JMBullion.com Fails to Pay Customers

JMBullion.com (“JMB”) is a large online retailer and purchaser of precious metals with offices in Dallas, Texas. Gold and silver prices have been in a historic bull market for over a year now and that has driven a large interested amount retail investors as they seek alternative investments or inflation hedges. Many of these retail investors have turned to places like Costco or JMB to purchase their gold or silver.

In recent months there have been a large number of JMB customers who have purchased or sold precious metals to JMB and have complained about not receiving their orders in a timely fashion or having to wait months to be paid for precious metals they sold to JMB. Some JMB customers who sold precious metals to JMB in the last two months still have not been paid. The Better Business Bureau website and Reddit are filling up with complaints about JMB. which has led many customers to question the financial stability of the company.

If you are a JMB customer and experiencing problems with an order or with a payment due from JMB I would encourage you to carefully read their terms of service. JMB has a carefully written agreement which is intended to protect them from litigation and severely limit the legal remedies available to its customers. Pursuant to the JMB standard terms and conditions, if you have a claim against JMB you are required to bring it through arbitration and all class action claims are prohibited UNLESS the customer opts out of the binding arbitration. In order to opt out of JMB’s binding arbitration you must submit an email to legal@jmbullion.com within 30 days.