Only Gold Review (Scam or Legit?) (Updated November 2022)

November 21, 2022

Only Gold Review

Hello and welcome to this 'Only Gold Review'! (Updated Nov 2022)

Have you been researching Only Gold and wondering if they're trustworthy? Well, this review might give you a hand in determining whether or not they are legit. Or a scam...

Without further ado, let's start this 'Only Gold Review'.

Only Gold Review Quick Summary

Name: Gnly Gold

Website: https://onlygold.com/

CEO: Richard Smith

Prices: Varies

Precious Metals IRA: Does not offer

Rating: 3/5

only gold logo

What is Only Gold?

only gold website

This Phoenix, Arizona-based precious metals organization started during the year 1981. With that, they carry a reputation amongst many bullion dealers in the precious metals industry.

As part of the CMI Group, they became part of the leading metals dealers in the United States. Additionally, their employees and experts are well-versed in all the dwellings involved in this business.

Due to them being a specialist in precious metals, they have been a force when it comes to selling and buying them. Moreover, they have claims of having the lowest prices possible for these metals.

Admirably, Only Gold trades solely on Certified Coin Exchange. In this manner, it has tangible support from reputable organizations such as Professional Grading Service and Numismatic Guaranty Group.

Available Products

Surprisingly, Only Gold does not only offer gold. Their inventory consists of products including silver, platinum, and palladium.

In addition, a certain section entitled 'Specials' houses discounts on some of these precious metals. However, these discounts rarely come and the stock of these product easily goes to zero.

To enumerate, the list of their products are as follows:

GOLD

  • American Eagle
  • American Buffalo
  • Double Eagles
  • Austrian Gold Philharmonics
  • Canadian Maple Leafs
  • Chinese Panda
  • Among others

SILVER

  • American Eagle
  • Australian Kangaroos
  • Canadian Maple Leafs
  • Austrian Philharmonics
  • Among others

PLATINUM

  • American Eagle
  • American Platypus
  • Canadian Maple Leaf

PALLADIUM

  • Canadian Maple Leaf

Product Types and Prices

As mentioned above, Only Gold offers several choices for coin items. But, it must be said that the prices of these items change because of spot prices and regularity of purchases.

Furthermore, you will be presented with different characteristics to further narrow down your list of purchase. To illustrate, you can filter by face value, weight, purity, physical properties, etc.

On the hand, bullions on their inventory only has four sizes, from 28.3 grams (1 oz.) to 1 kilogram. To add, the type of bars you will find in their online platform are as follows:

  • PAMP Suisse Fortuna Bar
  • Royal Canadian Mint Bar
  • PAMP Suisse Dragon Bar

However, the availability of these bullions differ on several cases. For example, a certain type will not be available for a certain weight class.

As for their prices, I have no idea how much their items are since there are no relevant information available. Instead, you need to call one of their representatives to inquire about their prices.

Regrettably, ordering also needs to be done by contacting them since they do not allow online purchases. Moreover, spot prices on their website can only help you so much. Regardless, they need to work on their degree of transparency.

In comparison, my top recommended precious metals dealer, Augusta Precious Metals, operates differently. True, they still do not offer platinum and palladium, but it beats them in competitive pricing and degree of transparency.

Customer Ratings and Reviews (Updated November 2022)

As for their customer ratings and reviews, it would appear that only Better Business Bureau gave them an "A+" rating. Although accredited, the lack of reviews from other websites and organizations might dissuade you.

Unfortunately, there are no reviews, ratings, and reports available from other companies such as Business Consumer Alliance, Trustpilot, and Yelp. In a sense, this gives you an idea on where they stand in terms of web presence.

To compare, other bullion dealers such as Goldco, have loads of impeccable reviews.

Pros and Cons

Pros

  • Availability of platinum and palladium
  • Selling to them is possible

Cons

  • No precious metals IRA 
  • No relevant information regarding prices and fees
  • Confusing name
  • Minimum purchase is quite high
  • Outdated online platform
  • Few reviews and ratings available

Conclusion

As a summary, this 'Only Gold Review', let me start by saying that it is not a scam. It is a legitimate company that has tantalizing products and is accredited by Better Business Bureau since 1999.

However, it needs major reconstruction and change. To start, the lack or IRA services will usually discourage buyers and sellers alike. For a company that started in 1981, the availability of such service is imperative.

Second, prices and fees are not present on their website. Spot prices are not enough to educate their buyers. What's more, their minimum purchase is quite high.

Lastly, they need to work on their online presence. As a bullion dealer, having little to no reviews at all is a red flag. Clients are more inclined conducting business with a firm that has reviews to back their claims.

To conclude, even though Only Gold seems legit, there seem to be other gold dealers who have a larger amount of positive customer reviews (such as Goldco).

As usual, thank you for reading this Only Gold Review. Feel free to toss your comments or suggestions in the comment section below.

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 Questions? Call 855-444-7022


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