Augusta Precious Metals was established in January of 2012 in Beverly Hills, California. Owned by the Nuriani family, the management of the company has a collective experience of 40 years handling precious metals. As of 2022, Augusta manages more than $25 billion in assets.
Here’s a comprehensive review of their products and services so that you can decide if they are a good fit for you to use for the rollover of your existing IRA into a Gold and Silver IRA or even to start a new Precious Metals IRA with Augusta.
An Introduction to Augusta Precious Metals
Augusta Precious Metals offers gold and silver products including precious metals IRA, as well as physical coins and bars. They also offer a very attractive gold buyback program and reliable insurance for precious metals IRA storage.
Augusta Precious Metals Products and Services
Physical Gold and Silver IRA
Augusta’s gold and Silver IRA programs have received high accolades by rating agencies. These include:
- A+ from the Better Business Bureau (BBB)
- A Triple-A rating from the Business Consumer Alliance
- Named Most-Trusted Gold IRA Company by IRA Gold Advisor
Augusta is also a member of the National Ethics Association.
Augusta’s IRA services follow the 1997 Taxpayer Relief Act with regards to gold and Silver IRA purchases to fund IRAs. Augusta will also provide you with self-directed IRA custodians to guide you through the entire process of precious metals IRA. As part of your account with Augusta, you will have a direct line to a professional at any time to answer your questions. This seems to be far superior to other companies which we’ve reviewed who don’t offer a personal custodian to help direct your transition as well as managing your new precious metals investments.
To set up an account with Augusta, you’ll need to follow 3 steps:
- Create a new IRA.
- Fund your Augusta Precious Metals account.
- Buy gold and silver using those funds.
Bullion IRA Services
Augusta’s Bullion IRA services follow purity standards set in the IRS rules. These are, briefly:
- All gold bars and coins have to be 99.5% pure or higher.
- All silver bars and coins have to be 99.9% pure or higher.
There is however, one exception to this rule, which is the American Gold Eagle bullion coin. According to the US Mint, the coin can be bought and used for a precious metals IRA despite not meeting the purity requirement.
Augusta offers several gold coins for its gold IRA. These are coins from Canada, the US, Australia, and even Britain. Some of these coins include:
The American Eagle is the exception to the rule for IRA gold investing. As mentioned above, it has been approved for gold IRA by the US mint even though it’s only 91.67% pure. The coin is available and tradeable all over the world, making it one of the most traded gold coins.
Gold Canadian Eagle
The coin was issued by the Canadian Royal Mint in 2017 as part of a limited minting. It is one of only 7,506 in the world. More recently, the Canadian Mint has begun to produce versions with 99.999% gold. This has made the coin even more valuable.
Australian Striped Marlin
The Australian Striped Marlin is one of the most unique coins that you’ll ever see. Bearing a beautiful marlin in full view, the coin’s purity is 99.99%. The coin’s official value is 25 AUD.
Canadian Maple Leaf
This coin is made of 99.99% pure gold and was first minted in 1979. Due to its purity, the Maple Leaf coin scratches more easily than less pure bullion.
Augusta offers several silver coins for its Silver IRA. These are coins from the US, Canada, Austria, and other nations which are approved for IRAs.
Canadian Silver Eagle with Nest
Containing 99.99% silver, the coin has a value of 8 CAD and was first minted in 2019. The coin features the distinctive bullion finish of brilliant relief on a lined and textured background. It’s made for long term investors and is also considered legal tender. It is also considered a premium coin.
Canadian Silver Soaring Eagle
Made of 99.99% silver, the royal soaring eagle has a face value of 8 CAD. First minted in 2020, the coin has become an instant favorite, and bears the bald eagle on the front. Its design bears precise radial lines and micro engraved lasered maple leaf in the coin’s field. This means that its design is built for security and can’t be easily counterfeited.
Austrian Philharmonic Silver 1oz BU
This coin has been produced by the Austrian Mint since 1989. The Vienna Philharmonic is one of the world’s most popular silver bullion coins. It shows 4 violins, a Vienna horn, as well as a bassoon, cello, and a harp beneath the orchestra name. The back shows the great organ at the Vienna Golden Concert Hall.
American Silver Eagle
Containing 99.93% silver, the Silver Eagle has been minted in America since 1986. The coin has a distinct advantage for investors since its value is guaranteed by the US government.
Premium Gold and Silver
Augusta Precious Metals also trades in premium gold and silver coins approved for IRA. The value of premium coins is not dependent on the amount of the gold or silver they contain.
Their value can fluctuate depending on consumer demand or speculation or even collector demand. This means that you can technically make more money if you buy these coins instead of others if you care to participate in this sort of speculation. Some of us prefer straight gold and silver bullion investments.
Some of these premium coins include:
- 2018 The Rose Crown Guinea
- Mercury Dime
- Commemorative Dollar
- 2016 .25oz British £25 Gold Standard
- 2014 Canadian 1.5oz $8 Silver Arctic Fox
- John F. Kennedy Half Dollar
- Walking Liberty Half Dollar
- Peace Dollar
- Morgan Silver Dollar
- 2022 St. Helena Gold Sovereign
- 2018 Royal Mint 1/4oz Gold Year of the Dog
- Proof Silver American Eagle
Gold and Silver Cash Purchases
Once you do decide to invest in Augusta precious metals, you can buy silver and gold bars and coins as strict cash purchases as well. This means you can take physical possession of gold and silver metals, bars, and coins outside of IRAs. Augusta provides free shipping and transit insurance.
Augusta also offers secure and private delivery of your gold and silver assets to your doorstep. Even the driver has no clue what’s in the box.
Gold Buy Back Program
Augusta Precious Metals also offers a premium gold buyback program. Due to their fair pricing program, they’ll always be sure to give you the right market price for your bullion. That being said, there is some fine print buried in their FAQ section which doesn’t guarantee buy back:
“However, Augusta does not guarantee that it will purchase metals you own or repurchase metals it sells.”
It’s better for you to err on the side of caution on this one but with the market in flux as it is currently it makes sense to have disclaimers since in reality we have no idea what the future of money or currency actually will be even in a years’ time from now.
What are the Pros and Cons of Investing in Augusta Precious Metals?
Pros of Investing in Augusta Precious Metals
State of the Art Security and Insurance for Your Deposits
Should you invest in Augusta precious metals, your bullion will be secure. All your deposits are secured and insured by Augusta using their premium depository services. In their FAQ section, they recommend the Delaware Depository which offers state of the art security. The facility also offers insurance of up to $1 billion for losses incurred.
Guided Assistance for Account Setup
Augusta Precious Metals offers a guided account setup process for you. However, if you check competing precious metals IRA services like Birch Gold and Noble Gold, etc. they offer similar services. So, while this is a pro, it’s not exactly unique however the Augusta personal custodian for your account does appear to be on a higher echelon of service.
Rollover from an Existing IRA/401(k)
Augusta offers roll overs from traditional IRA, Roth IRA, 401(k) or 403(b) for gold and Silver IRA. This is, again, a pretty standard offering for precious metals IRA services across the board.
High Transparency and Fair Pricing
Investopedia has rated Augusta as the most transparent precious metals IRA business in the US. They’ve built a solid reputation with their customers and are regarded as above board and fair in the market.
Augusta also has several reliability ratings like a 5-Star rating on TrustLink.
Augusta explicitly offers lifetime support to its customers. This involves not only the investments you’re going to make, but all the ins and outs of the precious metals market. You can also question them for IRA processing about paperwork, fees, and processing steps.
That being said, this is not a unique feature. Goldco, Regal Assets and Noble Gold all offer lifetime support but again the Augusta personal custodian touches upon their higher level of service.
New Customers get a 100% Money Back Guarantee
You will get a fair priced offering with 7-day price protection when you make your first purchase.
Cons of Investing in Augusta Precious Metals
Higher Fees than the Competition
Augusta Precious Metals claims to offer low fees for maintenance and storage, however the competition says otherwise. Noble Gold and Goldco offers free account setup, and Noble Gold and Birch Bold offer lower maintenance fees.
|Augusta Precious Metals||Noble Gold||Birch Gold||Regal Assets||Goldco|
|Account Opening Fee||$50||Free||$50||Free||$50|
|Annual Custodian Maintenance Fee||$100||$80||$80||$240-$360||$80|
|Annual Storage Fee||$100||$150||$100||$125||$150|
While Augusta doesn’t offer particularly high fees for their IRA programs, they don’t exactly offer the lowest either however all in fees the $50 account opening fee seems worth it for the lower overall fees ongoing given the level of service Augusta offers.
The Minimum Deposit is $50,000
The minimum purchasing price for all cash and IRA purchases at Augusta is $50,000. While there is no limit to a maximum order, the minimum is set in stone for all types of purchases.
|Augusta Precious Metals||Birch Gold||Goldco||Regal Assets||Noble Gold|
|Metals Available||Gold and Silver||Gold, Silver, Palladium, Platinum||Gold and Silver||Gold, Silver, Palladium, Platinum||Gold and Silver|
|IRA Guidance Professionals||Yes||Yes||Yes||Yes||Yes|
|Best For Which Investor Class?||Upper Middle Class/Business Class||Working Class/Middle Class||Upper Middle Class/Business Class||Working Class/Middle Class||Upper Middle Class/Business Class|
This is much higher than competing precious metals IRA investment companies. For example, Birch Gold offers a minimum entry investment of $10,000.
This high entry minimum is meant to cater to elite customers who can afford to invest large amounts. While this doesn’t necessarily close off Augusta Precious Metals to smaller investors, it does provide a significant hurdle if you aren’t in this class of investor.
No Platinum or Palladium Products
Augusta’s lack of palladium and platinum investment options is a huge drawback for those that want to diversify investments. It represents a myopic investment mindset which favors the old guard.
Gold and silver have been the most lucrative precious metals investments for thousands of years. Yet, the value of palladium and platinum has grown in the 21st century due to their use in the electronics industry and new technologies however gold and silver are still poised to be the primary precious metals of the future and it’s highly unlikely that there will be any change in this position.
No Online Purchases
Unlike some of its market competitors like Goldco and Patriot Gold Group, Augusta doesn’t offer online purchases. This may be a turn off for customers who are getting accustomed to making nearly all their purchases online.
Augusta Precious Metals is an extremely reliable gold and Silver IRA investments company, if not the most unique. You can find many of the same features and products at competing precious metals IRA companies albeit not with the level of service that Augusta delivers.
Its trustworthiness ratings and transparent fee structure is why it is rated so highly among the competition. The company’s premium gold and silver products, and reliable insurance policies make it a reliable investment.
That being said, its services are neither wholly unique or measurably better than the competition. Several companies offer the same services at slightly lower or comparable rates but in reality these competitors don’t offer much savings assuming you have the investment capital to qualify for the level that Augusta has to offer.
The high purchase minimum of $50,000 maybe a sticking point for you if you want to start small.
If you have a more sizable savings that you are looking to protect with a precious metals investment or Gold IRA rollover Augusta Precious Metals may be perfect for you. On the other hand if your investment portfolio is not large enough for their minimums you may be better off with Noble Gold or one of the other Gold IRA companies we’ve reviewed.