AJPM aka Affordable Jewelry and Precious Metals is a bullion dealer based in Portland, Oregon. The company has three locations in Portland and the surrounding area. They offer gold, silver and platinum products to consumers. However, they have received mixed reviews from consumers and don’t offer palladium products to investors. Furthermore, they haven’t partnered with any IRA custodians or storage providers.
Also, AJPM deals in precious metals loans. They give out loans to customers in exchange for specific precious metals. The minimum duration for these loans is 60 days. The following review will give you a more detailed overview of the company:
People Behind AJPM
AJPM was founded in 1991 by a couple. Rodney Scott and Vicki Scott launched the company with one location and it eventually grew to 3 storefronts, each with a different management team.
The website states that Rodney, Vicki, Brandon, Justin and Charles handle the Downtown location while Mike handles the AJPM3 location. Similarly, Will, Anna and Mark handle AJPM Beaverton.
Can You Start a Precious Metals IRA with AJPM?
While AJPM does offer many IRA-approved bullion products, it has not partnered with any IRA custodians or storage providers.
Hence, the company doesn’t offer precious metals IRAs to customers.
The IRS rules state that in order to set up a precious metals IRA, you must have a third-party custodian. A custodian ensures that your IRA complies with all the relevant rules and regulations.
The lack of a custodial partnership is a clear indication that AJPM doesn’t offer any precious metals IRAs to customers.
The product selection of AJPM is quite impressive. Whether you’re looking for retirement savings or collecting rare coins, you will find an ample variety of gold, silver and platinum bullion here.
At AJPM, you will find a large selection of popular IRA-eligible gold products. These include:
American Gold Eagle
Canadian Gold Maple Leaf
American Gold Buffalo
Austrian Gold Philharmonic
You can also find gold bars of various sizes in their selection. Some coins are available in multiple sizes as well such as American Gold Eagles.
Their selection has several non-IRA gold products too so be cautious when purchasing precious metals here. Some of the non-IRA gold products include Gold Krugerrands, Australian Gold Kangaroo and British Sovereigns.
AJPM’s selection of silver products is rather limited in comparison to its gold collection. Some of the IRA-eligible products you will find here are:
American Silver Eagles
Canadian Silver Maple Leaf
Austrian Silver Philharmonic
Similarly, you can find non-IRA silver coins and bars in their selection including Silver Krugerrand, 1 oz Silver Rounds, Silver Kangaroo and more.
At AJPM, you will find several IRA-eligible platinum products to invest in:
Canadian Platinum Maple Leaf
American Platinum Eagle
Unfortunately, the company doesn’t have any palladium products available in its catalog which can be a disappointment for many investors. Both platinum and palladium have become increasingly popular among precious metals investors as they help you diversify your portfolio.
However, be extremely cautious when purchasing precious metals here if you’re looking to expand your precious metals IRA. Adding non-IRA products to your gold IRA can result in severe penalties.
AJPM Fees and Cost:
Whether you’re interested in buying AJPM gold or AJPM silver, you will find the prices clearly listed on their website.
The company shares both, their purchasing price and selling price alongside each product listed on the site. So, you would know how much it would cost to buy/sell here.
However, because the company doesn’t offer precious metals IRAs or storage, there is no concern about fees.
You only need to focus on the pricing of the products available on this bullion dealer’s website.
Additional Highlights of AJPM
Apart from having over 30 years of industry experience, there are several things that make AJPM stand out from other precious metals dealers. Here’s a quick overview of those qualities:
Gold Scrap Calculator:
AJPM buys scrap gold from consumers and at the time of writing this review, they offer 97.5% on melt lots.
They purchase various kinds of scrap gold and the offered price depends on the type of gold you are selling.
Some of the available types are:
Their website features a scrap gold calculator which will give you an estimated quote instantly. It’s a great feature and if you’re a scrap gold, it can be quite helpful.
Precious Metals Loans:
At AJPM, you can get precious metals loans as well. The company has a set list of products on which it offers loans.
Loans have a minimum duration of 60 days and some of the products they give loans on are:
Canadian Gold Maple Leaf
American Gold Eagle
British Gold Sovereigns
Russian Palladium Ballerina
Chinese Palladium Panda
Gold European 20 Francs
And plenty more.
They have shared their loan calculation formula on the website as well.
Even though AJPM has been in business since 1991, there aren’t many online reviews on the company. I found 19 AJPM reviews on Sitejabber which give it an overall rating of 3.5 out of 5 stars.
Similarly, they have received 19 reviews on Yelp, where they enjoy an impressive rating of 4.5 out of 5 stars.
BBB has given them an A+ rating but their customer rating is 1 out of 5 stars based on 1 review.
However, it’s worth pointing out that the company hasn’t received any complaints on the consumer platform.
Is AJPM Legit?
Over 30 years of industry experience
An impressive collection of IRA-eligible products
No IRA custodian
No palladium products
Yes, AJPM is a legitimate bullion dealer. The company has been in business since 1991 and has expanded from having one storefront to three.
They have an impressive collection of gold, silver and platinum products for both IRA investors and non-IRA collectors.
The company enjoys an A + rating on Better Business Bureau and offers precious metals loans to interested consumers in Portland. They offer precious metals loans to consumers for specific gold, platinum and palladium products. Also, they purchase scrap gold from consumers of various kinds including dental gold, 10k gold, 14k gold and more.
However, AJPM doesn’t offer palladium products to clients. Furthermore, it hasn’t received many reviews online and the ones it has, are mixed.
Due to these reasons, it’s very difficult for me to recommend this company.
Opening a precious metals IRA is one of the best ways to preserve your wealth, especially against inflation and economic downturn.
However, the IRA provider you choose has a huge impact on your returns. That’s why I recommend checking out multiple precious metals IRA providers before choosing one.