OneGold Review
OneGold buys investment-grade precious metals direct from wholesalers, which allows them to pass along savings to investors. OneGold charges fewer fees than other gold dealers and sells gold, silver and platinum with just a small premium over spot. The company was founded by APMEX, a trusted precious metals leader, and Sprott, one of the biggest names in the alternative asset investment industry.
OneGold has streamlined the gold investing process so customers can capitalize on the advantages of owning precious metals with the creation of its mobile app. Investors can utilize the mobile app to gain constant access to live spot prices, 24/7 trading, interactive portfolio tools, custom market alerts, and daily market news.
Plus, as a way to build trust and transparency with its customers, OneGold receives a detailed monthly inventory report from its vaulting partners. OneGold uploads the latest inventory reports as public records so investors can confirm that products purchased on OneGold are backed by physical metal.
Pros
- Displays real-time spot and bid prices online
- Buy and sell 24/7 on the easy-to-use mobile app
- Informative, detailed website with lots of educational resources
- No account minimums and low fees
Cons
- Less tech-savvy users may experience a learning curve while using the platform
- Live support is only available 5 days a week
Gold and other precious metal IRAs are an investment and carry risk. Consumers should remain alert to claims that customers can make a lot of money in these or any investments with little risk. As with any investment, you can lose money. Past performance is not a guarantee of future performance results. Consumers should also gain a clear understanding of the fees associated with any investment before agreeing to invest.
OneGold Services
With a free OneGold account, you can own fully-insured vaulted gold, silver and platinum for an affordable price. OneGold purchases investment-grade metals from wholesalers and keeps them stored in its secure vaults. The all-digital platform includes an easy-to-use mobile app and offers 24/7 access to your investments. If you want to take physical possession of your assets, you can redeem the metals and have them shipped from the vault to your home within one business day.
In addition to its mobile app, OneGold has several standout features that simplify how you buy and sell gold.
- AutoInvest: Create an automatic, recurring buy order for your preferred metal based on a set amount of dollars or ounces.
- The Bullion Card: Get the industry’s first precious metals rewards credit card that allows you to accumulate points and invest them into gold, silver, or platinum.
- Switch and Save: Switch to OneGold, and they’ll reimburse you up to $1,000 on your first purchase.
How to Buy Gold With OneGold
OneGold’s digital platform makes buying and selling gold easy. Simply create an online account to start browsing U.S. gold, silver, and platinum products (you can also search for products from Switzerland, Canada, and the U.K.) Purchase metals using bank wires, ACH, check, credit card, or PayPal. The assets you buy will remain in the secured vaults if you want to buy and hold, but you can also sell and withdraw funds from your OneGold cash balance at any time.
If you opt to take physical possession of your holdings, you can redeem your funds for coins, bars or rounds online via APMEX drop shipping. OneGold states that the redemption process is similar to online shopping on a retail ecommerce site.
OneGold Precious Metal IRAs
OneGold also offers the opportunity to diversify your retirement with a self-directed precious metals IRA. You’ll work with one of OneGold’s preferred custodians to create and maintain your IRA. Simply open an account with a custodian of your choice and fund the account (you can set up a new account or roll over funds from an existing IRA). Then, you’ll create a free OneGold account to start your OneGold IRA.
OneGold works with the following custodians:
- STRATA Trust Company
- Kingdom Trust
- New Direction Trust Company
- Preferred Trust
- RocketDollar
OneGold Costs
OneGold claims to offer the lowest industry premiums and fewer fees than its competitors. It lists the metal premium on the buy page, so you can easily compare the “ask” and “spot” prices before purchasing. OneGold premiums do not change based on transaction size—this is another feature that differentiates OneGold from its competitors.
Gold, silver, and platinum spot prices fluctuate daily. OneGold displays real-time price data on its website and updates it every 60 seconds. For example, the spot price per gold ounce at the time this article was written was $1,942.20.
| Precious metal premiums | Gold: 0.80% Silver: 2.00% Platinum: 3.70% |
| Storage fees | Gold: 0.12%, $5 quarterly minimum Silver, platinum: 0.30%, $5 quarterly minimum Annual storage minimum: $20 |
| Roundtrip transaction costs | Gold:1.6% Silver: 3.3% Platinum: 5.3% |
| Withdrawal fees | $25 for bank wires, otherwise free |
OneGold Storage Options
OneGold stores U.S. precious metals with APMEX, Brinks, Loomis International, or CNT (COMEX Approved Vault). The metals are fully insured against theft and physical loss by Lloyds of London. While competitors often change monthly storage minimums, OneGold charges a small quarterly fee of $5.
You can redeem gold from the vault for physical possession at any time in amounts as small as one gram. Your order usually ships within one business day with no shipping fees.
OneGold Complaints
OneGold has an A rating with the Better Business Bureau and a customer rating of 3.9 out of five stars. The BBB website has two complaints on record, but they stem from technical issues with user accounts, not with the company itself. OneGold also has more than 140 reviews on Google, many of which mention how easy it is to manage portfolios on the website. Other reviews reference low fees—though some warn that its “sell fees” are a bit steep.
OneGold FAQs
How does the OneGold mobile app work?
The mobile app makes it easy to manage your investment portfolio with live spot prices, 24/7 trading, interactive portfolio tools, custom market alerts, and daily market news. Download the app for free in the App Store and Google Play Store.
Can I keep the gold I buy from OneGold in my home or a safe deposit box?
If you buy precious metals outside of an IRA, you are free to store your bars, bullion or coins wherever you like. While storing gold at home can be risky without proper protections, OneGold will ship your metals to you in discreet packaging, and they remain fully insured until you receive them.
Can you get a gold IRA with OneGold?
Yes, you can manage your gold IRA on the OneGold platform. You’ll work with one of its preferred custodians to create and fund your account, and then link the account to your OneGold profile.
Does OneGold manage client portfolios?
OneGold offers a platform to buy and sell alternative assets; they do not employ financial advisors to help you manage your investments. OneGold refers clients to its preferred custodial and trustee services to set up and fund gold IRAs.
Who owns OneGold?
OneGold leverages the knowledge, experience, and resources of APMEX, a leading online precious metal dealer, and Sprott, a top alternative asset investment manager.
Conclusion
OneGold is a great option to buy and sell gold if you want easy, continuous access to your portfolio. Investors can manage their assets via OneGold’s all-digital platform and mobile app. While the company does not offer portfolio management services, it does employ live support agents to help maintain your online account. Customers looking to buy and hold gold will appreciate its low fees and competitive pricing.