Oxford Gold Group Review – They Are Out Of Business!

The Oxford Gold Group once stood as the preferred option for precious metals investing. The unexpected failure of the company has left numerous investors shocked.

Because I prioritize intelligent financial choices I think it’s essential to discover how this failure occurred. This review offers valuable insights to guide your investment decisions and protect your financial future.

About Oxford Gold Group: History and Background

Oxford Gold Group started in 2017. Patrick Granfar and Kelsey Shuler created the company. They put their main office in Beverly Hills, California.

This fancy location made people think they were a sophisticated and trustworthy company for investing in precious metals.

Being in one of America’s richest neighborhoods helped them seem exclusive and like financial experts, which many potential investors liked.

The company said they wanted to help people protect their money by investing in precious metals. They focused on two main things: helping with Gold IRAs (special retirement accounts that can hold actual precious metals) and selling gold, silver, platinum, and palladium directly to customers.

In the early years, many people liked Oxford Gold Group. Customers often said good things about the knowledgeable staff and how the company gave personal attention to each investor.

But things changed quickly for Oxford Gold Group. In just a few years, the once-promising company got into big trouble and was accused of doing bad things. By 2024, things had gotten so bad that Oxford Gold Group had to close down completely.

This quick fall from being respected to being a warning story shows why it’s so important to keep checking on any investment company, no matter how good they seem at first.

Oxford Gold Group Services (as previously offered)

Before they closed, Oxford Gold Group offered services for investors interested in precious metals. While they’re not open anymore, looking at what they used to offer can help us understand what kinds of services are usually available from precious metals investment companies.

This information can help potential investors know what to look for when considering similar companies that are still in business.

Gold IRAs

A Gold IRA was one of the main services Oxford Gold Group offered. This special kind of investment account let people hold actual precious metals in a retirement account with tax benefits.

Here’s more detail on how their Gold IRA service usually worked:

• Account Setup: Oxford Gold Group’s team would help clients set up a self-directed IRA account made for holding precious metals. They worked with a custodian who knew how to manage these special accounts and follow IRS rules.
• Funding Options: Investors could put money into their Gold IRA in different ways. They could move money from other retirement accounts like traditional IRAs, Roth IRAs, 401(k)s, or 403(b)s. They could also add new money to their Gold IRA, up to the yearly limits set by the IRS.
• Metal Choices: Oxford Gold Group offered precious metals approved by the IRS for Gold IRAs. This usually included gold, silver, platinum, and palladium in coins and bars that met certain purity requirements. Popular choices were American Gold Eagles, Canadian Gold Maple Leafs, and various gold and silver bars from well-known mints.
• Storage and Management: To follow IRS rules, Oxford Gold Group worked with other companies to provide secure storage for clients’ precious metals. They also helped manage the IRA, including doing required paperwork, yearly reports, and helping with buying or selling within the account.

Direct Precious Metals Purchase

For investors who wanted to own precious metals outside of a retirement account, Oxford Gold Group let them buy directly. This service allowed people to buy physical gold, silver, platinum, and palladium to keep themselves or store privately.

Here’s more information about what this service included:

• Metal Types: Customers could choose from gold, silver, platinum, and palladium. Each metal had different investment qualities and prices to fit various investment strategies and budgets.
• Product Forms: Oxford Gold Group offered coins and bars from famous mints and refineries around the world. This included government-made coins like American Gold Eagles and Silver Maple Leafs, as well as bars and rounds from respected makers like PAMP Suisse and Johnson Matthey.
• Buying Process: Usually, people would buy over the phone with a company representative. This let customers get personal service and ask questions about their purchases. The company likely also gave up-to-date pricing information and market insights to help with buying decisions.
• Delivery Options: Clients could have their purchased metals sent directly to their home or another safe place they chose. Oxford Gold Group also offered to store purchased metals in partner storage facilities, giving extra security for those who didn’t want to keep the metals themselves.

Storage Options

Oxford Gold Group worked with several trusted storage companies to keep their clients’ precious metals investments safe.

While we don’t know exactly which storage partners they used, it’s common in this business to work with well-established, very secure facilities.

Here’s a closer look at the typical storage arrangements offered by companies like Oxford Gold Group:

Secure Facilities

Oxford Gold Group likely partnered with top storage providers like Brink’s Global Services, Delaware Depository, or similar high-security facilities.

These storage places are known for their advanced security measures and have good reputations in the precious metals industry. They usually have multiple layers of physical and electronic security to protect stored assets.

Segregated Storage

Clients often could choose segregated storage, where their precious metals would be kept physically separate from other investors’ holdings.

This ensures that the exact same coins or bars bought by the investor would be returned when asked for. Segregated storage gives extra assurance and can be especially important for collectors or those investing in rare coins.

Insurance

Metals stored in these professional facilities were typically covered by comprehensive insurance policies. This insurance would protect against potential losses due to theft, damage, or other unexpected problems. The coverage often extends to the full market value of the stored metals, giving investors peace of mind.

High-Tech Security

Modern precious metals storage facilities use cutting-edge security technologies to protect their clients’ assets.

This usually includes 24/7 surveillance cameras, armed security guards, advanced access control systems, and sophisticated alarm systems. Many facilities also use biometric security measures and keep detailed records of all stored metals.

Understanding these storage practices is really important for anyone thinking about investing in physical precious metals, whether through a Gold IRA or direct purchase.

While Oxford Gold Group is no longer in business, these storage considerations are still relevant when looking at other precious metals investment companies.

Potential investors should always ask about the specific storage options available, including the reputation of the storage facilities, insurance coverage, and the level of security provided to protect their valuable assets.

How to Get Started with Oxford Gold Group

Even though Oxford Gold Group has closed, looking at how they used to bring in new customers can teach us about how good precious metals IRA companies typically work.

This information can help potential investors understand what to expect when working with similar firms in the industry.

Here’s a more detailed look at the typical process for getting started with precious metals investments:

For Gold IRAs

Step 1: Initial Consultation

The process usually started with a deep conversation with a company representative. They would talk about the investor’s financial goals, how much risk they’re comfortable with, and their overall investment strategy.

The representative would explain the potential benefits and risks of investing in precious metals, especially within a retirement account.

Step 2: Account Establishment

If the investor decided to go ahead, the company would help set up a self-directed IRA account that could hold precious metals.

This process involved working with a qualified IRA custodian who specializes in alternative assets like precious metals. The custodian would handle the administrative parts of the account to make sure it follows IRS rules.

Step 3: Funding the Account

The next step was transferring money into the new IRA. This could be done by directly moving money from an existing retirement account (like a 401(k) or traditional IRA) or by adding new money, up to the IRS yearly limits.

The company would typically give advice on the most tax-efficient way to fund the account based on the investor’s individual situation.

Step 4: Selecting Precious Metals

With money available in the account, the investor would work with a company advisor to choose specific precious metals to buy.

This would involve discussing various options, including different types of metals (gold, silver, platinum, palladium) and forms (coins, bars) that meet IRS requirements for IRAs.

Step 5: Purchase and Storage

Once the selections were made, Oxford Gold Group would help buy the chosen metals for the investor. They would then arrange for the secure transport and storage of the metals in an IRS-approved storage facility.

The investor would get confirmation of the purchase and storage, along with regular account statements showing their holdings.

For Buying Metals Directly

Step 1: Product Selection

Investors would typically start by looking at the company’s catalog of available precious metals products. This might include browsing online resources or talking with a sales representative to understand the features and potential benefits of different metals and product types.

Step 2: Placing an Order

Orders were usually placed by phone with a company representative. This allowed for real-time pricing and the chance to ask questions about the products, current market conditions, and any promotions or special offers that might be available.

Step 3: Payment Processing

Oxford Gold Group likely accepted various payment methods, including bank wire transfers, checks, and possibly credit cards for smaller purchases. The company would give clear instructions on how to complete the payment securely.

Step 4: Delivery or Storage Arrangements

Customers could choose to have their purchased metals shipped directly to their home or another address they chose.

For those who preferred not to take physical possession, the company offered the option to store the metals in a secure, third-party facility.

In either case, insurance and tracking would typically be provided to ensure the safe transit or storage of the precious metals.

While this information is based on Oxford Gold Group’s past practices, it serves as a useful guide for understanding the general process of investing in precious metals.

Potential investors should always do thorough research and carefully evaluate any company they’re considering working with, paying close attention to their reputation, fees, and customer service quality.

Oxford Gold Group Fees and Pricing

Understanding how much precious metals investment companies charge is really important for making smart decisions.

While we don’t know exactly what Oxford Gold Group charged, we can give you an overview of what’s typical in the industry.

This information can help investors know what to expect and what questions to ask when looking at other precious metals investment firms.

Gold IRA Fees:

Setup Fee

Many companies charge a one-time fee to start a new Gold IRA account. This fee usually ranges from $50 to $300, depending on the company and how complicated the account setup is. Some firms might waive this fee for bigger investments or as part of special offers.

Annual Management Fee

This ongoing cost covers running your IRA account. It often changes based on how much money is in the account.

Fees can range from 0.5% to 2% of the account value each year, with some companies charging a flat fee instead, typically between $75 and $300 per year.

Storage Fee

Keeping precious metals safe is a big part of Gold IRAs. Oxford Gold Group’s storage fees were said to be around $200 per year, which is normal for the industry.

Some companies charge different storage fees based on how much metal is stored, while others charge the same amount no matter how much you have.

Transaction Fees

Some firms charge extra for buying or selling metals within your IRA. These fees can be a flat rate per transaction (like $40-$50) or a percentage of the transaction value (usually 1-2%).

It’s important to understand how these fees might affect your overall investment strategy, especially if you plan to actively manage your holdings.

Direct Purchase Costs:

Metal Prices

Companies make money by charging more than the spot price of precious metals. This markup can be very different between firms and products.

For popular products like gold and silver coins, markups typically range from 3% to 10% above the spot price. Rarer or more specialized products may cost even more.

Shipping and Insurance

For direct delivery of metals, customers often have to pay for shipping and insurance. These fees can change based on how much the shipment is worth and how it’s being delivered.

Some companies offer free shipping for orders above a certain amount, while others include these costs in their overall pricing.

Transparency Issues

One of the big criticisms of Oxford Gold Group (and some similar companies in the industry) was that they weren’t clear about their fees.

Common problems included:

• Hidden fees that surprised customers after they had already paid.
• Charging more for precious metals than what’s normal in the industry.
• Extra charges for services that customers thought were included in the base price.

Good precious metals investment companies should clearly tell you about all their costs upfront. This honesty lets investors accurately compare different providers and understand the true cost of their investment.

When looking at any precious metals company, potential investors should:

• Ask for a detailed list of all fees in writing.
• Ask for a breakdown of all costs for opening and maintaining an account.
• Ask about any possible hidden fees or charges.
• Compare pricing and fee structures across multiple providers before making a decision.

Remember, the lowest fees don’t always mean the best value. It’s important to think about the quality of service, reputation, and overall investment guidance provided by the company along with their fees.

Oxford Gold Group Customer Reviews and Ratings: A Decline in Trust

Looking at how customers’ opinions of Oxford Gold Group changed over time teaches us important lessons.

This shift in what people thought about the company warns investors and shows why it’s so important to keep checking on investment firms, even after you start working with them.

Early Positive Reviews

• When Oxford Gold Group first started, most customers said good things about them.
• Clients often praised the company’s knowledgeable staff, saying they were good at explaining complicated investment ideas in ways that were easy to understand.
• Many investors liked how the company gave personal attention to each customer.
• Oxford Gold Group had high ratings on review websites like Trustpilot and an A+ rating with the Better Business Bureau (BBB) during this time.

Change in Customer Experiences

As we got closer to 2024, there was a big change in how customers felt about the company:

• Delivery Delays: More and more customers said they were waiting a long time to get the precious metals they bought. What started as a few isolated cases grew into a pattern of late or unfulfilled orders.
• Communication Breakdown: Many clients were frustrated because the company stopped responding well. When they tried to reach customer service or get updates on their orders, they often had to wait a long time, couldn’t get through, or got vague answers.
• Unfulfilled Orders: The worst complaints came from customers who said they paid for precious metals but never got them. These reports ranged from getting only part of what they ordered to not getting anything at all.

Impact on Ratings and Reputation

These growing problems seriously hurt Oxford Gold Group’s reputation in the industry:

• The Better Business Bureau took away the company’s accreditation, saying there were too many complaints and unresolved customer issues. This is a rare and serious action that really damages a company’s credibility.
• Ratings on Trustpilot and similar websites dropped sharply as negative reviews poured in. The once-positive opinions were overwhelmed by stories of financial losses and broken trust.
• Industry watchdogs and financial advice websites started warning people about doing business with Oxford Gold Group, further eroding public confidence in the company.

This dramatic change in how customers felt about Oxford Gold Group reminds us how quickly a company’s reputation can change in the financial services industry.

It shows why it’s so important to keep checking on any company you trust with big investments. Even companies that start with strong reputations can have quick declines, highlighting the need for investors to stay alert and get information from many sources when making financial decisions.

Allegations Against Oxford Gold Group and Closure

Oxford Gold Group shut down because of serious accusations about how they did business. This part looks deeper into the specific problems that plagued the company in its last months of operation.

Failure to Deliver Precious Metals

Many customers said they paid Oxford Gold Group a lot of money for precious metals but never got them. These claims ranged from getting only part of what they ordered to not getting anything at all.

Some people who watch the industry thought the company might have kept taking new orders even when they knew they couldn’t fulfill the orders they already had. This raised questions about whether they were doing fraudulent things and mishandling customer money.

While we don’t know exactly how much money was involved in these unfulfilled orders, some people think it could be millions of dollars, affecting a lot of investors.

Better Business Bureau Investigation

The Better Business Bureau (BBB) started a formal investigation into Oxford Gold Group after getting a lot of customer complaints. They did this because of how many complaints they got and how serious the issues were.

After their investigation, the BBB did something unusual – they took away Oxford Gold Group’s accreditation. They only do this when a business has seriously broken BBB rules and hasn’t fixed ongoing problems.

The BBB put out a public warning telling consumers about the risks of doing business with Oxford Gold Group. This warning probably played a big part in further damaging the company’s reputation and credibility in the market.

Company Shutdown

Facing mounting accusations and legal pressures, Oxford Gold Group suddenly stopped operating. This abrupt closure left many customers unsure about what would happen to their investments or pending orders.

The company’s website was taken down, and all ways to contact them, including customer service phone lines and email support, stopped working. This lack of communication made affected customers even more anxious and frustrated.

As of now, we don’t know of any efforts by Oxford Gold Group or its owners to address outstanding customer claims or give money back for unfulfilled orders.

This silence has led people to wonder about possible legal consequences and whether official authorities might investigate.

Warning to Investors

Given what happened, it’s really important to say again that Oxford Gold Group is not a good choice for precious metals investments anymore. Trying to do business with this closed company could result in big financial losses.

Investors who might have outstanding orders or unresolved issues with Oxford Gold Group should think about getting legal advice and reporting their experiences to relevant financial authorities.

This cautionary tale shows why it’s so important to do thorough research when choosing a precious metals investment company.

Investors should prioritize firms with long-standing good reputations, clear compliance with regulations, and transparent business practices.

Also, spreading out investments and not putting too much money with one provider can help reduce risks associated with company-specific problems.

Alternatives to Oxford Gold Group

For investors interested in precious metals IRAs or buying gold and silver directly, there are several reputable companies to consider. These alternatives have maintained better reputations and more consistent track records in the industry.

Here’s a more detailed look at some top options:

1. Goldco

• Services Offered: Goldco focuses on Gold and Silver IRAs, and also sells precious metals directly. They offer a wide range of IRS-approved coins and bars for IRA investments.
• Customer Service: Goldco is known for great customer support. They give each client a dedicated account executive who helps them through the whole process, from setting up an account to choosing the right precious metals.
• Educational Resources: Goldco offers lots of educational materials, including guides, videos, and market analysis, to help investors make informed decisions about investing in precious metals.
• Ratings and Reviews: Goldco has an A+ rating with the Better Business Bureau and consistently gets positive reviews on Trustpilot. Several well-known people in the financial world have also endorsed them.
• Transparency: Unlike some competitors, Goldco clearly shows their fees and pricing structure on their website, making it easier for potential investors to understand the costs involved.

2. Augusta Precious Metals

• Services Offered: Augusta Precious Metals focuses on Gold and Silver IRAs, as well as selling precious metals directly. They offer a carefully chosen selection of high-quality gold and silver products.
• Lifetime Support: One of Augusta’s standout features is their commitment to providing lifetime account support. This includes access to their economics analytics department for personalized insights into market trends and economic factors affecting precious metals.
• Educational Approach: Augusta is known for focusing on education, offering one-on-one web conferences with economic experts to help clients understand how precious metals fit into a diversified portfolio.
• Reputation: The company has an A+ rating with the Better Business Bureau and has received many awards for customer satisfaction. They have a particularly strong reputation for being transparent and avoiding pushy sales tactics.
• Minimum Investment: Augusta requires a higher minimum investment compared to some competitors, which may make it more suitable for investors with larger portfolios.

3. American Hartford Gold

• Services Offered: American Hartford Gold provides Gold IRAs and direct sales of gold, silver, and platinum products. They offer a variety of coins and bars from reputable mints around the world.
• Family-Owned Business: As a family-owned and operated company, American Hartford Gold prides itself on personalized service and building long-term relationships with clients.
• Price Match Guarantee: They offer to match prices, ensuring competitive pricing on their precious metals products.
• Buyback Commitment: American Hartford Gold stands out because they promise to buy back metals from customers, giving investors an added way to sell their investments if needed.
• Educational Resources: The company provides lots of educational materials, including market updates, newsletters, and guides to help investors stay informed about the precious metals market.
• Ratings: American Hartford Gold has an A+ rating with the Better Business Bureau and has received positive reviews for its customer service and straightforward approach to precious metals investing.

When looking at these or other precious metals investment companies, investors should think about these factors:

• Following Rules: Make sure the company follows all relevant financial regulations and industry standards.
• Customer Reviews: Look for recent, verified customer reviews on multiple websites to get a balanced view of how well the company performs and how satisfied customers are.
• Fees: Compare the fees and costs for account setup, management, storage, and transactions across different providers.
• Product Selection: Consider the range of precious metals products offered and whether they match your investment goals.
• Storage Options: Evaluate how secure and well-insured the storage is for metals, as well as how flexible you are in choosing storage locations.
• Buyback Policies: Understand the company’s policies for selling or cashing out your precious metals investments in the future.

By carefully considering these factors and doing thorough research, investors can make more informed decisions when choosing a precious metals investment company that fits their financial goals and how much risk they’re comfortable with.

Pros and Cons of Oxford Gold Group

Even though Oxford Gold Group isn’t operating anymore, looking at what they did well and where they fell short can teach us valuable lessons for investors thinking about other precious metals companies.

This look back can help identify important things to consider when evaluating potential investment partners in the industry. This assessment is based on customer feedback and industry observations from before the company closed.

Pros:

1. Diverse Product Offering

Oxford Gold Group offered a wide range of precious metals for both IRAs and direct purchase, including gold, silver, platinum, and palladium in various forms.

This variety allowed investors to customize their portfolios to match their specific investment goals and risk tolerance.

2. Educational Resources

The company provided educational materials and resources to help investors understand the precious metals market, including market analysis, investment guides, and personalized consultations.This commitment to education was particularly helpful for people new to precious metals investing.

3. Comprehensive Services

By offering both gold IRA services and direct purchases, Oxford Gold Group provided a one-stop shop for investors interested in different aspects of precious metals investing.

This convenience appealed to many customers who preferred to work with a single provider for all their precious metals needs.

4. Reputable Storage Solutions

The company partnered with well-known and secure storage facilities to safeguard customers’ precious metals investments. This attention to security was crucial for investors concerned about the safety of their physical assets.

Cons:

1. Serious Allegations of Non-Delivery

The biggest issue facing Oxford Gold Group was the many allegations from customers who said they paid for precious metals but never received their orders. These accusations severely damaged the company’s reputation and trustworthiness.

2. Loss of BBB Accreditation

The Better Business Bureau took away Oxford Gold Group’s accreditation because of unresolved customer complaints.

This was a major red flag. This action by the BBB indicated serious problems with the company’s business practices and customer service.

3. Deteriorating Customer Service

Many customers reported that the company’s responsiveness and quality of customer service got much worse, especially in the time leading up to its closure. This breakdown in communication left many investors feeling frustrated and abandoned.

4. Lack of Transparency in Pricing

Oxford Gold Group was criticized for not being fully clear about their fees and pricing structure. This lack of clarity made it hard for potential investors to make informed decisions and compare offerings with other companies in the industry.

5. Abrupt Closure

The sudden shutdown of the company left many customers in limbo, with outstanding orders unfulfilled and investments unaccounted for. This abrupt end to operations highlighted the risks of trusting significant assets to a single provider.

6. Limited Online Information

Compared to some competitors, Oxford Gold Group provided relatively less detailed information on their website about their products, services, and fees.

This lack of readily available information could make it challenging for potential investors to do thorough research.

Conclusion: Lessons Learned and Moving Forward

The downfall of Oxford Gold Group reminds us how important it is to be careful and do your homework when investing in precious metals.

While the company is no longer in business, what we can learn from its rise and fall can help investors navigate this complex market.

When choosing a precious metals investment company, it’s crucial to look for transparency, consistent positive customer feedback, and a proven track record of ethical business practices.

Key lessons from the Oxford Gold Group case include:

• Always do thorough research on any investment company, even if they seem good at first or have early positive reviews.
• Look for clear, upfront information about fees, pricing, and all aspects of the investment process.
• Pay attention to recent customer reviews and ratings from reputable sources like the Better Business Bureau.
• Be cautious of companies that become unresponsive or show signs of declining customer service.
• Consider spreading your precious metals investments across multiple providers to reduce risk.

Moving forward, investors interested in precious metals should consider working with well-established, reputable companies that have shown long-term stability and customer satisfaction.

It’s a good idea to talk to financial advisors and do extensive research before making any big investment decisions.