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APMEX Labor Day Special

8/29/2008 01:01:00 PM, Posted by Elise, 2 Comments

We have been able to secure a limited amount of 2008 Silver Canadian Maple Leafs at a great price. They are on sale now through Labor Day at just $1.99 over spot in any quantity. Please buy them while supplies last. This promotion will expire midnight on Monday, September 1, 2008.

Take advantage of this great price on silver bullion by visiting our 2008 Silver Canadian Maple Leafs page.

US Mint Resumes Allocation & Rationing of Gold American Eagles

8/25/2008 01:37:00 PM, Posted by APMEX, 5 Comments

We received word over the weekend that starting today (08/25/08), the US Mint will resume allocation of 2008 1 oz Gold American Eagles, although the prior rationing standards will continue for the foreseeable future.

We do have 1oz 2008 Gold American Eagles available right now. You can also check the Gold American Eagles page on our site for pricing and availability of fractional and proof coins.

This situation has certainly been a roller coaster ride for all of us, dealers and investors. We greatly appreciate the positive and supportive comments from you on this blog as well as in the forums. We want to do everything we can to be your “go to” site for precious metals.

Please take a moment to subscribe to this blog by RSS feed or by email so we can keep you advised in the weeks and months to come.

News Alert: US Mint Suspends Sales Of Gold American Eagles

8/14/2008 04:02:00 PM, Posted by APMEX, 21 Comments

First - The Bad News.

We just received word, the US Mint has suspended sales of the 1 oz Gold American Eagles until further notice and are not accepting new orders from precious metals dealers. This is in addition to the shortage of 1 oz Silver American Eagles.

This comes at a time when many investors around the nation are scrambling to locate silver bullion and US gold coins while prices are attractively low. These low prices seem to be one of the driving factors in this recent shortage, as investor demand has dramatically increased.

Now, The Good News.

APMEX still has very limited quantities of the 2008 - 1 oz Gold American Eagles in stock and ready for immediate shipment to our customers. If you have recently placed an order with us, you can be confident your items have been reserved for you, set aside and are awaiting your shipment date.

For the time being, fractional gold (1/10 oz, ¼ oz and ½ oz Gold American Eagles) remain unaffected by the shortage. APMEX customers are encouraged to take advantage of the low spot prices by purchasing the following items currently in stock and ready for immediate shipment.

Gold Investors:
Silver Investors:

Silver & Gold Shortage Announcement

8/12/2008 11:05:00 AM, Posted by APMEX, 12 Comments

You may have noticed a significant number of products on the APMEX.com website are listed as “Out of Stock” right now. This stock shortage coincides with a low price for the precious metals we provide investors and collectors across the nation.

Most, if not all, dealers are experiencing temporary shortages right now. This blog post will address the conditions leading up to this shortage situation, help to ease your concerns and provide you with great alternative products for you to take advantage of the current low price market.

Causes of Product Shortages

When the price of silver, or other precious metals, drops to a low position, everyone who has been waiting to purchase comes in and buys. Whatever silver or gold is in inventory is quickly depleted – not just in our reserves, but also in those of our suppliers. Ultimately, this reduction in supply increases demand, and will eventually increase prices.

This is basic supply and demand. This effect is felt across the marketplace, from suppliers to dealers to the investors.

What We Do When Product Is Unavailable

When the APMEX supply of a given product is gone, we mark the product on the site as “Out Of Stock”. We do not sell what we do not have. This practice of honesty and integrity has gained us the respect and appreciation of the majority of investors in the precious metals markets.

There are companies that will sell what they do not have, leaving concerned investors completely in the dark as to when a shipment will take place. Sometimes getting delivery of a product from these companies may take months, and getting a refund could take longer.

The APMEX policy of not selling what we do not have alleviates this problem. You simply do not have to worry about not getting the products you purchase from us. This is the cornerstone our business is built on.

2008 Silver Eagle Shortage

You probably have read or heard that the US Mint has been “rationing” 2008 Silver American Eagles. We put these very popular products on the website as we are able to get them from the US Mint or other dealers.

Because the price of silver has been low, these products are quick to sell out – other dealers are reluctant to sell their product, fearing that they too will find themselves in an out of stock situation.

Similar situations are the case for other popular items like:
  • 1 oz Silver Rounds
  • 1 oz Silver Bars
  • 10 oz Silver Bars
  • 100 oz Silver Bars
  • Many Foreign Gold Coins
  • Smaller Gold Bars
We have been incredibly busy lately, filling orders for products and shaking trees, looking under rocks, calling fellow dealers looking for inventory. We will do our best as always to try to find inventory for you to purchase.

Suggested Alternative Products From APMEX

Even though we may be out of stock on some items, this doesn’t mean that we are completely sold out of everything. There are many other products listed on our website that provide a fantastic investment opportunity for you. If you have been waiting for a tremendous time to get involved, when prices are low – now is that time. Take advantage of the market, before increased demand inevitably drives up the cost.

Currently, APMEX.com has the following alternative products in stock – and best yet, ready for immediate shipping to you.

Silver Investors:

Gold Investors

Final Thoughts on Silver Rationing and Shortages

It is not hard to imagine that once the Silver Maples sell out, we will begin to see the same situation as the US Mint. These coins may follow the 2008 SAE’s, especially if the price of silver remains low.

If you are interested in 1 oz coins or silver or gold you should take advantage of what inventory is still available for immediate shipping.

We certainly hope this will help answer some of the questions you may have about the current market conditions and out of stock items. Thank you for your patience and your business. We are out to see what other rocks we can turn over to find more products for you right now.

If you have more questions, please post them here in the comments and we will do our best to address them as quickly as possible. You can also subscribe to this blog (just enter your email address in the upper right hand corner and click "Sign Me Up!") to get the latest updates and information.

Shipping Procedures & Concerns

8/04/2008 07:26:00 AM, Posted by Elise, No Comment

We are back for more of the concerns from our recent survey. In the previous post we clarified the APMEX Cash Discount and tried to address some of your concerns. Make sure you catch up on the previous post and comments too.

Now, on with the next topic that concerned a few people on our survey.

Part 2 - Shipping Procedures & Concerns

Another concern that some people mentioned on the survey was APMEX’s shipping policies and procedures. Here’s an example of one of the comments about shipping from the survey:

“Shipping remains a problem with poor USPS tracking and reporting. There has to be a better service out there.”

We completely understand your concerns about shipping. It’s your investment or collection we’re dealing with. Naturally you’re concerned.

Right now, APMEX is using the USPS Registered and Insured mail to deliver packages. Registered Mail IS Priority Mail, and only selected professionals at APMEX and the USPS are allowed to work with Registered Mail. Your package is secured literally from cage to cage - any person moving your product is required to sign for it.

Because the package is “Registered Mail” it must be signed for at delivery, protecting you from the dreaded “mis-delivery” situation. Registered mail is also insured, which provides a level of protection for both APMEX and our customers.

Any shipping problems are a rarity though. If there is a problem, APMEX replaces your order with a new shipment or refunds your money. Then we take up the fight with the USPS Insurance to get the package or money back.

In short, we maintain responsibility for your product from when you place your order all the way to delivery. We don’t leave you out on the hook to deal with the insurance claims and the USPS. We don’t want you to have to experience that – so we deal with it for you.

There are other delivery services out there. We have tried many of them and continue to spot check them from time to time. We ship and receive thousands of packages with Registered USPS Mail every week, and have found the USPS to be the most trusted, reliable and cost-effective delivery method.

We don’t want to raise any more attention to your metals than you do – that’s why we ship plain brown packages with minimal addressing via the USPS…it all looks very mundane and boring to everyone else.

If you do ever experience any shipping problem, you can contact the Post Master at your local USPS Branch, or simply give us a call.