Jm Bullion's Instructions Aren't What They Claim Forthe Time Line

From my experience, if you are a first time check user with them it does take a little longer to process.

Just to confirm, the hold period begins once we receive and deposit your payment, not when the check clears your bank. The only way for us to 100% clear a check as good funds is to wait out the bounce period.

If you want to send over your order number, I can check on the status and give you a projected ship date.

My first order took close to 3 weeks to arrive, but arrive it did. Next order came faster, now I do the electronic checks! Tried 1st National Reserve, ordered the NRA rounds, they were a little slow, but still they arrived. Webekin

I've had good experiences with JM and APMEX.... I'd say JM took longer to ship, but I wasn't in a rush.

The simple solution would be to do an e-check

It has been picked up and in the system of the USPS. Interesting tid bit of info, somebody on another forum is correct in part JM Bullion has no inventory, the fulfillment house is A-Mark Precious Metals, Inc out of Vegas. So that can explain some of the delay since money's had to go through and clear A-mark bank too. Another interesting bit is that A-mark has acquired a majority ownership stake in Indiana-based Silver Towne mint This happened in Aug of 2016.
I wonder how many of the other bullion sellers also use A-Mark's fulfillment center in Vegas!

Short version:
The fact that your bank says the check cleared is irrelevant.

Long version:
The fact that your bank says the check cleared is irrelevant. Mail order companies that take checks have no idea when your bank clears the check. The company has a set number of days they wait. Banks don't notify depositors that a check clears.

Once the notification is received that the shipment is in the USPS system you should have your merchandise in 2-3 days. If it takes "another 5 days", this is all on USPS, not JM Bullion. I have never had any problem getting merchandise from them quickly, even when I pay by check. (I will admit that I use e-check to eliminate the time it takes to get to JM Bullion).

It appears it is NOT going to be "2/3 weeks" before you get your order.

If you want your order quickly, pay with PayPal. "PayPal orders clear as soon as they completed and move directly into the shipping queue." Or credit card. "Credit and debit card orders clear as soon as they are marked to Paid in our system, which typically occurs within one business day."

Paper checks just take longer "After we have received and deposited your payment, there is a 3-5 business day processing period while we wait for the payment to clear." Reading between the lines, the 3-5 business day delay doesn't even start until they have deposited your check which could add a day or two depending on the day of the week and if there are bank holidays involved.

To expand on NSS-52's comment...

The "Check 21" law required banks to electronically process checks within 1 day. To get around the intent of the law (force faster processing), most banks just "clear" the funds the next day. Then if the check actually bounces (same old 3-5 day clearing), they remove the funds from you account per the account agreement.

Net? "Of course we follow check 21, it's the law" oh, but THAT check bounced.


As we say, the large print giveth and the small print takith away.