Scott R. Hillford
Author & Founder Gold Is Money 2
Disclaimer: Some or all of the companies reported here may provide compensation to us, at no cost to our readers. This is how we keep our reporting free for readers. Compensation and detailed analysis are what determines how companies appear on this website.
The Taxpayer Relief Act of 1997 significantly expanded the scope of IRA-eligible investments to include precious metals. Following the Global Financial Crisis of 2007 to 2010, the appeal of investing in precious metals within an IRA grew substantially.
Today, while precious metals IRAs have gained popularity, they remain complex and often misunderstood. What regulations and details should investors be aware of?
Various companies cater to this market in different ways. Some simply assist with paperwork and the purchase of precious metals, while others offer comprehensive services including market news, educational resources, informative conferences, price charts, and more.
Augusta Precious Metals stands out as a full-service precious metals IRA company.
But is Augusta Precious Metals the right choice for you? What do their current customers say? How does the company compare to its competitors? Are they trustworthy?
In this article, we delve into all the essential information you need to make an informed decision about working with Augusta Precious Metals.
Prior reading further, it is important to acknowledge that investing your savings is a not easy. When it comes to incorporating precious metals into your investment portfolio, how can you tell which companies are reliable?
After devoting extensive time and effort, we have conducted thorough research within the precious metals industry and compiled a selection of the most trustworthy companies.
Take a moment to read our list and determine if Augusta Precious Metals has what it takes to make the list this year!
This lets you to quickly compare the leading companies in this field and select the one that aligns with your specific requirements and investment objectives.
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About Augusta Precious Metals
Founded in 2012 in Beverly Hills, Augusta Precious Metals is one of the gold IRA industry’s leading providers. Isaac Nuriani, the founder and CEO, descends from a family with more than 40+ years of experience in collectible coins and bulk precious metals.
Notable corporate associations include a partnership with Hall of Fame quarterback, Joe Montana, who serves as the company’s Augusta Gold IRA Ambassador.
Augusta Precious Metals also enjoys hundreds of five-star ratings on TrustLink, Google My Business, Facebook, and Consumer Affairs. They are BBB-accredited, boasting a BBB rating of A+. They also have many awards for customer service, are a Most Trusted Gold IRA company by IRA Gold Advisor, and are members of Ethics.net.
Augusta Precious Metals doesn’t just sell you a ton of IRA-eligible gold and silver and then leave you to your own devices. They strive to be your dedicated advisor and precious metals IRA dealer for life. They even help you when it’s time to take distributions, offering several ways for you to liquidate your precious metal assets.
Family-owned and operated, Augusta Precious Metals combines customized, boutique-style gold IRA advising and large-scale customer service. Their online chat service operates 24/7. Their seasoned staff includes experienced account representatives and departmental experts.
Their website and company culture emphasizes education. On top of department experts, knowledgeable account reps, and the 24/7 online chat, they host an extensive section of resources and tools:
Each new account and account holder receives their very own dedicated account specialist. The specialist assists you one-on-one, ensuring you complete and file all the necessary forms. Augusta Precious Metals has the process so streamlined, setting up an account only takes mere minutes.
The Compliance Team
An in-house group consisting of experienced precious metals professionals and outside counsel comprises Augusta Precious Metals’ compliance team. The team makes certain that Augusta Precious Metals and its clients adhere to rules, regulations, and laws intended to protect consumers when making large purchases for precious metals portfolios.
Services Offered
SDIRA Setup, Paperwork, and Initial Purchases
What services does Augusta Precious Metals offer clients?
Their primary focus entails the sale of IRA-eligible gold and silver. They provide gold and silver coins and bars that have IRS approval for inclusion in your IRA. A precious metals IRA is essentially a self-directed IRA (SDIRA), so Augusta Precious Metals also helps you set up your SDIRA when you open an account with them.
Precious metals remain a desirable hedge against some degree of market volatility. Gold prices, especially, consistently go up when the dollar’s purchase power gets weaker at times of inflation. Owing to increasing economic instability and rumors of another major market downturn, precious metals IRAs and more diverse portfolios containing precious metals are more popular and lucrative than ever.
After setting up your precious metals SDIRA, Augusta Precious Metals assists you with making the optimal selection of precious metals according to your interest, risk tolerance, and available funds. You must fund your account with at least $50,000 to make purchases of IRA-eligible gold and silver through Augusta Precious Metals.
Transfer of your IRA-eligible gold and silver purchases to an approved storage facility is free. An IRS-approved custodian shoulders the responsibility of physically placing your precious metals in a vault at an approved depository. Your custodian communicates with your Augusta Precious Metals rep, so you only have to deal with one person.
Cash Purchases
If you prefer to purchase precious metals with cash, Augusta Precious Metals can help you. Their inventory features precious metals of investment grade, purchasable with cash. Precious metals purchased and held privately don’t have to be IRS-eligible for inclusion in an IRA. You can have these purchases shipped directly to your home.
Augusta Precious Metals’ inventory includes many sought-after collectible coins. National services like the Numismatic Guaranty Corporation and the Professional Coin Grading Service often grade such coins, attesting to their validity and their face value.
Each purchase of investment-grade gold and silver through Augusta Precious Metals comes with lifetime access to the company’s investing resources and support. A rep can always help you make additional purchases. You can also utilize the website’s extensive educational resources and inquire about market updates.
Privately held precious metals investments don’t rely on government banking systems. Augusta Precious Metals is happy to ship such investments to your front door. Someone must be present to sign for receipt of the package.
Lifetime Support
What exactly does Augusta Precious Metals’ lifetime support actually look like? Even after you make your last purchase, the Augusta Precious Metals team is still on your side. Your account rep remains accessible as long as your account remains active. Lifetime support comes in many other forms, too:
Pricing and Fees
Investing in precious metals involves fees. It’s important to understand the fee structure before opening an account to avoid surprises after you make a purchase. Augusta Precious Metals focuses on information and transparency, their website has a price chart that tracks the real-time movement of precious metals prices.
As stated above, the minimum initial investment is $50,000 to invest in precious metals with an Augusta Precious Metals SDIRA. Although this seems steep, the overall quality of service, education, support, and product selection is worth it.
There are no investment limits. You might be required to verify your identity when making large purchases. Your account rep can confirm this before you acquire any product. August Precious Metals imposes an IRA setup fee, but it’s cheaper than setup fees associated with competitors.
There’s also an annual fee for accounts with balances less than $100.000. Once your account balance reaches or exceeds $100,000, you get a lower annual fee. Fees for custodial services and storage vary between the company and the depository you choose.
Average annual custodial and storage fees are typically a few hundred dollars. The law requires you to have a precious metals SDIRA custodian and an IRS-approved depository to store your physical purchases.
Augusta Precious Metals’ price structure per investment is quite reasonable. By using their website’s price chart to track precious metals prices, you can brush up on risks and advantages, check prices in real-time, and then make the best deal for your portfolio.
Augusta Precious Metals Price Protection
First-time buyers of Augusta Precious Metals enjoy a seven-day price protection refund policy. Making a purchase locks in your price for gold or silver on that day. If gold and silver prices dip within seven days after your first purchase, Augusta Precious Metals can cancel the transaction. Longer cancellation periods apply in certain states.
This sets Augusta Precious Metals apart from nearly every other company in the market. They accept personal checks up to $50,000 (at the time of this writing) and bank wires for any amount.
SDIRA Custodians and Approved Depositories
The IRS has strict requirements for the types of precious metals you can invest in with an IRA and who/where you can store them. Per the IRS, a licensed custodian must manage your IRA.
They serve as an investment manager; however, they don’t offer investment advice. Instead, they help maintain investments that you choose personally, seeing to your SDIRA’s paperwork and necessary tax reporting.
Physical precious metals purchased with and held in an IRA must be secured in an approved depository. The depository must be IRS-approved and meet strict insurance and security criteria.
What Are Your Storage Options?
There are many IRS-approved storage options where you can securely and legally keep the precious metals you invest in with your SDIRA. The United States boasts thousands of these depositories scattered throughout the Lower 48. Augusta Precious Metals has affiliations with eligible storage facilities in:
Regardless of your geographical location in the United States, there’s bound to be an eligible storage facility you can use. There are even depositories in Canada if you choose to store your SDIRA precious metals internationally.
Augusta Precious Metals most often utilizes the secure storage services of the Delaware depository. It’s one of the most respected and trusted storage facilities in the nation. They ensure every account up to $1 billion, compensating you in the event of losses.
Choose a Custodian
What do you look for in a precious metals IRA custodian? What criteria should they possess? How do you evaluate their services and fees and choose the right one?
Augusta Precious Metals is highly flexible, working with the custodian you select. They also offer equally advantageous relationships with their own vetted custodial partners. These partners have a long, fruitful, trusted relationship with Augusta Precious Metals. Take a look at three standout examples.
#1
Equity Trust Company
Some of the industry’s top precious metals IRA dealers work with Equity Trust Company. Widely known, respected, and trusted, the Equity Trust Company has decades of experience providing custodial services for SDIRAs. They have satisfied customers in all 50 states and manage up to $20 billion in customer funds annually.
#2
GoldStar Trust Company
Managing close to 40,000 IRAs, GoldStar Trust Company is the investment arm of Happy State Bank. At times, their assets exceed $5.5 billion. They also enjoy an A+ rating from the BBB.
#3
Kingdom Trust Company
Their actively managed assets total roughly $12 billion, with more than 100,000 clients. They focus on creating and cultivating unique custodial services.
Making an Purchase
Augusta Precious Metals makes purchases easy and relatively quick. After your purchase, Augusta Precious Metals communicates with your custodian for you. They ship the metals to your custodian free of charge, and the custodian then transfers the packaged precious metals to your secure vault. The process can take up to 10 business days.
Choose between segregated and non-segregated storage. In segregated storage, the depository stores your physical precious metals separately. The depository stores your physical precious metals with other people’s precious metals in non-segregated storage. The latter option is less expensive.
Depositories have top-level security and routinely audit their holdings. Plus, the value of the precious metals is insured. You’re welcome to visit the depository holding your precious metals at any time. Call beforehand to confirm if you need an appointment.
Scam or Real? A Closer Look at Augusta Precious Metals
With so much online and on television about investing in precious metals, it’s easy to get confused. Is Augusta Precious Metals just another scam? How do you know for sure?
Take a cue from friendly experts like us who’ve already done all of our due diligence. Augusta Precious Metals is a legitimate business regarded as one of the best at what it does. Their extensive resources, 24/7 assistance, and transparency give them many advantages over the competition.
They break the process down by departments and corresponding experts, keeping the process streamlined. A dedicated account manager offers timely assistance and information during every purchase. Some might find the $50,000 initial investment too pricey.
The Fine Print
Is there any fine print you should be aware of before working with Augusta Precious Metals? Fortunately, there isn’t. Augusta Precious Metals maintains a company culture committed to transparency and due diligence.
Although they have an A+ rating from the BBB, their track record reveals a BBB alert about government action taken in 2019. Brought by the State of Minnesota, the consent order raised concerns about Augusta Precious Metals' registration and licensing.
The company paid a small penalty of a few thousand dollars. They continue to do business throughout the United States, maintaining offices in California. No other BBB alerts appear in their file.
Awards, Accolades, Honors
A fruitful partnership with NFL legend Joe Montana is one of many things that make it appealing to do business with Augusta Precious Metals. Over the years, the company’s commitment to customer service, education, investor empowerment, and precious metals gained attention.
Money Magazine calls them the Best Overall Gold IRA company for 2023. They have an AAA rating from the Business Consumer Alliance and claim two Stevie Awards for excellence in business and customer service. Their philanthropic work includes contributions to extremely worthy causes.
Augusta Precious Metals contributes to K9s for Warriors, for example. K9s for Warriors is a non-profit American veterans service organization providing service dogs to veterans. Augusta Precious Metals enjoys the very unique honor of special agreements with the Royal Canadian Mint and the British Royal Mint.
These arrangements allow Augusta Precious Metals to be an exclusive North American distributor of many desirable coins from these mints:
Augusta Precious Metals Pros and Cons
PROS
CONS
Verdict
Final Thoughts
Augusta Precious Metals is a wonderful option when you’re ready to start diversifying your portfolio with precious metals. Their proven track record of success trusted relationships with icons like Joe Montana, and their customer service and educational resources distinguish them from the competition.
Past and current customers speak favorably of Augusta Precious Metals’ purchasing process. They praise it for being simple and informative. If holding precious metals in your retirement account appeals to you, reach out to Augusta Precious Metals today.
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