and you grab a pack of apples. On the register you realize the pack has too many apples and you can't afford. You tell the cashiers and they say: I'm sorry sir, if you decide not to take at this point you own us a fee, even if you decide not to take the pack of apples. The market is full of people shopping and someone would probably buy that same pack of apples right away. You say sorry, I can't afford it. They insist you must pay the "debt". What debt? I didn't take nothing out of the store. They can sell it to another customer. They know about you and send the "dogs" on you. Collection, calls, letters, non-stop !

DAY 2 Many months later you finally have the funds to get a pack of apple and you think with yourself: I would like to compensate those people in the market for the last attempt to get the apples. You know about many other retail shops that carry apples as good as them. But it's a matter of honor, you go back there and ask the sales person:-listen this is what happen to me in the past when I came to get a pack of apples (you tell me about it) in your store, and you ask directly: can I come in to shop today in your market? The previous issue will affect me? I came here today to show that I care for these moral things, attempting to compensate if I ever created trouble in...

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Anonymous
#167450

Sounds like all the people who were ripped off by APMEX should sue them in a CLASS ACTION lawsuit.... I will try to get a website up where we can express our feelings... and work toward a legal solution to make us whole again..

SonomaJim
#164555

First, I'm surprised that APMEX responded to this post. They've spent more time trying to rationalize my post than they did trying to work out a reasonable solution.

Second, my post was not an on-line 'rant' but rather a factual disclosure of fact. And, an implied warning to anyone wanting to do business with this company. When your bank blocks a transaction and their Fraud Department contacts you about the transaction this would be a 'red flag' to any reasonable person.

Third, disclose the facts and circumstances of this transaction. The facts are that I opened an account (based on the payment policies disclosed on you website), placed an order, set-up payment with BofA who blocked the payment. APMEX later disclosed to me that they were aware that BofA was blocking two forms of payment.

Fourth, the APMEX user agreement (which contains payment policies) did not mention the fact that BofA had blocked wire transfers and EFT with your company. APMEX knew this to be true before I set up my account but DID NOT DISCLOSE this information on their website.

Fifth, you thoroughly disclose your Market Loss policy on your website this is true. However, as I stated earlier, you did not abide by the policy. Instead of using a 3/22/10 date for market loss calculation you used 3/29/10 as the date for calculation resulting in an outcome beneficial to APMEX.

Finally, don't be fooled by the 'propaganda' embedded in the last three paragraphs. ...

Wrong!

The preceding is just what you can expect from APMEX when you have a problem with a transaction. Which will be often.

Spend your money with APMEX at your own peril!

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SonomaJim
#164554

First, I'm surprised that APMEX responded to this post. They've spent more time trying to rationalize my post than they did trying to work out a reasonable solution.

Second, my post was not an on-line 'rant' but rather a factual disclosure of fact. And, an implied warning to anyone wanting to do business with this company. When your bank blocks a transaction and their Fraud Department contacts you about the transaction this would be a 'red flag' to any reasonable person.

Third, disclose the facts and circumstances of this transaction. The facts are that I opened an account (based on the payment policies disclosed on you website), placed an order, set-up payment with BofA who blocked the payment. APMEX later disclosed to me that they were aware that BofA was blocking two forms of payment.

Fourth, the APMEX user agreement (which contains payment policies) did not mention the fact that BofA had blocked wire transfers and EFT with your company. APMEX knew this to be true before I set up my account but DID NOT DISCLOSE this information on their website.

Fifth, you thoroughly disclose your Market Loss policy on your website this is true. However, as I stated earlier, you did not abide by the policy. Instead of using a 3/22/10 date for market loss calculation you used 3/29/10 as the date for calculation resulting in an outcome beneficial to APMEX.

Finally, don't be fooled by the 'propaganda' embedded in the last three paragraphs. ...

Wrong!

The preceding is just what you can expect from APMEX when you have a problem with a transaction. Which will be often.

Spend your money with APMEX at your own peril!

Show more

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