Using OWNx to invest in precious metals

By   |   Verified by Andrew Boyd   |   Updated 25th June 2021

Finty Review OWNx
  • Combat inflation by investing in gold and other precious metals.
  • Benefit from dollar cost averaging by making automatic monthly investments.
  • Take optional physical delivery when you’re ready.

Successful investors like Warren Buffet recommend holding at least 5% of your net worth in precious metals as an inflationary hedge. With prices on the increase across America, is it time to diversify your holdings into assets that cannot be devalued through duplication?

Find out how the average person can diversify their investment portfolio by investing in precious metals and starting a gold IRA using the OWNx platform.

What is OWNx?

OWNx is a precious metals dealer, custodian, and trading platform specializing in gold investments. The founders realized there was a gap in the market for giving traditional, unaccredited investors the opportunity to gain exposure to gold and silver in their retirement portfolios.

With OWNx, you get access to gold and silver purchases outright, using partial payments to accumulate the precious metals in small, bite-sized chunks you can afford. When you accumulate a minimum amount, you have the option of physical delivery of the precious metal to a nominated, secure address.

OWNx operates as a custodian, with depots in Delaware and Texas. The company houses your precious metals until you accumulate enough to sustain physical delivery. They offer investors the chance to set up a self-directed gold IRA, a vehicle that, traditionally, was out of the hands of normal investors because of the significant sums of money required to open the facility. With OWNx, you get access to gold IRAs, with trading platforms designed to make the management of your portfolio easy.

Where is it available?

OWNx is currently only available to US residents. However, the company recently opened its offering to the Canadian market as well. The company allocates individual precious metals holdings in segregated storage in your name.

Your precious metal investment comes with full insurance and storage at a world-leading non-bank depository in Delaware.

Who is it designed for?

OWNx is suitable for the average American or Canadian investor looking to gain exposure to the precious metals markets. You are not required to maintain accredited investor status to take advantage of the platform.

How does it work?

OWNx is easy to understand:

  1. create an account;
  2. verify your identity through the site;
  3. start purchasing precious metals.

The company tracks your purchases, allowing you to buy fractions of gold bars held in segregated storage on your behalf in its Delaware depot facility.

OWNx also offers automated investment programs where you invest a set amount into precious metals each month. When your gold holding accumulates to the dollar amount you enter in your investment strategy, the company ships your physical gold to your nominated delivery address.

You get the option of purchasing gold without any complicated paperwork, making investment easy. If you want to open an IRA, OWNx gives you a trading platform for the self-directed management of your portfolio.

Benefits of owning physical gold

There are plenty of benefits to owning gold and accumulating it through OWNx.

  • Inflationary hedge - When inflation increases, the price of gold rises as investors swap out of depreciating paper assets into hard assets.
  • Store of value - Gold provides a safe haven during times of political and economic uncertainty.
  • Oldest form of money - The value of gold is universally recognized.
  • Diversification - Investment in precious metals aids in portfolio diversification.

Fees

OWNx charges investors a 1% fee for delivery of your precious metals or transfers between depositories. Canadian investors may incur Goods and Service Tax/Harmonized Sales Tax (GST/HST) on precious metals entering Canada which do not meet a minimum purity requirement.

How to sign up

If you want to start with OWNx, log onto the company's official website and create an account. You’ll need to upload your KYC information, including a copy of your ID or passport and a proof of address.

After approval of your account, you can set goals and accumulation targets directly on your dashboard. Input your monthly investment amount for automated purchases or set up your IRA for trading.

Pros & cons

Pros

  • Segregated, secure storage of your precious metals.
  • Set gold accumulation targets to meet your investment goals.
  • Receive physical delivery of your gold.
  • Option for self-management of your precious metals IRA.
  • Benefit from dollar price averaging by automatically investing in gold each month.
  • Paperless process for making purchases.

Cons

  • Physical delivery of gold contingent on accumulating a minimum weight.
  • Canadian investors may face tax liabilities upon delivery.

Alternatives

Glint

Glint is a fintech company offering users the chance to accumulate gold and spend it as money using a dedicated debit card attached to their gold holdings with the company. With the Glint app, users can switch between currencies in their dashboard, allowing them to spend money using gold anywhere in the world.

Vaulted

Vaulted makes it easy to invest in physical gold with real-time execution on orders at the spot price. Requires a low minimum investment and you can set up an automated investment plan to build your gold holding.

Gold ETFs

A gold ETF is a collection of gold mining companies or stocks operating in the precious metals sector. A dealer bundles these companies or assets together to give investors a chance to benefit from exposure to price action in the gold market. Since ETFs contain multiple companies or assets, they diversify your risk, de-risking your portfolio against a market shock.

Gold stocks

Gold stocks give you direct exposure to gold mining companies. Invest in a gold company to benefit from the price action of gold and market movements in the stock price.

Verdict

If your investments are heavily concentrated in stocks, OWNx is a way to diversify into precious metals and reduce your overall portfolio risk. Gold performs well as a store of value and protection during times of inflation. Segregated, secure storage at two US-based locations and the option to take physical delivery of your precious metal investment provides additional comfort to investors during times of economic certainty. Based on individual investment experience, investors can take advantage of automatic investment or opt for self-managed investment.