Are you trying to prepare for your future and retirement years? Would you like to make sure that you are in a comfortable position financially to remove many of the pressures you may be currently facing? If so, diversifying your portfolio today by investing in precious metals is a wise move.
OneGold is one of the many precious metals investment companies that may be able to help you accomplish this goal, but are they the right company for you? That is what we are here today to explore. Continue reading to learn more about OneGold and what they have to offer to decide if you'd like to work with them to invest in gold, silver and other precious metals.
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About OneGold
OneGold is a newer company that is the result of a partnership between APMEX and Sprott. APMEX is a precious metals investment company, while Sprott focuses on the management of alternative assets, such as precious metals.
APMEX and Sprott decided to work together to create OneGold, which would offer the best of both companies. Customers would be able to invest in digital precious metals, manage their account and make transactions securely online, and make sure they were financially prepared for their future and retirement.
OneGold is different from most other precious metals investment companies. We'll go into just what these differences are in the next section.
How Does OneGold Work?
As we mentioned, OneGold is different from your average precious metals investment dealer. Whereas most other companies offer gold or silver coins and bars for their customers to purchase, OneGold customers invest in digital assets.
These digital assets are still fully backed by physical precious metals. OneGold is also very selective in the physical metals which it chooses to back their investors' digital investments. They only look for precious metals that are very valuable, easy to liquidate, and secure.
Should you decide to try OneGold's approach to investing in precious metals, the company has worked to make the process as simple as possible. You can create your account by visiting their website. Once your account is set up, choose the precious metals you'd like to invest in.
OneGold also allows individuals to sign up to automatically invest a set amount of money each money. Or, you can even choose to have a specific number of ounces of gold added to your account at a set rate. Transactions can be paid for using credit cards, debit cards, checks, PayPal, or Bitcoin.
OneGold hold the physical precious metals in secure vaults. Your investments go towards purchasing a small portion of a very large bullion bar. At any time, you can log into your account to monitor your investments and see how your portfolio is growing.
Your investments always remain completely yours. Should you decide you want to liquidate your investment, OneGold offers a few different options. We'll explore these options in a moment.
How to Redeem Your Investments
Should you decide you're ready to redeem your investments with OneGold, you can do so whenever you'd like. You have two available options: liquidate your holdings (or part of them) for cash or convert them into physical gold, silver, or platinum through APMEX.
If you decide to convert your digital precious metals into physical metals, you'll find that APMEX has many options available for you to choose from. You'll simply need to sell the digital precious metals in your account and choose which physical metals you'd like to earn. This process is quite straightforward, and your metals will likely ship within just one business day. If you have a United States address, the shipping for your order will also be free.
OneGold Vault Audits
OneGold has vaults located in numerous locations across the globe. Each month, each of their vault locations is audited to assess the precious metals being held. OneGold shares these audit reports with their customers so they can feel confident that their investments are indeed back by precious metals. The reports can be found under the "Vault Audits" page of the website.
In addition to peace of mind provided by the vault audits, each of OneGold's vaults is also protected by the latest security measures and insured by a trusted name. The Canadian vaults are insured by the Royal Canadian Mint and the vaults located in the United States, Switzerland, and the United Kingdom are also fully insured by Lloyd's of London.
United States Precious Metals
Earlier, we mentioned that you can choose to purchase your precious metals and have them stored in one of four countries. One of these countries is the United States. If you choose to purchase United States products, you can choose to invest in digital gold, silver, and platinum. Regardless of which digital precious metal you choose, your investment will be fully backed by physical precious metals.
The storage partners in the United States provide fully allocated and segregated storage. The storage fees will vary depending on the type of metal you choose and are as follows: 0.12% for gold and 0.30% for silver and platinum. The United States vault locations are all fully insured by Lloyd's of London.
United Kingdom Precious metals
OneGold also offers their clients the opportunity to invest in gold and silver from the United Kingdom. Should you choose to invest in UK precious metals, your assets will be secured inside a UK vault with full insurance provided by Lloyds. The UK storage rates for precious metals are the same as they are in the United States: 0.12% for gold and 0.30% for silver.
Switzerland Precious Metals
Should you choose to invest in Swiss gold and silver, the physical precious metals backing your digital investment could include coins, rounds, or bars. As with the United States and United Kingdom, Swiss precious metals are stored in a secure vault insured by Lloyds of London. The 0.12% and 0.30% storage fees for gold and silver, respectfully, also apply to Swiss precious metals.
Canadian Precious Metals
Finally, you can also choose to make a digital investment in gold and silver from Canada. Canadian precious metals are held in the Royal Canadian Mint, famous for its security features. The Royal Canadian Mint also provides insurance for the precious metals in their possession. Canadian storage fees are the same as they are for other locations: 0.12% for gold and 0.30% for silver.
Adding Precious Metals to an IRA
If you've been thinking about diversifying your retirement portfolio by opening a Precious Metals IRA, OneGold can help you with that as well. They will work with the IRA custodian company that you choose. Once your account is set up and funded, your OneGold representative will help you add the precious metals to your new IRA.
Are There Any Red Flags for OneGold?
Now that we've covered some of the basics regarding the products and services that OneGold has to offer, let's explore whether there are any red flags for this company. We have found that it is very helpful to look at reviews from individuals who have done business with a company. Doing so helps one to gain insight into the inner workings of the company and can help you gauge how you are likely to be treated as a customer.
For the most part, the reviews we were able to find for OneGold were pretty positive. The company has an A+ rating with the Better Business Bureau and high average reviews from past customers on Google and the Better Business' website.
However, while there are only three reviews on Trustpilot, all three are very negative. This does send some mixed messages, when coupled with the overall positive reviews from the other review sites.
With any business, there will almost certainly be some unhappy customers, so it is up to you to weigh whether the negative reviews on Trustpilot are enough to raise any red flags for you about OneGold. We'll share some of our other thoughts regarding doing business with the company in the next section.
Is OneGold a Scam?
Do we think OneGold is a scam? No, nothing we've seen makes us think the company isn't legitimate. It was founded by APMEX and Sprott, two established and trusted companies.
Now, for the question of whether OneGold is the right company for you. Honestly, that is a decision that only you can make. And, while we see some positive aspects to OneGold and their precious metals investment approach, there are also a few things that make us a bit hesitant to fully recommend them to our readers.
First, we wish we would have been able to find a few more positive reviews for the company. While their average rating on both Google and the Better Business Bureau was above average, there weren't too many reviews to go off of. 130 reviews on Google may sound like a lot, but there are other companies with thousands of reviews across these sites. Having more reviews would help us feel more confident that the three very negative reviews on Trustpilot were just anomalies, not part of a pattern.
OneGold is also a young company. It was just founded in 2018. That certainly doesn't indicate that it is a scam, but making a very large purchase, such as precious metals, with a company that hasn't been around too long could make you a bit nervous.
Also, we just prefer investing in physical precious metals right from the start, rather than digital precious metals that you can convert to coins or bars at some point. We think it is a sounder investment choice and one that will help make sure that you're prepared for whatever the future has to throw at you.
Ultimately, as we shared above, the decision about whether to work with OneGold is yours. You can use the information we've shared here today to help you make an informed decision.
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Pros & Cons of OneGold
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Final Verdict
Now that you've read our review about OneGold, what is your plan? Do you think they are the best precious metals investment company for you? Or, would you like to learn more about some other companies out there, including our top recommendations, before making a final decision?
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