Oxford Gold Group's specialty is helping retiree investors convert their current eligible 401k plan and more into a precious metals IRA.
And they promise to enable them to do so with quality service and at the most favorable pricing compared to their competitors, even if you opt to have your precious metals delivered to your door.
Our test of Oxford Gold Group in short
Company name: Oxford Gold Group
BBB grade: A+
Summary: Oxford Gold Group provides some of the most informative education of all the precious metals company sites we've come across thus far, and they are also shown to provide excellent support from account setup to retirement, which makes us want to recommend them as one of the best companies to work with.
However, because they have more than 10 complaints from members stating they never received their metals, we suggest you proceed with them using your own cognizance.
Should you work with Oxford Gold Group in 2023?
We understand how difficult it is to choose a reliable company to work with. For that reason, we created a list of gold IRA dealers that we think are best to avoid. Click on the button below to make sure Oxford Gold Group isn’t one of them and discover our top 3 recommendations for this year.
Learn All There is To Know About Precious Metals Before You Invest
The company also states that to make investing in precious metals accessible to everyone, it also provides learning resources on its page. This way, no matter your level of knowledge, you can still learn how to acquire them as part of your IRA.
Users can also sign up to receive the company's brief, easy-to-understand investment guide, which was carefully developed by their own team of experts to help take the guesswork out of the precious metals market for more confident investing in them toward a brighter retirement.
Expert Guidance With the Utmost Care and Precision
Each of their members is also partnered with an account specialist to accompany them throughout the IRA setup process to help ensure it is done correctly to prevent delays and investment issues later.
Check Current and Historical Precious Metals Value Using their Charts
Oxford Gold Group also provides various charts on its website, including a normal gold price chart, a historical gold performance chart, a historical annual performance chart, and a table for the spot price of all precious metals the company sells.
This way, investors and potential investors can use them to track the latest increases and decreases in the spot price of a troy ounce of gold.
You can also contrast the current value to the historical ones to determine a good time to invest and trade.
A BBB Accredited Company
Oxford Gold Group is also accredited by the Better Business Bureau (BBB), which means it meets its standards as an ethical company.
They also have an A+ rating with the BBB, which is their highest rating based on their degree of confidence in a business based on their practices.
Oxford Gold Group’s pros :
Devoted to Providing Friendly, Honest, and Efficient Services
The company states that because it understands that its clients' success depends on making the right choices, they can expect nothing but honest service from the company to help them make the most informed decisions.
They also boast that their members never have to feel pressured to make choices outside their comfort level because their IRA account managers are specially trained to be open to and address all concerns.
The company also promises to provide prompt and effective service because they value your time.
They Offer Metals in Various Sizes, Shapes, and Weights
When you get precious metals from Oxford Gold Group, you can choose them in various types, including:
- Gold coins
- Gold bullion
- Gold rounds
- Silver coins and bars
- Platinum coins and bars
- Palladium coins and bars
However, if you are obtaining them as part of your IRA, the IRS states they must also meet its requirements for purity and fineness, which is at least 99.5% for gold and 99.9% for silver (click here to see our list of the best silver IRA dealers). If you're wondering, yes, the firm also offers IRS-approved precious metals.
Tailored Investment Strategies
The company states that it also understands that another key to its clients' success is having an investment strategy that works for them.
Hence, their staff takes time to learn each of their applicants' goals and then helps them develop an investment plan that accomplishes their specific needs.
They state that this is true whether you are new to investing in gold, silver, and other precious metals or you have prior investing experience and are just looking to add inflation protection to your retirement portfolio.
Their entire staff is also comprised of experts in the field for sound, trustworthy guidance.
They Do have a Buyback Program
Whenever you are ready to sell your gold, silver, platinum, or palladium coins and bars, the organization states that, in most cases, it will gladly acquire them back from you.
In fact, they state that their repurchase program is designed to help make selling your precious metals simple by enabling you to do so within the company.
And they also promise to get them back with no questions asked for a hassle-free transaction.
They Work With Brink's and Delaware Depositories
As an owner of a self-directed precious metals IRA, you must choose a secure, third-party depository to store your gold, silver, platinum, and palladium because you are prohibited by the IRS to take possession of them.
That said, Oxford Gold Group partners with both Delaware Depository Service and Brink's Global Services as their preferred depositories. Hence, as a member, you will get to choose between the two as your preferred choice.
Both depositories are privately owned and chosen for their maximum security and climate-controlled storage facility.
They both also provide additional protection via comprehensive insurance coverage, so you can rest assured your investment is secure no matter what.
Non-IRA assets delivered straight to your door
When you opt to obtain precious metals from Oxford Gold Group independent of an IRA, the company will have them delivered straight to your door in a discreet package.
The company also states that its shipping practices are designed to ensure your holdings are delivered safely to you, so you don't have to worry if you will receive them or not.
Meanwhile, their secure packaging practices ensure your order will arrive in great shape.Your delivery is also provided free of charge.
Their cons :
You Have to Call the Company to Get Their Costs
The team at Oxford Gold Group state that they pride themselves on being transparent in all of their services and fees, so there are no surprises later.
However, you have to contact the company directly to get their fees because they are not listed on their site.
They also do not list their minimum required investment like APM ($50k) or Goldco ($25K), so be sure to also inquire about it when contacting the company.
When you contact them, they state that you also do not have to worry about feeling pressured to act because they want you to feel confident and comfortable contacting them for more information.
Some costs to expect as part of your gold IRA include an account setup fee, transaction, and fees charged by your custodian for overseeing your account and depository costs.
They Don't State Which Custodians They Work With
The company also does not include a list of the custodians they work with, which is important because they are required by the IRS to make your gold, silver, and other precious metals purchases on your behalf and see to it that they safely reach the depository for storage.
It is also the custodian's task to manage any paperwork and IRS reporting henceforth.
However, all custodians are not the same, nor do they provide the same services or charge the same amount.
Therefore, it would be nice to know who are their preferred custodians, so you can learn a bit about them and feel more confident when deciding which one you want to work with.
Again, they state that they will provide you with all the information you want to know about their company when you call them, so do not forget to also ask about their chosen custodians.
Is Oxford Gold Group a Scam?
Given that this group is a Better Business Bureau accredited company that also holds its highest rating of an A+, it is most likely that it is not a fraud.
This is because the BBB bases its company score on several important factors, including public data obtained from various other reputable sources.
We also scrolled through their top few member testimonies on the site and found that Oxford Gold Group sounds legitimate.
Trustpilot is another well-known site for checking a company's background with real users.
So we also looked up Oxford Gold Group's reputation on that site and found no testimonials that stood out concerning the company being a fraud.
The company's name also came up on the Consumer Affairs site, so we also pulled up their page there and found no complaints.
No search results of the company were returned for any lawsuits with the Attorney General or any other .gov site, as well.
So based on sound research, we agree that Oxford Gold Group does not appear to be a scam.
How is their customer Support?
The Company's Promise Concerning Their Support
Members of the company are also promised superior customer support. One way they state that they help ensure this is by providing you with continued access to their customer service specialists, who are always standing by to assist you no matter your questions or concerns for maximum customer satisfaction.
Then, when you are ready to take your distributions, you will also benefit from ongoing support from their full team of experts, which includes investors themselves and more, to help guide you in making the best decisions for a comfortable retirement.
So what are their customers' feelings concerning their support?
What Customers on the Better Business Bureau Site Have to Say
On the BBB site, one person expressed how helpful their company representative was in seeing them through the entire account setup process, even explaining the various options available to them, for an overall first-rate customer experience.
Meanwhile, another user hailed their account specialist for taking the time to answer all of their questions, so they felt more confident investing, which made the company awesome to work with.
What Customers on the Consumer Affairs Site Have to Say
On the Consumer Affairs site, which includes over 50 consumer comments for Oxford Gold Group, one verified member shared how outstanding their experience was with the company and how well informed they kept them throughout the process for great service and added value.
What One Trustpilot user Had to Say
Lastly, a Trustpilot verified user stated how honest their account manager was in the advice they provided, which helped them make the best solution for their needs. They also shared that they were prompt in getting back to them after leaving a phone message and felt they always looked out for their best interests.
After checking Facebook, we found that customers there also had nothing but positive things to say about the company's customer support.
So overall, we gather that the company's stated goal to provide excellent support is paying off.
Have There Been Any Complaints About Oxford Gold Group?
Better Business Bureau Complaints
Though Oxford Gold Group has a majority of positive testimonies across various well-known sites, they also have at least 10 complaints on the BBB, which were filed within the last 3 years.
Of the complaints, we found that most involved customers stating they never received their precious metals shipments or that they never arrived at the depository when promised, which made them want their money back.
Many users also stated how their calls to the company were not returned when they tried to contact them to resolve their issues. However, they also stated that after filing a complaint, the company was quick to address their problems.
As a matter of fact, the BBB site shows that, of the 10 complaints filed against the company, 9 of them were resolved in the past year. It also shows that Oxford Gold Group has a 100% business response rate, which shows they are willing to resolve any issues.
Consumer Affairs Complaints
On the Consumer Affairs site, we found at least 2 users that also complained about how long it took for their precious metals to ship.
Consumer Advocate Complaints
Of the 7 reviews on Consumer Advocate, there was also one person that stated they never received their precious metals shipment.
Oxford Gold Group also has over 150 feedback on Trustpilot, where we were only able to find 1 complaint, which resulted in them leaving the company 4 stars out of 5 stars, like the majority of customers on the site.
They stated that their issue with the company concerned a cleared check notification they never received; however, everything was okay from then on.
However, we found no complaints about the company with Business Consumer Alliance, where they hold an AA and overall 5-star score based on 36 comments. Nor did we find any complaints about Oxford Gold Group with Trustlink.
Final thoughts about this audit
Very Informative Site
We love how Oxford Gold Group doesn't just state that they want to help their members understand precious metals and how to invest in them as part of their retirement plan, but they actually provide them with some of the most informative site information and learning resources to back it up.
In fact, we were so impressed with the amount and type of information provided on their site that we even found ourselves lost in some of their pieces and learning a bit more about precious metals. The information was also easy to follow and process.
Hence, ultimately, it makes the company feel more trustworthy and that they really do have your best interest in mind.
Over 150 Positive Comments to Back Up Their Claims of First Rate Customer Support
The company's more than 150 feedback across various sites also confirms their customer support is good, which is important when investing large sums and toward your retirement, so you can rest in peace that your investments are in the right place for the long haul.
It also helps make adding investments to your retirement plan fun and exciting as it should be.
We also like how Oxford Gold Group prides itself on providing ongoing customer support both the initial account setup up until you retire, so you are never left alone along the way and feel good about their service all around.
We are Concerned Over the Number of Testimonies Stating They Never Received Their Precious Metals
Although only about 10 out of hundreds of satisfied users have shared complaints about Oxford Gold Group, the fact that they all had the same complaint about not receiving their assets was cause for concern for us.
Hence, even though, overall, we highly recommend them as a precious metals company to consider working with, it just may not be worth it if you are worried about receiving your precious metals, which is what we fear may be the issue in some cases based on the number of clients who had it happen to them.
Would you rather invest in silver?