A gold IRA with Oxford Gold Group is very affordable. The company charges less than the usual fees required by a Gold IRA company.
The usual costs of a gold IRA involve:
Setup fee - $50-$100
Wire fee - $30
Custodian Fee - $75-$300
Annual/Storage Fee - $180-$280
Delivery Fee - Usually depending on the investment amount
Oxford Gold Group’s fees are not high. According to Consumer Affairs, the only fee to pay for a gold IRA ranges between $175 for accounts below $100,000 and $225 for accounts above $100,000, to serve as maintenance costs. Oxford does not charge for setup and wire fees. The company likewise requires a minimum investment of $7500 for gold IRAs.
As a precaution, it is best to do further research or call the company directly because Oxford Gold Group’s website does not contain any information about its fees. You can also research the fees of other gold IRA companies to compare with Oxford Gold Group IRA fees.
One such company is Augusta Precious Metals. You can read our article on Augusta Precious Metal Fees to determine its viability as a possible precious metals company you can invest in.
Oxford Gold Group IRA Process
Oxford Gold Group offers processing of gold and other precious metals IRA to its customers, as well as serving individuals who want to invest in precious metals but not within an IRA.
The process of buying gold or other precious metals IRAs from the company is very simple in three easy steps:
1.Fund your precious metals IRA
Oxford Gold Group staff will assist you in funding your gold IRA through rollovers from your 401k, traditional, or Roth IRA. Rollovers are the better option for funding your precious metals IRA because they are faster to process and protect you from paying tax penalties if you are aged younger than 59 ½.
2. Convert funds to physical gold
Oxford Gold Group can assist with finding a custodian for your gold IRA after funding is settled. A custodian arranges all the tax reporting and documentation for your gold IRA. Oxford partnered with Equity Trust and STRATA Trust as their recommended custodians. Both Equity and STRATA are trusted custodians that work well with most of the gold IRA companies.
Once you’ve chosen a custodian, you can already select the physical gold or other precious metals you would like to purchase under your gold IRA. Oxford Gold Group’s specialists can guide you in choosing the right coins or gold bars to ensure that they are IRS-certified for gold IRAs.
3. Delivery of physical gold
The last step to complete your gold or silver IRA is the delivery of the physical precious metals you chose the delivery. Oxford Gold Group does not charge delivery fees and can deliver the coins or bars to your doorstep. But since the IRS enforces that all precious metals should be stored in an accredited depository, Oxford Gold will ensure your physical gold and other precious metals are stored securely.
Oxford Gold stores your precious metals in the Delaware Depository or Brinks Global, the two IRS-accredited depositories they have partnered with. The flat maintenance fee covers storage costs charged by these depositories.
Growing Your Oxford Gold IRA Investment
Investing on Knowledge
Growing your gold IRA investment involves some research and learning. Oxford Gold Group has resource materials for new investors on its website. These resource materials can help you plan how to grow your gold IRA. The company segregated its educational resources into three sections, namely:
Investing News Roundup
Investment news is updated regularly by The Oxford Gold Group Team.
Educational Articles
A learning center that discusses the ABCs of a gold IRA. It also contains articles about investing and an extensive FAQ section about investing in precious metals.
Precious Metals Charts & Prices
This section contains price charts of gold, silver, platinum, and palladium with historical performance tables that can show you the price changes throughout different periods of time.
Besides these educational resources, investors can avail of Oxford Gold Group’s free investor’s guide, which is available on request. With all these educational resources, new investors are given a fair chance of investing wisely.
To make the most out of your investment, you can also explore any special offers or promos that Oxford Gold Group is offering. Oxford Gold is not implementing any promos right now, but it offers maintenance fee rebates for large investments.
Quick facts on gold IRAs
1. Invest only a portion of your funds in gold IRAs.
Although investing in gold is a good way to diversify your portfolio, do tread lightly when you make your Oxford Gold investment. As the saying goes, “don’t put all your eggs in one basket.” Investing 5-10% of your retirement fund is a good start.
You can read our article on gold IRA investments for more information to guide you in managing your investment portfolio.
2. There are no guarantees.
Oxford Gold Group does not guarantee the return rate for precious metals IRAs. Like other investments, gold IRAs carry risks with them, subject to factors that Oxford Gold or any gold IRA company has no control over. Thus, Oxford Gold staff can advise you on your investments but cannot guarantee that your investment will make as big a profit as you would want it to.
3. Funding a gold IRA has a maximum limit
You can add more funds to an existing gold IRA account every year, but with a maximum contribution limit imposed by the IRS.
The maximum contribution limit to a gold IRA is $6,500 annually if you’re aged below 50, and $7,000 if you’re above 50.
Conclusion
Overall, Oxford Gold fees are lower compared to other gold IRA companies. Like American Hartford Gold, it doesn’t charge any setup of wire fees, which Goldco Precious Metals, Birch Gold Group, and Augusta Precious Metals charge. The company’s minimum investment requirement of only $7,500 is lower than what Noble Old Group, Patriot Gold Group, and Advantage Gold require.
The Oxford Group also has an excellent reputation for its six years of operations since 2017. Any Oxford Gold Group Review gives positive feedback on the company. It was even included in the best gold IRA company list by Money.com recently. Read our Oxford Gold Group Review for more details on Oxford’s customer satisfaction ratings and business reviews.