Updated August 4, 2022

Augusta Precious Metals Review

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Augusta Precious Metals is a trusted gold and silver IRA provider. But is the high account minimum right for you? Read the full review.

Augusta Precious Metals
Gold IRA Retirement Diversification

Overall Score

3.7

Minimum Deposit

1.0

Customer Service

5.0

Gold IRA

4.0

Fees

3.5

Safety

5.0
5-point scale (the higher, the better)

Pros and Cons

  • Lifetime support
  • Priority on education
  • A+ BBB rating
  • $50,000 minimum
  • High markup on premium coins

Bottom Line

Gold IRA specialists known for stellar support, but with higher minimum investment

Most people's retirement savings are in stocks. So the value of those savings can go up or down depending on the stock market.

That's a scary prospect. You work hard all your life to retire. Then find out that your savings have taken a nosedive.

Augusta Precious Metals offers a more stable way to save for retirement by helping you invest in gold and other precious metals.

Adding gold to your investment portfolio can help reduce your risk because precious metals have a low correlation to stocks. They're less likely to go down in value at the same time.

That's why many advisors suggest keeping them as a small percentage of your holdings.

But Augusta Precious Metals does have a high account minimum. And some annual fees. So will it be right for you? Or is there a better gold IRA provider?

Read this detailed review of Augusta Precious Metals to learn everything you need to know.

What Is Augusta Precious Metals?

First, let's take a look at the company itself. What is Augusta Precious Metals, and what do they do?

Augusta Precious Metals is a company that provides gold and silver IRAs. Isaac Nuriani founded the company in 2012. He wanted to help retirement investors diversify their portfolios — protecting them from inflation and the stock market's volatility.

The requirements to open an IRA account with Augusta Precious Metals are high. $50,000 is the account minimum. But if you have the money, they have lower annual fees than their competitors.

Augusta Precious Metals vs Noble Gold: Noble Gold only requires a $2,000 account minimum and has similar fees and services to Augusta. We compare the two head-to-head later in the article.

Augusta also provides everything you need to get started and keep your account going, including:

  • Access to gold and silver, which they sell
  • An IRA custodian that supports precious metals as an investment option (many IRA custodians don't)
  • Storage options, because you'll need somewhere to keep your gold and silver once you've bought it

Finally, they offer a wide range of products and services comparable to their competitors.

What Products and Services Does Augusta Precious Metals Offer?

Now that you have a better idea of what Augusta Precious Metals is, let's take a deeper look at their products and services.

You already know they provide access to precious metals retirement investing through their Physical Gold and Silver IRA.

We'll also take a look at the products they offer, including their:

  • Gold and silver coins
  • Gold and silver bullion
  • Gold buy-back program

Now let's dive in.

Physical Gold & Silver IRA

The Physical Gold and Silver IRA from Augusta Precious Metals is their primary offering. It allows investors with over $50,000 to invest in gold and silver as a part of their tax-advantaged retirement account.

This self-directed IRA is easy to open and simple to use.

  1. Simply sign up for an Augusta Precious Metals account
  2. Fund it with dollars from your existing retirement account
  3. Buy gold and silver

The Physical Gold and Silver IRA from Augusta Precious Metals is offered in partnership with a preselected custodian, Equity Trust. They serve customers in all 50 states, have over 45 years of experience as a self-directed IRA provider, and manage over $34 billion in assets.

And since storage is such an important factor with a physical gold and silver IRA, they've secured storage with the IRS-compliant Delaware Depository, the exchange-approved depository for CME (Chicago Mercantile Exchange) and ICE (Intercontinental Exchange).

In addition to the depository's physical security, your gold and silver will be protected by $1 billion all-risk insurance provided by Lloyd's of London.

The Augusta Physical Gold and Silver IRA is one of the best on the market, as you can see in the comparison with their competitors below.

Gold and Silver Coins

You can fund your Physical Gold and Silver IRA from Augusta Precious Metals with a few options. One of them is with gold and silver coins which they offer.

Barring the exception of the American Gold Eagle coin, which is 91.67% pure, all gold coins offered are 99.5% pure, per regulations. Their silver coins are 99.9% pure.

Augusta Precious Metals customers have a range of coins to choose from, including:

  • American Eagles
  • American Eagle Proofs
  • Canadian Maple Leaves
  • Gold Canadian Eagles
  • Canadian Silver Eagles and more

Current pricing isn't listed, so you'll need to call Augusta Precious Metals to learn more.

Gold And Silver Bullion

In addition to a selection of high-quality gold and silver coins, Augusta Precious Metals offers a range of gold and silver bullion.

Bullion must be produced by an approved refiner to be eligible for inclusion in a precious metals IRA.

The gold and silver bullion you find at Augusta Precious Metals includes:

  • Gold American Eagle BU (1 oz, .5 oz, .25 oz, .10 oz)
  • Gold American Buffalo (1 oz BU)
  • South African Gold Krugerrand (1 oz)
  • Gold Bar (10 oz)
  • Gold Bar (1 oz)
  • American Eagle Silver (1 oz)
  • Silver Bar (100 oz)
  • Silver Bar (10 oz) and more

Like their gold and silver coins, bullion prices are unlisted. You'll need to call Augusta Precious Metals for the latest pricing.

Gold Buy-Back Program

While you may not intend to sell your gold soon, there's always the chance your position changes and you want to make a quick sale.

Whether you're taking an RMD (Required Minimum Distribution) or looking to liquidate your gold for some other reason, you don't need to worry, thanks to Augusta Precious Metals' Gold Buy-Back Program.

This program ensures you'll always have a buyer if you need to sell.

You can sell your gold on your own, of course. But you can do it with peace of mind knowing that Augusta will also offer you competitive rates.

One of Augusta's competitors, Noble Gold, also offers a gold buy-back program which will be covered soon.

Minimum, Pricing, and Fees

Before you choose Augusta Precious Metals as your IRA provider, you'll want to know what they charge. Let's take a look at their minimum, pricing, and fees.

Augusta Precious Metals requires you to open an account with a minimum of $50,000.[1] For some investors, this is too high, so below, you'll find other respected companies with lower minimums.

While Augusta Precious Metals doesn't charge commission or transaction fees, purchases through Augusta are subject to a Bid/Ask Spread. This varies by product type.

The Bid/Ask Spread is the difference in the asking price versus the bidding price for an asset on the market. A high Bid/Ask Spread could mean you're early to the investment. But it also means it has a higher risk.

According to Augusta's Transaction Agreement, the spreads are generally:

  • Common Bullion Products: 5%
  • Premium Products: 33%

Other fees to look out for:

  • Account Setup Fee: $50
  • Annual Fee: $250 for the first year, $200 each year afterwards

Augusta's fees are similar to or lower than their competitors, which are covered at the bottom.

Pros and Cons

Let's briefly look at the pros and cons of opening a precious metals IRA with Augusta Precious Metals. First, the pros.

Pros

  • Strong reputation: You'll be happy to hear that plenty of customers rave about Augusta Precious Metals. In addition to a large number of 5-star reviews, they have an AAA rating with the Business Consumer Alliance, and an A+ from the Better Business Bureau.

  • Cost effective: While they don't have the absolute lowest fees, Augusta Precious Metals offers comparable pricing to many of its competitors.

  • Personalized service: Augusta Precious Metals goes out of its way to guide you through the process of setting up and funding a precious metals IRA, including a one-on-one webinar to answer all of your questions about the process.

  • Lifetime support: Augusta isn't just there for your account setup and purchase. They're there to support you for the entire life of your account. They can help from general gold education to distribution management.

Cons

  • Costly initial investment: The only real drawback to using Augusta Precious Metals is the high cost of entry. While a $50,000 initial investment may be within reach of some retirement savers, others may find it too steep. Plus, many providers only require $10,000 to start. Some are as low as $2,000.

Reputation and Complaints

Knowing what others think about a business can give you a better idea of whether you want to become a customer. To that end, we've checked around the web at the most commonly trusted sources to see what people think about Augusta Precious Metals.

Here's how things looked at the time of writing:

Better Business Bureau
With 105 reviews given, Augusta Precious Metals had an A+ rating with the BBB, and an average rating of 4.96/5 stars.

Business Consumer Alliance
With 89 reviews given, Augusta had an AAA rating with the BCA, and 5 stars.

Trustlink
With 280 reviews given, Augusta had a 5-star rating with Trustlink.

Google Reviews
With 241 reviews given, Augusta had 4.9/5 stars on Google Reviews.

There were no public complaints we could find about Augusta Precious Metals.

Is Augusta Precious Metals Safe and Secure?

You want to ensure security is taken seriously when setting up any retirement or investment account, especially one dealing with physical gold and silver like the IRA from Augusta Precious Metals.

Augusta has secured storage with Delaware Depository. They also have depositories around the U.S., in:
  • Los Angeles, California
  • Salt Lake City, Utah
  • Jackson, Ohio
  • Wilmington, Delaware
  • New Castle, Delaware
  • Springfield Gardens, New York
  • Nampa, Idaho
  • Las Vegas, Nevada
  • Shiner, Texas
  • Dallas, Texas
  • South Fargo, North Dakota
  • Bridgewater, Massachusetts.[2]
If you're interested in visiting one of Augusta's gold storage centers, your custodian can arrange those visits.

Your gold and silver are also protected by a $1 billion all-risk insurance policy provided by Lloyd's of London.

Augusta Precious Metals FAQs

Is Augusta Precious Metals legit?
Yes, it's safe to say that Augusta Precious Metals is a legit precious metals IRA provider.

They've partnered with custodian Equity Trust to provide their precious metals IRA. Equity Trust is a company that has been around for over 45 years and provides self-directed IRAs. They manage over $34 billion in assets.

And the gold and silver in your IRA is safely stored with depositories like Delaware Depository, which is protected by $1 billion all-risk insurance provided by Lloyd's of London.

They have an A+ rating with the Better Business Bureau and an AAA rating with the Business Consumer Alliance.

If you're still concerned, take a look at this helpful guide from the CTFC on how to identify precious metals fraud.

Are precious metals still a good investment?
While we can't offer specific investment advice, we can tell you that precious metals like gold and silver have historically offered a reduction in risk to those primarily invested in stocks because of the low correlation between them.

Adding diversification to your investment portfolio is generally a sound investment strategy. By investing in precious metals, you are less subject to the volatility of a purely stock-based portfolio.

Who is Augusta Precious Metals best for?
Augusta Precious Metals is best for retirement investors interested in diversifying away from only stocks and similar investments. And who have at least $50,000 saved for an initial investment.

What is the best metal to buy right now?
Any honest broker will tell you that there's no way of knowing which metal is the best to buy. Predicting the market is tricky, and even experts frequently make mistakes.

Diversification is your best hedge against a fluctuating market. That said, gold and silver are likely the most beginner-friendly metals for new investors. They are the easiest to access and are widely bought and sold.

Is it worth buying precious metals?
There is no way to know for sure if now is a good time to buy precious metals or not. However, they can be a good way to diversify a portfolio mostly made up of stocks and other investments.

Precious metals also have a low correlation with the stock market, so they can help reduce the volatility of someone's investment portfolio.

Augusta Precious Metals vs. Competitors

Now that you've got a solid idea of what Augusta Precious Metals is and what services they offer, let's take a moment to remember that they don't operate in a vacuum. There are several other precious metals IRA providers worth considering.

To that end, we're going to see how Augusta stands up to some of its top competitors: Goldco, Noble Gold, and Birch Gold Group.

Goldco

Let's start with some important stats. Goldco has a minimum investment of $25,000. They have a $200 annual fees, which is the same as Augusta. However, their markup is higher, starting at 7% (compared to 5% for Augusta).

But if you at least $50,000 investment, they offer 5% back in premium silver. And investments over $100,000 get additional 10% in silver.

Customers give Goldco similar reviews to Augusta.

Goldco offers a few more investment options than Augusta, with palladium and platinum in addition to gold and silver.

Both companies are known for personalized service and excellent customer support. Augusta offers price matching on precious metals coins and bullion, while Goldco does not.

Overall, you may save on fees by going with Augusta, but the extra cost may be worth choosing Goldco if you can't afford Augusta's minimum $50,000 investment. Or if you want to invest in palladium or platinum.

Noble Gold

Noble Gold has a minimum investment of only $20,000. Their setup fee is $80 and you'll also pay a $150 annual fee if you store in Texas or Delaware.[3] However, their markup is even higher at 9% - 11%.

Customers give Noble Gold similar reviews to Augusta.

Overall, Noble Gold offers comparable service to Augusta, and even employs Equity Trust as their custodian. And they have a gold buy-back program like Augusta.

With a lower minimum investment of $20,000, Noble Gold is a good alternative to Augusta Precious Metals for those who can't afford Augusta's $50,000 minimum.

Birch Gold Group

Birch Gold Group has the lowest minimum investment at $10,000. Their annual fee is $175. And they waive fees in the first year for accounts over $50,000.

Customers give Birch Gold Group similar reviews to Augusta.

They charge similar fees and overall offer comparable service to Augusta. But Birch Gold Group offers palladium and platinum, in addition to gold and silver, which Augusta Precious Metals does not.

Though you would be fine going with either provider, the $10,000 minimum required by Birch Gold Group will prove more attainable than the $50,000 required by Augusta.

Bottom Line

Augusta Precious Metals is a reputable provider of precious metals IRAs dealing in gold and silver. They have almost exclusively positive reviews and don't have any obvious deficiencies compared to other popular precious metals IRA providers.

One reason to choose them is because of their exceptional customer service. Their team of specialists are there to support you for the entire lifetime of your account. The only downside is their relatively steep minimum investment of $50,000 or more.

References

  1. ^ Augusta Precious Metals. Are there minimum and maximum orders?, Retrieved 6/19/2022
  2. ^ Augusta Precious Metals. Where are the private storage facilities located?, Retrieved 6/19/2022
  3. ^ Noble Gold. What are the fees for my new Gold IRA?, Retrieved 6/19/2022
Augusta Precious Metals

Gold IRA Retirement Diversification

Learn how to diversify your retirement savings with a gold IRA.

Goldco

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Expires 9/30/2022

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Jeremy Harshman is a creative assistant at CreditDonkey, a personal finance comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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