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Precious metals are the textbook definition of “safe haven” assets that “shine” even during turbulent times. Although everyone agrees commodities like gold and silver have value, it can be a pain to store these assets in your home. Thankfully, some services help people get price exposure to precious metals without worrying about the space and security risks of literally holding them.
For instance, Augusta Precious Metals has been helping clients buy, store, and sell gold and silver for over a decade. In addition to selling gold and silver coins, this California company can help you use your retirement money to invest in precious metals. If you’re considering diversifying your IRA with gold and silver, Augusta Precious Metals may suit your investment goals.
Bottom Line: Augusta Precious Metals is a precious metals IRA provider based in Beverly Hills, CA. They are one of the most trusted gold and silver dealers in America and provides lifetime customer support to its clients.
What is Augusta Precious Metals?
Augusta Precious Metals is a California-based company that sells gold and silver to American clients. Isaac Nuriani created Augusta Precious Metals in 2012 and still serves as the company’s CEO. Over the years, celebrities like Mark Levin and Joe Montana have put their reputations on the line supporting Augusta Precious Metals’ services.
In addition to selling and shipping gold and silver coins and bullions, Augusta Precious Metals offers self-directed Physical Gold and Silver IRAs to clients who want to put these metals in their retirement accounts. Similar to other precious metals IRA providers, clients can rollover a pre-existing IRA account into an Augusta Precious Metals IRA to purchase high-quality gold and silver items.
How Does Augusta Precious Metals Work?
Augusta Precious Metals helps customers use their IRA accounts to purchase physical gold or silver for retirement. To ensure compliance and security, Augusta Precious Metals abides by the IRS’s laws for precious metal storage, and it only works with reputable depositories and custodians (namely Equity Trust and Delaware Depository). Augusta Precious Metals’ team takes care of all the shipping and storage of your precious metals, and they will send you either cash or your physical metals when you request them.
Opening an Augusta Precious Metals account works similarly to setting up other self-directed IRAs. All you have to do is call Augusta Precious Metals to start the rollover process. Once Augusta Precious Metals receives your IRA funds, you can start investing in gold or silver up to your yearly IRS-approved maximum limit. You will enjoy the same tax benefits—and incur the same penalties—as with your standard IRA account. The only difference is that you’ll use your Augusta Precious Metals IRA funds to invest in either physical gold or silver.
You need $50,000 in your IRA to open an account with Augusta Precious Metals. After this initial deposit, you can contribute to your Augusta Precious Metals IRA with as much as your IRA type allows (e.g., $6,000 per year for a traditional IRA).
According to Augusta Precious Metals’ FAQ page, most people rollover one of the following retirement accounts into a Gold & Silver IRA:
- Traditional IRA
- Roth IRA
If you have specific questions about other retirement accounts, you’ll need to speak with an Augusta Precious Metals agent to see if it qualifies for this program.
Although you can set up a Gold & Silver IRA directly on Augusta Precious Metals’ site, the company places great emphasis on its exceptional education and customer service standards. So, the best way to start opening an IRA account with Augusta Precious Metals is to work with a customer care representative over the phone. If you have any questions about making an investment with Augusta Precious Metals, consider calling (855) 560-3363 for a toll-free consultation. On this call, you should get all the info you need to set up an IRA account that fits your personal needs.
Opening an Account
As mentioned above, Augusta Precious Metals wants clients to call (855) 560-3363 to set up an account. While you could call this number today to open a Gold & Silver IRA, there are a few extra steps that may help you make your IRA decision:
- Request Free Gold IRA info packet: First, sign up on Augusta Precious Metals’ website to request a free Gold and Silver IRA info packet. Augusta Precious Metals also publishes dozens of educational articles on its website for prospective clients. Read through all of this material before moving on to the next step.
- Schedule A One-On-One Web Conference: In addition to free educational content, Augusta Precious Metals allows anyone to schedule a no-obligation online meeting with a Gold IRA specialist. During your Zoom call, you can ask Augusta Precious Metals any questions or concerns about applying for this retirement fund.
- Call Augusta Precious Metals To Set Up An IRA Account: If you want to move forward with an Augusta Precious Metals Gold & Silver IRA, the next best step is to call the company at (855) 560-3363 for personalized guidance. On your call with a toll-free agent, Augusta Precious Metals will help you figure out the required paperwork to rollover a pre-existing IRA into the Gold IRA program.
- Rollover Your IRA To Fund Your Account: Augusta Precious Metals has an online portal where new clients can find all necessary application paperwork in a convenient PDF format. Take your time filling out each of these documents, and call Augusta Precious Metals if you have any difficulties with the sign-up process.
- Buy Gold or Silver: Once your IRA rollover clears, you can purchase any IRS-approved gold or silver products offered on Augusta Precious Metals’ website. Simply call a toll-free agent anytime you’d like to make a purchase. The only requirement is that you stay within your IRA’s maximum yearly contribution.
Augusta Precious Metals Features
All of Augusta Precious Metals’ features have one goal in mind: To help investors add gold or silver to their portfolios. However, even if you’re not interested in buying bullion or opening a self-directed IRA, this company has many free educational resources investors can take advantage of.
|Fees||$50 (setup fee), $100/year (custodian fee), $100/year (storage fee) *other fees may apply|
|Account Types||Traditional IRA, Roth IRA, 401(k), and 403(b)|
|Offerings||Gold and Silver|
|Better Business Bureau||A+ Rating|
|Business Consumer Alliance||AAA Rating|
|Promotion||Up to 10 years’ worth of fees reimbursed to your IRA in premium silver coins (*on Qualifying Purchases)|
|Physical Precious Metals Ownership|
|Free Info Kit|
|Support||Contact Form and Telephone: (855-560-3363)|
IRA-Approved Gold & Silver IRA
A major reason people get interested in Augusta Precious Metals is to add gold and silver to their retirement account. Currently, Augusta Precious Metals offers a self-directed Gold & Silver IRA for Americans interested in buying IRS-compliant physical gold and silver.
Clients can rollover a pre-existing IRA into Augusta Precious Metals’ program provided they have a minimum initial deposit of $50,000. The Gold & Silver IRA works the same as your standard IRA account (i.e., the same yearly contribution maximums, early withdrawal penalties, and tax benefits), except you get to buy gold and silver from Augusta Precious Metals’ catalog. Augusta Precious Metals works with Equity Trust and Delaware Depository to safeguard your precious metals until you’re ready to redeem them.
Some of the gold and silver coins available for IRAs include:
- American Eagles
- American Eagle Proof
- Canadian Maple Leaf
- Gold Canadian Eagle
- American Buffalo
- Australian Striped Marlin
- Canadian Silver Soaring Eagle
- Canadian Silver Eagle With Nest
- American Silver Eagle
- Canadian Silver Maple Leaf
Direct Purchase of Gold and Silver
You don’t have to use your retirement money to buy gold or silver from Augusta Precious Metals’ website. If you see gold or silver bullion in Augusta Precious Metals’ catalog that you want in your portfolio, you can buy them directly from the company. Just keep in mind that Augusta Precious Metals has a minimum purchase amount of $50,000. On the positive side, Augusta Precious Metals will cover all transit and insurance costs.
Some of the gold and silver bullion available for purchase include:
- Gold Bar (10 oz)
- Gold Bar (1 oz)
- Silver Bar (100 oz)
- Silver Bar (10 oz)
- Silver 90% Bag — $1,000 Face Value
- Silver 90% Bag — $500 Face Value
- Silver 90% Bag — $250 Face Value
- Silver 90% Bag — $100 Face Value
Direct Purchase of Gold and Silver Coins
Like their gold and silver bullion collections, Augusta Precious Metals allow anyone to purchase a minimum of $50,000 worth of premium gold or silver coins. Again, you will enjoy free shipping and insurance if you make this investment through Augusta Precious Metals.
Some of the gold and silver coins available for purchase include:
- Gold American Eagle (1 oz, .5 oz, .25 oz, .10 oz)
- Gold American Buffalo (1 oz)
- South African Gold Krugerrand (1 oz)
- Gold Canadian Maple Leaf (1 oz)
- Austrian Gold Philarmonic (1 oz)
- American Silver Eagle (1 oz)
- Canadian Silver Maple Leaf (1 oz)
- Austrian Philharmonic Silver (1 oz)
- Silver Round (1 oz)
- American The Beautiful (5 oz) — Cumberland Gap
- American The Beautiful (5 oz) — Fort Moultrie
- American The Beautiful (5 oz) — Effigy Mounds
- Canadian Silver 5 Blessings (1 oz)
Gold Storage at IRS-Approved Depository
As mentioned previously, Augusta Precious Metals works with Equity Trust and Delaware Depository to ensure your precious metals are stored in secure and IRS-approved facilities. Augusta Precious Metals also insures every gold and silver product in an IRA holder’s account free of charge. You can choose from one of almost a dozen locations to store your precious metals, and Augusta Precious Metals welcomes clients to schedule an in-person visit to inspect their gold and silver.
Lifetime Professional Support
When you work with Augusta Precious Metals, you’ll benefit from a “lifetime lifeline” to customer service agents. You can call Augusta Precious Metals’ toll-free team at any time to answer questions, set up orders, or discuss investing options. Augusta Precious Metals hires gold and silver experts ready to help you understand your options and discuss risk management strategies considering your situation and the current economic environment.
Precious Metals Buyback Program
Augusta Precious Metals offers to liquidate any gold or silver in your Gold & Silver IRA account once you reach retirement age. If you’d prefer to receive money rather than precious metals, you can speak with an Augusta Precious Metals rep to make this a reality. Just remember that Augusta Precious Metals doesn’t offer a buyback “guarantee.” Although Augusta Precious Metals claims it has never denied a buyback request, it can refuse this service.
Augusta Precious Metals is a firm believer in investor education. The company routinely publishes informative blogs and videos on its website and platforms like YouTube to promote economic literacy. Clients could also request free books on the benefits of gold and silver investing and how self-directed IRAs work. Augusta Precious Metals also has an education department anyone could call to discuss their investments, precious metals, and the state of the economy.
Augusta Precious Metals Fees
Self-directed IRAs typically charge extra fees to invest in non-traditional assets, and Augusta Precious Metals is no exception. Thankfully, the fees in a Gold & Silver IRA plan are transparent and straightforward.
Augusta Precious Metals charges Gold & Silver IRA holders a one-time set-up fee of $50.
Annual IRA Fees
After opening a Gold & Silver IRA account, you must pay your custodian $100 per year for maintenance.
Gold & Silver IRAs have a $100 annual non-government depository storage fee. Therefore, when you add the three fees listed above, you’ll have to pay $250 for your first year and $200 for every other year you own your Gold & Silver IRA account.
Augusta Precious Metals doesn’t charge any additional fees to Gold & Silver IRA holders. You will enjoy free shipping, management, and insurance on your IRA program.
Augusta Precious Metals Security
Augusta Precious Metals spares no expense when it comes to security. Customers who open a Gold & Silver IRA account can rest assured their precious metals are in fortified facilities protected by Equity Trust and Delaware Depository. Augusta Precious Metals also insures all of your gold and silver products for no additional fee.
According to Augusta Precious Metals, you can choose to place your precious metals in secured depositories in any of the following cities:
- Los Angeles, CA
- Salt Lake City, UT
- Nampa, ID
- Las Vegas, NV
- Shiner, TX
- Dallas, TX
- South Fargo, ND
- Wilmington, DE
- Bridgewater, MA
- New Castle, DE
- New York, NY
For full transparency, you can set up a visit to the depository you choose to store your gold and silver. Feel free to contact Augusta Precious Metals directly to schedule an appointment to inspect your precious metals.
Beyond the depository’s physical security, Augusta Precious Metals also protects its users’ gold and silver with a $1 billion all-risk insurance which is provided by Lloyd’s.
Augusta Precious Metals Customer Support
Augusta Precious Metals is an incredibly responsive company. You can always call Augusta Precious Metals agents at (855) 560-3363 for personalized guidance on your account, and the company has a live chat box on its main website. If you’d prefer to chat via email, you can send a message to Augusta Precious Metals on this “Contact Us” page.
Keep in mind that Augusta Precious Metals’ official operating hours are between 6 AM to 5 PM Pacific Standard Time. Also, Augusta Precious Metals advises new customers to call (855) 560-3363 and existing customers to contact (855) 909-0082.
Augusta Precious Metals User Experience
Augusta Precious Metals has stellar ratings on major platforms like ConsumerAffairs, Business Consumer Alliance, Google Reviews, and TrustLink. In fact, on each of these sites, there are hundreds of reviews with average star ratings in the high 4.5 – 4.9-range. Augusta Precious Metals also has a 4.9-star rating on the Better Business Bureau (BBB) and an A+ BBB accreditation.
Reviewers are most impressed by Augusta Precious Metals’ customer service department. Customers claim Augusta Precious Metals goes out of its way to help clients have a smooth and successful investing experience.
While it’s important to take online reviews with a grain of salt, the overwhelmingly positive sentiment speaks in Augusta Precious Metals’ favor. Here’s what a few customers are saying about Augusta Precious Metals’ services:
“The customer service was superb, they explained each part of the process and showed me what was required to set up an IRA account to hold the gold/silver coins. However, the price of the gold/silver coins was quite high compared to the price of gold/silver quoted in the Wall Street Journal.” Tom of Broomfield, Colorado (ConsumerAffairs).
“My experience with Augusta Precious Metals Management group was a very professional process. They answered all my questions and were very friendly and courteous. I would highly recommend them for anyone wanting to invest in a precious metals IRA.” Terry D (BBB).
“I was recommended Augusta by a friend. I was interested in learning more about a precious metals IRA. They set up a zoom meeting and I was provided with a very detailed presentation. Afterwards they answered all of my questions. They were very helpful and knowledgeable.” Sasha D (Business Consumer Alliance).
“Very useful video presentation and no pressure. They make it easy to schedule and connect for the presentation. They addressed all my questions. While I have not yet committed to opening an account, Augusta Precious Metals remains high on my list of companies to consider.” Thomas Mahoney (Google Reviews).
Augusta Precious Metals Pros Explained
- High-quality security and insurance standards: Whenever dealing with valuable items like precious metals, security, and insurance are crucial considerations. Augusta Precious Metals assures customers they only work with highly-rated partners like Equity Trust and Delaware Depository for optimal safety. Plus, Augusta Precious Metals offers insurance protection at no additional charge.
- Access to various precious metals via multiple IRA plans: Augusta Precious Metals has dozens of gold and silver coins and bullion for customers to choose from. Collectors will also find rotating limited-release mints in Augusta Precious Metals’ catalog.
- Responsive & lifetime customer support: Many reviewers of Augusta Precious Metals praise its high-quality customer care division. Augusta Precious Metals makes it easy to speak with a live agent and promises to offer lifetime customer service to all of its clients.
- Free educational resources: Augusta Precious Metals frequently posts articles and videos to inform investors about their options. You can also schedule a free One-On-One Webinar to talk with a precious metals expert about the best investment strategy.
- Long track record of success: Founded in 2012, Augusta Precious Metals has over a decade of experience in the gold and silver industry. The company also has high reviews and accreditations for its products and services.
Augusta Precious Metals Cons Explained
- High minimum deposit for Gold & Silver IRA: One of Augusta Precious Metals’ biggest downsides is its $50,000 minimum deposit. Investors need to feel comfortable putting this amount of money into gold and silver products.
- Only offers gold and silver: Unlike a few competing companies, Augusta Precious Metals doesn’t advertise products outside of gold and silver. For instance, there’s no mention of trading palladium or platinum.
- Only available in the USA: Augusta Precious Metals only works with American clients, even for its direct gold and silver shipments. People living outside the US have to find another precious metals vendor.
- No buyback guarantee: Although Augusta Precious Metals offers to buyback gold and silver, it doesn’t guarantee this service. On Augusta Precious Metals’ “Risk Disclosures“ page, the company states: “Augusta does not guarantee that it will buy back any item that Augusta sells, and Augusta does not guarantee that another retailer will purchase one of Augusta’s premium coins.”
- Only suitable for risk-averse investors: Many people get interested in precious metals because they want to reduce volatility in their portfolios. Traditionally, gold and silver are considered “store of value” investments that offer greater security but lower potential profits. People more interested in higher-risk/higher-reward investment strategies should look elsewhere.
Augusta Precious Metals Alternatives
Augusta Precious Metals isn’t the only company offering a Gold & Silver IRA program. Prospective investors should review Augusta Precious Metals’ rivals to see which company best suits their strategy.
Augusta Precious Metals vs. American Hartford Gold
American Hartford Gold is another California-based company that offers IRS-compliant self-directed Gold IRAs. Unlike Augusta Precious Metals, American Hartford Gold has a lower minimum deposit of $10,000, and it offers customers access to platinum and palladium as well as silver and gold. American Hartford Gold also works with a broader array of depositories and custodians compared with Augusta Precious Metals. In addition to Equity Trust and Delaware Depository, American Hartford Gold lets clients store their gold or silver with Brinks and International Depository Services Group. On the downside, American Hartford Gold tends to charge higher yearly fees for its IRA than Augusta Precious Metals. Read our full American Hartford Gold review to learn more.
Augusta Precious Metals vs. Goldco
In terms of minimum deposit, Goldco is in between Augusta Precious Metals and American Hartford Gold. To open a Gold IRA account with Goldco, you’ll need to transfer at least $25,000 to start purchasing gold, silver, platinum, or palladium. Like American Hartford Gold and Augusta Precious Metals, Goldco works closely with Delaware Depository for its precious metal storage and has comparable annual fees to Augusta Precious Metals. One feature that sets Goldco apart from competitors is its longevity. Goldco has been in operation since 2006, which makes it one of the most respected in its field. Read our full Goldco review to learn more.
|Annual Fees||$200 (waived for the first year)||$175 – $225 (waived for the first year)||Varies depending on custodian|
|Information Kit||Physical Kit||Physical Kit|
|Verdict||Best For Transparency||Best For Low Minimum Purchase||Best For Customer Service|
Who is Augusta Precious Metals Best For?
Augusta Precious Metals is best for conservative investors who want to put a large percentage of their retirement funds into physical gold and silver. Although Augusta Precious Metals offers impeccable customer service standards and attractive fees, it has a high minimum deposit of $50,000. For this reason, anyone who opens a Gold & Silver IRA with Augusta Precious Metals needs to feel certain about storing most of their wealth in physical precious metals. As long as you’re comfortable putting at least $50,000 worth into gold and silver, Augusta Precious Metals has an excellent reputation for its security and customer service standards.
Augusta Precious Metals FAQ
We’ve found some of the most frequently asked questions with regard to Augusta Precious Metals; here are our answers.
Who Owns Augusta Precious Metals?
Is Augusta Precious Metals Trustworthy?
Augusta Precious Metals has a long track record in the gold IRA business with an A+ BBB rating, membership in the National Ethics Association, and hundreds of positive reviews. This company also works with highly reputable custodians and depositories such as Equity Trust and Delaware Depository for its security standards.
Do I Own The Physical Precious Metals in An Augusta Precious Metals IRA Account?
Yes, you own all the physical gold or silver coins or bullion you purchase in your Augusta Precious Metals IRA account. However, you can’t take ownership of these gold and silver products until retirement age.
What Sets Augusta Precious Metals Apart From Its Competitors?
Augusta Precious Metals sets itself apart from competitors with its Lifetime Customer Support guarantee and free educational resources—including a free One-On-One Webinar with a precious metals expert. This company prides itself on offering easy access to customer care agents at every step of an investor’s journey. Although other companies provide high-quality customer service, Augusta Precious Metals guarantees it will support you from start to finish.
Can I See How My Investments Are Performing With Augusta Precious Metals?
Augusta Precious Metals needs to provide detailed info on each IRA holder’s price performance online. Although you can check the spot price of various precious metals, you’ll need to speak with an Augusta Precious Metals employee to figure out your portfolio’s average cost and performance.
Where Does Augusta Precious Metals Store My Precious Metals?
Augusta Precious Metals works with Delaware Depository to store gold and silver in dozens of facilities throughout the USA. According to Augusta Precious Metals’ website, current partner depositories are in the following locations:
● Los Angeles, CA
● Salt Lake City, UT
● Nampa, ID
● Las Vegas, NV
● Shiner, TX
● Dallas, TX
● South Fargo, ND
● Wilmington, DE
● Bridgewater, MA
● New Castle, DE
● New York, NY
Do Contributions On An Augusta Precious Metals Account Work The Same As A Regular IRA Account?
All your contributions on a Gold & Silver IRA work the same as your regular IRA. You are subject to the same max yearly contributions on whichever retirement account you own (e.g., traditional IRA, 401(k), Roth IRA, etc.).
What Are The Tax Advantages Of An Augusta Precious Metals IRA Account?
You enjoy the same tax benefits from your standard IRA account when buying precious metals through a Gold & Silver IRA. For instance, those with a traditional IRA get tax deductions for whatever gold or silver they buy, but they have to pay taxes once they start pulling funds after reaching retirement age.
How Can I Make A Withdrawal From My Augusta Precious Metals Account?
The simplest way to withdraw from your Augusta Precious Metals IRA is to call a representative and either liquidate your holdings or schedule a delivery. Augusta Precious Metals doesn’t guarantee buybacks for gold and silver, but it also says it has never denied a buyback request. If you opt for a gold or silver buyback, Augusta Precious Metals will send you a check in the mail with the cash equivalent for your holdings. By contrast, you could have Augusta Precious Metals send the physical gold or silver in your account to your home address without paying shipping charges.
To help clients understand the fee requirements for IRA redemptions, you can use Augusta Precious Metals’ free calculator. However, it’s best to speak with an Augusta Precious Metals agent to set up these redemptions.
How Does Augusta Precious Metals Make Money?
Like most other precious metals dealers, Augusta Precious Metals makes most of its money by charging a spread on whatever gold or silver it offers. A “spread” is the difference between the current “bid” and “ask” prices on the open market. “Bids” are the highest amount people are willing to buy an asset, while “asks” are the lowest price sellers are OK liquidating their holdings. Augusta Precious Metals charges a slight premium using the standard “bid-ask spread” model to provide its service.
Where Is Augusta Precious Metals Headquarters?
According to Augusta Precious Metals’ website, the company has two main offices: one in Casper, WY, and another in Beverly Hills, CA.
Do I Pay The Shipping On My Augusta Precious Metals IRA?
Augusta Precious Metals waives all shipping charges for people who buy precious metals or redeem their IRA holdings.
How Do I Rollover Funds From Another Account Into An Augusta Precious Metals IRA Account?
Augusta Precious Metals has a tab on its main website called “Open An Account“ that provides the necessary paperwork to start the IRA rollover process. However, it’s best to speak directly with an Augusta Precious Metals agent to figure out the specific details on transferring your current IRA into the Gold & Silver IRA account. Be sure to call (855) 560-3363 for personalized guidance on securely sending the money in your IRA account to Augusta Precious Metals.
In A Nutshell
- Key Highlight: Exclusive lifetime customer support for its clients
- Minimum Investment: $50,000
- Metals Available: Gold and silver bullion and coins
- Ratings: 5.0/5.0 over 200 reviews (TrustLink); 4.9/5.0 over 100 reviews (BBB) and A+ rating with BBB
As long as you don’t mind the high minimum requirement, Augusta Precious Metals is a tried-and-true option for gold and silver investors. People who want gold or silver coins and bullion in their retirement accounts will have an easy time working with Augusta Precious Metals’ personal agents to set up their retirement funding. Even if you’re on the fence about setting up a Gold & Silver IRA, Augusta Precious Metals offers many free educational resources and even a One-On-One Webinar to learn more information. Those interested in Augusta Precious Metals’ services should speak with the company’s IRA experts before deciding whether it’s the right choice for their retirement funds.
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Eric Esposito is a freelance writer, editor, and cryptocurrency enthusiast. Although it took him a few years to grasp the Bitcoin revolution, Eric has become a crypto convert and long-term “hodler.” Besides crypto investing, Eric is interested in helping others understand how to safely stack sats with passive income opportunities.