Augusta Precious Metals Review – Is it a Scam or Legit?
Feel the Confidence: A Gold IRA Company That Prioritizes YOU
You know how when you’re flying, and the flight attendant reminds you to put your oxygen mask on first before helping others? That’s how Augusta Precious Metals does business – they look after you first and foremost. Their approach to customer satisfaction is no different – they’re like a knowledgeable friend who walks you through the ins and outs of your purchase, and they stick around even after you’ve made the buy. Their dedication hasn’t gone unnoticed – in fact, Money magazine dubbed them the “Best Overall” gold IRA company in 2022!
2024 Augusta Gold IRA: A Comprehensive Breakdown
Much like a good spice rack, diversifying your retirement portfolio with a pinch of precious metals, say, between 5% to 20%, can add a lot of flavor. Opting for a gold IRA can provide some tasty tax benefits, but you’re going to need a top-notch precious metals broker to get the job done right.
Amid the sea of choices, Augusta Precious Metals shines brightly with their top-tier customer service, user-friendly processes, and invaluable educational resources. They take what could be a complex process and transform it into a walk in the park.
At Augusta Precious Metals, it’s all about a smooth sailing experience. With distinct departments and teams, you’re assured of prompt and accurate assistance every time.
Disclosure: As a professional review site, we may receive compensation from companies whose products we review and recommend. It’s important to note that we are independently owned, and the opinions expressed on our site are solely our own.
Pros & Cons
Pros
- Named the “Best Overall Gold IRA Company of 2022” by Money magazine
- Endorsed by celebrity and former customer, Joe Montana
- Free access to in-depth educational materials
- Customer support and loyalty for the duration of their account
- Streamlined services for ease
- Highly transparent company with impeccable integrity
Cons
- $50,000 minimum investment level, which may be high for some investors
- No small lots of coins and bars available
All About Augusta Precious Metals
Augusta Precious Metals isn’t just impressive – it’s like the Beatles of the precious metals world. They’ve got rave reviews from customers and have been dubbed the “Best Overall Gold IRA Company” by Money magazine in 2022.
Started in 2012, Augusta is all about educating customers and assisting them in protecting their nest eggs through precious metals. Their commitment to simplicity and transparency makes them a standout in the industry.
Their customer service goes beyond the point of purchase and continues as long as you have an account with them. Augusta’s team includes dedicated specialists for every role, ensuring you receive top-notch assistance every time.
Even NFL legend Joe Montana jumped on the Augusta bandwagon after a meeting with their lead analyst and ended up becoming a paid corporate ambassador.
To join the Augusta family with a gold IRA, you’ll need a minimum deposit of $50,000. Keep in mind, if you want to allocate 10% to precious metals, you’d need a minimum of $500,000 in total wealth. Augusta charges a modest $100 annual custodian fee and provides commission-free pricing quotes. They also cover shipping costs and liability insurance until you close your account.
Getting to Know Augusta Precious Metals
Founded in sunny Beverly Hills, California in 2012, Augusta Precious Metals is a recognized dealer in the precious metals arena. They operate in line with PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) coin-grading standards. With Isaac Nuriani at the helm and a team of 45 dedicated employees, they’ve become a force to be reckoned with.
They offer an array of bullion products from the United States Mint and the Royal Canadian Mint, trading metal rounds and bars from various private mints globally. They’ve got exclusive agreements with the British Royal Mint and the Royal Canadian Mint for certain gold and silver coins in North America.
Augusta Precious Metals doesn’t just deal in coins – they’re also committed to giving back to society. They donate a portion of their sales to K9s for Warriors, a fantastic organization that trains service dogs for veterans with PTSD.
Services on Offer
Augusta Precious Metals brings a variety of services to the table:
Gold IRA accounts: Augusta helps you set up self-directed gold IRA investments – these are like a golden ticket to tax-advantaged retirement savings. They can arrange for your precious metals to be managed by a custodian and stored in a secure facility.
Silver IRA accounts: Similar to their gold IRAs, they offer silver IRAs too. Silver might not have the same clout as gold, but it’s seen significant growth in recent years, making it a smart option for growth and wealth preservation.
Non-IRA cash accounts: If you’re more the direct route type, they offer gold and silver non-IRA cash accounts where you can purchase coins and stash them as you like. This option doesn’t offer any tax benefits or depository safety.
IRA arrangements: Augusta can help arrange a custodian and storage services for your precious metals IRAs. They take care of almost 95% of the paperwork and maintain regular communication to keep you updated on your account.
Are They Reliable?
Determining the trustworthiness of a precious metals broker is critical, especially since you’re entrusting them with your valuable assets. Augusta, in particular, holds a significant responsibility as they are responsible for purchasing and securely storing your precious metals until the end of your account.
One of the key strengths of Augusta is their high level of transparency. Unlike other brokers, Augusta lists all their fees and costs and is upfront about their charges. They also provide educational materials on the most common gimmicks and high-pressure tactics used by other dealers in the industry. They have created videos such as “gold dealer lies” and “bad reasons to buy gold” to help educate their customers.
Augusta has a stellar track record with a history of few complaints from the Better Business Bureau (BBB) and the Business Consumer Alliance (BCA). They are accredited by the BBB, and their A+ rating is a testament to their commitment to their customers. Augusta has received positive feedback from their customers, with a 4.97 average rating from BBB users on a 5-star scale, and a perfect 5.0 rating from Consumer Affairs.
The company’s focus on educating their customers is another strong point, with a designated Director of Education, Devlyn Steele, who has a background in Harvard Business School’s graduate analytics program. Steele conducts personal meetings with customers to educate them on the benefits of precious metals and addresses how gold and silver can fit into their portfolios. Augusta regularly provides articles and newsletters to keep their customers informed about their investments and the market.
Augusta is an honest company that prioritizes building long-term relationships with their customers. They are transparent about the risks and rewards of investing in precious metals, and they make sure to warn investors of the market’s ups and downs before making any significant decisions. Overall, Augusta is a trustworthy and reliable precious metals broker to consider.
Augusta Precious Metals Online Reviews and Complaints
Better Business Bureau (BBB): A+ rating with an average of 5/5 from over 100 reviews
Business Consumer Alliance (BCA): AAA rating with an average of 5/5 from nearly 100 reviews
Google: 4.9/5 rating based on 250 reviews
TrustLink: 5/5 rating based on over 275 reviews
Real Customer Reviews
“My experience with Augusta Precious Metals has been excellent!! I was kept up-to-date on each activity throughout the set-up, funding and transfer process. The representatives assisting with my transactions were very knowledgeable, available and helpful. Great customer service!!!” – Murray S rated 5 stars on BBB
“I’m new to precious metals and transferring part of my IRA to a new precious metals IRA was a scary thought. These folks put my mind at ease and made the transaction seamless! I highly recommend Augusta Precious Metals for anyone considering a gold IRA” – Mark of Eldorado, WI on Consumer Affairs
“Professional company to invest with. Conducts webinars regularly and very responsive to your questions. Was a new investor with precious metals and all my questions were answered. Very happy with their service” – Paulette J rated 5 stars on BBB
Rolling over retirement accounts – “I love working with Augusta Precious Metals. I have rolled over several retirement accounts thru them and have found them to be professional, courteous and effecient. They are customer oriented and always follow through. I would highly recommend them” – Ruth F. Gallatin, TN rated 5 stars on Trustlink
Gold IRA Costs, Fees & Minimum Investment Requirements with Augusta Precious Metals
The main aim of a gold IRA is to protect your wealth through precious metals, while potentially increasing its value over time. With a gold IRA, you can take advantage of tax benefits. However, with Augusta Precious Metals, you will incur some fees and expenses.
Augusta Precious Metal Prices
To see the current products and prices offered by Augusta, visit their website. Generally, you can expect a 5% markup on the selling price of precious metals, which can vary by product. Augusta is transparent with their pricing and does not include hidden commission fees.
Augusta Precious Metal Fees
A $50 fee is charged for the custodian application and annual custodian fees are approximately $100, depending on the depository and storage option selected. These fees are within industry standards and Augusta even covers all shipping costs and liability insurance premiums for your precious metals during the duration of your account with them.
Augusta Precious Metal Minimums
The minimum investment for buying precious metals through Augusta is $25,000, but it is taxed. To open a gold IRA, the minimum investment required is $50,000. However, your gains will be tax-advantaged as long as your account stays within the rules. The $50,000 minimum investment requirement is higher than industry standards, but it should be achievable for those who have been saving up for years in a previous retirement account.
Steps to Open a Gold IRA with Augusta
Notify Your Previous Administrator: If you are doing a rollover from another tax-deferred account, you must inform them of your intentions to transfer the funds to Augusta Precious Metals. This can include other IRA accounts, 401(k) plans, or 403(b) plans. Decide the amount you want to invest in your gold IRA.
Open an Account with Augusta: Contact Augusta Precious Metals to set up your account. They will handle most of the gold IRA setup and paperwork, but you will need to sign some documents.
Choose Your Transfer Method: You can opt for a direct transfer, which is easier and safer, or an indirect transfer where the funds pass through you. Ensure the transfer happens within the IRS’s 60-day limit to avoid taxes, fees, and penalties.
Explore Your Options: Learn about the available options for investing in gold and silver products from Augusta and understand the pros and cons of each.
Pick Your Precious Metals: Choose which precious metal products you want to invest in, as well as the amount of each. You can invest in gold, silver, or a combination.
Select Your Custodian: Augusta Precious Metals partners with several custodians across the country. Choose the one you feel the most comfortable with.
Decide on Segregated Storage: Some depositories offer the option of segregated storage, which keeps your metals separate from others for an extra fee.
Pay the Fees: If not waived, you will need to pay various fees, including an application fee, procurement fee to Augusta, and starting custodian fees.
Wait, Observe, and Grow: Once your precious metals are in place, you can wait and observe their growth in value. However, keep in mind that the market fluctuates and there may be dips as well as rises.
Cash Out: When the time comes to liquidate your gold IRA, you can request physical delivery of your precious metals or sell them for cash.
Joe Montana - Celebrity Endorsement
Joe Montana is the celebrity endorsement for Augusta Precious Metals. As a satisfied customer of the company, he has positive things to say about their service. He chose Augusta based on a recommendation from his financial advisors and was impressed with the company’s mission to empower retirement savers, leading him to become a paid ambassador for them.
With a trusted personality like Joe Montana endorsing Augusta, you can feel confident in protecting your wealth with them.
Final Thoughts on Augusta Precious Metals
When planning for your golden years, it’s crucial not just to protect and grow your wealth but also to understand the economic landscape and how different assets fit into it.
That’s where Augusta Precious Metals comes in. Their commitment to transparency, customer-focused services, and educational resources have earned them a well-deserved reputation. Their customer service is top-notch, and they simplify operations with dedicated teams for account management and education.
If transparency, trustworthiness, and access to educational resources are important to you, Augusta Precious Metals might just be the perfect choice for your gold IRA rollover and overall portfolio diversification.
Frequently Asked Questions (FAQ)
Is Augusta Precious Metals Legit?
Yes, Augusta Precious Metals is Legit
Is Augusta Precious Metals a Scam?
No, Augusta Precious Metals is not a scam.
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