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[Summary: APMEX exposed to major bankruptcy [November, 2018]. Business running as usual.]
[See also: Bullion Dealer Data] APMEX ResponseNovember 13, 2018 2:10PM ESTHere is the response I received from APMEX President Scott Thomas (printed with permission):
This satisfies the concerns that I had. The RMC bankruptcy clearly is not good news for stakeholders in APMEX, but this response gives me reason to believe that the RMC bankruptcy will not interfere with APMEX's operations. I have chosen to not notify people that I created this page, as I see no reason to stop doing business with APMEX. I would like to reiterate some basic tips, however, that apply to APMEX as well as any other online bullion dealer. With any dealer, you should check online before making a significant purchase, to check to make sure there aren't reports of shipping delays. You shouldn't trust your metal to be stored with whoever you buy it from, and never send more money than you can afford to lose. See the link at the beginning of this paragraph for more tips.
Page StartedNovember 12, 2018 1:35PM ESTToday I am starting a 'placeholder' page for APMEX. My hope is that I will not officially start following APMEX, but want to get a head start in case it is necessary. I am starting this page because a few hours ago court documents revealed that APMEX has significant exposure to a bankruptcy. In layman terms, this means that they are owed money by a company that is in bankruptcy, and it is enough money to warrant me paying attention. That said, APMEX has for a number of years been the main company that I refer people to when they ask me for my opinion on the safest retail bullion dealer. I believe they have one of the safest corporate structures, they historically have always been one of the fastest dealers to ship, have very few concerning complaints, and big enough to be able to sustain bumps along the way. I have reached out to APMEX to see if I can get more information from them on their exposure to the bankruptcy.
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