American Precious Metals Exchange

We first became aware of the concern when the customer contacted us on 12/29/ When doing some preliminary investigating of the delivery, though the customer is from the Philippines, he had it shipped to a relative in SingaporeThe package was delivered on 11/24/and signed for by his uncleThe customer alleges the package was not opened by anyone until the day he contacted us, which is more than weeks after it was delivered to someone elseAll of our shipments are insured against lossIt is important to note that no refund or reshipment will occur until our insurance underwriter has confirmed proof of loss through the investigation An investigation about the delivery was started with the carrier when we first heard from the customerWe are waiting for UPS to report back with details about the shipmentPlease note that UPS requires any damage or loss be reported with days of receipt of the shipment, and this deadline was missed by the customerWe have also requested the customer file a police report to officially document the lossWe may require other assistance from the customer throughout the investigation and are hoping he will complyAPMEX video records the packing process of all ordersWe have reviewed the video for this order and can confirm all items purchased were packed into the boxSince APMEX shipped all items not just 2, it is unfortunate the customer no longer trusts usAny loss incurred after the package was shipped would not be the result of actions taken by APMEXWe sincerely apologize for disappointment from not receiving what was shippedSince that investigation is not complete, no refund or reshipment will occur at this timeWe understand it may be difficult to do, but we ask the customer to remain patient while we work through the process of investigating the loss

We apologize for the miscommunication from the sales level and then again by the issue not being reported to management during your contact afterwardsWe are processing an ACH refund of $into the originating payment account for this order and will be leaving the $store credit that was already applied to the customers APMEX account

We have been in contact with the customer, discussing his experience and how unlikely it is that what has happened was intentionalIt is also not likely that the coin received in exchange was the same one he returned, given that we had a good supply of inventory on hand Nevertheless, we understand it has been a frustrating endeavor for him and he simply wants to be done with APMEXA means to get him a coin in the expected, sealed condition that would be proven to be different from the one he was returning was offeredWe respect his wishes to close out his APMEX experience and processed his refund as requested

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me Sincerely, [redacted]

Initial Business Response / [redacted] (1000, 5, 2015/08/13) */ Contact Name and Title: [redacted] CS Manager Contact Phone: XXX-XXX-XXXX Contact Email: [redacted] @apmex.com My claims person came to discuss this issue with me a couple of hours ago to determine next stepsThe next step being to reship or refund you for the product you paid for but did not receiveWe sincerely apologize if you felt we were non-responsive to your loss We had the correct address for the shipment with apartment Apartment was a typo in an e-mail correspondence from my teamI apologize for the miscommunication We learned your apartment office does not sign for USPS packagesWere able to confirm with your apartment complex today that they will sign for packages shipped via UPS, so we will be reshipping your order that wayYou will soon receive paperwork to sign that will allow us to complete our investigation of the loss and reship your order We sincerely apologize for how long this investigation has taken and hope that you are pleased by the outcome now that it is complete

We do ship to PO Boxes however we must ship credit card orders to individual named on the card in line with our anti-money laundering protocolThis was communicated to the customer via phone communicationCustomer refused to follow our protocol and we were forced to cancel the order within our rights as outlined in the user agreement that the customer agreed to before being allowed to orderWe do apologize for any confusion and would be happy to reestablish the order if the customer is willing to follow our shipping procedures

We apologize for the delays in getting this transaction completedWe send kilo bars away for verification of authenticity since we are unable to do so in houseWe apologize if we omitted the time this would take to process the trade orderSince we are forwarding it on for inspection, it can take a few days after we receive the bar to know whether or not it is genuine The assayers we use were quite busy, but they prioritized reviewing the customer’s bar as a favor to APMEXLate Monday on May 8th, we received word that the bar is genuine and can proceed with exchanging the gold bar for the platinum bars as agreedWe expect to ship the platinum tomorrow and pay the reminder on May 9th We spoke with the customer the day the complaint was filed and didn’t sense a problem then, so we’re surprised to have raised this level of concernWe sincerely apologize for any miscommunication or misunderstandingNow that the gold has been verified as authentic, the customer can expect to receive his platinum within a week or so

The price we agreed upon was $1,per bar and that’s what he was paidWhile the customer now feels the product he had to sell is worth more than he was paid, the details of what he had to sell to us and what we would pay were thoroughly discussed By getting the quote, the customer was under no obligation to sell to usIf he felt this amount was not fair, he could have simply declined to sell the bars to usHe even did so a couple of times during the conversationThe moment he agreed to sell to APMEX, the price was lockedThat means regardless of market activity going forward, we would never pay him more than that amount per bar and we would never pay him lessAPMEX never offered the customer a price of $1,per barSince that amount was never discussed, there should be no expectation for him to receive that amount nowPricing was discussed at great length during the call as well as every dollar mattering to the customer since there were bars involvedWe even shared why we could not offer money more than we didOur best offer was on the table and he accepted itWe were transparent about pricing during the quote and paid him one business day after the product was receivedWe are voluntarily sharing our recorded phone call with the customer so he has the same record of the conversation that we do, including the agreed upon priceThere is no more payment due to the customer

These items were mistakenly listed on eBay at approximately $320ea while their actual value is nearly $2,000eaCustomer did placed two separate orders via eBay for five of the item totaling $when actual total cost of purchases should have been close to $10,In line with our posted terms and conditions we elected to cancel both orders and issue a full refundCustomer then requested to be allowed to purchase one of the items at the typographical price for which we for the same reasoning the orders were cancelled could not fulfillWe have been clear in our communication that we are not in the position to fulfill this request and the customer was notified as such through eBay before this complaint was filedAgain we apologize for any inconvenienceAs stated in our terms and conditions on eBay: Pricing or Typographical Errors We work hard to provide accurate Product and pricing information to youHowever, pricing or typographical errors may occurIn the event that an item is listed at an incorrect list price or with incorrect information due to an error in pricing or Product information, APMEX shall have the right, in its sole discretion, to refuse or cancel any eBay Orders placed by you for that itemWe will either contact you for instructions or cancel your eBay Order and notify you of such cancellationPrices and availability are subject to change without noticehttp://stores.ebay.com/APMEX/Terms-and-Conditions.html

Initial Business Response / [redacted] (1000, 6, 2015/09/17) */ APMEX has a return policy of daysWhen you get past the days, then you sell your metals if you no longer want them, whether selling them back to APMEX or someone elseIt makes sense that the customer is looking to sell his metals since he can no longer return them I have researched the complaint and discovered some opportunities to improve our communication of pricing when selling to APMEX I can verify the published price for the item in question was $per coinI've listened to the calls between APMEX and the customer and can also verify he was quoted $per coin$less than the posted price Though we publish the prices we will pay for items, we also have disclaimers that speak to calling us for current pricingPrices are subject to change and may be more or less than displayed and are subject to quantity discountsI will enclose and example of that language and where it appears on our site if I can enclose an attachment to the response The opportunity we discovered as a result of the claim is to feature this language more prominently and in more placesWe are working to make these improvements to our site as quickly as possible We will not meet the desired resolution which is to buy back his metals for what he paid for themThat price is almost $more per coin than the $we are paying for them nowGiven our current inventory levels, the best we can do at this time is $per coin Initial Consumer Rebuttal / [redacted] (3000, 9, 2015/09/18) */ (The consumer indicated he/she DID NOT accept the response from the business.) I'm glad you agree that your disclaimer is not prominent and requires users click links, hover links, or navigate elsewhere on the site Since the company is not interested in a solution, please ensure that their rating is affected accordingly I will proceed with leaving additional reviews/feedback and referring this case to the FTC, which appears to be the proper entity to investigate their online price advertisements Final Business Response / [redacted] (4000, 13, 2015/10/02) */ We are sorry he feels we intentionally mislead himWe make no claim anywhere on our site guaranteeing the published price when buying metals We have provided documentation from our site indicating that the prices may vary due to market fluctuation and our inventory levelsWhat's important about calling out inventory levels as well is we may not be interested in purchasing any of a particular item regardless of the posted price if our current inventory is high This variability is also why people wanting to sell to APMEX absolutely must contact us prior to sending us their metalsThis allows the two parties to agree upon a price and quantity of the items being transacted before anything is sent to usThere is no opportunity to be unethical or misleading when the customer is the one in control of the deal, deciding to go forward and complete the sale or declining the offer We are sorry the customer's purchase has not appreciated by now as he hoped it wouldBuying his coins for what he paid for them is not a fair resolution since the difference is almost $per coinWe are also sorry he is so disappointed in our company and feels our business practices are not above boardWe have caused him no harmHe simply didn't like the current rate we were paying for coins he wanted to sell us and he is upset

Initial Business Response / [redacted] (1000, 8, 2015/06/23) */ Contact Name and Title: [redacted] CS Manager Contact Phone: XXXXXXXXXX Contact Email: [redacted] @apmex.com Our return period for any purchase is daysNormally within this time period customers can determine whether or not they are happy with their purchase and chain of custody can be relatively maintained to ensure the item purchased is the one being returnedThe request to return this item approximately months after purchase is not something we have honored Since the specific issue is related to the grading of a particular coin, we have checked with the product manager for the item to assist with the concern this long after purchaseSince we do not have a similar coin to offer in trade, he was fine accepting the return of the unsatisfactory coin for a refundAs such, we will allow the exception to our return policy We will be reaching out to the customer separately to make arrangements to receive the coin from him and issue a refundWe apologize for any frustration or inconvenience this has causedWe do not object at all to customers sending their purchases out to be graded by recognized resourcesWe just ask that they do it soon after purchase to maintain a reasonable chain of custody should a return be desired

Initial Business Response / [redacted] (1000, 6, 2016/02/09) */ We reached out to the customer in an attempt to resolve the issueWe sincerely apologize if there's any misunderstanding about the product offered First and foremost, our satisfaction guarantee appliesHe may return it for a refundShould we have more inventory of this item, it may also be exchanged Secondarily, any graded coins sold by APMEX are not graded by APMEXThey are graded by third-party professional grading services such as PCGS or NGCWe keep the coins and their grading slabs "as is" and do no reworking of any kind to these itemsAny concerns about grading should be directed to the service that performed the gradingThey are responsible for the grade, not the resellerOffering a non-biased opinion of a coin's condition is why grading services exist We look forward to hearing from the customer to assist with the return and refund or exchange of the coin since he's clearly not happy with it Initial Consumer Rebuttal / [redacted] (3000, 8, 2016/02/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) I am not interested in dealing with this company at allI have had $tided up with them for over a monthI can not afford to have my customers money tided up I had to refund there depositAs I said before I am a licensed precious metals dealer in PAI can't return this to the company for fear they will just send it out to someone elseI am selling said coin at scrap at a loss and will not do any business with this company and advise others not toThey don't offer any compensation for my loss only a refund or exchangeI have already lost the sale and hopefully not this customerThank you for your time in this matter Final Business Response / [redacted] (4000, 10, 2016/02/17) */ We've reached out to the customer numerous times in the past week to discuss the issue to resolve it, but to no availResolving an issue requires two parties to interact to ensure the final solution is amenable to everyoneAs such, we won't discuss possible compensation in a one-sided voicemail message Returned items that did not meet customer expectations are closely examined to determine what should be done with themProducts causing dissatisfaction are never simply returned to stock as assumed by the customer The coin in question was graded by a grading service, not APMEXIf something happened to the coin after it was graded that caused new wear or damage to it, of course we would not resell it if this were brought to our attention We stand behind all the products we sell with our return policyA customer can always get a refund if product is returned days from receipt of the orderThis customer has an open invitation to return the item for a refundWe would also cover the cost of shipping to return it to APMEX so the customer pays absolutely nothing for an item that didn't meet his expectations Final Consumer Response / [redacted] (2000, 12, 2016/02/18) */ I have been contacted by apmexI will be keeping the coin in questionAfter review it may have been damaged in shippingIts hard to tellIt was warped properly but may have had a larger package on top of itI have found a buyer for this coin at this timeI would like to thank you for your quick response in this matter and I wish to withdrawal the complaint at this time

Yes, the compensation we have issued pursuant to this complaint is because the item did not ship when it was expected to and for any subsequent inconvenienceWe apologize for any misunderstanding about our response

We apologize for how long this has been taking to resolveWe have confirmed that APMEX shipped the order completeHad we made an error in doing so, it would already be resolvedVideo documentation either confirms accurate packing or reveals any errors, which is why it is an essential tool for our industry.It is unfortunate the customer does not trust the validity of the video recording of accurately packing his order for shipmentPlease consider we're located in a former Federal Reserve location featuring fully functional vaults, metal detection screening of all persons entering and leaving the vault, a highly trained security staff, and security cameras at key checkpoints including the dockThere is no opportunity for metal to leave APMEX without being shipped and all shipments are loggedWith all due respect, the customer is not missing metals because APMEX didn't ship them.We are waiting for a final word on what might have happened to the package while it was in a facility abroad for days before being picked up by the customerLoss has occurred somewhere, knowing the order was shipped complete but the customer is shortThis is what our insurer would like to better understand before they will pay the claimWe appreciate the customer's continued patienceWe understand it is difficult to wait

Initial Business Response / [redacted] (1000, 8, 2015/09/17) */ We are aware of the unfortunate situation the customer encounteredOur insurance company will not approve a claim allowing us to refund or replace what was ordered without more informationWe are working with our insurer and the customer to determine what types of documentation will lead to closure of this incident Initial Consumer Rebuttal / [redacted] (3000, 10, 2015/09/18) */ (The consumer indicated he/she DID NOT accept the response from the business.) At the end of the day I was scammed is the reason I do not accept Final Business Response / [redacted] (4000, 15, 2015/10/02) */ APMEX is not the one causing delays in resolving this matterWe and our insurer have not been able to complete an investigation to support paying a claim for the shipment There has been too little documentation about what happened, including a police report to officially document the lossFiling this report has been the customer's responsibility since day one and has only recently completed this We look forward to receiving a copy of this documentation so the investigation can recommence and a final determination be made about the claim

We are verifying that this bar in question will not fit the bezel and will updated our product description as necessaryWe do apologize for any inconvenience but we are not able to accept the item back for a cash refund as this has been in the customers possession for nearly seven months while our return policy is limited to seven days from the time the product is receivedGiven the unique circumstance are willing to accept a return of the item for a store credit refund that can be redeemed through a future purchase

We sincerely apologize for the customer's delivery issuesThe claim documents were sent as promised in before the end of business day on Friday, January Since they were not received, we can only assume they went to the customer's SPAM e-mail folder because they have attachments.We just spoke with the customer moments ago, and resent the documents we issued on FridayWe have confirmed the customer is now in receipt of them, and that he sees the time stamp indicating they were sent when promisedAdditionally, they are not to be signed electronicallyThey are to be printed and signedThe customer may opt to e-mail the signed, then scanned documents back as attachments to expedite the refund rather than mail themOnce we are in receipt of the signed documents, we will issue the full refund and mail the check to the customer as requested

Complaint: [redacted] I am rejecting this response because:Yes will wait for the investigation to be done by Apmex and UPS.The video shows Apmex personnel packing items to a box not completely sealing it , the items could have been removed later.Sponge packing shows marking for a coin and other , nothing else.The delay in opening package was due to the owner of paid items was traveling we have boarding pass and tickets to proof that.Definitely and honestly one of the party Apmex or UPS is responsible for this loss and we pray that truth be revealed.God bless & Sincerely, [redacted]

RevDex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is satisfactory to me. Sincerely, [redacted]

Our user agreement does state that an order is a binding contract between the customer and APMEXThat same agreement goes on to state that in the event of a pricing error, we reserve the right to cancel the orderBy creating an APMEX account and/or placing an order, the customer is agreeing to
all of the terms of the agreementIf he or she cannot do so, then the order should not be placedWe have exercised the right to not fulfill the order We have apologized for the error and compensated the customer for not fulfilling the ordersThere is no promise of compensation in the user agreement, but we did feel a token of apology was appropriate for this situation