Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear below.
In the ever-evolving world of precious metal investments, choosing the right dealer can make all the difference between a profitable venture and a regrettable decision.
APMEX and JM Bullion are two of the most renowned names in the industry, each boasting a loyal customer base and a wide range of products.
But when it comes down to your hard-earned money, which one truly stands out?
In this detailed comparison, we look into the strengths and weaknesses of both APMEX and JM Bullion, providing you with the insights needed to make an informed decision.
Whether you're a seasoned investor or just starting your journey into precious metals, this article will guide you through everything you need to know.
So, sit back, relax, and let's explore the world of APMEX vs. JM Bullion together.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Or
Get a FREE Gold Information Kit from our #1 recommendation, by clicking the button below:
Protect Your Savings - Tax and Penalty Free!
Each of these precious metals companies has a steady client base, but there are differences in how they operate and what you can expect from them. Buying precious metals allows you to diversify your portfolio and avoid risky investments.
In addition, precious metals aren’t impacted by the US dollar or inflation. Please review all details about these two organizations before you purchase precious metals or set up a gold IRA with their products.
Company History and Reputation
JM Bullion started in 2011 selling precious metals exclusively online, and you must review their inventory on their website.
The company was accredited by the Better Business Bureau in 2014, and they have an A+ rating.
JM Bullion has received 4.58 stars on the BBB based on almost 800 customer reviews. However, JM Bullion had 248 customer complaints in the last three years, with 58 complaints over the previous 12 months.
Apmex was established in 2000, and they have many locations in Oklahoma. The company started as a one-person organization with a limited inventory.
Since its inception, Apmex has established itself in Oklahoma and online. The business has been accredited with the BBB since 2004 with 4.03 stars, according to their client reviews.
As of 2023, there were 98 complaints against the organization. Their customers aren’t limited to buying gold and other precious metals online only; clients can come to the location and review the current inventory before deciding.
Precious Metals Inventory
JM Bullion and Apmex offer gold, silver, palladium, and platinum. They have coins and bars from which to choose, and the companies provide rare or specialty products. You can review their websites to compare their products.
Apmex
Apmex’s inventory includes gold and silver American Eagles, Buffalos, Pre-1933 US gold, Perth bars, Swans, and Kangaroos. Royal Mint products include Britannia, Queens Beast, Royal Tudor Beasts, and Royal Canadian Maples Leafs.
You can also get Mexican Libertads and pesos. In addition, Apmex offers platinum and palladium, including Philharmonics, Chinese Pandas, Isle of Man, American Eagles, and Royal Canadian Mint.
To learn more read our APMEX review.
JM Bullion
JM Bullion offers gold coins ranging from one-tenth of an ounce to one ounce. They have Gold Eagles, Buffalos, and Commemoratives. In addition, they sell Canadian gold Maple Leafs, Gold Britannia, British gold Tudor Beasts, Perth Lunar and Kangaroos, and Somalian gold Elephants.
They also offer silver, including American Eagles, Canadian Silver Maple Leaf, Perth silver kookaburras, High Relief, and Kangaroos.
JM Bullion offers platinum coins and bars, including American, British, Canadian, and Somalian. All products are shown on the website, and you can zoom in on the images to get a better view.
To learn more read our JM Bullion review.
To buy precious metals from JM Bullion:
In addition, you can get insurance for your shipment through the gold seller. Apmex has two options for buying precious metals.
You can go to one of their locations and purchase precious metals in person or buy them online. You should set up a user account through their website even if you purchase your metals in person.
If you have a user account, it’s easier to set up a buyback online and select the products you want to sell back to them. A user account could help you track your shipment, too.
Are Rare Coins Available?
JM Bullion doesn’t provide rare coins, but you can find them at Apmex. You will discover Liberty Eagles, Gold Princess, Indian Half Eagles, Morgan silver dollars, Eisenhowers, and Peace silver dollars.
In addition, they sell SBA Sacagwea Presidential coins, including half dollars, quarters, dimes, and nickels. You could also buy $1,000 and $500 Federal Reserve Notes.
Opening a Gold IRA
A gold IRA offers a secure way to save money for retirement, and you could transfer money from an existing IRA into this new plan. Setting up a gold IRA requires hiring a custodian approved by the IRS.
Your custodian contacts your existing IRA provider to initiate the transfer. You cannot transfer the money on your own, and the money doesn’t go to you directly. Instead, the custodian completes all documents for the IRA and prepares for your gold purchase.
JM Bullion
JM Bullion helps with gold IRAs. To start, click on their “IRA” tab and follow the instructions. Apmex doesn’t offer a gold IRA program but sells gold IRA-approved products. If you initiate a gold IRA through JM Bullion, your custodian must discuss it with them to manage the IRA, the gold purchase, and shipping the gold to the depository.
Apmex
Apmex can present approved products to you, and you and your custodian only arrange the purchase and shipment. JM Bullion has a preferred depository, but you aren’t required to store your precious metals with them.
Unlike outright purchasing gold or precious metals, the gold IRA prevents you from keeping gold at home. While you have control over your IRA, you must contact your custodian to add more precious metals or to liquidate the account.
Before you buy precious metals, compare the rates for setting up the gold IRA. Since JM Bullion has a program for the IRA, you could face some fees for the services. Your custodian can discuss costs with the gold company.
Fees
Remember that you’ll also pay fees for custodian services, IRA maintenance, and storing your metals at a depository. These fees vary by who you hire and how often you add more precious metals or additional assets to your IRA.
If you are under 59, you can contribute up to $6,000 in gold into your IRA, but if you are 59 or older, your contributions increase to $7,000. After setting up a gold IRA, you can add other precious metals each year, but your total contribution cannot exceed these limits.
Your contributions can come from an existing IRA, or you can use your separate funds to purchase metals and add them to the IRA. If you establish a gold IRA with existing funds, you cannot use any funds for anything other than the IRA. You cannot pay for any services out of the money.
Once you start with the IRA, understand that you have 60 days to get the funds from one IRA to the other before there are tax penalties.
The IRS takes the money from these retirement funds if you face tax penalties. When hiring a custodian for your IRS, do your due diligence to avoid hiring someone who will delay these transactions and cost you more.
Apmex and JM Bullion can help you review precious metals to avoid IRS issues. If you are unsure about any precious metals you want to buy for your IRA, ask your custodian before your purchase.
Protecting Your IRA for Your Heirs
There are several ways to ensure that your heirs get your IRA if you don’t use all the funds. First, regardless of what gold company you choose, you should set up an estate plan to determine who receives distributions from the IRA after you die. Setting up a trust could separate the IRA from your estate and keep it out of probate.
Setting up conditions with your custodian could help you roll your gold IRA into an inherited IRA. First, however, remind your heirs that it is liquidated if they do not receive any distributions from the IRA within five years. If it is liquidated, your will must specify who receives it.
Are There Any Deals?
Customers can find deals on precious metals through JM Bullion and Apmex. On JM Bullion, click the “On Sale” tab and review prices for precious metals products and reduced costs. On Apmex, click on the “Deals” tab to check their current offers for bullion and bars.
As of 2023, JM Bullion had sales on two-ounce Shield of Henry II de France silver stackers, five-gram Valcambi gold bars, and one-half once Sunshine silver rounds. In addition, Apmex has offered one-gram gold bars, one-kilo silver bars, and Mexico one-ounce silver Libertad bullion.
Selling Your Precious Metals
Both Apmex and JM Bullion have a buyback opportunity for gold owners. To sell your gold to Apmex, go to their “Sell Your Gold to Us” tab and click the “Requesting a Quote” button.
You can complete a web form and list the gold products you want to sell to them, or you can call the toll-free customer service number to discuss your buyback with a representative.
Once you get and accept your quote, you must package your gold and send it to Apmex via UPS. They have a contract with UPS to reduce rates, but you incur all the costs for the shipment.
Once they receive your shipment and verify all gold products and their condition, you will receive your payment in one business day.
When selling to JM Bullion, sign in to your user account. Click on the “Sell to US” tab. Please select all the gold products shown in your user account that you wish to sell back to them.
Contact them directly if you’re having trouble finding gold products in your user account. Complete the checkout process to get a price lock for your buyback.
JM Bullion emails instructions to you and explains how to ship the gold to them. Once they receive your gold, the company inspects it for quality and imperfections. Provided there aren’t issues with your gold, you receive your payment according to your preferences.
Remember to check the current gold prices before accepting any offer to ensure you get the best price for your precious metals. Both gold companies have spot features that list prices, but checking for yourself could prevent financial mistakes.
Taking Out Loans
Although Apmex doesn’t offer loans, JM Bullion does. JM Bullion partnered with Collateral Finance Corporation to extend gold and silver loans to their clients. The customer’s gold or silver is used as collateral for the loan, and the company offers loans from $25,000 to over $5 million.
The loans are based on an installment plan, and you’ll make monthly payments to JM Bullion. You must submit timely payments to avoid late fees and additional service charges.
Since your precious metals are used as collateral, the loan provider can seize your precious metals if you default on the loan. Read through all the fine print before you accept any loan or use your gold as collateral.
To apply for a loan through JM Bullion, go to their “Loans” tab and click the “Apply Online” button toward the lower section of the page.
You’ll complete a short webform to enter personal details about yourself and your precious metals. There isn’t a credit check to establish eligibility, and an answer takes about one business day.
Once approved, a customer service representative contacts you to discuss the interest rates and available loan amount.
There are restrictions on loans as they are available for commercial use only. Check your state laws and determine if gold loan state-related restrictions exist before applying.
Final Thoughts
Investing in gold increases your portfolio’s value and offers diversification. Adding more precious metals improves the overall value and gives you a backup for retirement.
You can use funds from an existing IRA to set up a gold IRA through most gold companies, but you must choose a credible seller to avoid mistakes. After comparing Apmex and JM Bullion, each organization seems fine, but you may want to look elsewhere if they don’t meet all your requirements.
Remember to read our list of the Top Gold Companies.
>> Click HERE to read our Best Precious Metals IRA Companies list <<
Or
Get a FREE Silver & Gold Information Kit from our #1 recommendation, by clicking the button below:
At Digital Financing Task Force, we provide research and analysis for people that want to take control of their financial future and protect the savings that they have.
