OneGold Review 2023
In a nutshell: OneGold is an online platform that gives users a streamlined way to enjoy precious metals ownership.
While the platform does sell physical metals directly to customers, it’s most well-known for enabling users to begin precious metal investing without ever actually needing to handle this type of products themselves!
The platform sells digital assets that are backed by real physical metals. These metals are stored in secure vaults, providing investors with peace of mind knowing that their real-world metals are safe.
Offering straightforward product pricing, multiple storage options, and having received multiple positive customer reviews, OneGold seems great on paper. How does it work in real life? Find out in my OneGold review!
| Service Type | Fees | Promotion |
|---|---|---|
| Precious metal dealer | Gold storage: 0.12% Silver storage: 0.30% $5/quarter minimum storage fee $25 bank wire fee | N/A |
OneGold is best for…
Those who would prefer to deal with digital assets, rather than physical gold coin or bar products. Each precious metal investment you make via the site represents a real-life product, but it doesn’t require you to deal with the hassle of obtaining or safely securing your metals.
As such, OneGold is a great option for those just starting out with precious metal investing. Since it supports fractional ounces, the platform is also a good fit for those with limited funds to invest.
- Insured via Lloyd's of London
- Accessible via mobile app
- Founded by an industry leader
- Learning curve
- IRAs are third-party
- Current spot prices can change
Table of Contents
What is OneGold?
OneGold is a digital platform specializing in precious metal investments, headquartered in Oklahoma City, OK. Established by AMPEX, a leader in the precious metals industry, OneGold aims to simplify the process of investing in precious metals for both seasoned and casual investors.
Although they do not offer a wide variety as some other precious metals companies, OneGold focuses on popular metals like U.S. gold and silver. What sets it apart is its competitive pricing. Leveraging digital representations of assets, OneGold effectively minimizes operational expenses, passing the savings on to its customers.
External OneGold Review & Ratings
| Site | Rating | |
| Product Hunt | 5 | |
| 4.9 from 63 reviews | ||
| Apple App Store | 4.6 from 4,325 reviews | |
| Google Play | 4.6 from 3124 reviews | |
| Google My Business | 4.6 from 153 reviews |
After reading many customer ratings, here are some telling reviews, from traders who have experienced the platform firsthand:
While reading the OneGold reviews, I noticed a few trends. The most common comments I read in the positive reviews, were in regards to the excellent customer service delivered by the OneGold team. OneGold’s focus on customer service is evident from many reviewers. Precious metals investors also liked how easy it is to use the app.
As for negative reviews, the number one complaint was delays in withdrawing funds. Judging from the responses from OneGold, this delay is usually caused by user error. For example, the user filling out the incorrect information for a bank transfer or not understanding the annual service fee attached to storing precious metals in their secure, storage vault.
If you want to dive deeper into a wide range of viewpoints, you can consider having a look at the OneGold Reddit reviews. Although I must note, the reviews on Reddit aren’t from verified users like the Google Play store OneGold reviews.
Features
- Secure Precious Metal Products: OneGold offers gold, silver, and platinum for U.S. investors, securely held in vaults approved by Loomis International, COMEX, or AMPEX in the USA. Each product is fully insured against theft or loss by Lloyd’s of London.
- OneGold Mobile App: This app enables 24/7 trading, providing convenience for silver and gold investment. It features live spot prices, daily market news, and portfolio management tools to aid in informed investment decisions.
- Custom Alerts: Set personalized alerts on the app to be notified when metal prices hit your desired levels, allowing for strategic buying even outside market hours.
- AutoInvest Feature: A distinctive feature in the OneGold app, AutoInvest automates orders for real metal, ideal for building a metal-backed savings account. It can be set up on various frequencies – daily, weekly, monthly, or quarterly – and tailored to specific needs in terms of metal ounces or dollar amounts.
- Precious Metals IRAs: OneGold assists in diversifying investments or retirement accounts using self-directed IRAs. They provide a secure and trusted platform for IRA investments, including palladium, platinum, gold, and silver, all accepted by the IRS for IRAs.
- Digital Asset Trading: OneGold’s core feature is buying and selling digital assets, representing physical metals. Investors can quickly start purchasing metals for portfolios, with the option to redeem physical metals through APMEX.
- Asset Redemption: Investors can redeem their digital precious metals investments at the current spot price minus a low 0.30%.
Pricing & Plans
Now that you have a general idea of the services offered by OneGold, I want to go over which services are available for free (and which ones you should expect to pay for).
Free
Creating an account with OneGold is free. You can sign up directly from the home page (where you can conveniently see the current price of gold, silver, and platinum!).
Upon joining the customer base, you will have instant, 24/7 access to OneGold. This will allow you to view current metals prices, buy metals, sell metals, and redeem metals at any time.
The metals you can purchase are determined by your location. While US users have access to gold, silver, and platinum, non-US users can only purchase gold and silver.
Paid
OneGold does require a minimum deposit of $100 each time you fund your account. However, you won’t actually need to spend this much per transaction as the platform offers support for fractional purchases.
When purchasing platinum, gold, or silver products as digital assets, you will be responsible for paying for the price of the metals. You will also be subject to storage fees. Payments can be made via check, credit card, bank account, or Bitcoin.
If you decide to redeem your digital assets, the customer assets you’ve paid into will not be sent to you (as you’re likely only a fractional owner). Instead, the equivalent of the value of the current spot price (-30%) will be shipped to you in the appropriate metal type via APMEX.
Domestic shipping is free, but international shipping will incur fees.
OneGold Competitors
A OneGold review wouldn’t be complete without discussing some of the notable competitors in the precious metals market. If you are looking to add Palladium products to your investment portfolio, Goldmoney might be your answer. An ideal investment option for Palladium enthusiasts with high investment levels, Goldmoney is a reliable option for investors. To see how they stack up, you can read my OneGold vs Goldmoney comparison.
Precious metal investors who prefer to store their metals themselves might find BullionVault advantageous. BullionVault helps facilitate peer to peer precious metals trading on their platform as well, if that is what you are into. To see which is better for your situation, consider giving my OneGold vs BullionVault article a look.
Is OneGold Right for You?
As I’ve shown in my OneGold review, OneGold isn’t like most other investment platforms. Using digital assets to represent precious metals investments, the approach may not be a traditional one, but it’s certainly one that’s worked for many users so far.
If you’re interested in this non-traditional approach to precious metals investing, you can check out OneGold for yourself by clicking here!
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