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OnlyGold.com Review9 min read

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OnlyGold.com, despite its name, provides more than simply gold. This company also allows you to invest in platinum, silver, and palladium. Including these precious metals in your investment portfolio, whether via a personal investment or an IRA, can help you plan for the future, even if it’s…only gold!

Continue reading to find out more about Only Gold and decide if they’re the appropriate company for you. This guide will review the numerous bars and coins it offers, from gold and silver bullion to bullion coins. Plus, we will look at the kind of support and service you can expect if you engage with this company.

About Only Gold (Company Review)

onlygold company

In 2014, Only Gold merged with CMI Gold and Silver Inc. The CMI company has worked in the precious metals industry since the early 1970s, with over four decades of experience. Only gold is now the face of CMI’s online bullion coin trading operations.

Only Gold was formed by Richard Smith, a man with over 25 years of industry expertise. He wanted to unite his organization with CMI since he could not take time off or care for himself due to high managerial demand.

Richard’s goal was to establish a website to let individuals rapidly examine the daily pricing of various coins and bars. He formerly operated in the precious metals industry, purchasing and selling gold and silver.

When Only Gold amalgamated with CMI inc., the two firms united and had over six decades of experience. Only Gold is family-owned and employs non-commissioned salespeople, ensuring you receive the best service possible without feeling pressured.

Only Gold is the only metal member of the Numismatic Guaranty Corporation and the Professional Grading Service. It also works with the Certified Coin Exchange and assists the Sector Council for Real Assets. These credentials indicate that Only Gold is a legitimate and respected vendor.

Do They Offer Gold IRAs?

Only Gold does not provide precious metals IRA options. It’s solely a precious metals dealer. The primary use of Only Gold is for coin trading operations. Thus, if you want to transfer your current IRA or 401k to gold for diversification and safety, you should consider Goldco Direct, a top-rated Gold IRA provider.

Pricing Policies

The beauty of this company is that it provides precious metals at reasonable pricing. Instead of using commission-based salespeople, all prices are obtained from information found on the internet. You have instant access to data about the worldwide price of gold as well as the prices of many individual goods.

Only Gold allows you will speak with a company representative to place your order rather than completing an online shopping basket. This individual will handle your order and address any concerns you have about the items or the transaction.

By working with the Certified Coin Exchange, the company’s website employs an algorithm to alter its cost daily according to the fluctuating world gold price. Its program also takes into account the company’s discounts. There are no large markups on gold because it is not sold on commission. Furthermore, the organization has strong partnerships with a large number of wholesalers.

Online Resources

The company’s goal is to provide a wide range of resources related to the precious metals business.; for example, you can examine graphs showing gold’s value over time and the current market price of precious metals, including spot prices for various precious metals.

Furthermore, the website has a FAQ page that answers numerous investment-related questions. They discuss solid varieties of gold bullion for investing, selecting the appropriate bullion coins, and evaluating the global market.

This information adds to the company’s credibility. However, it is vital to know that they are just some precious metals merchants who offer education. Many other precious metals dealers have more important instructional tools, such as free videos, blogs, and eBooks.

The web resources might be beneficial if you start with precious metals investments. However, with a more user-friendly website, you can obtain the same learning material from other websites.

OnlyGold.com Products (Gold and Silver Bullion)

While many web precious metals investment organizations only sell silver and gold bars and bullion coins, the beauty of Only Gold is that it also sells palladium and platinum pieces. Some of the other coins and bars accessible to investors are listed below:

Gold Coins

  • American Buffalo Gold Coins
  • American Eagle Gold Coins
  • British Horse Gold Coins
  • Austrian Philharmonic Gold Coins
  • South African Krugerrand Gold Coins
  • Chinese Panda Gold Coins
  • Various Gold Bars
  • Canadian Maple Leafs Gold Coins

Silver Coins

  • Canadian Maple Leaf Silver Coins
  • American Eagle Silver Coins
  • Austrian Philharmonic Silver Coins
  • Various Silver Bars and Rounds
  • Australian Kangaroo Silver Coins

Only Gold Products (Platinum and Palladium Bullion)

Platinum Coins

  • Australian Platypus
  • American Eagle Platinum Coins
  • 1 oz Platinum Bars
  • Canadian Maple Leaf Platinum Coins
  • 10 oz Platinum Bars

Palladium Coins

  • PAMP Suisse Palladium Bars
  • Canadian Maple Leaf Palladium Coins

Purchasing from Only Gold

Buying From OnlyGold

Only Gold works from Monday to Thursday, from 7 a.m. until 5 p.m. Eastern Standard Time, whereas on Friday, the working hours somewhat decrease from 7 a.m. to 3 p.m. There is no requirement to open an account or engage with an aggressive salesperson.

There is a 10-ounce minimum order requirement with this silver specialist. You must contact Only Gold during business hours if you wish to invest. Because gold prices fluctuate so much, you’ll have to lock in your pricing throughout the phone call.

On the same day you complete the transaction, you must send a wire transfer transaction or a personal check to the company. It will not process debit or credit cards since the payment must be linked to a financial institution in the United States.

Remember that if you make an initial order for more than $100,000 in a product, you must send a wire transfer transaction instead of a check on that day. You must submit your purchase before the bank closes, as you will not be able to transmit the payment the next day—Only Gold sends your items within three business days of receiving your payment.

Sell To Only Gold

Only Gold buys precious metals that match specified minimal specifications. The minimum criterion for platinum, palladium, and gold is only five ounces. You’ll need to sell a minimum of 300 ounces of silver. You can acquire a price quote by calling the customer care number.

Remember to confirm the transaction on the exact day the items are shipped. To cover the expense of your products, you need to use the USPS Registered Insured Mail.

You’ll discuss the amount of metal you’ll sell with a customer care representative, where you can negotiate on a fixed price. The spot market price determines the buying price, which fluctuates minute-by-minutely.

After this process, you will receive an email listing the purchase cost and the products sent. You are guaranteed the quoted price, but you must ensure that the order ships that day. If you complete your order on Friday, the product can be available for shipping on Saturday.

When trying to sell items to Only Gold, it will only provide payment within 24 hours of receiving the package. Most people accept their payments on the same day they are received.

Is OnlyGold.com a Scam?

scam

Only Fold isn’t a rip-off. Its parent company was founded in 1973, making it one of the country’s oldest precious metals businesses.

Furthermore, Only Gold and its parent company are both Better Business Bureau accredited and 100% complaint-free. Its primary problem is that the firm’s internet presence needs to be improved. Though they have a website, it appears to be updated infrequently, and the structure is challenging to browse. Furthermore, there are few customer gold reviews to wade through.

It is easier to judge a company’s operations by hearing about client experiences. This is where you determine the overall rating of the company statements that match its actual management.

Pros and Cons

Pros

  • The BBB gave the company a high overall rating and received no complaints.
  • A wide selection of precious metals and collectible coins are available with this company.
  • One of the industry’s oldest precious metals traders.

Cons

  • Its website is not adequately designed.
  • There are very few internet customer reviews to help you see other people’s experiences and the company’s overall rating.

Only Gold Features in the Precious Metals Industry

  • Richard Smith founded Only Gold.
  • Only Gold partnered with CMI Gold and Silver Inc. in 2014.
  • The Only Gold website continues to be a place where people may buy precious metals.
  • They have an excellent assortment of coins and bars in gold, platinum, silver, and palladium.
  • Only Gold will buy precious metals from individuals willing to sell their holdings.
  • You can register with the company to receive email updates with present gold and silver spot prices to assist you in determining whether to sell or buy your investments.
  • Only Gold has an A+ overall rating from the Better Business Bureau.

FAQ

  1. How Much Is a Bar of Gold worth in 2022?

As of the published date, a 1-ounce gold bar is valued at more than $1,721. Remember that gold prices often vary daily, even though the average price has been rising for decades. In 2020 and 2022, the cost of one-ounce gold bars topped $2,000 per ounce. This is based on Goldcore.com valuations.

  1. How Much Is a Gold Krugerrand Worth?

Any unmutilated or otherwise disfigured Krugerrand will always be valued more than its bullion price. The most recent Monex Gold Krugerrand sell price is $1691.6.

  1. Is Buying Gold a Good Investment?

Although gold’s price can be unpredictable in the near run, it has always held its worth in the long run. It has functioned as a buffer against inflation and the depreciation of major currencies over the years, making it an asset worth considering.

Conclusion

Only Gold has almost 40 years of experience in the precious metals market, making it one of the longest enterprises with an A+ overall rating in the U. S. They are genuinely founded and have high BBB ratings.

Their website could be better designed and can be tough to use. However, it appears that they need to catch up with the times. It isn’t easy to find relevant information from all of the overloaded pages.

Similarly, finding business consumer alliance reviews online doesn’t take a lot of work. It’s likely that the company does the majority of its operations in person and depends on word-of-mouth referrals.

Most Trustworthy Gold Companies Today

Here is a list of the most well-known and highly trusted gold companies today. If it’s listed below, it’s worth checking out.

About 

Edwin Cannon has spent his entire career in the financial industry and specializes in alternative investments and surviving marketing turbulence. He started My Retirement Paycheck to help educate consumers about retirement investment options that aren't typically introduced by advisors.