Disclaimer: Bluehillresearch.com is a reader-supported site. We may earn a commission if you click on links and make a purchase.
Last Updated on December 2, 2023
As precious metals gain traction as investments for collectors and individuals seeking to diversify their retirement portfolios, the prominence of gold dealers is on the rise.
The market is now saturated with numerous companies for those wishing to buy or sell gold, silver, or other precious metals.
A heavyweight in the American gold dealing sector is JM Bullion.
This evaluation delves into the ins and outs of JM Bullion as a company, the services they offer, and collates customer reviews to provide you with a comprehensive understanding of what to anticipate before parting with your hard-earned cash.
What is JM Bullion?
Established in 2011, JM Bullion has risen to become one of the top online enterprises in the US. Their main office is located in Dallas, Texas, while their warehouse resides in Las Vegas.
The company functions solely as an online retailer, conducting transactions via their website.
However, phone consultations with an advisor are possible when necessary.
Though JM Bullion’s range of services may not be as extensive as some of its competitors, it excels in its chosen areas of operation.
The company primarily aids clients in purchasing silver and gold in various forms, emphasizing a straightforward process, competitive pricing, rapid shipping, and exceptional customer support.
Individuals interested in investing in a precious metals IRA can also obtain additional information through a JM Bullion advisor, who can assist in transferring their purchased gold into the account of their choice.
The company is BBB-accredited and is widely recognized as one of the foremost providers of precious metal investments in the US.
JM Bullion Pros and Cons
Before delving into customer experiences and comparisons with other websites, here’s a brief rundown of the pros and cons.
- Real-time price updates
- No commission or service fees
- Military discounts available
- Innovative DIY buy-back tool on the website
- Solid reputation
- Positive customer feedback overall
- No clear storage options (recent partnership established, but details remain vague)
- Not an official US Mint dealer
- Limited purchase options (many items out of stock)
- Customer support unavailable on weekends
- Only ships within the USA
In essence, JM Bullion is highly recommended for those looking to acquire precious metals swiftly, conveniently, and at competitive prices.
However, it may not be the top choice for collectors or individuals seeking specialty assets due to its relatively limited product inventory.
What Services Does JM Bullion Offer?
Now let’s examine the services available on the JM Bullion website more closely. The website’s layout is clean and easy to navigate, providing a pleasant browsing experience.
The available services include:
Purchasing Gold and Other Precious Metals
JM Bullion’s primary focus is on retailing precious metals, which constitutes the majority of its business. Buyers can view live market pricing updates prominently displayed at the top of the website for a clear idea of the expected costs.
Assets available for purchase at JM Bullion include:
- Gold, Silver & Platinum Bullion
- Gold Coins
- Silver Coins
- Silver Rounds
Selling Gold and Silver Bullion
Customers can also sell their precious metals to JM Bullion.
Although most leading gold and silver e-commerce sites offer similar services, JM Bullion’s approach differs slightly.
Customers can lock in a price guarantee for their gold or silver, confirm the sale, send the shipment, and receive payment without requiring an advisor’s assistance.
JM Bullion, in partnership with Collateral Finance Corporation (CFC), provides loans leveraged against clients’ gold.
This offers a quick and easy way to access liquid cash without actually selling any silver.
As long as the loan is repaid as agreed upon, clients retain ownership and control over their precious metals.
Overall, the feedback for this company is highly positive, although there are some mixed ratings on well-known trust review platforms.
The company is relatively young in comparison to its competitors, and its reputation is still in the making.
Regarding the Products
A majority of negative reviews for JM Bullion concern the unavailability of products. Despite the website showcasing a wide variety of silver coins and other precious metals, they are frequently out of stock.
Common items are usually not an issue, but many collectibles, especially silver rounds, are scarcely available.
Numerous customers express frustration about attempting to buy a listed product, only to learn that the order cannot be completed.
Prices are quite competitive when compared to other suppliers. We appreciate the ability to see real-time market prices, ensuring you know what to anticipate.
JM Bullion doesn’t charge additional service fees on orders and regularly offers promotions and discounts.
One policy that draws some criticism is the company’s approach to market loss fees. Due to price fluctuations, your purchase’s value could increase or decrease from the initially agreed-upon price.
Market loss policies are applicable only if you cancel an order or fail to pay for it. JM Bullion is among the few companies that don’t charge cancellation fees.
However, they do require payment of the price difference if the value drops between order placement and cancellation. By doing so, the company breaks even on canceled orders without making a profit.
While some reviews claim this policy is unfair, it’s more lenient than most cancellation policies in the industry.
You can track your shipment once it’s dispatched. Delivery-related reviews are predominantly positive, with high ratings overall.
A frequently mentioned positive aspect is the excellent packaging, which reduces the likelihood of damage.
JM Bullion’s customer service receives mixed reviews. On one hand, customers seem satisfied with the support they receive, from purchasing to addressing concerns.
However, no support is available over weekends. Operating hours follow Dallas time, from 8 am to 6 pm, Monday to Friday.
We Contacted JM Bullion Customer Support… Our experience with the support team was outstanding. We encountered minimal wait times, and the representatives were professional, knowledgeable, and courteous. They clearly and concisely explained options without being pushy. We were thoroughly impressed.
On weekends, contacting anyone is challenging due to limited business hours. Any issues encountered on Saturdays or Sundays could cause significant inconvenience.
JM Bullion vs the Competition
Shipping and handling with this company receive higher praise than most competitors. Pricing is highly competitive, with fees among the lowest in the precious metals industry.
First-time buyers appreciate JM Bullion’s simplicity.
Collateral loan options set them apart, as most companies don’t offer this feature. The automatic buy-back tool is exclusive to JM Bullion and popular among clients.
Larger companies provide 24/7 support, while JM Bullion only operates during standard business hours. Fewer years in business compared to leading providers result in fewer industry connections that could benefit clients.
Buyers, be cautious! In-stock products are more limited than competitors’.
JM Bullion ships only within the US, while most companies offer international options. Seasoned investors prefer the variety available on other platforms.
Should You Consider a Precious Metals IRA for Retirement?
A Precious Metals IRA (Individual Retirement Account) is a self-directed IRA that allows investors to hold physical precious metals such as gold, silver, platinum, and palladium in their retirement portfolio. There are several reasons to consider a Precious Metals IRA for retirement:
- Diversification: Investing in precious metals can help diversify your retirement portfolio, reducing risk and increasing the potential for growth. Precious metals often have a low correlation with traditional assets such as stocks and bonds, so they can provide a hedge against market volatility.
- Inflation hedge: Precious metals, especially gold, have historically been seen as a hedge against inflation. As the cost of goods and services rise, the value of precious metals tends to increase, helping to preserve the purchasing power of your retirement savings.
- Portfolio protection: In times of economic uncertainty, precious metals can act as a safe haven for investors. They have intrinsic value and are not subject to the same risks as paper-based assets, making them a more stable investment during market downturns.
- Long-term value: Precious metals have been used as a store of value for thousands of years. Their limited supply and consistent demand make them a reliable long-term investment.
- Tax advantages: A Precious Metals IRA offers the same tax benefits as a traditional IRA. Contributions may be tax-deductible, and investment gains can grow tax-deferred until you begin taking distributions during retirement.
- Control and flexibility: A self-directed Precious Metals IRA allows you to choose the specific precious metals you want to invest in, offering more control over your investment decisions. This flexibility enables you to adjust your portfolio as needed to meet your financial goals.
- Tangible assets: Unlike stocks and bonds, precious metals are tangible assets that you can physically hold and store. This can provide a sense of security for some investors, knowing their investments are not just numbers on a screen.
- Global demand: Precious metals have a strong global demand due to their various applications in industries such as electronics, automotive, jewelry, and more. This constant demand can help support their long-term value.
It’s important to note that investing in a Precious Metals IRA may not be suitable for everyone, and there are additional fees and storage requirements involved.
Consult with a financial advisor to determine if a Precious Metals IRA is right for your retirement strategy.
Is JM Bullion a Legit?
Yes, JM Bullion is a reliable, trustworthy, and legitimate company. Information about the company’s history and team is readily accessible for anyone interested.
The numerous positive JM Bullion reviews further attest to its legitimacy. The company also boasts a high rating from the BBB.
JM Bullion Review: Final Verdict
For those considering investing in precious metals in 2021, JM Bullion is a solid option. The company effectively maintains high quality and service while keeping costs and confusion low. From silver rounds to gold bars, JM Bullion has got you covered.
In summary, if you’re seeking a seamless buying process with friendly advisors, a straightforward product selection, and competitive rates, you’ll be well-served by JM Bullion.
However, those interested in rare collectibles and specialty items may not find what they’re looking for here.
If the reviews are accurate—which, based on our investigation, we believe they are—JM Bullion is among the most user-friendly platforms for buying and selling precious metals.
After a decade in business as of 2023, JM Bullion has earned its place alongside other major players in the precious metals market.
- What is Their BBB Rating/Accreditation Status?
JM Bullion has been BBB-accredited since 2014. With minimal complaints and abundant positive feedback, most trust websites view the company favorably. The current BBB rating for the business is A+.
- Payment Options
JM Bullion accepts various payment methods in 2023:
- Credit or debit card
- Bank wire transfer
- Paper check
It’s worth noting that the company offers a 4% discount for payments via bank wire, eCheck, or paper check and a 3% discount for Bitcoin payments. There are no discounts for card payments or PayPal.
- What Are the Maximum/Minimum Purchase Requirements?
Purchase restrictions depend on your selected payment method. There’s no minimum purchase amount, except for bank wire transfers (minimum $1000).
Credit cards, debit cards, and PayPal allow payments up to $25,000, checks up to $75,000, and bank wires or cryptocurrency up to $250,000. For amounts exceeding these limits, you must consult directly with a representative.
- What is JM Bullion’s Insurance Policy on Deliveries?
All shipments are insured. Orders are trackable and require the recipient’s signature for items worth over $1,000. If a shipped item arrives damaged or fails to arrive, you must contact the company immediately.
Insurance only covers delivery; if you notice any issues upon delivery, the company advises refusing to sign or accept the package. It will be returned, and your refund will be processed. If you accept the goods and later discover damage, you have 48 hours to contact JM Bullion to initiate an insurance claim. Missing the deadline makes you responsible for any further costs.
- Where is JM Bullion Located?
JM Bullion is an online business without physical retail locations. The corporate offices are in Texas, while the warehouse is in Las Vegas. All purchased products originate from this location, and anything sold to the company is shipped there as well.
The business operates exclusively in the USA and caters entirely to domestic clients. If you’re based outside the USA, JM Bullion is not suitable for you.