Hello! welcome to myJM Bullion Review！(Updated April 2022!)
hapinessJM Bullion Review, we'll reveal almost everything you need to know about the company and whether they're actually legit or just another scam you should avoid at all costs.
Precious metals are becoming more and more popular and many people are investing in them. While this information may not be news, several gold traders, including JM Bullion, are entering the market.
This article examines the company and determines whether it is genuine. It's even better if you do your research thoroughly before making an investment. Being well educated will help you make better choices and decide which company is best for you.
So without further ado, let's get started:
JM Bullion Review Quick Review
Name: JM Gold Bar
Internet Kant: https://www.jmbullion.com
founder: Mike Whitmire
take: vary from person to person
Evaluate: 4 out of 5
What is JM Bullion?
Mike Whittmeyer founded JM Bullion in 2011 to supply precious metals.
Although the company has a physical location, all activity takes place online. You can sell your precious metals to them or buy them from them.
At JM Bullion you can choose from a range of products. Copper, palladium, silver, platinum, and gold bars and coins are good examples. Check out their website if you want to know more about what they offer, but most of their precious metals are sold in coins or bars.
They are known for producing gold bars and coins which are highly prized and often attract investors. According to Inc.com, the company is one of the "fastest growing precious metals companies in the United States." Despite the expansion, the company employs 30 people.
The company generates approximately $661.3 million in revenue annually. They are based in the US and only trade within the US, so if you are located outside the US you may want to consider working with another precious metals company.
When you buy precious metals from them, your order ships within one business day of receiving payment. However, it's worth noting that the company doesn't guarantee how long it will take to ship your product. The courier decides the delivery speed.
products and services
JM Bullion deals in the buying and selling of physical precious metals. Here is a comprehensive overview of what to expect when you buy or sell precious metals from them.
palladium
They offer palladium in the form of one ounce American Eagle bars, Credit Suisse bars, one ounce PAMP Suisse Fortuna bars, and Canadian Maple.
silver
You can choose from a variety of silver balls, silver bars, figurines, rounds and silver coins.
Kaneko
They offer gold in different shapes and weights such as European Bullion, American Eagle and Canadian Maple Leaf.
platinum
You can choose from a wide variety of platinum bars and coins.
buyer
They have copper gifts such as wheat coins, balls, rounds and one ounce gold bars.
In addition to precious metals and coins, JM Bullion also carries jewelry and coins from pop culture like Star Trek and Disney. However, they are not considered or classified as jewelry stores. You can choose from a variety of gold jewelry.
How does JM Bullion store precious metals?
TDS Vaults has partnered with JM Bullion to provide storage solutions. To open a Vault Storage account with TDS, you need to fill out an application form on their website. These are where they store items:
- Zurich Switzerland
- Canada Toronto
- Singapore
- Las Vegas, Nevada
As there are multiple vault locations, you will need to choose a vault location and after all this is done, buy precious metals from JM Bullion and ship them directly to the vault account. Rather store your precious metals in a safe than at home.
How does JM Bullion work?
It's worth noting that while JM Bullion is a bullion dealer, they don't directly offer a gold IRA. Let's say you're currently looking at a precious metals IRA. They already have partnerships with warehouses that can help with this as well.
Precious Metals Buying Process at JM Bullion
As JM Bullion conducts all of its business online, you must first visit their website and log in. Their available precious metals options are organized in a single tab at the top of their website. The procedure to buy precious metals from them is clearly described below.
- Browse through their product list, simply select the types of items you want, and add them to your cart.
- Select the quantity of the product you want to purchase.
- After selecting the product and quantity to purchase, go to the payment page.
- Fill in the fields with your payment information.
- Choose your desired shipping method.
Let's say you are buying precious metals from JM Bullion for the first time. Enter your shipping and personal contact information to complete the checkout process. If you don't already have a JM Bullion account, you can try to create one during checkout.
You can also create an account on the website by simply selecting the sign up option. You must enter your full name, password, phone number and email address.
It might also be worth noting that you can exchange or return an item after your most recent purchase, as long as you do so within five business days of receiving it. You will most likely be specifically asked to send photos of related items.
If you are planning to return an item, please send live chat, email or call JM Bullion Customer Service to learn more about their returns policy. But before buying anything from them, do take a little more time to understand their return policy.
Your return will not be fully approved until you return the item to JM Bullion. It may be worth noting that you are solely responsible for paying shipping costs and market losses.
This basically means that the company will offer you a buyback price that is based on the current market price rather than the price you originally paid. Assume this means the market fell after you bought. So when you return the item to them, you lose money, not to mention the shipping costs you have to cover.
What payment methods does JM Bullion offer?
One of JM Bullion's strongest features, if not its best, is its range of payment options. As such, their products and services are available to a wide range of investors, making them a very convenient trading partner who is currently participating in the market on a regular basis.
You are completely free to use the payment method that is most convenient for you. Visa, MasterCard, American Express, Discover, PayPal, PayPal Credit (formerly Bill Me Later), wire transfer, paper check, ACH, Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, and four USD-pegged Stablecoins are accepted payment options JM. GUSD, USDC, PAX, and BUSD).
Personal checks, money orders, cashier's checks, bill payments online, banker's checks, and travelers checks are examples of "paper checks" they accept. However, they do not accept convenience checks, prepaid cards, or wire transfers with a minimum amount of $1,000.
JM Bullion's Shipping Process
The company ships the precious metal via UPS or USPS, and orders of $99 or more usually include insurance and shipping. It usually takes one business day for your payment to be processed, after which you can begin tracking your item.
If your order is $1000 or more, you must sign for delivery. However, you can require a mandatory signature for each purchase amount at checkout. The payment method you choose may affect how long it takes your package to arrive.
If you pay by bank transfer, PayPal, cryptocurrency, debit or credit card, etc., the payment is approved instantly. Paper checks and ACH financial transactions take three to five business days.
Since most packages come fully wrapped in protective security packaging, you can rest assured that they will arrive safely. Overall, the shipping and packaging was perfectly adequate, not a heavy item with a high value. For buyers who have precious metals delivered directly to their door, this can provide peace of mind and relaxation.
Your package is insured from the time it is packed in their warehouse until it is shipped to your home. Once you sign for receipt, you will be fully responsible for the goods. If you plan to store your precious metals in a safe at home, it is a good idea to contact your insurance company a few days in advance to ensure they are fully covered upon delivery.
How to sell your precious metals to JM Bullion.
JM Bullion is a place where you can buy and sell precious metals anytime. Let's say you want to sell gold or silver to JM Bullion. Call their toll-free number and ask what prices they offer for the metal you want to sell to them. JM Bullion claims to have one of the highest repo pricing models in the precious metals industry.
It's worth noting that they usually arrange all buyback prices over the phone. To find out if you're actually getting a good deal, research market prices to find the best deal before the sale closes.
Let's say you want to sell gold or silver to JM Bullion. First, keep in mind that they won't be buying precious metals for less than $1,000. You can check their repo prices on their website, or call them as previously suggested.
They will provide you with an insured shipping label and shipping instructions as soon as you close the sale. After your shipment is received and inspected, they will wire money to you within one to three business days via wire transfer, ACH transfer, or check.
Please note that if you attempt to supply JM Bullion with counterfeit bullion it will be completely destroyed and you will be reported to local and federal authorities. This is because they take the handling of precious metals seriously and it is wise to double check that your precious metals are genuine and that you are buying from a reputable source.
It is also a sign of credibility as the company takes all necessary precautions to ensure that the precious metals they sell are of good quality and legal tender.
Precious Metals Prices at JM Bullion
JM Bullion's prices are on par with others in the industry. However, they do not charge service fees or additional commissions.
On their website, they often offer real-time specials that you can compare with what other companies are offering. One of the best things about them is that, unlike most organizations in the market, they disclose their prices upfront.
The quality of customer service at JM Bullion.
The company's customer service says a lot about them. JM Bullion have an email address and contact number on their website where clients can reach them. But there are also many customers who complain that the company is irresponsible and unprofessional.
This is one of the factors that many people are hesitant to work with this company. However, the company does its best to resolve every complaint a customer makes, so this is a plus for them.
It’s worth noting that their customer support is only available on weekdays from 8am to 6pm. Their contact number at 800-276-6508 is toll-free.
Here are some "pros and cons" of working with JM Bullion:
benefit
#1 Law-Abiding Company
The company is headquartered in Dallas, USA and clients can contact them for further insight and advice.
They hold state appropriate and comprehensive accreditation.
As a fully accredited company, clients can rest assured.
Therefore, you can rest assured that your investment is always safe and backed by a satisfaction guarantee.
#2 Decent Customer Service
In addition to this, JM Bullion also provides excellent customer service to meet the needs of its customers.
You can request your order at any time through different types of contact platforms like phone or email.
They respond promptly and offer free advice to existing and potential clients.
Apart from this, the company has received several positive reviews in the past, mostly due to its stellar track record.
The company primarily takes orders through their online platform, but you can contact them at their physical address or by phone if you prefer.
#3 Wide Product Selection
JM Bullion offers a wide range of products. It has a large number of precious metals for customers to choose from.
Moreover, these products are sold at relatively affordable prices.
#4 No Service Fee
One of the things I love about JM Bullion is that they ship your order for free!
Plus, you only pay for the product for the product. You do not pay any commission fees.
#5 Safe Online Shopping
When we talk about buying precious metals, we really need to make sure it is safe. After all, we're talking about money and precious metals.
With JM Bullion you can shop safely and securely online. The Company protects and respects the privacy and personal information of its customers and principals.
State-of-the-art technology like Verisign-certified 256-bit SSL encryption keeps you safe. Additionally, JM Bullion will never have access to your credit card information.
shortcoming
#1 Not Verified by TRUSTe
While JM Bullion guarantees that your online transactions are safe, there are still some precautions you should take.
When investing in precious metals, it is critical that the company istrust verification.
Unfortunately, JM Bullion is not.
#2 Not listed as a US Coin Dealer
Keep this in mind, especially if you are a newbie. When dealing with precious metals investing, you need to make sure your business isListed as a U.S. Coin Dealer.
Another thing is to make sure they arerelaxation. Unfortunately, JM Bullion is neither.
Customer Reviews and Ratings
Below are the ratings and reviews for JM Bullion.
- site chatter– 5 out of 5 based on 2,598 reviews
- better business organization– 4.63 out of 5, A+ based on 953 points
- trust the pilot– 4.4 out of 5 based on 897 reviews
Bottom Line: Is JM Bullion A Scam?
JM Bullion is not a bootleg. Instead, it is a reputable precious metals dealer officially established in 2011. It's really helpful if you read some customer reviews to help you decide if they're right for you.
Because you can keep an eye on your package after purchase, the company is pretty safe. They are packaged with great care and you can always ask for a sign for it. Unresponsive customer service is one of the reasons for the organization's discredited reputation and repeated complaints from customers.
Whether you are new to investing or a seasoned veteran, JM Bullion has one of the easiest and most straightforward ways to buy or sell. Aside from the fact that they don't sell precious metals abroad, their offerings are generally pretty good. They have a transparent pricing structure and offer multiple payment options, making them one of the best precious metals traders around.
Everyone can use JM Bullion as you are usually not limited by your budget and can always start small before making a big deposit. Prices may fluctuate based on current market performance, so please be aware.
As previously stated, it is highly recommended that you do your research before investing in or buying precious metals from JM Bullion. Ultimately it is up to you to decide if they are the right partner. Check out their customer reviews, prices, and products to see how they stack up against the competition. This will help you make your higher education choices.
Best Alternatives to JM Bullion?
All things considered, JM Bullion seems like a solid solution for those looking for precious metals like gold and silver.
Although thisJM Bullion ReviewMight be the perfect start for your needs, another Gold Baron dealer you should considerAugusta Precious Metals.
Augusta Precious MetalsHas received numerous industry awards and has excellent customer reviews.Click here to read their reviews.
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FAQs
Is JM Bullion real or fake? ›
Authenticity. One of the most common questions we receive about our products is “How do I know the gold or silver I buy is real?” Well, fake gold and silver does exist — there is no doubt about that — but here at JM Bullion we take a great deal of pride in assuring the authenticity of each of the products we sell.
Is JM Bullion safe to buy gold? ›Shopping for gold and silver at JM Bullion is easy and they are fast! Reliable, trustworthy and fast shopping experience! After looking in several other places to purchase silver, JM Bullion comes very highly recommended, and I must say I agree.
Is the gold from JM Bullion real? ›Since the majority of our products are sourced directly from the most respected mints across the globe, customers can place their orders with full confidence they are purchasing a genuine silver or gold collectible.
What is the most trusted place to buy gold and silver? ›Best place to buy silver
BGASC, JM Bullion, and APMEX are all good online dealers that sell silver bullion. They offer a wide variety of products, including coins, rounds, and bars in a variety of sizes. One thing to keep in mind is that the price of silver can vary significantly from one dealer to another.
JM Bullion provides its customers with a user-friendly website, transparent pricing structure, dedicated customer support, and investor-friendly features, making it our choice as the online gold dealer with the best customer experience.
Does JM Bullion report to IRS? ›Most reporting regulations revolve around the amount of the investment and the type of payment used. JM Bullion files both IRS Form 1099-B and IRS Form 8300 when required. Form 1099-B is used to report profits made by non-corporate precious metals sellers.
Does JM Bullion have a good reputation? ›JMBullion has a rating of 4.78 stars from 2,895 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with JMBullion most frequently mention precious metals, great service, and fast delivery. JMBullion ranks 1st among Gold sites.
What is the safest option to buy gold? ›Mutual funds and ETFs are generally the easiest and safest ways to invest in gold. Each share of these securities represents a fixed amount of gold, and you can easily buy or sell these funds in your brokerage account or retirement account.
Where is the safest place to buy and store gold? ›Secured storage: banks are commonly considered a secure place, and the precious metals you store in their safe deposit boxes are usually well protected against theft, damage, or loss.
How long has JM Bullion been around? ›Milestones Since 2011
The company has much to celebrate: Launched by two founding members in a Pennsylvania basement in 2011, it has grown into one of the largest precious metals retailers in the world with almost 100 employees. Today, JM Bullion ships over 60,000 orders a month and has been named Inc.
What are the most fake gold coins? ›
More commonly counterfeited gold coins are Chinese gold pandas, $20 Liberty Head gold coins and St. Gaudens gold coins.
Who is JM Bullion owned by? ›JM Bullion was acquired by A-Mark Precious Metals on Feb 9, 2021 .
How do you buy silver and not get ripped off? ›- Avoid “Too Good to Be True” Deals. ...
- Choose a Reputable Dealer and Use Extreme Care Buying from Unknown Parties Online. ...
- Avoid eBay, Craigslist, and Other Online Bulletin Boards. ...
- Avoid Rare Coins and Other Hard-To-Sell Products Price Way Above Their Melt Value.
Gold coins are known to have more sentimental value than gold bars both historically and culturally. Simply put, gold coins can be more ideal for you than gold bars if you want to invest in something with a more historical and cultural value. Again, gold coins have more collectible value than gold bars.
What is the smartest way to buy gold and silver? ›One of the easiest ways to buy gold or silver is to invest in gold exchange-traded funds (ETFs) or silver ETFs, which essentially trade like regular stocks. You can buy and sell ETFs through your stock brokerage.
How long does it take to get gold from JM Bullion? ›Shipping Methods
Overall, the total time it can take for your package to arrive from order placement to delivery will usually be anywhere from 5 days to 2 weeks, however, in some rare cases it can take up to 6 weeks.
jmbullion.com's top 5 competitors in January 2023 are: apmex.com, providentmetals.com, sdbullion.com, gainesvillecoins.com, and more. According to Similarweb data of monthly visits, jmbullion.com's top competitor in February 2023 is apmex.com with 2.9M visits.
What is the spot price of gold from JM Bullion? ›...
Live Metal Spot Price (24hrs) Mar 30, 2023 at 17:51 EST.
| Gold Spot Prices | Today | Change |
|---|---|---|
| Gold Price Per Ounce | $ 1,990.53 | 15.61 |
| Gold Price Per Gram | $ 64 | 0.5 |
| Gold Price Per Kilo | $ 63,997.03 | 501.87 |
Physical gold. According to the CBDT's most recent circular, men, regardless of marital status, are only allowed to possess 100 g of real gold in the form of jewelry and ornaments. Married women are allowed to possess 500 g, unmarried women 250 g, and men 500 g.
How does IRS know you sold gold? ›In the context of precious metal transactions, dealers are required to fill out a 1099-B form. This is done when a customer sells any of the products mentioned in the IRS's Reportable Items List in specific amounts, which we'll discuss further in this piece.
How much gold can you own without reporting? ›
Gold and silver bars that are 1 kilogram or 1,000 troy ounces require the filing as well. American Gold Eagle coin sales do not require a Form 1099-B filing. 5 The tax bill for all of these sales is due at the same time that your ordinary income tax bill is due.
What is the most sought after bullion? ›The iconic Royal Canadian Mint Gold Maple is one of the most internationally sought after bullion coins. It offers investors the potential for numismatic appreciation, in addition to an investment in the precious metal itself. PLEASE NOTE: Year and design of coin may vary from image shown.
Which is the best gold bullion in the world? ›- South African Gold Krugerrand.
- Canadian Gold Maple Leaf.
- Gold Britannia.
- Gold Austrian Philharmonic.
- Gold Australian Kangaroo.
- Chinese Gold Panda.
- Gold Somalian Elephant.
- Gold Mexican Libertad.
The United States holds the largest stockpile of gold reserves in the world by a considerable margin. In fact, the U.S. government has almost as many reserves as the next three largest gold-holding countries combined (Germany, Italy, and France).
What is the smartest way to buy gold? ›Investing in a gold stock, ETF or mutual fund is often the best way to get exposure to gold in your portfolio. In order to buy a gold stock or fund, you'll need a brokerage account, which you can open with an online broker (here's a step-by-step guide to opening a brokerage account).
How can I buy gold and not get ripped off? ›- Buying gold isn't like flipping houses. “If you're playing the stock market, you're trying to see a daily return. ...
- Finding a deal is as simple as paying attention. ...
- Check your sources. ...
- Don't act like an Olympian. ...
- Get a safe.
Based on gold prices at the end of 2020, Hong Kong may be the cheapest country to buy gold from, going by listed face value prices. According to sovereignman.com, it's possible to easily purchase gold in Hong Kong at a lower premium than what's common in other countries.
Is it better to buy gold online or in store? ›Buying online is as safe as buying from a physical retailer, if not even safer. Whether you're interested in purchasing gold bars or coins, you can buy gold online and be safe as long as you deal with a reputable gold company, such as International Precious Metals.
Can you deposit gold in a bank? ›Yes, you can keep gold and silver at a bank. But keep in mind that, according to The New York Times, no federal laws govern safe deposit boxes at banks. Additionally, a bank isn't required to compensate you if your gold or silver is stolen or destroyed while it's in a safe deposit box, the Times reports.
Where is the best gold to buy in world? ›- The Emirate of Dubai, UAE. ...
- Hong Kong, China. ...
- Cochin, India. ...
- Bangkok, Thailand. ...
- Zurich, Switzerland.
Where is JM Bullion based out of? ›
About JM Bullion
The corporate headquarters is located in Dallas, Texas.
Our corporate headquarters and contact center is located in Dallas, Texas.
What is the cheapest way to own physical silver? ›Silver bars offer one of the cheapest ways to buy silver bullion, particularly for large amounts. With lower production costs compared to coins, the same weight of silver in a larger bar will typically be lower than that of multiple smaller coins.
How to buy gold under spot price? ›- First off, decide what bullion or coins you are interested in. ...
- Know what the current spot price is. ...
- Once you know the current spot gold or silver price, shop various online dealers. ...
- Know the other costs involved in the gold or silver purchase. ...
- Deal in volume if appropriate.
Tarnish does not affect the metal content of your silver product, but it can have a modest impact on the resale Value. Dealers and other buyers will often pay a bit less if the silver does not have its original luster. So older US coins for sale sell for less, but still give you the same amount of silver as new ones.
How much gold and silver can you buy without reporting? ›The answer is that there is no limit on how much gold you can purchase without reporting it. However, any sale of precious metals, including gold coins, must be reported on your tax return. So, while there is no limit on how much gold you can purchase, you will still need to report any sales to the IRS.
Can gold be confiscated by the government? ›Under current federal law, gold bullion can be confiscated by the federal government in times of national crisis. As collectibles, rare coins do not fall within the provisions permitting confiscation.
How much is a 1 oz gold eagle today? ›| Order Value | Price | Premium |
|---|---|---|
| $ 1 - $ 136,999 | $ 2,134.98 | 6.50% |
| $ 137,000 - $ 342,999 | $ 2,130.64 | 6.28% |
| $ 343,000 - $ 684,999 | $ 2,127.74 | 6.14% |
| $ 685,000 - $ 1,368,999 | $ 2,124.85 | 5.99% |
If the price of silver rises, you can make a profit on silver coins and bullion, but that's the only way you'll make money here, since the physical commodity does not produce cash flow, unlike a quality business. You can purchase silver through local dealers and pawn shops or online dealers such as APMEX or JM Bullion.
What does Dave Ramsey say about buying gold and silver? ›I'd stop investing in gold and silver completely. I don't put money in precious metals at all, because they have a lousy long-term track record. — Dave Ramsey is CEO of Ramsey Solutions.
What is the best way to sell gold and silver coins? ›
Selling your gold and silver coins to a local dealer is the best way to get the most money for your coins. Local dealers offer higher settlements and instant cash payments over other options like pawn shops.
Who is the largest holder of gold bullion? ›This statistic presents the gold reserves of largest gold holding countries worldwide as of the third quarter of 2022. At that time, the central bank of the United States held approximately 8,133.5 metric tons of gold. The United States has the largest gold reserve, with more than 8,000 metric tons of gold.
Who is JM Bullion competitor? ›According to Similarweb data of monthly visits, jmbullion.com's top competitor in March 2023 is apmex.com with 4.6M visits.
Are JM Bullion orders insured? ›Because JM Bullion provides insurance on every package that we ship, customers can rest assured that they will be able to recoup their investments in the event of theft, loss or damage during the shipping process.
How do you know if a gold dealer is reputable? ›Start by Checking Reviews
Thanks to online reviews, you can learn about any potential company you're thinking of doing business with. Take some time to read over the reviews for gold dealers on various sites. Some of the most popular review sites are Google Reviews, Yelp, and Angie's List.
All authentic Johnson Matthey bars bear the company's stamp, which is the initials “JM” next to two crossed hammers.