Oxford Gold Group is considered a precious metals dealer, and it offers low commissions with 24-hour service. The owners of this company have 20+ years of experience working for larger precious metals companies, so they put that expertise to work by offering personalized service to the customers.
With this being an owner-operated business, customers can work directly with the business partners on each sale. It doesn’t matter if it involves the direct purchase of gold or silver or other precious metal IRAs.
Before opening an IRA account, it’s crucial to understand the many investment strategies out there. Overall, this Oxford Gold Group review can help consumers decide if it’s the industry leader for gold and silver items and if it offers great service.
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Overview of Oxford Gold Group
Oxford Gold Group is based in Los Angeles, California, and its primary focus is on precious metals. With it, a person can open a gold IRA by using a really great sales rep. Overall, this precious metals investment firm was founded in 2017 by people with 20 years of experience. They ended up frustrated at the high prices of brokerage commissions that other companies charged. Since it doesn’t use commissioned salespeople, the partners are the ones with a personal stake in this company and ensure that customers get the best pricing and best service throughout the whole process.
This Oxford Gold Group review focuses on gold, silver, platinum, palladium, and more. It does a good job of discussing how Oxford Gold Group explained things on its website and how well it does at providing clients with advice on investing.
Please remember that all gold and silver IRAs carry risk and are an investment. As with all investments, it’s possible to lose money. Therefore, future performance results aren’t guaranteed. This is a person’s own investment, so the consumer must show interest in creating a new account. Those who felt pressured should never invest until they are more comfortable.
Pros and Cons
Oxford Gold Group could do a great job on gold, silver, platinum, and palladium sales. However, it’s best not to make hasty decisions and read the pros and cons about the company and its services:
Pros:
- More than 20 years of experience
- Specialize in precious metals IRAs that can include gold, silver, platinum, and palladium
- Makes it more accessible to buy and sell with little risk
Cons:
- Only has two IRA custodians currently
- No dividends or interest earned with gold
- Gold prices unexpectedly drop
- Might take longer to recover from decline in market
Costs Associated with Oxford Gold Group
Generally, Oxford Gold Group uses an annual flat maintenance fee option for its precious metal IRAs. Maintenance fees can range from $175 to $275 each year, and that depends on the amount a person invests into the IRA.
Oxford Gold Group also offers customers the flat-fee structure for services because the costs are standardized through a relationship with the custodians it works with. These are Equity Institutional and STRATA.
Owners of large accounts may get rebates or discounts to lower maintenance fees. However, the rebates depend on the account size, with larger accounts using rebates for many years. One partner of the company claims that its average IRA client pays no storage or maintenance fees during the first three years with the rebate program.
This Oxford Gold Group review couldn’t be complete without talking about storage costs. They vary based on the vault companies used for the account. Average rates run from about $175 to $225 each year. However, this depends on the size of the person’s investment; Oxford Gold Group might offer rebates to clients for up to five years to pay for storage fees. With that, there are no shipping fees.
Commissions are charged for selling and buying precious metals, and this is normal for all investments. However, this company doesn’t require brokerage fees. There’s a minimum amount restriction per purchase – $1,500 to purchase metals outside of the IRA and $7,500 within the IRA. When it’s time to liquidate the holdings, this company also offers a no-fee liquidation and buy-back program.
It’s important to visit the Oxford Gold Group website to learn more before choosing to invest in gold, silver, platinum, and palladium.
Annual Account Maintenance Fees
- $275 for accounts that hold $100,000 or more
- $175 for accounts with less than $100,000
Storage Fees
- Rebates available for up to $2,500 if clients qualify
- Vary from $225 to $175 per year, but the company covers fees for up to five years
Shipping Fees
- No fees to ship to a client’s home and precious metals delivered directly to the house
Minimum Transactions
- $1,500 for a direct purchase
- $7,500 for an IRA purchase
Products and Services Available at Oxford Gold Group
Oxford Gold Group is considered a full-service dealer and has access to many precious metal products, including gold and silver coins. The company offers an assortment of options approved for private collections and IRA investments, with other products being traded in the precious metals market.
Precious metals that are allowed in the self-directed IRA include platinum, palladium, gold, and silver. The partner must ensure that they are in the IRS-approved form.
Overall, Oxford Gold Group sells its service. The partners are there to handle complex transactions so that clients protect their account equities and grow them exponentially.
Precious Metals IRA with Oxford Gold Group
Precious metals IRAs are usually self-directed and can hold bullion or other precious metals that the IRS approves. It’s crucial to work with a reputable dealer to ensure that the IRA has the right metals and meets appropriate storage guidelines.
When working with Oxford Gold Group to set up the precious metals IRA or any non-retirement investing account, the person owns those physical precious metals and not just stock in a company. Such an investment strategy is attractive to investors who might be concerned about a stock market crash.
There is no issue about the records being inaccessible or incorrect from computer errors when owning the metals. Compared to investing in precious stones, precious metals are easier to sell and buy. The reason is that there’s limited access to stones, and the supply is controlled by a single company.
As with other investments and IRAs, the trustee reports asset losses and gains to the IRS. Storage facilities segregate each person’s precious metals, so the metals bought are the same when they sell. Here are the minimum amounts that require IRS reporting:
Gold IRA
- Physical gold with .995 fineness or higher and up to 32.15 troy ounces
- 15+ 1-ounce Mexicana Onza coins
- 25+ 1-ounce Krugerrand coins
- 25+ 1-ounce Maple Leaf coins
Silver IRA
Silver IRAs can include silver products of:
- Any size at a .999 fineness rating or higher
- Can add up to 1,000 troy ounces
- Any blend of coins with a value of $1,000 or higher for 90 percent silver
Platinum IRA
- Any size at a .9995 fineness rating or higher
- Can add up to 25 troy ounces
Palladium Products IRA
- Any size at a .9995 fineness rating or higher
- Can add up to 100 troy ounces
How to Open a Precious Metals IRA from Oxford Gold Group
Oxford Gold Group works hard to make the new account and IRA rollover process simple. Its goal is to make the application process take fewer than 15 minutes to finish. The Oxford Gold Group partner works with the client over the phone to finish the application for a rollover or self-directed IRA.
When the application is sent, the partner sends a form to get signatures and identification copies. Once Oxford Gold Group receives the money and paperwork to fund the IRA, the account is opened fast – usually within 24 hours.
If the new account is a precious metals IRA, Oxford Gold Group contacts the current IRA custodian to arrange for the funds to be transferred to the new account. Many custodians complete this transfer within three to 10 days. When the funds are received, the Oxford partner goes over the investment options to make appropriate precious metals purchases for that IRA.
Complaints about Oxford Gold Group
Oxford Gold Group currently has a four-star rating (out of five stars) on Trustpilot. Most of the Oxford Gold Group reviews were positive, stating how the customers were pleased with the detailed answers they received from the partners.
Since it is a new company, it is not yet rated on the Better Business Bureau. However, consumers should be aware that a good past performance doesn’t always equal great things in the future. Investors should consult with legal advisers about the best companies to handle gold IRAs and other things.
FAQs about Oxford Gold Group
What Retirement Account Types can be Rolled Over to Self-Directed IRAs at Oxford Gold Group?
It’s important to have a clear understanding of the retirement accounts available from this company. Many types qualify to roll over into a precious metals IRA, such as:
- Traditional IRA
- Thrift savings plan
- SIMPLE IRA
- SEP IRA
- 401(k)
- Roth IRA
Can Oxford Gold Group Assist with Finding a Custodian for an IRA?
Currently, Oxford Gold Group works with Equity Institutional and STRATA for all precious metals IRA custodian services. It’s possible to ask the IRS for a specific list of approved IRA custodians. However, it can complicate the IRA purchase if one works with a custodian that isn’t affiliated with Oxford. With that, the company might charge higher fees for service.
What Storage Facility Does Oxford Gold Group Use and Recommend?
Oxford Gold Group primarily offers free insurance and storage through the Delaware Depository. Overall, the Delaware Depository is a prestigious and well-recognized facility in the US. It is not possible to use a different facility other than Delaware Depository at this time.
Why Isn’t It Possible to Store Oxford Gold and Other Precious Metals Directly (at Home)?
Those who choose to invest in gold and other precious metals outside of an IRA may store the metals in their homes. However, it’s not recommended, specifically for security reasons. Most homeowners insurance policies don’t allow IRA-based precious metals to be stored at home or even in a safety security box.
People who wish to have an assortment of different coins to show off might want to call insurance companies about rates. They are often excessively high because of the value of the coins.
Can Oxford Gold Group Guarantee the Return Rate for Precious Metals IRAs?
There are no guarantees for investment in any given market. Gold and precious metals have values that rise and fall with the times. For example, gold and silver rose a lot between 2000 to 2011, but then they saw a downturn for many years. It finally recovered, though.
Investment experts often recommend using a long-term approach to precious metals investing, and that’s what Oxford Gold can help with for those who are interested.
Bottom Line
Oxford Gold Group contains employees who left other firms because they wanted to offer better customer service and expertise with lower fees. Because it partners with a small group of vault companies and custodians, it can provide a smooth and seamless experience for gold and other precious metals IRAs.
Oxford Gold is a newer company, so customer feedback is quite limited. However, the reviews shown are positive. A person’s own personal circumstances indicate whether it’s a good idea to roll over an existing IRA. By purchasing coins as an investment strategy, people can diversify their portfolios.
While this is a great company to work with, other gold companies are more established. After reading this Oxford Gold Group review, potential investors should be more aware of the options available.
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About Tim Schmidt
Tim Schmidt is an Entrepreneur who has covered retirement investing since 2012. He's also a published author, and his views on investing have been featured in USA Today, Tech Times, The Huffington Post, Nasdaq, and many more.
