Is JM Bullion A Scam Or Legit?

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Precious metals have been gaining a lot of popularity, with a lot of individuals investing in them. While this information may not make news, plenty of gold dealers are getting into the market, with JM Bullion being one of them. This article will be reviewing the company and whether or not they are legitimate.

It would be best if you carried out your due diligence before you make any investment. When you are well informed, you can make better decisions and know what company would suit you best. Below is a review of JM Bullion.

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  • 2021 company of the year

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Is JM Bullion A Scam Or Legit?

JM Bullion

JM Bullion offers precious metals bullion services and was founded by Mike Whittmeyer in 2011. The company has a physical address, but its operations are done online. You can sell to them or buy precious metals from them.

JM Bullion has a range of products you can select from. This includes copper, palladium, silver, platinum, gold in the form of bars and coins. If you are interested in seeing more items, they offer, visit their website, but mainly their precious metals are sold as coins or bullions.

They are primarily known for their gold bars and coins that are quite valuable and often make them more attractive to investors. The company is one of the "fastest growing precious metals company in America," according to Inc.com. The company has 30 employees despite its growth.

In a year, the company generates about $661.3M. They are based in the US and only operate in the US, so you may have to consider working with a different precious metals company if you are outside the US.

When you purchase precious metals from them, your order is shipped one business day after your payment clears. However, it is worth mentioning that the company does not guarantee how many days it will take them to ship your order. How long the shipment takes is dependent on the carrier.

JM Bullion Precious Metals Offerings

JM Bullion sells and buys physical bullion. Listed below is a detailed product list of what to expect when purchasing or selling precious metals to them.

Is JM Bullion A Scam Or Legit?

Palladium

Their palladium selection includes one gram PAMP Suisse Fortuna bars, one ounce Credit Suisse bars, Canadian Maples, and American Eagles.

Is JM Bullion A Scam Or Legit?

Copper

Their copper selection includes one-ounce bars, wheat pennies, bullets, and rounds.

Is JM Bullion A Scam Or Legit?

Platinum

This option includes a wide selection of bars and platinum coins.

Is JM Bullion A Scam Or Legit?

Silver

You can select from bars, bullets, statues, rounds and browse silver coins.

Is JM Bullion A Scam Or Legit?

Gold

This selection has gold bars in various weights, European Gold Bullion, Canadian Maples, and American Eagles.

Other than precious metals bars and coins, JM Bullion also sells jewelry and coins from popular cultures such as Star Trek and Disney. However, note that they are not considered or categorized as jewelers. You can pick various pieces of jewelry from them in gold.

Is JM Bullion A Scam Or Legit?

JM Bullion Payment Method

One of the best and perhaps the most impressive thing about JM Bullion is how diverse their payment method is. This makes their items accessible to all kinds of investors, making them quite a convenient choice to work with in the industry. You can use whatever payment method that is convenient for you.

The payment methods accepted by JM Bullion include Visa, MasterCard, American Express, Discover, PayPal, PayPal Credit (formerly Bill Me Later), bank wires, paper checks, ACH, bitcoin, bitcoin cash, Dogecoin, Ethereum, and 4 USD-pegged stablecoins (GUSD, USDC, PAX, and BUSD). ”Paper checks” include personal checks, money orders, cashier’s checks, online bill pay, bank drafts, and traveler’s checks. They do not accept convenience checks or prepaid cards and bank wire minimums of $1,000.

Is JM Bullion A Scam Or Legit?

How JM Bullion Company Works

It is worth mentioning that while JM Bullion company is a precious metals dealer, they do not offer Gold IRAs directly. Suppose you are interested in precious metals IRAs. They do have custodians they have partnered with who can help you with that.

Is JM Bullion A Scam Or Legit?

How to Buy Precious Metals from JM Bullion

Since all JM Bullion operations are conducted online, you have to log onto their website. On the top of their homepage, you will see their bullion offerings categorized in tabs. Described below is how you can purchase precious metals from them.

  • Go through their product list, select the products you are interested in and add them to your cart.
  • Choose the product quantity you want to purchase.
  • Once you are through, proceed to the checkout page.
  • Key in your payment information.
  • Choose the shipping method you prefer.

Suppose it is your first time buying precious metals from JM Bullion. You will have to key in your shipping information and contact information to finalize the checkout process. You can also create your account with JM Bullion during the checkout process if you do not already have one. Alternatively, you can create an account from the homepage by clicking on the register option. You will have to fill in your full name, password, phone number, and email address.

It is also worth mentioning that you can exchange or return an item after purchasing it as long as you do this within five business days after the item has been delivered to you. You may be required to send a picture of the product.

If you want to return a product you bought, contact JM Bullion customer service by sending a live chat, an email, or a call to inquire further about their return policy. However, it would be best to find more information about their return policy before purchasing from them.

The team at JM Bullion must authorize your return first before you send the item back to them. It is worth stating that you are responsible for catering for the shipping costs, and you could also be in charge of market losses.

Essentially, this means that the company will offer you a buyback price depending on the current market price instead of the initial price you paid. Suppose the market goes down after your purchase. You will lose money when you return the product to them, not forgetting the shipping costs you would also have incurred.

JM Bullion Shipping

This company uses UPS or USPS to ship their precious metals, and they usually include insurance and shipping costs for any orders starting from $99 and above. Usually, your payment will take one business day to clear, and then you can start tracking your order.

If your order costs $1000 or more, you will have to sign upon delivery. However, while checking out, you can request a required signature for any purchase amount. The payment method you chose may determine how long your shipment will take. For instance, if you pay with a wire transfer, PayPal, cryptocurrency, debit card, or credit card, the payment clearance is immediate. A paper check and ACH take three to five business days.

You can be sure that your package will safely arrive because they are usually wrapped in protective and secure packaging. Generally, the shipping and packaging are pretty decent and do not indicate that the package is high-value. This can give peace of mind and be relaxing for buyers who are getting precious metals sent to their homes.

Your package is covered by insurance from the minute it is packed in their warehouse to being delivered to your home. Once you sign for the package, you are responsible for it. Therefore, it would help to contact your insurance provider beforehand to cover your precious metals once they have been delivered if you plan on storing them in a safe in your home.

Is JM Bullion A Scam Or Legit?

Selling Your Precious Metals to JM Bullion

You can buy and sell precious metals to JM Bullion. Suppose you want to sell precious metals to JM Bullion. Contact them on their toll-free number to inquire about the prices they will offer for the metals you want to sell to them. JM Bullion claims to be one of the companies with the highest buyback prices in the precious metals industry.

It is worth mentioning that all their buyback prices are usually settled over the phone. It would be best to research market prices to find the best rates before finalizing a sale to know if you are getting a good deal.

Suppose you want to sell precious metals to JM Bullion. First, you need to know that they do not buy precious metals for less than $1000. Their website has their buyback prices, so you can check them out or call them as stated earlier.

Once you have finalized a sale, they will email their insured shipping labels and mailing instructions. They will issue your payment by wire transfer, ACH transfer, or check between one to three business days after receiving and inspecting your package.

Note that if you send counterfeit precious metals to JM Bullion, they will destroy them, and you will be reported to the local authorities and federal authorities. Since they take dealing with precious metals seriously, it would be best to confirm that your precious metals are legitimate and ensure you got them from a trustworthy dealer. This is also an indicator that the company is trustworthy since they take all the necessary measures to ensure they have high-quality and legitimate precious metals.

Is JM Bullion A Scam Or Legit?

JM Bullion Storage

JM Bullion has partnered with TDS vaults to offer storage options. You can fill out an application form on their website to open a vault storage account with TDS. Their storage locations are found in:

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

Therefore, you will have to select a vault location you want, and once you are through with that, purchase precious metals from JM Bullion and have them sent to the vault account directly. It is advisable to have your precious metals stored in a safe instead of your home.

JM Bullion Pricing

JM Bullion prices are similar to that of other companies in the industry. However, they do not charge service fees or additional commission. Their website often has a live spot pricing that you can check out and compare to what other companies have to offer. One of the best things about them is that they are transparent with their pricing, unlike most companies in the industry.

JM Bullion Customer Support

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.

Pros of JM Bullion

Pros

  • Have a wide range of payment options.
  • Offer low shipping costs.
  • Have a wide range of products.
  • The BBB accredits them.
  • Positive reputation and customer feedback.
  • They have live pricing on their website.
  • Offers a five-day return policy.
  • Offers military discount.
  • Free gold shipping to their storage partner TDS.
  • They have no additional commissions or service fees.
  • Offers an automated investment program.
  • Transparent with their pricing.
  • They have a user-friendly website that is pretty easy to navigate.

Cons

  • They are not listed as US mint dealers.
  • They do not offer direct precious metals IRA service.
  • Their customer service is not the best.
  • Limited products compared to competitors.
  • They do not sell internationally.
  • Their rating on trust pilot is questionable.

Is JM Bullion a Scam?

JM Bullion

JM Bullion is not a scam. On the contrary, it is a legitimate precious metals dealers company that was founded in 2011. It would help if you read some of the reviews left by customers to know if they are the right company for you.

The company is pretty safe since you can track your package once you make a purchase. Their packaging is also discreet, and you can always request for signing before delivery. One of the factors that discredit the company and the constant complaints from customers is their customer service is unresponsive.

If you are fairly new to investing or even if you are a seasoned investor, JM Bullion has one of the easiest selling and buying processes. Generally, their offerings are pretty excellent, except that they do not sell precious metals internationally. Their pricing structure is transparent, and they accept several types of payment methods, making them one of the best precious metal dealers to work with.

JM Bullion is accessible to every individual since you are not restricted to a specific budget, and you can always start small before making major investments. The prices might fluctuate depending on how the market is doing, so you have to be on the lookout for this.

As stated before, it would help to do your research before investing or buying precious metals from JM Bullion. Ultimately, deciding whether or not they are the right company to work with is entirely up to you. Read their customer reviews, check the prices and offerings, and compare this to what their competitors have to offer. This will help you make an informed decision.

Frequently Asked Questions 

Are the precious metals JM Bullion sells fake?

No, the precious metals sold by JM Bullion are legitimate. The company has been running since 2011 and are considered one of the fastest-growing companies in the industry, so you can be sure that they only deal with legitimate precious metals. They are also pretty thorough with the metals they buy from individuals and will report anyone who sells them fake precious metals, so you can be sure that anything you buy from them is authentic.

Does JM Bullion have a physical store?

JM Bullion runs all their operations online, so you will have to email, live chat, or call them if you would like to purchase anything. But they do have a physical address where their headquarters is based. Their headquarters is located in Dallas, Texas, and their address is 11700 Preston Road, Suite 660153, Dallas, Texas 75230. However, it is worth mentioning that this address is not a physical one.

Can you sell your precious metals to JM Bullion?

Provided your precious metals are legitimate. You can sell them to JM Bullion. It would be best to reach them through their toll-free number to inquire about the prices or check their website for their current prices, then call them. Usually, you will finalize the pricing over the call, then you will have to send over the precious metals for valuation, and if they are legitimate, they will send you your money within three days. Ensure your precious metals are authentic. Otherwise, they will report you to the local authorities and federal authorities.

Is JM Bullion safe?

Yes, JM Bullion is a pretty safe platform to get your precious metals because their payment and security measures are pretty secure. They also allow you to choose whether you want to sign for your package when delivered, regardless of the purchase amount. Their packaging is pretty decent, meaning no one can tell there are precious metals in your package, and the package is also securely wrapped, so you are sure it will arrive safely.

Why should I choose JM Bullion?

The decision about what company you want to work with is entirely up to you. However, one of the factors that should make you consider working with JM Bullion is that they offer a wide range of precious metals you can choose from, they have a range of payment options you can select from, and have been running for an extended period so you can trust them since they have experience in the industry.

Although we do think that JM Bullion is a solid company, we believe that there are better companies out there to make your investment with.

You can get a free gold investment kit from our #1 recommended precious metals investment company above, or you can checkout our top 5 recommended companies below...

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