4.5 _/5

LendEDU Rating

Gold & Other Precious Metals

Purchase gold and silver coins and bars
Excellent online descriptions of the metals it sells
Shipped metals include shipping insurance and require a signature to be received

Doesn’t sell platinum or palladium coins or bars
$50,000 minimum purchase requirement for gold IRAs

With offices in Wyoming and California, Augusta Precious Metals has been helping people invest in gold and silver since 2012. The private company offers gold and silver IRAs and cash purchases for those who want to buy precious metals outside a retirement account.

Augusta Precious Metals belongs to the National Ethics Association and prides itself on transparent and straightforward service. The firm makes it easy to diversify savings with gold and silver.

In this Augusta Precious Metals review, we’ll explore the company’s offerings and whether it’s right for you.

In this review:

What does Augusta Precious Metals offer?
How much does Augusta Precious Metals cost?
What do Augusta Precious Metals customers say?
Where does Augusta Precious Metals store my precious metals?
Can I see how my precious metals investments are performing?
How to open an account
Pros and cons of Augusta Precious Metals
How can I withdraw from my account?
Where to find Augusta Precious Metals alternatives

What does Augusta Precious Metals offer?

Between recent high inflation and the possibility of a looming recession, many investors are looking to diversify with gold and silver. At Augusta Precious Metals, you can do that with a tax-advantaged retirement account or direct purchase of precious metals.

Gold and silver IRAs

Augusta Precious Metals helps customers diversify their retirement savings with gold and silver. It takes the guesswork out of opening a self-directed IRA, finding IRA-eligible precious metals, and storing them according to government rules.

Examples of IRA-eligible coins available through Augusta Precious Metals may include the following:

American Eagle
American Buffalo
Australian Striped Marlin
American Silver Eagle
Canadian Silver Maple Leaf

Gold and silver IRAs often act as a hedge against inflation, and they come with valuable tax benefits too. Talk to your tax advisor for more details about these benefits.

Common bullion

Not everyone wants to hold their gold and silver in an IRA. Some people prefer to buy precious metals to avoid government restrictions products and storage.

For cash purchases, Augusta Precious Metals sells a variety of common gold and silver bullion, including the following:

South African Gold Krugerrand (1oz.)
Austrian 1-oz. Gold Philharmonic
Gold bars (1oz. or 10 oz.)
America the Beautiful 5-oz. Cumberland Gap
Bags of 90% silver
Silver bars (10 oz. and 100 oz.)

Premium coins

Augusta Precious Metals also sells an assortment of premium gold and silver coins for those who want to purchase unique and sought-after items, such as:

2022 St. Helena Gold Sovereign
2014 Canadian .25-oz Gold $10 Arctic Fox
5-piece certified Indian or Liberty sets
2021 Royal Canadian Mint 1.25-oz. Silver Soaring Eagle
Ben Franklin half-dollar
Mercury dime

How much does Augusta Precious Metals cost?

You won’t pay any account management fees to Augusta Precious Metals, but that doesn’t mean a gold or silver IRA is entirely free. You’ll need an IRA custodian, and, by law, precious metals in an IRA must be stored in an approved depository.

An IRA custodian is responsible for safekeeping your account and ensuring all government rules are followed and paperwork is filed. It’s common to charge an annual fee based on the value of your account. Depository storage fees can also depend on how much gold and silver you have.

Augusta Precious Metals has a $50,000 minimum order requirement for cash and IRA purchases. Don’t let that amount deter you though. If you plan to open a gold IRA, you can roll over money from a 401(k) plan or IRA to meet that requirement.

What do Augusta Precious Metals customers say?

Source	Rating	Number of reviews
Better Business Bureau	4.96 / 5	110
Google	4.9 / 5	305

Ratings collected on February 28, 2023

To know how a company does business, it’s best to listen to its customers. Online reviews with the Better Business Bureau (BBB) and Google help identify a firm’s potential strengths and weaknesses.

Augusta Precious Metals’ reviews are excellent. People praise the company for its transparency, educational resources and responsive customer service.

This BBB review sums up the thoughts of many:

Professional, informative, and personable. They have exceeded my expectations with the ease of doing business.

Meanwhile, a reviewer on Google noted Augusta Precious Metals is a good fit even for those with no experience opening a gold IRA:

This was our first experience purchasing precious metals and we had many questions. The follow up to our questions was expedient and done with our needs in mind. We did explore other options and there was no question that Augusta was a perfect fit for us.

No complaints have been filed against Augusta Precious Metals at the BBB, and the few negative reviews we could find mentioned unsolicited communications and frustration with the company’s minimum order requirements.

Where does Augusta Precious Metals store my precious metals?

If you make a purchase for a gold or silver IRA, you must store your precious metals in an approved depository. Augusta Precious Metals recommends Delaware Depository, which has storage facilities on the East Coast and in the West.

Augusta Precious Metals will ship gold and silver to the depository location, and qualified purchases are entitled to free shipping and liability insurance while in transit.

Once Delaware Depository receives your precious metals, they’re protected by a $1 billion all-risk insurance policy issued through London underwriters. Metals are held off the company’s balance sheet, so there is no risk the facility’s creditors can access them.

If you’re purchasing gold or silver outside an IRA, you can have your purchase delivered to your home for storage. However, you may still want to use a depository to secure your precious metals using state-of-the-art technology.

Can I see how my precious metals investments are performing?

Like all commodities, the price of precious metals changes on a regular basis. To see spot prices, Augusta Precious Metals publishes a graph with current and historical data for the following:

Gold
Silver
Platinum
Palladium

Organizations such as the World Gold Council also offer information and data about precious metals pricing. The World Gold Council maintains a portfolio simulator so you can see how investments perform with varying levels of gold.

How to open an account

Augusta Precious Metals prides itself on making it easy to open a gold and silver IRA. The process includes the following steps.

Step 1: Get connected with a personal agent

Customer education is a priority for Augusta Precious Metals, and when you contact the company, it will assign an agent to be your personal liaison. That person will connect you to Augusta’s education team for an appointment to cover topics such as:

Basics of gold and silver IRAs
Typical fees
Current economic and inflationary factors
Red flags to avoid

Plus, team members should be answer many of your questions about diversifying with precious metals and how to open a gold or silver IRA.

Step 2: Open an IRA

Next, your personal agent will connect you to the IRA processing team. The professionals in this department will help you create a self-directed IRA to hold your precious metals. If that sounds complex or overwhelming, don’t worry. The IRA processing team does about 95% of the work for you.

Step 3: Fund your account

The IRA processing team will help you with the funding paperwork for your new account, but you need to decide where the money comes from.

The government allows workers to contribute up to $6,500—or $7,500 if you’re 50 or older—into an IRA each year. However, since Augusta Precious Metals has a $50,000 minimum deposit requirement, you will also have to roll over money from a retirement account.

Step 4: Select gold or silver to hold in your IRA

Your next stop is to talk to the order desk. They will discuss available gold and silver products and guide you to those that meet government requirements for an IRA. For peace of mind, you’ll have a final recorded call to confirm the details before your order is processed.

Step 5: Ship to a depository

The final step is to have your purchase shipped to a secure depository for safekeeping. Augusta Precious Metals often ships orders within 10 days, and items are insured while in transit.

Once the depository receives your order, the facility’s insurance policy covers your precious metals.

Pros and cons of Augusta Precious Metals

With rave reviews from customers and detailed information on its website, Augusta Precious Metals stands out from other gold IRA companies. However, even the best company can have shortcomings.

Here’s what we consider pros and cons of the Augusta Precious Metals gold IRA.

Pros

Zero management fees
No additional commissions added to listed prices
7-Day Price Protection Program allows premium product purchases to be revised to a lower price
Account Lifetime Support provides ongoing account services
Metal buybacks may be available
Free shipping and insurance for qualified purchases
Detailed FAQ and educational resources on website

Cons

Must call for pricing information
No option to order online
$50,000 minimum purchase requirement

How can I withdraw from my account?

You have two options to withdraw from your Augusta Precious Metals gold IRA: Take physical possession of your gold or silver, or sell it for cash.

Augusta Precious Metals has traditionally bought back precious metals from customers who want to make a withdrawal. Then the money is wired to your IRA custodian, who transfers it to you. Government rules prevent the company from guaranteeing it will buy back your metals, though.

Keep in mind: IRAs are subject to government withdrawal rules. For instance, if you make a withdrawal prior to age 59½, you could be subject to a tax penalty. On the other hand, if you fail to take required minimum distributions from traditional IRAs starting at age 73, you also could be subject to a penalty.

Talk to your tax advisor for more information on these rules.

Where to find Augusta Precious Metals alternatives

To start, read our best gold IRA guide for other leading gold IRA providers.

There are many compelling reasons to open a precious metals IRA, but a number of other retirement accounts are also available from personal finance companies. If you need help weighing your options, speak with a trusted financial professional.