JM Bullion Review: How Does This Gold Investment Company Stack Up?

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When you work with JM Bullion, you'll have access to both international and domestic bullion, many different types of coins, and other precious metals that are approved by the IRA.

The company has competitive pricing and even offers quantity discounts to clients. Furthermore, the company works alongside some of the most respected distributors and mints.

They take the time to inspect all inventory before it is sold to ensure the best possible quality.

Before we get started with this review:

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Now back to the review.

About JM Bullion


JM Bullion keeps a large amount of inventory on hand, so that orders of any size can be fulfilled quickly. Military discounts are an option, and there are also solutions for bullion storage.

JM Bullion is based in Texas and has an impressive selection of precious metals to choose from. A lack of commissions helps to keep prices low, and live pricing is available.

With that said, there are better options available if you're interested in numismatic coins.

The company primarily focuses on purchasing and selling physical bullion, such as:

  • Gold: European gold bullion, gold bars, American Eagles, and Canadian Maples are all available.
  • Silver: You can choose from bars, coins, bullets, statues, and rounds.
  • Platinum: Both platinum coins and bars are available.
  • Copper: Single-ounce bars, wheat pennies, rounds, and bullets can all be purchased.
  • Palladium: Options include Canadian Maples, American Eagles, PAMP Suisse Fortuna bars (one gram), and Credit Suisse bars (one ounce.)

Why Put Gold in Your IRA?


Individual Retirement Accounts (IRA) protect your retirement as well as your family's financial security.

These special accounts allow you to set aside tax protected savings that you can use in the future.   

With these long term accounts it's important to allocate a significant portion to assets that are solid and reliable, so you have a secure future. 

a couple listening to a financial advisor

You can have cash in an IRA, but that is devaluing at a rapid pace and inflation is out of control

You need an asset that's reliable, retains it's value, and even increases in value over time, and there is no better asset for this than gold. 

With the world's economy struggling through lockdowns, shortages, wars, and inflation, uncertainty has never been higher and investors are protecting themselves by placing physical gold in IRA's. 

A gold IRA investment prospers from these crisis that negatively affect most other assets. 

Risk is knowing the economic dangers and doing nothing to protect yourself and your family. 

Safety is knowing the economic dangers and taking action to protect your financial future, and this easy to do with a Gold IRA.

How Do You Buy from JM Bullion?


homepage of jm bullion

You can find the bullion available from JM Bullion listed in tabs across the company's site. If you'd like to make a purchase, just follow these steps:

  • Select a product and click "add to card"
  • Specify how the number of bullion you plan on purchasing
  • Visit the checkout page
  • Provide your payment information
  • Decide on the shipping method you prefer

To finish the checkout process, new customers must provide both their contact and shipping information.

How Does JM Bullion Report Purchases?


Not all precious metal purchases at JM Bullion are reported to the IRS. Still, the company is fully compliant with all laws that require the purchase and sale of precious males to be reported.

In the majority of cases, the regulations involving reporting have to do with the form of payment and the total investments.

When necessary, JM Bullion will file the IRS Form 8300 and IRS Form 1099-B forms. Form 8300 reports cash transactions above $10,000 and certain dealer customer sales.

This applies to single transactions, but it could also apply if several purchases are made in a single day. Form 1099-B reports profits earned by sellers that are not corporate affiliated.

Are Returns an Option?


JM Bullion allows items to be returned or exchanged in the first five days following delivery. In some cases, it may be necessary to provide a photo of the item being returned.

You can start the return process by reaching out to the company's customer service department.

After the return has been authorized, it can be shipped back to JM Bullion. The cost of the return will not be covered, and in some cases, you may have to cover market losses.

JM Bullion's buyback program isn't determined by the rate you paid. Instead, it's set by the current spot price. You could gain or lose money when you return bullion depending on the state of the market.

What Payment Methods Are Accepted?


Several different payment methods are supported by JM Bullion, including:

  • ACH Transfer: You can use this to pay for orders of $25,000 or less. Prices will be 4% less than they would with a credit card or PayPal.
  • Cryptocurrency: Bitcoin and Bitcoin Cash are both accepted, as is Ethereum. It can be used for purchases of $150,000 or less. Prices are 3% less than they would be for purchases made with credit cards or PayPal.
  • Check: You can use a paper check to pay for orders of $50,000 or less. The price will be 4% less than it would be with a credit card or PayPal.
  • Credit and debit cards: Visa, Mastercard, Discover, and American Express are all accepted. It can be used for purchases of $5,000 or less.
  • PayPal: This payment method can be used for orders of $10,000 or less.
  • Wire transfer: This payment method can be used for orders above $2,500 and below $250,000. Prices will be 4% less than they would with a credit card or PayPal.

What Do Shipping and Insurance Cost?


None of the precious metals purchased are stored by JM Bullion. Because of that, orders must be shipped to the buyer or the buyer's agent. Many clients choose to ship purchases to vault storage companies.

JM Bullion has a partnership with a storage facility, making it easy for clients to have their purchases shipped straight to storage.

In the majority of cases, orders are shipped through UPS or USPS. With that said, there are certain types of orders that might need a different shipping solution.

Basic shipping and insurance are included in the cost of purchase, and various upgrades are available.

How Can You Sell to JM Bullion?


JM Bullion only purchases precious metals for $1,000 or more. If you want to sell, you'll need to go through these steps:

  • Check the buyback prices on JM Bullion's site.
  • Between 8 am and 6 pm on weekdays, call JM Bullion at 844-258-2538. This will allow you to finalize your sale.
  • Wait for an email from JM Bullion that includes both mailing instructions and a printable insured shipping label.
  • After JM Bullion has received your package and accepted it, you can receive your payment via ACH transfer, check, or wire transfer. Your payment will be sent out in 1-3 business days.

Does JM Bullion Have Reasonable Pricing?


The rates at JM Bullion are in line with the competition. Since no service fees or commissions need to be paid, their prices may wind up being more affordable.

 JM Bullion's Buy Prices

Earlier this year, the buy price for a single-ounce gold American Eagle coin that hadn't been circulated was $2,027.84. That's higher than Golden Eagle, which had a buy price of $2,026.70, and Money Metal, whose buy price was $1,998.20.

JM Bullion's Sell Prices

Sell prices for an uncirculated single-ounce gold American Eagle coin was $1,917.18. This is more than both Money Metals and Golden Eagles.

Is JM Bullion a Reliable Company?


This Dallas-based company got its start in 2021. JM Bullion has an A+ Better Business Bureau rating, and no one has registered a complaint against the company with the Consumer Financial Protection Bureau.

Will Your Money Be Secure With JM Bullion?


JM Bullion uses CyberSource, a payment gateway that's PCI-compliant, for all sensitive banking data. Furthermore, the company utilizes DigiCert certified 256-bit SSL encryption.

All outgoing shipments are fully insured and shipped discreetly.

What Are the Drawbacks to Working With JM Bullion?


1. They Don't Offer Storage Services

It can be helpful when a precious metals investment company offers clients a safe storage solution. Since JM Bullion doesn't offer storage, investors will need to find a place vault storage company to store their purchases.

2. They're Not a Listed U.S. Mint Dealer

When evaluating an investment company, it's important to confirm that the company is an ICTA member and a listed U.S. Mint dealer. Since JM Bullion is not currently a listed dealer, some investors may see the company as less credible than others.

3. JM Bullion Isn't TRUSTe Verified

TRUSTe verification can give you security when you purchase precious metals online. Unfortunately, JM Bullion doesn't offer clients this protection.

Frequently Asked Questions


Are Purchases Through JM Bullion Reported to the Government?

JM Bullion is fully compliant with all laws that require purchases to be reported. When it's not legally required, purchases and sales aren't reported.

Is There a Sales Tax On Precious Metals?

Sales tax is not collected by JM Bullion. With that said, depending on the state that you're in, you may need to self-report your purchases and pay sales tax. Find out what the laws on bullion purchases are in your state.

Does JM Bullion Offer Precious Metal Storage?

No precious metals purchased by clients are stored by JM Bullion. With that said, the company has a partnership with TDS Vaults. Customers that contract with TDS Vaults can have JM Bullion purchases shipped directly to their vault account.

Fees for vault services are not included in JM Bullion's prices.

Can I Use Cryptocurrency for My Purchases?

JM Bullion accepts Bitcoin for purchases of $250,000 or less. Large purchases will need to be finalized over the phone.

Pros and Cons of JM Bullion


Pros

  • There aren't any service charges
  • There's a large selection available
  • They use live pricing
  • The site has a lock-in feature

Cons

  • Some products have quality issues
  • The company can be slow to respond to complaints from customers

Conclusion

Although JM Bullion has fair and current prices, other factors may keep investors from wanting to work with the company. Very few details about the company are available, which can make the company difficult to trust.

On top of that, the company is not accredited by either TrustLink or BCA. Because of this, some customers may choose to work with a more reputable investment company.

JM Bullion is an ok company, but they are not the best in our opinion, there are much better options for investors.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation by clicking the link above or you can read our article of the top companies we reviewed this year:

>> CLICK HERE to read our list of the top gold investment companies. <<

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