Oxford Gold Reviews: Pros, Cons, All the Details

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Last Updated: May 17, 2024

Once you have decided to invest in precious metals, finding the right gold company to guide you through the process is critical. With so many dealers, how can you choose the right partner to help you invest in precious metals?

With inflation rising and the stock market on edge, it is no surprise many people are flocking to the safety of gold investments. A gold IRA allows you to diversify your investment strategies and gives you tax advantages.

We plan to tackle the challenging issues in this Oxford Gold Group review. We will tell you everything there is to know about the company, including its products, services, fees, and what customers say.

If you are considering investing in gold and other precious metals, we urge you to read our entire review. Make sure to stick around until the end to get our final verdict on Oxford Gold Group.

Key Takeaways

What Should You Know About Oxford Gold Group?

The company opened its doors in 2017 and is one of the newer kids on the block. Patrick Granfar owns the company, and he is the president. Because they are a privately held company, there is not much information on the full management team.

Oxford Gold Group is located in Los Angeles, California. Unlike some companies, there are no commissioned salespeople. Oxford Gold Group only offers partners committed to the success of its customers and business.

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Customer Reviews and Complaints

Always read customer reviews before getting involved with any company, especially if it involves your financial future. Although reading customer reviews and complaints takes time, you can learn much about precious metals companies and what to expect from them.

Better Business Bureau

The Better Business Bureau is a hub of information to help people learn about companies. We checked the Oxford Gold Group profile page on the BBB and found they have been accredited since 2018 and have an A+ rating.

The company's current star rating is 4.89 out of 5 based on 95 customer reviews. There have been 19 complaints closed within three years and 12 in the last 12 months.

As we read through the complaints, we quickly found a common theme. Many people experienced delays in the shipment of their precious metals. The person handling the customer's account often left to go to another company, and the customer was never informed.

Some customers tried contacting the company repeatedly and could never get a response, prompting them to complain to the Better Business Bureau. The lack of response was because the employee was no longer employed.

One customer complained that the company had made her lose over $62,000 and called her “Honey” while talking down to her. This looks pretty unprofessional! The customer claims the rep seemed to think it funny that she was angry.

There are also many positive customer reviews on the BBB, with four and five-star ratings. Many said Oxford Gold Group helped them seamlessly invest in gold and other precious metals. Reviewers also reported their Oxford Gold Group rep was knowledgeable and helpful.

Google Reviews

Our next checkpoint was Google Reviews. Oxford Gold Group has 4.8 stars out of 5 based on 199 reviews. Most of the reviews were glowing and stated the company representative thoroughly explained their options for precious metals investing.

We did find a couple of complaints regarding orders never being shipped from the Oxford Gold Group store after two to three months.

Trustpilot

Trustpilot is also an integral source for learning about Oxford Gold Group complaints. Trustpilot has given the company an excellent rating. They have 4.9 stars out of 5 based on 182 customer reviews.

Around 95% of the reviews are positive and five stars. There was a two-star review. The customer complained that the Oxford Gold Group website was useless. You cannot see prices or create orders for precious metal coins.

You must talk to a company representative to learn about precious metal prices and Oxford Gold Group cost. Many investors may be unhappy that they cannot purchase gold coins without talking to a representative, but this is common in the precious metals market.

Business Consumer Alliance

Finally, we visited Business Consumer Alliance to see what customers say about how Oxford Gold Group compares to other precious metal IRA companies. We discovered the company has a five-star customer rating based on 37 reviews and an AA rating on the BCA.

There have been no customer complaints on Business Consumer Alliance. The company has a lot of glowing reviews on the BCA website. Many people are pleased with how the Oxford Gold Group partner answered their questions and guided them on investing in precious metal investments.

While most Oxford Gold Group reviews are positive, and people say the investment process was a smooth and seamless experience, we are concerned about some common problems customers face, including the following complaints.

What Services Does Oxford Gold Group Offer?

Oxford Gold Group offers various services to help people purchase precious metals for their financial future. They promise a no-pressure approach to helping customers select silver, platinum, and palladium coins and bars. Most customer reviews prove the representatives keep this promise.

You can purchase coins and bars and have them sent directly to your door if you do not want to invest in an IRA. Gold and silver IRAs require you to store your precious metals in approved depositories, where they will stay until your IRA custodians help you take distributions when you reach retirement age.

Do They offer Precious Metals IRAs?

Oxford Gold Group offers precious metals IRAs. You can easily roll over from your eligible retirement account or open a self-directed IRA to invest in silver, platinum, and palladium coins and bars.

To get started in precious metal investments, you must talk to a company representative about your retirement accounts and investment needs. They will guide you through the process and offer educational resources for investing in a gold-backed IRA.

Pros & Cons

We do not expect that any company can make every customer happy. There are good and bad with all precious metal investment services. Consider the pros and cons, and decide wisely before investing in physical precious metals.

Pros

Cons

As you can see, the pros and cons are pretty even, but the cons need to address significant concerns. Issues with shipment delays and no communication are unacceptable in Salt Lake City or any location where you want to buy gold and other precious metals.

Is Oxford Gold Group Legit?

Oxford Gold Group is legit, but that does not mean they are the best. Over the last year, the company has seen a dramatic uptick in customer complaints on the BBB and other consumer review sites.

No one wants to seek precious metal investment services from a company with many negative reviews. We have to wonder why the company is suddenly tanking in its reviews.

How to Open Precious Metals IRAs with Oxford Gold Group

It would be best to have professional guidance when opening a gold IRA. Companies like Oxford Gold make investing in gold IRAs easier because they help customers understand which gold coins are IRA-eligible.

There are only a few steps involved when getting started investing in a precious metals IRA with Oxford Gold:

  1. Ensure you have the funds to cover the minimum investment for Oxford Gold, which is $7,500.
  2. You can call them directly or schedule a precious metal IRA call by using the online form.
  3. Talk to the Oxford Gold Group representative about your investment needs. While on the line with Oxford Gold Group, you will learn about the IRA rules for investments and storage. You will also receive guidance about moving funds from your retirement accounts to your precious metals IRA.
  4. Oxford Gold Group handles much of the paperwork involved in transitioning to a precious metals IRA. The representative should walk you through buying precious metal investments and answer your questions.
  5. Oxford Gold Group will ship your physical gold directly to your chosen depository for safe storage. Your physical metals will stay in the depository until it comes time for you to take contributions. You will pay annual storage fees while they hold gold bullion in your depository.
  6. You can monitor the progress of your gold IRA accounts through reports from your custodian.


Oxford Gold Group products representatives are available if you have concerns about your gold IRA account. Never work with a company that does not address your concerns and answer your questions immediately. They will help you open a new account and walk you through buying your IRA-approved metals.

Fee Information for Oxford Gold Group

Investing in physical metals requires paying fees for your account management and storing your various precious metals. While investing in precious metals is not free, the fees should be on par with other companies in the industry, including American Hartford Gold.

Account Maintenance and Setup Fees

Unlike some companies, Oxford Gold Group charges a flat fee structure for precious metals IRA accounts. Accounts with less than $10,000 will be charged $175 annually. Accounts over $10,000 are charged a $225 annual flat maintenance fee.

Oxford Gold Group partners with custodial services like Equity Institutional. They work hand in hand with these custodians to set up your new account and ensure Equity Institutional or your chosen custodian takes care of any paperwork and the transfers necessary for you to purchase gold.

Storage Fees

The cost of storing your precious metals will vary, depending on your account size and chosen depository. The typical prices range from $175 to $225 per year. The storage fees cover the cost of storing your gold and silver at the Delaware Depository and the insurance to keep it protected.

It is important to note that additional fees may not be outlined above in the disclosed maintenance or storage fees. Some gold companies charge fees for paper statements and certain aspects of account management. We urge you to ask for fee information in printed format and read all terms and conditions before jumping on board.

Does Oxford Gold Group Insure My Precious Metals?

Oxford Gold Group does insure precious metals. Their partnered depositories are covered by Lloyds of London and offer state-of-the-art security and highly trained staff members. If you buy precious metals outside of a gold IRA, Oxford Gold Group ships your orders with insurance to keep them safe.

Tracking Your Investment Progress Through Oxford Gold Group

Keeping track of your investments is critical for your success. Oxford Gold Group knows its customers want to monitor the performance of their retirement accounts, so they created an online account portal. You can monitor gains and losses through the portal and report them to the IRS as required.

You can access the Oxford Gold Group online account portal 24 hours daily. You will have access to the information you need, including the current spot price.

Should You Invest in Precious Metals?

You should invest in precious metals because they offer a safe haven during economic distress and geopolitical turmoil. You can obtain tax advantages with a precious metal IRA, allowing you to save for the future and reduce your tax implications.

Gold Is a Safe Haven Investment

When fiat currencies begin to fall, gold typically retains its value or even goes higher. People flock to gold, silver, platinum, and precious stones when their 401k and other retirement accounts lose money. Gold prices always seem stable, making investing in precious metals profitable for all, though no investment is without risks.

Gold IRA Investments Offer Tax Advantages

One of the top benefits of investing in gold is the tax advantages. Your investments can continue to grow without you being taxed as long as they stay in the depository and within the confines of your account.

Depending on the type of IRA, you may be subject to taxation when you take contributions upon retirement age. Working with a custodial expert will help you follow the IRS rules and protect your investments.

Self-Directed IRAs Offer Many Investment Options

You can invest in gold, silver, platinum, and palladium with a precious metal IRA if the metals meet or exceed the purity levels and other requirements. An Oxford Gold Group representative will walk you through the process and help you invest wisely.

Investing in Precious Metals Diversifies Your Investment Portfolio

Many people are concerned about their investments losing value. When all your investments are tied up in the same type of assets, you can lose it all in a single market downfall.

Diversification is critical for helping you to protect your investments from catastrophic losses. Gold and precious metals are excellent choices for safe diversification, though there is a risk with any investment, so proceed cautiously.

FAQ About Oxford Gold Group

We attempt to be as thorough as possible when reviewing any gold company. We want you to be prepared for retirement planning so you can make the right decisions.

The following are some of our readers' most common questions about Oxford Gold Group and the gold and silver products they offer.

The minimum investment for Oxford Gold Group is $7,500. You will need self-directed retirement accounts or a new account to invest in gold, silver, platinum, and palladium. Choosing the correct metals is essential for your gold and other precious metal IRAs.

Oxford Gold Group is a reputable company, but that does not make them the best. Throughout the entire process of researching the company, we have found many recent complaints that concern us about Oxford Gold Group's work. We urge you to research carefully before you choose any gold dealers to help you with gold IRAs.

Patrick Granfar owns Oxford Gold Group. He opened the gold IRA company in 2017 in Beverly Hills, California. Patrick has a rich history in the investment sector and is the former senior portfolio manager at Lear Capital.

American Hartford Gold is the most trusted gold company because they offer the best customer service approach and fair prices. Goldco, Augusta Precious Metals, Birch Gold Group, and Noble are excellent choices for your gold IRA investments.

Our Final Assessment: Should You Trust Oxford Gold Group?

Oxford Gold Group is a legitimate company. Even though it is a newer one, this gold dealer helped change the way people think about gold investing, but in the last couple of years, concerns have arisen within the ranks.

Increasing customer complaints have led us to question Oxford Gold Group's operations. What has suddenly gone wrong preventing them from offering excellent customer service?

Although we feel they are a company with potential, we cannot recommend them to our readers because of increased customer complaints about communication and shipping delays.

There are much better customer-centric gold companies out there, and our top recommendations are American Hartford Gold, Goldco, Augusta Precious Metals, Birch Gold Group, and Noble. No matter which company you choose, research carefully and learn as much as possible before you invest.

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