When it comes to your precious metals, you’re bound to be skeptical about online sites like JM Bullion. What if I’m charged a lot more than the usual cost? What if it’s a whole scam? Questions like these arise every now and then.
This is why I’ll provide you with an in-depth JM Bullion review and let you know how reliable the company is and if you should invest in it or not!
The business of gold and similar metals can prove to be a shady one at times, and a reliable metal trader is an absolute necessity in this business.
I’d suggest you do your own thorough research on the feasible companies. After all, you shouldn’t have any sort of regrets regarding the company you’ll be spending your hard-earned money on!
That being said, it’s time to dive deep into JM Bullion and see if they are worth your money.
What Is JM Bullion?
As the name suggests, JM Bullion deals in Bullions, which are basically bulks of different metals like gold, copper, platinum, or silver. The people at JM Bullion sell different metal items like silver coins, silver rounds, gold bullion, and many other precious metal IRAs.
They’re the leading online retailer of bullions in America. The reason behind their success is that they focus on customer satisfaction and offer very competitive prices for their customers.
The shipping cost for any sort of bullion, be it platinum bullion or silver rounds – is completely free with this company. If you’re looking to purchase precious metals but are a tad bit confused about security, JM Bullion has the solution for you.
They provide you with top-notch online security, alongside an ‘Order 24/7’ feature that enables you to purchase metals any time of the day! You can easily order metal from JM Bullion’s website.
If you’re not comfortable with online orders, you can simply call them to place an order. The JM Bullion reviews are, in general, quite decent.
How does JM Bullion work?
Just like other online retailers, you get to order metal items from JM Bullion’s website. They have a variety of quality products like international and domestic bullion, numismatic coins, uncirculated coins, etc.
JM Bullion has fair pricing on all their products, and you’ll most likely get discounts on several of the products, including gold bars, silver coins, and platinum products.
The company works with reputable distributors and renowned mints. They have a highly efficient quality control team and tend to ensure fast delivery with all their orders. The items you see on their website are all in stock and just waiting for your confirmation – they’ll ship them right away!
Perhaps the most interesting feature about JM Bullion is that the investors actually get to physically hold the bullions they purchase and keep it – unlike many other sites.
Since its opening back in 2011, the company has become the price leader when it comes to bullions. Many famous gold dealers highly recommend JM Bullion because of its excellent service. The company does all its business from its headquarters in Dallas, Texas.
From JM Bullion, you get to buy precious metals like Platinum, Palladium, Silver, and Gold in different forms like bars and coins. Their website mostly consists of coins and bullions. The company cannot technically guarantee you the exact number of days required to ship your orders, as it depends on the carrier.
However, they assure the customers that JM Bullion orders are usually shipped within 1 business day once the payment is made.
History of JM Bullion
Michael Wittmeyer and Jonathan Wanchalk decided to have their own investment in gold and other metals in an online-based business back in 2011.
Back then, the online retailer business on metal wasn’t as popular, and for them, it was a leap of faith. It was either go big or lose money – all of it. Luckily, with their hard work and business planning, they soon became one of the top retailers in the metal marketplace.
Nine months since their opening, and they were already having $100,000 sales a day. It still was a risky business, as customers were still unsure and didn’t want to buy gold online. But for a two-man operation, they were making enough.
Over the course of the next few years, JM Bullion kept rising as a company, and people finally started spending on online metal markets. In 2019, Michael Wittmeyer, the CEO and co-founder of the company, was awarded the ‘Entrepreneur of the Year’ from EY in the Retail and Consumer Products segment.
From a two-man business, JM Bullion’s name has spread all over America, and they’re a prime choice for gold dealers now to trade precious metals. Now they have around 100 employees, ship around 6000 orders per month all over the world — and can be easily called a reliable online source for precious metals.
As a matter of fact, they were ranked #40 on the Inc. 500 back in 2016! JM Bullion partners with different other online retailer sites like Silver.com, ProvidentMetals.com, SilverPrice.org, GoldPrice.org, etc.
JM Bullion Features
JM bullion, as a company, specializes in selling different kinds of precious metals. They are widely recognized as one of the top metal retailer companies because of these features. Time to explore them a bit:
The Undisputed Leader When It Comes to Precious Metals
Over the course of time, JM Bullion managed to become one of the leading web retailers in all of North America. According to a 2019 ranking of internet retailers, the company became 96th in a list of top 500 online businesses all over the world.
The company also became 5th in the Primary Merchandise Category because of their top-notch performances. But these are their accolades as a business enterprise. In terms of online precious metals, they’re considered a top company.
Wide Variety of Products
JM Bullion offers you a wide range of metal products, including silver coins, numismatic coins, gold coins, etc. They sell all sorts of precious metals in bullions.
You can buy them by the troy ounce or as a single product. The company has a well-equipped inventory, so there’s never a shortage of metals. The inventory also makes sure there is no carry risk unless there are any personal circumstances involved.
Straightforward and Reasonable Pricing
According to their website, they don’t have any hidden costs, and all sorts of discounts and offers are automatically added to the cart once you’ve added the products there.
You’re supposed to get the products at a great price, and the bullion prices fluctuate based on spot price changes. Perhaps the best thing about JM Bullion’s pricing is that they’re straightforward and don’t include any added costs after checking out.
Decent Customer Service
When it comes to customer service, we have had mixed reviews regarding JM Bullion. While there are negative reviews regarding this particular section, we have found customers highly satisfied with their service.
But I’ll discuss the customer feedback later, first, it’s time for you to know what their customer service has to offer.
The company was awarded the ‘Gold Stevie Award’ back in 2017 for its excellent customer service. Their support staff is Texas-based and are available from 8 AM-6 PM from Mondays to Fridays.
No matter what the question is, their support staff is always ready to answer you with utmost importance. Even though there were complaints regarding their response time, the company states that they’re trying hard to improve significantly on that section.
The testament for their decent customer service is basically the 70,000+ regular customers who actually referred the company to others.
Free & Super-Fast Shipping
From precious metals to random online orders — all customers want one thing. Super-fast delivery. If that comes for free, it makes the whole scenario even better for the customer.
This is the sweet spot JM Bullion managed to hit, as they provide free and fast shipping. Once you’ve cleared out the payment, they’ll take a maximum of 1 working day to ship the order. After that, it depends on the location, the delivery person, and his own personal circumstances.
They also give you the option to select either UPS or USPS while checking out the delivery. All of their orders are sent in after packaging of great quality. All of their products have insurance coverage while in transit against damage, theft, or other kinds of losses.
Excellent Security Ensured
Many customer reviews have pointed out this specific fact — JM Bullion has amazing security services. How amazing? Well, they use 256-bit SSL encryption on all kinds of payments.
This encryption is certified by Norton. The company claims that they’ll never have access to your debit/credit card information. It’s technically not possible for them because the whole payment is secured by CyberSource, a top online security service.
Be it gold, silver, copper, or platinum – the company packs all its products in a bubble wrap and then another proper wrapping so that the outsiders don’t get to see the contents of the package. This discreet packaging method keeps your precious metals safe while in transit.
Many Different Payment Methods Accepted
The company has many different ways of payment. You can definitely try the traditional methods like money-order, cashier’s check, or a personal check.
However, since online payment is more feasible in these times, they also accept PayPal, Bank wire transfers, or even eCheck. To add to that, you’ll be getting a 4% discount if you choose to pay through bank wire transfer, paper check, or eCheck. As said before, the discounts will be automatically added to the total price.
Is JM Bullion Safe?
According to the company, respecting and preserving the rights of their customers is their main priority. This is why they use the 256-bit SSL encryption verified and certified by the likes of Norton and Verisign.
Like I’ve stated before, they don’t have any access to their customer’s credit/debit cards, and they follow strict PCI compliant standards.
Trust is indeed a big word, and it’s hard to trust online marketplaces when it comes to expensive metals, but I have found JM Bullion to be quite safe and secured. Their top-notch technology reassures the customers of the safety they provide.
JM Bullion Pros and Cons
Like all the common precious metal retailers, JM Bullion also has some positive and negative aspects. They’re not perfect by any means, but let’s see if their pros outweigh their cons or it’s the other way around!
Pros
- A wide range of different metal products
- Accredited by BBB
- Free Shipping with every single order
- They accept Bitcoin as a transaction medium
- Top-notch security service with 256-bit SSL encryption
Cons
- Doesn’t have any direct IRA service for precious metal
- The company isn’t listed as a US Mint dealer
- Many customers complained about their slow customer service
JM Bullion Alternatives and Competitors
After going through a few alternatives for JM Bullion, I have shortlisted three of their competitors who are well suited to replace JM Bullion, if it comes to that.
GoldCo – (See my review)
GoldCo excels in the exact same thing JM Bullion struggles a bit on. This very company has zero online complaints regarding their service, something that is very rare to find.
They’re a well-reputed company with many real clients. GoldCo is also endorsed by many of the industry leaders. When it comes to Gold IRA Rollover services, this very company is one of the best in business.
APMEX – (See my review)
Here’s another famous company to compete with JM Bullion. APMEX is basically the largest precious metals dealer online in the world. They have around 10,000 products – all set and ready to deliver and have very affordable pricing.
Their 7-day return policy is backed by decent customer service. The company was founded in 2000 and is one of the oldest precious metal retailers in the business.
However, the company has relatively slow shipping, and the pricing may be a bit higher than other companies. American Precious Metals Exchange, or APMEX, is considered a top choice for their comprehensive offering.
When it comes to cost efficiency, it’s very difficult to beat SD Bullion and their super-low pricing. They also give you a low-price guarantee, so people with a limited budget often tend to choose them as a feasible option.
Their low-cost direct storage has helped them build an online reputation throughout the world. However, their order cancellation fee is a bit too much, and they don’t have a lot of products in their inventory, to be honest.
JM Bullion Customer Reviews
Let’s be realistic, no customer service can provide you with non-stop flawless service; human beings are prone to mistakes after all! Keeping the consistency of top customer support is the key, and as it appears, JM Bullion has successfully managed to do that, according to some customers.
Others, however, are relatively unsatisfied with their service. For example, some users complained about the accountability and lack of professionalism of the customer care staff.
The company does have e-mail, phone numbers, and online services. But at times, customers couldn’t reach them out through any of these mediums, which resulted in low ratings in recent times. But that’s not the case with all customers.
As a matter of fact, even in 2021, they got an A+ rating from BBB.
Many clients also gave feedback regarding their service being below average because of customer service issues. That being said, JM Bullion, despite its mistakes, is still one of the better customer service providers out there.
Frequently Asked Questions
- Does JM Bullion offer gold IRA services?
This is one of the key issues with JM Bullion – they can’t directly offer you Gold IRAs. Luckily, JM Bullion partners are capable of doing that, so you can take help from them if you have any sort of IRA needs.
For a gold IRA, I would recommend looking into Augusta Precious Metals.
- Does JM Bullion offer any storage?
No, they don’t. This might come as a surprise, but JM Bullion won’t offer you any secure vault storage. It’s weird because most of their competitors offer storage facilities, and the customers actively look for such facilities.
However, this very company doesn’t, and their logic behind this is that they want to send you the bullions directly and not just hand you a piece of paper.
- Can you sell your metals back to JM Bullion?
Yes, they will provide you with an opportunity to sell back the metal. The process is fairly simple too, all you have to do is call their toll-free number and ask for the current prices they are ready to offer you.
According to JM Bullion, they have the highest buyback price in this industry, so the chances of you getting conned are quite low. The whole reselling conversation would be finalized over the phone, so it’s safe for you to do research on the market first and then confirm the resell.
- Where do JM Bullion ship their products from?
The company has a massive warehouse in Las Vegas, Nevada. They properly do all the packaging and then mask them accordingly so that people can’t understand what’s inside the package.
- Does JM Bullion charge sales tax?
It depends on the law of the state they’re sending the product to. Sales tax is mandatory on certain products all over the US, so if you go for such a product, you’ll have to pay it. Different states have different sales tax laws, and if your state doesn’t require you paying the sales tax, JM Bullion won’t either.
Is JM Bullion Worth It?
Let’s just put it this way — JM Bullion is definitely not a scam. They’re fully legit and are actually one of the top precious metal dealers in America. They’ve been in this business for over a decade now and are certainly experienced enough to provide you with proper service.
However, some major issues like the customers not getting their desired products in time or the lack of response from the customer service do raise some red flags about the company.
Again, it’s also true that they try their best to resolve all the issues people post on BBB or other sites. But they’re not supposed to make so many mistakes in the first place, and it needs to be taken into consideration if you’re planning to buy precious metals from them.
Final Words
To sum up the JM Bullion review, we have to say that even though they have a few drawbacks — they’re still a top option for purchasing bullions from. Yes, they have their issues, but other companies aren’t really perfect either.
It depends on your preferences and standards while choosing a precious metal provider — and JM Bullion just might suit your choice!
While others might be dissatisfied with their customer service, we’ll have to say that they are a very safe company to buy precious metals from. They may not provide a great service every time, but the chances of you losing your money with them is quite low too.
In the end, we’ll have to say that they’re not a scam, but they sure require some improvements in different sections of their business.
Hopefully my review was helpful in your research. If you want to buy precious metals from JM Bullion, you can do so on their website here.