JMBullion.com Review
JM Bullion was launched in late 2011 by two entrepreneurs, Michael and Jonathan, who truly have a passion for the precious metals market. While the (retail) precious metal market is far from an untapped niche, they noticed that there were needs that other metal retailers didn’t meet, such as a user-friendly website, dedicated support and investor friendly features like their (soon to be available) Automatic Investment Program. Things that matter to consumers when shopping online, especially for something as expensive as gold and silver.
Based on my experience with JM Bullion they certainly have the user-friendly website and dedicated support down. If the present is any indication of what’s to come in the future, then I have no doubt that they’ll continue to meet the needs of precious metal buyers, and then some, as they continue to expand throughout the rest of the year.
Buying From JM Bullion: What Products Do They Carry?
All of JM Bullion’s products come directly from mints and distributors. This is to ensure that all of their metals are authentic.
As of right now JM Bullion carries gold bars in sizes of 1 and 10 grams, as well as 1 ounce. They carry 1/10 ounce and 1oz American Eagle coins. Their silver inventory consists of 5, 10 and 100 ounce bars, 1 ounce rounds and 1, 20, 25 and 500 coin sets of American Eagles and Maple Leaves.
Truth be told, their inventory is on the shallow side compared to other retailers. They offer the bare essentials. However, they offer all the most popular forms of bullion in North America. Unless you’re an avid coin collector who wants to acquire coins from different countries, then the offerings at the JMBullion website will be more than enough.
What’s more I know they have plans to expand their product line in 2012 to also include Panda, Libertad and Krugerand coins, as well as “junk silver” coin bags. Older coins, of varied condition, will also be added.
I also asked about collectible coins, because as a buyer myself I prefer coins with designs and/or some uniqueness to them. I’ve been told that it’s definitely a part of the game plan at JM Bullion, but they’ll be added to the inventory much further down the line because it’ll require outside help (due to the uniqueness of the coins) to setup properly.
How JM Bullion Handles Shipping
The one thing that stood out for me when I asked about JM Bullion is that there is no minimum order. In Mike’s own words, no customer is too small for our time. Other than that being a fantastic approach to running a business, I appreciate this because not everyone can afford to spend $500, much less thousands of dollars to start their precious metal portfolios.
For all orders under $500 the cost of shipping in the US is $10, or $25 if you’d like to have your purchase shipped overnight. Orders of $500 or more are shipped free, and all orders will be tracked and insured.
JM Bullion does ship worldwide, however, the minimum order is $5,000 and the only accepted payment method is by bank wire. Part of their plan for 2012 is to relax these terms so that they can accept smaller orders, as well as different payment options.
The timeframe for how quickly you’ll receive your metal will depend on how fast JM Bullion receives them from the mints and distributors. Orders are expected to be filled within a months time, but based on the happy feedback from their customers, orders are filled much faster — usually a few days to a couple weeks. Mike and Jon fill all the orders themselves, so you can be at ease knowing that the shipping is done as fast and securely as possible.
Payment Options That JM Bullion Accepts
Purchases can be made with a credit card, bank wire or check. You should keep in mind that checks need 10 days to clear, and that checks and bank wires require a 5% down payment by credit.
You’ll notice that the prices for gold and silver are higher when paid by credit card, but this is to offset the costs of accepting credit cards (transaction fees).
JM Bullion Support
You can contact JM Bullion via email, phone and live chat. Mike and Jon handle 100% of the support, and they want to help everyone, big or small, with their investments. So don’t hesitate to contact them if you have any questions.
I decided to try the live chat feature, which was before I realized that Mike and Jon handled all of the support requests. I asked a question regarding the price difference between the credit cards and bank wire/checks. Mike was available immediately, answered my question and was extremely friendly throughout the discussion.
The bottom line is that you can’t go wrong with a company whose owners don’t hide behind robots and service reps that transfer you from one person to the next. My only hope is that as they continue to grow as a company that they can continue to provide this high level of support.
The Future: What Lies in Store for JM Bullion?
I’ve mentioned a few times already that JM Bullion plans to expand their company in 2012 to provide new services and products. More specifically they will add:
• New products to their inventory including new coins, as well as coins of varied years and condition.
• Improved terms for international shipping, including a lower minimum purchase and more payment options.
• An Automatic Investment Program. This will give investors the opportunity to have their metals sent to them on a weekly, bi-monthly or monthly basis. They can dollar cost average their silver and gold investment, which is an excellent strategy for reducing risk.
• New website design. This will improve usability even more.
Overall Summary
The biggest question of course is, should you buy from JM Bullion? If you send your money to them, can you trust that you’ll receive authentic silver and gold in return?
Absolutely. Their growing list of happy customers tells you that. If that’s not enough, then consider that they only buy from mints and distributors, or that they handle all support and fill the orders themselves. Nowadays no company does that, especially the owners. These are just a few things, of many, that set JM Bullion apart from the other metal retailers. In my opinion that’s what makes buying from JM Bullion worthwhile.
