Augusta Precious Metals Review Is This the Best Gold IRA Company for Your Retirement Goals
Augusta Precious Metals is a new entrant into the gold IRA scene. They arrived in 2019 and have since become one of the premier gold IRA companies.
In this review, we'll investigate if this is the right pick for you to expand your retirement portfolio and achieve your financial objectives.
Overview of Augusta Precious Metals
Augusta Precious Metals is an independent gold and silver dealer founded by Vernon Geiger in Huntington, Virginia, situated along the beautiful Potomac River valley.
They provide competitive prices and expert customer service, whilst offering advice on how to invest in gold and silver. Augusta's team helps customers throughout the purchase process, from asset allocation to safety and security, and they ensure a simple, stress-free experience.
They offer the standard gold and silver products such as coins, bars and IRAs, as well as an impressive collection of rare coins which are much sought after.
The company also offers storage options for IRA-held funds, both of which are rated as “high” on their security index – Delaware Depository Service Company and Brinks Global Services USA.
Why You Need a Gold IRA
Retirees or those close to retirement may benefit from a Gold IRA. It's an Individual Retirement Account which can hold gold, silver and other precious metals alongside stocks and mutual funds. These are popular because they can diversify a portfolio and protect it during inflation periods.
A Gold IRA allows people to invest in physical metal, not just paper assets like stocks and bonds. This can lead to increased returns and safety, plus maintain purchasing power better over time. Gold cannot be printed like paper currency, so it can be a hedge during volatile stock markets.
Products and Services
Augusta Precious Metals offers a lot! Gold and silver coins, bars, rounds and bullion. Plus, gold IRA services and retirement savings accounts. Investing in physical gold, silver, palladium and platinum is possible too.
Let's check out how these fit into retirement planning:
Types of Precious Metals IRA
An Individual Retirement Account (IRA) is a personal account for saving and investing over time. A Precious Metals IRA is created with a custodian who puts your money into gold, silver, and other approved precious metals.
Augusta Precious Metals offers three types of IRA accounts, each with its own benefits:
- Traditional IRA: Contributions come from pre-tax income that can be claimed as deductions. Taxes are only paid when money is taken out.
- Roth IRA: Contributions have already been taxed. Earnings grow tax-free and withdrawals at retirement age or later are tax-free.
- SEP or Simplified Employee Pension Plan: Up to 25% of salary as pre-tax dollars can go into the SEP IRA account, up to $55,000 per year. Self employed individuals can contribute more, within IRS limits.
These plans give you control of taxes, and protection from inflation through gold and other precious metal investments.
Augusta Precious Metals offers different storage options. Home storage allows metals to be stored in a safe or secure spot of the customer's choosing. Segregated and allocated storage provides each customer with their own account at the Augusta depository. Metals are kept in individual containers clearly marked with the customer's name, account number and type of product. Allocated storage ensures customers have full ownership of their bullion and allows them to access their portfolio online.
Plus, Augusta Precious Metals gives free insured transport when transferring assets to a depository facility.
Account Setup and Fees
Augusta Precious Metals offers a stress-free service to investors for retirement accounts and gold IRA investments. They make the process simple by providing free help with forms, account setup, and capitalizing on tax advantages.
Once you have chosen a custodian, Augusta Precious Metals will help you set up your retirement account. This includes completing the IRS Form 706 and either creating or transferring an IRA to Augusta.
Also, Augusta Precious Metals assists in managing the features of investment portfolios. They review accounts, buy gold, and carry out distributions from portfolios. Plus, complimentary consultations and portfolio reviews tailored to investors' requirements.
Augusta Precious Metals has flat set-up fees for Gold IRA accounts. These fees depend on your storage option. It may be at home or at a secure bullion vault. Also, other costs may be applicable based on transactions within the IRA account:
- Flat set-up fees
- Storage option
- Costs based on transactions within the IRA account.
Pros and Cons
Augusta Precious Metals is an established gold IRA company. It's been in business since 2002. They offer a variety of investment options, competitive pricing and experienced customer service.
Of course, like any gold IRA company, it has both pros and cons. We'll review them here to help you decide if Augusta Precious Metals is the right choice for you.
Augusta Precious Metals has lots to offer gold IRA investors. For example, reliability and trustworthiness. They have an A+ rating from the Better Business Bureau and have been around since 1996. Plus, they have competitive prices, compared to other top companies. You can get discounts on bulk orders too.
There's a variety of investments available – gold, silver, platinum and palladium coins or bars. And they provide full package support to set up self-directed IRAs with metals included. All with expert knowledge on the regulations, helping you choose which metals make sense for your portfolio.
Augusta Precious Metals is a gold IRA company that comes with some pros. But, potential customers should also be aware of a few cons.
- Augusta doesn't allow for physical gold purchases and storage. So, those who want to maintain control over their gold must look elsewhere.
- Augusta only operates in the US. As such, investors don't have the option of taking advantage of global market price fluctuations.
- Augusta advertises free shipping for orders over $75. However, customers must pay for shipping when purchasing and returning items.
- Lastly, it seems that visitors can no longer see physical gold stored in Augusta's facility before buying it.
When researching a gold IRA, customer reviews are key. If a company has tons of positive reviews, it's probably a sign that customers are satisfied. But, if there's negative reviews, investigate why – to see if it's a good fit for you.
Let's take a look at Augusta Precious Metals customer reviews and see what people have to say.
Augusta Precious Metals has seen lots of satisfied customers. Many shareholders trust Augusta with their retirement savings. Reasons why? Their extraordinary customer service and knowledgeable staff. Here are some highlights and comments from past clients:
- “The guidance I got in setting up my gold IRA account was really comforting. Augusta answered all my queries with clarity, urgency and politeness. Highly recommend!”
- “Augusta was super efficient in getting my gold account ready quickly, without any hassles or delays.”
- “I'm delighted to be working with such a strong, dependable firm. Every time I emailed or called Augusta for help, I was met with friendly advice and quick responses.”
- “I'm thankful that Augusta provides all the tools and resources to understand IRA laws and regulations without a fee. They were very supportive throughout this entire process. And even after I opened my account, they stayed connected until everything was okay.”
- “The greatest thing about Augusta Precious Metals is their expertise. It's so nice to speak to someone who knows precisely what they're discussing when it comes to investing for your future.”
Augusta Precious Metals has positive reviews, but some negative ones too. Customers unhappy with customer service, slow results and inadequate help. Unexpected fees like storage and commission fees. Issues reaching reps, and lack of transparency in product details.
When considering investing, do research first!
So, Augusta Precious Metals is an awesome gold IRA company! It offers competitive pricing and secure storage. Its staff are very knowledgeable and experienced. Plus, the platform is easy to use. There are many other services as well. That's why it is one of the top picks for those wanting to invest in gold IRAs!
Final Thoughts on Augusta Precious Metals
To sum it up, Augusta Precious Metals is ideal for those seeking to invest in gold and silver for their retirement. Their customer service is great – professional, knowledgeable, and friendly. Plus, with low fees and a wide selection of approved coins, investors have plenty of options.
Augusta Precious Metals is well-respected in the industry. They offer a great suite of precious metal investing services with discounts on coins and great customer service. First-timers or those diversifying into gold and silver coins will find Augusta Precious Metals helpful in achieving their retirement goals.
Frequently Asked Questions
Q1: Is Augusta Precious Metals a legitimate gold IRA company?
A1: Yes, Augusta Precious Metals is a legitimate gold IRA company. The company is an accredited member of the Better Business Bureau and has an A+ rating. Additionally, Augusta Precious Metals is a member of the Industry Council for Tangible Assets, a national trade organization that promotes ethical business practices in the investment industry.
Q2: What services does Augusta Precious Metals offer?
A2: Augusta Precious Metals offers a variety of services related to gold IRA investing. These services include setting up self-directed IRA accounts, assisting with gold purchases and storage, and providing ongoing portfolio management services. They also offer a wide selection of precious metals, including gold, silver, and platinum.
Q3: Are there any fees associated with investing with Augusta Precious Metals?
A3: Yes, there are fees associated with investing with Augusta Precious Metals. These fees include account setup fees, annual storage fees, and transaction fees. The fees vary depending on the type of account and the amount of gold being invested.