GoldLine's recent settlement with the Santa Monica City Attorney's Office has shed a disturbing light on the gold selling business, and numerous companies are scrambling to cope with the fall-out. Although even the most reputable companies often find themselves targeted in at least a few negative online complaints; those that deal in precious metals seem to receive more than their share of negative feedback. Recently, APMEX.com's Chief Executive Officer took the time to address some APMEX reviews that paint his company in a negative light.
What is APMEX.com?
A web-based precious metals dealer based in Oklahoma, American Precious Metals Exchange, Inc. is both a buyer and seller of precious metals; however, it's probably more famous for offering smaller investors an opportunity to invest in gold bullion and collectible coins.
Gold Sellers Cope with Negative Sentiment
Recently, companies like APMEX have seen an increase in business, thanks to the prevalence of advertisements warning investors about impending economic problems that might devalue the American dollar. Conservative personalities, such as Glenn Beck and Porter Stansberry, have been accused of using fear-based strategies to drum up interest in the gold market; as inexperienced investors attempt to safeguard their money's value by purchasing bullion.
Although, APMEX.com has no direct relationship with either of these personalities, the gold dealer does have its critics. Some online APMEX reviews accuse the company of everything from overcharging to having poor customer service to outright fraud; however, none of these charges are backed up with any direct evidence, and according to APMEX.com's Chief Executive Officer Michael Haynes, if investors want a more reputable assessment of his company, they should consider its A+ rating with the Better Business Bureau.
"There are a number of ways to verify our dedication to customer service including our rating with the Better Business Bureau, our page at Facebook with over 24,000 likes, our testimonials on our website and various blogs," Haynes said. "Our goal is to have every customer realize 100 percent satisfaction on every purchase. In very few instances, there may be some challenge that arises. In those cases, we have a dedicated team that works diligently to resolve any open issues as quickly as possible, so that any challenge is overcome."
Although there are more than a few online complaints centered on APMEX's supposed inability to provide adequate customer service, Haynes said his company takes each client’s concern seriously.
"We strive to be perfect on every order; and when some challenge occurs, whether it was our issue or a delivery issue with the carriers, we work quickly to bring resolution," he said. "So that we maintain a protocol to receive orders, pick and ship on a timely basis as efficiently as possible, we have terms of sale with each customer. Some customers prefer to talk to one of our account managers if there are questions about those terms or a particular product or any other aspect of precious metals; while some customers prefer to order directly from our website. In either event, we work closely with our customers to make sure that everyone understands these terms of sale so that every transaction proceeds with maximum speed and convenience."
What Consumers Should Know
When it comes to assessing the credibility of any gold seller, consumers are usually smart to put their trust in a reputable organization, such as the BBB. That said, before you deal with any company, you'd be well-served to read over the Federal Trade Commission's guidelines for how to buy gold. Additionally, according to the FTC, investors shouldn't buy gold from any company if their goal is to try to insure against potential widespread financial collapse.