The dollar rate is depreciating at a very fast rate. Today Americans are not sure what the value of their money will be in the coming years. With such an uncertain market, it becomes extremely important to have your money guarded against the uncertainties of the economy.
Selecting the right options for investment may become quite overwhelming at times. Therefore we offer highly authentic reviews about the top and most popular precious metal-providing companies in the US.
As the world is digitizing we present to you our honest opinion about the digital platform for online precious metal investment.
Owned By: Sprott and APMEX
Founded In: 2018
Location: Oklahoma City, USA
Insurance Company: Lloyds of London
Products: Precious Metals
Better Business Bureau: 4.12/Out of 5-star rating
Shopper Approved: 4.8/Out of 5-star rating
Overall Rating: 4.5/Out of 5-star rating
Table of Contents
To help you choose the right precious metal provider for diversifying your investment portfolio, we looked into many providers of precious metals and came up with our honest reviews of different providers running in the US market.
If you wish to learn about our top 5 precious metals investment companies, click on the link below.
Founded in 2018, by Sprott and APMEX – two of the most experienced firms in the precious metal industry, partnering to present an easy-to-use and secured marketplace for dealing in physical and virtual precious metals.
It specializes in dealing with physical precious vaulted metals namely gold, silver, and platinum and offers its services in four major countries, the USA, UK, Switzerland, and Canada. OneGold is the savvy digital precious vaulted metal provider allowing a minimum investment of $1.
It offers 24/7 online precious metal buying and selling services along with a number of features to tailor the investing experience of the customers as per their needs.
Easy signup, buying/selling processes, and personalized portfolio diversification options make the company popular in the American precious metal market.
OneGold - A Partnership Firm
OneGold is an online marketplace for precious metals. It provides secure, easy-to-use, and 24/7 services to diversify your investment portfolio.
It is a product of two big companies namely APMEX and Sprott which teamed up to provide their existing and new customers with top-notch services dealing in precious metals.
APMEX, having 15 years of experience in providing its customers with online precious metals and precious physical metals has its headquarters in Oklahoma City. The company has a great reputation in the precious metal industry and has an average satisfaction rating of 4.9.
Providing an extensive product line of physical and online gold and silver to more than 1.1 million customers in more than 60 countries around the world, APMEX has become the sole owner of OneGold from August 2021.
Sprott Inc is a dedicated service company providing its customers with quality investment strategies to invest the money in the right alternative. Their services include top-notch strategies for Exchange Listed Products, Alternative Asset Management, and Private Resource Investments.
Its headquarters are in Toronto, Canada, and have offices in New York, California, and Vancouver.
OneGold Products and Services
OneGold offers a variety of services when dealing with precious metals. The US customers can easily avail services for gold, silver, and platinum whereas customers from the United Kingdom, Switzerland, and Canada can only avail services for gold and silver.
It helps in buying, selling, and managing your digital investments. The company has all the products properly insured with Lloyd’s of London and provides storage services with different price rates.
Vaultchain Gold and Silver
Vaultchain is a cost-effective digital precious metal investment that is backed by physical gold and silver metals at the Royal Canadian Mint in Canada.
With no storage or management fee, it offers data accuracy using blockchain distributed ledger.
It is the world’s largest precious metal marketplace, developed by Tradewind, and provides real-time 24/7 gold and silver prices for easily buying, selling, and managing your precious metals at your fingertips.
All the US products i.e. gold, silver, and platinum are completely insured with Lloyd’s of London and physically stored at secured vaults with the OneGold partners, Brinks, Loomis International, APMEX, or CNT (COMEX Approved Vault).
Offering regular third-party audits, gold and silver for Canadian customers are stored at the most experienced vaulting service provider in Canada, Royal Canadian Mint (RCM).
OneGold partners with RCM and has your digitally managed precious metals, physically stored at their safe and secured vaults in Ottawa, Canada.
RCM is a Crown corporation of the Government of Canada, which offers its own complete insurance services against any sort of theft, loss, or damage.
Precious metal customers from Switzerland can rest assured as their precious metals are kept at the premium vaulting partners, at Loomis International. Onegold offers insurance services through Lloyd’s of London and regularly undergoes third-party audits.
This enables the customers to buy, sell, and manage their gold and silver digitally.
The United Kingdom is considered the oldest precious metal market, being the top choice for investors to invest in. Gold and silver are fully insured with Lloyd’s of London and stored at the most important centers in the world.
Getting Started with OneGold
Getting started with OneGold precious metals is piece of cake. You would need to create an account first with OneGold to start your journey.
Sign-up is just like having a password setup and takes not more than a few minutes. Once you’re done with account creation you can select one of the secure vaulting partner of your choice and select your preferred gold, silver, or platinum from the long product catalog.
These processes can either be done via your desktop or your OneGold mobile App available at “Google play” and “App Store”.
Link your payment methods like PayPal, credit cards, bank checks, debit cards, and Bitcoin with your OneGold account. Now, you can either fund your OneGold account or select the “Buy Now, Pay Later” option.
All your precious metals acquired digitally are fully insured and physically kept with highly secured vaulting partners.
OneGold provides the option to redeem digital precious metals into physical precious metals from APMEX’s 20K+ product options. You can also liquidate or sell precious metals online 24/7.
You can also send your pre-funded cash back to the payment source. Check the quick video below to understand OneGold’s simple and easy process.
How to Buy Digital Metals
Buying digital metals is extremely easy. OneGold makes your precious metal investments hassle-free, cost-effective, and easy with its desktop or easy-to-use mobile application dashboard.
The process involves the following steps:
Step 1: Select Products
Select the products which you wish to acquire from the APMEX product catalog.
Step 2: Choose Payment Type
Choose your amount in dollars or ounces and select the payment type in which you wish to pay (bitcoin, check, credit card, or via your bank account in cash)
Step 3: Lock Your Price
Next, lock your price to continue with the purchase process.
Step 4: Confirm Your Order
After you have locked the price, confirm the order to transfer your digital precious metals into your OneGold account.
Step 5: Enjoy Real-time Precious Metal Tracking
Once your order is confirmed, you can track the real-time increase in your digital precious metal holdings on your dashboard.
How to Sell Digital Metals
Just like buying, selling your precious metals online involves three easy steps. The steps are:
Step 1: Select Products
Select the products which you wish to sell from your OneGold account.
Step 2: Confirm Items to Sell
Once selected, confirm the items for sale.
Step 3: Track Real-time Transferred Fund
Finally, funds would be transferred to your OneGold account when you confirm selling. You can track the increased cash balance in real time on your OneGold dashboard
Features of OneGold
Switch & Save
Unlike others, OneGold offers the feature of switching from your former precious metal trading company to OneGold.
It promotes itself as the fastest, easiest, and most cost-effective precious metal trading company serving millions of users and easing their precious metal investment journeys.
You can easily switch to OneGold by creating your OneGold account and enjoying the benefits and features it offers to its customers.
Next, you can also contact the company representative by giving them a call and discuss the details of your switch. OneGold, considers BullionVault and GoldMoney as its competitors and mentions time and again why it is better than its competitors.
After you’re done with setting up your OneGold account, transfer your assets from your former account to your bank account. If you have any particular metals to buy with a particular spot price, you can lock the current price for your selected metals and pay later.
This special feature allows you to have your desired metals for your desired price, saved for later.
Your cash balance would be credited with the 0.5% amount you spend on your first purchase. You can avail reimbursements of up to $1,000 in your cash balance.
With OneGold’s auto-invest feature, put your assets on “Autopilot”. This means placing an automatic order on OneGold’s mobile app and investing your money for the future.
You can create customized auto-invest orders and specify the application to save a particular amount in the form of real metals or dollar-cost averaging to have your future secured.
The website also offers a calculator, to calculate the amount which may be invested and presents the future outcome.
The feature allows you to set the automatic savings to occur daily, monthly, quarterly, or annually. It helps in minimizing the investment risk and maximizes the chances of higher return
You can rest assured that your hard-earned wealth is being saved in a metal-backed savings account.
OneGold offers a redemption service to its customers. This special feature enables you to buy precious metals online which are physically stored at any one of the secured vaulting partners around the world which you select.
These precious metals are under your direct ownership but present at a different location. With an online service providing 24/7 trading and investment opportunities, you can sell your owned metals at any time.
According to your investment, normally you own a fraction of the larger bars like kilo bars or London Good Delivery Bars.
If you wish to redeem your metals, select the product as per your requirements from APMEX’s 20K+ products and have your selected precious metals delivered directly to your doorsteps by the next business day.
This process eliminates the precious metal retailer chain by being hassle-free, cost-effective, and your precious metals being fully insured. APMEX also allows international delivery which may vary in time
You can also withdraw cash from your OneGold account and choose how you wish to get paid. You can withdraw cash via check, bank wire, or direct bank deposit.
With 24/7 management, OneGold has digitized the way of investing in precious metals. The mobile application can be downloaded at “App Store” and “Google Play”. Following are the benefits of having the OneGold Mobile App.
Modern Metals Trading
Onegold has modernized the way of precious metal trading by offering top-notch, 24/7 hassle-free services for buying and selling gold, silver, and platinum in the most cost-effective way.
You can buy or sell precious metals at any time and have them placed in any secured vault around the world at your fingertips.
It enables you to track your portfolio and have real-time updates helping in making informed decisions.
Enabling automatic saving by setting the application to auto-invest daily, monthly, quarterly, or annually either investing in form of dollar-cost averaging or precious metals.
Have your vaulted holdings converted into cash or precious metals anytime with the OneGold redeem section in the mobile app. You can easily select your desired precious metals from APMEX’s products and have them delivered to your doorsteps or convert your vaulted holdings into cash.
Live Spot Prices
You can easily buy or sell precious metals by having access to real-time spot prices and making decisions accordingly. With the mobile app, you gain access to 24/7, hourly, daily, weekly, and monthly views of gold, silver, and platinum prices.
Get the latest information about trends and factors which play an important role in precious metal prices.
Custom Market Alerts
Create custom market alerts with the OneGold mobile app. Get 24/7 updates and alerts when there is any change in the precious metal price, that may entice you. These notifications may be tailored for a certain percentage or dollar amount.
Precious Metal IRA
OneGold offers great tax benefits with self-directed IRAs and helps to increase your wealth using compound interest.
It helps you to diversify your retirement investment portfolio like a conventional IRA or 401(k) account providing more investment alternatives and more control of your retirement portfolio.
Following is the three-step process to start with precious metal IRA.
Step 1: Contact Custodian
OneGold provides a list of custodian partner companies. Simply click on any of the desired company and create an IRA account with the respective company.
Step 2: Fund Account
After the account is set up, add the funds. You can either fund the account starting fresh or transfer your existing IRA or previous employer 401(k).
Step 3: Create Your OneGold IRA
If you have not yet created an account with OneGold, sign-up and select a custodian company from the “profile” section. Link your custodian account with your OneGold account.
OneGold offers a list of partnered custodian companies acting as the trustees and offering the creation and maintenance of your precious metal IRAs.
How Do Precious Metal IRAs Work?
When you plan to set some portion of your wealth aside for your retirement, IRAs are what you should consider. There are many different types of IRA but self-directed IRAs are the best option for you as it helps diversify and have full control of your retirement portfolio.
Buying precious metals for your IRA account is beneficial as it helps your wealth safe against the trembling dollar rate. While the price of tangible assets decreases in a recession, precious metal prices increase.
You need to have a complete understanding of all the processes, terms, and conditions when investing for your retirement.
For example, you would be charged with a 10% penalty if you withdraw funds before the age of 59 1/2. Also, you are bound to open a precious metal IRA with a custodian onboard. If not done so, you might get in trouble with IRS.
Check the list of OneGold’s custodian partners in the “Custodian Services” section.
Bullion card is the most innovative offering by OneGold. For people who are not sure how much to invest or when to invest, a Bullion card helps you save for your future with your everyday purchases.
Whether you are buying gas, paying bills, or getting groceries, the Bullion card redeems 1% of your purchase into gold and silver.
It also offers up to 4% back in gold and silver when buying at APMEX or OneGold. The card offers Premium Visa Signature Benefits providing cashback and precious metals.
You can increase your precious metal portfolio by;
- earning points via doing everyday errands (bonus points via purchasing from OneGold),
- selecting precious metals to invest in,
- allowing OneGold to buy your preferred precious metals from your earned points,
- and finally, enjoy the increase in your precious metal portfolio.
Learn more about Bullion cards here.
To ensure that products bought at OneGold are backed by precious metals, Onegold uploads its latest inventory reports in the form of public reports. Its vaulting partners send monthly reports discussing the specifics of the precious metals owned.
The insurance policy of OneGold is updated once every year. For Switzerland, US, and UK products, Onegold partners with Lloyd’s of London for insurance services.
RSM International, one of the top 10 accounting firms in the world, physically counts and verifies these precious metal products in the US, UK, and Switzerland twice a year.
Products from Canada are stored and insured at the Royal Canadian Mint which is a Crown corporation of the Government of Canada. The government of Canada’s Office of the Auditor-General performs an annual audit of all the products available at the Royal Canadian Mint.
Your IRA precious metals need to be secured with a trustee and for that, you need a custodian company. Even though self-directed IRAs are more flexible, they are required to follow the same rules as any other IRA.
The custodian company needs to be IRS-approved. Following is a list of OneGold’s IRA partners that provide more precious metal options and offer safe, secure, easy, and convenient storage alternatives for self-directed IRAs.
- STRATA Trust Company
- Kingdom Trust
- New Direction Trust Company
- Preferred Trust
OneGold redeems precious metals that are shipped by the APMEX’S quick ship program. All domestic orders are free of cost and are usually shipped the next business day.
Once the package is dispatched, a confirmation email is also sent with a tracking number to track the real-time location of your package.
In case the order is lost, stolen, or damaged, an investigation takes place before the package is refunded or reshipped. It may take a little longer in delivery (maximumly 7 business days) due to unknown circumstances.
Packages are kept discreet, fully insured, and delivered via UPS or USPS. Countries where APMEX offers shipping include;
- Cayman Islands
- Czech Republic
- Hong Kong
- New Zealand
- South Africa
- South Korea
- United Arab Emirates
- United Kingdom
Fees and Pricing
As OneGold works internationally, its product pricing varies with the product type and country they are from. Gold prices in the US are different from the price of gold in Canada but OneGold offers the most competitive product pricing in the market. Some other pricing includes:
- Minimum investment required = $1
- Gold product purchase premium fee = 0.80% over the current spot price
- Silver product purchase premium fee = 2.00% over the current spot price
- Platinum product purchase premium fee = 3.70% over the current spot price
- Minimum storage fee/quarter = $5
- Gold storage fee = 0.12% per annum
- Silver storage fee = 0.30% per annum
- Platinum storage fee = 0.30% per annum
- Bullion card annual fees = $0
- Domestic Shipping fees = $0
Point of Difference
With so much to offer, OneGold is definitely one of a kind. Having a mobile app to make the user experience easy and convenient and allowing users to do 24/7 precious metal trading, OneGold has been successful in gaining positive customer reviews and ratings.
Virtual precious metal buying and selling is a great way to raise a level in precious metal trading. Its redemption and international service have marked it as a unique competitor in the industry that is always striving for a competitive edge.
The website provides quality education and knowledge about the market news and live, spot prices of gold, silver, and platinum along with historic prices. The mobile application also enables custom market insights which help you make informed decisions in precious metal investments.
Its Bullion cards help customers gain access to priority order fulfillment, gaining 1% gold and silver benefits with everyday purchases and 4% back in gold and silver when making purchases at APMEX and OneGold. It is an innovative way to save gold and silver every day for the future.
Pros and Cons
- Easy-to-use and convenient mobile app
- Comparatively lower storage fees.
- 24/7 precious metal management and trading.
- Works and partners with custodians and partners internationally.
- Extremely informative website for new investors.
- Allows minimum capital investment, as low as $1.
- Offer real-time precious metal prices.
- Provides AutoInvest feature to enable lower-risk investment and gain higher returns.
- Not easy to locate a company representative to discuss any one-on-one questions.
With the world becoming more technologically advanced, we can say that OneGold has definitely taken this statement seriously. By introducing technological advancements in the precious metal trading industry, OneGold has received much appreciation.
It has been successful in providing its customers with digital solutions for precious metal buying and selling. Its virtual to physical precious metal handling is done by its highly experienced partners around the world.
It is affordable and its easy-to-use mobile app makes the process of trading simple for anyone. For 24/7 guidance and help in precious metal trading, try OneGold.
We hope you’ve enjoyed this review of OneGold.
After researching over 100 companies, they were the clear #1 choice.