OKLAHOMA CITY, July 10, 2014 /PRNewswire-iReach/ -- APMEX, Inc., one of the nation's largest online precious metals companies, is now an Authorized Purchaser with the United States Mint to purchase gold and platinum bullion coins directly from the United States Mint.
Previously, APMEX was an Authorized Purchaser of the United States Mint silver bullion coins and with this announcement joins a select list of only 10 Authorized Purchasers worldwide that may purchase gold, platinum and silver bullion coins directly from the United States Mint.
The United States Mint has a very specific approval process, with a set of demanding requirements to become Authorized Purchasers of United States Mint gold and platinum bullion coins. APMEX is in the company of esteemed businesses such as Deutsche Bank of Germany, Commerzbank International of Luxembourg, Prudential Securities, HSBC and a few other select companies.
"APMEX is honored to have been approved by the U.S. Mint to become one of only a few select companies that are authorized to purchase United States gold and platinum bullion coins," said Scott Thomas, Founder and President of APMEX. "We look forward to building our relationship with the U.S. Mint," Thomas concluded.
To be approved as an Authorized Purchaser of the United States Mint gold and platinum bullion coins, each company has to prove they can actively support a continuous two-way market in large volumes of gold and platinum bullion coins, regardless of whether the market is up or down, stable or volatile.
Qualifications to become an Authorized Purchaser of gold and platinum bullion coins from the United States Mint include:
- A minimum purchase amount on each order of 1,000 ounces of gold coins (approx. $1.3 million at current market value)
- Considered by the United States Mint as one of the most well-established, industry-recognized, and sufficiently capitalized precious metal wholesalers/market-makers to aid in the primary distribution of its gold and/or platinum bullion coin products
- Additional certifications that attest to the applying firm's involvement in and knowledge of the gold and platinum markets
- Minimum tangible net worth of at least $25 million for three consecutive years
- Other reviews and verifications as appropriate to substantiate the creditworthiness and qualifications of any firm applying
About APMEX, Inc.
APMEX, Inc., one of the largest online sellers of Gold, Silver and other Precious Metals products, offers one of the world's largest selections, including all U.S. Mint bullion such as Gold, Silver and Platinum American Eagle coins. APMEX also sells all types of Royal Canadian Mint products, including Gold, Silver, Platinum and Palladium Maple Leaf coins, as well as South African Gold Krugerrand coins. APMEX is a member of the American Numismatic Association, the International Precious Metals Institute and the Industry Council for Tangible Assets. For additional information, visit www.APMEX.com or call (800) 375-9006.
Media Contact: Teresa Burris, APMEX, Inc., 405-595-2112, Teresa.Burris@APMEX.com
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SOURCE APMEX, Inc.