Augusta Precious Metals Review

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Is your retirement portfolio really as diversified as it could be? If you don't have a self-directed IRA, you might be missing out on alternative assets. Companies like Augusta Precious Metals can help you open a precious metals IRA to hold part of your retirement in precious metals.

But the gold industry is full of scammers and fraudulent actors. On top of that, some companies skirt the line of legality by being misleading about their fees and commissions. So is Augusta Precious Metals one of the bad eggs? Or is it a safe haven from all the nonsense?

Overall, we recommend this company more highly than almost any other. Here's a breakdown of what they offer and why we believe they're trustworthy.

About Augusta Precious Metals

Augusta Precious Metals Review

Augusta Precious Metals is one of the top rated gold IRA companies today. They sell IRS-approved gold and silver and work with multiple different custodians to help set up self-directed IRAs for clients. Their main goal is to educate and empower clients to protect their assets through precious metals diversification.

Rather than being just a gold broker, Augusta forges a lifelong relationship with their clients. Every client has a dedicated account representative who can answer questions and give you information about your holdings. In addition, there are five different specialized departments focusing on each step of the IRA process.

Even if you aren't certain whether gold and silver are in your future, Augusta encourages people to call and speak to a representative anyway. You can ask your questions and get expert answers. Past customers have reported that the company representatives are never pushy about sales, and that they seem to genuinely want the best for every customer.

Another solid aspect of Augusta's setup is that they are extremely transparent. Some companies tack unexpected commission fees onto the prices of their metals. But with Augusta, the price you're quoted is the exact price you'll pay. You can check it against the actual market cost of the item to make sure the markup is fair.

The company also strives to be transparent about their other fees. They only work with pre-vetted custodians that they consider to have the best policies, and they have clear costs for setup and maintenance listed.

Available Services

Augusta Precious Metals Review

Augusta Precious Metals provides a diverse range of services focused on precious metals IRAs. If you want a company that can make the process of opening and maintaining a gold IRA easy, you don't have to look any further.

These are some of the services that you can access:

  • Setup and funding of self-directed IRAs.
  • Purchase of gold and silver for both retirement and personal portfolios.
  • Educational materials to teach customers about precious metals and the economy.
  • On-demand specialists to answer questions about gold, silver, and precious metals investments.
  • Dedicated service with a single representative who will walk you through every subsequent purchase.
  • Information about your holdings and investment growth through a lifetime of support.

There are some limitations to the services, depending on what you want. For example, the brokerage doesn't sell platinum, palladium, or collectible coins. They also haven't dipped into other alternative assets like cryptocurrency or real estate.

How the IRA Process Works

Augusta Precious Metals Review

If you decide that you want to invest in gold or silver for retirement, your dedicated company representative will walk you through the process. The company has been working within IRS guidelines for years. Their segmented approach to employment ensures that every employee is a complete expert in their own niche part of the process.

Before you even make a purchase, the company's main focus is on education and meeting your goals. You'll be able to learn about the benefits and drawbacks of precious metals investment, the risks and potential rewards, and the differences between gold and silver.

Your account representative will make an effort to learn about your current holdings, your goals for growth over time, your risk tolerance, and how long you plan to hold onto the metals. Then they can make suggestions for the types of coins and bars that will work best.

Augusta works with depositories all over the US. Once you open your account, you'll choose a depository. For those who don't have a preference already, they recommend using the Delaware Depository located in Delaware. Delaware is a state with many tax advantages, and this particular depository is run by a company with a long history of quality service.

Self-Directed IRAs

Augusta Precious Metals Review

Precious metals can only be held in a self-directed IRA due to their designation as alternative assets. A self-directed IRA is very different from other options. Instead of having an investment manager, the investor is the one who makes all the decisions.

This can be intimidating if you're new to personal investments. Investment managers are paid to create diverse portfolios that offer a mixture of stability and growth potential. With a self-directed IRA, you have to choose which percentages of your wealth go toward which investments.

That's part of why the educational resources at Augusta are so important. The company aims to give you enough information to feel truly confident about the investment decisions you've made. Not only that, but they take care of almost all of your paperwork for you.

Customer Service Team

Augusta Precious Metals Review

After you set up your IRA and make your first purchase with Augusta Precious Metals, you're entitled to a lifetime of ongoing support. In fact, Augusta's entire business model is built around having years-long client relationships.

You can get in contact with experts at the company whenever you want to talk about your holdings, questions, any concerns, or future purchases.

Each customer is given a dedicated agent who works with them for years. You can bring any new questions or purchase needs directly to them.

When you need more specific guidance, there are dedicated departments that can help.

One of these is the economic analytics team. These are employees whose entire job is to analyze the state of the gold and silver markets. They can inform you about important economic events or developments in the precious metals industry that might affect your holdings.

These people proactively identify potential threats to your assets. They can also explain the factors affecting different market spheres, which gives you further confidence in your savings.

The IRA processing team is specifically built around the IRA setup process. They can contact your custodian and handle all of the setup of your account. They'll file your paperwork for you and show you where you need to sign. Overall, their dedication saves you a ton of time and energy.

The portfolio support team is made up of precious metals experts. They know everything there is to know about the different options for gold and silver bullion. By talking with them about your goals, you can learn enough information to create a personalized portfolio for your precious metals.

The final team is the order desk team. These representatives are experts in the actual order process. They can help you finalize future purchases for your portfolio by telling you what's in stock, what the prices are, and which investments are the most economically stable.

This team also understands how to balance a precious metals portfolio. They can give you advice on whether you should invest in more gold or silver, whether you should put your money into coins or bars, and whether you should diversify your account elsewhere. These insights are invaluable as you continue building your retirement future.

Is Augusta Precious Metals a Scam?

Augusta Precious Metals Review

Augusta Precious Metals is not a scam. It is one of the most highly rated gold IRA companies in the industry thanks to its low pricing, transparent fees, and excellent customer service. Employees also give the company excellent ratings on Glassdoor, indicating that it's a positive place to work.

Every individual has access to a lifetime of customer support after setting up their account. You'll be assigned the same company representative for as long as they work with the company. When you have questions, you can get in contact with an expert from any one of the five specialized teams.

Augusta has been accredited with the Better Business Bureau and has an A+ rating. It also has great ratings with the Business Consumer Alliance. Hundreds of past customers have written about their positive experiences and recommended the company to their friends and family.

Overall, we highly recommend that people who reach the $50,000 minimum investment threshold work with Augusta. The company's services are truly expansive and impressive.

Pros

  • Quick, simple process for setting up a gold IRA.
  • Unparalleled customer service and excellent organization.
  • Endorsed by celebrity icons like Joe Montana.

Cons

  • No platinum or palladium available for purchase.

Final Thoughts

Augusta Precious Metals is one of the best companies you can invest with for a gold IRA. In addition to being transparent about their fees and structuring, they also have an internal organization system that can't be beat. Every employee specializes in one specific step of the process, so they know everything about it.

Right from the start, you'll be assigned a company representative who will walk you through the process. And others will be available to answer your questions every step of the way. Augusta has hundreds of positive reviews from past customers, who say that the company was trustworthy and well worth their time.

There are very few potential drawbacks here. The customer service is great, the flat fees are low, and the educational materials are unparalleled. One of the only potential issues you might have is if you want to purchase platinum and palladium, since Augusta only deals in gold and silver.

But if platinum and palladium aren't on your radar, this is a legitimate business that's very worthy of your attention!

Frequently Asked Questions

How do precious metals work in an IRA?

In 1997, legislation was passed that designated precious metals as "alternative assets." Along with other alternative assets, these could be held in a self-directed IRA. When the time comes to receive dividends from your IRA, you can either liquidate the metals for money or have the metals themselves shipped to you.

Only certain metals are available for use in an IRA. You need to purchase coins or bars of gold, silver, platinum, or palladium. They must adhere to certain purity standards of the IRS, and they must be certain approved coins or bullion.

When you put money into your self-directed IRA, you can use it to purchase appropriate precious metals from a precious metals dealership. You will need to store the metals in an IRS-approved depository with an IRS-approved custodian. Different custodians and depositories have different annual storage and maintenance fees.

The precious metals are a tax-advantaged way of holding onto your retirement income. At the same time, you can receive ongoing information about the worth of your metals and their growth or loss of value over time.

Because the process of opening a precious metals IRA can be complex, it's best to work with a company that specializes in this. They'll help streamline the process, get the paperwork sorted out, and make sure that you're purchasing the right metals for your needs.

Augusta Precious Metals is just one of dozens of gold IRA companies in the industry. But they are one of the best thanks to their streamlined customer care and ongoing support.

Where are IRA precious metals stored?

You can't keep IRA precious metals in your home. The IRS has outlined guidelines for depositories that include strict security measures. Only a few depositories meet these guidelines both in the US and internationally.

Augusta Precious Metals is unique in that it works with more of these depositories than most of the competition. Some facilities, such as those in Delaware and Texas, are recommended because they reside in tax-advantaged states.

Augusta also works with one or more depositories in every region of the US. You'll find options in New York, Massachusetts, California, Idaho, Utah, Nevada, and even North Dakota.

Some people choose a depository close to home so that they can visit and view their metals. Others pick depositories based on which have the most reasonable storage fees or the best tax advantages. If you're not sure which one is right for you, your Augusta representative may be able to offer some guidance.

Which custodians does Augusta work with?

Custodians are typically financial institutions that have been approved by the IRS to maintain precious metals IRAs. Different fee structures apply to different custodians.

Augusta works with several different custodians. They state that they have extensively vetted a variety of options and formed partnerships with the best ones. You can contact your custodian whenever you want, although Augusta can also handle all the communication if you don't want to deal with the hassle.

Equity Trust is one of the main partners. They have been managing assets and maintaining self-directed IRAs for over 30 years across all 50 states.

GoldStar Trust Company is another custodian option. They have been operating for more than a century, having been created in Texas in 1908. Today, they are in charge of almost 40,000 self-directed IRAs.

Kingdom Trust is the final partner. They have been working with Augusta for years and serve over 100,000 customers. Their main goal is to help create innovative custody solutions for complicated accounts.

If you have your heart set on working with another custodian, Augusta may be able to accommodate that. But these three are the options that Augusta considers the best in the business.

How does a rollover work?

A rollover is when you use the existing funds in your retirement account to fund a new account. In the case of precious metals IRAs, you'd be taking a portion of your retirement funds and transferring them into a self-directed IRA. Then you'd use those funds to purchase precious metals.

Rollovers can be done with the vast majority of standard retirement accounts like IRAs, 401(k)s, and 403(b)s.

The rollover process can sometimes be complicated, depending on the requirements of the company managing your retirement account. For this reason, it's best to work with a seasoned investment expert.

Companies like Augusta Precious Metals employ rollover experts who can make the process as simple as possible, even handling all the communication for you.

How do I liquidate my precious metals?

Precious metals in an IRA are subject to the same penalties for early withdrawal that you get with your other retirement accounts. However, once you reach the age of 59 and 1/2, you can start taking distributions out of the account.

Augusta Precious Metals does offer buyback services when people are ready to part with their metals. The company says that they cannot guarantee that they'll purchase your gold when the time comes, but no customer's request has been denied yet.

The lack of guarantee is probably because of liability. With that said, Augusta forges lifelong relationships with clients and wants to make the liquidation process as easy and fair as possible.

If you're ready to liquidate, you can simply ask Augusta to remove a portion of your metals and then send cash to the custodian. Then your custodian will send you the money.

You can also pick up the physical metals from your depository or have them mailed to you if you don't want to liquidate them.

How complicated is it to open a precious metals IRA?

Opening a precious metals IRA is a fairly complicated process. There's a lot of paperwork that needs to be filed before the process is finished. You have to coordinate with your custodian, dealership, and depository. And that's without even getting into the complexities of funding your account through a rollover.

These intricacies can be a huge hassle, especially if you don't have much experience in the financial sector. In the past, the technicalities were a huge barrier for some people. But gold IRA companies have been created specifically to make the process accessible to the average person.

When you work with a gold IRA company like Augusta Precious Metals, they will handle the paperwork. They'll even contact your custodian and depository for you. Their experts can give you vital information for how to choose the assets in your vault. And all of this comes with a low, flat fee for the account setup.

All in all, opening a precious metals IRA doesn't have to be a complicated process. You can work with a company that makes it easy instead.

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