OneGold Review

OneGold Review

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.

  • Product Type: Precious Metals
  • Owner: APMEX and Sprott
  • Rating: 4.0/5
Table of Contents
What Is OneGold?
OneGold Ownership
How Does OneGold Work?
OneGold Fees
OneGold Products
Does OneGold Offer IRA Services?
How the OneGold Mobile App Works
OneGold’s Switch and Save
Pros & Cons of OneGold
Is OneGold a Scam?

What Is OneGold?

OneGold Review

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.

OneGold Ownership

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

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, Inc.

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?

OneGold Review

If you’re planning to invest with OneGold, follow these steps to get started:

  • Firstly, create a OneGold account through the company website. Doing this is free and will only take you a few minutes.
  • After that, the next step is to log into your OneGold account and start browsing the precious digital metals you’d like to invest in. You can choose between gold, platinum, or silver from the secure vault.
  • Once you’ve chosen your preferred digital precious metal, the next step is to buy or pre-fund your account. You’ll first lock in your order at the current price and then proceed to buy using one of the accepted payment methods available, including Bitcoin, credit card, debit card, PayPal, or bank check. It’s also worth noting that OneGold allows you to connect your account to your bank if you reside in the United States. You don’t necessarily need to prefund your OneGold account before buying. You can always opt for the ‘Buy Now, Pay Later’ option.
  • The next step is to choose the number of precious metal ounces you wish you purchase and set the suitable frequency of investment. You can always opt for the ‘Autoinvest’ option and select your preferred purchase frequency. Whichever option you choose, you should know that your investment at OneGold is fully secured and insured. Also, you can log into your OneGold account anytime and check the status and performance of your investment in real-time.
  • Once everything is set, you may choose to redeem, withdraw or even sell your holdings anytime you want. APMEX has over 20,000 products you can choose from if you decide to redeem your holdings. These products include gold and silver coins as well as other products. Once you choose the high-valued physical product you want, the representatives at OneGold will contact you to arrange delivery to your preferred physical address. On the other hand, you can sell your digital precious metals for cash and then withdraw these funds or reinvest the cash in other digital precious metals of your choice.
  • If, for one reason or another, you prefer to opt out of OneGold, all you need to do is withdraw your funds from the cash balance.

OneGold Fees

OneGold Review

Generally, there are two types of fees associated with OneGold, namely premium and storage fees.

Premium 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:

  • Gold premium fees: 0.80% of the current market price for gold
  • Platinum premium fees: 3.70% of the current market price for platinum
  • Silver premium fees: 1.00% of the current market price for silver

Storage Fees

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 Products

OneGold Review

OneGold offers various types of products on its website, depending on the country. They include:

U.S. Products

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

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:

  • Contact your preferred IRA custodian company to open a precious metal IRA.
  • Fund the account through your bank account or simply roll over an eligible retirement account.

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 Review

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:

  • Set up personalized market alerts for when precious metal product prices reach a certain level. If the prices reach your desired threshold, you can buy precious metals even if the market is closed.
  • Access live spot prices using your mobile phone.
  • Use advanced tools to manage your investment portfolio. This way, you know when to sell or add to your holdings.
  • Follow prices of precious metals and trade anytime you want.Put your assets on ‘Autoinvest.’
  • Stay updated on what’s happening in the precious metal market.

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:

  • Create a OneGold account and save $100 per annum for every $1000 investment, as well as other perks like QuickShip redemption and Autoinvest.
  • Send an email to the company via support@onegold.com or simply call 1-800-492-9144 and inform them you intend to switch from one of their competitors.
  • Proceed to move your digital precious metals from the competitor’s platform by selling them or withdrawing the money. After doing so, fund your OneGold account.
  • Send the final bill to OneGold so that they can credit your new account. Once this bill arrives, OneGold will credit the funds into your new account as cash balance.
  • Introduce your friends to OneGold and earn yourself a referral cash bonus each time they make a purchase worth more than $100.

Pros & Cons of OneGold

Pros

  • Low fees.
  • You get to choose the precious metals you want to invest in.
  • The precious metals are stored safely.
  • You can trade 24/7 from your phone.
  • You can start investing with only $1.
  • The precious metal products are good.
  • The company is owned by well-known partners.
  • The website is full of useful resources.

Cons

  • Some customers have pointed out the company’s slow processing times.
  • The company has been around for a short period (since 2018).

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.

Visit: OneGold