JM Bullion is an extensively sought-after website for purchasing gold, silver, and other kinds of valuable metals. But is it legit?
It is vital to obtain gold from a reliable source if you are looking to invest.
You want to make sure the gold you have is authentic and stored in a safe place.
So how does JM Bullion measure up? And is it a reputable dealer?
In this article, we look at JM Bullion in comparison to other well-known gold vendors. Find out what you can expect when it comes to fees, customer support, and features.
WHAT IS JM BULLION?
JM Bullion is an internet-based business that specializes in the sale of gold, created in 2011. They provide a wide variety of gold coins and bars from different countries all over the world, including the United States, South Africa, Mexico, and beyond. They provide other valuable metals like silver and platinum.
The cost of products at JM Bullion is clearly visible and comparatively corresponds with the rates of other retailers. You can also discover occasional bargains on their Deals page. They do not ask for any payment when using their services, and the website is simple and straightforward to explore.
JM Bullion provides extra advantages in addition to their support for precious metals, such as IRA-allowed gold.
For self-controlled IRAs, a programmed savings mechanism, items of worth, and offerings for exchanging your gold and silver.
PROS AND CONS OF JM BULLION
If you only have a short amount of time, here’s a summary of the advantages and disadvantages of JM Bullion.
- No commissions
- Sales team is low pressure
- A+ BBB Rating
- 5-Time Inc. 500 Ranking
- High buyback guarantee
- Discounts for military members
- High-quality security partnerships
- Bitcoin payments accepted
- Precious metals prices are updated in real-time on their website
- No numismatic coins
- No foreign currency
- Customer support is only available on weekdays
- Not an official US Mint Dealer
JM Bullion Features and Services
What products does JM Bullion have for purchase and what kind of assistance do they provide? Let’s take a deeper look.
1. BUY GOLD, SILVER, AND MORE
JM Bullion boasts a wide variety of precious metals, offering a large selection of products.
Gold Their gold offerings include:
- American coins, such as Gold Eagles, Gold Buffalos, and pre-1933 coins
- South African Krugerrands
- Mexican gold coins
- Canadian gold coins, such as Gold Maple Leafs and commemorative gold from the Royal Canadian Mint
- British coins, including Gold Britannias and British Gold Sovereigns
- Chinese Gold Pandas
- Australian Gold Philharmonics
- European Gold Sovereigns
- Collectible coins from Disney and around the world
For those who want to own gold in bar form, they can easily find it in a variety of sizes, starting at one gram in weight and rising all the way up to 10 ounces. Furthermore, the bar selection is vast, with options from different nations and mints.
Their variety of silver items is wide, featuring coins, bars, rounds, sculptures, and even silver bullets (though they can’t be used in actual guns).
The metal silver is sourced from nations like the United States, Mexico, Canada, United Kingdom, South Africa, China, South Korea, Australia, and New Zealand.
They also have available coins with designs inspired by megahit movies and TV series such as Star Wars, Harry Potter, The Simpsons, Star Trek, and Marvel.
Platinum, Copper, and Palladium are only offered in the form of bars and a few coins such as the American Eagles and Canadian Maple Leafs.
Customers at JM Bullion’s website can purchase copper and palladium in addition to being able to acquire associated items such as collector’s containers and protective cases.
2. SELL YOUR GOLD AND SILVER
If you possess gold and silver bullion, you can take advantage of JM Bullion’s convenient buyback tool, which allows you to quickly sell it back without having to deal with a difficult salesperson by phone.
The useful service is active all day, every day, so you can purchase your goods when the price is right.
You can still sell products via telephone if you would like to do so. They provide the possibility of phone purchases as well as the option of trading in products through email.
The minimum purchase amount for this service is $1,000.
Here’s how the buy-back service works:
- Just lock in a price through whichever of their easy methods works best for you.
- Follow their mailing instructions and ship your gold and silver to JM Bullion.
- Once their inventory team has inspected and approved your package, they’ll send payment to you directly.
They make it a breeze with UPS shipping labels; you take your package to a local UPS center, and once it is verified, you should get paid in 1-3 workdays.
3. PRECIOUS METALS IRA
Through the help of JM Bullion and a precious metals IRA, you can establish a self-directed individual retirement account and put your money into approved gold and other metals for your retirement.
Why would you do this? Because IRAs offer tax benefits that other investments don’t. It is possible to put money into an account without being taxed, or to delay the taxation until later, depending on the sort of account chosen.
JM Bullion’s recommended custodian is New Direction Trust Company. You can establish a Individual Retirement Account with them and afterward fill it with gold and other metals that are accepted for IRAs from JM Bullion. Choices for a Precious Metals IRA include gold, silver, platinum, and palladium.
They prefer to keep their items in the A-M Global Logistics warehouses in Las Vegas, Nevada.
WHERE DOES JM BULLION STORE THEIR GOLD?
JM Bullion has joined forces with Transcontinental Depository Services (TDS) Vaults to guarantee the secure storage of your valuables if you choose to not keep it on your own.
TDS has offices in Las Vegas, Toronto, Zurich, and Singapore.
You can safely store your valuable metals from JM Bullion if you create an account with TDS and choose one of their four stashing options.
TDS has double insurance for your peace of mind. The vault provides insurance for the metals kept there; additionally, an outside “all risk” insurance policy offers additional protection.
WHAT IS JM BULLION’S RETURN POLICY?
JM Bullion has a 5-day period for returns that do not specify if there is a charge for restocking.
Customers will have to cover any losses that the market incurs from a return, and the company will not buy back anything with a value of less than $1,000.
You can look up the values they offer for repurchasing items on the website.
You can use JM Bullion and the Collateral Finance Corporation to get a loan secured by your gold. It is a fast and simple method of obtaining money without having to actually part with any silver. As long as you fulfill the repayment agreement in regards to the loan, all the valuable metals that you own stay in your possession and managed by you.
JM Bullion has begun to offer loans as a part of their business and this field is growing, however, CFC is the top company in the industry. The company has a solid history of providing competitively low interest and competitively high loan-to-value ratios. Although they aren’t on the Better Business Bureau, there are many reviews and ratings from pleased customers located on other respected websites.
What Are Consumers Saying?
The majority of opinions for this organization are exceedingly positive, despite some contradictory ratings on well-known credibility evaluation websites. Although the organization is relatively young when compared to some of its rivals, it is in the process of establishing a name for itself.
About the Product
The majority of unfavorable feedback for JM Bullion is associated with the limited selection of merchandise that is available. Despite the fact that the website’s selection of silver coins and other valuable metals is impressive, they are frequently unavailable for shipment.
Ordinary goods rarely have problems, however, many collectible items specifically silver rounds are scarcely held in stores. A large amount of consumers have expressed dissatisfaction concerning attempting to buy an offered product but being told they cannot obtain it.
About the Prices
The costs of the services are lower than many other suppliers. You can appreciate being able to see current market rates, so you’re always aware of what is happening. JM Bullion doesn’t charge anything extra for any purchase and generally has deals and markdowns.
There have been grumblings from customers about the company’s rule with regards to market loss fees. The cost of your acquisition may either grow or diminish from the original amount you decided to pay due to changing prices.
Market loss policies are only applicable if an order is terminated prematurely or if payment for the order is not fulfilled. JM Bullion is one of only a handful of organizations that does not impose a penalty for cancelling an order. Nonetheless, they do necessitate that money be paid if the worth decreases in the interval between when the order is placed and when it is canceled. In this case, you are charged the price difference.
By carrying out this action, the firm has no gain from a cancelled order, but neither do they sustain a loss. There are some people who have expressed their dissatisfaction with this policy, but it is still very generous compared to the regulations of other businesses in the same field.
About the Delivery
When your items are dispatched, you can monitor the progress of your order throughout its journey. People have given the delivery process great reviews, and the ratings for it are very high. Most reviews are generally favorable due to the high quality of packaging, leading to a reduction of items that become damaged.
About the Customer Service
There are mixed reviews for JM Bullion’s customer service. People seem to express a lot of satisfaction with the service they receive from customer support, from their initial purchase to when they have a complaint. However, no support is available over the weekend. Dallas time is the basis for hours of work from Monday to Friday, running from 8:00 a.m. until 6:00 p.m.
We Contacted JM Bullion Customer Service…
Our experience when contacting the support team was excellent. We were only kept waiting for a short while and the representatives we had dealings with were respectful and informative, as well as being very friendly. While talking about a purchase, they were not insistent but were able to explain the choices distinctly and economically. Overall, we were very impressed.
It is challenging to reach anyone during the weekends since most companies tend to operate with limited hours. If you encounter any issues on a weekend, this can be extremely inconvenient.
JM Bullions VS Other Similar Businesses
- Post and packaging with this company get a far better review than most of the competition.
- Pricing is very competitive, and the fees are amongst the lowest of all precious metals providers.
- First-time buyers enjoy the simplicity of JM Bullion.
- Collateral loan possibilities are a standout feature that most companies do not offer.
- The automatic buy-back tool is something unique to JM Bullion- and is a big hit with clients.
- Bigger companies offer 24/7 support, whereas JM Bullion only works during standard business hours.
- Fewer years in business than other leading providers mean fewer industry contacts that can benefit clients.
- Buyer beware! In-stock products are far more sparse than competitors.
- JM Bullion only ships domestically within the US, but most companies have international options.
- Experienced investors prefer the variety on offer on other sites.
Is JM Bullion verified by the Better Business Bureau (BBB)?
Yes, it is. JM Bullion has had an A+ score and approval from the BBB since 2014. Very few people have had anything negative to say about this company, and there have been a lot of compliments from people who have used them; therefore, the majority of trust websites are very supportive of this business. The current BBB rating for the business is A+.
What payment options does JM Bullion accept?
In 2021, there are a variety of methods to finance purchases on the internet. JM Bullion accepts many of them:
- Credit or debit card
- Bank wire transfer
- Paper check
Notably, if you pay by bank wire, eCheck, or paper check the company offers a four percent reduction, whereas there is a three percent cut for payments with Bitcoin. There is no discount for card payments or PayPal.
Is JM Bullion a legitimate company?
There is no doubt that JM Bullion can be trusted and is reputable. Details on the past and journey of the group of people responsible for the foundation of the organization are available for anyone who desires to look into it. Additionally, the countless positive JM Bullion reviews speak volumes. The business is also highly rated by the BBB.
Are JM Bullion deliveries insured?
All shipped goods are insured. A tracking system is in place and each shipment needs to be signed off by the receiver if it has a value of $1,000 or more. It is imperative to call the company immediately if the product you received was harmed or if it didn’t come at all.
If there is anything wrong with the shipment upon delivery, it is recommended that you do not sign for or accept the package since the insurance only applies to the delivery process. It is then sent back and your refund processed. If you accept the items and then find out they are damaged, please get in touch with JM Bullion within 48 hours so they can file an insurance claim.
If you don’t make the deadline, then you will be responsible for any additional expenses. You can return the item, but it is probable that you will need to cover the cost.