JM Bullion Review (Are They A Scam?) (Updated 2022)

Hello there! Welcome to my JM Bullion Review! (Updated for April 2022!)

In this JM Bullion Review, we will uncover just about everything there is to know, getting to know the firm and if they’re actually legit or just another scam you should avoid at all costs.

Precious metals have become increasingly popular, with many people investing in them. While this information may not be breaking news, several gold dealers are entering the market, including JM Bullion.

This article will examine the company and determine whether it is authentic.It is preferable if you performed your thorough research before making any investment. You can make better selections and determine which firm is ideal for you if you are properly educated.

So, without any further ado, let’s get started:

JM Bullion Review Quick Summary

Name:  JM Bullion

Website: https://www.jmbullion.com

Founder: Mike Whittmeyer

Price: Varies

Rating: 4 out of 5

What is JM Bullion?

Mike Whittmeyer created JM Bullion in 2011 to provide precious metals bullion services.

Although the company has a physical location, all of its operations are conducted online. You can sell them your precious metals or buy them from them.

You can choose from a variety of products at JM Bullion. Copper, palladium, silver, platinum, and gold in the form of bars and coins are all prime examples. If you want to view more of what they have to offer, go to their website, however most of their precious metals are sold as coins or bullions.

They are best recognized for their gold bars and coins, which are quite valued and frequently attract investors. According to Inc.com, the company is one of the “fastest growing precious metals companies in America.” Despite its expansion, the company employs 30 people.

The corporation generates approximately $661.3 million each year. They are established in the United States and only trade within, so if you are located outside of the United States, you may need to consider working with a different precious metals firm.

Your order is dispatched one business day after your payment clears when you buy precious metals from them. It’s worth noting, though, that the company makes no guarantees about how long it will take to dispatch your product. The courier determines how quickly the delivery will take.

Products and Services

JM Bullion deals with selling and buying physical bullion. The following is a comprehensive outline of what to expect when buying or selling precious metals from them.

Palladium

They offer palladium in forms of one-ounce American Eagles, Credit Suisse bars, one-gram PAMP Suisse Fortuna bars, and Canadian Maples.

Silver

You can choose from a wide array of silver bullets, bars, statues, rounds and look on silver coins.

Gold 

They offer gold in various forms and weights like European Gold Bullion, American Eagles, and Canadian Maples.

Platinum

You can select from a wide array of platinum bars and coins.

Copper

They have copper offerings of wheat pennies, bullets, rounds, and one-ounce bars.

JM Bullion distributes jewelry and coins from popular cultures such as Star Trek and Disney, in addition to precious metals bars and coins. They are not, however, considered or classified as jewelers. You can choose from a variety of gold jewelry pieces.

How Does JM Bullion Store Their Precious Metals?

TDS vaults has teamed with JM Bullion to provide storage solutions. To open a vault storage account with TDS, fill out an application form on their website. The following are the places where they keep their belongings:

• Zurich, Switzerland
• Toronto, Canada
• Singapore
• Las Vegas, NV

As a result of having multiple vault locations, you’ll need to choose a vault location and, when this is all successfully done, acquire precious metals from JM Bullion and have them transported directly to the vault account. It is preferable to keep your precious metals in a safe rather than at home.

How Does JM Bullion Work?

It’s worth noting that, while JM Bullion is a precious metals merchant, they do not however directly offer Gold IRAs. Let’s just say you’re currently looking into precious metals IRAs. They have partnered with custodians who can greatly assist you with this as well.

JM Bullion’s Precious Metals Purchasing Process

Because JM Bullion does all of its business online, you must first visit and log onto their website. Their available bullion options are organized into one of the tabs at the top of their homepage. The procedure for purchasing precious metals from them is clearly outlined below.

• Go through their product list, simply pick the types of items you want to have, and then add them to your shopping cart.
• Choose the quantity of the product you want to acquire.
• Proceed to the checkout page once you’ve completely finished selecting the product and its quantity that you want to purchase.
• Fill in the fields with your payment information.
• Select your desired shipping method.

Assuming you’re a first-time buyer of precious metals from JM Bullion. To successfully complete the checkout process, you will need to input your shipping and personal contact information. If you do not already have an account with JM Bullion, you can try to establish one during the checkout process.

You can also just create an account from the homepage by simply selecting the register option. Your full name, password, phone number, and email address must all be entered.

It’s also probably worth noting that you can swap or return an item after you’ve recently purchased it as long as you do so within five business days of receiving it. It’s completely possible that you’ll be asked specifically to send a picture of the related merchandise.

If you feel inclined to return a purchase, submit a live chat, an email, or a phone conversation to JM Bullion customer support to learn further about their return policy. However, before purchasing an item from them, you should first spend more time learning about their return policy.

First before you send the item back to JM Bullion, they must first fully approve your return. It’s probably worth noting that you’re fully liable for covering shipping charges, and as well as market losses.

This essentially means that the corporation will offer you a buyback price depending on the present market price instead of the price you paid initially. Assume that means the market drops after you make your purchase. So, when you return the merchandise to them, you will lose money, not to mention the fact the shipping charges you would incur.

What Payment Methods Does JM Bullion Offer?

One of the strongest, if not the best, features of JM Bullion is the range of their payment options. As a result, their products and services are therefore accessible to a wide range of investors, making them a pretty handy trading partner to regularly engage with in the market at the moment.

You are completely free to use whatever payment method that is most convenient to you. Visa, MasterCard, American Express, Discover, PayPal, PayPal Credit (previously Bill Me Later), bank wires, paper checks, ACH, bitcoin, bitcoin cash, Dogecoin, Ethereum, and four USD-pegged stable coins are among the payment options accepted by JM Bullion (GUSD, USDC, PAX, and BUSD).

Personal checks, money orders, cashier’s checks, online bill pay, bank drafts, and traveler’s checks are all examples of “paper checks” that they accept. They do not however accept convenience checks, prepaid cards, or bank wires with a $1,000 minimum.

JM Bullion’s Shipping Process

This company ships their precious metals by UPS or USPS, and orders of $99 or more generally come with insurance and transportation charges included. It usually takes one business day for your payment to clear, only after which you may begin tracking your item.

If your order totals $1000 or more, you will be required to sign for it when it is delivered. You can, however, request a needed signature for any purchase amount while checking out. The payment method you select may influence the time it takes for your package to arrive.

Payment clearance is instantaneous if you pay with a wire transfer, PayPal, cryptocurrency, debit card, or credit card, for example. Three to five business days are required for a paper check and an ACH financial transaction.

Because most packages are completely covered in protective and safe and secure packaging, you can rest easy knowing that they will arrive safely. In general, the shipping and packaging are perfectly adequate and do not strongly imply a high-value cargo. For buyers who are having precious metals delivered directly to their homes, this can provide peace of mind and relaxation.

From the time it is packed in their warehouse to the time it is delivered to your home, your package is covered by insurance. You are fully liable for the shipment once you sign for it. If you plan on storing your precious metals in a safe at home, it’s a good idea to consult your insurance provider days ahead of time to be sure they are completely covered after they are delivered.

How to Sell Your Precious Metals to JM Bullion.

JM Bullion is a place where you can always purchase and sell precious metals. Let’s say you wish to sell gold or silver to JM Bullion. Inquire about the rates they will offer for the metals you wish to sell to them by calling their toll-free number. JM Bullion claims to be one of the companies in the precious metals sector with the highest buyback pricing model.

It’s important to note that they normally settle all of their repurchase prices over the phone. To discover if you are actually receiving a decent bargain, study market prices to locate the best rates before concluding a sale.

Let’s say you wish to sell gold or silver to JM Bullion. First and foremost, you should be aware that they do not purchase precious metals for less than $1000. You can check out their repurchase prices on their website or phone them as previously suggested.

They will provide you their insured shipping labels and mailing instructions once you have completed a sale. After receiving and examining your cargo, they will send your money by wire transfer, ACH transfer, or check within one to three business days.

Please be advised that if you try to deliver counterfeit precious metals to JM Bullion, they will be completely destroyed and you will be reported to local and federal authorities. This is because they take dealing with precious metals seriously, it’s wise to double-check that yours are real and genuine and that you bought them from a reputable source.

This is also a sign of trustworthiness, since the company takes all required precautions to ensure that the precious metals they sell are of excellent quality and legal tender.

Pricing of JM Bullion’s Precious Metals

The prices charged by JM Bullion are comparable to those charged by other companies in the sector. They do not, however, impose any service fees or additional commissions.

On their website, they frequently have live spot pricing that you can compare to what other companies have to offer. One of the best things about them is that, unlike most organizations in the market, they are upfront about their pricing.

Customer Support Quality of JM Bullion.

The customer support of a company says a lot about them. JM Bullion has an email address and contact number on their websites where customers may reach them. However, a lot of customers have complained that the company is not accountable or professional.

This is one of the factors that make a lot of people second guess working with the company. However, the company tries to resolve every complaint logged by a customer, so that is a plus for them.

It is worth stating that their customer support is only available on weekdays from 8 am to 6 pm. Their contact number, 800-276-6508, is toll-free.

Here are some “pros and cons” when working with JM Bullion:

Pros

#1 Regulatory Compliant Company

The company has its main location based in Dallas, USA, whereby clients can contact them for additional insight and advice.

They have appropriate and comprehensive accreditation from the state.

Being a fully accredited company, customers can rest easy.

As a result, you can be sure that your investment is safe at all times and with a satisfaction guarantee to match.

#2 Decent Customer Service

Besides that, JM Bullion also has okay customer service to address the needs of their clients.

You can inquire about your orders at any time and through various types of contact platforms like phone or email.

Their responses are timely, and they provide free consultation for both current and prospective clients.

Besides that, the company has received several excellent reviews in the past, especially due to their exceptional performance record.

The company accepts orders primarily through their online platform, though you can contact them at their physical address or by phone if you prefer.

#3 Wide Range of Products

JM Bullion offers a wide range of products. It has a great selection of precious metals that clients can choose from.

Furthermore, these products are sold at relativelt affordable prices.

#4 No Service Fees

One thing I like about JM Bullion is that they ship your orders without any shipping fee!

Additionally, for the products, you are paying for the product only. You won’t be paying for any commission service charges.

#5 Secured Online Shopping

When we talk about buying precious metals, we need to really make sure that it’s safe. After all, we are talking about money and precious metals.

With JM Bullion, rest assured that you are safe when you shop online. The firm protects and respects the privacy and personal information of its clients and customers.

With state-of-the-art technology such as its Verisign-certified 256-bit SSL encryption, you are secured. Furthermore, JM Bullion will never have any access to your credit card data.

Cons

#1 Not TRUSTe Verified

Although JM Bullion guarantees that your online transactions are safe, you should still take some precautionary measures.

When investing in precious metals, it’s critical that the firm is TRUSTe verified.

Unfortunately, JM Bullion is not.

#2 Not listed as a U.S. Mint dealer

Remember this, especially if you are new. When dealing with precious metal investments,  make sure your company is listed as a U.S. mint dealer.

Another thing is to make sure that they’re a valid member of ICTA. Sadly, JM Bullion is neither of these two.

Customer Reviews and Ratings

Here are the reviews and ratings of JM Bullion.

• Sitejabber – 5 out of 5 based out of 2,598 reviews
• Better Business Bureau – 4.63 out of 5 ratings, A+, based on 953 reviews
• Trustpilot – 4.4 out of 5 based on 897 reviews

Bottom Line: Is JM Bullion A Scam?

JM Bullion isn’t a rip-off. It is, on the contrary, a highly reputable precious metals merchant that was formally established in 2011. It would be greatly beneficial if you read some of the client reviews to help determine if they are the perfect company for you.

Because you can better monitor your package once you make a purchase, the company is fairly safe. Their packaging is extremely unobtrusive, and you may always ask for a signature prior to delivery. Customer service is unresponsive, which is one of the causes that discredits the organization and leads to repeated complaints from customers.

If you’re new to investing or even if you’re a seasoned veteran, JM Bullion features one of the most simple and straightforward selling and buying methods. Except for the fact that they do not sell precious metals overseas, their offerings are generally rather good. They have a transparent price structure and offer a variety of payment ways, making them one of the best precious metal dealers to deal with.

JM Bullion is accessible to everyone because you are not usually limited by a budget and can always start small before making large deposits. Prices may fluctuate depending on how the market is currently performing, so keep an eye out for this.

As previously said, conducting research prior to investing in or purchasing precious metals from JM Bullion is strongly recommended. It is ultimately up to you to decide whether or not they are the correct firm to work with. Check out their customer reviews, prices, and products, and see how they stack up against their competition. This will assist you in making a highly educated selection.

The Best Alternative to JM Bullion?

Taking all things into account, JM Bullion seems like a reliable solution for those who want to get into precious metals like gold and silver.

While this JM Bullion review might be the perfect start for your needs, you should also consider another bullion dealer called Augusta Precious Metals.

Augusta Precious Metals has received countless awards from the industry and has outstanding customer reviews. Click here to read their review.