March 20, 2022

JM Bullion Review

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JM Bullion is a popular online gold dealer where you can buy gold, silver, and other precious metals. But is it legit?

JM Bullion
Buy Gold & Silver Bullion Online

Overall Score

4.4

Selection

4.0

Customer Service

3.5

Commissions and Fees

4.5

Ease of Use

5.0

Safety

5.0
5-point scale (the higher, the better)

Pros and Cons

  • No commission fees
  • Good selection
  • Supports many payment methods
  • High minimum for free shipping
  • Some complaints about support

Bottom Line

Legit precious metals dealer with solid reputation

If you want to invest in gold, buying from a reputable dealer is crucial.

After all, you want to be sure your gold is legit and stored securely.

So how does JM Bullion measure up? And is it a reputable dealer?

In this review, find out how JM Bullion compares to other popular gold dealers. Plus, see what you can expect in fees, customer support, and features.

What is JM Bullion?

JM Bullion is an online gold dealer founded in 2011. They offer an extensive range of gold coins and bars from all over the world, including the U.S., South Africa, Mexico, and more. They also offer other precious metals such as silver and platinum.

Prices at JM Bullion are transparent and fairly competitive with other dealers. You can also find limited-time discounts on their Sales page. They charge no commissions or fees, and their site is straightforward and easy to navigate.

In addition to precious metals, JM Bullion offers a few special features, including IRA-approved gold for self-directed IRAs, an automated savings plan, collectibles, and services for selling your gold and silver.

JM Bullion Features and Services

What does JM Bullion have for sale, and what services do they offer? Let's take a deeper look.

1. Buy Gold, Silver, and more

JM Bullion has an extensive range of precious metals, with dozens of categories to choose from.

Gold
Their gold offerings include:

  • American coins, such as Gold Eagles, Gold Buffalos, and pre-1933 coins
  • South African Krugerrands
  • Mexican gold coins
  • Canadian gold coins, such as Gold Maple Leafs and commemorative gold from the Royal Canadian Mint
  • British coins, including Gold Britannias and British Gold Sovereigns
  • Chinese Gold Pandas
  • Australian Gold Philharmonics
  • European Gold Sovereigns
  • Collectible coins from Disney and around the world

For those who prefer their gold in bar form, they have it in a range of weights, from a single gram to 10-oz bars, and bars from numerous countries and mints.

Silver
Their silver selection is just as broad, with coins, bars, rounds, statues, and even silver bullets (though these can't be used in real firearms).

Their silver comes from countries including America, Mexico, Canada, Great Britain, South Africa, China, South Korea, Australia, and New Zealand.

They also carry themed coins based on popular franchises such as Star Wars, Harry Potter, The Simpsons, Star Trek, and Marvel.

Platinum, Copper, Palladium
They sell a more limited range of platinum products, restricted to bars and a small selection of coins like American Eagles and Canadian Maple Leafs.

Customers can also shop for copper and palladium at JM Bullion's site, as well as for a range of related accessories, like collectors' boxes and protective sleeves.

On JM Bullion's Sale page, users will find a selection of discounted products, usually coins and bars that are being sold for a reduced price for a limited time while supplies last.

Which precious metal are you likely to buy?

2. Sell Your Gold and Silver

If you have gold and silver bullion, you can sell it easily through JM Bullion's do-it-yourself buyback tool, which removes the hassle of talking to pushy sales staff over the phone.

Plus, the tool is available 24/7, meaning you can lock in your price whenever the market is at a rate that works for you.

That's not to say you can't sell over the phone if that's what you prefer. They also offer phone sales and buyback services via email.

The minimum purchase amount for this service is $1,000.[1]

Here's how the buy-back service works:

  1. Just lock in a price through whichever of their easy methods works best for you

  2. Follow their mailing instructions and ship your gold and silver to JM Bullion

  3. Once their inventory team has inspected and approved your package, they'll send payment to you directly

They make it easy by providing UPS shipping labels; you drop your package off at a local UPS facility, and once your package is authenticated, you should receive payment in 1-3 business days.

3. Precious Metals IRA

With a precious metals IRA and JM Bullion, you can invest in approved gold and other metals for your retirement through a self-directed individual retirement account.

Why would you do this? Because IRAs offer tax benefits that other investments don't. You can invest tax-free or tax-deferred depending on the type of account.

JM Bullion's recommended custodian is New Direction Trust Company. You can open an IRA account with them, then fund it with IRA-approved precious metals from JM Bullion. Investing options for the precious metals IRA include gold, silver, platinum, and palladium.

Their preferred depository is A-M Global Logistics, located in Las Vegas, Nevada.

Where does JM Bullion store their gold?

JM Bullion has partnered with Transcontinental Depository Services (TDS) Vaults to ensure the safe storage of your precious metals if you should choose not to store it yourself.

TDS has locations in Las Vegas, Toronto, Zurich, and Singapore.

Simply open an account with TDS, select from one of their four available storage locations, and when you purchase precious metals from JM Bullion, you can have it stored safely in one of their vaults.

TDS has double insurance for your peace of mind. Metals stored with them are insured by the vault and as well as through a commercial "all risk" insurance policy.

Read more about how JM Bullion keeps your gold safe on their Storage page.

How would you keep your precious metals safe?

What is JM Bullion's Return Policy?

The return policy at JM Bullion has a 5-day limit; however, they don't indicate whether there's a restocking fee.[2]

Customers will be expected to pay for any market losses incurred by the return, and they won't buy back anything less than $1,000.

You can find their buyback prices listed on the site.

What Payment does JM Bullion accept?

JM Bullion supports a variety of payment methods, including:[3]

  • Credit card
  • PayPal
  • Wire transfer
  • e-Checks

And they even allow for purchases made with Bitcoin and Ethereum, two popular cryptocurrencies. Customers will find that different payment methods will be charged slightly different rates.

They also offer a military discount and discounts for bulk purchases.

What are JM Bullion's Fees?

Fees are always a vital issue to keep in mind when it comes to investing.

Potential customers will be pleased to learn that JM Bullion doesn't charge any special commissions or fees; their profits come from a small spread charged on top of the market rate.

Customers will be charged for shipping if they choose to receive their gold and other precious metals; however, they offer free shipping for orders over $199. They charge $7.99 for orders less than that.[4]

Their gold prices and prices for other precious metals are listed clearly on multiple pages of the site, along with the market price.

How likely are you to invest in precious metals?

How Do They Compare?

JM Bullion is one of a number of popular online gold dealers. How do they stand up against the competition? Let's take a look.

SD Bullion vs JM Bullion
One of their major competitors is SD Bullion, and honestly, the two businesses are pretty comparable. They were both founded around the same time, and charge similar rates on their gold and other precious metals.

JM Bullion appears to have a slightly wider variety of gold, though SD offers enough that it shouldn't make too much difference unless you're looking for something in particular.

SD has a 3-day return policy compared to JM's 5,[5] and they both have 4.5 ratings on Trustpilot, though SD has more reviews.

Overall, the best site for you will come down to whether they offer the exact product you're looking for.

What to Look for in a Gold Dealer

There are several important factors to consider when choosing a gold dealer.

Good Reputation
Positive customer reviews are a good indicator that the dealer you're looking at is a reputable one. And the more reviews, the better.

Physical Offices
Ideally, any gold dealer you choose has physical offices or walk-in stores. If a dealer only lists a P.O. Box rather than an address, it's probably a red flag.

Transparent Pricing
Gold dealers should have transparent pricing, preferably without commissions or extra fees, which you'll want to check for before you make any purchases.

And because the price of gold fluctuates rapidly, you'll want to be sure they maintain up-to-date prices.

Good Payment Options
It's vital to find a gold dealer whose payment options match your preferences. In general, you'll be able to pay via credit card, PayPal, wire transfer, money order, or check.

Some dealers even take cryptocurrency these days. Some methods, like credit cards, may incur a fee that you'll want to consider.

Clear Returns and Buyback Policies
Dealers typically accept returns within three days of purchase, but look out for restocking fees. Since most worthwhile dealers will also buy gold back from you, keep an eye out for their listed buyback prices.

Bottom Line

JM Bullion is a popular online gold dealer that isn't too different from their competition.

Customers will find reasonable rates on a wide range of gold, silver, and other precious metals, with the option to invest in coins, bars, and collectible items.

Their shipping and buyback policies are standard for the industry, and if their reviews are any indication, new customers will be happy with the service they receive.

References

  1. ^ JM Bullion. Do you have a minimum buyback amount?, Retrieved 7/3/2022
  2. ^ "What is the return process?": JM Bullion, 2021.
  3. ^ "What payment methods do you accept?": JM Bullion, 2021.
  4. ^ JM Bullion. Shipping and Insurance at JM Bullion, Retrieved 7/3/2022
  5. ^ SD Bullion. Returns & Refunds, Retrieved 7/3/2022
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Jeremy Harshman is a protector of art and writing at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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