Is OneGold Truly Authentic? A Closer Look

As one of the leading digital purveyors of precious metals in the US, OneGold has earned considerable popularity. Their two-decade-long presence and significant customer base make them a preferred choice for those contemplating a maiden investment in precious metals. However, does their credibility truly stand up to scrutiny?

Numerous enterprises need to catch up to the point of barely accruing any customer feedback. That's not the picture with OneGold. It's relatively straightforward to delve into previous customer encounters. Let's juxtapose these testimonials with the company's practices and discern if there's alignment.

About OneGold

OneGold is an enterprise committed to offering precious metals via its digital marketplace. They aim to serve as a trusted platform for virtual and tangible investment in the precious metals sector.

A brainchild of two allied firms, OneGold unifies the assets, proficiency, and sector-specific knowledge of Sprott and APMEX.

Established by Scott Thomas in 1999, APMEX has grown to become a reputable business headquartered in Oklahoma City. A global customer base exceeding 1.5 million demonstrates the company's broad reach in the international precious metals dealership market.

Since its inception, APMEX has recorded sales surpassing 10 billion dollars in precious metals, averaging an impressive 500 million in annual sales. Their industry standing empowers them to remain at the vanguard of the competition.

APMEX offers diverse products, and the company provides various services to guide novices entering the precious metals sector.

Conversely, Sprott concentrates on non-traditional investments. Despite precious metals forming part of its alternative asset portfolio, the company's primary focus is the purchase and retention of tangible assets such as real estate and precious metals.

Sprott, founded by Eric Sprott in 1981, manages roughly seven million dollars in consumer assets and serves 200,000 clients worldwide. The company has a presence chiefly in Canada, the United States, and select Asian regions through its subsidiaries.

Available Products

The marketplace showcases a diverse range of products. For U.S. customers, there's an opportunity to buy platinum, gold, and silver. The in-house team at APMEX curates all these offerings for the U.S. market.

Several U.S. partners collaborate with OneGold, including Brinks, APMEX, and Loomis. Utilizing these companies assures that your purchases are securely stored post-acquisition. The ideal vault partner may differ based on your geographical preference and storage requirements.

Regardless of the chosen vault partner, your items will be held separately. Lloyd's of London, a leading global insurer of precious metals, provides an insurance policy to each customer.

Vaultchain

Vaultchain is a digital offering provided by OneGold, initially conceptualized by TradeWind. This offering enables individuals to possess both digital and physical assets. Vaultchain lets you buy physical gold and store it in a digital vault.

Every asset procured via the Vaultchain platform is vaulted with the Royal Canadian Mint. Unlike specific digital metals platforms, this service ensures you can have your physical metals delivered if you opt to cease using the service.

No administrative or management fees are charged for using Vaultchain. You can acquire both gold and silver. The app provides information on the value of your holdings, previous transactions, and investment growth over time. You can use the platform to gain valuable insights about the performance of your precious metals.

Other Products

The company also offers products from Canada, the United Kingdom, and Switzerland. These include investment-grade physical precious metals. You acquire a fractional share of a pooled quantity of assets, such as gold and silver bars.

When you buy these products, you're sourcing them directly from a wholesaler. As a result, you bypass the premiums usually associated with smaller gold sellers.

Unveiling the Method: A Detailed Guide

Initiating your journey with the OneGold marketplace commences by setting up an account on their website. This creates a personalized profile and a unique login credential, granting you access to the trading platform.

After this setup, you can explore the various online products. This ranges from bars and coins of silver and gold. You'll also get to select your preferred storage location in the U.S. or Canada.

OneGold provides a diverse range of payment methods for purchasing items. You even have the option to pre-fund your account before finalizing a purchase, ensuring you have the necessary funds when you've decided on your ideal precious metals.

Automatic Investment

You're also given the option to participate in an automatic investment program. This facilitates the monthly purchase of a fixed quantity of precious metals on your behalf. If you continually aim to acquire precious metals, this automated system eliminates much of the time and inconvenience.

The automated investment program provides two options. You can select a specific volume of precious metals, such as a few grams of silver or gold. Alternatively, you can allocate a fixed spending amount on precious metals, irrespective of their market value. The frequency of automatic investments can also be adjusted.

Storage

After acquiring your precious metals, they're stored in secure vaults in the U.S. or internationally. You'll have an array of depository partners to choose from. Each account is fully insured, offering you a refund in case of any loss or damage to your metals.

You can view your vault contents online as you progressively accumulate more precious metals. Your account dashboard provides information about the value of your holdings, the investment change over time, and insights into your precious metals' future.

Your items are stored digitally. However, when you wish to exchange them for physical precious metals, you can use the online redemption tool. The physical items purchased are delivered to your door in insured packaging. Alternatively, you can convert your digital holdings into liquid cash.

Mobile App

The company has developed a mobile app to provide users with access to the precious metals marketplace on the go. With the app, your account dashboard is at your fingertips, keeping you updated on your holdings.

Though the app is relatively new, it has been praised for its sleek design and user-friendly interface. You can access information about the marketplace, peruse various products for sale, and monitor the performance of your holdings.

IRA Services

OneGold does provide services for precious metals IRA. You can leverage the online marketplace if you wish to initiate a self-directed IRA funded by precious metals. The company collaborates with two favored custodians: Preferred Trust Company and Strata Trust.

Each custodian presents different account maintenance fees. A comparison between Strata and Preferred Trust is necessary to identify the fee structure that best suits you.

To avail of the IRA services, the following steps need to be taken:

• Contact one of the company's partner custodians to form your self-directed IRA.
• Top up your account through a bank transfer or by rolling over funds from an existing 401(k) or IRA.
• Establish a OneGold account to start buying IRS-approved precious metals from the online marketplace.

Are These the Best IRA Services?

The IRA services provided by OneGold could use some improvements. They offer different ease of use or smooth processes than some competitors. If you intend to open a precious metals IRA, opting for a company that specifically caters to this might be advantageous.

When a company is specialized, they're better equipped to guide you throughout the entire process. They can also liaise with your custodian and sort your paperwork. This results in a much less complicated and less burdensome process than when engaging with OneGold.

Indeed, some firms boast in-house teams of IRA specialists.

Pricing and Fees

The pricing of products and the storage cost must factor into your purchasing decision.

Product prices on the OneGold marketplace fluctuate based on the gold and silver market values. Cross-verifying these prices against their competitors is crucial to ascertain whether you're genuinely bagging the best bargain.

OneGold posits that they can provide lower prices than their competitors as they source from wholesalers. Such wholesalers supply large quantities of precious metals at a more affordable price than standard dealers. OneGold uses your funds to finance a share of these sizeable acquisitions.

However, to view the trading value of various precious metals, you need to create an account and access the marketplace. Some other firms display transparent pricing on their website without any account setup requirement.

Storage Fees

You're presented with numerous storage options when purchasing precious metals for digital storage. The fees are proportional to your holdings. This could be a potential downside as your fees increase with the growth of your account.

Some firms offer fixed annual storage fees. These give you a clear understanding of your annual expenditure.

A handy feature on OneGold's site is the fee estimator. By entering your investments, the calculator provides a realistic storage and other fees forecast. This way, you avoid surprises or concealed charges often imposed by unscrupulous companies.

You'll be charged 0.12 percent of your holdings annually for gold storage. This rate jumps to 0.30 percent of your holdings for both silver and platinum. Silver incurs a higher cost as it occupies more space, while platinum is pricier due to its rarity in comparison to gold.

The company has also listed a table illustrating potential fee expenditures over time. You may qualify for reduced annual fees upon reaching a specific dollar threshold.

Switch and Save

The Switch and Save program may benefit some individuals. When you buy a U.S. product from the OneGold marketplace, this feature can earn you up to 250 dollars per transaction in reimbursements. This aims to minimize any dissatisfaction linked with transitioning your existing gold accounts.

This option is for those with precious metals holdings stored in the U.S. You only need to contact the company by phone or email, expressing your wish to shift to their dealership.

You'll then liquidate your current assets, withdraw the proceeds, and inject your OneGold account with the funds. Upon providing the company with your invoice, you'll receive an account credit applicable to your U.S. product purchases.

OneGold's Legitimacy: Valid Concern or Mere Suspicion?

OneGold is far from being a fraudulent operation. It has been a successful entity for 21 years and earned accreditation from the Better Business Bureau in 2018, boasting an impressive A+ rating. The BBB website reveals 18 customer evaluations, averaging 4.28 out of 5 stars, demonstrating high customer satisfaction.

Furthermore, the firm maintains a strong reputation on the independent website, Shopper Approved. Over 7,000 testimonials grant an average rating of 4.8 out of 5 stars.

Some skepticism has surfaced regarding the authenticity of Shopper Approved adverts, primarily due to customers leaving a single company review. However, the sheer volume of positive, verifiable feedback renders these doubts minor.

Like any firm receiving this volume of reviews, some negative ones exist. Let's delve into the unfavorable and favorable feedback from customers.

Customer Feedback

Negative testimonials often highlight essential details, alerting you to reasons for dissatisfaction and potential recurring issues or warning signs.

OneGold is far from being a fraudulent operation. It has been a successful entity for 21 years and earned accreditation from the Better Business Bureau in 2018, boasting an impressive A+ rating. The BBB website reveals 18 customer evaluations, averaging 4.28 out of 5 stars, demonstrating high customer satisfaction.

Furthermore, the firm maintains a strong reputation on the independent website, Shopper Approved. Over 7,000 testimonials grant an average rating of 4.8 out of 5 stars.

Some skepticism has surfaced regarding the authenticity of Shopper Approved adverts, primarily due to customers leaving a single company review. However, the sheer volume of positive, verifiable feedback renders these doubts minor.

Like any firm receiving this volume of reviews, some negative ones exist. Let's delve into the unfavorable and favorable feedback from customers.

Customer Feedback

Negative testimonials often highlight essential details, alerting you to reasons for dissatisfaction and potential recurring issues or warning signs.

Advantages & Disadvantages of Engaging with OneGold

Advantages

• Countless stellar customer testimonials.

• Opportunity to cash out or retrieve metals whenever desired.

• User-friendly trading platform and mobile application.

 Disadvantages

• The necessity to establish an account to browse the marketplace.

• Storage expenses are proportional to value, not a fixed rate.

Final Thoughts

OneGold serves as a dependable platform for buying valuable metals. Its digital assets offer ease, but you can effortlessly liquidate them whenever required.

However, dealing with a company that exclusively focuses on this area may prove more straightforward for IRA investment.