OWNx Reviews 110

I have been working with these guys for over 10 years.... never a problem! Keep up the good work!

I have been using OWNx for more than 10 years. I've purchased silver, gold, platinum with OWNx. Usually, when I hit the 1 oz mark in gold or platinum, or when I hit 20oz in silver, I redeem. It's delivered fast and secure. I don't even worry about it. Another time, I used OwnX as a bank account. I just left my deposit (in metal) for years. When I needed the dollars, I redeemed. The deposit was made 1-2 days later. Yes, I definitely recommend them.

Solid company. Used for many years. No issues.

I have been a customer for over 6 years and have take delivery many times. I have also sold and deposited the cash into my bank account (to be sure I can) and they have always come through for me. Quick delivery and as promised. I also understand why they cannot carry small denominations because they charge silver spot plus a small mark up. If you want them to store the exact coin they need to anticipate what people would like to store and pay the small bar premium. Most physical investors want to store maximum gold and silver without the premiums.

I was a long time, small-time buyer and the company from my experience has been what they claim. I took delivery 2 or 3 times for small amounts, with no issues. I did feel that the premiums were on the high side but I didn't actually do the calculations.
About a year ago I made a sizeable move and bought into a pretty large position.
Now they claim volatility and will only deliver in 1000 oz bars.
Which I do not want.
And how do it get it?
Pretty sure it can't be delivered to my house?
Maybe it can....

Ownx FAQ section answers the question about the minimum amount they will ship. No it is not small amounts. You do have lots of options however, see their web page. I have not taken delivery (porch thieves) but stored small purchases in one of their vaults. So far they have been efficient and reliable; being new to this company time will tell.

I signed up, transferred money to, and purchased a kilo gold bar from OWNx without any hiccups right after the market crash in March 2020. I did see the disclaimers about short supply for smaller amounts of gold and the delivery order being a “delivery request” so I just asked them what they had ready for delivery and that was kilo minted bars, shipped free, but with a 3% sales premium. I got what I paid for. One caveat, they apparently do not have a standard quality control program or procedure. It seems this is not uncommon, but in my opinion every gold retailer ought to at least spot check throughly various bars and coins. There was a fraud with tungsten filled minted bars including kilos in 2012.

OWNx advertises that you can take delivery of your physical silver and gold immediately, on demand, any time, even in small denominations... advertising on their site as if they are storing it up for you in the quantities you want/need to take delivery of, but when requested, "due to extreme increased order volumes," you can only take delivery of 1,000 ounces of silver minimum or a 1kg gold bar (see below), which few customers will even have in their account.

To me, this is a scam. Steer clear! If there is a crisis (like there is now), unless you have a minimum of 1,000 troy ounces of silver on account with them, which would currently cost around $18,700 at their prices, then you likely won't be able to get your silver! Sorry Charlie! Out of luck! Better luck next time there's a silver shortage!

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From OWNx.com site:

Delivery Delays
NOTE: Due to extreme increased order volumes, please expect shipping delays. You will receive tracking information from the carrier (typically FedEx) once the shipment is in their systems and able to be tracked.

Please Read the Following Before Taking Delivery
Due to supply bottlenecks, delivery lead-times are uncertain. As a result, delivery orders are to be considered ***Delivery Requests.*** (emphasis mine)

If we are unable to fulfill your request for the specific items you requested you will receive a refund of the metal back to your account, as well as a notification email.

The following items ALWAYS have immediate availability:
1000 tr. oz. silver bars
1 kilo gold bars

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Listen, if you don't have METALS IN HAND, then you don't OWN THEM! You have someone "saying" you own them.

In this case, I think they should change their name from OWNx to OWNz... aka OWNzero.

Sometimes you may be able to take delivery of metals in smaller amounts... and, under favorable circumstances, you may also be able to sell your silver and, thus, be able to withdraw cash... and yet you can't take small delivery amounts now "due to shortages." And, maybe, someday, due to banking system issues or failures (i.e. collapse, insurrection, martial law, etc), you won't be able to withdraw cash either potentially, because of a forced Federal "bank holiday," etc.

Trust is severely damaged with OWNx. Their delivery is based SOLELY on market supply of physical silver and gold. They do not keep smaller denominations on hand apparently, such as 1 ounce coins, 10 ounce bars, etc, only large bars, and so if you need to actually take delivery of yours, GOOD LUCK!!!!

Understand what you're getting into here before you purchase precious metals through them! Better yet, buy the actual physical metals and take IMMEDIATE delivery from whoever you buy from!

From the advertising on the OWNx.com site:

"You keep an eye on gold and silver prices…

Maybe you have developed a feel for the market’s ebb and flow. It could be that you’ve been trading paper proxies like ETFs, but you realize in today’s world it’s better to own the real thing. How can you have 24X7 access to buy physical metals and also have instant liquidity?

The answer is now.

You decide when the time is right to buy or sell.
Click.

Done. You are in control."

Nope! I'm apparently not in control, because I cannot take instant delivery as you falsely advertised!

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The above taken from the ownx.com / buy-gold-silver-now/ web page (take out spaces around / and paste into browser)

"6 Clicks. 30 Seconds (or less).
You own physical gold or silver.
We weren’t kidding. It’s that easy."

Bullsh*t! I don't OWN anything if possession is 9/10ths the law and I can't take possession of it unless I have at least $18,000+ in silver being stored by them. I can only sell it and take a USD$ digital currency transfer versus receiving actual metals in small quantities into my physical possession, as I was falsely led to believe by their advertising.

Also from their site:

"Cash or Delivery
Sell your gold and silver for cash or have bars or coins delivered to your front door."
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As you can see this is a red hot mess for those looking to take physical possession of their precious metals at a time when they want or need it the most. Their advertising is fraudulent in my opinion, and I will likely be contacting my state Dept. of Banking and Insurance and the DOJ to investigate their practices.

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Disclaimer: The statements above are my own personal opinions based upon information and belief. All statements made are 100% protected by the 1st Amendment.