If you’re considering opening a precious metals IRA as part of your long-term retirement strategy, there’s a good chance you’ve stumbled upon Augusta Precious Metals. The company can be seen advertising on conservative radio, internet, and even on cable television. But is Augusta Precious Metals the right choice for your Gold IRA?
Executive Summary
Don’t have time to read the full review? In short, Augusta Precious Metals:
- Has been in business for over a decade
- Holds the highest possible ratings with the BBB and BCA
- Shows 5-star average ratings from customers on TrustLink and Google Reviews
- Offers a unique one-on-one educational web conference for all prospects
- Free gold coin for attending an educational web conference
- Customers qualify for zero IRA fees for up to ten years
- Rated the top gold IRA company by Money Magazine in 2022
- Ranked “Best for Transparent Pricing” by Investopedia
- Trusted and endorsed by Joe Montana, Mark Levin, and Jeanine Pirro
The company offers a wide selection of gold and silver products, a competitive buyback program, and all customers qualify for zero IRA fees for up to ten years.
Based on the company’s overwhelmingly positive record, we’ve added them to the top of our list of best gold IRA companies for 2024. If you want to diversify a small portion of your retirement savings into physical gold and silver bullion, you should consider Augusta Precious Metals.
Company Background
Who’s behind the company? Augusta Precious Metals was launched in 2012 by industry veteran Isaac Nuriani. The CEO started this company with the idea of making the gold IRA process simple and easy.
The dealer also puts a focus on customer education as one of the only precious metal IRA dealers to offer customers a free one-on-one educational webinar designed by Devlyn Steele. A member of Harvard’s School of Business Analytics program, Steele has put together an informative, no-pressure webinar allowing customers to ask questions and learn about the gold IRA rollover process.
Whether you decide to open an IRA with Augusta Precious Metals or not, it can’t hurt to ask about their webinar as an educational resource to learn more about your options with precious metals.
Augusta Precious Metals Reviews
Where this company really ‘shines’ is in its online reputation and customer reviews.
The Better Business Bureau gives Augusta Precious Metals an A+ rating. Accredited since 2015, the gold dealer has a 4.93-star average rating based on 122 customer reviews.
The gold dealer has earned a AAA rating with the Business Consumer Alliance (BCA) with a 5-star average rating based on 97 verified customer reviews.
TrustLink reveals more of the same with an overwhelmingly 5-star average rating from 285 verified customer reviews.
Money Magazine has ranked Augusta Precious Metals “Best Overall” two years in a row (2022 and 2023). Investopedia ranks the gold IRA dealer as “Best for Transparent Pricing,” and the company is trusted by celebrity spokesman Joe Montana (who is also a customer).
Augusta Precious Metals Complaints
Augusta Precious Metals has been in business for over a decade and completed billions of dollars in customer transactions. Even the best U.S. businesses are going to have some unsatisfied customers file complaints or leave poor reviews. It’s fair to expect when a business has served thousands of customers.
It’s impressive to report the company has an almost spotless record. I reached out and spoken directly with the CEO before writing this review. He also pointed out that their mission is to serve customers for life. Not only are complaints almost non-existent, but roughly 33% of their customers stick with the gold dealer long-term and are repeat buyers over the lifetime of their account.
What I Don’t Like About the Company
Our review would be incomplete without any Augusta Precious Metals complaints. Our main issue is that the company has a minimum investment amount of $50,000. This is higher than many of their competitors.
If you’re considering rolling over $50,000 or more into precious metals, then you may consider Augusta Precious Metals. If their account minimum is too high for your retirement savings goals, know that there are several Augusta Precious Metals alternatives that we’ve listed below for your consideration. Some companies have gold IRA minimums as low as $10,000.
How to Open a Gold IRA with Augusta Precious Metals
Your first step is to request your gold IRA guide from the company. A phone rep from the company will call you to confirm your mailing address to ship your physical gold IRA guide.
This is also a great opportunity to schedule your one-on-one web conference with Augusta Precious Metals’ team. Use this web conference to ask questions you may have about gold IRAs and the gold-buying process.
Note: Augusta Precious Metals will mail you a free 1/10 oz gold coin just for participating in their free web conference. It’s their way of paying you to learn about gold IRAs.
If you decide to open a precious metals IRA with Augusta Precious Metals, they will:
- Help you complete the self-directed gold IRA paperwork
- Act as a liaison between your current 401(k) or IRA provider and your new IRA
- Assist in the rollover or transfer of funds to your new account
- Help you choose the gold and silver products for your new gold IRA
- Facilitate the delivery of your metals to a secure private (IRS-approved) vault depository
With over a decade in business, Augusta Precious Metals has developed relationships with the top self-directed IRA custodians, gold depositories, and the company can source just about any metals you’re interested in buying.
They’re a one-stop shop that specializes almost exclusively in precious metals IRAs.
Cash Purchases
While their specialty is gold IRAs, it’s important to note that a large percentage of their business is also in facilitating cash deals for customers that prefer to have their precious metals purchase delivered to their home.
Augusta Precious Metals can deliver your gold and silver (fully insured) to your destination of choice in all 50 states.
It’s important to note: Similar to their IRAs, Augusta Precious Metals also has a $50,000 account minimum for cash purchases. For this reason, it may make more sense to use a local coin shop or online e-commerce store for the purchase of silver or gold coins held in your home collection.
Gold and Silver Products
While some gold IRA companies claim to have the largest selection of metals, the truth is that all of the big gold dealers can source just about any bars or coins from the same suppliers. So if there’s a specific gold or silver bullion coin that you want for your IRA, Augusta Precious Metals should be able to secure it without issue.
Some dealers offer a wide selection of gold, silver, platinum, and palladium products for their customers. What’s unique about Augusta Precious Metals is their focus on the most popular gold and silver that the majority of customers are looking for.
This is to not overwhelm customers with every possible investment option. So what are some of the bars and coins that Augusta Precious Metals offers?
IRA-Eligible Gold and Silver
The 1997 Taxpayer Relief Act created an opportunity for Americans to buy gold and silver with their IRA, but now there are limitations. Only certain precious metals are eligible for inclusion in a retirement account.
Bullion coins, bars, and rounds must meet the fineness requirements set by the IRS. Some popular examples for your gold IRA include:
- Gold or Silver American Eagles (bullion or proof)
- Gold American Buffalos
- Gold Britannias
- Gold or Silver Canadian Maple Leafs
- Gold Canadian Polar Bears
- Austrian Gold and Silver Philharmonics
- America the Beautiful Silver coins
- Gold or Silver Australian Striped Marlins
- Canadian Silver Soaring Eagles
This is not an exhaustive list. More examples can be found on the company website. Numismatics, rare, or collector coins are not allowed in IRAs. Your gold specialist at Augusta Precious Metals can help answer questions and ensure your selected bullion coins, rounds, and bars meet the purity requirements for IRA purchases.
For the gold collector or cash buyer, Augusta Precious Metals also has a wide selection of “premium” coins to choose from.
Note: The IRS has made an exception only for the American Eagle “Proof” coins. These proofs are only 22 karat and are allowed in your IRA despite the fact that they do not meet the fineness requirements for IRA-eligible metals.
These proof coins often trade at a higher markup than bullion coins and rounds, and it’s questionable whether or not they make a better long-term investment. Ask a trusted gold and silver expert (not a salesman), but if you’re new to precious metals, it’s best to avoid “premium” coins and stick to bullion.
Pricing and Fees (Storage and Custodial Fees)
A precious metals IRA is a retirement account with all of the same tax benefits and rules you’ll find with a 401(k), or other IRA. You can roll over or transfer a portion of your current 401(k) or IRA into physical gold and silver (without taxes or penalty), but you must follow the IRA tax rules.
Your account must be administered through a self-directed IRA custodian, and your metals must be held in an IRS-approved precious metals depository.
IRS-Approved Storage Partners
There are a number of private (non-government) vault depositories across the United States that specialize in the safe and secure storage of precious metal IRAs. Some of the more popular options you’ll find in your research and gold IRA reviews include:
- Brinks
- Delaware Depository
- International Depository Services
Augusta Precious Metals is able to work with any private vault depository of your choice. If you do not have a preferred gold IRA depository, they typically recommend Delaware Depository.
With Delaware Depository, your metals are IRS-compliant and covered by a $1 billion all-risk insurance through Lloyd’s of London. Founded in 1999, Delaware Depository is a top choice for several of the large gold IRA companies.
Storage fees: Expect to pay a flat rate of $150 annually for your gold IRA storage.
We’ll discuss Augusta Precious Metals’ ongoing promotions in more detail below, but at the time of this writing, all IRA customers qualify to have storage facility fees covered for up to ten years.
If you decide to work with Augusta Precious Metals, make sure to ask about any incentives or promotions for new accounts.
Recommended Gold IRA Custodian
Augusta Precious Metals has also vetted and reviewed all of the top self-directed IRA custodians that specialize in gold and silver IRAs. Some of the more common providers you’ll see with gold IRAs include:
- Equity Trust Company
- Forge Trust
- Goldstar Trust
- Strata Trust
While you have the option to use any gold IRA custodian of your choice, Augusta Precious Metals works with Equity Trust and prominently lists them as the default option on their website.
Equity Trust has more than thirty years of experience facilitating gold IRAs. The company works with customers in all fifty states and manages more than $25 billion in assets.
IRA custodial fees: If you work with Equity Trust, you can expect to pay $100 annually.
The company is currently running a unique promotion. Augusta Precious Metals offers to cover all IRA custodial fees for up to ten years on new accounts. Again, make sure to confirm any current promotional offers with your gold specialist.
Gold and Silver Pricing
It’s important to understand that Augusta Precious Metals does not charge any annual fees to administer your account. The custodial and storage fees are paid directly to your custodian and depository of choice.
Augusta Precious Metals is available by phone if you ever have questions or concerns with your account. They can act as a liaison with your custodian and storage partner, but they do not charge any added fees for this customer service.
Again, Augusta Precious Metals will even cover these custodial and storage fees for up to ten years.
Augusta Precious Metals is paid when you purchase your gold or silver products. The company pays a wholesale price for your bullion products and sells these metals to you, the retail customer at a markup based on the current market.
This spread between the wholesale and retail price of the metals is how Augusta Precious Metals gets paid.
Whether you choose to work with Augusta Precious Metals or a competitor, make sure to compare pricing along with annual storage and custodial fees. It’s also smart to factor in any incentives or promotions before choosing a company and buying precious metals.
Their current offer to cover all IRA fees for up to ten years is a unique incentive to consider opening an IRA with Augusta Precious Metals.
Gold Buyback Program
I spoke directly with Isaac Nuriani the CEO of Augusta Precious Metals and asked about their buyback program. According to Nuriani, the company offers very competitive pricing if and when you decide to sell your metals, liquidate a portion of your account, or take a distribution on your gold or silver IRA.
While the company is not required by law to buy back your metals, they have never denied a customer request to buy back their bullion gold and silver coins or bars. A buyback program is excellent to have with any gold IRA company because you don’t want to search for a buyer if and when you decide to sell.
You have a ready buyer that will offer a decent price for your precious metals. Of course, whether you decide to work with Augusta Precious Metals or a competitor, make sure to get the details of their buyback program in writing.
Your precious metals company should send all of this information for review before making a purchase in your precious metals portfolio.
Augusta Precious Metals vs Competitors
An Augusta Precious Metals review would be incomplete without comparing the company with other leading gold IRA dealers. You’ll want to review at least two or three gold companies, compare fees, pricing, and promotional offers before making any final decisions.
Augusta Precious Metals Alternatives
We’ve sifted through hundreds of gold dealers that specialize in gold or silver IRAs. The companies below are worth comparing against Augusta Precious Metals
American Hartford Gold
Founded in 2015, American Hartford Gold currently has an A+ rating with the Better Business Bureau and an AA rating with the Business Consumer Alliance. The company has an excellent 4.9 out of 5-star average rating on TrustLink and is endorsed by former Mayor Rudy Giuliani.
- Account minimum: $10,000
- Current Promotion: Up to $15,000 in free silver for new accounts
Birch Gold Group
One of the biggest names in gold IRAs, Birch Gold is a highly visible gold dealer with ads all over conservative tv and radio. With twenty years in business and billions in customer transactions, the company also has an A+ with the BBB and hundreds of 5-star reviews.
- Account minimum: $10,000
- Current Promotion: Up to $10,000 in free precious metals for new accounts
Gold Alliance
Another established dealer with over twenty years of serving U.S. customers, Gold Alliance has an A+ with the Better Business Bureau, an AAA rating with the Business Consumer Alliance, and a celebrity endorsement from former Governor Mike Huckabee.
- Account minimum: $10,000 for cash purchases and $20,000 minimum for gold IRAs
- Current Promotion: Up to $15,000 in free metals for qualifying new accounts
Augusta Precious Metals Review (Final Verdict)
In my research, Augusta Precious Metals is a reputable and trusted gold IRA company. The business has earned top ratings on consumer watchdog websites like the BBB and BCA.
Overwhelmingly, the average Augusta Precious Metals review hovers around 5 stars across all the major review sites including TrustLink and Google reviews.
Augusta Precious Metals sell bullion gold coins and bars at competitive markup, they cover up to ten years of IRA fees and have earned the trust of everyday Americans and even celebrities. Hall of Fame quarterback Joe Montana and political figures like Mark Levin recommend Augusta Precious Metals as their preferred gold IRA provider.
While I think their $50,000 account minimum is high, this barrier to entry allows them to work closer with a smaller number of customers. It’s not unusual for customers to speak directly with CEO Isaac Nuriani or their director of education, Devlyn Steele while setting up their gold IRA account.
The gold IRA dealer is more personable with a small sales floor of hand-selected precious metals experts versus other gold companies that hire hundreds of employees working the phones. They are not a high-volume operation, almost more of a boutique shop for purchasing gold bullion.
I met with the CEO myself before writing this review and can tell from our short conversation that the company values building long-term relationships with its customers. Their specialty is ‘white glove’ premier customer service.
They take their time presenting information and answering questions via their one-on-one no-pressure educational web conferences and they even mail you a free 1/10 oz gold coin just for participating.
If you’re considering rolling over or transferring $50,000 or more into a precious metals IRA, you should put Augusta Precious Metals on your shortlist to consider. It’s worth your time to schedule a one-on-one webinar even if you don’t end up buying gold from the company. You’ll learn a lot about their streamlined gold IRA process and learn what to expect from your gold dealer.
FAQs
Most traditional 401(k)s and employer-sponsored retirement plans offer the same vanilla investments like stocks, index funds, and mutual funds. If you’re interested in diversifying your 401(k) into physical metals, there’s a strong chance your 401(k) doesn’t have an option.
This is where a gold IRA comes in. You can roll over or transfer a portion of your retirement plan into a self-directed IRA and use this new account to buy physical gold and silver bullion.
In general, most financial experts will recommend allocating 5-15% of your retirement savings into precious metals like gold and silver.
This is your retirement, so always consult with a financial advisor before making any major decisions with your life savings. Your advisor can review your financial situation and help you decide what is best for your long-term retirement goals.
You’re buying gold and silver to diversify your portfolio. Buying too much of any one investment is not diversification. If a gold salesman recommends putting 50% or more of your money into gold, get off the phone. He or she is not working in your best interest.
Gold IRA advertisements sometimes refer to precious metals as “inflation-proof” assets. There are no “inflation-proof” investments. Historically, people turn to gold as a hedge against inflation, but all investments carry risks and past performance is not an indicator of future results.
When you open a gold and silver IRA with a company like Augusta Precious Metals, you can sleep well knowing your precious metals are held in a safe and secure private vault depository that is monitored 24/7.
A few years ago, a few gold IRA companies were peddling the “home storage gold IRA.” The idea of buying metals tax-free and holding them in your home safe sounds tempting to many, but beware: This arrangement could result in a big red target on your back by the IRS.
One wrong move could result in a disqualified IRA, hefty fees, tax penalties, or an IRS audit. In 2018, the Industry Council for Tangible Assets (ICTA) stepped in with this warning for Americans considering such an investment vehicle.
Don’t fall for any of these ‘too good to be true’ offers. Call a reputable precious metals IRA company and set up a self-directed IRA the right way.
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