Credibility: MJPM or Michael’s Jewelers Precious Metals, to give them their full title, have been in operation since 1985 and was incorporated in 2000 in Oregon (see History section). They have been registered with the BBB since April 2002 but have yet to be accredited. Even though MJPM have yet to receive accreditation from the BBB, the BBB have not received any complaints about MJPM, which is good for their credibility. Additionally they are an authorized dealer of the PCGS (Professional Coin Grading Service) and members of the NGC (Numismatic Guaranty Corp). Having checked them out online, there are no negative comments about MJPM at all, which is excellent. Sadly there are few positive reviews either (other than on their website), which is a shame, but don’t let that put you off dealing with MJPM because they are by all accounts a very good company to deal with.
The website is full of all the relevant details you would need. They provide you with the weight of each coin, along with the buying and selling price, something a lot of companies fail to do. The selection that MJPM has to offer is impressive too and as well as gold, they offer silver and platinum too, so you get a wide and extensive selection from them.
As their name suggests they also sell jewelry. They have an associated company, DiamondHere.com that offer a wide selection of jewelry if you are looking for a special gift for someone.
Phone Number: 1-800-279-4337
Minimum Investment amount: None
What The Web is Saying About MJPM
Below we’ve looked at what various websites and past customers have to say about MJPM
- BBB Rating & Complaints: A+ (although business is not accredited with BBB) and no complaints(Click For Details)
- BCA: Not registered
- CitySearch: Not Rated (Click For Details)
- Google+: Not Rated
- RipOff Report: None
- Trustlink: Not listed
- Trustpilot: N/A
- Yellow Pages: 5 stars based on 8 reviews (Click For Details)
- Yelp: No Rating (Click For Details)
Buy Back: They do offer a selling service, and they inform you of the price on their website.
- 30 years of trading, knowledge and expertise
- Sell diamonds as well.
- Family owned.
MJPM was founded by Michael Chambers in 1985, and is based in Oregon. The company does not operate in any other state. Mr. Chambers is a graduate of Oregon State University. Mr. Chambers has been a full-time professional numismatist since 1982, a coin collector since 1960 and is a lifetime member of the American Numismatic Association.
Gold IRA Rollover
MJPM do offer a gold IRA facility although it is via third party Custodians. You can, of course, buy your gold or silver from MJPM and they will direct you to another party to set up the IRA. Alternatively you can use a gold IRA company that will do the whole thing for you from start to finish.
Concerns / Things To Consider
I don’t have any major concerns about MJPM at all. The only thing to consider is the work you will have to do in setting up your own precious metals IRA, or whether you would prefer your gold provider to do it for you, taking all the hassle out of it?
MJPM has a large selection of gold silver and platinum, both in bullion and coins, and they also deal in diamonds, which can also be a great investment. They have a long-standing history and good credibility. I think for the purchasing of gold and silver, they are a good company to buy from, but if you are looking to set up an IRA, there are more experienced companies out there. In fact, their website says the following relating to choosing an IRA custodian, ‘choose one that has a national reputation among custodians for providing the best customer service and experience.’
MJPM seem like a good company to buy precious metal from. They are regional rather than national and they don’t personally handle IRA’s which is what I am specifically looking at, so if you are looking specifically for a gold ira company, there are better choices.