11700 Preston Road Ste 660153
Dallas, Texas 75230
In this JM Bullion review we take a look at the business, its offerings, what we liked, what we did not like and whether we would or would not use it to invest in gold or a gold-backed IRA.
Who is JM Bullion?
A Dallas-based precious metal retailer online, JM Bullion offers investors an opportunity to buy silver and gold, as well as other precious metals.
The company was founded in 2011 by Mike Wittmeyer, and it continues to grow in sales ever since its inception.
Investors who have worked with JM Bullion were impressed by its user-friendly website and numerous options for contacting customer service representatives for complaints and inquiries.
What Does JM Bullion Offer?
JM Bullion specializes in selling gold and other precious metals, but it focuses only on actual and physical metals without any paper investments.
Investors have the option to purchase gold bars and there are also different types of gold coins available. For instance, there are the South African, British, Australian, American and Canadian gold coins offered at JM Bullion.
When placing an order for silver and gold with this company it’s based on the price agreed between the two parties. The metals are then shipped to the customer based on the address indicated.
Furthermore, the cost of insurance and shipping are all inclusive of the total price of the item purchased.
The only main concern that some investors may encounter from this company is its absence of storage services. Hence, after purchasing metals or other products from JM Bullion, investors are required to come up with their own storage – and this is an issue that may not be experienced when dealing with other investment companies.
Moreover, it does not include IRAs, yet its partnership with New Direction allows it to offer IRAs to clients who are interested in this feature.
There is a variety of products offered and the catalogs provided to investors are concise and clear. Nevertheless, the company has gained some positive customer reviews when it comes to its level of service.
Thus, this makes the entire process simpler and more straightforward, which is a plus factor for first-time investors.
Things To Like About JM Bullion
1. Wide Range of Metals Available
Investors can select from an extensive selection of products offered at JM Bullion. Among the products available include gold, silver, copper bars and coins that come in a range of denominations.
2. No Service Charges
Another positive feature of this investment company is the lack of service charges placed on top of the product’s total price. With this in mind, the total cost to be paid is the one indicated in the listed price, as well as any shipping charges that apply to it. There are no commissions service charges added to the amount of the metals purchased.
3. Up-to-Date Product Price List
The prices of items offered are up-to-date, as presented from Xignite.com through a data feed. The costs of metals are also based on a market price value that is fair and issued at the specific time of sale.
In addition, the company’s official site has a lock in feature that holds the price of gold for 10 minutes (from the time you begin the checkout process).
Things NOT To Like About JM Bullion
1. No Storage Services
Having storage for the product purchased is a special ancillary service that investors look for in a company. Unfortunately, JM Bullion lacks this feature, which can be a hassle to investors since they need to provide their own storage.
2. Not a Listed Dealer of U.S Mint
This is another feature that JM Bullion lacks, which is also important to investors. When it comes to comparing investment companies, it helps to work with one that is not only a listed dealer of US Mint, but also has a valid ICTA membership, which adds to a company’s credibility.
3. Not TRUSTe Verified
Since you are allotting a certain amount for buying metals, it is important that the company is TRUSTe verified. This way, you will have peace of mind as you conduct your transactions online.
JM Bullion – IRA Fees
|Initial Setup Fees||Depends on Custodian|
|Annual Admin Fees||Depends on Custodian|
|Annual Storage Fees||Not Disclosed|
|Minimum Purchase Amount||Not Disclosed|
|Preferred Depository||Own Selection|
Rankings, Complaints and Customer Reviews
Better Business Bureau (BBB)
When looking at the JM Bullion reviews on the BBB, the company has been an accredited business since July 14, 2014. It is currently rated A+, and this online investment company has received several complaints on these issues:
- 5 on sales and advertising issues
- 76 on problems with product and service
- 9 on delivery issues
- 4 complaints on billing and collection issues
Although these issues have been resolved, there are some customers who are not keen on working with a company with history of complaints (read more).
Business Consumer Alliance (BCA)
The company has no present accreditation with the Business Consumer Alliance and there have been no current complaints filed at BCA as well.
|Based on 0 reviews|
The company is listed with TrustLink, but there are no reviews of JM Bullion posted.
Currently, there are 18 customer complaints listed on Ripoff Report.com.
These issues have been encountered by investors since 2013. However, JM Bullion has addressed these complaints and resolved them.
JM Bullion Review – Final Thoughts
- No service charges
- Wide selection of products
- Up-to-Date pricing
- Lock in Feature on the website
- Sales and advertising problems
- Issues with quality of products offered
- Lack of storage as ancillary service
- Slow and untimely response to customer complaints
JM Bullion may be noted for its reasonable and up-to-date pricing, yet there are other important aspects that impact investors’ decision for not choosing this company for their needs.
For instance, there are insufficient details presented on this company, which is crucial when it comes to selecting an investment company.
The lack of accreditation and rating with BCA and TrustLink can also give people some doubts whether they should opt for this company or look elsewhere.
I’ve been a financial retirement planner for over 30 years and have been investing in gold, silver and other alternative investments since 2008. When I’m not spending time with my wife and 3 beautiful children, I am learning more about new emerging technologies such as the blockchain.