JM Bullion Review
Over the past decade or so, due in large part to the volatile stock market – as well as the historically low interest rate environment – investors have been looking for alternative methods of maximizing their investment funds, yet without having to place their retirement money at a high amount of risk.
One strategy that many have turned to is precious metals. This is because investing in gold, silver, and other precious metals can allow the opportunity for steady growth, along with the ability to outpace inflation, but without the substantial ups and downs that funds in the stock market are exposed to. Going this route in an IRA account can provide investors an additional advantage of tax-deferred growth.
While precious metals IRA investing can offer some great benefits, prior to moving forward with this type of investment, it is essential to ensure that the underlying metals company has a positive reputation in the industry, and that it also offers a nice selection of products so that the account can be well diversified. One of the companies that fits into the category is JM Bullion.
JM Bullion is a relatively new company is the gold and precious metals industry. It was initially founded in 2011. However, since that time, it has built up a very large following of investors. The company is headquartered in Dallas, Texas.
Products Offered Through JM Bullion
JM Bullion offers a variety of different metals products – so it can provide investors with a great way to diversify their accounts. Products include gold, silver, platinum, palladium, and copper – and they also include a number of metals that are allowed to be placed in precious metals IRAs (Individual Retirement Accounts).
Some of the top products in each of these metals categories include:
Gold: JM Bullion offers a number of gold products to choose from, including gold bars and coins, and pre-1933 coins, certified gold coins, and IRA-eligible coins;
Silver: The company also offers a number of silver products, such as certified silver coins, silver bars, and silver bullets, as well as coins, rounds, 90% and 40% silver coins, and IRA-eligible silver;
Platinum: Investors can also choose from a wide selection of platinum bars, coins, and IRA-eligible platinum;
Palladium: Palladium bars and coins can also be purchased via JM Bullion;
Copper: There are also a number of copper rounds, bars, and bullets to choose from.
In addition to actual metals, JM Bullion also offers a number of accessories for investors, such as display cases, protective holders, tubes, and more. These can help investors in protecting and displaying their metals throughout the years.
Precious Metals Storage and Delivery
While clients have the opportunity to hold their metals on their own or in a safe deposit box at a bank, JM Bullion offers metals storage via TDS Vaults, a leading provider of precious metals storage and security.
If an investor wants to use this option, they must first open an account with TDS Vaults. This can be done over the phone or via email. Online applications can be downloaded via the JM Bullion website.
The storage company has locations in several different areas – which includes multiple countries around the world – such as Los Angeles and New York in the U.S., as well as in Singapore, Zurich, and Toronto. After an account with TDS has been opened and the storage location has been chosen, an investor can then move forward with their metals purchase, coordinating the shipment to their vault account through JM Bullion.
The cost of this type of metals storage is divided into two components. The first charge is a flat fee that covers the handling cost of either depositing or withdrawing metals to or from the account. The other is the fee for the managing and the insurance of the metals that are within the account. Charges are based upon the type and the quantity of metals being stored, as well as the total value of the metals.
One of the key benefits that JM Bullion is known for is the fact that there are never any sales taxes or shipping charges that are applied to investors’ orders. It is important to note, however, that the company will ship only to U.S. addresses.
Opening a Precious Metals IRA Account
Opening a precious metals IRA through JM Bullion is an fairly easy process. It takes just three steps. The first is to open a self-directed IRA account itself. It is recommended that investors do this through one of the company’s preferred IRA custodians. These recommended custodians are listed on the JM Bullion website. They include:
New Direction IRA, Inc.
Self Directed IRA Services
Once the IRA account has been opened, the next step is to fund it. This can be done by either wiring or transferring money into the account. New money can be deposited into the account – up to the annual maximum contribution amount each year. Also, funds from an existing IRA account and / or a 401(k) plan may be rolled over into the account.
After the IRA account has been funded, metals can then be purchased. Investors who have a precious metals IRA are able to place certain metals that have been approved for these types of accounts into the IRA. For additional assistance, the JM Bullion customer service reps can walk you through the process.
Customer Service at JM Bullion
Investors and potential customers of JM Bullion can reach customer service reps to ask questions about opening an account, as well as to discuss which metals may be best for their particular goals. Reps can be reached via email and chat online, as well as through a toll-free phone line.
The customer service representatives at JM Bullion can be reached live during business hours. These are between 7:00 a.m. and 8:00 p.m. Monday through Friday, and 9:00 a.m. to 1:00 p.m. on Saturday, Central time. The company prides itself on its impeccable customer service – as most of its inbound phone calls are answered within 20 seconds or less.
In exchange for providing their email address, the visitors to the JM Bullion website can receive a free ebook titled, “The Beginner’s Guide to Bullion Investing.” This book can help investors to get a better idea of how to best navigate the precious metals market, as well as to determine which type of metals may be best for their particular goals and needs.
Company Ratings and Grades
JM Bullion is highly rated in the industry. The company has been accredited with the Better Business Bureau since July 14, 2014, and it has been given a grade of A+ (on an overall grading scale of A+ through F) by the BBB.
Over the past three years, JM Bullion has closed out 98 total complaints through the BBB. Of these 98 complaints, 62 have had to do with the company’s products and / or service, 15 had to do with delivery issues, 12 were related to advertising and / or sales issues, 8 were in relation to billing and / or collection issues, and one was in regard to guarantee / warranty issues.
JM Bullion is also affiliated with TrustLink. However, as of this time, there are no reviews, as well as no complaints. There are also currently no complaints filed as of now via the Business Consumer Alliance.
The Bottom Line
JM Bullion has a focus on offering a wide selection of precious metals products. The company is known for offering free shipping on its products to all U.S. addresses. It also does not charge sales tax in any state.
While JM Bullion is a relatively new company in the precious metals sales industry, it is highly rated by the Better Business Bureau, and it has racked up numerous positive reviews from past and current customers. Given that, it could be a good option for investors who are seeking a place to invest their self-directed IRA funds.