Only Gold Review

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One of the oldest gold dealers in the U.S.A., OnlyGold, is an undiscovered gem in the precious metals industry.

Their clients hail them for their affordable prices and fast delivery times.

However, before you try them out, here's what you should know about them.

Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?

That is why we have researched every company in the industry and selected the very few with the highest customer service standards.

This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.

Read the list to see if Only Gold Review passed our strict customer service standards to become one of our top recommendations.


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What is OnlyGold?

OnlyGold is a precious metals dealer in Phoenix, Arizona, mainly involved in bullion coins and bar trading. It was founded in 1981 by Richard Smith and his wife.

Back when the internet was still in its infancy, Richard had the vision to develop a website that provided investors with an easy and convenient way to determine the prices of gold coins and bars, buy them, and have them delivered to their doorstep.

Before that, Richard had been buying and selling gold, silver, and numismatic coins full-time. He traded his own account in the retail and wholesale coins and bullion field since 1978 at auctions, convections, and bourse floors.

Eight years later, he became the manager of The Coin and Stamp Gallery (CSG), which at that time was the largest gold and silver coin trading house.

He quickly learned through the tremendous growth of CSG that the need for straightforward information about gold ownership and pricing was critical for the success of his business. Thus, when he created OnlyGold, his main focus was to provide easy access to the most up-to-date pricing information and market trends.

In February 2014, OnlyGold merged its operations with CMI Gold and Silver Inc., also located in Arizona. CMI Gold and Silver Inc. is one of America's largest gold and silver bullion retail companies. The president and owner, Mr. Bill Haynes, has been in the precious metals business for more than 45 years and also holds a Bachelor's degree in Finance from the University of Colorado.

The merger came about when Richard Smith and his wife decided that after 26 consecutive years of working six days a week, they needed a break. Bill Haynes saw this as a great opportunity, so he partnered with the Smiths to expand both companies and increase their reach.

The merger was highly successful. It allowed them to combine resources and better serve their customers while creating a strong corporate identity for the future.

Services Offered by OnlyGold

 OnlyGold offers a variety of gold and silver products to its customers, including bullion coins, rounds, bars, and jewelry manufactured from the finest materials. They stock an extensive range of precious metal products in various sizes and shapes that are sourced directly from trusted mints all over the world.

They also sell platinum and palladium coins and bars, as well as rare coins. In addition, they offer educational resources such as blogs and financial advice related to gold and silver investments.

Their main products include:

  • American Eagles (all precious metals)
  • Canadian Maple Leafs (all precious metals)
  • Gold and silver Austrian Philharmonics
  • Gold numismatics
  • Platinum Australian Platypus
  • Bars of different sizes
Only Gold Review - Services Offered by OnlyGold

What Makes OnlyGold Different?

 One of the things that makes OnlyGold stand out from the rest is its dedication to customer service. They go above and beyond in providing accurate prices, timely delivery, and a secure shopping experience.

They have a knowledgeable staff that can answer any questions or concerns their customers may have about gold ownership. And their website also provides an extensive range of resources on topics such as coin collecting, investment strategies, and laws so that their clients can make informed decisions before buying gold bars or coins from them.

Moreover, their website has a "Specials" page that provides very good deals on some gold coins and bars. Clients can find a 1 oz Canadian Gold Maple Leaf at just 2% over the spot, including delivery.

On the downside, though, the company's website is very old. There have been a lot of complaints about poor navigation, slow-loading sites, and outdated pieces of information. They also operate from a brick-and-mortar shop in Phoenix only on business days. This means they don't have 24/7 customer service like their competitors.

Their name is also confusing for some people. An investor might think they only sell gold coins and bars when they actually sell all the other types of precious metals. Further, when doing a quick search about the company on the internet, other companies with the same name often appear in the search results.

Buying Precious Metals From OnlyGold

Even though they have a relatively good website, clients interested in purchasing precious metals cannot do so online. Instead, they'll have to get their phone number and call them directly during regular business hours to make an order.

A dedicated customer service representative will answer the call and explain how the process works. They will ask for basic information such as full name, address, phone number, and payment details. Once that is done, they will confirm the order and take payment through a wire transfer, check, or bank card.

OnlyGold has a minimum purchase order for gold, which is 10 ounces. They haven't mentioned anything about silver, palladium, or platinum, but an interested client should be prepared to make a large purchase order. 

In terms of delivery, they offer free and fast shipping for all orders. A tracking number is provided once the order has been shipped, so customers can keep an eye on their purchase until it arrives at their doorstep.

Why Gold?

Gold Is Rare

The average concentration of gold in the Earth's crust is very low; in fact, even rarer than diamonds. They were formed from neutron stars during the formation of the Earth, and there is no more gold being produced within the solar system. This rarity gives it an intrinsic value that is much higher than most other metals and makes it a great investment for those looking to diversify their portfolio.

Gold Is Versatile

Gold can be used in many different ways, from jewelry to electronics and even medical treatments. It is malleability and conductive properties make it an ideal material for many industries, which is why it is often referred to as a "universal commodity."

Gold Is Durable

Unlike many other metals, gold does not corrode or rust. It can last almost indefinitely with minimal care and maintenance, making it the perfect choice for those looking to protect their assets long-term.

World Economics Doesn't Affect It

Over recent years, inflation has been soaring all over the world. In fact, some countries are experiencing a recession at the moment. Gold, however, is unaffected by these fluctuations because it is not tied to any one government or currency. So, no matter what the current economic climate is, it will always have its intrinsic value.

It Can Be Used In Any Region

Lastly, gold is widely accepted in all countries and regions around the world. This means that you can easily convert it to cash wherever you go without worrying about exchange rates or currency fluctuations.

Other Precious Metals

 Silver, palladium, and platinum are other precious metals that offer similar benefits to gold. They have a wide range of uses, from electronics and medical treatments to jewelry and coins. Silver is the most abundant metal after iron, while palladium and platinum are rarer than gold but still widely accepted around the world.

Gold IRA

The Taxpayer Relief Act of 1997 broadened the permissibility of Individual Retirement Accounts to include certain types of precious metals (including gold, silver, palladium, and platinum) as allowable investments. Essentially, these precious metals back up your account, just as other people do with money, stocks, and bonds.

The Benefits of Investing in a Gold-Related IRA

Gold IRAs still enjoy the same tax benefits as traditional accounts, but the advantage of gold is that it will never lose its value. Even better, as the prices of precious metals rise, your account will accrue more value and give you greater returns when cashed in.

Unfortunately, OnlyGold doesn't offer gold IRAs yet. But if you're interested in setting up a gold IRA, they can definitely refer you to a reliable dealer or help you find the best options for your situation. It's even possible to use them as your dealer (since they sell at comparatively lower prices) for your account.

Things to Keep in Mind When Creating a Gold IRA

1) The Custodian

When creating a gold IRA account, you will need an entity or perhaps an individual that will act as your custodian. This person or entity will hold and protect your assets, make sure that all the IRS rules and regulations are followed, and keep track of the investments.

2) The Depository

You also need to find a depository to store your assets in. This can be an independent party or the custodian. The depository needs to meet IRS requirements, be fully insured, and offer security that is up to date with modern technology.

3) The Gold Dealer

When creating a gold IRA account, you can't just buy your precious metals from any dealer offering them. The gold dealer must meet the IRS requirements outlined in Internal Revenue Code 408 for IRA accounts.

For instance, the dealer must sell very pure precious metals. For gold, the purity levels must be at least 99.5%; silver must be at least 99.99%; palladium must be at least 99.95%; and platinum must be at least 99.95%. Additionally, the dealer must also be approved by the IRS and have a good reputation in the industry.

4) Costs and Fees

The costs and fees associated with setting up a gold IRA include setup fees, custodian fees, storage fees, and taxes. Most of these fees will need to be paid upfront before the account is opened.

Also, some dealers, like OnlyGold, have a minimum amount of gold or silver that must be purchased at a time. This minimum amount will vary depending on the dealer, so it's important to do research and find one that offers the best combination of cost, fees, and services.

Types of Precious Metals IRA You Can Create

1) Traditional Gold IRA

A traditional gold IRA is one that you contribute with pre-tax money. In other words, your income before filing for taxes. As such, they are tax-deferred, meaning you don't have to pay taxes on the account until it's cashed in.

Traditional gold IRAs are ideal for individuals that believe that they may be in a lower tax bracket during retirement. This is because the amount of tax owed on cashing out the IRA will be lower than if it was taken out before taxes were applied.

2) Roth Gold IRA

A Roth gold IRA allows you to contribute with post-tax money, or income after filing for taxes. Therefore, there are no taxes due when cashing out the account in retirement. Additionally, a Roth gold IRA doesn't have withdrawal restrictions like a traditional IRA, allowing you to access your money at any time.

A Roth gold IRA is suitable for individuals who believe that they will be in the same or higher tax bracket during retirement. Also, people that are planning to use it as an inheritance option should consider this account because of the no-tax benefits.

3) SEP Gold IRA

A SEP (Simplified Employee Pension Plan) gold IRA is ideal for small business owners and self-employed individuals who want to invest more into their retirement plan than what would be allowed with a traditional or Roth gold IRA.

With a SEP gold IRA, you can contribute up to 25% of your income each year or $66,000 (whichever's lesser) with pre-tax money, which could potentially result in huge tax savings when filing for taxes.


It's hard to go wrong with a precious metal investment, but it's important to do your research and weigh all of the options before making a final decision. OnlyGold is an choice for those interested in investing in gold, silver, palladium, or platinum.

With a wide range of precious metals available at competitive prices, expert customer service, and secure storage facilities, you can trust them with your investment needs. Still, there are other gold dealers out there, so be sure to compare prices and features before committing to anyone. Doing this will help you make an informed decision about your investment options and achieve the best possible results.

Remember to read out list of the Top Gold Companies to see if Only Gold made the cut.

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