If you are looking for physical gold and silver products, one company that you must consider is Augusta Precious Metals. Protecting your wealth through the use of a precious metals custodian isn’t as difficult as it sounds, especially when you work with a top tier, full-service provider. I have been analyzing companies offering gold ira services since 2012, and I’d like to tell you why Augusta Precious Metals is a very unique organization that MUST be considered.
Retirement savers of all ages can learn the many benefits of investing in gold and silver, as well as other services, by simply speaking to the highly professional team at Augusta. Let’s get down to what makes them a powerhouse in this highly competitive space.
An Overview of Augusta Precious Metals
Augusta Precious Metals has been in operation since 2012 as a dealer and a storage facility for precious metals. The Beverly Hills, California, based company is made up of precious metal experts that have access to premium storage facilities.
I filled out a form on their website and requested information, only to promptly hear from the the company right away. The knowledgeable, helpful staff made me feel like I was talking to a life long friend about how I could invest in precious metals and store them either at my home in a safe, or at their secure facilities.
According to the company, their main objective is to create a platform that makes it easy for everyone to buy. Currently, you can buy precious metals cash or as part of your gold IRA investment (or both). It would be great if you saved for your retirement as you continue to invest money for a few years to come.
Augusta Precious Metals has received numerous reviews. I wrote this guide to bring to light Augusta Precious Metals pros & cons.
Augusta Precious Metals Commitments
The company commits to:
1. Total Transparency – Everything you need to know about the company, the precious metals you buy, and the buying and selling process is on the company’s website. You can reach out to the company for support whenever you have any questions.
2. Simplicity – Buying gold and silver from Augusta is as easy as ordering pizza from your favorite restaurant. The company helps you preselect products and do most of the legwork for you.
3. Knowledge and Expertise – Augusta has a team of experts to teach you everything you need to know about precious metals before you start building your portfolio.
Who Can Benefit from Augusta Precious Metals Investing?
Augusta is a gold IRA company that helps those in the workforce save for retirement. It is an ideal platform if you want your savings to grow as the price of precious metals rise. However, if you are just looking to diversify your investment portfolio outside your IRA, the company will still sell your precious metals at competitive prices.
Precious Metal Perks You Enjoy With Augusta Precious Metals
There are always good offers at Augusta that help make your investment worth your money. These perks came in handy when I was starting to invest in gold. If you are new, watch out for the following perks:
• 7-Day Window to Revise Prices – It takes about a week to buy precious metals from Augusta. Within that time, the price could have dropped significantly. Augusta offers you a chance to revise the price to buy precious metals at the lowest prevailing price within seven days so you never lose your money.
• Receive Your Metals Within 10 Days – After Augusta confirms your order, they ship your precious metals within 10 days. You might be holding your gold coins after a week.
• Money-Back Guarantee – This is an offer for first-time precious metal buyers. You will get a refund from the purchase of premium coins without any reason. You must initiate the refund process within seven days after a confirmed purchase.
• Free Silver – The free silver offers might change, but Augusta Precious Metals always has free silver offers that might help offset your account fees. The company uses this as a way to make it easy for you manage your account. Ask for the existing free silver offers.
• Sell your Metals with Augusta – If you need cash from your stored precious metals today, Augusta can withdraw your metals and wire cash to you.
Augusta Precious Metals Management
One thing that sets Augusta apart is the management and team of precious metal experts. Below are some of the experts on their management team.
Chief Executive Officer (CEO) – Isaac Nuriani
Nuriani has always been at the forefront in helping seniors plan for their retirement. When the banks and Wall Street posed a threat to retirement plans, Nuriani took the initiative to educate the public on ways to secure their future.
He is not only the CEO, but also the founder of Augusta Precious Metals. The idea behind Augusta was to offer retirement savers with a platform to safeguard their future. Although Augusta was an addition to many similar companies, he wanted a company run on transparency and ethics.
For many years before starting Augusta, Nuriani was a gold and silver IRA advocate where he helped so many savers diversify their investments and avoid loss of money through investments that never pay back. He is a member of ICTA (Industry Council for Tangible Assets), which is the watchdog for coins, currency, and precious metal communities.
Nuriani has a bachelor’s degree in Economics from the University of California. That, and the fact that he was brought up in a family of precious metal dealers, make him fit to run Augusta.
- This information is all verified with LinkedIN.
Chief Financial Officer (CFO) – Howard Smith
Before joining Augusta, Howard Smith worded for at least 20 years in the capital markets and banking sector. He joined the management team at Augusta in 2018 to help Americans save for retirement and preserve their wealth.
Having worked in the capital markets, he comes to Augusta with vast experience in risk management. He also brings to the management his strictness on transparency and personal ethics. A certified public accountant, Howard has a degree in finance and economics from the University of Toronto.
Senior Economic Analyst (SEA) – Devlyn Steele
Over his years working in the finance industry, Steele has processed more than $2 billion worth of assets. At Augusta, he leads a team of highly qualified professionals dedicated to teaching investors everything about investing in precious metals and safeguarding their retirement. He brings with him knowledge as a member of the Harvard Business School Analytics Program.
How Easy Is It To Start Investing with Augusta Precious Metals?
It is easy to open an Augusta Precious Metals IRA in three easy steps. Through the whole process, a representative from Augusta will guide you. With the help of the representative, you will make the appropriate choice for your retirement account. You can choose between different coin weights as minted by the U.S. Treasury Department. The company also allows select gold and silver bullion. You can start investing in these steps:
• Open an IRA
• Fund your account
• Purchase gold or silver
Augusta recommends an IRA account with Goldstar Trust, Equity Trust, (full disclosure – Equity Trust is who I use for my own self-directed IRA account.) and Kingdom Trust, thanks to the transparency and integrity of their accounts. You can easily fund your account through a bank transfer. Besides buying gold and silver bullion, bars, and rounds in different weights, Augusta also sells certified coins, commemorative coins, and collector sets.
How Safe is the Augusta Precious Metals Storage?
You do not have to store precious metals in a safe in your home when you can store them in a secure fully-insured facility. Augusta has seven secure facilities in the United States and Canada. After you finalize your purchase, the precious metals will be at the storage facility in 10 days.
Storage Facility Locations
• Los Angeles, California
• Jackson, Ohio
• Salt Lake City, Utah
• Wilmington, Delaware
• New Castle, Delaware
• Mississauga, Ontario, Canada
• Springfield Gardens, New York
How Secure are the Storage Facilities?
I prefer to have my metals at the Augusta Precious Metals facilities instead of the hassles of keeping the metals in my house. The facilities use class 3 security vaults with cutting-edge security systems in a building fortified with steel. Only few people have access to the facilities and to the inventory controls for accountability. The facilities are the industry standard for precious metals and they follow all the set regulations to ensure that your investments are safe. Furthermore, the company insures the metals up to $1 billion in case of any loss or theft. Even facility creditors do not have access to the storage.
You can arrange to visit the facilities to see and touch your investments. Each of the facilities is privately owned and Augusta is just a client so your money is always safe while the vault as someone else is liable for loss or damage. The company works with Brinks Global Services and International Depository Services (IDS); two recognized depository services that keep your investments secure at all times.
With the advanced security and the limited access of the vaults, there is no need to store your precious metals at home. However, if you choose to have your future in your safe, Augusta ships the metals to you. Although the company claims to never have lost a shipment, they have a policy to refund any metal lost during shipping. The Buyback Program at Augusta means you can sell your precious metals at any time. The company will give you competitive prices for your metals any time you want to sell.
Augusta Precious Metals Fees
The price of precious metals fluctuates depending on many factors. Before you make your investment decision, contact Augusta to know the price. Augusta only allows investments of at least $5,000, and from there, you can invest as much as you can afford.
With Augusta Precious Metals, you only pay the quoted price with no commission fees or any other hidden charges.
Besides the purchase price, you will pay annual custodial fees for storage (which is the industry standard). However, you will not pay for investment management. Before you start your investment, talk about the fees with a representative from Augusta.
You can buy precious metals outside an IRA and pay with a personal check, credit card, or bank wire. For credit cards, you can only transact $5,000 at one time.
When you buy from Augusta, what products will you be buying? Augusta offers IRA-approved bullion coins and bars in gold and silver. For these two precious metals, there is a full range of products in different weights to match your investment goals. The wide range of products in these two precious metals covers for the lack of platinum and palladium.
If you are a coin collector, the company offers you a wide range of coins in gold and silver. All the coins come certified by independent grading companies PCGS and NGC.
Augusta Precious Metals Reviews, Rating and Complaints
Augusta Precious Metals has performed excellently since its inception in 2012. The internet is awash with reviews, rating and complaints of Augusta Precious Metals. There are only a few complaints with most of what appears online being people reviewing the good side of the company. These can be seen on consumer reporting and rating agencies such as BCA and BBB. Below are some of the ratings:
• AAA rating on BCA
• Zero complaints on BCA
• A+ rating on BBB
• Zero Complaints on BBB
• 5-star rating on Yelp
• 5-star rating on TrustLink
• A 4.3-star rating on Facebook
From the ratings above, you can tell that this company gets a lot of praise and works hard to satisfy every customer. Most customers review the business on TrustLink, BBB, and Facebook where they leave positive statements about the company and its services. You can search the business today and see what customers have to say.
Joe Montana Invested With Augusta Precious Metals
Legendary quarterback Joe Montana, who needs no introduction to anyone who follows the National Football League, set his advisors out to find the best gold provider in the US. His advisors landed on this company, and he even went on to detail his experience and leave us with this powerful quote.
I wanted to explore Augusta Precious Metals as a gold and silver provider myself, so I attended a unique one-on-one web conference with their lead analyst, Devlyn Steele. It’s called the Augusta Profit & Protection Web Conference. It helps educate you on market conditions and gold/silver options and explains how this knowledge can empower you with a self-directed IRA.
He went on to add:
If you’re seriously interested in learning more, you should ask these guys about a one-on-one conference with the analytics team – so you can learn what I learned. I, for one, am really glad I did.
Additionally, here’s a video that he shot about his experience:
Visiting a Depository
You can book an appointment to visit a depository any time you want. You can choose to visit a depository near your residence or far from your residence. At the depository, you will have easy access to your coins and you will also enjoy the help of Augusta experts. If the metals are unsegregated, you can arrange to see them in the state you purchased them. You can also choose to withdraw the metals and bring them back home. Ensure that you have a strong safe to keep the metals protected at home.
Note that, early withdrawal of the metals from your IRA might lead to taxes and penalties unless you choose to roll them over to a qualified account. You need to talk to your tax and investment adviser before withdrawal. If you bought the metals in cash, and not through the IRA, you can withdraw them without any extra charges.
Are Augusta Metals Fit for your IRA Account?
IRS allows several metals for your IRS account. For the gold option, you can stock:
• American Eagles, American Eagle Proofs
• Austrian Wiener Philharmonikas
• Vienna Philharmonics
• Australian Kangaroos and Nuggets
• American Buffalos (no proof coins)
• Credit and Pamp Suisse Bars
• Canadian Maple Leafs
• Rounds and bars
• Australian Koalas
• Canadian Maple Leafs
• American Eagles, American Eagle Proofs
• Rounds and Bars
Augusta offers most of these options. You can always talk to a representative before buying the precious metals just to be sure of the investment you are making.
Augusta Metals Return Policy
Once you make an order, it takes between 5 and 10 days to receive the metals you buy at Augusta. The speed of processing will depend on how fast you transfer the funds.
The return policy only favors first-time buyers who can cancel their order within seven calendar days with or without reason. However, if you have bought precious metals from the company at least once, the order you make is final and you can never cancel. Unless the laws of your state say otherwise, your bullion and semi-premium orders are final once you initiate the purchase. It is, therefore, important that you be careful with any purchases and talk to a representative before you make any purchases.
How is Augusta Precious Metals Shipping?
Augusta does not ship precious metals internationally. For IRA accounts, the company can only ship products in the United States. The only shipping they do outside the country is to their depository in Mississauga, Ontario, Canada.
The precious stones ship in airtight contained well-wrapped to ensure that no one can see what they are. Their shipping box is not special in a way that anyone would realize that they are shipping gold. This keeps the packages secure from their depository to your house. Once the package is in your hands, it is your responsibility to keep it safe.
Small packages ship via the USPS Express Mail, Federal Express, or Registered Insured. All these are safe shipping options for your metals (plus no one knows what is in the package). If you make a huge withdrawal, the company ships your goods through Brinks Armored.
It takes between 7 and 10 days between the time Augusta confirms your order and the time you receive your precious metal. Every order is fully insured and any loss during shipping is not your responsibility. After you receive the order, you need to sign to show that you have received it.
Augusta’s Online Community and Support
One of the areas that Augusta excels is in support. You can access all the details you need about investing in precious metals or talk to an expert about your investments on the Augusta website.
In 2017, the company launched a new website to offer better services and support to customers. The new website is easy to navigate, comes with better graphics and they have quality content to get you up to date with all the information on precious metals purchases.
On the homepage, you can see badges from brands such as Fox News, CNBC, Forbes, and WSJ. These badges are proof that the company is credible and there are strong brands behind its work. Once you are in the website, you will find the tabs easy to navigate with a free IRA investment guide on the top right corner of the homepage. You can learn more from the guide – download it today.
The Resources and FAQs are ideal places to learn more about the company and IRA investments. In the resources include what you need to get started including a required minimum distribution calculator, detailed information on how to buy silver, a blog with updates every week, a list of IRA-eligible coins, and so much more. On the FAQ section, you will learn more about shipping and how the company operates.
You can learn more about the company and how it operates by visiting the About Us Page where you will see the management and a word from the CEO.
You can also call 800-700-1008 today and ask to speak to representative if you have any question. The few times I have called the number, the representatives have been very helpful.
Augusta Precious Metals Pros & Cons
The Augusta Precious Metals fees might be one of the reasons I love the company, but there are more. Besides the standard annual storage fees, you do not have to lose your money in so many fees. Below are the pros and cons of Augusta:
1. Education and Customer Support
Augusta Precious Metals has a team of experts who will help customers make the right decision when it comes to shopping for precious metals. The education section on their website has five detailed articles that prepare you on topics such as inflation, effective diversification, protective, and the advantages of investing in precious metals. They also have a risk disclosure page so you know what you are getting into before you make an investment. You can also view current news in the precious metals markets and the current prices. For most of the precious metals on Augusta, you will pay a relatively low price.
2. Safe Storage with Buyback Program
Augusta works with Brinks Global Services and International Depository Service to ensure that your precious metals are safe at all times. You can visit the depository and see or withdraw your metals – just make an appointment. The main advantage, however, is that you can sell your precious metals to Augusta and they will give you the best prices in the industry.
3. Wide range of investment products
You can buy gold and silver bullions coins and bars in different weights. There are also so many coins available for the avid coin collector.
4. Metal fees
Although you can only invest a minimum of $5,000 at any one time, Augusta offers competitive process for its metals. You can shop around and compare the prices you get at Augusta and what you get everywhere else. Whether you are buying or selling, the company offers competitive prices with no hidden fees.
5. Family-owned and run business
Before starting Augusta Precious Metals, Isaac Nuriani worked with his family in dealing in precious metals. Most of his family members have dealt precious metals for decades and Nuriani only came to join the team. Being a family-run business, you can expect a personal touch and more hand-holding than you would expect with any other business. The team of experts works with you through the buying and selling process so you are sure of what you are getting into. There are less scandals in the business and less complaints online.
6. You can talk to a representative through the whole buying or selling process.
1. You need a minimum of $5,000 to start investing with Augusta Precious Metals. Although I never saw this as a disadvantage, I have come across so many people online who would have loved to have that amount lowered to accommodate even those who need to start with a small investment as their cash flow allows. If you have that kind of money, this should not be a hindrance.
2. They don’t offer platinum and palladium precious metals. This isn’t the end of the world, as they aren’t as popular as gold and silver, but it’s worth pointing out. Although there is a wide range of gold and silver investment options, you will not be able to take advantage of price fluctuations in platinum and palladium. The company does not make an effort to offer these two metals. Since the prices can fluctuate from a result of so many factors, a company that allows you more than two metals can be a nice perk.
Some other websites that have an Augusta Precious Metals review posted talk about the inability to order bullion online being a negative. However, it’s important to point out to those people that there aren’t any companies that offer that service when you are trying to set up a gold or silver ira. It’s a lot of moving parts and that process needs to be directed properly by an expert, rending it impossible. Again, I’ve had this site online since 2012 and have seen many uninformed bloggers come and go, and I’ve been able to keep people informed by posting facts, whether they are good, or bad, for my readers.
Investing in precious metals is advantageous given that these metals are not affected by inflation. You can sock away so much money, but with inflation taking more than 2 percent every year, you will not get much in terms of your investments. Again, savings accounts with banks will give you an average of 0.5 percent, which means you will only get a few cents for every dollar you sock away.
To eliminate that problem of inflation and interest rates that will never help you, you can invest in precious metals. The problem with a gold IRA is that most companies are not transparent. You end up paying so many fees after your gold purchase – this does not happen with Augusta Precious Metals as what you see is what you pay. As a family-run business, the company insists on transparency and personal ethics – two virtues that make it successful.
Check out Augusta Precious Metals today.