Overall economic instability and skyrocketing inflation rates around the globe have pushed many people to consider diversifying their investments. Most investors are tired of freaking out whenever the stock market crumbles. Fortunately, now more than ever, modern investors have more options to choose from when it comes to diversification. As of 2022, more and more people are investing in precious metals like gold, silver, platinum, and palladium to manage risk and optimize the returns of their investments.
Time is gone when investing in precious metals was such a difficult process to navigate. For many years, this type of investment seemed like it was only reserved for the rich. Thanks to companies like OneGold, investing in precious metals has become much easier and is now possible even to low- and middle-income earners.
So, what exactly is OneGold? What products do they deal with, and are they the right fit for your precious metal investment? Here is everything you need to know about OneGold, its products, support, services, and legitimacy.
What Is OneGold?
OneGold is basically a precious metal dealer, trading platform, and online marketplace that allows investors to buy gold, silver, and platinum. The company was founded back in 2018 through the collaboration of two partner companies, APMEX and Sprott. OneGold is committed to providing the best experience possible to clients seeking to acquire physical and digital products associated with precious metals like gold, silver, and platinum.
When you work with OneGold, you enjoy unmatched peace of mind, which comes with trading with the most secure and convenient platforms in the market. Additionally, OneGold offers a simple, easy, and affordable way to buy physical and digital precious metals.
The company allows you to easily pay for your preferred precious metals using your mobile phone or computer. This means that once you’ve chosen the right precious metal to invest in, you’re only one tap away from purchasing it. Also, all investors can access pre-funding, transaction, and rapid buy options 24/7.
APMEX and Sprott, Inc. are the joint owners of OneGold. Both companies shared a vision of revolutionizing the ownership of precious metals around the globe. As a result, they came together to launch a company that would digitalize physical gold. Today, OneGold holds digital gold data 100% backed by pure physical gold. APMEX and Sprott, Inc. are committed to making OneGold the most secure and reliable precious metal dealer for its investors.
APMEX is undoubtedly one of the biggest precious metal dealers on the planet. The company was established in 1999 by Scott Thomas and is headquartered in Oklahoma. Currently, APMEX has over 1.5 million clients worldwide and has successfully grossed over $10 billion in sales of precious metals. These figures have cemented the company’s reputation as an industry leader and innovator in the field of precious metals.
APMEX boasts a wide range of products and is committed to providing its customers with the best experience possible. Scott Thomas is the current president of APMEX, and he was presented with the prestigious American Numismatics Presidential Award in 2009.
Sprott is a renowned alternative asset manager and an industry leader in the field of real asset investments. The company was established in 1981 by Eric Sprott and has subsidiaries in the United States, Asia, and Canada. Sprott specializes in precious metals, private equity, mining investment, commodity trusts, and Exchange-Traded Funds (ETFs).
Currently, the company has over 200,000 clients worldwide and $7.5 billion worth of customer assets. Sprott is commited to providing investors around the globe with world-class solutions.
How Does OneGold Work?
If you’re planning to invest with OneGold, follow these steps to get started:
Generally, there are two types of fees associated with OneGold, namely premium and storage fees.
The prices of precious metal products at OneGold vary from time to time. Therefore, it’s in your best interest to do due diligence and ensure you’re getting the best deal. Fortunately, OneGold offers some of the best prices to investors in the precious metal industry. Also, the company charges investors premium fees when purchasing precious metals. These premium prices include the following:
If you’re planning to invest in precious metals, you should know that there always are storage fees involved. Fortunately, one of OneGold’s main objectives is to provide its customers with affordable precious metal storage services. As a result, the company has designed its storage fees to be among the lowest in the entire precious metal industry. The storage fees at OneGold are billed quarterly based on your average daily holdings multiplied by the overall storage rate of the precious metal.
Once you start investing with the company, you’ll need to compute the storage fees for your holding. The good news is that OneGold has a built-in calculator on its website to help you determine the exact amount of storage fees you’ll be paying quarterly for your precious metal investment.
The minimum amount of storage fees per quarter you can pay at OneGold is $5. On the other hand, the current storage rates at OneGold are 0.12% per annum for gold, 0.30% per annum for silver, and 0.30% per annum for platinum. It’s worth noting that these storage fees are subject to change.
OneGold has also published a table on its website to show you just how much money in storage fees you will pay over time. After hitting a certain dollar amount, you may be eligible for reduced storage fees, according to the company.
OneGold offers various types of products on its website, depending on the country. They include:
If you’re looking to invest in digital precious metals in the U.S., you’ll definitely find OneGold irresistible. The company offers some of the best prices in gold, silver, and platinum. All these products are developed in-house by APMEX.
If you invest in these products in the U.S., you’ll enjoy peace of mind knowing that your prized investments are secure in the hands of COMEX, APMEX, Loomis, and Brinks. It’s also worth noting that your digital precious metals are fully backed by physical precious metals that are fully insured by the Lloyd’s of London.
Vaultchain Gold and Silver
OneGold is committed to providing you with the best digital precious metal products available today. With that being said, the company leverages its expertise, experience, and great partnerships to bring its customers high-quality products and offers. Such products include Vaultchain gold and silver, a renowned digital asset developed by TradeWind.
All the Vaultchain products are vaulted and securely stored at the Royal Canadian Mint. The holders of these products get advanced features and security perks. Generally, there aren’t any administrative or management fees associated with Vaultchain. You can easily purchase physical gold and silver and store them in a digital vault.
Other products offered by OneGold include Canadian, Swiss, and U.K. products. Such products include investment-grade physical precious metals like gold and silver. Canadian products are usually insured by the Canadian Royal Mint, while the Swiss and U.K. products are insured by the Lloyd’s of London.
Does OneGold Offer IRA Services?
Even though OneGold is not an IRA custodian company, it helps its clients set up precious metal IRAs. OneGold has a list of IRA custodians on their website you can work, including Strata Trust Company, Kingdom Trust, Rocket Dollar, New Direction Trust Company, and Preferred Trust. However, you also have the liberty to work with any IRA custodian of your choice.
To get started, all you need to do is:
Once you’ve funded your IRA, you can now work together with your IRA custodian and OneGold to add a precious metal investment to it.
How the OneGold Mobile App Works
OneGold mobile has made precious metal investment convenient and simpler with 24/7 trading. This app is available for both iOS and Android users and can be used to perform various useful tasks, including:
OneGold’s Switch and Save
OneGold has a feature known as ‘Switch and Save,’ which gives you a reimbursement of up to $250 whenever you buy U.S. gold, silver, or platinum. The main purpose of this feature is to save you the inconvenience of switching around. Here is how this feature works:
Pros & Cons of OneGold
Is OneGold a Scam?
No. OneGold is owned by two renowned companies, namely APMEX and Sprott. Also, the company has been operational since 2018, and many people have invested in it. If you don’t know anyone who has worked with the company, you can always check the review sites. OneGold has excellent reviews on top review sites such as Better Business Bureau, Facebook, Trustpilot, and TrustLink.
If you’re new to precious metal investment, OneGold is a great company to work with. In addition to its useful app, the company has informative learning resources on its website that can guide you on how to get started. However, if you’re interested in IRA investments, it may be best to work with a company specializing in that.