American Precious Metals Exchange, Inc. (APMEX)
American Precious Metals Exchange, Inc. (APMEX) is an online precious metal dealer and is one of the fastest-growing precious metal dealers in the United States. They serve a diverse clientele from self-directed investors to large institutional clients. It was founded in 1999 in Edmond, Oklahoma.
APMEX is a member of the Industry Council for Tangible Assets, the International Precious Metals Institute and they adhere to the rules of the Better Business Bureau.
Company History
Edmond Coins was founded in 1999 by Scott Thomas. He then formed American Precious Metals Exchange in 2003 and began trading precious metal coins and bars online.
The principals of APMEX are members of the American Numismatic Association and many other industry organizations. They are regularly quoted as authorities in the precious metal field by such publications as Newsweek and The Wall Street Journal.
APMEX was chosen by an undisclosed party in 2009 to sell 1 of 5 $1 million face value coins produced in 2007 by the Royal Canadian Mint. According to a story by The Oklahoman, APMEX was chosen because it markets to thousands of gold and coin enthusiasts through its Web site.
APMEX is annually audited by the firm Grant Thornton LLP.
Historical Timeline 1999 - Edmond Coins founded in Edmond, OK
2003 - American Precious Metals Exchange is formed
2003 - The website www.APMEX.com goes live
2004 – APMEX staff increases to 11 employees
2005 – APMEX staff now numbers 19 employees
2006 - APMEX outgrows its original location and moves into a much larger facility in Edmond, Oklahoma
2007 – APMEX staff grows to 53 employees as revenues continue to skyrocket.
2008 – APMEX ends the year with 62 employees and an even larger facility on the same location.
2009 - APMEX begins international shipping with first shipments to Canadian customers.
2009 – APMEX signs agreement with Visual Image advertising agency who will promote the APMEX brand.
2009 – APMEX is now represented by JPMorgan Chase as its banker.
2009 – APMEX signs with the 5th largest auditing firm in the nation - Grant Thornton LLP .
2010 – APMEX leases the site of the former Federal Reserve Bank of Oklahoma City as its new home and moves operations to that location. The massive building was constructed in 1922 to Federal Reserve Bank guidelines. The building is a veritable fortress and may be the most secure location in the state of Oklahoma.
See also
- Gold as an investment
- Silver as an investment
- Platinum as an investment
- Palladium as an investment