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MJPM (Michaels Jewelers Precious Metals) (https://www.mjpm.com/) is a precious metals dealer based in Corvallis, Oregon. The business was founded in 1985 and has had an open file with the BBB since 2001 (although they've not yet become BBB-accredited). They're a member of the Numismatic Guaranty Corporation (NGC) and an authorized dealer of the Professional Coin Grading Service (PCGS).
About the Management
MJPM was founded by the current Owner and President Michael Chambers. Mr. Chambers has been doing business in the Corvallis, OR area for nearly three decades as a precious metals investment specialist and coin grading expert. Unfortunately, there is no public knowledge of the company's co-owners or employees available online.
As of May 2022, MJPM is listed in the official U.S. Mint's database of trusted coin vendors.
MJPM Ratings and Complaints
Here are some of the most important ratings from the internet's most popular business directories and ratings bureaus. Although these don't provide a definitive answer regarding whether MJPM should be trusted or not, they can, taken together, provide vital information when deciding to trust their services.
- BBB Rating: A+ (Details)
- BBB Complaints: 0 complaints in the last 3 years (Details)
- CitySearch: Not Rated (Details)
- SiteJabber: Not Rated (Details)
- Yellow Pages: (5 / 5) based on 8 reviews (Details)
- Yelp: Not Rated (Details)
- Google My Business: ⭐⭐⭐⭐ (Profile)
While MJPM doesn't have a very extensive web presence, the ratings that it does have are fairly decent. With a perfect A+ rating from the BBB and an above-average rating of 4.0 on Google My Business, MJPM has done a good job of maintaining a relatively positive online reputation while operating primarily as a local storefront.
MJPM Prices and Products
MJPM sells a variety of gold, silver, and platinum coins, as well as fine jewelry. Being based in Oregon, they do not charge any sales tax on the precious metals they sell. They also have a Daily Specials page that lists their latest discounts and promoted items.
As far as gold IRAs are concerned, MJPM is willing to accept payments from and deliver directly to IRA custodians. However, it is not clear whether they are already partnered with a preferred IRA custodian. Rather, they position themselves purely as a vendor rather than an IRA or 401(k) partner.
MJPM Contact Details
- Address: 425 SW 3rd St, Corvallis, OR 97333
- Phone: (800) 279-4337
- Local Phone: (541) 753-4337
- Website: https://www.mjpm.com/
Key Pages From MJPM Website
The following are some of the key pages on MJPM's website for the Gold IRA investor:
- Gold Coins – MJPM's complete catalog of gold bullion coins and bars.
- Investing in Precious Metals – Discusses the history, advantages, and facts about precious metals investing.
- American Gold Eagle – Lists historical and denomination-related facts about the American Gold Eagle, which is one of the most popular gold coins held in Gold IRAs.
Comparing the Competition Before Investing in a Gold IRA
Choosing a gold IRA company can be a stressful process; after all, you're probably going to be investing a significant portion of your retirement savings. Most financial advisers recommend allocating between 5%-20% of your investment portfolio to precious metals like gold, which acts as a hedge against inflation due to their ability to retain and gain wealth in times of economic hardship.
While less than one-fifth of your portfolio may seem like a minority, in reality, it could wind up being the most important portion to consider in the long term, for two primary reasons:
- A) If inflation continues on its current course, precious metals will probably at least keep their current value, while the dollar will continue to decrease in value.
- B) If inflation takes a turn for the worse, precious metals will likely increase in value while most other forms of currency will decrease in value.
Dedicating a portion of your portfolio to a precious metals IRA is an effective way to protect the value of your retirement savings. However, keep in mind that the cost of storing precious metals in an IRA will vary depending on the gold IRA company or IRA custodian you choose. Ideally, you'll want to deal with a custodian that charges a low flat-rate fee instead of a sliding scale fee (which increases as the account value rises).
Contact Us if You Own or Represent MJPM
If you're an owner, representative, or associate of MJPM and you've noticed any information in this review that is inaccurate, misleading, or outdated, please feel free to contact us with your concerns. With the aim of giving our readers the most accurate reviews possible, we will honor any revision requests that are based on fact.
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MJPM Review Summary
MJPM sells a variety of gold, silver, and platinum coins, as well as fine jewelry. Being based in Oregon, they do not charge any sales tax on the precious metals they sell. They also have a Daily Specials page that lists their latest discounts and promoted items. As far as Gold IRAs are concerned, MJPM is willing to accept payments from and deliver directly to IRA custodians. However, it is not clear whether they are already partnered with a preferred IRA custodian.
Phone: (800) 279-4337