Oxford Gold Group Review

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The Oxford Gold Group is a precious metals brokerage firm owned and operated by industry veterans with over two decades of experience.

The company provides telephone customer service and low commissions, and customers who come to Oxford Gold Group are treated well as partners in every transaction.

Customers benefit from direct contact with the owners in their precious metal transactions and frequently find that the personal experience of the owners working with them is a significant benefit when planning and executing precious metal transactions.

Customers may contribute to precious metals-backed individual retirement accounts or conduct individual transactions for physical items.

The company sells precious metals such as gold, silver, and platinum in coin and bar form, as well as investments in gold-backed IRA accounts. Additionally, the website provides the instructional material and downloadable content to educate the buyer.

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Continue reading if you are interested in investing in precious metals for personal security or as a retirement plan. 

Products and Services


gold and silver coins and bars

The Oxford Gold Group has a wide range of goods and services to choose from.  The company offers a variety of coins in precious metals, including 1oz American Gold Eagle coins, 1oz Canadian Maple Leaf Silver coins, and many more. 

As an option, buyers can also select from a large range of precious metal bars, including 1oz gold bars, 1oz platinum bars, and 100oz silver bars.

Depending on your income and other factors, you can invest anywhere from $5,500 to $6,500 annually in a gold-backed IRA. You can begin taking money out of your IRA at the age of 59.5, but you will have to pay taxes on the money. 

At the age of 70.5, you must take money out of the account, but you can specify how much. 

In terms of retirement planning, an Individual Retirement Account (IRA) is a viable option for those who don't want their retirement plans to be tied to a single employer or who work for themselves, as IRAs are not employer-backed as some retirement plans. 

Rollover and transfer from other retirement accounts can be done with Oxford Gold Group IRAs, and the account holder can choose which metals to link the account to.

Oxford Gold Group Costs


For Precious Metals IRAs, Oxford Gold Group charges an annual flat maintenance fee. According to the amount invested in the IRA, the annual maintenance fee ranges from $175 to $275.

Because of their partnership with Strata Trust Company and Equity Institutional, Oxford Gold can offer a flat fee structure to their customers due to the standardization of services and costs.

man standing next to a cell phone

Maintenance fees for customers with larger accounts are reduced by rebates.

Depending on the size of the account, rebates can be used for a long period. For the first three years of the rebate program, Oxford Gold Group's average IRA client does not pay any maintenance or storage fees.

Depending on the vault company that Oxford uses, the cost of storage can vary greatly.  Storage fees range from $175 to $225 per year on average. But depending on the size of the investment, Oxford Gold offers a rebate of one to five years for storage fees paid.

This product does not have a shipping charge. Oxford Gold Group does charge commission fees for the purchase or sale of precious metals, which is standard practice for any investment, but not brokerage fees.

To buy metals, you must purchase at minimum at least $7,500 for your IRA or $1,500 outside of an IRA. Oxford Gold Group has both a buy-back and a no-fee liquidation program when it comes time to liquidate holdings.

Precious Metals Investing


3 gold coins

There is no doubt that precious metals are high-value items. For this reason, self-directed retirement accounts such as gold-backed IRAs tend to hold more value, as gold bullion and other precious metals approved by the IRS tend to appreciate over time.

When you employ an Oxford Gold dealer to assist you in your investments, you will know that your IRA contains the correct metals and that it is properly stored following storage guidelines and with approved appointees. 

Most investments are about owning stock in a business. In this case, owning stock in a gold IRA, you own the actual precious metals themselves.

For those who have concerns about the depreciation of the dollar or an impending stock market crash, investments in gold and precious metals are an attractive option.

Furthermore, owning physical precious metals removes the necessity of trusting electronic records being lost or inaccurate due to errors or hacking.

Investing in metals is also preferable to investing in diamonds and precious stones, as those industries are limited in access due to monopolies such as DeBeers in the case of diamonds. This makes precious metals easier to buy and sell.  

Your gold IRA, like other IRAs, are investments that are required to report gains and losses, typically on form 1099-B when taxes are filed.

Storage facilities are often required to keep precious metals separated by the customer to ensure ease of access should the metals be sold at a later time.

For tax purposes, one should also note that a transaction of more than $10,000 worth of assets at a single time within 24 hours must be reported in Form 8300 with the IRS. Oxford Gold Group representatives can help with this process.

How to Open a Precious Metals IRA


Oxford Gold Group strives to make the rollover and new account process as simple as possible, intending to complete the application process in less than fifteen minutes.

The application for a new self-directed IRA or a rollover IRA can be completed over the phone by an Oxford Gold Group partner.

man looking at a clipboard

Signing and submitting a form of identification is all that is required after the application is completed.

Once this is done, a new IRA account can be opened within 24 hours of receiving the necessary paperwork and funds. 

Your current IRA custodian will be contacted by Oxford Gold Group to set up the transfer of funds into your new account if it is a precious metal rollover IRA. It usually takes three to ten days for custodians to complete the transfer, but this can vary.

An Oxford partner will meet with you to go over investment options for the IRA's first precious metal purchases after the funds have been received.

Why Put Gold in Your IRA?


Individual Retirement Accounts (IRA) protect your retirement as well as your family's financial security.

These special accounts allow you to set aside tax protected savings that you can use in the future.   

With these long term accounts it's important to allocate a significant portion to assets that are solid and reliable, so you have a secure retirement. 

a couple listening to a financial advisor

You can have cash in an IRA, but that is devaluing at a rapid pace and inflation is out of control

You need an asset that's dependable, retains it's value, and even increases in value over time, and there is no better asset for this than gold. 

With the world's economy struggling through lockdowns, shortages, wars, and inflation, uncertainty has never been higher and investors are protecting themselves by placing physical gold in IRA's. 

A gold IRA investment prospers from these crisis that negatively affect most other assets. 

Risk is knowing the economic dangers and doing nothing to protect yourself and your family. 

Safety is knowing the economic dangers and taking action to protect your financial future, and this easy to do with a Gold IRA.

Complaints


The Oxford Gold group has a 4.9 out of 5-star rating from TrustPilot, with around 95% of customers saying the service is excellent, and around 5% saying it is great. This is not to say the company is without its issues, however, no company runs 100% smoothly.

The company has a 5-star rating with the Better Business Bureau which logs official complaints, but the main issue cited by users has to do with the limited hours of customer service, not necessarily the operation or delivery of the company itself.

As of the writing of this article, only one customer had a complaint, citing an issue with having money refunded.

Real Reviews


"My purchasing experience was pleasant and efficient. Mike Malek was courteous, informative and professional every step of the way and delivered everything as promised. I plan to do more business with them in the future and will continue to recommend Oxford Gold Group to others."

- Anne D. rating 4 out of 5 stars on TrustPilot

"Great company to deal with. They were great communicating with us and keeping us up on details regarding our order."

- Glenn V rating 5 out of 5 stars on BBB

Frequently Asked Questions


  • Where can I store my precious metals?

Oxford customers have the option of either storing their metals for free through OGG’s partnership with Delaware Depository or at home or some other location.

It is not recommended that the metals be stored at home, however, for the security risk, this poses. Keep in mind that many homeowners’ insurance policies do not cover the theft of precious metals in the event of a robbery.

Metals can be stored in safe-deposit boxes in banks, though this often comes with a fee, whereas Delaware Depository is free through Oxford.

It is also worth noting that if your metals are held in an IRA, the IRS does not permit them to be held at home or in a bank safe deposit box.

  • How much of a risk are gold IRAs? 

Any investment comes with a certain amount of risk, and investment in precious metals, while perhaps more stable than other investments, carries risks as well.

Like any asset, the price of precious metal rises and falls with external factors, making it impossible to issue any sort of guarantee on the investments.

Between 2010 and 2011, gold experienced a large rise in value, followed by a downturn that took several years from which to recover.

Most investment strategists encourage a long-term approach to investment, and precious metals, when viewed over several years, have been steadily rising in value, making them more of a responsible investment than perhaps investing in a speculative startup company. 

  • What type of self-directed IRAs does Oxford Gold Group offer?

The customer has several options available if looking to roll over into a gold IRA, including 401K plans, Roth IRAs, SIMPLE IRAs, traditional IRAs, and SEP IRAs.

An Oxford Gold Group representative can assist customers in making the correct choice for their personal needs, though it is highly recommended that the individual do his research into the differences in these accounts first before making a decision. 

  • Should I find a custodian for my IRA?

STRATA and Equity Institutional for Precious Metals IRA regulate custodian services for IRAs, and Oxford Gold Group works with these entities.

The IRS also maintains a list of approved custodians for IRA accounts if you are so inclined to employ one.

However, if you feel that you do not have the time to pay attention o your IRA and would like to employ another entity to do so, make sure they are approved by the IRS to act as IRA custodians.

A custodian is recommended for anyone who does not have the time, educational capacity, or legal status to govern their financial affairs. An example of this would be an account for a minor child.

  • How often do gold prices change?

Gold prices fluctuate due to a combination of supply and demand, as well as buyer views and behavior. However, unlike paper money, the gold supply does not fluctuate significantly over time, therefore its value remains relatively stable.

Pros & Cons


Pros

  • The company specializes in the transaction of precious metals, making the process less complicated for the first-time buyer.
  • The owners have several decades of experience in the field
  • The company offers secure shipment of physical products directly to the customer.
  • One-on-one service with a company representative ensures the buyer is getting exactly what he needs.

Cons

  • Although the company offers gold IRA accounts, presently there are only two employees able to handle these transactions.
  • Customer service is only available at certain times on the weekdays

Summary

When Oxford Gold Group was formed, it was done with the understanding that the owners would take their experience working with other metal firms and deliver their brand of knowledge and customer service for a lower cost.

The Group reached out to form partnerships with storage companies and custodians to give their customers secure and simple options for purchasing and storing their metals, which also allowed Oxford Gold Group to offer precious metal IRAs to customers with lower setup fees and fewer complications.

If investing in precious metals as a form of retirement plan sounds like something you would like to pursue, the representatives at Oxford Gold Group are equipped to answer questions and guide you through the process.

A personal quote can be had through their website, or by calling 888-200-5586.

While Oxford Gold Group is an ok company, we think there are much better options for investors that want to buy gold or set up a tax advantaged precious metals IRA that we discuss in detail on this website.

You can get a Free Gold Investors Guide from our top gold and precious metals company recommendation or you can read our article of the top companies we review this year:

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