MJPM Reviews

MJPM
MJPM
Verdict
MJPM is a precious metal dealer based in Corvallis, Oregon. The company has been in business since 1985 and offers gold, silver and platinum products including coins, bars and jewelry, Their selection also includes several rare coins including collectibles and ancient coins. However, the company doesn’t offer many IRA-eligible products.
Fees & Charges
Honesty & Transparency
Reputation
Customer Service
Product Selection
Pros
Over 30 years of experience
Received an A+ rating on BBB
Cons
No IRA services
No Palladium products
3.4
Expert Score

What is MJPM?

MJPM is a coin dealer based in Corvallis, Oregon. Its address is 425 SW 3rd St, Corvallis, OR 97333. Similarly, their contact number is 541-753-4337.

The company has been in business since 1985 and is a member of the Numismatic Guaranty Corporation. Also, they are an authorized dealer of PCGS (Professional Coin Grading Service). 

MJPM Website

Their store is open from 10 AM to 5 PM from Monday to Friday. As of December 2022, the precious metal dealer is listed as a trusted vendor in the official US Mint database

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MJPM offers clients a variety of gold, silver, platinum and palladium products. The company runs daily specials to attract investors. They have several resources available on their website to help consumers resolve doubts and get acquainted with the basics of precious metal investing.

Apart from selling bullion, MJPM also provides customers with jewellery and rare coins. 

People Behind MJPM:

The founder and President of MJPM is Michael Chambers. He established the business in 1985 and has been running it since. 

MJPM founder Michael Chambers LinkedIn profile

Michael has a Bachelor of Science from Oregon State University. 

Surprisingly, the company doesn’t share any information about its owners or management on its website.

A 2016 study showed that 94% of customers prefer companies that are transparent over those that aren’t.

That’s why I found it surprising that MJPM doesn’t share any information about its leadership on its website.

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Can You Invest in a Gold IRA with MJPM?

No.

There is no mention of gold IRA or related services on the website of MJPM. The company only focuses on dealing with precious metals and jewellery. 

Moreover, the website doesn’t mention any IRA custodian so it’s clear that they don’t offer any gold IRA to customers. 

While their selection might have a few IRA-eligible products, I recommend investing with a company that specializes in a gold IRA as their services and staff would have expertise in that field as well.

Some specialized gold IRA firms are Preserve Gold, Augusta Precious Metals and the Birch Gold Group

Beware of Gold IRA scams. Recently several scams have been charged by the authorities. Companies such as Regal Assets, Safeguard Metals and Red Rock Secured defrauded hundreds of retirees like you and me. I strongly suggest you learn how to identify gold IRA scams. You can request a free guide using the button below:
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MJPM Products:

MJPM has a varied selection of gold, silver and platinum products along with fine jewellery. Also, there is no sales tax on their precious metals because they are located in Oregon.

The company offers daily specials including discounts and offers on certain purchases. It’s worth pointing out that the company can accept payments from IRA custodians or deliver products directly to one. 

However, they haven’t mentioned any preferred custodians. 

Gold Products:

MJPM gold coins

You can find plenty of popular gold coins at MJPM including: 

  • American Gold Eagle
  • Canadian Gold Maple Leaf
  • American Gold Buffalo
  • South African Krugerrand
  • Chinese Gold Panda
  • Austrian Gold Philharmonic
  • $20 Saint Gaudens
  • $10 Type Gold Coins

And plenty more.

You can also find scrap or recycled gold here along with 100g gold bars. The company shares the prices of some products on its website while for some, you would need to contact them to find out. 

Silver Products:

At MJPM, you can find plenty of popular silver investments including:

  • 1 oz Silver Rounds
  • 90% Silver Quarters
  • American Silver Eagle
  • Canadian Silver Maple Leaf
  • Peace Silver Dollars
  • Morgan Silver Dollars

And several others. 

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The company buys silver flatware as well. 

Platinum Products:

Their selection of Platinum products is rather limited. You will only find the following products:

  • American Eagle Platinum Coin
  • Canadian Maple Leaf Platinum Coin
  • 1 oz Platinum Bar
MJPM Platinum products

Fine Jewelry:

The company offers several varieties of coin pendants, rings, chains and cuff links to customers. You will find rope pendants featuring American Eagles, American Buffalo Coins and several other popular bullion coins. 

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Rare Coins:

Apart from bullion and jewellery, MJPM has a decent selection of rare coins as well. You will find collectible coins, US rare coins and US currency here. Some categories include:

  • Half dollars
  • Bust dollars
  • Nickel 5C
  • Flying Eagle
  • Indian cent
  • Lincoln 1C
  • Ancient coins
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And many more.

While the selection is impressive, there are plenty of numismatics dealers with much larger selections for collectors such as California Numismatic Investments.

Keep in mind that rare and collectible coins are ineligible for gold IRA. You cannot add them to your IRA portfolio as IRS rules prohibit their addition; adding them might result in severe penalties.

MJPM Fees and Charges:

MJPM doesn’t offer any special services. In fact, the company specializes only in dealing with precious metals and jewellery. 

As they don’t offer any specific services, the company has no fee-related information available on its website.

Furthermore, they display the prices of most of the products on their website. For others, you would need to get in touch with one of their representatives or visit their physical store. 

Keep in mind MJPM offers plenty of specials. You can boost your profits by taking advantage of them. Their website has a dedicated Daily Specials page where they post updates on their latest discounts and offers. 

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At the time of writing this review, there is an MJPM silver special running. 

MJPM Reviews and Complaints:

This precious metal dealer has been in the industry for several decades. However, it hasn’t received many reviews online. 

The MJPM BBB page has an A+ rating but there are no customer reviews or complaints. 

MJPM Reviews & Complaints on BBB

Their Google profile has 4 out of 5 stars based on 33 reviews. Most of the reviews praise the company for its pricing and quality service. 

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For example, Heather writes that Michael Chambers gave her an amazing experience and she can’t recommend him enough. Another jeweller had recommended him to her and he turned out to be quite genuine and respectful when appraising her jewellery. 

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The reviewer points out that she never felt rushed and overall, it was a great experience. 

Although the number of reviews isn’t very high, it’s clear that the company puts in a lot of effort into customer support and has succeeded in maintaining a positive reputation among clients. 

Is MJPM Legit? Should You Invest with Them?

Yes, MJPM is a legitimate precious metal dealer and jeweller. They have been in the industry since 1985 and have established themselves as a reputable business.

The company has received a decent amount of reviews online. Most customers praise them for their pricing and helpful service.

Pros:

  • Over 30 years of experience
  • Received an A+ rating on BBB

Cons:

  • No IRA services
  • No Palladium products

Also, they haven’t received any complaints on BBB, a commendable highlight.

Their selection includes various popular gold, silver and platinum products including American Eagles and Canadian Maple Leaf coins. 

However, the company doesn’t offer any IRA services to clients and only focuses on buying and selling precious metal products. 

MJPM has a decent selection of gold and silver products but the lack of IRA specialization is why I can’t recommend them. Their selection is smaller than many major companies and they are only suitable for jewelry buyers.

If you’re a retirement investor, you might want to look elsewhere.

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