Gold IRAs are a safe option for investing in gold without the dangers and inconvenience of owning actual gold bars. While there are various gold IRAs, the Oxford Gold Group IRA outshines the competition when it comes to reliability, cost-effectiveness, convenience, and more.
In our Oxford Gold Group review, we will explain the features that make this gold IRA the better investment option.
Main Features of the Oxford Gold Group IRA
Oxford Gold Group makes trading precious metal IRAs easier for everyone. The company’s gold IRA offering is popular among people who want a safer alternative to paper-backed IRAs. That’s because unlike regular IRAs, a gold IRA is less likely to lose its value during periods of economic crisis.
When you buy a gold IRA from the Oxford Gold Group, you get actual gold bullions, but the company keeps the gold on your behalf. When your retirement account matures, you can collect your gold or sell it.
Having a professional like the Oxford Group keep your gold until retirement protects your wealth. You can contact an Oxford Gold Group partner for strategies on how to increase your assets before retirement as well.
Compared to other dealers, the cost of investing in gold IRAs with the Oxford Gold Group is lower. The signup process for opening a gold IRA account is quick and hassle-free. You can do it by filling out a short form online or by calling the company to provide your information.
Several people have already invested in the Oxford Gold Group gold IRA, and the feedback regarding the company’s efficiency, customer support, and honesty is predominantly positive.
Currently, Oxford Gold Group has a Trustpilot 4.8 rating and a Better Business Bureau A+ rating. On Consumer Affairs, it has a 4.5-star rating out of 5 stars, and Retirement Living ranks it as one of the best gold IRA companies.
Oxford Gold Group History and Background
The Oxford Gold Group has its head office in Los Angeles, California. The company started operations in 2017, but its owners have over two decades of experience in the precious metals industry. The insights of its owners and their commitment to customer satisfaction have helped the company establish itself as a leading gold investment firm.
You can purchase self-directed gold IRAs from the Oxford Gold Group, as well as IRAs for silver. The company can also provide you with tailored investment strategies to meet your retirement goals.
If you are not interested in IRAs, the Oxford Gold Group offers options for trading gold, silver, palladium, and platinum. However, investing in a gold IRA provides tax benefits that these other options don’t. For instance, when you sell the gold in your retirement account, you won’t pay tax on any gain on the value of your gold.
Oxford Gold Group Product & Services Offerings
Oxford Gold Group is one of the best platforms for buying and selling precious metals from the comfort of your home. The precious metals include gold and silver bars or coins. Platinum and palladium products are also available.
Aside from precious metals, you can invest in gold or silver IRAs. Opening a gold IRA account with the Oxford Gold Group is one of the fastest in the industry. The entire process takes 10 to 15 minutes, and you can do it online or via phone. All you need is your beneficiary information and a copy of your retirement account statement and driver’s license.
Once the account is up and running, you can fund it by paying cash, transferring, or rolling over funds from your existing retirement accounts. In exchange for the deposited amount, you will receive gold bars and coins, not paper or certificate products.
Oxford Gold Group’s clients have the option to store their gold in a depository where you can check on it, but not withdraw it. If you withdraw your gold before you turn 59½ years old, your withdrawal will be taxable and subject to a 10% premature withdrawal penalty.
An Oxford partner will manage your active account on your behalf to grow your assets. You can also contact the partner to develop a personalized investment plan that satisfies your retirement goals.
When your retirement account matures, you can withdraw your gold or have an Oxford partner liquidate it and give you cash. The whole process is hassle-free because the Oxford partners do all the heavy lifting for you.
Oxford Gold Group Pricing Information
The Oxford Gold Group makes investing in gold IRAs as inexpensive as possible. The company charges a flat yearly maintenance fee, which can be $175 for accounts valued at less than $100,000, and $225 if it is over $100,000.
The maintenance fee covers storage costs, but the Oxford Gold Group doesn’t charge shipping and brokerage fees. Plus, all account maintenance charges are tax-deductible.
If you have a large account, the Oxford Gold Group can offer rebates that reduce your maintenance fees. The size of your account will determine how much of a rebate you get, and your rebate can run for several years. The rebate program is so robust, many of the company’s gold IRA holders don’t pay maintenance fees during the first three years of running their account.
Oxford Gold Group Storage Options
After buying a gold IRA, the Oxford Gold Group will not hand over your gold bullion. Instead, it will keep it on your behalf in a secure facility. You can pick from several private, non-bank, and non-government IRS-approved facilities to store your gold.
For example, you can choose between Brinks Global Services, USA, and the Delaware Depository. Both have depository options scattered across the U.S., including in states that don’t tax precious metal transactions. That means you can pick a facility close to you and visit to check on your gold at your convenience.
Are you worried about something happening to your gold while it’s in storage? All Oxford depositories meet the latest standards and have all-risk coverage from Lloyd’s of London.
Oxford Gold Group’s Minimum Investment
The minimum investment is the smallest amount of Oxford Gold Group gold IRA you can buy. The minimum investment in a gold IRA is $7,500, but if you are buying metals outside an IRA, the minimum is $1,500.
How To Fund Your Oxford Gold Group Gold IRA
After creating your gold IRA account, you can fund it by either performing a trustee-to-trustee transfer or an IRA account rollover.
A trustee-to-trustee transfer involves moving some or all of the money in an existing retirement account to your new gold IRA account. Depending on your current retirement account’s custodian, transferring the funds may take five business days or less. Bank wires are the most popular choice for such transfers.
With the Oxford Gold Group, transfers are tax-free, and there are no IRS penalties. Plus, you can make as many transfers as you want.
If you choose an IRA account rollover, you will receive a check from your current retirement account custodian. The check will be for all the money in your retirement account, and you must deposit it in your gold IRA account within 60 days. Otherwise, you may have to pay taxes or penalties.
Regardless of which method you choose, the Oxford Gold Group can assist you with the entire process, including filing paperwork on your behalf. The company can also advise you regarding the best funding method for your gold IRA.
Reasons To Choose the Oxford Gold Group
- Seamless and quick signup process
- Informative website with lots of materials about investing in gold IRAs
- Efficient customer support
- Professional assistance with rolling over IRAs
- Highly experienced partners that provide top investment advice
- Insured and certified depositories for storing customers’ gold bullions
- Positive reviews on various independent platforms
- Flexible pricing and affordable annual fees
- Full control over your gold IRA account
What’s the process for liquidating an IRA account?
You can liquidate your gold holdings by using Oxford Gold Group’s buy-back program or the no-fee liquidation program. The buy-back program is the fastest option and involves the company paying you cash for your gold.
Which retirement accounts are eligible to rollover?
Retirement accounts you can roll over into your gold IRA are:
- SIMPLE IRA
- Pension plans
- Roth IRA
- Thrift Savings accounts
If you have another type of account, contact the Oxford Gold Group to enquire whether it is eligible for rollover.
Can I monitor how my precious metals portfolio is performing?
All customers get an online account for monitoring the performance of their gold. Your custodian will also send you quarterly statements regarding your account’s performance.
Can I add more funds to an existing gold IRA account?
After your account starts running, you can keep contributing to it. An Oxford partner can help arrange the deposit, or you can do it yourself.
Does Oxford Gold Group guarantee the rate of return on gold IRAs?
While gold is more stable than other commodities, market forces still affect it. For this reason, the Oxford Gold Group cannot guarantee that the value of your gold investment will be lower or higher by the time you are ready to withdraw.
To begin investing in Gold IRAs with the Oxford Gold Group, contact us today.