Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Personal Finance Gold Oxford Gold Group Review 2024: Out of Business Due to Serious Customer Allegations Updated Dec 11, 2024 7-min read Reviewed by Kristen Barrett, MAT Reviewed by Kristen Barrett, MAT Expertise: Writing, content design, proofreading, grammar, vocabulary Kristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, and has edited and written personal finance content since 2015. Learn more about Kristen Barrett, MAT ❗ Important: We do not recommend this company. In August 2024, numerous complaints alleged that Oxford Gold Group failed to place gold in depositories after receiving thousands of dollars in retirement savings. The company has since removed its website and is no longer in business. Read about our highest-rated gold investment companies here: 4 Best Gold IRA Companies: Compare & Review Accounts Learn how to avoid gold IRA scams: 6 Gold IRA Scams to Avoid Oxford Gold Group was once regarded as a facilitator for individuals aiming to secure their financial future through investments in gold and other precious metals. The company claimed expertise in converting traditional IRAs and 401(k)s into precious metals IRAs and offering direct sales of precious metals with secure storage. However, recent complaints allege that the company failed to invest transferred funds as promised, with many investors reporting that the gold never appeared in the depository. These serious allegations led to the shutdown of its website and business. Naturally, we cannot recommend potential investors consider Oxford Gold Group for any future investment needs, but we can give you an overview of the company’s history and recommend some strong alternatives. Table of Contents Skip to Section How did Oxford Gold Group’s services work?Alternatives to Oxford Gold GroupIs Oxford Gold Group a reputable company?Oxford Gold Group FAQ How did Oxford Gold Group’s services work? Oxford Gold Group claimed to provide a streamlined process for both setting up a gold IRA and purchasing precious metals, but recent complaints cast serious doubt on its reliability. Here’s an overview of how its services were supposed to work: Initiate the process: Investors were encouraged to contact Oxford Gold Group to discuss their options, whether for setting up a gold IRA or directly purchasing precious metals. However, many have reported misleading guidance and investments that were never fulfilled. Select your metals: Customers could choose from a variety of gold, silver, platinum, and palladium products, either for their IRA or as a direct purchase. Despite the range of offerings, numerous complaints indicate that the metals were never delivered, leaving investors without their expected assets. Fund your account: The company accepted various funding methods, including cash contributions, tax-free rollovers, and IRA transfers. Unfortunately, reports suggest that funds were often taken without the corresponding metals being secured, resulting in significant financial losses. Delivery and storage: Oxford Gold Group claimed to offer secure shipping and storage options, partnering with depositories like Brink’s Global Services. However, many investors never received their metals, raising serious concerns about the company’s ability to deliver on its promises. Cost considerations: The company did not fully disclose its fees, leading to unexpected charges such as commission fees, storage fees, and markups. Without a money-back guarantee, investors were left without recourse when the metals were not delivered. Overall, Oxford Gold Group’s services were supposed to help investors secure their financial futures through precious metals, but the numerous reports of undelivered investments and hidden fees suggest that the company failed to live up to its promises. Image from Oxford Gold Group’s website, which as of August 2024, is shut down Alternatives to Oxford Gold Group Instead of Oxford Gold, here’s our top-rated gold IRA and precious metals dealer we recommend you consider, and how it stacks up by comparison. Best Overall 4.9 /5 Visit Site Why we recommend American Hartford Gold instead American Hartford Gold has established itself as a trusted leader in the precious metals industry since 2015, offering comprehensive resources for gold IRA investors. Headquartered in Los Angeles, the company provides a wealth of information on its website, including up-to-date spot prices, making it easy for investors to stay informed. Opening a precious metals IRA with American Hartford Gold is straightforward, with specialists available six days a week to guide you through the process. The company also frequently offers promotions, such as up to $5,000 in free silver and up to three years with no IRA fees, making it an attractive option for those looking to diversify their retirement portfolio. A+ rating from the Better Business Bureau Simple buyback policy with no liquidation fees Transparent pricing with IRA-approved gold clearly marked Excellent customer reviews Generous promotional offers, including free silver and waived fees Only available to U.S. investors Some services may require speaking with a representative for full details Read More The best gold IRA companies and the best online gold dealers Is Oxford Gold Group a reputable company? Considering customer reviews is crucial when evaluating a financial product, as they provide insight into a company’s reliability and customer service. However, recent developments have significantly tarnished Oxford Gold Group’s reputation. Here’s a summary of current customer review scores for Oxford Gold Group: SourceCustomer ratingKey notesBetter Business Bureau (BBB)3.68/5 (out of 100 reviews)F rating; accreditation revoked June 2024Trustpilot1.9/5 (out of 239 reviews)Complaints of investors losing retirement funds Data collected August 2024 Oxford Gold Group’s BBB accreditation was revoked on June 25, 2024, due to its failure to address disputes in good faith. The BBB opened an investigation into the firm after receiving an increasing number of consumer complaints, specifically regarding undelivered precious metals and unresponsive customer service. Despite multiple attempts by the BBB to contact Oxford Gold Group about these concerns, the company has not responded. The BBB now gives Oxford Gold Group an “F” rating, reflecting its failure to meet the standards required of accredited businesses. Complaints include consumers losing their retirement savings after metals were never delivered to the depository and receiving notices that the depository was no longer doing business with Oxford Gold Group. On Trustpilot, Oxford Gold Group’s rating has plummeted to 1.9 out of 5, with numerous reviews echoing the same concerns. Customers report investing their 401(k)s or other retirement funds only to find that the metals they purchased were never delivered, resulting in substantial financial losses. Given these troubling developments, Oxford Gold Group’s reputation has severely deteriorated. Potential investors should be extremely cautious and consider these issues before making any decisions regarding precious metals investments with this company. Oxford Gold Group FAQ Is Oxford Gold Group legit? While Oxford Gold Group was once considered a legitimate company, recent developments have cast serious doubt on its legitimacy. The company’s BBB accreditation was revoked due to its failure to address consumer complaints, and an increasing number of customers have reported losing their investments after precious metals were never delivered. Given these issues, Oxford Gold Group’s legitimacy is highly questionable. What happened to Oxford Gold Group? Oxford Gold Group has come under intense scrutiny after numerous complaints from consumers who allege that their orders of precious metals were never delivered to the depository. The company has also been unresponsive to inquiries from both customers and the BBB, which led to the revocation of its accreditation in June 2024. The company’s website has since been taken down, and it appears to have ceased operations. How do I know if a gold IRA or precious metals company is legit? To determine if a gold IRA or precious metals company is legit, follow these steps: Check accreditation: Ensure the company is accredited by reputable organizations like the Better Business Bureau (BBB) and look for a strong rating. Read customer reviews: Look for consistent, positive reviews across multiple platforms such as Trustpilot and the BBB. Be wary of patterns of complaints or sudden drops in ratings. Verify transparency: A legitimate company should clearly disclose fees, costs, and terms. Avoid companies that are vague about their pricing or have hidden fees. Research company history: Look into the company’s history, including any legal actions or regulatory complaints. Companies with a long history of positive customer interactions are generally more reliable. Contact the company: Reach out with specific questions about their processes, fees, and storage options. Legitimate companies should be responsive and transparent in their communications. What do I do if I have funds invested with Oxford Gold Group? If you have funds invested with Oxford Gold Group and are facing issues, here are the steps you should take: Document everything: Keep records of all communications, transactions, and any correspondence you have received from Oxford Gold Group or related depositories. Contact the depository: If your metals were supposed to be stored in a depository, contact them directly to verify whether your metals were received. File a complaint: Submit a formal complaint to the BBB and other relevant consumer protection agencies, such as the Consumer Financial Protection Bureau (CFPB). Seek legal advice: Consult with an attorney who specializes in financial fraud or investment law to explore your legal options. Monitor for updates: Stay informed about any developments regarding Oxford Gold Group, including potential class-action lawsuits or regulatory actions that could impact your situation.