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Gold IRAs offer a dependable alternative in light of the highly volatile nature of other retirement account hedging strategies. However, finding a reputable gold IRA firm with the necessary expertise to manage your retirement savings effectively can be challenging.
In this review, we will focus on JM Bullion. We have thoroughly examined consumer and insider evaluations of JM Bullion, carefully analyzing both the positive and negative aspects.
Our evaluation considers factors such as product selection, quality and customer service, aiming to equip you with comprehensive information to make a well-informed decision.
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Company History
Established in 2011 and headquartered in Dallas, Texas, JM Bullion has emerged as a prominent player in the precious metals industry.
What sets JM Bullion apart from other dealers is its commitment to delivering physical goods to customers instead of just providing a paper receipt. They offer various precious metals, including silver, gold, copper, palladium and platinum.
From its humble beginnings with only two employees, JM Bullion has experienced impressive growth and now boasts a workforce of nearly a hundred individuals.
The company was recognized as the fastest-growing firm in its industry in the United States in 2019, a testament to its success. With annual revenue exceeding $650 million, JM Bullion has established itself as a significant player in the market.
Customers consistently praise JM Bullion for several reasons. Firstly, they appreciate the company's competitive pricing, often finding JM Bullion more economical than its competitors. Additionally, JM Bullion is lauded for its accommodating, honest and straightforward approach to business.
Customers mainly highlight the company's reliability and the ease with which they can acquire precious metals or open a gold IRA through JM Bullion's affiliate, New Direction IRA.
While JM Bullion has garnered hundreds of positive reviews online, it is not without its share of complaints.
Some customers have reported issues with deliveries and missing merchandise. However, it is worth noting that JM Bullion's customer care team is often quick to address and resolve these concerns, even when the company is not at fault.
Buying Precious Metals from JM Bullion
JM Bullion stands out for its extensive selection of precious metals. They offer many options, including highly sought-after items such as Gold Buffalo coins, Gold Eagles and pre-1933 regular-issue United States gold currency.
Customers can explore a diverse array of products from both domestic and international sources. For example, JM Bullion provides Mexican coins, Canadian coins, commemorative items from the Canadian mint, South African Krugerrands, various British gold pieces and Chinese gold items like the Gold Panda.
They also offer gold from Australia and Europe and collectibles like Disney-themed gold. JM Bullion has a substantial collection of gold bullion bars for those seeking more generic options.
In addition to its impressive gold inventory, JM Bullion offers a wide selection of silver products. Customers can find silver coins, bars, rounds and even sculptures. For enthusiasts, JM Bullion even offers silver bullets, although these are not intended for combat use.
The company sources its silver from trusted global suppliers for its gold products. Coin collectors will be delighted to find popular franchises such as Star Trek, Star Wars, The Simpsons and Marvel available in coin form for purchase.
JM Bullion's offerings extend beyond gold and silver. They also provide platinum, palladium and iridium for those interested in diversifying their precious metal investments. While not as extensive as their gold and silver offerings, JM Bullion also sells smaller quantities of copper, palladium and platinum.
Selling Precious Metals at JM Bullion
JM Bullion offers a convenient buyback service for customers looking to sell gold, silver and other precious metals. They provide multiple options to initiate the selling process, including their user-friendly JM Buyback Tool, available on their website or by contacting them via phone.
The JM Buyback Tool has recently gained popularity due to its simplicity and practicality, allowing users to sell their precious metals with minimal input without needing to engage with a salesperson.
By using this tool, customers can lock in a rate at a time that suits them best, ensuring they receive the highest possible price for their valuable metals.
In addition to the online buyback tool and phone support, JM Bullion now offers an email service through which customers can sell their gold or silver.
This additional method provides flexibility, allowing individuals to choose the most convenient way to initiate the selling process. Customers can request a quote for their items and quantities and then proceed to ship their precious metals to JM Bullion.
Once the company inspects and approves the received cargo, payment is promptly made to the customer.
Shipping precious metals to JM Bullion is a hassle-free process. Customers need to print out a shipping label provided by JM Bullion, securely pack their items and drop them off at any UPS location.
Within three business days of receiving the shipment, JM Bullion pays the customer in full, ensuring a quick and reliable payment process.
Does JM Bullion Offer Precious Metals IRA?
While JM Bullion does not directly offer gold IRA services, they collaborate with several reputable custodians specializing in gold IRAs.
These custodians can assist you in setting up a gold IRA, a retirement account that includes gold as an investment option. With a gold IRA, you can buy, sell and store gold within the confines of your retirement account.
The recommended custodians that JM Bullion works with are well-established, trustworthy and experienced in facilitating gold IRAs.
They will guide you through setting up a gold IRA account and provide valuable information, advice and support. Additionally, these custodians offer a wide selection of gold coins, bars and other precious metals to purchase and add to your gold IRA.
In addition to facilitating the setup of your gold IRA, these custodians also provide tax guidance to assist you in taking advantage of any available tax benefits associated with retirement accounts.
They may provide additional services such as storage and security solutions to ensure the protection and growth of your gold IRA investments.
While JM Bullion does not directly offer gold IRAs, they provide a specific return policy for gold and other precious metals.
Customers wishing to return their purchases can contact the company via phone to obtain the most up-to-date repurchase pricing. JM Bullion prides itself on offering competitive buyback pricing, among the highest in the industry.
Gold IRAs Through JM Bullion's Trusted Custodian
JM Bullion collaborates with two reputable custodians to facilitate gold IRAs and provide customers with a comprehensive investment solution. These custodians, New Direction IRA and A-M Global Logistics, play crucial roles in ensuring the smooth operation and security of customers' gold IRA accounts.
As a local custodian, New Direction IRA specializes in self-directed retirement accounts, including gold IRAs. They possess the necessary expertise and knowledge to guide individuals through setting up and managing their gold IRAs.
New Direction IRA assists customers in navigating the complex IRS regulations and ensures compliance with all relevant guidelines. With their experience in self-directed IRAs, they provide valuable insights and assistance to individuals seeking to diversify their retirement portfolios with gold.
On the other hand, A-M Global Logistics is a trusted nearby facility that offers secure storage solutions for precious metals held within customers' gold IRAs. They prioritize the safety and protection of customers' physical gold assets.
With state-of-the-art security measures, including specialized vaults and monitoring systems, A-M Global Logistics provides a secure environment for storing precious metals.
This partnership gives JM Bullion's customers peace of mind knowing their gold is being held in a reliable and well-protected facility until they decide to liquidate their holdings.
Through collaboration with New Direction IRA and A-M Global Logistics, JM Bullion offers a comprehensive solution for individuals interested in gold IRAs. Customers can rely on the expertise and guidance provided by New Direction IRA to navigate the intricacies of setting up and managing their gold IRA accounts.
Meanwhile, the partnership with A-M Global Logistics ensures the safe storage and custodianship of customers' physical gold assets, providing an additional layer of security to their investment.
Pricing
Regarding pricing, it is essential to note that New Direction IRA typically charges clients slightly higher fees for their services when investing in a gold IRA. However, JM Bullion stands out in providing competitive prices through their direct-purchase method.
According to consumer testimonials, JM Bullion's pricing is comparable to other leading retailers in the industry. For instance, a reasonable gold price of around $1,800 per ounce can be expected.
JM Bullion offers various products from reputable suppliers, including bars, coins and collectibles. These products come in different rarities and purity levels, allowing customers to choose according to their preferences and investment goals.
One advantage of purchasing from JM Bullion is that their minimum purchase quantity is notably lower than their competitors.
While a $2,500 minimum purchase is required when paying by wire transfer, other payment methods, such as Bitcoin, checks and PayPal, have a more accessible minimum purchase amount of $100.
JM Bullion also sets a maximum buy amount, although reaching this limit would be challenging for most customers. The company places specific transaction caps based on the payment method to ensure security and mitigate risks.
For credit card transactions, the cap is set at $5,000, while PayPal purchases are limited to $10,000. Checks have a higher cap of $50,000 and wire transfers, which involve more significant amounts, have a cap of $150,000. A single Bitcoin transaction can purchase up to $250,000 worth of precious metals.
Payment Methods Allowed
JM Bullion offers a range of convenient payment methods to accommodate customers' preferences. Here are the various forms of payment accepted by JM Bullion:
Can You Pay for Purchases Through Cryptocurrency?
Unlike many other gold bullion dealers that do not accept cryptocurrency payments, JM Bullion stands out by accepting specific cryptocurrencies as payment.
Customers can purchase Bitcoin, Ethereum and Litecoin at JM Bullion. Expressly, JM Bullion also accepts Ethereum and Bitcoin Cash as payment options.
It is important to note that there are specific limits when using cryptocurrencies for payment. Ethereum's maximum fee per transaction is $150,000, while for Bitcoin, the total amount is $250,000. These limits ensure compliance and manage the potential risks associated with cryptocurrency transactions.
Customers must call JM Bullion to confirm and lock in the exchange rate when paying with Bitcoin. This extra step ensures accuracy and transparency in the payment process. Customers can learn from other customers' experiences by reading reviews of JM Bullion, including how the company handles Bitcoin payments.
Storage Options
JM Bullion recognizes that while some customers prefer to store their precious metals at home, others seek more secure storage options. JM Bullion has partnered with TDS Vaults to offer storage services to cater to the latter group.
TDS Vaults is a global storage provider with facilities in Toronto, Las Vegas, Singapore and Zurich. Customers who wish to store their precious metals in a secure and monitored environment can sign up for an account with TDS Vaults.
Once the account is set up, customers can choose their preferred vault location from the available options.
When purchasing from JM Bullion, customers can select the option for their new items to be delivered directly to their chosen TDS Vaults storage location. This ensures a seamless order completion process and the precious metals are safely transferred to the designated storage facility.
TDS Vaults offers two-tiered insurance coverage to provide customers with peace of mind. The facility purchases insurance coverage for the stored valuables, providing an added layer of protection.
Additionally, TDS Vaults provides all-risk coverage, further enhancing the security and safety of customers' stored precious metals.
Shipping of Precious Metals
After the payment has been cleared, JM Bullion typically processes and ships orders within three business days, every order placed with JM Bullion is fully insured during transit to ensure the shipment's safety. Shipping is carried out using trusted carriers such as UPS or the US Postal Service.
Customers can choose the shipping method that best suits their needs. For those who require expedited delivery, faster shipping methods are available at an additional cost. This allows customers to receive their purchases more quickly if time is of the essence.
JM Bullion provides flexibility in shipping arrangements. Customers can opt for drop Shipping or direct storage for personal storage. In the case of drop shipping, the order can be shipped directly to the customer's desired address.
Alternatively, customers can deliver their precious metals to a storage facility affiliated with JM Bullion, ensuring secure storage of their valuable assets.
Customer Support and Reviews
Providing exceptional customer support is crucial, especially in the precious metals market, where trust and reliability are paramount.
While JM Bullion has resolved numerous customer complaints and order concerns over the years, like any business, it is not immune to flaws. It is how a company addresses and rectifies mistakes that genuinely matters.
Customer feedback about JM Bullion varies, with positive and negative experiences reported. While some customers have raised concerns about unprofessionalism and perceived lack of responsibility, it is crucial to consider each review individually and weigh the overall sentiment.
It is worth noting that JM Bullion has received overwhelmingly positive reviews on various review platforms, highlighting the satisfaction of many customers.
Regarding customer support, JM Bullion is committed to listening to customers and addressing their concerns. The Better Business Bureau (BBB) page for JM Bullion provides insights into the company's interactions with customers and showcases its dedication to resolving issues.
While businesses can manipulate their image, the BBB is an established organization that strives to maintain credibility. JM Bullion's A+ rating from the BBB indicates that the company has been consistently recognized as one of the leading gold merchants regarding customer service and satisfaction.
Advantages and Disadvantages of JM Bullion
Advantages
Disadvantages
Should You Invest with JM Bullion?
Investing with JM Bullion can be a viable option for individuals purchasing precious metals, particularly gold, for investment purposes. Here are some key points to consider:
New account opportunities: JM Bullion collaborates with other companies to offer services beyond what it directly provides. This includes assisting individuals in creating new gold IRA accounts, which can be attractive for those looking to have gold as part of their retirement portfolio.
Military discount: JM Bullion offers a special deal for all current and former armed forces members. Eligible individuals can use discounted prices on qualifying items by providing an army ID. This demonstrates the company's support for the military community.
Competitive pricing: JM Bullion has gained positive feedback from customers for its reasonable prices and commitment to avoiding markups and fees often found with other companies. The company employs a live pricing model, ensuring transparent and up-to-date pricing information.
Payment options: JM Bullion offers various payment options, including checks or direct bank transfers, which can provide a 4% discount compared to alternative payment methods. This allows customers to save on their purchases.
Real-time pricing and price lock: JM Bullion provides live pricing on its precious metals, allowing customers to monitor prices and choose the optimal moment to buy or sell. The company also offers a price lock feature, guaranteeing the final price ten minutes after payment to account for market volatility.
Final Thoughts
In conclusion, JM Bullion is a reputable and reliable option for buying gold bullion and considering a gold IRA. While they do not directly open gold IRA accounts, they provide a wide range of precious metals for purchase. They can guide you in selecting a trustworthy storage facility for your investments.
JM Bullion stands out for its commitment to transparent and straightforward transactions, competitive pricing and attentive customer service. Their partnership with trusted storage providers ensures that your precious metals are securely stored.
As a buyer, carefully considering your options and comparing different gold IRA providers is essential. JM Bullion has established itself as a trusted player in the industry, offering a comprehensive range of products and services to meet the needs of investors.
JM Bullion is a reliable choice if you are interested in gold and need guidance on where to start. This article has provided an in-depth analysis of JM Bullion, including its advantages, disadvantages, product offerings and customer service.
However, exploring multiple options and conducting thorough research is always recommended to find the best gold IRA provider that aligns with your investment goals.
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Before you are making an investment, make sure that you are choosing a trusted company to help you with your investment.
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