Augusta Precious Metals Review
The United States Securities and Exchange Commission advises retirement investors to diversify their portfolios to manage risk. Augusta Precious Metals agents work alongside investors who open a tax-advantaged retirement account funded with precious metals, commonly known as a gold IRA. Gold and other precious metals in a traditional IRA offer the same tax-deferred status as other traditional self-directed IRAs. You can also put your gold and silver into a self-directed Roth IRA.
- Lifetime customer support
- Simple setup
- Streamlined approach & competitive bullion pricing
- Must have at least $50,000 in savings
Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.
How to Open an Augusta Precious Metals Gold IRA
Before opening an account with Augusta, customers will receive personal attention in a web conference where they receive important information about the gold IRA process and fees, the economy (including inflation and reasons to buy gold), and the industry, including warnings about high-pressure techniques some gold IRA companies use.
Opening an Augusta Precious Metals IRA involves an easy, three-step process guided entirely by a knowledgeable agent. The Augusta team members assist gold IRA customers with making IRS-approved selections for their retirement account, such as bullion and premium silver and gold coins in various weights. Select gold and silver bullion bars are also permitted.
These are the steps you will follow with the Augusta Precious Metals team:
- Open your self-directed IRA. Augusta recommends their preferred custodian, Equity Trust, because of their high level of integrity, compliance and experience.
- Fund the account with a gold IRA rollover or a transfer from a bank account.
- Purchase eligible gold and silver for your IRA. Your precious metals get stored in a secure and insured facility.
Augusta Precious Metals offers gold and silver bullion coins, rounds and bars in a wide range of weights as well as premium coins. Augusta also sells commemorative coins, certified coins, collector sets and proofs.
Working with Augusta Precious Metals
Both bullion and premium metals’ prices are locked in once you confirm your purchase by phone. If you’re purchasing premium metals, under Augusta’s 7-Day Price Protection Program, if the price goes down in 7 days, the company will reprice your order at the lower price.
Open a gold IRA or make another purchase from Augusta Precious Metals, and you can receive up to 10 years of fees reimbursed to your IRA in premium silver coins. Those who purchase premium gold and silver for the first time have the right to cancel the order within seven days, no questions asked. All subsequent purchases, as well as bullion orders, are final as soon as the order is confirmed.
Augusta Precious Metals Costs
Several factors cause gold prices to fluctuate daily, as with any investment asset, so you’ll need to contact Augusta Precious Metals to get information on current precious metals costs. You must invest at least $50,000 buy gold or silver from Augusta Precious Metals, and there is no maximum investment.
- It costs just $50 to set up a gold IRA with Augusta Precious Metals
- Customers can expect two annual fees: a $100 custodian maintenance fee and a $100 storage fee.
- If you buy gold or silver outside of an IRA, you can pay with a personal check or bank wire.
Augusta Precious Metals Gold IRA Storage
Augusta Precious Metals facilitates sending your gold IRA investments to their preferred secure, non-government storage facility, Delaware Depository. You can also choose from facilities scattered across the United States. Once you finalize your precious metals purchase, it arrives at the facility within seven to 10 days. Your metals will be safe but accessible to you.
|Secure Storage Locations||Facility Security Features||Additional Facility Details|
|– Los Angeles, CA
– Salt Lake City, UT
– Wilmington, DE
– New Castle, DE
– Dallas, TX
– Las Vegas, NV
|– Class 3 security vaults
– Cutting-edge security system
– Fortified building
– Strict access controls
– Strict inventory controls
– Compliant with all regulations
– Insured to $1 billion
– Facility creditors cannot access your investments
– Direct contact with knowledgeable staff
|– Facilities are privately owned and are not associated with Augusta
– Facilities charge storage fees
– usually $100 per year for any amount of precious metals
– Facility visits can be arranged to view, touch or withdraw your investments
(Note: As with any IRA, early withdrawal can result in taxes and penalties.)
Augusta will ship precious metals not held within an IRA to your home or post office box anywhere in the United States. That said, storing gold and silver in your home is not a good idea. The company offers free, fully-insured domestic shipping and has never lost a package in transit.
Augusta Precious Metals Complaints
Augusta Precious Metals is A+ rated and accredited by the Better Business Bureau. The Business Consumer Alliance awards the company the highest rating of AAA for excellence. The company received just one product-related complaint, which have now been resolved. TrustLink gives Augusta a perfect 5 out of 5 stars, including many reviews touting the company’s top-notch service. Customer reviews on Google give the company a score of 4.9/5, Facebook review scores result in 4.8 out of 5 stars, and Consumer Affairs’ rating is 5/5.
To get a peek into Augusta Precious Metal’s internal culture, you can read the many Augusta employee reviews on Glassdoor, which result in a cumulative 4.5 out of 5 stars. Many of these reviews expressed an appreciation for the structure provided in the company and respectful treatment on the job.
Augusta Precious Metals FAQs
What sets Augusta Precious Metals apart from other gold IRA companies?
Augusta Precious Metals builds long-term relationships with customers by providing a personal agent dedicated to each account, a streamlined process supported by five departments, and account lifetime service. The company offers assistance from the first inquiry until the customer takes gold IRA distributions. Augusta Precious Metals also published several educational resources to help customers understand how precious metal investing works. Especially unique is their web conference designed by the company’s on-staff, Harvard-trained economist. Augusta is a member of the National Ethics Association.
How can I check my Augusta Precious Metals gold IRA performance?
You can keep tabs on your account online at any time, and receive quarterly statements showing investment performance.
How can I make a withdrawal from my Augusta Precious Metals gold IRA?
You can take a full or partial distribution from your gold IRA at any time. You may take the physical metals from the storage facility, or Augusta can wire you the cash value of the distribution. To avoid paying taxes and penalties on early withdrawals, take the Required Minimum Distributions (RMDs) beginning at age 70-1/2. Augusta has an RMD Calculator on the website, but you should speak to a qualified tax professional regarding distributions.
Does Augusta Precious Metals charge any gold IRA account management fees?
Since your IRA is self-directed, you’re managing the account, and there are no investment management fees. However, there will be a minimal account setup fee and annual custodial and storage fees associated with a gold IRA.
How much can I earn by investing in an Augusta Precious Metals gold IRA?
While gold and silver have historically performed well, this investment can gain or lose value just like any other. There is no guaranteed return on a gold IRA. However, these investments can be part of a diversified portfolio as a hedge against inflation.
Augusta Precious Metals is an industry leader in gold IRAs, with thousands of ratings and hundreds of 5-star consumer reviews online. The company assists consumers with a unique, one-on-one web conference with useful information about the gold IRA process, the industry, and warnings about potential gold IRA company high-pressure tactics. Augusta Precious Metals agents help customers with friendly service from the time they open a gold IRA through taking retirement distributions.