Oxford Gold Group Review: Investment Options, Prices, Complaints, and IRA Reviews
UPDATE: As of August 2024, Oxford Gold Group is no longer in business after removing their website, seemingly in response to a large number of complaints.
Please note that our Oxford Gold review below contains outdated information. Wedo not reccommend this business for gold and other precious metals, such as coins, bullion, bars, and IRAs.
Oxford Gold Group Background
Oxford Gold Group is a precious metal company based in Los Angeles, California. Patrick Granfar and John Adler founded it in 2017 to help investors diversify their portfolios by investing in precious metals such as gold, silver, platinum, and palladium. Oxford Gold Group also offers precious metals IRAs to allow investors to take advantage of their retirement accounts’ tax benefits. The company also buys back your precious metals when you decide to sell them.
The company has an F rating from the Better Business Bureau (BBB). Moreover, Oxford Gold Group has a 1.8-star customer satisfaction rating on TrustPilot.
Oxford Gold Group
What’s offered
Precious metals IRA; silver, gold, palladium, and platinum coins and bars
Annual fees
Depends on the IRA investment amount; ranges between $175 and $225
Oxford Gold Group allows its customers to roll over their existing retirement accounts into a precious metals IRA or start a new individual retirement account. The firm also lets customers who want to diversify their portfolio invest in IRS-approved precious metals, including gold, silver, platinum, palladium bullion, and coins. Moreover, Oxford Gold Group offers educational resources such as a real-time precious metal price chart and an up-to-date blog to help customers make informed decisions on precious metal investing. Oxford Gold Group offers the following products and services:
Precious metal IRA
Silver, gold, and palladium coins and bars
Educational resources
Oxford Gold Group IRA review
A precious metals IRA is an individual retirement account designed for investors who wish to hold physical gold or other IRS-approved precious metals. A precious metals IRA functions as a regular IRA but includes physical coins and bars instead of paper assets. The account holder chooses the physical metals they wish to invest in, and the Oxford Gold Group manages the IRA on their behalf. During withdrawal, the company may directly ship the metals to the owner or a depository.
Investors can fund their IRAs in two ways. The first method is by withdrawing the funds from their already existing retirement plan and contributing it to their precious metals IRA within 60 days of the initial withdrawal. The transaction is penalty-free and tax-free if done successfully within 60 days. This method is most used with employer-sponsored retirement plans such as 401k, 403b, and 457b accounts. However, investors can complete this transaction once every 12 months.
The second way to fund a precious metals IRA is through trustee-to-trustee transfer or direct transfer. The individual account holder rolls over their current IRA trustee into a new precious metals account. Through this process, the account holder doesn’t receive a check made payable to the account. A direct transfer is tax and IRS penalty-free. Additionally, investors can benefit from this transaction as much as they want.
Although Oxford Gold Group doesn’t have on-site storage facilities, they partner with trusted depositories. The company stores the precious metals in IRS-approved storage facilities at the Delaware Depository in Wilmington, Delaware, and the Brink’s Depository in Salt Lake City, Utah.
Silver, Gold, Palladium, and Platinum Products
If you are interested in diversifying your investment portfolio with tangible products, Oxford Gold Group offers a range of options. The company provides gold, silver, platinum, and palladium coins and bars from the United States, Canada, Austria, Australia, and the United Kingdom. To begin investing in physical products, fill out an interest form on the company’s website, and a representative will be in contact to discuss the details of the process.
Silver bars and silver coins offered by Oxford Gold Group include:
Canadian Silver Maple Leaf Coin (1 oz)
1964 Kennedy Half Dollar
1964 Kennedy Half Dollar BU
2014 Silver Canadian Arctic Fox (1.5 oz)
2015 Canadian Polar Bear & Cub (1.5 oz)
2016 Canadian Snow Falcon (1.5 oz)
2017 Canadian Grizzly Bear (1.5 oz)
2018 Guinea “Rose Crown” (1.25 oz)
2019 Silver Bottlenose Dolphin (1.5 oz)
2020 Silver North American Bald Eagle (1.5 oz)
America The Beautiful Silver Coin (5 oz)
American Silver Eagle (1 oz)
PAMP Suisse Silver Bar (100 oz)
Silver American Eagle Proof (1 oz)
Silver Austrian Philharmonic (1 oz)
Silver Bar (1, 10, 100 oz)
Silver Franklin Halves
Silver Round (1 oz)
Silver Walking Liberty Halves
2021 Australian Perth Mint Spotted Eagle Ray (1.5 oz)
Oxford Gold Group offers the following gold products:
Gold Bar (1 oz and 10 oz)
2013 Gold Canadian Polar Bear (1/4 oz)
2014 Gold Canadian Arctic Fox (1/4 oz)
2015 Gold Canadian Polar Bear & Cub (1/4 oz)
2016 Gold Canadian Snow Falcon (1/4 oz)
2018 Guinea “Rose Crown” (1/4 oz)
2019 Gold Bottlenose Dolphin (1/3 oz)
2020 North American Bald Eagle (1/10 oz)
2022 British Royal Mint Gold Standard Coin (1/10 oz)
American Gold Eagle (1 oz)
American Gold Eagle Proof (1 oz)
Gold Austrian Philharmonic (1 oz)
Gold Buffalo (1 oz)
Gold Canadian Maple Leaf (1 oz)
Gold South-African Krugerrand (1 oz)
Australian Perth Mint 2021 Spotted Eagle Ray (1/4 oz) Gold Coin
Oxford Gold Group offers the following palladium products:
Palladium Bar (1 oz)
Palladium Canadian Maple Leaf (1 oz)
Oxford Gold Group offers the following platinum products:
2019 Platinum Bottlenose Dolphin (1/3 oz)
American Platinum Eagle Proof (1 oz)
Platinum Austrian Philharmonic (1 oz)
Platinum Bar (1 oz)
Platinum Canadian Maple Leaf (1 oz)
Educational Resources
Oxford Gold Group also strives to help educate its customers on how to make sound investing decisions. They offer a comprehensive investment guide and additional informative videos and articles on how to invest in physical assets.
Oxford Gold Group Prices and Fees
Oxford Gold Group has minimum investment requirements. The minimum amount to invest in a precious metals IRA is $7,500, whereas the minimum purchase amount for precious metals outside of an IRA is $1,500. The company doesn’t charge brokerage fees. Additionally, Oxford Gold Group charges an annual fee of $175 for accounts valued under $100,000 and $225 for accounts valuing more than $100,000. Additionally, the storage fee is included in the price of the annual fee.
Service Type
Investment Minimum
Fees
Gold and Silver IRA
$7,500
$175/year
Cash Gold and Silver purchases
$1,500
$0
Oxford Gold Group Pros and Cons
Every company has its advantages and disadvantages, and Oxford Gold Group is no exception. Consider weighing out the pros and cons of Oxford Gold Group before working with them.
Pros
Simple Fee Structure
Gold and silver IRAs have an annual fee of $175. Physical assets do not require annual fees.
Many Investing Options
Oxford Gold offers a variety of gold, silver, platinum, and palladium options
Two Depositories
Investors can choose to store their physical assets at the Delaware Depository or Brink's Global Services USA.
Online Access
Investors have 24/7 online access to their accounts.
Excellent Reputation
Oxford Gold Group reviews are overwhelmingly positive, noting their business expertise and customer service
Cons
High Fees
The fee for a gold or silver IRA is slightly higher than other precious metal companies.
Additional Fees
Investors may be charged additional fees for paper account statements.
No Online Platform
Investors must call the company to open and purchase assets with a representative.
How to Open an Account
To initiate account setup, consumers can contact Oxford Gold Group over the phone or through their online contact form. An account representative will walk customers through the application, which takes less than 10 minutes to complete. The applicant then sends the completed application to the company via email, fax, or mail. The process of setting up a new IRA account takes around 24 hours.
The second step is to transfer funds into the IRA account. If you already have an existing gold IRA or retirement account, such as a 403(b) or 401(k), you can transfer your funds or roll your balance over to your new gold IRA account. If not, you can fund your account with a contribution from your bank. Transfers usually take around five business days.
The third step is to select your precious metals. Oxford Gold Group will guide you through the different investment options, including specific coins and bars. Once you have designed your portfolio, the company will place the orders for you and arrange shipment to the Delaware Depository or Brink’s Global Services USA.
Oxford Gold Group Reviews, Ratings, and Complaints
The majority of Oxford Gold Group reviews on Business Bureau, Business Consumer Alliance, and TrustPilot are positive, which is good news for investors considering working with the company. The company has received only positive reviews on BCA’s website, where customers have praised their knowledgeable and professional representatives, and less than 1 percent of reviews on TrustPilot are negative. However, on the BBB’s website, the number of Oxford Gold Group complaints has reached 11 in the last three years. The good news is that Oxford Gold Group has a 100% response rate and has successfully resolved 10 of the 11 complaints, which is an important factor for potential investors to consider.
FAQ
Where Does Oxford Gold Group Store My Precious Metals?
Oxford Gold Group uses the Delaware Depository in Wilmington, Delaware, and Brink’s Global Services in Salt Lake City, Utah, to ensure that your precious metals are stored safely to prevent theft or damage. Both depositories are insured by Lloyds of London, a well-known and respected insurance company, and are secured using state-of-the-art technology and professional staff.
Does Oxford Gold Group Give Updates on My Gold or Precious Metal Investments?
Oxford Gold Group updates its customers on their gold and precious metal investments throughout the buying and shipping process. When the precious metals reach the depository, you will receive quarterly updates on your assets.
How Much Does Oxford Gold Group Charge?
Oxford Gold Group charges an annual fee of $175 for accounts valued under $100,000 and $225 for accounts valued more than $100,000.
Can I See How My Precious Metal Investments Are Performing?
It is indispensable to keep track of your portfolio’s performance. That’s why Oxford Gold Group gives its customers access to an online account portal to track their portfolio and the value of their precious metals. Customers will also receive quarterly electronic statements from their account custodians. Additionally, customers can also sign up for paper statements for a fee.
How Can I Withdraw From My Account?
Individuals can withdraw from their gold IRA account at 59 and a half. Withdrawals before that age are subject to a 10% penalty and taxes. When you decide to withdraw from your account, Oxford Gold Group gives you options to choose from. The first option is to sell your precious metals. The company will handle the sale and can transfer the profits to your bank account. The second option is to have your precious metals shipped to your home. First, however, make sure you have proper storage for your precious metals once you receive them.
