As precious metals become a more popular investment for collectors and people looking to diversify their retirement funds, gold dealers are becoming more prominent. There are now countless companies to choose from if you are looking to purchase or sell gold, silver, or another type of precious metal.
One of the biggest names in US gold dealing is JM Bullion. In this review, we discuss everything you need to know about JM Bullion as a company, what services are provided, and gather feedback from customer reviews to help you know exactly what to expect before spending your hard-earned money.
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A Brief Overview
JM Bullion launched in 2011 and is now one of the top-rated online companies in the USA. The corporate headquarters are in Dallas, Texas, and the warehouse is in Las Vegas. All transactions run through the website as the company works exclusively as an online retailer, although it is possible to speak to an advisor over the phone should the need arise.
Overall, JM Bullion does not offer as varied service as some of its rival gold dealers. However, it excels in the areas it does operate in. Primarily, the company helps consumers purchase silver and gold in various forms, promoting a simple process, competitive fees, fast shipment, and excellent customer service.
People looking to invest their money into opening a precious metals IRA can also find more information through a JM Bullion advisor, who can help them forward their purchased gold into the account of their choice.
The business is BBB accredited and is widely considered one of the leading providers for precious metal investments in the US.
Pros and Cons of JM Bullion
Before we go into more detail about what customers have to say and how JM Bullion compares to other sites, here is a quick overview of the pros and cons.
- Up to date current prices
- No commissions or service charges
- Military discounts available
- Unique DIY buy-back tool on the website
- Good reputation
- Great customer feedback about service overall
- No storage options (recent partnership launched, but the information is unclear)
- Not a listed US Mint dealer
- Limited purchase options (lots of items not in stock)
- Customer service is not readily available on weekends
- Only ship inside the USA
In a nutshell, JM Bullion is highly recommended to a potential customer looking to buy precious metals quickly, easily, and at a good price. It is not the first choice on the market for collectors or people looking for specialty assets, as the product stock is comparatively limited.
Services Provided by JM Bullion
Let’s take a closer look at what you can hope to find on the JM Bullion website. The browser experience when you search through the website is pleasant- the layout is simple and the navigation straightforward. Services you can choose from are as follows.
Buying Gold and Other Precious Metals
JM Bullion is first and foremost a precious metals retailer, and this is where the bulk of the business is focused. The buyer can see live market pricing updates displayed clearly at the top of the website to have an idea of what they can expect to pay.
Some of the assets you buy at JM Bullion include:
Gold, Silver & Platinum Bullion
Bullion refers to bars of precious metals, but the term is also widely used to describe silver, gold, or platinum in bulk. You can find standard bullion ranging from one ounce to 10 ounces or choose from a selection of specialty mint gold bars.
It is also possible to buy palladium or copper in bulk on the JM Bullion website. Prices for these lesser metals are competitive against the market.
Customers can buy gold coins from America, Canada, Australia, Britain, China, Mexico, South Africa, and various places in Europe- all directly from the JM Bullion website. Although the company does not offer as many rare coins, it does have a decent selection ready to ship.
Silver coins are one of JM Bullion’s best-selling collections. You can choose from various gradings, countries of origin, quality, and size. The line of international silver coins available to search through with JM Bullion is one of the best in the business.
Popular amongst collectors, history buffs, and art lovers, silver rounds are a quality investment. They may look like coins, but silver rounds are not legal tender- they were just made for fun.
One of their biggest appeals is their collectability, making them ideal for customers who collect coins as a hobby. From an investor’s point of view, silver rounds have a low premium over spot prices, which is great for a buyer who is new to bullion.
Selling Gold and Silver Bullion
You can also sell your precious metals to JM Bullion. Most of the leading gold and silver e-commerce sites offer this kind of service, but JM Bullion works a little differently. A customer can lock in a price guarantee for their gold or silver, confirm the sale, deliver the shipment, and receive payment- all without the help of an advisor!
The “do it yourself” selling style may seem like a lack of customer support, but it is actually a great service. Available 24/7, the automated buy-back system makes the whole process easier- as long as your specific product is listed.
How Does it Work?
A quote is given when you first enter the details and weight of your bullion. When you proceed to check out, you guarantee the offer, meaning that as long as your product matches the description, you receive the agreed amount. You then receive email instructions on the packaging and how the items should be shipped.
Once the JM Bullion inventory team receives your bullion and verifies it, the purchase is confirmed, and the payment is sent. The whole thing takes a few days, depending on the area you live in.
If Your Product Is Not Listed
When we tried to use the automatic buy-back service, we found that not everything has a listed price, in which case it is necessary to contact one of the specialists by phone or email. Everything else works the same- you just need to contact the company representatives for additional information regarding prices.
Through JM Bullion and the CFC (Collateral Finance Corporation), you can take out a loan leveraged against your gold. It is a quick and easy way to get access to liquid cash without having to actually sell any silver. As long as you pay back the loan money as agreed, all your precious metal remains in your name and under your control.
Loans are a new and growing part of the JM Bullion business, but CFC is a leader in the industry. The company has a reputable track record for low interest and high loan-to-value rates. Although they are not registered with the BBB, there are plenty of satisfied customer review posts and ratings on other trusted forums.
What Are Consumers Saying?
Reviews in general for this company are overwhelmingly positive, despite some mixed scores on popular trust review forums. The company is still fairly new compared to some of its competition, so a reputation is still being built.
About the Product
Most of the negative reviews JM Bullion receives relate to the lack of product available. Although the website advertises an impressive range of silver coins and other precious metals, they are very often not available to ship.
Standard products do not often have an issue, but many collector items- particularly silver rounds- are rarely stocked. Many customers complain about trying to order an advertised product only to be told the order cannot be fulfilled.
About the Prices
The prices across the board are very competitive compared to some other providers. We love that you can view real-time market prices, so you always know what to expect. JM Bullion does not take any additional service charge on any order and often offers promotions and discounts.
One policy that attracts some complaints from customers is the company’s stance on market loss fees. Because prices fluctuate, there is a chance that the value of your purchase could rise or fall from the original price you agree to pay.
Market loss policies only apply if you cancel an order or fail to deliver the money for your order. JM Bullion is one of the few companies that does not charge any cancellation fee. However, they do require funds paid should the value drop between the time of order and the time of cancellation. In this case, you are charged the price difference.
By doing this, the company breaks even on any canceled order, but they do not profit. Some reviews claim this policy is unfair; however, it is more lenient than most other cancelation policies in the industry.
About the Delivery
Once your items ship, you can track your order every step of the way. Reviews regarding the delivery process are very positive, with high ratings across the board. A common positive review is how well items are packaged, which, in turn, leads to incidents of damaged goods becoming few and far between.
About the Customer Service
There are mixed reviews for JM Bullion’s customer service. On the one hand, people seem very happy with the service they receive from customer support from buying to complaints. However, no support is available over the weekend. Hours follow Dallas time and work from 8 am until 6 pm Monday to Friday.
We Contacted JM Bullion Customer Service…
Our experience when contacting the support team was excellent. The waiting time was short, and the representatives we spoke with were professional, informative, and pleasant. When discussing a purchase they were not pushy but managed to explain the options clearly and concisely. Overall, we were very impressed.
At the weekend, it is very difficult to get in touch with anyone, due to the restricted hours of business. If you have any difficulties on a Saturday or Sunday, this could cause quite a significant inconvenience.
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 been accredited by the BBB since 2014. With few complaints filed and an extensive collection of positive feedback, most trust websites hold the company in high regard. The current BBB rating for the business is A+.
What is a precious metals IRA?
Many people who invest in gold do so to diversify and protect their retirement funds. An Independent Retirement Account is one way investors choose to store physical assets they have purchased.
A gold IRA rollover is something many savvy savers put their money behind- in the form of precious metals. JM Bullion is not a custodian directly, but it does have a partnership
What payment options does JM Bullion accept?
There are several ways to pay for online goods in 2021. JM Bullion accepts many of them:
- Credit or debit card
- Bank wire transfer
- Paper check
It is worth noting that the company offers a four percent discount on payments via bank wire, eCheck, or paper check and a three percent discount when paying with Bitcoin. There is no discount for card payments or PayPal.
Does JM Bullion have a minimum or maximum purchase amount?
The restrictions on how much or how little you can buy vary depending on your chosen payment method. There is no minimum purchase amount for any payment option other than a bank wire transfer (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. Anything over this amount must be discussed directly with a consultant.
Is JM Bullion a legitimate company?
Yes, JM Bullion is reliable, trustworthy, and very much legitimate. Information surrounding the history and journey of the team that built the company is also readily available for anyone who wishes to read 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. Orders are tracked and traced and require the recipient to sign for anything worth more than $1,000. If a shipped item arrives damaged or does not arrive at all, you must phone the company immediately.
Insurance only covers the delivery, so if you notice straight away that something looks wrong, the company suggests you refuse to sign or accept the package. It is then sent back and your refund processed. If you accept the goods then realize there is damage, you have 48 hours to contact JM Bullion so that can submit an insurance claim.
Miss the deadline and any further costs are your responsibility. You can ship it back, but you are likely to have to pay it yourself.
Where is JM Bullion based?
JM Bullion is an online business with no physical commercial locations. However, the corporate offices are in Texas, and the warehouse is in Las Vegas. All purchased product comes from this location, and anything you sell to the company is shipped there as well.
The business operates exclusively in the USA and is tailored completely to domestic clientele. If you are based outside the USA, JM Bullion is not the one for you.
JM Bullion Review: Final Thoughts
To anyone considering a precious metal investment in 2021, JM Bullion is certainly a viable option. The company does a good job of keeping the quality and service high, and the costs and confusion low. From silver rounds to golden bars, JM Bullion has you covered.
In a nutshell, someone who wants a smooth, streamlined buying process with friendly advisors, a simple product choice, and a competitive rate would do well to seek out JM Bullion’s contact information. However, someone interested in rare collectibles and specialty items may not find what they are looking for.
If the reviews are correct- which, after our investigation, we believe they are- then JM Bullion is one of the most user-friendly places to buy and sell precious metals. After a decade in business at the turn of 2021, JM Bullion deserves a seat amongst the other big players at this golden table.
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