Disclaimer: Some or all of the companies listed here may provide us compensation. This is a part of how we maintain our free service for consumers. Compensation, along with hundreds of hours of in-depth research determines the results of our reviews.
Only Gold is one of many businesses that sell precious metals online. But how do they compare to the competition? Despite a long history, their website leaves something to be desired.
We've taken a look at what Only Gold offers and what past customers have to say about them.
Important! Before we go on with this review...
Picking the right company to invest with is a huge financial decision. We understand this and we take pride in providing accurate and reliable information. We are always continuing to research and update our recommendations!
===> Click here to see our current top 5 recommended companies
See if Only Gold made our list this year by checking our updated list of top 5 precious metals investment companies above!
Or you can get a free precious metals investment kit from our #1 recommended company right now!
About Only Gold
Only Gold has been operating out of Phoenix, Arizona since 1986, which makes them among the oldest precious metals firms in the US. Despite their name, they deal in precious metals besides gold as well, such as silver and platinum.
The company offers the basic services you'd expect from a gold dealership: buying and selling of precious metals. Unfortunately, they don't have any gold IRA services.
In addition, their website is a mess. They don't appear to have updated it in any way for mobile users, and all of the information is cluttered. It looks like a site you'd find while surfing the web in the 1990's.
If you have the patience to try to navigate the site, there is a wealth of information about the precious metals industry. But it's clear that this company does most of its business offline.
If you live in the Phoenix area, you might consider checking them out in person. But if you're looking for an online gold dealer, there are a lot of websites that are much better suited to the task.
Is Only Gold a Scam?
Only Gold has been accredited with the Better Business Bureau and maintains an A+ rating with the agency. That's enough to establish that they aren't a scam, even if it is somewhat difficult to find reliable third party reviews.
That said, they still might not be the best company to invest with. They use an outdated business model and have a borderline unusable website. In addition, they don't offer gold IRA services, so they aren't a good resource for people who want to invest their retirement money in precious metals.
Because there are so few ratings and reviews online, it's hard to get a sense for the company's customer service. There are a lot of companies that have much stronger online reviews from hundreds of satisfied customers. We recommend working with one of these instead of with a company that seems so unproven.
There are some customer reviews to look at, despite the company's overall lack of web presence.
As mentioned, the company is accredited with the BBB and maintains an A+ rating. BBB ratings are based on how the agency believes that companies deal with consumer complaints, as well as how they are managed. An A+ rating indicates that the company treats its customers well.
At the same time, they don't have any complaints or reviews filed with the BBB. Even with companies that do most of their business in person, it's common for there to be a few BBB reviews to look at, so this is odd.
There are also no discernible reviews for the site on Trustlink or Trust Pilot. The company lacks a presence with the Business Consumer Alliance, and it's very difficult to find anyone who's worked with them at all. This is especially odd since the business has been operating for decades.
It's possible that they're just behind the times. But that's a serious flaw in today's modern world. The businesses that bother becoming tech-savvy are the ones that stay afloat as more and more commerce goes online. Plenty of people use the internet to find gold dealers these days.
The few third party reviews that we have found have been generally positive. But keep in mind that since the sample size is so small, we can't get an accurate estimation of how the business runs or whether there are any potential issues.
That said, let's examine what people are saying.
Customer Reviews
Gold Dealer Reviews has five published customer reviews of the company, with an average of 4.9 out of 5 stars. That's a very good rating! It indicates that the customers have had solid experiences that they've decided are worthwhile to write about.
One customer reported in 2017 that they sold their gold and had a good experience with the company. They stated that they would use the company to sell again. Unfortunately, they didn't provide many details about the type of gold they sold, the offer they were made, or the overall selling process.
That's the most recent company review. It is a red flag that there haven't been any customer reviews in the past four years, as this indicates that the company clientele hasn't really been growing.
Many gold companies have seen enormous growth in the past few years, thanks to a combination of economic instability and growing demand for precious metals. But this company seems to have been left in the past. They might only service clients who have been working with them for decades.
A 2016 review stated that the customer had a transaction that went exactly as planned. They said that they received the order they placed in a timely manner, and they were happy enough to work with the company again. Like the previous review, this one lacks details about what exactly was purchased and what the shipping time was.
A review from 2013 states that the company works to take care of average people. Even if you don't buy items in bulk volume, they still give you good customer service. The reviewer specifically stated that the company owner Richard, his staff, and his wife are all honest and trustworthy individuals.
The reviewer stated that they always felt they received high quality service despite not being a volume buyer. In addition, they said that they were given good education and information about their purchases, so they were confident in their choices despite being "an average Joe."
That review did give 4 out of 5 stars for the shipping time, though they put 5 stars on everything else.
Another 2013 review gives the company 5 stars across the board, and the user has more information about their transaction. They said that they saw a great turnaround time. They paid with a bank wire transfer and had their order shipped two days after it cleared. The order was received in just two business days.
This customer shouted out Cathy, their representative. They also said that a complementary bit of silver was added to the order, which might be a promotion for people who reach a certain order threshold. The customer said they definitely recommend Only Gold for any precious metals purchase.
The final review is from 2012. This customer said that they received fair pricing and good service. They got their order within a week of locking in their price and sending a bank wire transfer. In addition, the company included a free silver coin with the package.
Pros & Cons Only Gold
Pros:
Cons:
Final Thoughts
Only Gold is a legitimate company that has been in the precious metals business for a long time. But their website is extremely outdated, and it's hard to find reliable customer reviews online.
Even though the reviews we have found are good, it's hard to recommend a company that's so clearly behind the times. There are many precious metals dealers that have much better designed websites and more reliable consumer feedback.
Also concerning is the fact that the most recent consumer review we've found is from 2017. That indicates that the business hasn't kept up with different online trends throughout the economic turmoil of the past few years.
Although we do think that Only Gold is a decent company, we believe that there are better companies out there to make your investment with.
Or you can get a free precious metals investment kit from our #1 recommended company right now!
Or, continue with Only Gold...