JM Bullion and SD Bullion both sell coins to precious metals IRAs, but only SD Bullion's terms add a 5% fee when an order is cancelled, as of November 2026. That fee bites when your custodian's wire is late. So which is cheaper for an IRA: the lower coin price, or the gentler terms when something goes wrong? A custodian is the trust company that holds your IRA and pays the dealer. Market loss is the drop in the metal's price between your order and its cancellation.
Most JM Bullion vs SD Bullion comparisons rate shipping and coin selection. This one compares what an IRA buyer meets: price by wire, custodian, vault, cancellation and sell-back terms, and complaints. It sits with the other gold IRA companies we compare.
Neither dealer has a SafeOunce rating yet. The five key numbers are listed below, each checked on November 6, 2026.
- IRA minimum: $100 on all orders at JM Bullion vs not published at SD Bullion.
- Custodian named: New Direction Trust Company at JM Bullion vs none at SD Bullion.
- Cancelling a confirmed order: market loss only at JM Bullion vs 5% of the order (at least $35) plus market loss at SD Bullion.
- Where IRA metal is stored: Gold.com vaults in Las Vegas and Dallas vs SD Depository on the Ohio-Michigan border.
- BBB complaints in three years: 187 at JM Bullion vs 99 at SD Bullion.
JM Bullion vs SD Bullion at a Glance: 18 IRA Facts Side by Side#
The table below compares the same 18 IRA facts for JM Bullion and SD Bullion, with the date we checked each one. BBB accreditation is a paid membership with the Better Business Bureau. Segregated storage means your coins are kept apart from other people's coins.
Table: SD Bullion vs JM Bullion for an IRA: 18 facts, checked November 6, 2026
| Fact | JM Bullion (official site) | SD Bullion (official site) | As of / source |
|---|---|---|---|
| Legal name and address | JM Bullion, Inc., 11700 Preston Rd, Dallas, TX | SD Bullion, Inc., 2830 S Hulen St (private mailbox), Fort Worth, TX | BBB 2026-11-06 |
| Business start (BBB) | 2011-01-01 | 2011-03-01 | BBB 2026-11-06 |
| Owner | Gold.com, Inc. (NYSE: GOLD), 100% since 2021 | Independent; BBB lists Dr. Tyler Wall, President/Owner | Gold.com 10-K FY2026; BBB 2026-11-06 |
| IRA minimum | No IRA minimum; $100 on all orders | Not published (call for current requirements) | IRA pages 2026-11-06 |
| Custodian named | New Direction Trust Company (FAQ example) | Not named ("custodian coordination handled by SD Bullion's IRA team") | IRA pages 2026-11-06 |
| Custodian fees | Not on JM's page; New Direction: $30 + $220/yr + $130 per trade | Not published | ndtco.com 2026-09-29 |
| Where IRA metal is stored | JM's vaults in Las Vegas, NV and Dallas, TX (Gold.com facilities), "insured by Lloyd's of London" (JM's claim) | SD Depository, "on our premises at the border of Ohio and Michigan", segregated, Lloyd's-insured (SD's claim) | IRA pages 2026-11-06; storage page 2026-09-29 |
| Storage fee for IRA accounts | Not published | Personal accounts 0.29%/yr gold, 0.39%/yr silver, $9.99/month minimum; IRA rate not stated | Storage page 2026-09-29 |
| Time to open or fund (dealer's claim) | New Direction "1-2 business days to open your account" | "as few as six business days"; most rollovers fund in 7-10 business days | IRA pages 2026-11-06 |
| 1 oz Gold Eagle by wire | Not yet checked | $4,233.62 (1-9 coins) = 3.92% over the page's $4,073.80 gold price | sdbullion.com 2026-11-06, snapshot |
| Card surcharge (IRAs pay by wire) | Not yet checked | +4.17% ($4,410.02) | sdbullion.com 2026-11-06 |
| Cancel a confirmed order | "You may not cancel"; Market Loss Fee only, none if the price rose | 5% of the order or $35, whichever is greater, plus market loss | JM terms 2026-07-29 and help article 2025-01-14; SD terms 2026-09-24 |
| Market gains on a cancelled order | Kept by JM Bullion | Kept by SD Bullion | Same documents |
| Selling back | Ship within 3 business days of the locked price; minimum not yet checked | Minimum 2 oz gold / 40 oz silver; paid 1-3 business days after processing; $30 wire | JM terms §7; SD sell page 2026-11-06 |
| Disputes | JAMS arbitration, 30-day opt-out, $250 consumer fee cap, your home county, Texas law | Binding arbitration, small-claims exception, Ohio law; no opt-out or fee cap stated | JM terms 2026-07-29; SD terms 2026-09-24 |
| BBB | A+, accredited since 2014-07-14; 187 complaints in 3 yrs (106 in 12 months); 597 reviews | A+, accredited since 2014-04-22; 99 complaints in 3 yrs (39 in 12 months); 439 reviews | bbb.org 2026-11-06 |
| Trustpilot | 4.5 from 2,613 reviews; 13% one-star; invites reviews | 4.1 (2026-11-06); 4.2 from 3,131 reviews (2026-09-29) | trustpilot.com |
| Court and regulator record | Suk v. JM Bullion, contract dispute (D. Or. No. 3:22-cv-01085), outcome not found; no regulator action found | Vickery v. SD Bullion, false advertising, alleged (S.D. Cal. No. 3:25-cv-01915-JES-DDL), pending as of the 2026-01-20 order, later entries not confirmed; no regulator action found | courtlistener.com; CFTC releases 2026-11-06 |
| SafeOunce rating | Rating pending | Rating pending | Our method |
Company website links in this table: SafeOunce earns nothing from these links.
"Not published" means the fact was not on the dealer's pages on the date shown. "Not yet checked" means we have not tested it yet.
One comparison page, Minted Metal, gives JM Bullion a 3.9 Trustpilot score from more than 5,000 reviews. It says SD Bullion was founded in 2012 in Ottawa Lake, Michigan, and offers a "price match guarantee".
The records differ. Trustpilot showed JM at 4.5 from 2,613 reviews on November 6, 2026. The BBB lists SD's start as March 1, 2011, in Fort Worth, Texas. SD's Terms of Use (updated September 24, 2026) contain no price match.
Our JM Bullion IRA review covers JM Bullion alone, and our SD Bullion IRA review covers SD Bullion.
How Do JM Bullion and SD Bullion Fees Compare for an IRA?#
An IRA buying from JM Bullion or SD Bullion pays three costs: the coin price, the custodian's fee and the vault's fee, and neither dealer publishes all three. Which is the biggest? The coin price, because the dealer's markup sits inside it. The premium is the amount you pay above the metal's own value; the markup is the dealer's share of it.
Custodian and storage fees are smaller but repeat every year. Our guide to gold IRA fees lists every cost layer.
Coin prices: what a 1 oz Gold Eagle costs by wire#
On November 6, 2026, SD Bullion listed a 1 oz American Gold Eagle at $4,233.62 by wire, 3.92% above the gold price on its page. JM Bullion's price is not yet checked; its product page showed a bot check that day.
The gold price on SD's page was $4,073.80, a stand-in for the spot price, the market price of raw metal. SD's bid, what it pays you to buy the coin back, was $4,017.91 the same day. The round trip, the cost of buying and selling at once, was 5.10%.
A premium is only as exact as the spot price behind it. SD's page price may lag the live market, so compare two dealers only against the same spot price, read in the same minute.
An IRA pays by wire, so the card price ($4,410.02, or 4.17% more at SD) never applies. A third-party tracker, Minted Metal, showed JM Bullion's Gold Eagle at 3.8% over its own spot price on November 5, 2026; we have not checked that against JM's page.
The table below shows SD Bullion's two dated readings.
Table: 1 oz American Gold Eagle at SD Bullion and JM Bullion, dated snapshots
| Dealer and date | Wire, 1-9 coins | Wire, 20+ coins | Card | Bid (dealer buys) | Gold price on page | Premium | Round trip |
|---|---|---|---|---|---|---|---|
| SD Bullion, 2026-11-06 | $4,233.62 | $4,213.62 | $4,410.02 | $4,017.91 | $4,073.80 | 3.92% | 5.10% |
| SD Bullion, 2026-09-29 | $4,280.53 | Not recorded | Not recorded | $4,049.93 | $4,159.52 | 2.91% | 5.39% |
| JM Bullion, 2026-11-06 | Not yet checked | Not yet checked | Not yet checked | Not yet checked | Not yet checked | Not yet checked | Not yet checked |
Prices change by the minute. These are single readings of the dealer's page, not quotes. Ask for a written quote by wire on the day your custodian is ready to pay.
The Gold Eagle is a US coin named in the tax code (26 U.S.C. 408(m)(3)(A)). Its IRA status is explained under American Gold Eagle IRA rules.
Why can't a Gold Eagle be much cheaper anywhere? The US Mint sells it only to large wholesalers, called authorized purchasers, at about 3% over spot (Coin World, January 7, 2026). Coin World lists SD Bullion among them for gold in 2026. SD's 3.92% sits about 0.9 points above that Mint price; this is context, not SD's cost.
SD Bullion's slogan "Lowest Price. Period." is the subject of a false-advertising suit, pending as of the January 20, 2026 order (S.D. Cal. No. 3:25-cv-01915-JES-DDL).
A volume tier is a lower price for more coins: SD's 20+ tier was $20 per coin lower. A $100,000 IRA order is about 36 times JM's average order of $2,794 (Gold.com, fiscal 2026), so ask each dealer for its highest tier.
How much must gold rise before you break even?#
At SD Bullion's November 6 prices, gold had to rise about 5.4% before a 1 oz Gold Eagle could be sold back for what it cost. At the 20+ coin tier, it was about 4.9%.
Run your own numbers in the gold IRA break-even calculator.
Custodian fees: New Direction at JM Bullion vs an unnamed custodian at SD Bullion#
JM Bullion's IRA page names New Direction Trust Company as a custodian; SD Bullion names none. New Direction's metals fees start at $30 to open, $220 a year and $130 per purchase or sale (fee page read September 29, 2026).
JM Bullion's IRA page says it is "not able to help set up the actual IRA" but can "recommend custodians". On cost: "Fees vary depending on the size of your account and the metal holdings in your depository." In plain English: JM names a custodian and leaves the fees to it.
SD Bullion's IRA page mentions "custodian coordination handled by SD Bullion's IRA team" (November 6, 2026). In plain English: SD arranges a custodian but does not say which one. You can use any custodian with either dealer, so ask for its full fee schedule first.
The table below lists New Direction's metals IRA fees.
Table: New Direction Trust Company precious metals IRA fees (ndtco.com, read 2026-09-29)
| Fee line | Amount | When charged |
|---|---|---|
| Application | $30 | Once, at opening |
| Yearly metals fee | $220 ($185 with online trading) | Every year |
| Each purchase, sale or exchange | $130 | Each trade |
| Transfer out | $150 | When you move the account |
| Re-titling for an in-kind distribution | $75 | When you take the metal itself |
| Storage | Passed through at cost | Set by the vault |
The full New Direction Trust Company fees include storage and exit charges. Over 10 years with one purchase and one sale, the lines above add up to $2,490 before storage: $30 + 10 × $220 + $130 + $130.
In-kind means taking the metal itself instead of cash; re-titling moves the coins from the IRA's name into yours. A pass-through fee is the vault's charge, passed on at cost.
New Direction states: "NDTCO does not select the depository for the storage of your account's precious metals investments." In plain English: you choose the vault, and the dealer may suggest its own.
Storage fees: Gold.com vaults vs SD Depository#
SD Bullion publishes vault storage rates of 0.29% a year for gold and 0.39% for silver (September 29, 2026), but does not say whether IRA accounts pay them. JM Bullion publishes no IRA storage rate.
SD's storage page starts storage "as low as $9.99 per month" and charges $25 per outbound shipment. A footnote adds: "Offer of three months free storage does not apply to IRA storage accounts." The table below turns the published rates into dollars.
Table: SD Depository published rates in dollars per year (if IRA accounts pay the published rate; SD does not say), storage page read 2026-09-29
| Account value | Metal | Published rate | Yearly cost |
|---|---|---|---|
| $25,000 | Gold | 0.29% (the $9.99 monthly minimum applies) | $119.88 |
| $50,000 | Gold | 0.29% | $145 |
| $100,000 | Gold | 0.29% | $290 |
| $50,000 | Silver | 0.39% | $195 |
The $9.99 monthly minimum governs below about $41,300 of gold. JM's IRA page names its Las Vegas and Dallas vaults but no IRA storage price.
A percentage fee grows with your account; a flat fee does not. Equity Trust's metals-only schedule (Rev. 081726, read September 29, 2026) charges $110 a year commingled, where coins share a shelf, or $160 segregated, at any balance. SD's 0.29% rate passes $160 at about $55,200 of gold.
Every vault's charges are listed under gold IRA storage fees.
"No hidden fees": what each dealer's fee claim leaves out#
JM Bullion's IRA page promises investing "without hidden fees", but each dealer's margin sits inside the coin price, and the custodian and vault bill you separately. JM's page, read September 29, 2026, says it bypasses "expensive TV commercials" to "pass the savings directly to you."
SD Bullion's IRA page (November 6, 2026) lists the "Cons": "no dividends, annual custodian and storage fees, dealer spread on every purchase, and slower liquidity than ETFs." In plain English: SD at least names the costs, but neither dealer prints them in dollars for an IRA.
The margin is what the dealer keeps after paying for the metal. Gold.com, JM's parent, kept a 5.138% gross margin across its direct-to-consumer brands in the fiscal year to June 30, 2026, about 5 cents per customer dollar. The spread is the gap between the dealer's selling and buying prices.
Our explainer on gold IRA markups and spreads shows how to get the number in writing.
Minimum Investment: $100 at JM Bullion vs Not Published at SD Bullion#
JM Bullion has no IRA minimum beyond its $100 minimum on every order, and SD Bullion does not publish an IRA minimum, as of November 6, 2026. JM's IRA page says it has no "specific minimum order size for IRA Purchases" but "a $100 minimum that applies to all orders."
SD's IRA page says: "There is no IRS-mandated minimum. SD Bullion's Gold IRA program accommodates a wide range of account sizes." In plain English: JM will sell your IRA a single small coin, while SD asks you to phone first.
A small coin is still costly inside an IRA. New Direction charges $130 for each purchase (fee page, September 29, 2026), more than a $100 coin is worth. The IRS sets no minimum IRA size, and we list the gold IRA minimum investment for every company we track.
What a small IRA pays in yearly fees#
At New Direction's $220 yearly metals fee (as of September 29, 2026), a $10,000 IRA loses 2.2% a year to the custodian alone, before storage and the coin markup. Fee drag is the share of your account the yearly fees take. In year one, New Direction charges $380: the $30 application, the $220 yearly fee and one $130 purchase.
A $500 monthly purchase through New Direction loses 26% of each purchase to the $130 trade fee. The table below shows the yearly drag at five account sizes.
Table: New Direction fees as a share of the account (fee schedule read 2026-09-29)
| Account size | Year one ($380) | Later years ($220) |
|---|---|---|
| $5,000 | 7.6% | 4.4% |
| $10,000 | 3.8% | 2.2% |
| $25,000 | 1.52% | 0.88% |
| $50,000 | 0.76% | 0.44% |
| $100,000 | 0.38% | 0.22% |
Storage is extra and set by the vault.
Less than $25,000? A gold ETF in your current IRA may cost less#
With less than $25,000, a gold ETF held in an IRA you already have usually costs less per year than a metals IRA bought from either dealer. As of September 29, 2026, the expense ratios were 0.10% for GLDM, 0.25% for IAU and 0.40% for GLD. So $10,000 in GLDM costs about $10 a year, against $220 at New Direction before storage.
An ETF is a fund that holds gold for you; you never own coins. The yearly costs are set out in gold IRA vs gold ETF.
Buyback and Cancellation: What JM Bullion and SD Bullion Put in Writing#
Both dealers lock your price when you order and keep any market gain on a cancelled order, but only SD Bullion adds a 5% cancellation fee. A price lock fixes your price at the moment the dealer confirms your order.
Why does this matter more for an IRA? The IRA's money moves only when the custodian sends it. SD Bullion's IRA page says most rollovers fund in 7 to 10 business days (November 6, 2026), yet its terms say quotes are "only valid for a five minute duration".
At JM, New Direction "can take 1-2 business days to open your account", per JM's IRA page, before any money moves. Either way, the dealer's clock starts at your order, not when the money arrives.
Cancelling an order: market loss at JM Bullion vs 5% plus market loss at SD Bullion#
A cancelled order costs only the market loss under JM Bullion's terms, but 5% of the order (at least $35) plus market loss under SD Bullion's terms. A confirmed order is one the dealer has accepted at a locked price. The table below gives each dealer's exact words.
Table: Cancellation terms, word for word
| Dealer | Exact wording | Document and date | What it means |
|---|---|---|---|
| JM Bullion | "You may not cancel any confirmed purchase order that you have placed with us." | Terms, last modified 2026-07-29 | A locked order is binding |
| JM Bullion | Market Loss Fee: "the difference between the Purchase Price and the Asking Price, if any" | Same | You pay only if the price fell |
| JM Bullion | "All market gains on returns and refunds shall belong solely to JM Bullion." | Same | If the price rose, JM keeps the gain |
| JM Bullion | "We only charge the difference in spot price from the time of order to the time of cancellation." | Help article, updated 2025-01-14 | No fee if the price is the same or higher |
| SD Bullion | "Cancellation fees are calculated as 5% of the order total or $35, whichever is greater, plus any applicable market loss." | Terms of Use, updated 2026-09-24 | At least 5% even if the price rose |
| SD Bullion | "Any market gains as a result of a cancelled order will remain the property of SD Bullion." | Same | If the price rose, SD keeps the gain |
| SD Bullion | "Any cancellation requests must be filed via telephone during normal business hours." | Same | Cancel by phone only |
| SD Bullion | "The balance due to SD Bullion is to be paid within (10) business days." | Same | The fee is a debt you must pay |
In plain English: at JM, a cancelled order costs you only if the price fell. At SD, it costs at least 5% even if the price rose. Where JM's help article and terms differ, the terms govern.
How does that compare with other dealers? On a $10,000 order cancelled after a 2% drop, SD's terms cost $700 ($500 fee plus $200 market loss) and JM's $200. Dealers we track with a flat cancellation fee charge $225 (Summit Metals) to $550 (Texas Precious Metals), and Fisher Precious Metals $700 for late payment (terms as of September 2026). SD's cost ties the steepest; JM's market-loss-only rule, shared by Money Metals, costs the least.
JM's terms say it is "not responsible for any market losses ... including those caused by third parties", and your custodian is a third party. SD's terms add "Any cost of collections activities" to an unpaid balance.
The IRS gives you at least 7 days to revoke a new IRA (Treas. Reg. 1.408-6), but that right runs against the custodian, not a dealer's order. Our page on how to cancel a gold IRA separates the IRS right from the dealer's terms.
What a late custodian wire can cost on a $50,000 or $100,000 order#
If a $50,000 IRA order is cancelled after gold falls 2%, JM Bullion's terms cost about $1,000 and SD Bullion's about $3,500. If gold rises 2%, JM charges nothing and SD still charges $2,500. The table below shows both order sizes.
Table: Cost of a cancelled IRA order under each dealer's terms (illustration)
| Order size | Gold move | JM Bullion | SD Bullion |
|---|---|---|---|
| $50,000 | Down 2% | About $1,000 | $2,500 + about $1,000 = about $3,500 (7%) |
| $50,000 | Up 2% | $0 (JM keeps the $1,000 gain) | $2,500 (SD keeps the gain) |
| $100,000 | Down 2% | About $2,000 | About $7,000 |
| $100,000 | Up 2% | $0 | $5,000 |
Illustration from each dealer's written terms; the market loss is approximate because JM measures it on its asking price or spot and SD on spot.
One JM Bullion reviewer on Trustpilot reported "over $2k in market losses" in June 2026 after an IRA setup did not go through; that is a single, unverified review. Lock a price only after your custodian confirms the money is ready to send.
Selling back: SD Bullion's 2-ounce minimum vs JM Bullion's 3-day shipping rule#
SD Bullion publishes a 2-ounce gold minimum for selling back and pays within 1 to 3 business days after processing (sell page, November 6, 2026). JM Bullion's terms require you to ship within 3 business days of locking a sell price. A sell-back, or buyback, is the dealer buying your metal back. The full process is in how to sell gold in your IRA step by step.
In an IRA, the custodian tells the vault to release the metal, and the dealer pays the custodian, not you. New Direction charges $130 for the sale (fee page, September 29, 2026).
The table below compares the written sell-back terms.
Table: Selling back to each dealer
| Term | JM Bullion | SD Bullion |
|---|---|---|
| Minimum | Not yet checked | 2 oz gold, 40 oz silver, 1 oz platinum or palladium |
| How the price locks | Sell To Us price set when you lock it | Bids are "only an indication" and "not a locked rate" until confirmed |
| Shipping deadline | Within 3 business days of the locked price (terms §7) | Not stated on the sell page |
| Payment time | Not yet checked | "within 1-3 business days" after processing |
| Fees | Not yet checked | $30 bank wire |
| Cancelled sale | Not yet checked | 5% cancellation fee plus any market loss |
| Bid, 1 oz Gold Eagle | Not yet checked | $4,017.91 (2026-11-06) |
Sources: JM terms last modified 2026-07-29; SD sell page read 2026-11-06.
RMD stands for required minimum distribution, the yearly withdrawal that starts at age 73 or 75. A $100,000 gold IRA at age 75 has a required withdrawal of about $4,065 (divisor 24.6, IRS Publication 590-B). SD's 2-ounce minimum was worth about $8,036 at its November 6 bid. So you sell more than required, take coins in kind, or keep cash in the IRA for the withdrawal.
The withdrawal math is in our gold IRA RMD rules.
Arbitration and claim deadlines: Texas terms vs Ohio terms#
Both dealers send disputes to private arbitration, but only JM Bullion offers a 30-day opt-out, a $250 cap on your filing fee and a hearing in your home county. Arbitration is a private hearing instead of a court case. An opt-out lets you keep your right to sue, and a claim deadline is the last day you can bring a claim.
The table below sets the two dispute clauses side by side.
Table: Dispute terms (JM terms last modified 2026-07-29; SD Terms of Use updated 2026-09-24)
| Term | JM Bullion | SD Bullion |
|---|---|---|
| Forum | JAMS arbitration | "binding arbitration, rather than court, except that you may assert claims in small claims court" |
| Opt-out | "YOU HAVE THE RIGHT TO OPT OUT OF BINDING ARBITRATION WITHIN 30 DAYS", by email to legal@jmbullion.com | None stated |
| Your cost cap | "up to a maximum of $250 if you are a consumer" | None stated; "Attorneys fees, costs and cost of collection shall be awarded in the event of a favorable arbitration award" |
| Hearing place | Dallas County, Texas, or the county of your permanent residence | Not stated |
| Governing law | Texas | Federal Arbitration Act and Ohio law |
| Claim deadline | 1 year and 1 day for purchase and sale claims; 2 years and 1 day for other claims (§19) | Report a discrepancy "within 7 business days after receipt" |
| Mass claims | 25 or more similar notices count as a mass filing | Not stated |
| Other | §23 also states one year and one day for court actions | Quotes "only valid for a five minute duration" |
In plain English: a 30-day opt-out keeps your right to go to court if you act quickly. At SD, report any delivery problem within 7 business days. JM's §19 and §23 differ on some deadlines, so ask JM which applies.
Our table of gold IRA company contracts compared shows these clauses at other sellers.
Where Your IRA Metal Is Stored: Two Dealer-Controlled Vaults#
Both dealers can keep your IRA metal in their own group's vault: JM Bullion in Gold.com's Las Vegas and Dallas facilities, SD Bullion in its own SD Depository. The custodian, not the dealer, holds the IRA.
The tax code requires bullion in an IRA to be "in the physical possession of a trustee" (26 U.S.C. 408(m)(3)(B)). In plain English: you may pick any vault on the custodian's list. Our guide to gold IRA depositories compares independent vaults and their insurance.
JM Bullion's IRA page still cites First State Depository#
As of November 6, 2026, JM Bullion's IRA page still names First State Depository as a vault that keeps metals "safe and accounted for". That vault failed in a fraud case in 2022.
The line reads: "Most all depositories, including First State Depository, provide full accounting and reporting services to insure your metals are safe and accounted for." In plain English: the example is out of date, not a sign that JM uses that vault today.
The record is the First State Depository case: CFTC v. First State Depository Co., D. Del. No. 1:22-cv-01266-RGA, filed September 27, 2022. A court froze the vault's assets and appointed a receiver on September 29, 2022. Receivership means a court-appointed manager takes over a failed company.
The receiver's accountants estimated $56.8 million to $110.4 million of customer metal missing. Of 2,102 accounts, 90% were IRAs, and the CFTC's complaint says New Direction Trust Company administered more than half of the IRA accounts. The owner, Robert Leroy Higgins, was convicted on October 24, 2024 and sentenced on June 17, 2025 to 65 years.
Gold.com's 2026 filings describe one group inventory policy: $50 million primary cover ($200,000 deductible) plus Lloyd's excess layers to $500 million in total. Every location shares that limit, which excludes terrorism and civil unrest. The filings do not say whether it covers customer IRA metal, so ask the custodian in writing which vault holds your coins and for its insurance certificate.
How to check that your coins arrived is explained in is your gold really in your IRA.
SD Depository: the seller, the buyback desk and the vault in one company#
SD Bullion sells the metal, buys it back and stores it in its own vault, so no outside company stands between the seller and your coins except the custodian's paperwork. SD's IRA page (November 6, 2026) says: "we act as your trusted bullion dealer, coordinate with IRA custodian, and store your metals in our own IRS IRA-approved depository". The IRS approves no depository (see the claims table below).
On September 29, 2026, the IRA page said nothing needs to ship: "We simply move them from one part of our vault to the other." The storage page puts the vault "on our premises at the border of Ohio and Michigan". It says the metal is "insured by our Lloyds of London insurance policy up to the market value of the products stored".
In plain English: nothing ships, but the dealer also holds the coins. SD's Terms of Use require a signed SD Depository contract within 3 business days of the order. SD publishes no audit firm; an audit is an outside count of the metal against the records.
Three questions decide whether dealer-run storage suits you.
- The name of the independent firm that audits the vault, and how often it counts.
- The insurance limit in dollars, and whether other customers share it.
- The custodian's full list of vaults, so you can choose another one.
We compare dealer-owned vaults for IRA metal, including SD Depository.
Complaints, Lawsuits and Regulatory Records Compared#
As of November 6, 2026, JM Bullion had 187 BBB complaints in three years and SD Bullion 99, and we found no regulator action against either. SD Bullion also faces a false-advertising suit, pending as of the January 20, 2026 order (S.D. Cal. No. 3:25-cv-01915-JES-DDL); later docket entries are not confirmed.
BBB and Trustpilot: 187 vs 99 complaints in three years#
JM Bullion's BBB profile shows 31.3 complaints per 100 reviews and SD Bullion's 22.6, as of November 6, 2026. At JM, 106 of the 187 arrived in the last 12 months. Complaint density is complaints divided by reviews, which adjusts for size in a rough way.
Table: BBB and Trustpilot records (bbb.org and trustpilot.com, 2026-11-06 unless dated)
| Dealer | BBB grade | Accredited since | Complaints, 3 years | In last 12 months | BBB reviews | Complaints per 100 reviews | Trustpilot | Trustpilot reviews | One-star share | Invites reviews |
|---|---|---|---|---|---|---|---|---|---|---|
| JM Bullion | A+ | 2014-07-14 | 187 | 106 (57%) | 597 | 31.3 | 4.5 | 2,613 | 13% | Yes; replied to 98% of negative reviews |
| SD Bullion | A+ | 2014-04-22 | 99 | 39 (39%) | 439 | 22.6 | 4.1 | 3,131 (2026-09-29) | Not shown | No recent invitations (2026-09-29); replied to 11% of negatives then |
The density moves with the review count: SD's BBB profile showed 608 reviews on September 29, 2026 and 439 on November 6.
Counts also grow with sales. Gold.com's fiscal 2026 annual report counts 4.72 million retail customers across its group. SD publishes no sales volume, so a lower count does not prove a lower rate per order.
The BBB grade rests mostly on complaint handling, not reviews, which is why BBB and Trustpilot ratings barely separate dealers.
What one-star reviewers complain about: cancellation fees lead at SD Bullion#
In a September 2026 sample of 20 recent one-star Trustpilot reviews for each dealer, 7 of SD Bullion's and 4 of JM Bullion's were about cancellation, price-lock or market-loss fees. Across 77 recent one-star reviews at four dealers (APMEX, JM Bullion, SD Bullion and Money Metals), the five most common themes are listed below.
- Shipping delays and lost packages: 36%.
- Cancellation, price-lock and market-loss fees: 22%.
- Product condition: 13%.
- Refund delays: 6%.
- Identity checks on orders: 4%.
Two JM Bullion reviewers mentioned a $20 cancellation fee. One SD Bullion reviewer reported a "5% cancellation fee plus 50% collections fee". These are reviewer reports, not verified facts, and review posts alone never put a company on our Watch list.
For an IRA buyer, the fee complaints matter most, because the fee risk is yours if the custodian is slow.
Lawsuits: the "Lowest Price. Period." case and a contract suit#
A buyer alleges in federal court that SD Bullion's "Lowest Price. Period." slogan was false, and the court let his California false-advertising claims go forward on January 20, 2026. An allegation is a claim not yet proven in court. The table below lists the two cases we found.
Table: Court cases found (courtlistener.com, checked 2026-11-06)
| Case | Court and number | Filed / key order | Subject | Outcome |
|---|---|---|---|---|
| Vickery v. SD Bullion, Inc. | S.D. Cal. No. 3:25-cv-01915-JES-DDL | Filed 2025; order 2026-01-20 | Alleged false advertising of "Lowest Price. Period." | Pending as of the 2026-01-20 order; later entries not confirmed |
| Suk v. JM Bullion, Inc. | D. Or. No. 3:22-cv-01085 | 2022 | Contract dispute | Outcome not found |
In Vickery (S.D. Cal. No. 3:25-cv-01915-JES-DDL), the buyer alleges he paid $1,123.95 for a gold coin on May 25, 2025. He alleges it was "$102 more expensive per coin" than at other retailers that day, about 9% of the price he paid. Details sit on SD Bullion complaints and lawsuits.
A motion to dismiss asks the judge to end a case before evidence is heard. On January 20, 2026, the court dismissed the Lanham Act claims (a federal false-advertising law a consumer cannot sue under) and the conspiracy claim. It kept the UCL and FAL claims under California's unfair-competition and false-advertising laws.
In plain English: no court has found SD Bullion's prices false. The case is about one coin and a slogan, not IRA accounts.
JM Bullion's one suit we list is a contract dispute, Suk v. JM Bullion, Inc. (D. Or. No. 3:22-cv-01085), outcome not found. The JM Bullion complaints and BBB record page lists each case.
Regulator actions: none found for either dealer#
We found no CFTC, SEC, FTC or state regulator action against JM Bullion or SD Bullion as of November 6, 2026. We searched CFTC press releases, federal court dockets and both BBB profiles' government-action sections. We did not search all 50 state regulators' databases, so a state action could exist.
Every case we track is in our list of gold IRA enforcement actions.
Website claims vs the record: "IRS-approved depository", age 70½ and "managing it for you"#
Both dealers' IRA pages contain statements that the tax code or their own pages contradict. The table below sets five statements against the record. All were read on November 6, 2026.
Table: Dealer IRA page claims vs the record
| Claim | Dealer | What the record shows |
|---|---|---|
| "our own IRS IRA-approved depository" | SD Bullion | The tax code requires trustee possession (26 U.S.C. 408(m)(3)(B)). The IRS approves nonbank trustees under Treas. Reg. 1.408-2(e), 73 on its list as of April 1, 2026, not vaults |
| "Starting after age 70½ ... (RMDs)" | SD Bullion | RMDs start at 73 for people born 1951 to 1958 and 75 for people born 1960 or later (26 U.S.C. 401(a)(9)(C)(v)); 1959 is 73 under proposed regulations |
| "Dealer spread is the difference between the spot price and the price you pay the dealer" | SD Bullion | That is the premium over spot. The spread is the gap between the dealer's selling and buying prices |
| "Open a Self-Directed IRA Account with JM Bullion ... managing it for you" | JM Bullion | Its own FAQ: "We are not able to help set up the actual IRA" |
| First State Depository cited as a vault with "full accounting" | JM Bullion | A court appointed a receiver for the vault on September 29, 2022, in a CFTC case (storage section above) |
What the IRS list does and does not cover is on IRS-approved gold IRA custodians.
Coins need no IRS approval either. The tax code itself names the eligible coins and sets the bullion standard by reference to futures-market fineness (26 U.S.C. 408(m)(3)). Which coins qualify is set out under IRA-approved precious metals.
JM Bullion or SD Bullion: Which Fits Your IRA Situation?#
Neither dealer is better for every IRA: the right one depends on how fast your custodian can pay, how much you are moving, and where you want the metal stored. The table below names nine situations and the fact that decides each one.
Table: Which dealer fits which IRA situation (records as of November 6, 2026)
| Your situation | What the records point to | Deciding fact |
|---|---|---|
| Under $25,000 to invest | Neither route's flat custodian fees fit well; compare a gold ETF in your current IRA | $220 a year = 2.2% of $10,000 at New Direction |
| Money still in a 401(k) or another IRA, timing unsure | JM's terms charge only market loss if the order is cancelled; SD's add 5%; at either, lock the price only after the custodian has the cash | Cancellation clauses (JM 2026-07-29; SD 2026-09-24); SD rollovers 7-10 business days vs 5-minute quotes |
| You want the custodian named before you call | JM names New Direction; ask SD which custodian it uses | IRA pages 2026-11-06 |
| You want the lowest posted coin price | Compare both by wire in the same minute, against the same spot price | SD 3.92% over its page's gold price (2026-11-06); "lowest" is SD's claim and the subject of a suit pending as of the 2026-01-20 order (S.D. Cal. No. 3:25-cv-01915-JES-DDL) |
| You want the vault separate from the seller | Choose a vault from the custodian's list at either dealer | SD's default is its own vault; JM's metal sits in Gold.com vaults |
| You want stronger written dispute rights | JM Bullion | 30-day opt-out, $250 fee cap, home-county hearing |
| You will sell small amounts for RMDs | Keep cash in the IRA, or check JM's sell minimum first | SD's 2-ounce gold minimum (about $8,036) can exceed a yearly RMD |
| You want fewer complaints relative to reviews | SD Bullion, with the volume caveat | 22.6 vs 31.3 complaints per 100 BBB reviews |
| You want an independent seller | SD Bullion | SD's BBB profile lists an owner-president; JM is part of Gold.com, which also owns Provident and Monex |
SafeOunce rates sellers on public records and a buyer-style written quote test, as set out in how SafeOunce rates gold IRA companies. Both dealers show "Rating pending", so we name no overall winner.
Recheck the dated facts on the day you buy. If you are asking which seller costs least overall, markups included, see gold IRA companies with the lowest total cost.
What Should You Ask JM Bullion or SD Bullion Before Your IRA Buys?#
Ask both dealers the same six questions in writing, on the same day, before your custodian sends any money. The six questions are listed below.
- Ask for the price per coin by wire at your order size, and the percent over spot.
- Ask what the dealer would pay you for the same coins today.
- Ask which custodian it works with and for that custodian's fee schedule.
- Ask which vault will hold the metal, who audits it and what the insurance limit is.
- Ask what a cancelled order costs, in dollars, if your custodian's wire is late.
- Ask for the minimum it buys back and how fast it pays your custodian.
All 12 questions are in how to choose a gold IRA company.
Lock the price only after the custodian confirms the cash is there; a late wire is how an IRA buyer ends up owing a cancellation fee. Keep every answer with its date.
Put both written answers side by side in our gold IRA company comparison tool.
Who owns JM Bullion and SD Bullion?#
JM Bullion is owned by Gold.com, Inc. (NYSE: GOLD), called A-Mark Precious Metals until December 2025; SD Bullion's BBB profile lists Dr. Tyler Wall as President and Owner.
Gold.com bought the rest of JM Bullion in 2021, its fiscal 2026 annual report says. It also owns Provident Metals, Silver.com, BGASC, BullionMax, Goldline, Monex (since January 2026) and 55.4% of Silver Gold Bull.
More is on Gold.com, the company behind JM Bullion.
Is JM Bullion the same company as Provident Metals?#
Provident Metals is a website run by JM Bullion within Gold.com, and its IRA page repeats JM Bullion's text almost word for word, including the First State Depository line. We read both pages on September 29, 2026.
Switching to Provident does not change the company behind the sale. Our Provident Metals IRA review covers the brand.
How are dealer review sites paid?#
Many dealer comparison pages are paid when you click through or buy, so check each page's disclosure before trusting its verdict.
The one dedicated comparison page in the top results, Minted Metal, says it has "zero financial relationships with any dealer reviewed" (September 2026). We explain the system in are gold IRA reviews paid.
SafeOunce takes no money from any company named on this page.
No company can pay to change its rating or its place on SafeOunce; see who pays SafeOunce.
How do JM Bullion and SD Bullion compare with other dealers and gold IRA companies?#
Four other head-to-head pages compare sellers on the same fields, one of them JM Bullion against APMEX. The four pairs are listed below.
- U.S. Gold Bureau vs Texas Precious Metals
- APMEX vs JM Bullion
- APMEX vs Monex
- Augusta Precious Metals vs Goldco
Is a bullion dealer cheaper than a gold IRA company?#
Usually yes: SD Bullion's posted 1 oz Gold Eagle round trip was about 5.1% on November 6, 2026, while gold IRA companies that publish spread caps allow far more.
American Hartford Gold's September 2026 agreement allows up to 19.99% on bullion. Preserve Gold's June 2025 agreement allows up to 20% on cash bullion and generally up to 34.99% on IRA purchases.
At a 20% spread and a typical buyback bid, a $100,000 IRA starts about $23,750 down on day one, even with fees waived, against $4,501.33 at SD's November 6 prices. The full cost comparison is in bullion dealer vs gold IRA company.
How trustworthy is JM Bullion?#
JM Bullion is an operating, BBB A+ dealer owned by a public company, with 187 BBB complaints in three years as of November 6, 2026.
We found no regulator action, but its IRA page still cites First State Depository, a vault that failed in 2022 (CFTC release 8606-22). More is in our JM Bullion IRA review.
What is the lawsuit against JM Bullion?#
We found one federal suit against JM Bullion, a contract dispute whose outcome we could not find, and no regulator action, as of November 6, 2026.
The case is Suk v. JM Bullion, Inc. (D. Or. No. 3:22-cv-01085).
Does SD Bullion have a good reputation?#
SD Bullion holds a BBB A+ with 99 complaints in three years and a 4.1 Trustpilot score, as of November 6, 2026.
It also faces a suit, pending as of the January 20, 2026 order, alleging that its "Lowest Price. Period." slogan is false (S.D. Cal. No. 3:25-cv-01915-JES-DDL). More is in our SD Bullion IRA review.
Can you add coins you already bought from JM Bullion or SD Bullion to your IRA?#
No: IRA contributions must be made in cash under 26 U.S.C. 408(a)(1), so coins you already own cannot be moved into an IRA.
You can sell them and contribute the cash within the 2026 limit of $7,500, plus $1,100 at age 50 or older (IRS Notice 2025-67). A transfer from another IRA is not a contribution and has no 60-day clock. How money moves between IRAs is covered in IRA to gold IRA transfer.
Can you keep IRA coins from either dealer at home?#
No: metal in a precious metals IRA must stay with the trustee, and taking it home is a taxable distribution under McNulty v. Commissioner, 157 T.C. No. 10 (2021).
The ruling is explained under home storage gold IRA.