You have probably been reading a lot lately about the importance of diversifying your investments with gold or other precious metals. With the stock market up one day and down the next, there are many people in the know who are suggesting that we consider adding precious metals to our portfolios. This prompted us to look into a company called the Oxford Gold Group, and below is a breakdown of what we learned.
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Overview of the Oxford Gold Group
Oxford Gold is a U.S. based precious metals dealer. Its headquarters are in Los Angeles, CA. The company was launched in 2017. You can buy any one or more of the following precious metals directly from them:
They offer a few other services in addition to selling gold and the other metals. The company will also buy your gold. There is one important caveat if you are planning to sell your gold. Most of these types of gold buying companies are not going to offer you what it would cost you to replace your item. We will get more into this later on in the "pros and cons" section.
How Buying Gold From Oxford Gold Group Works
Their customers can buy most any type of precious metal products online. They offer a wide variety of gold and silver coins that are priced according to their weight. You can also purchase larger quantities in bars and bullion.
The company will ship out your order to anywhere in the country. Oxford Gold Group also offers storage service if you prefer to store your gold in their secure location. Typically, the customers who choose this option are people who buy large quantities of precious metals in their Oxford Gold Group IRA.
Retirement Accounts at Oxford Gold
This service is an option for investors who want to add precious metals to their individual retirement account (IRA). This service attracts many consumers who want a diversity of holdings as a part of their retirement planning. The company advertises that it is easy and convenient to open a gold or silver IRA account through them.
Once you open an account at Oxford Gold Group, you can fund it by transferring money from your existing account into your new gold IRA. The Oxford Gold Group manages thousands of gold and silver IRAs on behalf of their customers. You can place your own buy and sell transactions, and the firm will help you develop an investment strategy.
The staff is constantly researching the precious metals market. This is a convenient feature especially if you do not have the time, skill level or inclination to spend hours doing your own research. The company seems to take this responsibility very seriously.
If you are a customer with Oxford Gold Group, you get access to a wide range of resources. They encourage their investors to take full advantage of these resources. They strive to help educate their customers in order to help them make better gold investing decisions.
One of the resources offered by the firm is free for the asking whether you are an active customer or not. It is a beginner's guide about investing in gold, and it includes their recommendations of using precious metals to help grow your retirement savings. They further explain how gold can help you protect your assets during inflationary periods in the economy. Their guide also offers suggestions on how to open your self-directed gold or silver IRA or 401K.
The individuals who started the company have about 20 years of experience working with investment products, including the precious metals. They talk about one of the reasons they wanted to open their own firm. The founders were working in brokerage firms, and these places charge their clients high fees. They wanted to offer the same level of service and expertise but at lower management fees.
The company also stresses the importance of personalized service. They do seem to be genuinely interested in educating their customers. It's a young, privately owned company, and perhaps that's why they can "think outside of the box" as a way to add value to the customers experience.
For example, they are currently advertising a special for new customers. We would always advise you to read the small print, especially when a company is offering something for free! They put together some exclusive offers for free gold when you fund your IRA account.
Is Oxford Gold Group a Scam?
It's always wise to research a company before you entrust them with your hard-earned money. If you read their advertising, Oxford Gold Group claims to be the trusted source for gold. They are one of the leading precious metals companies in the United States.
One of the main things you need to remember is that no one can predict where the price of gold and silver will go. It's true, the numbers are pretty rosy right now. Many experts are in agreement that the inflation rate has already gone up since January of 2021. Stocks can generally get hit harder from rising inflation than gold which historically has shown to sometimes better weather the storm.
No matter how well-meaning a precious metals company may be, they are in business to sell you precious metals. If you are interested in buying gold and you have the assets to take a chance, it's probably prudent to start slowly. In other words, do not put all of your eggs in one basket. With that in mind, Oxford Gold Group is as good a choice as any other company.
The next area we delved into was the customer reviews of Oxford Gold Group. There are mzny online reviews, and one topic was consistently mentioned. Most of their customers noted that they are satisfied or very satisfied with the compzny's level of customer service. The people they deal with at the company are friendly and knowledgeable. They are able to ask questions, and they do not feel pressured to buy anything.
Some other customers like that gold is an investment they can actually hold. That is an advantage that you do not get with mutual funds and the other investment products in your IRA or brokerage accounts. For many of the reviewers, this was the first time they have purchased any precious metal as an investment.
The overwhelming number of customer reviews are positive. A large number of customers indicate that they will continue to do business with Oxford Gold Group because they have had a good experience with the company. At this time, the firm has received an overall rating of 4.8 stars out of five. There is no information available that would indicate that Oxford Gold Group is a scam.
The Pros and Cons
It should come as no surprise that there are advantages and disadvantages that you should know.
Earlier in this article, we mentioned about selling your gold to a company that buy gold. Please consider this example. When you bought your gold, you most likely paid market or what would be considered retail price. Let's assume that you own a piece of gold that cost you $2,000. Like many consumers, when you attempt to sell the piece to a professional gold buyer, you expect to get $2,000 for it, right?
You may be in for a surprise when you sell your gold to Oxford Gold Group. Their cash offer for your gold might be much lower than you expected. In all fairness, it does not mean this company is not giving you a fair price. You could have the same experience with the other gold companies. They all work within a profit margin, so the only way they can make a profit is to buy low and sell high.
Compare this to when you are selling a share of stock. The stock has a qualified value when you go to sell it. If the stock is currently trading for $75 per share, that is the value you receive when you sell it. If you choose to buy more, the price you pay is $75 per share. An individual stock is valued based upon the performance and growth of the corporation. This differs from the gold market, but it does not mean that you cannot make money in the precious metals M market. In fact, many people have.
Timing is key when you enter the gold market, and that is where a company such as Oxford Gold Group can be helpful. Their team of researchers watch the market much more closely than the average investor. They are committed to helping their customers reach their objectives.
The company has a large presence online, and they also advertise regularly on many forms of media. Oxford Gold has thousands of satisfied customers, and the company has grown rapidly in its first four years. They do a very good job of marketing their physical and monetary gold, and they look to be in a good position for even more growth in the future.
In conclusion, we were not able to uncover anything particularly negatives about this company. They deliver on what they promise, and they do not over-promise unrealistic results. Oxford Gold Group makes it easy for novice gold investors to start slowly. Their precious metal coins are affordably priced, and there aren't any minimum purchase requirements. They work hard to earn your trust and confidence. At this company, the team understands that relationship building is the best way to earn a customer's loyalty for many years to come.
They are proud of the fact that they have so many customers who have been with them since day one. There are many other precious metals companies in the U.S., but some of them have a less than sterling reputation. Many Oxford customers say that they will not do business with any other precious metals company.
New customers can call Oxford Gold Group for a no-obligation consultation. They will explain how to rollover your IRA into a tax-deferred gold IRA and much more about their other services. The company offers the highest quality of gold, silver, platinum, and palladium products. The shipping is free, and your order will arrive promptly in highly secured packaging. We browsed around their site, and their product descriptions are very thorough and helpful. The Oxford website is very easy to maneuver, and the gold buyer's guide is well written and professionally presented. The guide has many interesting and educational facts and includes historical data about gold market trends.
Although we do think that Oxford Gold Group is a very solid company, we believe that there are better companies out there to make your investment with.
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