In a surprising turn of events, APMEX, one of the most prominent and trusted names in the precious metals retail industry in the United States, has had a major investment by MKS PAMP Group, a European based company. This unexpected development has sent shockwaves through the industry, leaving investors, collectors, and industry insiders eager to learn more about the implications of this investment.
Details of the transaction, including the financial terms and conditions, have not been publicly disclosed, leaving room for speculation and anticipation. The announcement has led to a whirlwind of discussions within the precious metals community, with many wondering how this acquisition will impact the market, customer experience, and the future of these two industry giants.
It also comes in the midst of other massive mergers or acquisitions over the last few years, most notably the purchase of JM Bullion and a majority position in Sunshine Mint by Amark Precious Metals.
MKS PAMP Response
“This strategic investment in APMEX follows our vision in growing our global footprint of integrating our group throughout the precious metal value chain, embracing the digital shift in how our customers access and use precious metals today. said Marwan Shakarchi, Executive Member of the Board, MKS PAMP GROUP.
The APMEX Legacy
APMEX, short for American Precious Metals Exchange, has been a trusted name in the industry for over 20 years. Known for its vast selection of gold, silver, platinum, and palladium products, APMEX has been a go-to source for investors, collectors, and enthusiasts. The company’s reputation for transparency, quality, and customer satisfaction has earned it a loyal customer base over the years.
Scott Thomas, a native of Oklahoma and the founder and president of APMEX, has an intriguing story that began with a cherished inheritance. Upon the passing of his grandfather, Thomas inherited his coin collection, a collection he had helped cultivate during his formative years. As he delved into the treasure trove, he was astonished to discover that these coins held an estimated value of approximately $100,000. Inspired by this revelation, he decided to open a small storefront in Edmond, OK to sell them to the public.
Quickly realizing an opportunity to sell his coins to a wider audience via the burgeoning eBay platform, Thomas achieved “first mover” status on eBay and APMEX grew exponentially. This savvy move helped transform a modest operation into one of the world’s leading retailers of precious metals in a relatively short time span.
Recognizing the potential for growth, Thomas expanded his venture fully into the online realm, launching an e-commerce website in 2004. Originally named the American Precious Metals Exchange, the company underwent a name change in 2000, adopting the abbreviation APMEX.
Since then, Apmex has continued to take measured steps and leverage strong bullion markets in 2008 and 2020 to fuel its growth.
“The investment by MKS PAMP GROUP marks a pivotal milestone in APMEX’s journey, standing as a genuine testament to our company’s success. This strategic union heralds a lasting synergy, destined to elevate our services and product offerings globally for our valued customers.” added Scott Thomas, Founder of APMEX.
Implications for Customers and Investors
Customers and investors who have relied on APMEX for their precious metals needs are eager to learn how this acquisition will affect them.
Investors, in particular, are keeping a close eye on the situation, as it could potentially impact pricing and the availability of certain products.
Looking Ahead
APMEX has maintained a longstanding partnership with Scottsdale Mint, standing as one of our earliest and most influential collaborators in bringing the renowned Scottsdale Stacker collection to bullion investors on a global scale. Furthermore, their unwavering support played a pivotal role in the success of our monumental Biblical Series—a coin series of unprecedented proportions. We extend our sincere gratitude for their steadfast dedication and eagerly anticipate their continued contributions to the dynamic bullion industry.
Stay tuned for updates and insights as we closely follow this evolving story and its impact on the world of precious metals.
