JM Bullion vs APMEX 2023
Physical gold is an alternative asset that many people wish to add to their portfolios. However, finding a reputable dealer locally isn’t an option for everyone, which is why many investors turn to an online gold dealer instead.
A respectable precious metal dealer offers much more than simple bullion. Many offer bars, coins, collectibles, and even gold IRAs! The exact offerings vary from dealer to dealer, which is why it’s important to do your research beforehand.
In this JM Bullion vs APMEX comparison, we’ll be taking a closer look at two well-known precious metals dealers. Comparing general pricing, services, storage options, and more, we’ll soon see which platform offers a superior service.
What is JM Bullion?
JM Bullion is an online precious metals dealer that offers a diverse selection of products, catering to both investors and collectors. Their extensive inventory includes gold, silver, platinum, palladium, and copper products from renowned mints around the globe.
What is APMEX?
APMEX is a leading online precious metals retailer with a product lineup that rivals, and in some areas, surpasses that of its competitors. While they offer standard bullion products like gold, silver, platinum, and palladium, they distinguish themselves with a broader selection of international coins and unique collectibles.
|JM Bullion is Better for:||APMEX is Better for:|
|United States-based buyers||Global buyers|
|Generally lower gold prices||Buying collectible coins|
|As a BBB-rated reputable dealer||Finding a wide variety of products|
The best online dealer for you will ultimately depend on your individual needs. Whereas some might be looking for a wide range of offerings, other investors may simply be searching for the lowest price. You’ll want to take these factors into consideration when comparing dealers.
It’s important to point out that both offerings and prices fluctuate due to market conditions (market demand and market losses).
|Products||Gold, silver, platinum, copper, and palladium||Gold, silver, platinum, copper, and palladium|
|Services||Buying, selling, and loans||Buying, selling, auto investing, storage, credit card, portfolio management|
|Shipping||Yes, but only in the U.S. and U.S. military boxes||Free on orders over $199|
|Minimum Order||Yes (applies to bank wire only)||None|
|Storage||Secure storage for orders over $3,000 (6 months free)||Yes|
|Fees||Shipping costs (for orders under $199), storage||$35 order cancellation fee, storage fee|
|Modest Money Overall Rating|
Factor 1: Precious Metals Offered
The first thing we’ll look at is the precious metal assets offered by each platform. They both offer physical gold (such as gold coins and bars), silver bullion, platinum, copper, and palladium. They even both offer gold IRAs!
Another similarity is that gold and silver prices are conveniently displayed on each website. This makes it easy to compare prices when shopping for gold coins or bars.
APMEX Offers a Slightly Wider Selection Overall
- APMEX has a wider variety of gold coins (411 products vs 385)
- JM Bullion generally has a lower spot price
- APMEX sells to the global market
JM Bullion prides itself on an extensive and diverse precious metals product selection that caters to the needs of all investors and collectors. The selection includes a wide range of gold, silver, platinum, palladium, and copper products, sourced from well-renowned mints worldwide.
Investors will find a variety of investment-grade bullion, including gold and silver coins like the American Gold Eagle, Canadian Gold Maple Leaf, and the American Silver Eagle. Along with these popular items, JM Bullion also offers a range of other sovereign coins from countries such as Australia, Austria, and South Africa.
For those interested in bars and rounds, JM Bullion stocks a wide range of sizes, from 1 gram up to 1 kilogram, making it easy to diversify your portfolio according to your budget and investment goals. These items are provided by trusted private mints such as PAMP Suisse, Engelhard, and Johnson Matthey.
Collectors aren’t left out either, with a variety of limited-edition and collectible pieces, including numismatic coins, proof coins, and colorized coins. For those looking to add a personal touch, JM Bullion also offers customizable products, such as engraved bars and coins.
APMEX offers a product lineup that matches, and in some aspects, surpasses that of JM Bullion.
Similar to JM Bullion, APMEX offers a diverse array of physical bullion including gold, silver, platinum, palladium, and even rare metals like rhodium.
Their product catalog includes coins, bars, and rounds from internationally recognized mints, such as the United States Mint, the Royal Canadian Mint, and the Perth Mint, among others.
APMEX’s selection of investment-grade bullion is comparable to JM Bullion’s offerings, with popular coins like the American Gold Eagle and the Canadian Silver Maple Leaf. However, APMEX stands out with its larger selection of international coins, offering pieces from virtually every minting country.
This makes APMEX a more diverse marketplace for investors interested in a wide geographical range of bullion coins.
When it comes to gold and silver bars and rounds, APMEX also offers a vast array of sizes from a gram to a kilogram, sourced from esteemed private mints. But where APMEX truly excels is in its selection of rare and hard-to-find items. For collectors and investors seeking unique pieces, APMEX’s offerings are robust, featuring vintage coins, rare editions, and retired series.
They often offer exclusive series and collections, such as the Lunar Series coins, which are not readily available at other dealers like JM Bullion. This exclusivity makes APMEX a go-to platform for collectors seeking unique and limited edition pieces.
Factor 2: Shipping & Storage
Now that we’ve briefly gone over the selections offered by each dealer, let’s take a look at how the purchasing process, and shipping options play out.
APMEX and JM Bullion Offer Free Shipping for Orders over $199
- APMEX charges $9.95 shipping for sub-$199 orders
- APMEX offers select international shipping options unlike JM Bullion
- JM Bullion doesn’t disclose storage fees
- Both offer free shipping on $199+ orders
- APMEX leverages Citadel for storage and provides transparent storage fees on their site
As this company is known for its exceptional customer service (which is backed up by hundreds of positive customer reviews), it’s not surprising that JM Bullion offers excellent shipping and storage options.
The company charges $9.95 for shipping on all orders that don’t qualify for free shipping. Regardless of which shipping charges you end up with, your order is insured, which means you won’t have to worry about it getting lost or damaged during transit.
Some investors may want to have their metals shipped directly to their residences. However, for those who don’t want to manage storage themselves, JM Bullion offers several secure storage locations. Unfortunately, the company doesn’t disclose the storage fees, but they do offer the first six months of storage for free (for assets exceeding $3,000 in value).
JM Bullion uses Transcontinental Depository Services for storage options, and they do provide adequate information about the company on their site. Providing a map of the different storage facilities around the world. Just not the exact cost of the services.
Orders valued at less than $199 will incur $9.95 in shipping fees. Orders exceeding this amount will qualify for free shipping. Both options qualify for insured shipping. This insurance policy will protect your precious metals through their journey. However, you will need to sign for your package.
APMEX offers its customers secure storage options through a partnership with Citadel Global Depository Services, Inc., a wholly-owned subsidiary of APMEX. Citadel is known for providing safe, fully-insured storage for precious metal investments, and their services come with the advantage of remarkably low annual storage fees.
Compared to competitors, Citadel’s storage costs are significantly lower – nearly one-third of the cost charged by some other depositories. Interestingly, unlike some storage providers who charge higher fees for silver products, Citadel maintains a consistent fee structure irrespective of the type of precious metal stored.
Transparency is a key feature of Citadel’s service. They provide clear and published pricing for their storage fees. For Non-IRA precious metal product storage, the fees are determined based on the total value of the portfolio.
For instance, a portfolio value up to $32,727 incurs a storage fee of 0.55%, amounting to a minimum of $15 per month, billed quarterly. As the portfolio value increases, the storage rate decreases, with portfolios over $10,000,000 enjoying a storage rate of just 0.45%.
To further enhance the customer experience, APMEX’s website features an easy-to-use slider tool which allows you to calculate your exact storage cost based on your portfolio amount. This simplifies the process of understanding your storage costs, making budgeting and planning more straightforward.
APMEX lets you choose your preferred payment method from six different options: wire transfer, credit or debit card, paper check, eCheck, PayPal, or one of the supported cryptocurrencies.
Factor 3: Additional Services
Lastly, let’s take a look at the additional services offered by each dealer.
APMEX Offers a Slightly Wider Variety of Services
- JM Bullion offers collateral loans, which APMEX does not
- APMEX offers an AutoInvest Feature
- Each websites provide live pricing charts of the precious metals market
- Both companies offer IRA services
If you decide you’d like to sell your precious metals, JM Bullion offers a buyback program. Prices vary, but you can call and get an offer from the company over the phone.
The company will also help you create an IRA using your precious metals, and allows you to take out a loan against your precious metals. The loan program is powered by CFC and allows investors to access equity built up in their precious metals portfolio.
Learn More About JM Bullion
Unique to the industry, APMEX offers investors a small set of tools that they can use alongside their precious metals.
One option, Portfolio Management, allows investors to track the day-to-day value of their precious metals portfolio. You can even set up pricing alters using the management tool.
They also offer “The Bullion Card”—which is a credit card that gives you 4% cash-back on all APMEX purchases—and allow you to set up automatic investments with their “AutoInvest” program. A great way to leverage the benefits of dollar cost averaging (DCA).
JM Bullion vs APMEX – Final Thoughts
Choosing between APMEX and JM Bullion comes down to your specific needs as an investor or collector. Both companies provide a wide range of products and services designed to meet the demands of a diverse customer base, and they both have solid reputations in the industry.
If you’re seeking a diverse selection of precious metals, both companies provide ample options. But for those particularly interested in unique, rare, or hard-to-find pieces, APMEX’s selection may provide a slight edge. APMEX’s partnership with Citadel Global Depository Services for secure and cost-effective storage is also a notable advantage, particularly for investors with larger portfolios.
In addition, APMEX’s AutoInvest feature and The Bullion Card can be attractive for those looking to maximize their investment value.
JM Bullion, on the other hand, might be a better fit if you’re looking for a company with a strong customer service reputation and flexible options like collateral loans against your precious metals. Their extensive selection of precious metals also ensures that you can find the right investment or collectible to meet your needs.
In the end, the best way to decide is by visiting both websites, checking out their offerings, and assessing which one aligns better with your investment goals and personal preferences. Both companies offer a wealth of information about their products, services, and the precious metals market in general, ensuring you can make an informed decision.
Remember, it’s always important to diversify your investment portfolio, and precious metals can be a valuable addition to your investment strategy.