Augusta Precious Metals is one of many precious metals firms in the U.S. that specialize in gold and silver IRAs. The company is one of the more widely recognized gold dealers with celebrity endorsements and advertisements popping up all over the internet. But how does Augusta stack up against the competition?
Like every other gold dealer, Augusta claims unique expertise and commitment to client satisfaction. Is the company worth considering for your gold IRA? In this Augusta Precious Metals review, we'll look at the company's history, executive team, online ratings, customer reviews, and also look into the firm's IRA fees, and any other costs involved to open a precious metals IRA. Let's get started!
Augusta Precious Metals Background
Augusta Precious Metals was founded in 2012 by CEO Isaac Nuriani. Nuriani launched the gold firm with a mission to help American investors diversify their retirement savings into physical gold and silver. One area where this company stands out from some competitors is their commitment to education and transparency.
Devlyn Steele, the company's Director of Education leads a team dedicated solely to educating Americans about the importance of diversification in alternative assets. While most precious metals companies have educational resources found on their corporate website, Augusta puts together one-on-one conferences with individuals that request their gold IRA guides and info kits. This approach of individually educating each potential client is unique to what we see offered by some of their competition.
Joe Montana - Celebrity Endorsement
Many gold IRA dealers incorporate celebrity endorsements in their marketing efforts. Birch Gold Group has Ben Shapiro. Goldco Precious Metals has Chuck Norris on their team. Augusta Precious Metals now has NFL Hall-of-Fame quarterback Joe Montana. It is important to note however, that Joe Montana was a client of Augusta Gold before recommending the company.
Interested in protecting his own nest egg from economic uncertainty, Montana asked his team of financial experts to research gold dealers and find a company that he can trust. After performing due diligence, they recommended he work with Augusta Precious Metals.
Joe Montana requested their information kit and spoke with Devlyn Steele. He ended up buying gold and silver through the company, had a positive experience with the firm, and eventually became their spokesperson.
Online Ratings, Reviews, & Complaints
In their nine years of business, Augusta Precious Metals has built a strong reputation as a trusted gold IRA dealer. Below we've curated a list of their ratings across all of the biggest consumer protectiona nd verified client review sites.
One thing we like about the company is that Augusta readily links to the BBB, BCA, TrustLink, and Google My Business reviews directly on their website. Their youtube channel also displays endorsements and testimonials from some of their current clients.
The best way to position yourself as a leader and at the same time drum up new business is via previous client referrals and building a reputation of 5 star reviews. Positive client reviews are what we look for before recommending a gold IRA company on our site.
Products and Services
Augusta Precious Metals is primarily a gold IRA company. The meat of their business focuses on helping Americans rollover or transfer 401(k) or IRA funds into precious metals. They do however, also facilitate direct purchases with delivery to clients across all 50 states.
The company can supply clients with a range of gold and silver bullion such as:
- Gold or silver American Eagle coins
- Gold American Buffalo coins
- Gold or silver Canadian Maple Leaf coins
- Gold or silver Austrian Philharmonic coins
- Gold South African Kruggerand coins
- Silver America the Beautiful coins
- Gold & Silver bullion bars
Augusta Precious Metals does not specialize in other precious metals such as platinum and palladium, but can facilitate these investments if the client requests them.
How Does a Gold IRA Work?
When opening a gold IRA, there are typically three parties involved. If you decide to work with Augusta, your situation would look like this:
- the Gold IRA company (Augusta PM)
- the self-directed IRA custodian (Equity Trust)
- the third-party vault storage company (Delaware Depository or Brinks)
In short, most traditional IRA or 401(k) custodians cannot facilitate alternative investments like physical gold and silvers. So you can't just buy gold and have them delivered to your employer-sponsored retirement account.
This must be handled via a self-directed IRA (SDIRA).
The IRS also prohibits direct possession of IRA investments - so you need a third party gold depository or vault storage company in order to buy precious metals without triggering a taxable event...
Augusta Precious Metals has established relationships with Equity Trust and Brinks or the Delaware Depository for storage. While they can work with the custodian and vault company of your choice, the dealer works with these two companies every day, making the whole process streamlined and simple.
Gold IRA Fees
Many of the top gold IRA companies work with Equity Trust. I believe this is because of their low annual fees.
Equity Trust's fees include:
- Account set-up fee: $50 (this is a one-time fee)
- Annual maintenance fee: $80
The Delaware Depository is also a popular vault storage company that many gold IRA dealers work with. The storage company offers both commingled and segregated vault storage, and they offer a wide range of location options with facilities across the United States.
Segregated vault storage will cost more than commingled storage. Ultimately, it's your decision which of the two options you prefer.
The Delaware Depository's annual fees:
- Commingled storage: $100 (or)
- Segregated vault storage: $150
Note: Whether you contact Augusta or one of their competitors, consult with your gold account executive to discuss which storage option makes the most sense for your situation. You may find that it's worth the additional $50 for segregated storage.
Between Brinks and the Delaware Depository, Augusta offers clients IRA storage solutions in the following cities:
Augusta Review: Pros and Cons
No gold company is perfect - and an Augusta Precious Metals review would not be balanced if we didn't discuss the good with the bad...
What I Like About Augusta Precious Metals?
Their one-on-one approach is unique. If you're serious about investing in gold, they even put together a personally tailored presentation and educational webinar that's just for your. This is not a replay of a pre-recorded presentation! You're treated exactly the same way they treated Joe Montana.
We also found overwhelming positive reviews for the company online. With the volume of business they do, it's expected to find anecdotal situations where there are unhappy clients. The internet is your friend and with sites like the BBB, Trustlink, and google, it's quick to see when a company is not performing at their best.
Even if it's one out of ten thousand clients, that ONE negative review ends up all over all of the verified client review sites!
This company's client feedback is excellent and the company even links directly to third party review pages directly from their site.
Augusta Precious Metals review - insider look at the #GoldIRA company's complaints, ratings, reviews, fees, and more...
What I Don't Like About Augusta PM
The minimum purchase with Augusta Precious Metals is $50,000. This is for both, gold IRA and direct delivery purchases. The company will not work with a client hoping to invest under this dollar amount.
This $50,000 minimum is especially high for anyone buying metals for home delivery. So many other reputable firms can better assist customers in a direct delivery purchase under $50k.
This is an issue for IRAs because some of Augusta's competitors will open a gold IRA rollover for as low as $10,000. If you're looking to invest $50,000 or more in precious metals, this won't pose a problem, but many Americans haven't saved enough in retirement and are priced out of working with Augusta PM.
Also, the company doesn't specialize in platinum and palladium products. While the majority of investors are interested in gold and silver, I believe a gold IRA company should specialize in all precious metals and have as wide a selection of IRA-accepted precious metals displayed on their website.
Augusta Precious Metals Review
Gold IRA dealers are a dime a dozen, so how do you sort out the good from the bad? Researching Augusta Precious Metals reviews, we believe the dealer to be one of the better gold IRA specialists.
Their previous clients rate them well, they're established leaders in the gold IRA industry, and they've been around almost a decade. If you're looking at investing at least $50,000 in precious metals, they're worth contacting for more information.
Regardless of who you end up working with, always request information kits from at least two or three gold companies, get on the phone with a few of the higher rated firms, and get all fees and expenses in writing.
Opening a gold IRA can be a smart move. Take the time now to research your options and separate the winners from the losers. You'll be glad you did.
Request your Gold IRA Guide
Free Investor Guide From Augusta PM Reveals Strategies to Diversify Your Retirement with Physical Gold and Silver...