With economic instability certainly on the rise, investing in precious metals becomes more and more necessary. When you typically look for an IRA investment opportunity, you do not think of online retailers.
Surprisingly that is exactly what JM Bullion is, and they can match the services and abilities of even physical investment companies.
Getting into business with any company is not a decision you should take lightly. You should also be cautious of the potential scams that can happen online.
This is one of the main reasons there is a lot of talk about JM Bullion and whether or not they are trustworthy. To shine a light on this situation, I decided to write this review article and see the truth.
I will be talking about the company itself and the variety of different products that it offers. I will also go over all of the services it provides. This will help you form an opinion of your own about whether you want to join JM Bullion or not.
But before we get started with JM Bullion review, here is something important that you should know!
I realize that choosing a company to invest your life saving is an integral decision. Because of this, I do my best to ensure the validity of information mentioned in my articles! I do all of this to guarantee you pick the best financial choices for them.
After carrying out through research and reviewing dozens of companies, I created a list of various gold companies and their reviews. It should help you in deciding the company most suitable for you and your needs.
You can check this list to see if JM Bullion is something I recommend!
Or you can get yourself a FREE Gold IRA Kit from the company I recommend the most below!
Table of Contents
- 1 A Quick Overview Of JM Bullion
- 2 The Services Provided By JM Bullion
- 3 JM Bullion Products
- 4 Pros And Cons Of JM Bullion
- 5 Customer Reactions
- 6 JM Bullion’s Ratings
- 7 JM Bullion Lawsuits
- 8 Fees In JM Bullion
- 9 Current Promotions By JM Bullion
- 10 What Makes JM Bullion Stand Out?
- 11 Why Should You Choose JM Bullion?
- 12 How Does The Buy Back Service Work With JM Bullion?
- 13 Frequently Asked Questions
- 14 Final Verdict
A Quick Overview Of JM Bullion
JM Bullion was launched way back in 2011. It had two founding members who started in Pennsylvania.
The company would become one of the largest precious metal retailers currently available. They started hitting the 100,000 sales day mark just 9 months after their initial launch.
In 2014, the company, despite being an online retailer, moved to Dallas, Texas. There, they would open their headquarters but keep operations mostly online. They would launch their line of products and become one of the top 500 online retailers in North America.
Within just over 3 years, the company had more than 100,000 customers. Soon it would be ranked number 1 on the Dallas 100 list. Within 5 years, the company was the 40th fastest-growing private company in the United States.
By 2019, the company was 96th in the top 500 online businesses list. It had sold over 2 million orders across 2,000 unique products and $3 billion in sales. A-Mark Precious Metals would soon acquire it.
JM Bullion’s Mission
JM Bullion has always wanted its customers to purchase bullion that they can physically interact with rather than just own on a piece of paper. They aimed to be an industry price leader in online precious metals.
They set out to offer a wide selection of products to the people and ensure they get their packages promptly. Additionally, they set out to guarantee customer satisfaction by maintaining their security and delivering top notch customer service.
Are you interested in learning more about the company? You can talk to them yourself by using the contact information below. This will also allow you to contact customer service to inquire more about their products.
The Services Provided By JM Bullion
No matter what the company may accomplish, you must look at its services and see if they are a good fit for you. Now it is time that I talk about the services that JM Bullion offers to its customers:
Precious Metals IRA Investments
This should be no surprise to anyone. JM Bullion has a lot of precious metals to offer to its customers. These metals include:
These metals have various products you can purchase and open IRAs with. Not all products may come with IRA facilities. Additionally, all of the IRA metals meet strict quality standards. These standards vary for each metal but typically stand above 99.5% purity.
Safe And Well Priced Storage
With strict IRA storage requirements, JM Bullion can maintain all the standards needed to store your precious metals. Moreover, it offers various storage options that are low in cost and keep your metals safe.
Buy Back Facilities And Return Policy
If you are unsatisfied with your purchase, you can return your product to JM Bullion within five days. For replacements, you will only have 2 days. You can opt to sell them the product back. All of this has little to no fees attached to it.
JM Bullion Products
A good way to gauge a company for investment is to see the lineup of products they have that you can purchase. Now that you have a good idea about the services you can expect from the company, you should get an idea about their products.
JM Bullion offers a variety of gold products, mostly coins. I will mention generalized groups of coins to show you just how much variety they have.
Each category will then have further coins for you to choose from. There are also various other products in this list aside from coins:
- Gold Notes
- Gold Bars
- Gold Jewelry
- Themed Gifts
- American Gold Coins: Gold Eagles & Gold Buffalos
- Canadian Gold Coins: Gold Maple Leads & Royal Canadian Mint
- British Gold Coins: Gold Britannias & British Gold Sovereigns
- Australian Gold Coins
- Chinese Gold Pandas
- Lunar Year Series
Similar to their gold selection, JM Bullion also offers a variety of silver products. I will mention all of them in the same fashion I did for the gold products. Again, this list will include all sorts of coins and products:
- Silver Statues
- Silver Bullets
- JM Bullion Branded Silver
- Silver Bars
- American Silver Eagles
- Canadian Silver Coins
- British Silver Coins
- Australian Silver Coins
- Themed Gifts
- Medieval Legends & Egyptian Gods Series
Aside from gold and silver, JM Bullion has also listed various other products on their website. These products span from platinum coins to copper, palladium, and other accessories. These products include:
- Platinum Bars
- Platinum Coins
- Copper Bars
- Copper Coins
- Copper Rounds
- Palladium Bars
- Palladium Coins
- Coin Accessories
- Bar Accessories
- Other Apparel
Pros And Cons Of JM Bullion
There can be a lot of factors that can make you think about which company is best for you. The main thing that most people look into is how much they can benefit from the company. They also want to avoid as many losses and disadvantages as possible.
For this reason, I will be checking out the pros and cons of JM Bullion. This will help you get a good idea of what you can experience when you work with them.
- JM Bullion charges no commissions at all.
- They also do not have any service charges.
- Their sales team is very low-pressure and extremely helpful.
- JM Bullion boasts high ratings and a good reputation.
- They feature very high buyback guarantees.
- JM Bullion offers discounts for military members.
- JM Bullion features security partnerships of the highest quality.
- This company also accepts payments in the form of Bitcoin.
- Prices of precious metals are updated in real-time and are visible on their website.
- They have great customer ratings and customer service.
- JM Bullion only ships inside the United States.
- Their customer service is not available on the weekends.
- The company offers limited items for purchase due to having a generally low stock.
- They do not accept any form of foreign currency.
- They are not listed as an official United States mint dealer.
Being a potential customer, you will want to hear just how well JM Bullion treated other customers. In this section, I will be discussing the customer feedback of JM Bullion and give you a few customer reactions in the process.
For the most part, customer feedback seems to be high. I will show both good and bad feedback the company has received:
4 /5 stars on Trustpilot
Bart says that the items he received were excellent in quality. He also elaborates that the packaging was superb. The package he received was shipped on time. He did not give a full 5-star rating because JM Bullion does not ship to Guam.
Although Guam is a United States territory, it does not get shipping. Bart had to ship the package to his family in Hawaii. He urges the company to allow shipping in all United States territories.
1 /5 stars on Trustpilot
George has stated to use JM Bullion multiple times, but despite this, it gets only 1 star. This is because his order was never delivered, and his claim was denied. This was all despite him paying for the order but never receiving it.
He also complains about how JM Bullion will increase their silver fee when prices drop. This ends up decreasing the cost you save. He believes that JM Bullion does not respect you as a paying customer and that you should look for other businesses.
1 /5 stars on Shopper Approved
The first experience Michael had with this company was horrible. Despite him being a veteran, they canceled his first order. This was done despite JM Bullion taking all his money and ID cards.
His ability to purchase anything further was also limited. He further states that his only reason for going with JM Bullion was due to the veteran’s discount. Due to his experience, it is doubtful he will reach out to JM Bullion again.
I have listed above 2 bad and 1 good comment about JM Bullion. While this may make it seem as JM Bullion is not a credible source for investment, but that is not the case. In this next section, I will discuss their overall credit scores and ratings.
JM Bullion’s Ratings
- JM Bullion features a solid 4.8 /5 on Shopper Approved. This has been done with over 342,168 verified customers, of which 296,000+ gave them 5 stars. Just over 9,000 of them would rate them 3 stars or below.
- With over 1,000 entries on Trustpilot, JM Bullion retains a 4.5 /5 star rating. 78% of the entries give it 5 stars, while a drastic 14% give it a 1 star score.
- Consumer Affairs paints JM Bullion in a different light, with more 1-star ratings than 5 star ones. The entry pool is low at only 42 individual entries.
- The Better Business Bureau (BBB) gives JM Bullion a solid A+ rating.
JM Bullion Lawsuits
JM Bullion is famous for promoting the idea of owning tangible assets instead of just paper assets. Since its beginning, JM Bullion has been a market leader in setting prices within the industry.
The company tries its best to surpass expectations. It does so by serving as a focal point for individuals navigating the industry. This can be very hard to see. Especially if you consider the different lawsuits the company has had to deal with.
JM Bullion’s Legal Issues & Lawsuits
There are two main lawsuits that the company has had to deal with, with only one of them being noteworthy. This section will be talking about both of them, starting with the important one first.
1. Suk Case:
In this legal development, the plaintiff cites a breach of contract lawsuit. The plaintiff was Samuel Suk, who was representing Acker & Associates. This lawsuit alleges that a malicious third party took a shipment of gold bars worth over $73,000.
According to the complaint, Suk acts on behalf of his mother. He placed an order for six ten-ounce gold bars and paid almost $73k. The order was then accompanied by Suk accepting the terms and conditions. These were outlined on the website, and he provided his shipping address.
The order was accepted and shipped on the same day. For this, they utilized the United States Postal Service (USPS). Before the packages were delivered, a third party took possession of the packages.
Upon discovering this, Suk contacted USPS and the Hillsboro Police. He also went on to file a claim with JM Bullion on his mother’s behalf. The claim process involved submitting a declaration of theft.
The terms of JM Bullion indicated that the company fully insures all shipments. It also did so, covering packages during transit. Despite all of these efforts, Suk’s mother never recovered the purchased gold bars. On top of this, JM Bullion refused reimbursement for the sale price.
As a result of all this, Suk, on behalf of his mother, filed a claim for arbitration. The court found the one-year contractual limitations period in the company’s terms to be void.
Instead, the court applied the four-year statute of limitations. This would be under the Texas Business and Commerce Code. This aided in deeming Suk’s claim timely. As a result, the company was forced to pay for the stolen goods, and the case was dismissed afterward.
2. BELL Case:
In another instance, another lawsuit was slapped on the company. Details on the lawsuit are vague. However, nothing really became of this lawsuit. This is because a motion to dismiss the case against JM Bullion was granted, leading to its closure.
The dismissal was with prejudice. This indicated a final decision on the matter. The court ordered the case to be closed as it pertained to JM Bullion. This means that the case raised did not have any grounds and was just raised to go against the company.
Fees In JM Bullion
When it comes to JM Bullion, you only have to pay the money for the product, a small opening fee, and an administration fee. These fees will vary based on the metals you buy and how much of the metal you plan to buy.
There is a $130 fee per year on accounts worth less than $100,000 and $180 on accounts more than $100,000.
The opening fee is only $30 online and $75 on paper. You may also have to pay additional smaller fees as well. Shipping is free on orders above $200 but will cost $8 otherwise.
Current Promotions By JM Bullion
JM Bullion will keep you in the loop for exclusive sales and promotions if you join their website. On top of this, they also offer daily sales, which you should take advantage of.
Furthermore, JM Bullion also offers a starter pack with a 10 oz tube of silver that you will get within one business day. This will be delivered to you in a custom velvet pouch.
What Makes JM Bullion Stand Out?
When dealing with all these companies, you should aim for the one that offers you the most. This is very confusing as these companies typically have the same offerings. Here is how JM Bullion can stand out from the rest of the market:
1. No Commissions Or Hidden Fees
Various silver and gold dealers make it so that there are commission fees on top of hidden fees. This can have a huge impact on your return. Luckily, this is not the case with JM Bullion.
2. Good Variety Of IRA Metals
Generally, most companies stick to gold and silver, with some opting to add platinum. JM Bullion has all of these and more with the addition of copper and palladium. This increases product variety and also helps diversify your assets and investment portfolio.
3. Transparent And Competitive Prices
Some metal dealers hide their prices and reveal them to interested parties. JM Bullion makes it much easier for customers to purchase with transparent prices on all their products. These prices are also very competitive with the current market.
Why Should You Choose JM Bullion?
- Firstly, the main reason you should choose JM Bullion is that you get to own the products you purchase. The gold or silver that you get is delivered directly to your doorstep.
- The products that they sell are high quality. This has remained one of their highest priorities. They work closely with their distributors and mints to ensure this quality and the state in which customers receive the products.
- JM Bullion also prioritizes customer service. While they may not be available on the weekends, they are just a click away on the weekdays. They will fill you in on the happenings of your order no matter what stage it is in. All the questions and queries are tackled in a timely fashion.
How Does The Buy Back Service Work With JM Bullion?
If you have purchased a minimum of $1,000, you will have the facility to go through a buy-back service. The way this works is, first, you will have to lock in the price of your items. You can do so however way you want.
Here you should prioritize your convenience. You will then be sent an instruction in your mail, then ship your products back to JM Bullion.
Once the products are received, they go through a rigorous inspection process. This will approve your package, and your payment will be sent to you directly.
Frequently Asked Questions
Q1: Do JM Bullion IRA Plans Give You Physical Metals Or Certificates?
As stated multiple times in this article, JM Bullion has always dealt with giving physical metals.
All their products, whether gold, silver, or copper, are delivered directly to your doorstep. They also offer storage services from which you can take out your metals at any time.
Q2: Is JM Bullion A Bad Company?
A few bad impressions do not make a company bad. While there may be an influx of issues and mistakes here and there with JM Bullion, the company is still pretty reliable.
They have a high position in various retailing lists and good overall ratings. This should be enough to prove that the company is not bad.
Q3: What Should You Do If Your Order Is Damaged In Transit?
While this is not likely if this does happen, you will have to contact JM Bullion immediately. You must inform them about the issue and start the claims process there. You will have two days to initiate this process, as stated in JM Bullion’s terms and conditions.
Q4: How Quickly Does JM Bullion Pay Buybacks?
Upon receiving your product, the people at JM Bullion start to verify the product. Once the verification is done, you will receive your money, it will be issued within 1 to 3 business days. You can also opt to receive a check, but it will take at least 1 to 2 weeks.
Q5: How Quick Is The Verification Process When It Comes To Buybacks?
The people at JM Bullion are committed to ensuring their products’ verification. To that end, they will start verification on the day they receive their product.
Depending on their schedule and amount of business, it can take at least 1 to 2 business days for the entire process to wrap up.
Despite all its faults, issues, and some negative remarks, JM Bullion is still a top-tier company that deserves your service. There is room for improvement regarding certain aspects of the company.
Nonetheless, it is a great choice when you need to see transparent product prices and get them as quickly as possible. With this JM Bullion review coming to a close, you should be able to decide whether or not the company deserves your participation.
Having a lot of variety in their products, you are sure to find a metal that will catch your eye or make a good gift.
Invest with the right company by reading my article, which lists the best companies of this year. Alternatively, you can also request a Gold IRA Kit for absolutely free!
Or if you want to check out the company I just reviewed here, you can visit their website by clicking the button below:
Martin Thomas, the owner of Quadra FNX Mining, is a true gold investment aficionado. With decades of experience and a wealth of knowledge, he is the go-to source for anyone navigating the vast world of precious metals. Martin has dedicated decades of his life to understanding the intricacies of the precious metals market and the best strategies for maximizing returns. His expertise in this field is unmatched, and his commitment to helping others make informed investment decisions is unwavering. With him as your guide, you’ll gain a deeper understanding of the gold market and learn how to make smart investment choices that will benefit you for years. With his guidance and wisdom, you will never have to worry about taking the wrong investment step again. Learn more about Martin.