Augusta Precious Metals Review: Fees, Complaints, and Gold IRA Reviews
Augusta Precious Metals has over five decades of experience in the precious metals industry.
The company helps guide investors in setting up their precious metal IRAs, as well as purchasing gold and silver coins and bars. We cover the company’s offerings, costs, pros, and cons so you can make sound investing choices.
Augusta Precious Metals Background
Augusta Precious Metals is a family-owned business in Tarzana, CA, that has been in operation for over 50 years. It is a trusted provider of precious metal IRAs along with gold and silver physical assets.
The company has several positive consumer reviews on the Better Business Bureau, TrustLink, TrustPilot, and Business Consumer Alliance websites. Additionally, the company has been accredited by the Better Business Bureau since 2015.
Augusta partners with Canada’s Royal Mint and offers IRA-approved precious metals.
The company’s gold and silver agents can provide a personalized portfolio and can help clients:
Understand Augusta’s products and benefits
Build gold or silver portfolios to increase diversification
Learn about precious metals’ long-term returns
Handle distributions
Augusta Precious Metals
What’s offered
Self-directed Gold or Silver IRA; purchase physical gold or silver in cash; coins and bars; precious metals IRA education
As a leading provider of gold and silver precious metals and IRAs, Augusta has handled numerous accounts for investors looking to diversify their portfolios. They also work with credible custodians and depositories to help facilitate the client’s ease of registration and investing process. Augusta Precious Metals offers three ways to invest:
Gold and silver IRA
Gold coins and bars
Silver coins and bars
Gold and Silver IRA
Augusta Precious MetalsIRAs are self-directed investments that allow consumers to invest in physical assets, such as gold and silver. It works like a traditional IRA, except the account contains physical gold and silver instead of paper. Investors are guided throughout the investing process, including finding a custodian and storage facility for their convenience.
Precious metal IRA investors may choose to roll over their existing retirement account. In this instance, consumers need to complete the rollover process within 60 days to avoid incurring penalties and fees. Eligible accounts for rollover include:
Traditional IRA
Roth IRA
401(k)
403(b)
457
Thrift Savings Account (TSP)
Physical Precious Metals
As a result of the partnership with Royal Mint Canada, investors have a variety of precious metals to choose from. The company offers
from the American, Austrian, South African, Australian, and Canadian mints. Some of Augusta’s popular products include:
Gold
Australian Striped Marlin coin
One-ounce American Eagle coin
One-ounce Canadian Maple Leaf coin
One-ounce Austrian Philharmonic coin
One-ounce South African Krugerrand coin
One- and ten-ounce bars
Silver
Half-ounce Canadian Eagle coin
American Morgan Dollar
One-ounce American Eagle coin
One-ounce Austrian Philharmonic coin
Ten-ounce bar
Augusta Precious Metals Fees and Costs
Augusta Precious Metals requires a $50,000 minimum investment for precious metal IRAs, gold, and silver. Additionally, the company charges one-time setup fees for IRAs. Lastly, investors will be charged annual maintenance and storage fees.
Non-IRA precious metals can alternatively be stored at home at no cost. However, if investors choose to store their assets at a depository, Augusta Precious Metals offers storage options in:
Los Angeles, CA
Salt Lake City, UT
Jackson, OH
Wilmington, DE
Springfield Gardens, NY
Augusta Precious Metals Pros and Cons
Like any financial instrument in the market, investors need to be fully informed about the benefits and risks of investing in any Augusta gold and silver options.
Pros
Investment Specialists
All clients meet with a Harvard-educated economist to educate them further on gold and IRA investments
Protection
Products and products come with price protection
Guaranteed Money Back
100% money-back guarantee for new customers who purchased premium precious metals within seven days of purchase
Insured
Insurance included for all precious metals shipped to chosen depository
Great reputation
They have an excellent reputation as there are very few Augusta Precious Metals complaints, with customers praising their transparency, knowledgeable staff, and prompt service.
Cons
Limited Products
The company only offers gold and silver physical coins and bars.
No International Storage
There are no international storage services available
High Minimum
The minimum investment amount for IRAs and non-IRAs is $50,000.
Expensive Fees
Many exclusive and rare coins have higher premiums.
No Online Platform
To open an account, investors need to call the company to speak with a representative.
How to Get Started?
Whether you’re looking to diversify your retirement portfolio or are thinking of the future value of a precious metals IRA, Augusta Precious Metals can help.
First, you’ll need to call the company directly to speak with a representative who can assist with the setup process. Then, choose from three affiliated custodians: Kingdom Trust, Equity Trust, and GoldStar Trust Company. You should have at least $50,000 to buy or invest in a gold IRA, silver IRA, coins, or bullions directly from Augusta.
Some retirement accounts are eligible for rollover, and you can ask an Augusta Precious Metals representative to verify your account’s eligibility. Additionally, all investors who purchase Augusta’s products will be invited to a one-on-one web conference.
Finally, IRA gold and silver are transferred to an allied depository, notably the Delaware Depository in North America.
Augusta Precious Metals Review, Ratings, and Complaints
The Better Business Bureau gave the company an A+ rating, while Business Consumer Alliance awarded a triple-A rating. Additionally, Augusta Precious Metals has received mostly five-star reviews on various popular consumer review platforms.
What Types of Gold and Silver Does Augusta Precious Metals Sell?
There are numerous types of precious metals available for investors to choose from. The most popular varieties include bullion coins, bars, and premium coins.
In general, numerous Augusta Precious Metals reviews commonly touched on the following metals as good investment options:
Gold
Credit and Pamp Suisse bars
American Eagles and American Eagle proofs
Canadian Maple Leaf coins
Vienna Philharmonic coins
Australian Kangaroo coins
Silver
American Eagle coins
Australian Koala coins
Canadian Maple Leaf coins
Clients also have the option to purchase gold and silver bars. Their most popular picks under this category are one- and ten-ounce gold and silver bars.
How Can I Check My Augusta Precious Metals Gold IRA Performance?
You can check your accounts online at any time. Clients could also expect quarterly statements to monitor their investment performance.
Does Augusta Precious Metals Charge Any Gold IRA Account Management Fees?
This is a self-directed investment. You will primarily be managing your account and will not require any investment fee. However, custodial and storage fees still apply with a Gold IRA.
How Much Can I Earn by Investing in an Augusta Precious Metals Gold IRA?
Augusta Precious Metals products are subject to certain risks. However, since it’s not correlated with stock and bond performance, investing in a precious metal IRA could provide some cushion against inflation.
How Can I Make a Withdrawal From My Augusta Precious Metals Gold IRA?
You can approach any Augusta representative and ask for a withdrawal from your account. Be sure to let your custodian know you’re withdrawing your investment (partial or complete) from your account. Early withdrawals are subject to penalties.
How Will Gold and Silver Be Stored?
Augusta Precious Metals has often advertised the Delaware Depository for this type of service. However, you can choose from numerous fully-insured depositories affiliated with the company. These non-government facilities are equipped for maximum security with class three security vaults, compliant with all regulations, and insured for up to $1 billion.
Here are some of the locations of the storage facilities:
Springfield Gardens, New York
Los Angeles, California
Wilmington, Delaware
Salt Lake City, Utah
Jackson, Ohio
Is Augusta Precious Metals a Scam?
No. By checking numerous Augusta Precious Metals reviews online, you can tell that this company has been providing value for its clients for many years. Aside from some Augusta precious metals complaints filed with the Minnesota Department of Commerce, most consumer reviews are positive.
Its reputation and clean track record are two factors that make Augusta a legitimate institution for precious metal IRAs. Furthermore, they are also a part of the Industry Council for Tangible Assets (ICTA), the national association for organizations specializing in rare coins, currency dealers, and precious metals.
When you're ready to invest in gold and silver or want a precious metal IRA, you may consider Augusta's Precious Metals. They are knowledgeable about all things related to precious metal investments, from opening an individual retirement account (IRA) right down to the investment projection, benefits, and risks involved in this type of financial instrument.
