JM Bullion vs Orion Metal Exchange: A Comparative Analysis
In the realm of precious metals investing, two names frequently surface as leading contenders – JM Bullion vs Orion Metal Exchange. These titans in the precious metals industry not only offer a diverse portfolio of products but also provide a range of services tailored to meet the unique needs of investors, including those keen on investing in gold IRAs.
Key Takeaways
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JM Bullion and Orion Metal Exchange are leading precious metals dealers with positive industry reputations; JM Bullion is known for secure transactions, while Orion offers comprehensive services including IRAs and buybacks.
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Both companies offer a variety of products with JM Bullion focusing on physical metals and Orion providing personalized services; they cater to different investment preferences in gold, silver, platinum, and palladium.
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In aspects of pricing and fees, JM Bullion charges a premium over spot price, while Orion does not impose transfer or setup fees for IRAs but does have an annual storage fee in compliance with IRS regulations.
Company Overview: JM Bullion and Orion Metal Exchange
JM Bullion and Orion Metal Exchange are both celebrated dealers in the precious metals industry, offering lucrative options for savvy investors. JM Bullion, renowned for their transparent and secure transactions, has carved out a niche as a reliable dealer of precious metals, including gold, silver, platinum, and palladium. They have earned the trust of investors and enjoy a positive rating with the Better Business Bureau. On the other hand, the American Precious Metals Exchange is another trusted platform for precious metal investments, with Orion Metal Exchange being a prominent player in the market.
Orion Metal Exchange, founded by Jacob Blalock, competes fiercely with other precious metals dealers like American Hartford Gold and has emerged as a significant player in the industry. They offer a comprehensive range of precious metals and supplementary services, including the administration of precious metal IRAs and a robust buyback program. Prospective investors need to directly contact the company to establish an account with Orion Metal Exchange and venture into the purchase of precious metals.
The standing of both companies in the industry and their commitment to providing high-quality products and services have made them top choices among gold investors.
Products Offered
Each company offers a wide array of precious metal products catering to different investment preferences and strategies. JM Bullion offers an assortment of gold investment products, including physical gold in the form of gold coins and bars of various sizes and designs.
Orion Metal Exchange, on the other hand, offers personalized investment services in gold bars and coins. They offer a range of gold coins including Gold American Eagle, Gold Canadian Maple Leaf, and Gold Rose Crown Guinea, with prices for gold coins ranging from $600 to $2,000. However, they do not directly sell gold bars through their website, prompting customers to reach out for current prices.
For silver investors, Orion Metal Exchange extends a variety of options, including Silver American Eagles, Silver Canadian Maple Leafs, silver bars, and silver coins. They also offer silver-proof coins, priced at $75 or more.
In addition to gold and silver, Orion Metal Exchange also offers platinum and palladium investment options. They provide:
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Platinum Canadian Maple Leaf coins and various modern platinum coin designs
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10-ounce palladium bars
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A selection of palladium coins like the Palladium Silver Eagle and Palladium Maple Leaf.
However, bear in mind that the availability of these precious metals is subject to supply limitations influenced by the precious metals market, making it essential to purchase precious metals at the right time.
Pricing and Fees
In terms of pricing and fees, both JM Bullion and Orion Metal Exchange have strategies to ensure competitive pricing. JM Bullion imposes minimal fees, except for a slight premium over the spot price, which is customary for all precious metals dealers.
Orion Metal Exchange stands out by not imposing any transfer fees or account setup fees for their precious metals IRA. However, they do have an annual storage fee, as mandated by IRS regulations prohibiting the storage of precious metals at home. This fee is inclusive of services like the storage, security, and insurance of your investment, making it an essential part of your investment strategy, particularly for precious metals IRAs.
When it comes to IRA account fees, Orion Metal Exchange provides low fee options, whereas JM Bullion has specific storage and maintenance fees for gold and other precious metals.
Online Shopping Experience
In an era where digital presence is critical, both JM Bullion and Orion Metal Exchange have made significant strides in providing a user-friendly online platform. The JM Bullion website offers a straightforward catalog design that facilitates easy navigation.
Alternatively, Orion Metal Exchange enhances transparency through online ordering, creating a documented record of transactions that can be advantageous for future reference. They also improve their online shopping experience by providing a live chat feature for customers, enabling real-time assistance during the online ordering process.
Gold IRA Services
Both JM Bullion and Orion Metal Exchange have managed to carve a niche for themselves in the realm of Gold IRA services. The custodian of a Gold IRA is tasked with establishing and overseeing the account, ensuring strict adherence to IRS regulations. Investors have the option to select their own custodian and depository for a gold IRA; companies like Orion also assist in locating a depository that aligns with the investor’s requirements.
Orion Metal Exchange provides a Gold IRA account setup, including gold IRAs, characterized by transparent pricing and the absence of setup or transfer fees. In some cases, the company even assumes responsibility for paying storage fees for up to three years.
Orion Metal Exchange also facilitates the rollover of a retirement account into a Gold IRA. They coordinate with their IRA department to initiate the transfer of funds from the current retirement account custodian. However, they recommend that investors seek advice from a CPA or tax advisor before proceeding with the transfer.
Yet, it’s important to remember that Orion Metal Exchange imposes an annual storage and insurance fee of $175, with possible waivers for up to three years for certain accounts.
Customer Service and Support
In reviews of gold IRA companies, aspects such as customer service and responsiveness are often emphasized over price. This is because investing in precious metals can be a complex process, and investors value support and guidance along their investment journey.
Gold IRA companies could enhance their services by providing personalized, high-quality assistance and by offering comprehensive education to customers regarding fees, risks, and the appropriateness of alternative assets for their specific investment situations.
Orion Metal Exchange has demonstrated its dedication to these principles, earning recognition for its outstanding customer service and commitment to guiding investors in making educated decisions.
Reputation and Consumer Reviews
Both JM Bullion and Orion Metal Exchange have collected positive feedback from users, highlighting the critical role of reputation in selecting a gold IRA company. Orion Metal Exchange, for instance, boasts a rating of 4.7 out of 5 on Consumer Affairs and 4.9 out of 5 on TrustPilot.com, with only 2 reviews on TrustPilot.com rating the company below 4 stars.
The company’s strong reputation is further reinforced by numerous favorable reviews on platforms including BBB, Consumer Affairs, Google Reviews, and others.
In fact, only 9.5% of gold IRA customer reviews for Orion Metal Exchange were rated less than 4 stars, demonstrating robust customer satisfaction.
Buyback Policies
The buyback policy is another crucial aspect to bear in mind when selecting a precious metals company. JM Bullion provides the option for refunds, returns, and exchanges within a period of five business days from the receipt of the item. Orion Metal Exchange, on the other hand, offers a Buyback Policy that includes limited-time offers, a fast transaction procedure, insured home delivery, and a variety of payment options.
When selling back precious metals to these companies, JM Bullion offers the flexibility of selling precious metals back online or in-person. Orion Metal Exchange necessitates a phone call to secure the product and pricing and provides an exclusive fee-free buy-back policy for products originally purchased from them.
However, while Orion Metal Exchange does not levy any charges on clients selling back their precious metals, JM Bullion imposes a $25 fee for bank wires and a $30 fee for paper checks when customers sell back items.
Educational Resources and Market Insights
JM Bullion and Orion Metal Exchange both provide educational resources to enlighten investors about the precious metals market. Some of the educational resources they offer include:
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Articles and blog posts about investing in precious metals
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Guides and tutorials on how to buy and sell gold and silver
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Webinars and videos on market trends and investment strategies
Orion Metal Exchange also provides a complimentary investor kit to facilitate learning about purchasing gold and silver through their platform.
The educational materials offered by Orion Metal Exchange include data charts and articles covering investment, IRAs, and precious metals. They also provide a complimentary investor’s kit and guide.
Notably, Orion Metal Exchange provides a news section on their website that delivers updates on market trends and investment advice.
Payment and Shipping Options
Orion Metal Exchange offers a variety of payment options for the purchase of precious metals, including bank transfers, wire transfers, and checks. To ensure the safety and security of their precious metal shipments, Orion Metal Exchange offers insured home delivery for purchases. This includes insurance and tracking to protect the transit and provide customers with assurance. In the event of non-delivery or partial loss of an order, customers have the option to file an insurance claim.
After completing the payment, processing may require up to seven days at Orion Metal Exchange for bank or wire transfers. In the case of payment by check, clearance may take up to 12 business days, with an average delivery timeframe of 5-7 business days from the payment date.
Note that JM Bullion imposes a shipping fee on orders falling short of a certain value threshold.
Storage Solutions
JM Bullion and Orion Metal Exchange both propose secure options for storing precious metals. Orion Metal Exchange aids clients in locating an appropriate depository, recommending storage at facilities like local Brinks or Delaware Depository, and enabling investors to select their own custodian and depository.
These storage solutions can either be allocated or segregated. Allocated storage involves the storage of metals alongside those of other investors, while segregated storage ensures that investments are kept separate in an individual storage box or vault.
Storing gold purchased for a Gold IRA at home is not in compliance with IRS regulations, and non-compliance could result in the metals being removed from your IRA and potentially incurring a withdrawal tax penalty.
While JM Bullion does provide secure storage options, the source material does not provide detailed specifics.
Summary
In sum, both JM Bullion and Orion Metal Exchange are reputable companies in the precious metals industry, offering a range of products and services to cater to diverse investment needs. Whether you’re looking to buy gold coins or bars, invest in a Gold IRA, or seeking a company with robust customer support, these two companies have proved to be reliable choices.
Investing in precious metals can be a complex process, but with the right guidance and support, it can be a rewarding journey. Whether you choose JM Bullion or Orion Metal Exchange, you’ll be entrusting your investment to industry leaders committed to helping you make well-informed decisions.
Frequently Asked Questions
Has JM Bullion ever sold fake gold?
No, JM Bullion takes pride in assuring the authenticity of the products they sell. Therefore, they have not sold fake gold.
How much does Orion Metal Exchange charge?
Orion Metal Exchange charges an annual fee between $150 and $225 for their IRA accounts, which can vary based on investment amount and storage choice, and is competitive with other precious metals IRAs.
What is the most reputable online gold dealer?
APMEX is considered the most reputable online gold dealer due to its solid track record, strong customer service, and extensive product range.
Which bullion brand is best?
The best and most trusted bullion brands include [list the brands mentioned in other answers]. Choose the one that best suits your needs.
What types of precious metals do JM Bullion and Orion Metal Exchange offer?
JM Bullion and Orion Metal Exchange offer a variety of precious metals such as gold, silver, platinum, and palladium in the form of coins and bars. Consider exploring their options for your investment portfolio.
