At APMEX, our humble beginnings have driven our growth, values and success. We nurture our employees while never forgetting those who got us to where we are today – our customers. Learn more about how we got started, how we continue to grow and how we give back to those around us.
What started as one man selling his grandfather’s coin collection has grown into a billion dollar company with more than 300 employees. See our journey from a small strip-mall storefront to a multi-faceted business operation that strives to exceed expectations with a best-in-class shopping experience. At APMEX, we always put our customers’ needs first. Read the Transcript
Many years ago, my grandfather was a small mail order coin dealer. And when I was growing up, I would go over to his house because my mother had kidney problems and she needed dialysis. He would have me sort pennies for him in his living room. And so that kind of started me off in collecting coins. And I’d put together these little Whitman folders of pennies, nickels and dimes, and searching through dates and trying to find the empty holes in my album that I needed with what he had
After he passed away in 1982, we kind of took the inventory that he had, in a basement, and we literally just closed the door and said, "We'll deal with this another time." It wasn't until 1999 when my grandmother started to get older and we needed to move her into a place where she could have greater care than she was giving to herself. We went back to New York which is where we were from. We opened up the door to the basement, and it wasn't like you stumbled into a treasure chest of gold and silver. It was probably at most $100,000 worth of inventory that was there. But somebody needed to do something with it. And so we started to take some of these products and list them and sell them on eBay because that was really where we could get, I would say, maximum value for us as a seller.
We started buying and selling old coins. After doing that for about six months, we wind up running out of space and I thought, "Wow, wouldn't it be great if we could take these products that we were buying, put 'em on our website." Our customers supported it, our employees got behind it, and it just kept getting bigger and bigger and bigger and bigger.
Our building is the former Federal Reserve Bank of Oklahoma City. It was built in the early 1920s. It's an 80,000 square foot fortress. We've got multiple vaults within the facility that are walls ranging from two to three feet thick. For us, it's perfect because we're in a building that was originally designed for us almost a hundred years ago to house gold and silver, and it's come full circle now.
APMEX is really about offering the best overall shopping experience to our customers. We're really focused on making sure we live the experience all the way through and we own that experience. A lot of times people just want to sell you a product. We want to educate you. We want you to really understand the products and understand the options that are available to you.
The reason precious metals are a good investment for people is they serve as a defensive asset during times of political and economic uncertainty.
We deal with mints from all over the world. We try to go find those unique items such when people come in, they can locate something they've never seen before.
What's nice is we have the inventory readily available on the shelf at all times. And that allows you to sleep at night knowing, as a customer, when you give us your funds, not only are you going to get product shipped to you quickly, you can feel confident that we had the product onsite at all times and that we're actually capitalized very well to be able to support you.
So many of the things that we do that are different from other online retailers is focusing our energy and efforts around providing a great website experience for our customers, delivering a broad selection of products that they can find easily on our website.
You want a wide assortment. You want to be able to find that assortment. You want to be able to have a quick identification and a quick check-out process.
Whenever there's big moves in the stock markets, people are going to come in and transact with the website, so we need to make sure that it's always up, and that people feel confident that they are able to complete their transactions.
We also want to offer a two-way market. We want you to have the ability to sell back to us as well. When that time comes, we want to divest of your investments.
The beauty of it is, is that you can always go online and get a good feel for what it is you'll be able to sell the product for at any given time.
One of things we do is we take great care in making your packages indistinguishable in the process. We also want to make sure, at the same time, that all your customer information is protected.
This is a significant investment that people are making, and they need to have a trust factor, and they need to know that when their product comes it is treated at the level that they invested it in.
We have a great selection of product, we have depth of inventory, and we put those products, in many cases within 24 hours from the time in which they order it. We want to make sure that our customers have a good experience and that they come back again and again and again.
Even though the APMEX company first started with only four employees selling Precious Metals out of a small storefront, APMEX has grown to an 80,000-square-foot building with more than 300 people on staff. Over the last 20+ years, we have sold more than 130 million ounces of Gold and Silver in more than 60 countries around the world. Our employees have always been a vital part of our success, helping us become a leader in Changing How the World Buys Gold™. From our initial rapid growth to expanding into a worldwide business as a top internet retailer, our hardworking employees believe in what we do.
An Established Business
APMEX has grown into one of the largest eCommerce retailers in the Precious Metals industry since opening its doors in 2000. Our founder saw that selling Precious Metals online was going to be the way of the future and our online platform has allowed us to sell Precious Metals products to customers worldwide and at a wide range of price points. With over 20 years in business, our experience has helped us become a leader and we use our position to provide educational resources for beginners and experts to inform and ensure that we know our stuff.
A Top E-commerce Company
In 2017, APMEX was named #45 on Internet Retailer® magazine’s Top 500 Guide while also ranking #1 specialty e-retailer for the third year in a row. APMEX is also a Better Business Bureau certified company with an A+ rating and has a 4.9 rating out of 5 stars on Shopper Approved from over 155,000 verified customer reviews. The owner Scott Thomas won the Presidential Award in 2009 from the American Numismatic Association and APMEX was voted Best Place to Work in 2019, 2020, 2021, and 2022 by The Journal Record. We are also proud to have the only fully shoppable mobile app in the industry because we have taken note of consumers’ needs and worked to make their lives easier.
Growing up in a household that struggled with food insecurity, APMEX Founder and President Scott Thomas finds much to appreciate in the mission of the Regional Food Bank of Oklahoma. His passion for helping hungry Oklahomans has spread throughout the company, with regular food and fund drives and volunteer opportunities that employees at all levels of the company enjoy participating in. It is important always to remember who helped us get to where we are now, and without community support from organizations like the Regional Food Bank of Oklahoma, our president might not be where he is today. This is why we give back and contribute to the fight to end hunger in Oklahoma. Learn More