What is Oxford Gold Group?
Oxford Gold Group is a precious metals dealer in Beverly Hills, California, that specializes in helping individuals and institutions acquire gold, silver, platinum, and palladium coins and bars for investment purposes.
The company was founded in 2017 by partners with over 20 years of experience in the precious metals industry, who were frustrated with the high brokerage commissions charged by other companies. Oxford Gold Group prides itself on offering competitive pricing, exceptional customer service, and educational resources to help clients make informed investment decisions.
In addition to precious metals products, the company also offers precious metals IRAs, storage, and shipping services.
This review will focus on helping you determine if they are worth your time or not. Also, you’ll learn what their customers are saying online. So, read on to find out more:
People Behind Oxford Gold Group:
The company’s management team includes Mr. Pedram Granfar as CEO, Mr. Patrick Granfar as President, and Mr. Johnathan Adler as CFO. These individuals also serve as customer contacts for the company. Oxford Gold Group primarily focuses on providing individual investors with the opportunity to invest in tangible assets, such as gold, silver, platinum, and palladium coins and bars. Moreover, the company offers precious metals IRAs, storage, and shipping services.
Regarding refunds and exchanges, it appears that the company’s policy requires you to make the request within 10 days of the purchase or receipt. Clearly, you should be extremely careful while going through T&Cs of such companies.
How to Invest in Oxford Gold Group IRA?
Investing in an Oxford Gold Group IRA involves the following steps:
- Determine if a precious metals IRA is right for you: Before investing in a precious metals IRA, it’s important to understand the risks and potential benefits of investing in precious metals. You should also consider your investment goals, time horizon, and risk tolerance.
- Open an account: If you decide to move forward with an Oxford Gold Group IRA, the next step is to open an account.
- Fund your account: Once your account is open, you will need to fund it. You can do this by transferring funds from an existing IRA, rolling over a 401(k), or making a cash contribution.
- Choose your investments: Afterwards, you can choose which precious metals products you want to invest in. Certainly, the company claims to offer many products.
- Store your investments: Once you have purchased your precious metals products, you will need to store them in a secure, IRS-approved depository. Also, Oxford Gold Group offers storage services to its clients.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer of your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
Oxford Gold Group Products:
Oxford Gold Group offers a range of precious metals products for investors, including gold, silver, platinum, and palladium coins and bars. Some of their products include:
- 1 oz Gold Bar: These bars contain one ounce of pure gold and are produced by reputable refiners such as PAMP Suisse and Credit Suisse. They are a popular choice for investors looking to add pure gold to their portfolios in a compact and easily tradable form.
- 10 oz Gold Bar: Similar to the 1 oz gold bar, but with a larger size and weight. These bars are also produced by reputable refiners and are often favored by investors looking to make larger gold purchases.
- American Gold Eagle 1 oz: These coins are the products of the United States Mint and contain one ounce of gold with a face value of $50. They feature a design of Lady Liberty on the obverse and an eagle on the reverse, making them a popular choice among both collectors and investors.
- American Gold Eagle Proof 1 oz: These are special versions of the American Gold Eagle, produced with a higher level of detail and a mirror-like finish. They are intended for collectors rather than investors. However, you can still buy and sell them for their gold content.
Some more Gold Products offered by Oxford Gold Group are:
- Gold Austrian Philharmonic 1 oz: These coins are minted by the Austrian Mint and contain one ounce of gold. They feature a design of the Vienna Philharmonic Orchestra on the obverse and a variety of instruments on the reverse. They are a popular choice among European investors.
- Gold Buffalo 1 oz: These coins are minted by the United States Mint and contain one ounce of gold. They feature a buffalo design on the obverse and an Indigenous Peoples of America on the reverse. They are a popular choice for investors looking for a patriotic American coin.
- Canadian Gold Maple Leaf 1 oz: These coins are minted by the Royal Canadian Mint and contain one ounce of gold. They feature a design of Queen Elizabeth II on the obverse and a maple leaf on the reverse. They are a popular choice among Canadian investors and are known for their high level of purity and quality.
- American Silver Eagle 1 oz: These coins are minted by the United States Mint and contain one ounce of silver with a face value of $1. They feature a design of Lady Liberty on the obverse and an eagle on the reverse, making them a popular choice among collectors and investors.
- Silver Bar 1 oz, 10 oz, 100 oz: Silver bars are produced by a variety of refiners and come in various sizes, making them a flexible and versatile option for silver investors. Oxford Gold Group offers silver bars in one, ten, and one-hundred-ounce sizes.
- Silver Canadian Maple Leaf 1 oz: These coins are minted by the Royal Canadian Mint and contain one ounce of silver. They feature a design of Queen Elizabeth II on the obverse and a maple leaf on the reverse. They are a popular choice among Canadian investors and are known for their high level of purity and quality.
- America The Beautiful Silver Coin 5 oz: These coins are produced by the United States Mint and feature designs that showcase different national parks and other significant sites in the US. They are a popular choice among collectors due to their unique designs and larger size.
Some more Silver Products offered by Oxford Gold Group are:
- Silver Austrian Philharmonic 1 oz: These coins are minted by the Austrian Mint and contain one ounce of silver. They feature a design of the Vienna Philharmonic Orchestra on the obverse and a variety of instruments on the reverse. They are a popular choice among European investors.
- PAMP Suisse Silver Bar 1 kg, 100 oz: These bars contain 99.9% pure silver and are produced by PAMP Suisse, one of the most reputable mints in the world.
- Silver Round 1 oz: Silver rounds are similar to silver bars in that they are produced by various refiners and come in one-ounce sizes, but they feature a round shape.
- American Platinum Eagle Proof 1 oz: These coins contain one ounce of 99.95% pure platinum and are produced by the US Mint. They feature a design inspired by the Statue of Liberty.
- Platinum Austrian Philharmonic 1 oz: These coins contain one ounce of 99.95% pure platinum and are produced by the Austrian Mint. They feature a design of a big pipe organ of the golden hall at the Wiener Musikverein.
- Platinum Bar 1 oz: This is a 1-ounce bar made of 99.95% pure platinum, typically featuring a stamped hallmark and serial number for authenticity.
- Platinum Canadian Maple Leaf 1 oz: This coin issued by the Royal Canadian Mint, is made of 99.95% pure platinum and features an image of a maple leaf on the reverse side.
- 1 oz palladium bar: The palladium bar is made of 99.95% pure palladium and is produced by a reputable refinery.
- 1 oz palladium Canadian Maple Leaf coin: The Canadian Maple Leaf coin is also made of 99.95% pure palladium and features the iconic maple leaf design on the obverse and the effigy of Queen Elizabeth II on the reverse.
Both products provide investors with a tangible asset to add to their investment portfolios and can potentially provide a hedge against inflation and economic uncertainty.
Oxford Gold Group Fees and Charges:
Oxford Gold Group utilizes a flat annual maintenance fee structure for its precious metal IRAs, which ranges from $175 to $275 depending on the amount invested. This structure is possible because of the company’s partnerships with IRA custodians STRATA and Equity Institutional, which help standardize services and costs. Clients with larger accounts are eligible for rebates, reducing their maintenance fees, and these rebates can be used for multiple years. The average IRA client of Oxford Gold Group pays no maintenance or storage fees for the first three years under the rebate program.
The storage fees for precious metals IRAs vary depending on the vault depositories used by Oxford Gold Group. These fees typically range from $175 to $225 per year, but the company may offer rebates for one to five years depending on the size of the investment. There are no shipping fees associated with the storage of precious metals. Oxford Gold Group does charge commissions for buying or selling precious metals, but there are no brokerage fees. There are minimum purchase amounts required, with $7,500 for IRAs and $1,500 for non-IRA purchases. When it comes time to liquidate holdings, Oxford Gold Group offers both a buy-back program and a no-fee liquidation program.
Oxford Gold Group Reviews and Complaints:
On Google, Oxford Gold Group has 4.8 stars out of 5-star ratings based on customer reviews. There are a total of 177 customer reviews on Google, and most of them are positive, with customers praising the company’s excellent customer service, professionalism, and expertise.
Business Consumer Alliance (BCA):
On BCA, Oxford Gold Group has again 5 out of 5-star ratings according to 36 customer reviews. All of them are positive. Also, they have an AA rating on the website as a result.
Better Business Bureau (BBB):
On the Better Business Bureau website, Oxford Gold Group has an A+ rating. They have 4.93 stars out of 5-star ratings based on 88 customer reviews. Also, almost all of them are positive. Moreover, they have been in the industry for 5 years.
It’s worth noting that they have closed 16 BBB complaints in the last 3 years. Furthermore, they have a BBB accreditation as well.
On Yelp, Oxford Gold Group has 1 star out of 5-star ratings based on only 1 customer review. The review is negative. There, the customer says this company has a significant red flag for a potential scam. He also plans to report this business to the Better Business Bureau and the Federal Communications Commission (FCC).
On Consumer Affairs, there are 56 Oxford Gold Group reviews and an aggregate rating of 4.8. Also, the majority of the reviews are favorable.
On the Trustpilot website, Oxford Gold Group has 4.9 stars out of 5-star ratings according to 179 customer reviews. There, customers highly appreciate the company’s exceptional customer service, professionalism, and expertise.
Are There Any Oxford Gold Group Complaints? Should You Be Concerned?
Yes, there are plenty of Oxford Gold Group complaints available online. You’ll find them below:
#1. According to Cristian Pellissa, the company engages in extensive conversations with customers about various gold purchasing options but ultimately only cares about taking their money. They have not received any updates on their purchase in 16 weeks.
#2. According to Joyce, they searched for Oxford Gold Group AD online and called the listed phone number… However, as the phone was ringing, the number changed to… Joyce considers this a major red flag for a scam and plans to report it to the BBB and FCC.
#3. Jarrod stated that the sales environment at Oxford Gold Group is extremely pushy. The representatives appear to be more concerned about their commission than assisting clients in building a healthy portfolio.
#4. Kevin Schuler reported that he was charged over an 18% premium on his IRA conversion, and he believes that Oxford Gold Group is a complete scam. He warns potential buyers to be cautious.
#5. Tom Backus states that the website is extremely unhelpful. As it does not allow for ordering gold or silver, nor does it display gold prices. The only action one can take on the website is to request their pamphlet, rendering it utterly useless.
#6. Joe expressed dissatisfaction with Oxford Gold Group. As he has not received the five gold bars he ordered in February of this year. Despite being told that he should receive them within 4-6 weeks. He was informed that the bars were not yet available.
#7. Gray shares that he had a negative experience with them. Despite being promised several gold coins, they never received them. Gray believes that the company’s advertising is misleading and that they are not trustworthy.
Snippets of Positive Reviews from Their Customers:
#1. Ronnie C. reported that he found the Oxford Gold representative to be highly knowledgeable and easy to communicate with. The representative explained the various aspects of buying and holding gold and silver. Ronnie felt comfortable and impressed with the presentation.
#2. John R. states that investing in gold and silver is like a river full of kingfish and salmon, constantly flowing upward with high yields. The business is carrying its weight well, and gold and silver are on their second wind. With such positive trends, he foresees significant returns in the future.
#3. Steve Ostergard shared that he had a great experience with the Oxford Gold Group, and appreciated their excellent service. As a first-time buyer, he found Sam to be very helpful in understanding the process of buying precious metals, and Sam walked him through everything, explaining each step along the way. Steve expressed his gratitude and thanked Sam for his assistance.
#4. According to Nicole Smith, if you’re seeking an outstanding agent who is reliable, well-informed, and achieves results, then Matt is the person to go to! She’s definitely recommending him to her peers!
#5. Scott O states that the staff at Oxford Gold Group took the time to help him understand the risks and rewards of his investment. He did not feel pressured to invest more money and is very satisfied with the entire process.
#6. Carter C reports that he received excellent service from Oxford Gold Group, with prompt responses to his questions and concerns. He was highly satisfied with their service.
#7. Jacqueline L had a positive experience with Oxford Gold Group and found KC to be delightful to work with. She highly recommends the company.
Is Oxford Gold Group Legit? Should You Invest With Them?
No. I don’t think you should invest with them.
While it’s true that Oxford Gold Group is a legitimate precious metals dealer, it also has too many red flags.
Moreover, there are better alternatives to them available where you can get better services.
- Large product selection
- A+ BBB rating
- Relatively new in the industry
- Lack of transparency
- Clients have made serious allegations against the company
So, while I would say Oxford Gold Group is a prominent gold IRA provider, they are certainly not the best.
To learn about the best, I recommend checking out my top gold IRA recommendations.
There, you will also learn about the highest-rated precious metals companies of different US states.
Have you dealt with this company? How was your experience? Let us know in the comments!