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Last Updated on February 21, 2024

Investing in precious metals is becoming increasingly popular among investors looking for alternative investment options beyond traditional stocks, bonds, and mutual funds.

Augusta Precious Metals is one of the companies offering this service, and in this review, we will explore what they offer, how to set up a precious metals IRA, where the precious metals are stored, who should consider using Augusta Precious Metals, their BBB rating, and the pros and cons of their services.

What is Augusta Precious Metals?

Augusta Precious Metals
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"I diversified my retirement with precious metals from Augusta. You can count on them."

-Joe Montana, Hall of Fame Quarterback

Augusta Precious Metals is a company that specializes in offering precious metals investment solutions. The company was founded in 2012 and is headquartered in Beverly Hills, California.

Augusta Precious Metals is dedicated to helping investors diversify their portfolios and protect their wealth with precious metals such as gold and silver.

Augusta Precious Metals is different from other precious metals dealers in that it takes a consultative approach to investing. The company’s team of experts takes the time to understand their client’s investment goals, risk tolerance, and investment time horizon.

They then recommend investment strategies that meet their clients’ specific needs.

What Services and Products Do They Offer?

Augusta Precious Metals offers a range of precious metals investment solutions, including gold, silver, platinum, and palladium bullion coins and bars. The company’s team of experts can help investors choose the right precious metals products that meet their investment goals.

Augusta Precious Metals also offers a range of services, including precious metals IRA accounts, investment-grade bullion coins and bars, and retirement account rollovers.

The company’s team of experts can guide clients through the process of setting up a precious metals IRA and choosing the right investment options.

Precious Metals

  • Gold coins and bars: Augusta Precious Metals offers a variety of gold coins and bars from government mints and reputable private mints. Examples include American Gold Eagles, Canadian Gold Maples, and Perth Mint Gold Bars.
  • Silver coins and bars: The company also offers a range of silver coins and bars, including American Silver Eagles, Canadian Silver Maples, and Silver Bars from leading mints such as Johnson Matthey and Engelhard.
  • Platinum and palladium coins and bars: Augusta Precious Metals also offers investment-grade platinum and palladium coins and bars from various sources, including the Canadian Platinum Maple Leaf and the Australian Platinum Koala.

All of the precious metals products offered by Augusta Precious Metals are IRS-approved for inclusion in a precious metals IRA account.

The company’s team of experts can help investors choose the right products for their specific investment goals and risk tolerance.

Precious Metals IRA: How Their Process Works

two men working in customer service

One of the key services offered by Augusta Precious Metals is the precious metals IRA. A precious metals IRA is a self-directed individual retirement account that allows investors to hold physical precious metals in their retirement accounts. Augusta Precious Metals makes it easy for investors to set up a precious metals IRA. The following are the steps to set up a precious metals IRA with Augusta Precious Metals:

  1. Open an IRA account with Augusta Precious Metals: The first step is to open a new IRA account with Augusta Precious Metals. The company offers both traditional and Roth IRA accounts.
  2. Fund the IRA account: Once the IRA account is open, investors can fund it with cash or assets from an existing retirement account.
  3. Choose the precious metals products: Augusta Precious Metals offers a range of precious metals products, including gold, silver, platinum, and palladium bullion coins and bars. Clients can choose the products that meet their investment goals.
  4. Buy the precious metals products: After choosing the precious metals products, clients can buy them using the funds in their IRA accounts.
  5. Store the precious metals: Augusta Precious Metals stores the precious metals in a secure, third-party storage facility. Clients can choose to have their precious metals stored domestically or internationally.

Where are The Precious Metals Stored?

Augusta Precious Metals stores the precious metals in a secure, third-party storage facility. The company has partnered with two leading storage providers: Brinks and Delaware Depository. Both Brinks and Delaware Depository are known for their high levels of security and reliability.

Clients can choose to have their precious metals stored domestically or internationally. Domestic storage is available in the following locations: Delaware, Utah, and Kentucky. International storage is available in Canada, Hong Kong, Singapore, and the Cayman Islands.

Who Should Consider Augusta Precious Metals?

Augusta Precious Metals is a great option for investors who want to diversify their portfolios and protect their wealth with physical precious metals.

The company’s consultative approach makes it easy for investors to understand the benefits of precious metals investing and choose the right investment options that meet their specific investment goals.

Investors who are concerned about economic instability, inflation, and currency devaluation may find precious metals investing particularly appealing.

Precious metals are considered a safe-haven asset that can hold their value during times of economic uncertainty.

Additionally, Augusta Precious Metals may be a good option for investors who are looking for a long-term investment strategy. Precious metals can be a buy-and-hold investment that provides a hedge against inflation and market volatility over time.

However, it’s important to note that investing in precious metals can be volatile and comes with risks. Investors should carefully consider their investment goals, risk tolerance, and investment time horizon before investing in precious metals.

Should You Consider a Gold IRA for Retirement?

Whether or not to consider a precious metals IRA depends on your investment goals, risk tolerance, and overall investment strategy.

Precious metals IRA accounts offer investors an opportunity to diversify their portfolios and protect their wealth with physical precious metals such as gold, silver, platinum, and palladium.

One advantage of investing in a precious metals IRA is that it provides a hedge against inflation and market volatility. Precious metals are considered a safe-haven asset that can hold their value during times of economic uncertainty, making them a potential option for investors concerned about economic instability, inflation, and currency devaluation.

Another advantage of investing in a precious metals IRA is that it provides tax benefits.

Precious metals IRA accounts are self-directed individual retirement accounts that allow investors to hold physical precious metals in their retirement accounts. This means that any gains made from the sale of precious metals within the account can grow tax-free or tax-deferred until they are withdrawn at retirement.

However, it’s important to note that investing in precious metals can be volatile and comes with risks. Precious metals prices can fluctuate based on various factors such as supply and demand, political and economic events, and changes in interest rates. Additionally, fees associated with setting up and maintaining a precious metals IRA account and storage fees for storing precious metals in a third-party facility can be higher than traditional IRA fees.

Ultimately, whether or not to consider a precious metals IRA depends on your individual investment goals and risk tolerance. It may be a suitable option for investors looking to diversify their portfolios and protect their wealth with physical precious metals, but it’s important to carefully consider the risks and potential fees associated with precious metals investing before making any investment decisions.

BBB Rating and Complaints

a snapshot of the BBB rating for Augusta Precious Metals

The Better Business Bureau (BBB) rates Augusta Precious Metals A+ with an average customer rating of 4.7 out of 5 stars based on 56 customer reviews as of the time of writing. The company has also been accredited by the BBB since 2014.

At last check, Augusta Precious Metals has zero complaints reported to the BBB, which is a first that we’ve seen!

Pros and Cons

Like any investment option, there are pros and cons to using Augusta Precious Metals for investing in precious metals. Some of the advantages of Augusta Precious Metals include:

Pros

  • A consultative approach to investing that helps investors choose the right investment options for their specific needs
  • A range of precious metals products, including gold, silver, platinum, and palladium bullion coins and bars
  • Easy set up of precious metals IRA accounts and guidance through the investment process
  • Third-party storage with reputable providers, Brinks and Delaware Depository, to ensure the security of investors’ precious metals
  • A high rating from the Better Business Bureau and ZERO reported complaints

Cons

  • $50,000 minimum investment
  • Precious metals investing can be volatile and comes with risks, including fluctuations in the market and the potential for theft or loss of precious metals
  • Fees associated with setting up and maintaining a precious metals IRA account and storage fees for storing precious metals in a third-party facility
  • Precious metals investing may not be suitable for all investors, particularly those with a short investment time horizon or a low risk tolerance

Summary

Overall, Augusta Precious Metals is a reputable company that offers a range of precious metals investment solutions, including precious metals IRA accounts, investment-grade bullion coins and bars, and retirement account rollovers. The company takes a consultative approach to investing, helping investors choose the right investment options for their specific needs.

Augusta Precious Metals stores investors’ precious metals in secure, third-party facilities, offering both domestic and international storage options. The company has an A+ rating from the Better Business Bureau and a low number of customer complaints.

However, investors should carefully consider the risks and potential fees associated with precious metals investing before choosing to invest with Augusta Precious Metals. Precious metals investing may not be suitable for all investors, particularly those with a short investment time horizon or a low risk tolerance.

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FAQs

  1. Is Augusta Precious Metals a reputable company?

Yes, Augusta Precious Metals is a reputable company with a strong track record in the precious metals industry. They hold an A+ rating from the Better Business Bureau and have received positive reviews from many satisfied customers. Their commitment to transparency, personalized customer service, and educational resources has helped establish them as a trusted provider of precious metal products and services.

  1. Can I purchase precious metals directly from Augusta Precious Metals?

Yes, you can purchase a variety of precious metal products, including gold, silver, platinum, and palladium, directly from Augusta Precious Metals. They offer coins, bars, and rounds for direct delivery to your home or an approved storage facility. However, unlike some competitors, Augusta does not have an e-commerce platform for direct online purchases, so you will need to consult with a representative to complete your transaction.

  1. How do I set up a precious metal IRA with Augusta Precious Metals?

To set up a precious metal IRA with Augusta, you will need to consult with one of their representatives to discuss your investment goals and select a custodian to administer your self-directed IRA. Once you have completed the necessary paperwork and funded your account, Augusta’s professionals will help you select and purchase the appropriate precious metals for your IRA and arrange for storage in an approved depository.

  1. What fees are associated with a precious metal IRA from Augusta Precious Metals?

Fees associated with a precious metal IRA from Augusta include custodian fees and storage fees. Custodian fees vary depending on the chosen custodian but typically include annual account maintenance and administrative fees. Storage fees are charged by the approved depository for holding your precious metals and may vary based on the storage facility and the amount of precious metals stored. Augusta’s representatives can provide specific fee information based on your individual circumstances.

  1. Can I store my precious metals at home if I purchase them through Augusta Precious Metals?

While you can choose to store your precious metals at home if you purchase them directly from Augusta Precious Metals, this option is not available for precious metals held within an IRA. IRS regulations require that precious metals in a self-directed IRA be stored in an approved depository. Augusta works with several reputable storage facilities to ensure the safekeeping of your IRA assets.