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After serving in the US military and working as a prison guard, Smith competed as an amateur compiling a record of 35–4, before turning professional in November 1981, at the late age of 28.

The following year Smith upset future cruiserweight world champion and southpaw Ricky Parkey, then 2–0 as a pro, by winning a 6-round points decision. After scoring two knockouts, Smith followed up the Parkey win with another upset, an 8-round points decision over Chris McDonald, who was 8–0–1 as a pro and had been a top amateur. He went on to score nine straight knockouts, before traveling to the UK in 1984 to fight a world title eliminator against the hard hitting undefeated British prospect Frank Bruno, who was 21–0 (21 KO). Once again Bonecrusher would throw a spanner in the works. Having been outboxed by Bruno for the first nine rounds, he unleashed a salvo of power punches to KO Bruno in the tenth and final round.

Deeply committed to helping impoverished fighters, Smith was a guest at the Ring 10 Veterans Boxing Foundation 2nd Annual Fundraiser in 2012 where he expressed his support of initiatives to better provide for those in need.

Smith began working as a recruiter and the Director of Intramural Athletics for Sandhills Community College in June 2005.

In 2004 Smith started the non-profit organization Champion For Kids Inc. to provide scholarships to high school students.

He fought on and off for a few more years. In 1998 he traveled to Australia to battle Joe Bugner for the WBF Heavyweight Championship, but had to retire after one round when his shoulder popped out. The same injury ended a fight in 1999 with former world champion Larry Holmes. After this loss Smith retired at the age of 46 and with a record of 44–17–1 (32 KOs).

Smith became an ordained minister in 1996 and dedicated his life to helping young people stay clear of crime and drugs. Three years later, he retired from boxing.

In 1995, Smith helped establish the North Carolina Boxing Commission. He served as its first chairman.

In 1994 he was matched with power punching Tyson-lookalike Lionel Butler, who was highly ranked and on a red hot string of knockouts. Smith collapsed in 3 rounds, having offered little resistance.

In 1993 Smith lost to undefeated southpaw and #1 contender Michael Moorer. The paying audience jeered the two passive fighters through to the 10 round finish, where Smith lost a lopsided decision.

Still active in 1992, now aged 39 and with a 33–9–1 record, Smith regained some credibility with a 10-round decision over Mark Wills. His old agitator Don King gave him another opportunity on one of his undercards and matched him with warhorse Greg Page, in a battle of two ex-champs. In the opening round Bonecrusher tried to rush Page as he had done Witherspoon, however he was decked himself for his efforts, and was outpunched by Page over the 10 round distance.

However he lost his world ranking and all his momentum in November 1991 when he dropped a shocking 10-round decision to club fighter Levi Billups who had a patchy 15–5 record. Smith looked under-prepared as he was banged around and generally outhustled by Billups. He rallied to knock down the underdog in the 9th, however it was too little too late.

In 1989, now aged 36, he took on the young power-punching Jamaican-Canadian Donovan (Razor) Ruddock. Smith's own punch power was still evident as he decked Ruddock hard in the 2nd round, but seemed to punch himself out trying to finish Ruddock, who was a crafty survivor. The next few rounds saw Smith tire, as Ruddock's youth and power overwhelmed him, knocking him clean out in the 7th round for the full 10 count. Ruddock would go on to become a star and feature in several high-profile fights. Smith's career appeared to be over. He announced his retirement after the loss and said he would now pursue politics.

With his surprising victory over Witherspoon, Smith took his place in the heavyweight unification series, an ongoing competition being conducted by HBO and King to try to crown an undisputed world heavyweight champion for the first time since the retirement of Muhammad Ali. The victory garnered Smith another high-profile fight, where he was to defend his belt against newly crowned WBC champion Mike Tyson in a unification contest. Taking place on March 7, 1987, the bout saw Tyson beat Smith to the punch in nearly every round while Smith resorted to holding to keep himself in the fight. The lopsided decision saw Smith lose eleven rounds on two scorecards and all twelve on another, and the professional consequences were worse as Tyson's management refused to allow Smith to fight on any Tyson undercards afterwards.

1986 started no better as he dropped Marvis Frazier, also breaking Frazier's jaw, but still lost the 10-round decision. At this time Bonecrusher began consulting a psychiatrist. In his next fight he demolished ex-world champ Mike Weaver in one round. He followed it up with two 10-round decisions over Jesse Ferguson (14–2) and David Bey (15–2), arguably his most important decision wins.

In December 1986, while preparing for a fight with Mitch "Blood" Green, Don King informed him at short notice that Tony Tubbs had dropped out of his upcoming challenge to WBA champ Tim Witherspoon, and now Smith would be getting a rematch with his former conqueror, his second world title fight. Smith came out fast. He dropped the usually durable Witherspoon three times in the opening round, scoring a first-round knockout and winning the WBA title in an upset.

Smith came back in 1985, fighting on Don King undercards. He lost a 10-round decision to 19–0 amateur star and future world champ Tony Tubbs in an eliminator, won a 10-round decision over 18–1 Cuban contender José Ribalta, but then he dropped a wide 12-round decision to ex-world champ Tim Witherspoon in a bid for Witherspoon's NABF belt.

In November 1984 he fought Larry Holmes for the IBF heavyweight championship. Holmes had a record of 45–0 and had won eighteen straight world title fights. After rocking Holmes, Smith was stopped on advice of the doctor in the 12th round, due to a bad cut. He again was behind on points.

He lost his first fight against James "Broad-Axe" Broad, a world class amateur and qualifier for the 1980 Olympics who was 2–0 as a pro. The fight was broadcast on ESPN, and Smith had come in at short notice and was not in great shape, looking out of depth against the skilled Broad. Smith was dropped in 4 rounds with body shots, and counted out.

Smith was born in Magnolia, North Carolina. After graduating from high school in, he attended James Sprunt Community College in Kenansville, North Carolina, earning an associate's degree in Business Administration in 1973. Two years later, he earned a bachelor's degree in Business Administration from Shaw University in Raleigh, North Carolina.

James "Bonecrusher" Smith (born April 3, 1953) is an American former professional boxer who competed from 1981 to 1999, and held the WBA heavyweight title from 1986 to 1987.