Oxford Gold Group
Company Background
Oxford Gold Group is a precious metal dealer located in Beverly Hills, CA. It was founded by a team of industry veterans and in business since 2017. The company offers its clients gold bullion coins, bars as well as other precious metal assets like silver and platinum.
Oxford Gold has been rated by 4.8/5 on ConsumerAffairs, and 4.8/5 on TrustPilot based on trusted customer reviews with no major complaints against the company.
The company offers investment-grade precious metals as well as precious metal IRAs. However, the primary focus of the business is IRA rollovers. Namely, individuals who can invest with their 401k or self-directed IRA into IRA-eligible precious metal assets.
Oxford Gold has a wide range of products that can be seen on the company website. You read all details of the product you want to purchase including content, weight, mint date, etc.
That said, there is one thing investors want to see. The prices of the products are not listed on their website. I understand that precious metal prices change fast.
However, there are some other companies list product prices that make the process more transparent for the investors. I mean I may not need to feel ready enough to talk to a sales representative in order to learn how much a specific product costs.
I mean you never know if the other customer on the phone getting a better price for the same coin you want to purchase. It will be perceived as non-transparency which definitely doesn't help the business.
We know IRS doesn't allow investors to store their metals themselves if purchased with the funds in an IRA. Investors are obliged to work with an IRS-approved depository.
Oxford Gold Group helps its clients selecting the best depositories where they can store their assets.
Contact Details
Address: 11500 West Olympic Blvd.Suite 642 Los Angeles, CA 90064
Phone: 888-200-5586
E-mail: info@oxfordgoldgroup.com
Operating Hours: Mon – Fri: 7am – 6pm
Pros & Cons of Oxford Gold Group
👍 Pros
- The company's website provides a lot of important information on precious metals and IRAs.
- Convenient processes for buying precious metals or rolling over IRAs.
- Highly-experienced team.
- Flexible pricing and affordable annual fees.
- Fast and conditional free shipping.
👎 Cons
- The company is not listed on Consumer Affairs, TrustLink, and Business Consumer Alliance (BCA).
- It only works with a few IRA custodians.
Services Offered
Below is a list of services provided by the Oxford Gold Group:
1. Precious metals
Oxford Gold Group sells gold, silver, platinum, and palladium in the forms of bullion and coins. They have products ranging from Gold South African Krugerrand to Palladium Canadian Maple Leafs.
You can find their entire assortment on their website under the “Products” page.
However, as I have mentioned earlier, you need to talk to a sales representative in order to get more information about the metals and the company's processes.
This may sound like a big commitment for many people who are not much motivated to buy metals yet.
2. Precious Metal IRA Rollover
There are two sources you can use to invest in gold or other precious metal IRAs. You can either roll over your Self-Direct IRA or 401k which is sponsored by an employer. You can work with the Oxford Gold Group to achieve either option works best for you.
Using Self-Direct IRA
The company helps clients looking for diversifying their IRA. Normally, you cannot hold gold in your Self directed IRA. You need to open a Gold IRA account.
To meet this need, the company offers IRA rollover services. Individuals can invest the desired portion of their IRA into IRS-approved precious metals.
Using 401k
If you have a 401k from a company or companies you no longer work with, you can transfer your accumulated assets in that account into a self-directed IRA.
Once these funds are deposited into your IRA, then you can buy gold or other precious metals. You can talk to an Oxford Gold Group representative if it is the option you want to follow.
3. Precious metals storage
Precious metals purchased using an IRA cannot be held at home or any random desired storage place. IRA regulations clearly define how these assets should be stored.
You can only store your metals in an IRS-approved depository.
Oxford Gold Group recommends storage facilities that help this goal. Nevertheless, you can choose other precious metals storage service providers that are not the ones recommended by Oxford Gold Group. Here you can find the list of the best precious metal depositories.
Applied IRA Fees
At the moment, this precious metal firm works with just two IRA custodians (STRATA and Equity Institutional); thus, they charge a flat fee for maintaining self-directed IRAs.
As you may already know, IRA fees vary from custodians, but Oxford Gold Group has made it possible for its clients to pay a flat fee, irrespective of their IRA custodian (only for its partnered IRA custodians).
However, the admin fee, which is paid annually, does not cover the storage cost – the amount you’ll pay as storage cost depends on the precious metal storage company you are trusting to save your precious metal.
The annual admin fee charged:
- $175 for the accounts with investments less than $100,000
- $225 for the accounts with investments larger than $100,000
The minimum investment amount of precious metals for IRAs is $7,500.
If you’re not adding the precious metal to an IRA, the minimum you can buy from OGG is $1,500 worth of precious metals.
Oxford Gold covers a client’s storage fees for up to 5 years.
⚠️Is Oxford Gold Group SCAM or Legit?
Since this company is not listed on quite many business directories such as Business Consumer Alliance, Trustlink, etc., some people are uncertain about its operation.
Nevertheless, it would interest you to know that the Oxford Gold Group company has lots of positive reviews online, and has not received any critic review from its previous customers.
Overview of all Features
In other to make this Oxford Gold Group review understandable, touching all important aspects of the company, it is best to highlight and explains different factors of this company.
Kindly read through this section carefully as it contains the actual information you have been seeking to know.
With a lot said above about Oxford Gold Group, this part of this article is to expatiate on the PROS and CONS of Oxford Gold Group, so get your legs crossed, and let's read this.
1. Usability
All tips on how to purchase precious metals from Oxford Gold Group are clearly written on the company’s website.
More so, the website features an intuitive interface, and users can easily find their way to the various pages that contain the information they wish to know.
Nevertheless, before you can make a purchase, you will have to reach out to customer support.
2. Available Precious Metals
Basically, Oxford Gold Group products are available either as coins or bars. The company provides gold, silver, platinum, and palladium products.
Interestingly, OGG’s gold and silver coins are acceptable into IRAs – the coins are well-refined to reach the acceptable fineness standard for precious metals IRAs.
3. IRA-Eligible Products
Before a precious metal can be accepted into an IRA, it must meet a required level of fineness:
- IRA-eligible gold must meet at least .995 fineness level
- IRA-eligible silver must meet at least .999 fineness level
- IRA-eligible platinum must meet at least .9995 fineness level
- IRA-eligible palladium must meet at least .9995 fineness level
Oxford Gold bullion coins and bars meet this fineness level; thus, they can be accepted into an Individual Retirement Account.
4. Account Setup Procedures
It won’t take more than 20 minutes to complete your account setup with Oxford Gold. Whether you are rolling over an existing account or setting up a new one OGG makes the whole time easier and faster.
If you’re opening a precious metal IRA account, Oxford Gold contacts your IRA custodian and arrange how to move your funds into your new account.
5. Cost of Oxford Gold Precious Metals
You must make of purchase up to $7,500 for IRAs and $1,500 if it is a direct purchase. However, the actual price for the coins and bars is not listed on the website.
You have to place a call to any of the partners or the customer support to get the individual prices of the various precious metals provided by Oxford Gold Group.
More so, it is important to say that OGG doesn’t charge brokerage fees; however, they place commissions for buying or selling precious metals. Oxford’s no-fee liquidation program is flexible, and the company has a buy-back program, too.
6. Customer Support and Service
Oxford Gold can be reached on the phone via (888) 200-5586. Alternatively, the company has a live chat feature on its website, where you can chat with an available human agent. But you won’t always find the live chat “online.”
So, the best option is calling the company according to below schedule:
- 8:00 AM – 5:00 PM during weekdays (Mon to Fri).
- The company support is usually closed on weekends (Saturdays and Sundays).
7. 401k Services
If you have an eligible 401K plan that you wish to convert to gold investment or other precious metals, Oxford Gold Group can help out with this service at a decent-enough price.
8. Rollover or Transferring Into Precious Metals
Here’s another area that the Oxford Gold Group specializes in. But you would still need to place a call to the company and speak with any of its expert partners/representatives.
Arguably, you should know that self-directed IRA owners can purchase and own physical precious metals your OGG partner will provide all the necessary information you need to know regarding this service.
Also, the company can help you to set up a no-obligation Self-Directed IRA (SDIRA). After your account setup is completed, you can choose any Oxford Gold precious metal to add to your account.
The selected precious metals will be shipped to any choice storage depository of your choice.
9. Delivering Precious Metals
Non-IRA precious metals can be delivered to your doorstep via insured courier service so that you can save them in your private vault. It may take up to 5 days to receive your precious metals; however, you can be able to track the delivery.
More so, the precious metals won’t be left on your doorstep. They must be delivered into your hands.
🙋 Frequently Asked Questions About Oxford Gold Group
Your physical precious metals from OGG will be saved in the depository you choose. You can access the precious metals at any time based on the T&C’s of the precious metals storage service provider.
After you have submitted the required documents, it takes approximately 15 – 20 minutes to get your account fully functional and ready to receive funds.
You won't be charged any dime for transferring funds from your retirement account into your precious metal IRA. Interestingly, Oxford Gold Group gets in touch with your IRA custodian and follows up on the transfer processes; you have nothing to worry about here.
You are going to be provided with an online means of accessing your account at any time. Through the online platform, you can track your precious metals.
