Augusta Precious Metals Pros and Cons- Everything You Need to Know!
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Augusta Precious Metals is one of the best gold IRA companies on the market.
But they’re not perfect.
My Augusta Precious Metals pros and cons guide tells you everything you need to know about this company.
Table of Contents
Augusta Precious Metals Pros
- Strong Focus on Education
- Easy Account Setup Process
- Lifetime Support
- No Management Fee Charges
- Near Perfect Customer Reviews
- Purchase Gold and Silver Directly From Augusta Precious Metals
- They Offer Gold Buybacks
- Supported By Celebrities
Strong Focus on Education
Augusta Precious Metals are not trying to just sell to you and turn you into a customer no matter what.
Instead, they first aim to educate you and let you know what your options are so that you can decide knowing what you’re getting into.
This is why you can’t order precious metals from Augusta without first getting in touch with their support and having a personal agent assigned to you.
Augusta Precious Metals also have an active YouTube channel where Devlyn Steele, (APM’s director of education) regularly posts videos on current economic trends.
Easy Account Setup Process
It’s easy to set up your account with Augusta Precious Metals.
All the paperwork is done by their helpful staff and all you need to do is educate yourself about self-directed IRA, your options and when you’re ready sign up to start the process of creating your precious metals IRA.
Lifetime Support
Augusta Precious Metals is different from other popular gold IRA companies. With them, you get lifetime support and 24/7 access to APM staff.
This means long after you’ve invested with APM you can contact them to get a scoop on what going on with the economy and what’s the current value of gold and silver on the market.
Learn more about Augusta Precious Metals customer support by reading my guide next.
No Management Fee Charges
Augusta Precious Metals don’t charge you management fees.
Instead, you only need to pay for setting up your account (one-time $50 payment) and yearly custodian ($100/yr) and depository fees ($100/yr).
So the expenses for the first year will be $250, but every year after that will be only $200 per year. That is only $0.54 per day.
Perfect Customer Reviews
Augusta Precious Metals shines in honest customer reviews across a wide range of consumer watchdog websites.
- BBB (Better Business Bureau)– score is 4.95/5 based on 111 reviews.
- TrustLink– score is 5 stars based on 284 reviews.
- Google My Business– 5 stars based on 301 reviews.
- Business Consumer Alliance– AAA rating based on 96 reviews.
- Facebook– 4.8/5 based on 124 reviews;
- Ethics.net– Augusta Precious Metals holds membership in professional associations that help ensure consumers work with companies that meet the highest standards of professionalism and ethics.
- Stevie Rewards– Augusta Precious Metals has won two Stevie Awards for Customer Service Success and Sales Distinction of the Year. The Stevie awards are some of the world’s most coveted business awards. They are judged by respected executives, entrepreneurs, innovators and business educators.
- Consumer Affairs– 4.9/5 score based on 129 reviews.
Purchase Gold and Silver Directly From Augusta Precious Metals
Augusta Precious Metals allow you to buy gold and silver outside of IRA.
This is important for those who want to take physical possession of their precious metal retirement portfolio and store it at home.
Note: the minimum cash investment is $50 000.
They Offer Gold Buybacks
According to their Risk Disclosure page Augusta Precious Metals can (but is not obliged to) buy back the metals you bought from them.
If you decide to sell your precious metals back to Augusta you will receive ~5% less than what you paid. This is because Augusta’s spread is 5% but it can go up to 33% on premium coins.
Note: A “spread” is the difference between the price that a precious metals IRA company sells gold and silver to you and the price they pay you when you sell that gold and silver back to them.
For example, Augusta Precious Metals’ spread is just 5% which is considered one of the lowest among the gold IRA companies operating on the American market.
This means if you buy gold and silver from Augusta for $50 000 and then suddenly you need to sell those assets back to them, you’ll be able to sell back those assets to Augusta for $47 500 (because the spread is 5% and $2500 is 5% of $50 000).
Supported By Celebrities
This is not a direct pro of Augusta Precious Metals, but it’s worth mentioning that famous celebrities like Mark Levin and Joe Montana have joined APM in official ambassador roles.
Learn about the relationship between Augusta Precious Metals and Joe Montana here.
Augusta Precious Metals Cons
What are the Augusta Precious Metals Cons in 2023?
- High Minimum Investment
- There is no Pricing of Products on Their Website
- You Can’t Purchase Platinum and Palladium With Augusta Precious Metals
- Relatively High Margins
High Minimum Investment
Augusta Precious Metals require a minimum of $50 000 investment for both IRA and non-IRA (cash) gold and silver purchases.
The $50 000 minimum investment requirement is considerably higher compared to some other precious metals IRA companies.
For example, Goldco requires a minimum investment of $25 000, which is half of what you need with Augusta Precious Metals.
And American Hartford Gold require even less. Just $5 000 for cash purchases and $10 000 for gold IRA’s investments.
There is no Pricing of Products on Their Website
Augusta Precious Metals don’t tell you how much they charge for their service of setting up your precious metal IRA.
Instead, you can get the pricing details by talking to one of their support staff. This is not transparent and definitely pushes some of the potential clients away.
Read my Augusta Precious Metals fees page to learn how much Augusta Precious Metals services cost.
You Can’t Purchase Platinum and Palladium With Augusta Precious Metals
Augusta Precious Metals is a gold and silver IRA company. They don’t offer other precious metals like platinum and palladium.
With Augusta Precious Metals you can buy:
- Common gold bullion;
- Common silver bullion;
- Premium gold;
- Premium silver;
- IRA eligible coins.
Relatively High Margins
A “margin” or ” “markup” is the difference between the selling price of a product and the initial cost of purchase.
Augusta Precious Metals have a relatively high margin (10%- 33%) built into the pricing. This raises the amount of money you need to set aside to invest in precious metals IRA.
The margin covers the price Augusta pays for its products, the payouts to employees and affiliates, advertising and marketing, and profits…
Note: it’s worth saying that all gold IRA companies have similar margins. This is a requirement for them to be profitable and operate in the market.
Augusta Precious Metals Pros and Cons (Conclusion)
Augusta Precious Metals is one of the best gold IRa companies on the market.
They’re not perfect but boast an impressive set of pros plus some legitimate cons.
I covered them all in my guide below, and if you have questions, make sure you pose them in the comment section below.
Happy to answer your queries!
Nikola Roza
Nikola Roza is an affiliate marketer and blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budgets and who still want to carve out a niche online and a better life for themselves. He's also passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here, or read his blog posts and guides here.