This is a JM Bullion review. We will look at different things. What is JM Bullion?IRAs? Scam or a legit gold dealer? How about the reviews and complaints about the company online? Are there better alternatives out there? These are some of the main questions this review will focus on.
Company: JM Bullion
Owner: Mike Wittmeyer
Price: Depends on the size of your investment
Who is it for? Precious metals investors
Overall rating: (4 / 5)
Essential to mention (before we go into more details of this review)
We strongly recommend doing your research online before choosing a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate thoroughly and compare different alternatives before you make your decision.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, the #1 Recommended Gold & Silver IRA Dealer on our top-5 list got No-salesy representatives… So they won´t bother or terrorize you with phone calls.
You are an intelligent person, so I am sure that you understand the benefits of dealing with such a company instead, right?
+They got a couple more benefits you might appreciate as much as I do. You will understand yourself once you have visited the page (link) above.
==> See our Top-5 List of Precious Metals IRA Companies on this page <==
With that being said, let´s continue with the review on JM Bullion!
What is JM Bullion about?
JM Bullion is a precious metal online dealer. The company was founded in 2011 by its owner Mike Wittmeyer and has grown bigger and bigger ever since.
The company’s physical address is 1813 Olde Homestead Ln, Lancaster, PA 17601, USA.
How does it work?
In short, this is a place where you can either buy or sell precious metals. They also offer other related services (see further down).
The products offered are primarily coins and bars in the form of gold and silver. Below are the metals provided by the company:
JM Bullion is not listed as a dealer of the U.S. Mint.
JM Bullion Gold IRA?
Yes, JM Bullion got precious metals IRA services.
The company does not offer IRAs directly, but you can get them through their partner IRA custodians:
This makes it hard to understand what kind of fees are associated with setting an IRA up with JM, as the fees will depend on the particular custodian they connect you with.
Important to mention here: As most scams and ripoffs in this industry are related to so-called “hidden fees,” it is highly recommended that you have a crystal clear idea of what fees you need to pay.
Transparency is what you want to look for in a company.
Can you get the gold (and other metals) delivered to your home?
Yes, you can. One thing that stands out here is that they offer free shipping regardless of your investment amount. Below is an exact excerpt from their website on the subject of shipping:
Please Note: All orders over $1000 will be shipped “Signature Required” at no additional charge (orders less than $1000 are sent without signature required unless you upgrade your shipping option at checkout).
Can you store your investment with the company?
No, you can not.
This came as a surprise as most of its competitors offer storage options for you within their services.
**In particular I find it strange as you can not store IRA gold at home as it simply isn´t allowed.
Can you sell back to the company?
Yes, you can.
Below is an exact excerpt from their website on this subject:
The process is quick and simple and can be completed over the phone in minutes. Please call our toll-free number below for current prices on nearly any precious metals product. The selling process is easy and efficient, and we offer the highest buyback prices in the industry. Please view the three easy steps below, and note that our minimum purchase is $1,000. Please note that all final buyback prices must be confirmed over the phone. Any pricing indications are subject to change due to market fluctuations.
All precious metals tendered for sale are authenticated using proprietary non-invasive methods for everyone’s protection. Anything that is deemed inauthentic will be destroyed. Attempting to sell counterfeit products will result in notifying authorities.
Can anybody in any country use the service?
No, the assistance from the company is for citizens living in the U.S. only.
Is JM Bullion a Scam?
So, is JM Bullion a scam? No, it is not a scam. Of course not. It is a legit company with an actual owner and an actual physical address. It would also never have survived this long (since 2011) if it wasn´t conducting legit business, right?
However, if they are your best option to go with your money to invest in precious metals is another story… That leads us to, what the most well-known and trusted, independent third party consumer protection agencies have to say:
JM Bullion reviews & complaints
BBB (Better Business Bureau)
Rating: A+ (from 239 complaints?!!) click here for details (opens in new window)
Overall rating: (4.4 / 5) (out of 896 reviews) Click here for details (opens in new window)
BCA (Business Consumer Alliance)
Rating: (5 / 5) (from 1 review) click here for details (opens in new window)
Overall rating: N/A
Overall rating: (3 / 5) (from 6 reviews) click here for details (opens in new window)
The conclusion from these reviews?
The consumer protection agency that I normally put the most weight on when it comes to overall ratings is Trustpilot. JM Bullion have a good amount of reviews there, and overall they are positive, so that is a big plus. On the BBB website you can see that they got an A+ rating (the highest possible) but there is an insane amount of complaints there, to be honest I have never seen that many complaints on any BBB company profile. So that was a bit weird, however, even mother Theresa had haters…
Overall I would say that JM Bullion have great ratings, and I would call them among the best gold dealers in the country, however, they do not make it to our top-5 list, eventhough it is close.
How´s the support?
One thing that I always put a lot of importance on when it comes to the quality of the support system of a company is if they got a live chat function on their website or not.
JM Bullion does not have this.
They provide the “mandatory” e-mail address and phone number to contact them with your questions.
Pros and Cons
One thing that is smart to do if you want to get a better overall picture of a company is to compare its positive sides against its negative ones. Below I have highlighted some obvious points to make this job easier for you:
- A broad range of products offered
- FREE shipping on all orders
- Good amount of positive reviews online
- Not that many years in business
- HUGE amount of complaints
- Not listed as a US Mint dealer
- The website lacks support and some info, for example, about IRA fees.
Do You Own or Represent JM Bullion?
If you are a representative or associate of JM Bullion and have found something not to be correct in this review, please, feel free to tell, and I will make sure to update the info on this post. The easiest way to do it is in the comment section below, or simply by sending us an e-mail; firstname.lastname@example.org
Final Words and Verdict on JM Bullion
Overall rating: (4 / 5)
Okay, I think this sums up the company’s overall picture pretty well. It is a legit company, yes.
However, there are some pretty serious complaints about them online, as mentioned above and in the same time a great amount of positive ones as well. Their website offers IRAs through their partners, making it hard to know what that would cost you in fees.
They are not listed as a US Mint dealer, the website lack support…
It is hard to give a higher rating than 4 out of 5 stars.
At least for now, and it feels fair.
It can change to a higher or lower one in the future as the reviews on this website are getting updated as soon as some “news” on a company comes up.
You have made a wise choice reading this review, and you are an intelligent person. It is always recommended that you research and compare many different companies against each other before making an educated decision.
I am sure that you will find an IRA custodian that is right for you as you clearly (as you have read this far) understand this concept.
Which company do we recommend?
If you are looking for a reputable gold investment company besides any other firm, you should check out GoldCo.
They have ZERO complaints from A LOT of real users. They are used by conservative legends respected by well-known publications and websites.
And A LOT more benefits!
I hope you found this short review on JM Bullion to be helpful, and now you might have a better overall picture of what it is and if it is a scam or not, and importantly, will it be something for you after reading some of the reviews and complaints? If you have used any of its services, please share your experience with us in the comment section below, as it can help others. Also, if you got any other questions on this review, I will be more than happy to answer them below.
I wish you the best!
Founder of: Gold Retired