What is onegold.com? Who are its owners? Does it offer IRA services? Welcome to today’s comprehensive review of a company that has been making waves in the precious metal industry. This review is info-packed and has a couple of tips to point you in the right direction as an investor!
Name of the company: OneGold
Official Website URL: https://www.onegold.com/
Owner: Founded by AMPEX & Sprott
Overall Rating : (4 / 5)
Important to mention (before we go into more details of this review)
We always strongly recommend doing your own research online before you choose a company to invest in. There are so many reviews online of clients being ripped off and scammed. So please investigate and compare different alternatives before you make your decision.
One example: 99.9% of companies got “pushy” salespeople trying to stress you into acting fast.
Here is the thing, the #1 Recommended Gold & Silver Investment Company on our top-5 list got Non-salesy representatives… So they won´t bother or terrorize you with phone calls.
You are a smart person, so I am absolutely sure that you understand the benefits of dealing with such a company instead, right?
+They have a couple of more benefits you might appreciate as much as I do.
==> See our Top-5 List of Precious Metals IRA Companies on this page <==
With that being said, let´s continue with the review on OneGold!
What is onegold.com?
OneGold is a renowned precious metal dealer that came to birth as a result of the collaboration of two companies, namely APMEX and Sprott. The two companies came together in a bid to leverage their combined expertise to tap into the potential customer base of precious metal investors. The company currently aims at delivering the best possible experience through its secure and convenient platform that allows customers to acquire precious metal products in stock.
As a customer, you can turn to this company if you are looking to curate your precious metal investment process in terms of security, liquidity, as well as vault locations.
Who owns OneGold?
As already highlighted, this company came into existence as a result of the joint efforts of APMEX and Sprott.
Sprott takes pride in being one of the most popular real estate and alternative asset managers on a global scope. It was founded back in 1981 by Eric Sprott, to serve a diverse clientele. As of now, this firm has over 200,000 global clients who have entrusted it to manage over $7,000,000 worth of assets. Its businesses are mainly located in the U.S., Asia, and Canada, from where they deliver world-class investment solutions.
APMEX is a precious metal dealer that is based in Oklahoma. It was founded back in 1999 by Scott Thomas, who set the foundation for its rise into its current status, where it has managed to earn more than $10 billion worth of revenues. This company has served millions of clients across the world, which is something that has contributed to it being perceived as an industry leader as far as the distribution of precious metals is concerned. It has a large collection of products and services which customers in this field can access.
How Does OneGold Work?
With the combined expertise in the delivery of services to customers, APMEX and Sprott teamed up to bring their objectives to life, i.e. enable more customers to own precious metals without any hassles. Here is the process that customers are required to follow:
- Create a OneGold account – You won’t pay anything to create the account, and it will only take a few minutes to set it up.
- Browse the existing products – This company stocks gold, silver and platinum products that you can browse as you seek to find the most suitable items to help you achieve your objectives.
- Prefund your account – you are required to send the funds to the OneGold account. If you are not up for pre-funding your account, you can simply proceed to lock in the pricing from the OneGold buy page.
- Buy – Customers can lock in buy orders at the current spot prices.
- Storage – If you do not want to hold the precious metals in a safe at your home, then all you have to do is request this company to securely store the precious metals in any of their vaulting partners’ vaults, which include:
-The Royal Canadian Mint
- All the precious metals that are stored by any of these vaulting partners are insured under the Lloyd’s of London.
**Also, read How to Convert my IRA to a Gold IRA
The products and services offered by OneGold
Products for the U.S. customers
Customers in the United States can purchase gold, silver, and platinum from OneGold. Usually, these products are sourced from APMEX, which as we already saw is a leading precious metal dealer. The products are securely stored with OneGold’s vaulting partners and are covered by an insurance policy. Since the items are stored in segregated vaults, you can be sure that the items you place in your vaults are the ones you will collect at the time you will need them for liquidation purposes.
Vaultchain precious metal products
OneGold also offers digital precious metal products referred to as “vaultchain gold and silver”. This is a product that was developed by TradeWindMarkets and has since become one of the most widely known gold and silver marketplaces online. Vaultchain has been viewed by some investors as one of the most innovative products in the digital asset industry.
The Vaultchain solutions are verified by the Royal Canadian Mint (which is responsible for the provision of storage services).
N.B: All VaultChain Gold Account balances are meticulously managed on the TradeWindMarkets blockchain, which is perceived to be a cryptographically secure database.
This company charges storage fees for the storage of the precious metal products that it has put up for sale. Here is how the storage fees are charged:
- Gold – 0.12% of the value of gold purchased
- Silver – 0.30% of the value of silver purchased
- Platinum – 0.30% of the value of platinum purchased
The minimum storage fees any customer can pay are $5.
What about the pricing for precious metal products? The prices charged for the OneGold products vary from one item to the other one, hence the need to do your own due diligence to find out whether you are getting the best deals.
Payment Methods allowed/supported
OneGold accepts payments that are made by:
- Wire Transfer
- Bank ACH Transfers – this method is only accepted for U.S. customers who own U.S. banks
- Credit Card
Regardless of the payment method that you use when funding your account, you should be aware that the minimum deposit amount is set at $100. Also, the only currency accepted by OneGold is the United States Dollar, but the owners of the company are looking into the prospect of accepting other currencies in the future.
How customers should use the OneGold Mobile App
OneGold stands out from its competitors in the precious metal industry by offering a mobile app that its customers can use to access its product and service offerings. After downloading the app either on Apple Store or Google Play, the customers can use it in the following ways:
The app enables you to access real-time portfolio updates so that you can know your financial position. With the mobile portfolio tool, you can access insightful data that allows you to make the best judgment whether you are buying products from OneGold, or you are adding precious metal assets to your retirement investment portfolio.
If you are the type of investor who likes to invest on autopilot, then the OneGold App presents you with an opportunity to automate your orders for precious metal offerings. You can automate your investments in terms of a fixed amount of money or certain ounces of your preferred precious metals.
The app also allows you to determine the frequency of your investments i.e. whether you want to invest daily, weekly, or monthly. This is such a useful element for those who use the dollar-cost average approach to spread out their risks as they build their portfolios.
You can, with the help of the OneGold app, convert your vaulted precious metals to APMEX-certified items by simply accessing the Redeem option. The app makes it possible for customers to transform the digital precious metal assets into real money or real precious metals, something that is made possible as a result of the presence of APMEX.
Custom Metals Alerts
You can set up personalized alerts with the OneGold app. Doing this enables you to know when the gold, silver, and platinum prices change. You can also get notified via push notification so that you cannot miss out on an opportunity to either buy or sell your assets.
Access Market News
Another benefit of this app is that it allows customers to access industry-relevant news, for the purposes of decision making. You will never miss out on the news that are in one way or another related to the state of gold, silver, and platinum in the market.
View Live spot prices
The OneGold app allows customers to view the current pricing of various precious metals from an hourly, daily, weekly, or monthly perspective. You can also buy or sell items at any time of the day, regardless of whether the markets are open or closed.
Does OneGold offer Storage Services?
Yes. This company offers storage services to those who need them. Customers in different corners of the world can benefit from the secure storage services that OneGold offers in partnership with vaulting firms, as illustrated below:
- U.S.-based customers – APMEX, Loomis, and COMEX-Approved vaults
- Canadian customers – Royal Canadian Mint
- Switzerland customers- Loomis International
- U.K. customers – Loomis International
Does OneGold Offer IRA Services?
This company does not offer precious metal IRA services. They are also not custodians for IRAs, but they present their customers with a list of custodian companies on their official website. In doing so, OneGold arms its customers who would like to open Gold IRAs with the right resources to get started on the right track.
Once the customers have opened their gold IRAs and have established contact with their preferred custodians, they can then reach out to OneGold so that they can add precious metals to their retirement investment portfolios.
Is OneGold Legit or is it a Scam?
This company is, in my opinion, a legit one. It is founded by APMEX and Sprott, and they are both two legit and reputable companies in this space. However, if it is your best alternative out there is a whole other story and something you will have to research and compare against other companies.
If you go through the available online reviews, you will see that they all point to it being a genuine company. What score and reviews do they got on widely recognized and trusted consumer trust platforms then?
OneGold Reviews & Ratings
BBB (Better Business Bureau)
Rating: A+ (out of 19 reviews) click here for details (opens in new window)
Rating: (4.8 / 5) (out of 7453 reviews) click here for details (opens in new window)
Rating: (4.8 / 5) (from 132 reviews) click here for details (opens in new window)
Rating: (5 / 5) (from 35 customer reviews) click here for details (opens in new window)
As you can see, OneGold seems to have impressed many of its customers so far. This, however, does not imply that you should not compare what it has to offer with other firms in the industry. You could end up getting a better deal from other companies with better and more ratings from other sources aswell.
The independt 3rd party consumer protection agencies that I put the most weight on when it comes to online ratings are also the 3 I have listed first in the list above, BBB, Trustpilot and Trustlink. I especially put a lot of weight on if a particular company got reviews on trustpilot, I have explained why on this page.
Pros and Cons of OneGold
- Barely any complaints about its services to be found
- Has a resource-packed official website
- Genuine products
- Charges significantly lower fees for its digital products
- Owned by reputable companies
- No reviews from Trustpilot
- There are other better alternatives, especially for a gold IRA.
Do You Own or Represent OneGold?
If you are a representative, or associate of OneGold and have found something not to be correct in this review please, feel free to tell us and I will make sure to update the info on this post. The easiest way to do it is in the comment section below or simply by sending us an email to firstname.lastname@example.org
Final Words and Verdict
Overall Rating : (4 / 5)
I think by now you have a clear picture of what to expect from OneGold if you decide to work with them. In my own view/assessment, I can tell that the owners of this company are striving to deliver excellent services, which is quite impressive. They, however, seem to miss out on a very important investment feature, which is precious metal IRA services.
Despite being a precious metal dealer, OneGold locks out investments who would like to access one-stop-shop retirement solutions, such as the opening of a gold IRA. You can, however, purchase precious metals from them, and consult with your custodian whether it is possible to utilize their storage solutions. You can also have a look at some of the alternatives below, to see if you will be better off relying on this company’s competitors in that field instead:
That will be all for this review on what onegold.com is, and what it has to offer. I hope that you got sufficient insights to help with the decision-making process. If you need more information on how to get started with precious metals investing, request the resources in the comments section or check our recommended alternatives within this article. See you in the next one!
I wish you well,
Eric, Investor and Team Member at Gold Retired!