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Suggest pagesAmerican Precious Metals Exchange, Inc. (APMEX)
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This article is an orphan, as few or no other articles link to it. Please introduce links to this page from related articles; suggestions may be available. (June 2010) |
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| Type | Private company |
|---|---|
| Genre | Online Precious Metals Trading Company |
| Founded | 1999 |
| Headquarters | Oklahoma City, Oklahoma, U.S. |
| Area served | United States and Canada |
| Key people | Scott Thomas (President) Michael Haynes (CEO) Michael Garofalo (Vice President) |
| Website | APMEX.com |
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.
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[edit] Company history
Edmond Coins and American Precious Metals Exchange were founded in 1999 by Scott Thomas. APMEX.com was launched in 2003 and began trading precious metal coins and bars online.
APMEX is very active in both buying and selling most precious metal products, especially bars and coins. They carry all U.S. Mint bullion products including gold, silver and platinum American Eagles. They also sell many Royal Canadian Mint Products including the gold, silver, platinum and palladium Maple Leafs, as well as Krugerrands of South Africa, and Philharmonics from Austria. Additionally, they make markets in most bullion coins from any other foreign country.
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[1] and The Wall Street Journal.[2]
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,[3] 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, Oklahoma
1999 – 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
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 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.
