Goldco vs. Oxford Gold Group
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In today's economic climate, gold has become a favored asset for investors looking to diversify their portfolios and hedge against inflation. Consequently, many companies have claimed to provide excellent gold investment opportunities.
This article will compare two leading players in the precious metals industry - Goldco and Oxford Gold Group.
Who are Goldco and Oxford Gold Group?
Goldco is one of the most respected precious metals investment firms in the United States, founded more than ten years ago. They specialize in gold iras, allowing customers to purchase physical gold coins and bullion that can be stored at an IRS-approved depository.
Oxford Gold Group is another well-established firm operating in the industry. They offer diversified precious metals portfolios, including palladium and platinum. Their specialty includes providing a comprehensive range of gold products to individual and institutional investors.
Before we get started:
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Goldco was established in 2006 by Trevor Gerszt, who had spent over thirty years helping clients to manage their finances prudently. The company has received numerous accolades throughout its operation period regarding fee transparency and ease of administration.
Goldco specializes in offering self-directed iras for buying physical assets like precious metals. Aside from that, they also provide information on issues related to tax regulations as well as purchase/sale opportunities.
Oxford Gold Group
Oxford Gold Group first opened its doors in 2013. The team is led by some distinguished financial experts on Wall Street who have unique insight into precious metal markets.
Aside from specializing in Precious Metal iras just like their counterpart- Goldco, Oxford earns high praise from customers because it provides easier access to purchasing gold products without having to set up an ira first.
Gold and Precious Metals IRAs
What is a Gold IRA?
Investing in gold iras usually entails transferring or rolling over an existing 401k, ira, TSP, or other similar retirement accounts into physical gold assets. This type of investment typically provides a more stable returns profile and is considered to be less volatile than other assets.
Goldco's Gold IRA
To open an account, interested customers need to fill out the online application form on their website. After filling out the form, a representative from Goldco will reach out shortly thereafter to guide you through the remaining steps of the process.
Goldco charges a $260 annual fee for administration services. Additionally, investors must remember that precious metal storage providers charge their fees separately.
Oxford Gold Group's Gold IRA
Like their counterpart, Goldco, Interested customers can visit Oxford's official website and complete an online application form to kickstart the account opening process.
Oxford charges $225 annually for keeping accounts active as well as providing transaction activities tracking services. Interestingly, they offer reduced fees based on asset portfolio requirements.
Goldco offers diverse options ranging from American Buffalo coins to Australian Kangaroo coins. They also offer popular choices such as South African Krugerrands and Canadian Maple Leafs in both bullion and proof versions.
Gold bullion produced by private mints or sovereign governments is what customers get when they invest money buying bullions.
On the other hand, investing in gold coins involves purchasing legal tender like US Mints American Eagle coin, produced purely with gold as its primary material.
Oxford Gold Group's Gold Products
Oxford offers two ways clients can purchase gold: physical bars or through digital means using exchange-traded funds (ETFs). Investors may purchase various gold coins issued by several countries worldwide.
Oxford offers bullions from trusted sources only, which means they are guaranteed to be of high quality. Generally, these investments have low premiums and an excellent hedging potential against inflation.
Like their counterpart, Oxford provides customers with a diverse collection of bullion and proof gold coins.
Goldco provides three kinds of silver investments- American Eagle, Canadian Maple Leaf, and Austrian Philharmonic Silver Coins.
Bullion investment is also possible in the form of bars or rounds; these are pure silver products most investors prefer to buy over stock options due to their stability in value preservation.
Similarly to Gold investment in coins format, buying silver coins as an investment exposes one to exclusive numismatic collectibles always sought after by collectors globally.
Oxford Gold Group's Silver Products
When investing with them, Oxford allows clients to choose between silver bars, American Eagle, or British Sovereign coins. Also, a specialized silver portfolio, known as Morgan Dollar Proof Set, is available through them, which gives access to rare historical coins and makes for an excellent addition that can diversify your portfolio.
Storage and Delivery
Goldco works with IRS approved depositories around the country where client's gold may be securely stored. Deposits are insured against loss, theft, or damage.
Customers may choose delivery directly to their homes once approval has been granted. The cost charged catered for pick-up shipping charges.
Oxford Gold Group
In partnership with well-respected independent storage contractors around the US., Clients' holdings are kept under high-level security systems via state-of-the-art-class vaults–clients can take advantage of this service anytime while holding their metals purely outside their homes/offices under favorable conditions.
Oxford Gold provides logistics to have the assets shipped directly to clients' preferred destinations. In some circumstances, they also provide storage options for metals under their own facilities.
Customer Support and Resources
Goldco offers phone support during its standard business hours as well as email. Moreover, their team comprises passionate researchers knowledgeable about gold trends, thus providing customers with excellent insights.
Educational resources abound on their website in the form of blogs, webinars, guides and seminars, or even podcasts with views from industry leaders. Clients can benefit immensely from this vast collection regarding precious metal investments.
Oxford Gold Group
Oxford's customer service personnel are available via the phone on weekdays while responding promptly to emails in time. Through this avenue, they assist with answering several questions related to transactional processes.
Their site has several educational tutorials/guides/articles that give valuable information to beginners on gold investment and wealth management strategies. This content ranges from portfolio diversification tips/ideas to how different precious metals hold up against global economic fluctuations.
Customer Reviews and Ratings
Based on over 800 reviews of Goldco by verified users on Trustpilot, it is safe to say that most of their clients are satisfied with the quality of service offered–they rate 4.7 out of 5 stars.
Goldco has operated nationwide for quite a while now; therefore, this rating profile could not afford much criticism for considerations concerning accountability aspects–they hold an A+ rating.
Oxford Gold Group
Likewise, trusted by customers worldwide and highly rated among competitors is noted in their Trust Pilot reviews-4.6 out of 5 stars shows strong indications of dependability. Clients are pleased with how available customer support personnel attend calls, offering helpful and well-timed advice to them.
Oxford Gold Group is currently not accredited by the BBB(because they don't get rated much by them), but based on reviews from verified users, clients are pleased with their level of expertise as well as services capable of meeting expectations.
Pros and Cons
Oxford Gold Group
Frequently Asked Questions
Can I transfer my existing IRA to a gold IRA?
Yes. It is possible to transfer almost any type of IRA account, including traditional IRAs, SEP IRAs, SIMPLE IRAs, and previous employer's retirement plans, into gold, platinum, palladium coins, or bullion IRAs.
Are there any tax implications for investing in Gold IRA?
Precious metal holdings can be taxable depending on several factors like withdrawals timing or amount held during liquidation due to age/IRS exemptions related policies indirectly affecting gains taxed, making it wise to consult concerned parties before embarking on investing in this sector fully.
What is the minimum investment for a gold IRA with Goldco and Oxford Gold Group?
Both have relatively low commitment minimums of $25,000 and $5,000, respectively.
How do I know if my precious metals are safely stored?
Clients receive quarterly reports from the vault in question showing transactional activities done during that period as well as updated value status of their holdings.
Can I take physical possession of my gold and silver?
Yes. The IRS requires IRAs to hold actual physical gold at an approved depository under certain circumstances; However, the ability is available for gold and silver bars being held by most IRA holders in compliance with specific regulations.
How long does it take to open a Gold IRA account?
The process of opening a gold IRA account with either Goldco or Oxford Gold Group is relatively quick and easy. You can typically complete the process online, but the time it takes may vary depending on the company.
Goldco claims their account opening process takes 24 to 48 hours after receiving your application. Meanwhile, Oxford Gold Group states that they can complete an application in less than five minutes.
You should also keep in mind that additional time may be needed for any transfer of funds or assets from other accounts.
Can I include other precious metals in my Gold IRA besides gold and silver?
Yes, both companies offer the option to invest in other precious metals besides gold and silver. For example, both companies also provide investment opportunities in platinum and palladium.
Before investing your funds into any other types of precious metals, make sure to do some research and speak with a financial advisor first to ensure you understand the risks and potential rewards of such investments.
What happens to my Gold IRA when I retire?
When you reach retirement age and are ready to start taking distributions from your account, you have several options. Major firms require investors to begin taking "required minimum distributions" at age 70½; otherwise, they face financial penalties for not doing so.
You might convert parts of your investment back into cash as part of your retirement plan while preserving your overall portfolio balance. Alternatively, if you'd like more control over how much money you withdraw each year, you can consider setting up consistent withdrawals under certain conditions.
How can I track the performance of my Gold IRA investments?
Both Oxford Gold Group and Goldco provide an online account dashboard, which makes it easy for investors to track their performance. You will typically receive regular account statements with balance and account activity updates.
Suppose you'd like to be more hands-on with managing your investments. In that case, many third-party service providers offer different tools and technologies that can help you closely monitor your investment portfolio's performance.
You can make informed decisions about how and when to take advantage of potentially profitable opportunities by properly tracking your investment's performance over time.
After evaluating both Goldco and Oxford Gold Group, it's clear that each company has its strengths and weaknesses. However, Goldco stands out as the preferred choice due to its excellent customer support, diverse product offerings, and comprehensive educational resources.
These factors give investors a well-rounded experience and the confidence to make informed decisions about their precious metals investments.
When selecting a precious metals investment firm, it's essential to assess your individual needs and priorities, keeping in mind factors such as the variety of metals investment opportunities and services provided by each company.
Goldco's commitment to customer satisfaction and its broad investment portfolio make it the ideal choice for many investors looking to diversify their assets and secure their financial future.
Remember to read our list of the Best Gold Investment Companies to work with, before investing your hard-earned savings!
>> CLICK HERE to read our list of the Top Gold IRA Companies. <<
Hi, I'm Charles Turner, founder of Turner Investments. I created Turner Investments to provide education and guidance to individuals interested in personal finance.
My goal is to make Turner Investments a valuable resource for anyone looking to learn more about personal finance and make smarter investment decisions.