Does APMEX Cherry Pick Buffalos?
 

I ordered two bullion Gold Buffalos from APMEX back on June 19th, well before the coins were even released by the Mint. I had determined to send them off to get graded as I believed that it would be worth the chance to possibly wind up with an MS 70, and even if I ended up with an MS69 it would probably be a good idea because with the coin being so soft the Grading Case would help protect the coin much better than the mints mylar sleeve.

When I ordered, APMEX was only selling ungraded Buffalos. Before my coin was shipped to me, I noticed that APMEX all of a sudden had graded MS69 coins so I called in to see if I could get my order changed over to buying the Graded Coin and send them the difference in price. They told me that would not be possible.

I didn't think any more about it until 4 days after APMEX said they would ship the coins and they still hadn't been shipped. I called in that very morning and confirmed that they hadn't been shipped, although they subsequently shipped them that same day.

I am just curious. IF APMEX had enough coins to send them off for grading, why weren't my coins shipped on time? Could it be that they were sending off all coins they thought worthy of MS69 or higher and sending the less spectacular coins to the "bullion" people?

Would APMEX be tempted to stoop to something like that? I hope not, and I really don't believe they would based on all the good opinions I have heard about them. Still however, I wonder.

I guess I will know for sure when I get my two coins back from NGC.

Re: Does APMEX Cherry Pick Buffalos?
 

As long as you're not receiving the items directly from the source, there is no guarantee they are not "searched", regardless of what anybody says. Not saying APMEX is doing this..

Re: Does APMEX Cherry Pick Buffalos?
 

Who said APMEX sends coins in to be graded? They might buy graded coins from a distributor along with the uncirculated ones.

Re: Does APMEX Cherry Pick Buffalos?
 

I bought three, raw, MS Buffalo's the minute APMEX offered them. NGC slabbed two @ 70 and one @ 69, if that helps?

Re: Does APMEX Cherry Pick Buffalos?
 

Thanks Sir S. That definately helps,

Re: Does APMEX Cherry Pick Buffalos?
 

I have talked to Scott from APMEX, who sometimes appears here when he has time - and my understanding from that conversation is that they get the coins already graded from a dealer........they do not send them in for grading themsleves.

Re: Does APMEX Cherry Pick Buffalos?
 

I am sufficiently humbled. I apologize to APMEX for even having the thought cross my mind (about 300 times) that they would take advantage of a customer. I know they are an upstanding company. There must be some other simple reason that they couldn't ship my coin when they said they would. Maybe the shipping guys just couldn't bear to let it go til they had to.:Sorry:

Re: Does APMEX Cherry Pick Buffalos?
 

I can not speak for APMEX, I am not connected to them, tho I have used and like their service - but hey, honestly, I think it was a fair question....I merely tried to give you the most honest and fair answer I could, cause I DID happen to inquire about this back before they had MS70s and if they expected to get any, thats how that came up.........and I have no idea why it took you so ong to get your coin, that would irk me too!

So - a fair question......and a fair answer, I hope!

Cheers!

Ho