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Each gold company has its pros and cons, and Augusta is no different. The goal of this review of Augusta Precious Metals is to help you understand all the fees, products, services and terms offered by Augusta, especially as it pertains to gold and silver IRA investments.
NOTE: As always, we recommend that you do your due diligence and speak to a financial advisor before making any portfolio allocation decision, as all investments carry a certain level of risk. A precious metal allocation may be a good way to diversify and protect your savings against economic and geopolitical uncertainty. However, please understand that, just like with any other investment, past performance cannot guarantee future returns. Invest wisely.
Augusta Gold IRA Quick Overview
- URL: https://www.augustapmira.com/
- Phone: (844) 615-4484
- Minimum investment: $50,000 for gold IRA accounts AND cash investments.
- Depository Partner: Delaware Depository
- IRA Partner: Equity Trust
- Products available for gold IRA accounts:
- Premium coins: exclusive limited-edition gold and silver coins (averaging 33% markup).
- Standard bullion coins & bars: regular household gold and silver bullion coins and bars (averaging 5% markup).
- Current promotion: Get a free Gold Eagle, Polar Bear Coin or Gold Britannia coin while supplies last.
- Pricing & Fees: see below…
- Gold IRA Setup Fee: $50 one-time fee.
- IRA Annual Maintenance Fee: $100
- Annual Storage Fees: $100 non-segregated
- Total Annual: $250 year one. $200 per annum thereafter.
- Storage Locations: Many options but Delaware and Salt Lake City are the most popular.
Augusta Precious Metals - Pros & Cons
🖒 Pros
- Separate Compliance Department
- Harvard-trained Economist
- Non-commissioned Sales Department
- Great reviews across the board
- A+ Rating from the BBB
- White Glove Service for Gold IRA Investors
- Named "Best Overall" Gold IRA Company by Money magazine
- Ranked Top Gold Company for HNW Investors by Barchart
- Lifetime Support for All Clients
🖓 Cons
- Higher Fees on Premium/Exclusive Coins (Up to 66% according to their terms)
- Unclear if Buyback Policy Can Honor the Premiums Paid for Coins
- Large Minimum Investment Required at $50,000
- Not everyone qualifies to be a client
Augusta Company & Leadership Overview
- Celebrity ambassadors/clients: Joe Montana, Mark Levin.
- HQ Location: Los Angeles, CA.
- Website: https://www.augustapmira.com/
- Founder: Isaac Nuriani.
- CEO: Isaac Nuriani (See Our Exclusive Interview of the CEO later in this article)
- CFO: Howard Smith
- Director of Education: Devlyn Steele
- Communication Manager: Kindra Foster
- Director of Marketing: Sara Burray
History & Background of the Company
You may have heard their ad on Fox Radio or seen their ads online. Augusta is a “premium” gold company that caters to large and HNW investors with its white-glove services.
CEO Isaac Nuriani founded Augusta Precious Metals back in 2012 to assist individuals with diversifying and protecting their retirement portfolios with gold and silver bullion coins and bars.
The company specializes in gold IRA services for those who wish to acquire precious metals through a retirement plan like a 401k. 403b, TSP, SEP and others. It also allows individuals to acquire precious metals outside of a retirement plan with cash.
One element that has made Augusta quite popular in the gold space is their free gold conference conducted by Devlyn Steele, a Harvard-educated economist.
Augusta is also a member of the National Ethics Association, which technically means that the company puts emphasis in transparency and honesty in its services and pricing schedule.
The company also ensures it upholds its three promises (Transparency, ease of use, and excellent customer service) to its clients. From educating you to ensuring easy withdrawals, Augusta Precious Metals is there for you every step of the way.
Augusta’s Reviews & Ratings Overview
Below is a summary of Augusta Precious Metal ratings across several reliable review platforms:
- URL: https://www.augustapmira.com/
- Phone: (844) 615-4484
- BBB Rating: A+
- Business Consumer Alliance (BCA): AAA
- TrustLink: 4.9 stars (290 reviews)
- TrustPilot: 4.8 stars (133 reviews)
- Yelp: 5 stars (6 reviews)
- Facebook: 96% (85 reviews)
- Consumer Affairs: 4.7 stars (149 reviews)
- Better Business Bureau: 4.92 stars (99 reviews)
Augusta Precious Metals IRA Services & Products
Gold & Silver IRA Accounts
Augusta Precious Metal specializes in helping retirees open Gold IRA Accounts and will handle all the steps of opening such an account, ensuring all IRS requirements and deadlines are met. After opening your IRA account with Augusta Precious Metals, you get lifetime support from a representative of the company so any time you have issues or questions your representative will be with you.
Standard bullion (Around 5% Margins)
If you’re interested in bullion products like the American Gold Eagle or Canadian Gold Maple Leaf coins, expect to pay around 5% margins with Augusta Precious Metals. These products are great for investors interested in getting the highest purity bullion at the lowest premiums over spot.
Premium products (Up to 66% Margins)
Augusta provides a variety of premium gold and silver bullion. As stated in their transaction agreement, and this is a testament to their transparency: a premium product's margin might reach 66%. There is a limited quantity of premium products available on the website.
Augusta Precious Metals Silver and Gold Cash Purchases
Augusta Precious Metals accepts cash purchases for those who want to acquire their physical precious metals outside of an IRA. Once you’ve made your purchase you get a high level of assistance from Augusta's specialist departments and gold and silver experts.
You also get complimentary shipping, transit insurance, free, private, and safe delivery plus the benefits of buying alternative assets like gold and silver.
We recommend that call them to ask for their pricing. Phone is (844) 615-4484.
How to Get Started with Augusta Precious Metals
Step 1:
Download the Augusta Precious Metals investment kit, then arrange a meeting with your dedicated customer success agent, who will serve as your point of contact throughout.
Step 2:
Your representative points you toward a free web conference where you may learn more about gold and silver IRAs. They lecture you on economics, including inflation and justifications for purchasing gold, as well as cautions on high-pressure tactics employed by some gold IRA firms. among other things to think about are investments and the tax implications of precious metals.
Step 3:
Open a silver and gold IRA with Equity Trust, the recommended custodian, or a different custodian of your choosing. These IRA custodians are in charge of managing your gold or silver bars and coins. The best thing about this step is that 95% of the paperwork is processed for you by Augusta Precious Metals.
Step 4:
From their excellent selection of gold and silver options, select the gold and silver bars or coins that you desire.
Step 5:
Obtain a formal order confirmation over the phone. Your package will be sent with tracking information so you can keep track of its whereabouts. You will be allowed to keep your gold or silver bars or coins in the depository of your IRA custodian once they have been delivered to you. From this point forward, Augusta Precious Metals will continue to offer you assistance and direction to protect your investment and give you the knowledge you need to make future decisions about your IRA.
The Augusta Precious Metals Team
Isaac Nuriani - Founder and CEO
Isaac graduated from the University of California, Los Angeles with honors in economics, and he is now a mentor and advisor to business people who share his passionate commitment to the security of American retirement. Isaac has a clear commitment to ethics and professionalism as part of his vision of high-quality service. He is a supporter of silver and gold IRAs to assist retirement savers to diversify their investments and is a member of Ethics.net and the Industry Council for Tangible Assets (ICTA).
Howard Smith - President and COO
Howard Smith has more than 30 years of experience in the financial services industry and has served in executive positions at several important financial institutions. He started working for Augusta Precious Metals in 2015, and since then, he has been crucial to the growth and success of the company.
Devlyn Steele - Executive Vice President
Devlyn Steele is the director of education and a Harvard-trained economic analyst employed by Augusta Precious Metals. He educates savers on the state of the economy. Devlyn Steele has more than 25 years of experience working in the precious metals industry and has held positions with some of the largest precious metals companies in the world.
Augusta Precious Metals Storage & Vault Options
Secure storage alternatives are available from Augusta Precious Metals in IRS-approved depositories throughout the country. Although they provide a variety of storage choices, the business advises depositing your precious metals at the Delaware Depository to safeguard your retirement funds. Over 72,000 square feet of storage space are available at this site, which is outfitted with Class 3 vaults, the hardest to breach, and other cutting-edge security measures.
However, if the Delaware depository isn’t convenient for you, you can choose any storage facility. Augusta’s storage facilities are available in:
- Los Angeles
- Salt Lake City
- Nampa
- Las Vegas
- Shiner
- Dallas
- South Fargo
- Wilmington
- Bridgewater
- New Castle
- New York.
Augusta Precious Metals Buyback Program
You can sell your acquired gold or silver back to Augusta Precious Metals through the company's buyback program. Prices are set by the company at the time of sale. Augusta Precious Metals may NOT take your gold or silver.
IMPORTANT NOTE: we highly recommend that you ask your Augusta representative more details about their buyback program so you can understand exactly how much you can get for your coins and bars if you decide to sell them back to them.
Interview with CEO Isaac Nuriani
Q: Tell us about yourself and your investing experience:
Hello, I'm an economics graduate with honors from the University of California, Los Angeles. My vision centers around providing quality service with a strict commitment to ethics and professionalism. I am proud to be a member of Ethics.net and the Industry Council for Tangible Assets (ICTA), advocating for silver and gold IRAs to help retirement savers diversify their savings.
Q: Why did you start Augusta?
I founded Augusta Precious Metals with a personal mission to empower the public with knowledge about potential retirement concerns caused by economic policies favoring big banks over individual retirement savers. Through Augusta, I aim to help retirement savers diversify their savings by offering education and physical precious metals products.
Q: Why am I bullish on gold and silver?
I am bullish on gold and silver for a couple of fundamental reasons. Firstly, precious metals inherently possess value-protecting qualities, making them appealing in uncertain economic climates. Global uncertainty has been on the rise since the beginning of the millennium, and gold, for example, has seen a significant increase of over 600% during that period. Secondly, in the shorter term, the growing likelihood of a recession and the possibility of the Fed stopping rate hikes (leading to accommodative monetary policy) bode well for gold. Experts, like Bank of America, even believe we might be at the beginning of a two-year bull run for metals.
Q: What are some red flags investors and retirees should look for when choosing a gold company?
In my opinion, there are several red flags that clients should be cautious about when selecting a gold company:
- Excessive publicly available negative reviews about a company's practices.
- Aggressive metals giveaways or gimmicks, like "free silver" campaigns that aren't truly free.
- Pitches for exceptionally good or "sale" prices for metals, when most companies pay similar wholesale prices.
- Bait-and-switch sales tactics, pressuring customers to buy higher-premium collectible coins instead of their intended bullion purchase.
- High-pressure sales tactics, which we at Augusta take pride in avoiding by ensuring a no-pressure approach in our presentations.
- Lack of complete information about the product and service being offered by the company.
- Lack of responsiveness and transparency during initial communications, which may signal potential issues later in the process.
Final Thoughts On Augusta Precious Metals Review
Augusta seems like a reputable company that has built a solid reputation amongst gold IRA investors. However, keep in mind that the costs for their premium coins can get quite high, especially if you are interested in limited-edition coins.
We highly recommend you speak to your financial advisor before making any investment decision. Do your due diligence about the coins, prices and all the fees involved before investing. Also, keep in mind that past results cannot guarantee future returns, and that all investments carry a certain level of risk, including precious metals.
From its extensive selection of products and services to its commitment to transparency and customer service, Augusta Precious Metals has proven itself to be one of the top choices for people looking to invest in precious metals. Contact them today to answer any questions you might have.
Want to learn more about Augusta Precious Metals
- Request their free Gold IRA Guide
- Contact Augusta Precious Metals directly at (844) 615-4484
- Visit their website: https://www.augustapmira.com/
- Join their free gold conference, led by Devlyn Steele, a Harvard-educated Economist.