Augusta Precious Metals Review: Is This Precious Metals IRA Worth It?

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Augusta Precious Metals
  • Editor Rating

  • Rated 4.5 stars
  • Outstanding
  • 5/5 Avg. User Rating

  • Rated 5 stars
  • 1 Review

  • Quality
    Editor: 75%
    User: 89%
  • Customer Support
    Editor: 95%
    User: 88%
  • Pricing & Fees
    Editor: 95%
    User: 84%

Augusta Precious Metals Review Summary:

Impressive track record! In all honesty, we couldn't find any negative feedback about Augusta out there. In fact, out of the 70+ companies we reviewed, Augusta is the only company that actually had zero complaints on sites like the BBB, BCA, Google, TrustLink, Yelp, and others. However, keep in mind that Augusta requires higher minimums, and you'll also be paying higher premiums since the company deals mostly with premium bullion which comes at a higher cost than standard bullion. Their CEO, Isaac Nuriani, told us during our interview that they have learned from the demise of companies like Merit Gold, Metals.com and Goldline and vowed to create the most compliant process in the industry, with a non-commissioned sales floor, and a separate department handling each step of your Gold IRA. They even brought a Harvard economist to the team, Devlyn Steele, to help educate new customers on whether precious metals are right for them.

Disclosure: Our content does not constitute financial advice. Speak to your financial advisor. We may earn money from companies reviewed.  Learn more

Augusta Precious Metals Pros and Cons

Pros

  • Non-Commissioned Sales floor (Rare in the industry)
  • Only gold IRA provider with in-house compliance department
  • Best customer reviews across the board
  • Harvard-educated Economist on staff
  • Perks for High Net Worth customers

Cons

  • High investment minimum ($50,000)
  • High premium on exclusive coins
  • No offerings in platinum or palladium

About Augusta Precious Metals

Augusta Precious Metals arranges precious metals IRAs. Custodianship is provided by partner firms, and various IRS-approved vaults are offered for storage. The firm sells IRA-compatible coins and bars as well as non-IRA collectible bullion.

Founded in 2012, the firm is headquartered in Caspar, Wyoming. It has a satellite office in Beverley Hills, California and a finance office in Tarzana, California.

91% of 44 employees posting on workplace review site Glassdoor would recommend working for the firm to a friend. In our books, this is a pretty significant endorsement. Although some of their competitors have higher employee approval ratings, this rating beats out about 75 to 80% of most companies involved in this space.

Augusta Precious Metals 2022 Reviews, Ratings and Complaints

From 792 reviews across 8 review sites, the firm has received just one poor reviewand that review is from an unverified customer on a review site with no other Augusta Precious Metals reviews.

Although all reviews should be taken seriously, we consider this one to be at best unreliable and at worst a one-off. Augusta Precious Metals otherwise achieves a mean review score of 98% from 7 review sites (791 reviews). Wow. You don’t see a score like that in the gold IRA sector very often. 

Reviews

Ratings

Complaints

The BBB reports that in 2019 a legal issue was resolved involving Augusta Precious Metals and the Minnesota Department of Commerce. Allegations had been made that the firm had sold bullion products above statutory thresholds without registering with the appropriate authority first. An official ‘consent to entry of order’ was authorized. But it is not clear whether the stipulated $3,000 fine was revoked or paid. Note that elsewhere Minnesota State has been accused of ‘over-zealous’ regulation of precious metals investing.

Augusta Precious Metals Philosophy

It is easy for a company to say that it gives customers all the information they need to make a wise decision. But in practice, does it happen?

In Augusta's case, yes. Judging by online reviews, Augusta Precious Metals provides very solid customer education. Every new customer is invited to take part in a one-to-one video call featuring a presentation on the precious metals markets and IRAs by the firm’s Harvard-educated Director of Education Devlyn Steel, followed by a Q&A session. Customer feedback is excellent, as you can see from the recent reviews below from 3 example review sites (other review sites tell the same story):

(Review posted on Better Business Bureau)

(Review posted on Consumer Affairs)

(Review posted on Facebook)

There’s two more areas of evidence that Augusta Precious Metals looks after its customers. 

Firstly, the firm hosts its own compliance department. ‘Compliance’ is a finance function that means standing outside day-to-day operations and checking that everybody is doing things by the book. Investment banks have compliance departments, but we have never heard of a gold IRA provider having one in-house. Thumbs up to Augusta Precious Metals for going the extra mile! 

Secondly, we are assured by CEO Isaac Nuriana that the firm’s sales team do not work on a commission basis. Customers can therefore expect unbiased advice. This is an ultra-high commitment to fair dealings that we do not generally see in the gold IRA providers we review, a good chunk of which operate on a commission basis. 

Augusta Precious Metals Sign-up

Signing up with this Gold IRA provider involves attending a one-on-one call with the Director of Education, signing a legal transaction agreement, picking an IRA custodian, funding your account, and then buying a stash of gold and silver from the company.

(Source: Augusta Precious Metals website)

Augusta Precious Metals Account Minimum

The minimum you can invest with Augusta Precious Metals is $50,000. This positions this firm in the premium range of gold IRA providers. This $50,000 threshold is double the investment minimum stipulated by competitor Goldco, for example, and in a different league to Noble Gold’s minimum of $2,000.

Augusta Precious Metals IRA Custodians

Unlike competitor Regal Assets, this firm does not provide IRA custodianship in-house, but rather outsources it to one of 3 custodians: Equity Trust , Gold Star Trust Company, Kingdom Trust.

(Source: Augusta Precious Metals website)

Augusta Precious Metals IRA Rollovers and Transfers

If you have funds in another IRA or 401(k) account, the firm promises to provide information and assistance for a ‘smooth and worry-free’ rollover/transfer process. Will you need to rollover or transfer your funds?

Augusta Precious Metals Storage

With a gold IRA, you must store your precious metals in an IRS-approved vault. Augusta Precious Metals have IRS-approved vault storage available in Los Angeles, California; Salt Lake City, Utah; Jackson, Ohio; Wilmington, Delaware; New Castle, Delaware; and Springfield Gardens, New York. The firm recommends the Delaware Depository, which is insured up to $1bn by Lloyds of London and fully-authorized for IRS storage (IRC-408n). Competitor Lexi Capital uses the Delaware Depository too.  

Augusta Precious Metals Compliance Department

Augusta Precious Metals has a real stand-out feature in the form of their own compliance department. This team of three includes a chief compliance administrator from outside the firm. This team ensures that everything is done by the book and customer rights are observed.

CEO Isaac Nuriani told us here at the Gold IRA Guide that the firm’s inspiration for having a compliance department was the demise of companies like Merit Gold, Metals.com and Goldline that did not. We say: good work. If only all gold IRA providers had their own compliance teams, customers would have to do a lot less digging to find companies they can trust.

Augusta Precious Metals Website

The website is very easy to use and professionally created. Here at the Gold IRA Guide we do not allow our heads to be turned by flashy presentation. But we appreciate the effort here to make website navigation simple, as well as the up-to-date blog and the clear FAQs. The only thing missing is a comprehensive list of fees.

Free Augusta Precious Metals IRA Guides

(Source: Augusta Precious Metals homepage)

About the Augusta Precious Metals Management

Founder and CEO Isaac Nuriani

Isaac Nuriani, Augusta Precious Metals CEO

Isaac holds an economics degree with honors from the University of California, Los Angeles. He is a member of Ethics.net and the Industry Council for Tangible Assets (ICTA). In his biography, Isaac hints at many years experience working in retirement planning, but no details are provided.

It is noticeable from browsing online reviews that Isaac makes a point of responding to reviewers in person and assuring them of the company’s lifetime pledge of service.

 

(Augusta Precious Metals review posted on Business Consumer Alliance)

98% of 44 employees reviewing Augusta Precious Metals on workplace review site Glassdoor ‘approve of’ their CEO. For more on Isaac, check out CEO Isaac Nuriani’s LinkedIn page.

CFO Howard Smith

Howard Smith, Augusta Precious Metals CFO

Chief Financial Officer Howard Smith is a CPA (certified Public Accountant) and an economics/finance graduate of the University of Toronto. Howard is Augusta Precious Metal’s risk management guy. After two decades working capital markets and banking, he came to the firm in 2018.

His vast experience of risk management from prior jobs with important banks and federal and local governments allows him to bring a strong risk management background to Augusta so that its customers can overcome risks that are threatening their own retirement objectives. As a finance and economics graduate of the University of Toronto, Howard Smith is a certified CPA.

Director of Education Devlyn Steele

Devlyn Steele, Augusta Precious Metals Director of Education

Devlyn is a prestigious player for Augusta Precious Metals. He has sat on the board of various US tech companies and is a member of the Harvard School of Business analytics program.

In his biography, Devlyn is described as being ‘known for accurately predicting the 2008 financial crisis and the subsequent surge in gold and silver prices.’ From online reviews, he certainly impresses customers when they meet him online as part of checking out this firm: ‘no hard pressure, just the facts.’  

Steele uncovers the back story for what is going on behind the headlines in the economy so that customers are able to take action to defend their financial future. He has hosted numerous well-regarded Internet-based conferences that attracted many successful and famous clients, including star quarterback Joe Montana (currently Augusta Precious Metals' ambassador). Steel is also a member of the Harvard Business School's highly regarded business analytics program.

For more on Devlyn, check out his YouTube introduction here.

(Full reviews from Better Business Bureau)

Compliance Administrator Mary Obidinski

Mary is an independent attorney based in Carlsbad, California. She does not list her involvement with Augusta Precious Metals on her LinkedIn page. But we can confirm that she was certainly involved in intellectual property matters for the company in 2018.

Brand Ambassador Joe Montana

(Source: Augusta Precious Metals website)

Ex-NFL quarterback Joe Montana is a paid ambassador for Augusta Precious Metals. He says that, after he retired, he set out to find the best precious metals company in the country. ‘After I reviewed the material and spoke with Augusta’s Director of Education Devlyn Steele,’ he reports, ’I became a customer of Augusta.’

He is not the only one. Customer reviewers online consistently report that meeting with Devyln put their mind at rest that this IRA provider had their interests at heart. We like the fact that Augusta Precious Metals states openly that Joe is paid to be an ambassador.

Augusta Precious Metals Fees

Augusta Precious Metals Service Augusta Precious Metals Fee
One-off IRA set up fee $50 
IRA management None from Augusta Precious Metals; but fees may apply with your chosen IRA custodian
Annual fee for bullion storage in an IRS-approved vault $100

A maximum $5,000 limit applies for credit card purchases of non-IRA bullion.

Augusta Precious Metals Popular Products

There are 50+ individual coins and bars available, divided into five categories:

  1. Common gold bullion
  2. Common silver bullion
  3. Premium gold
  4. Premium silver
  5. IRA Eligible Coins

Prices are not listed online. This is usual for bullion vendors. Why? Because the price of gold and silver bullion changes every day, so pricing must be continually updated.

There is some crossover in categories here. Some coins that are IRA eligible have been listed outside of the ‘IRA Eligible Coins’ category. Confirm with a sales representative that you are buying the right type of coin; with the firm’s verified reputation for looking after clients, it is likely that you will receive good, unbiased advice. Below we give you an idea of what bullion is on offer with 2 hot picks from each product category:

1. Common Gold Bullion

Gold American Eagle (1oz)

Perhaps the most traded gold coin in the world, the gold American Eagle is available with this dealer in 4 different weights. This coin is IRA compatible.

(Source: Augusta Precious Metals website)

Gold Bar (1oz)

The smallest gold ingot available, weighing in at 1 troy oz of 0.9999% pure gold. A 10 oz ingot is also available. This coin is IRA-compatible.

(Source: Augusta Precious Metals website)

2. Common Silver Bullion

American The Beautiful (5oz)

IRA-compatible, this 5oz coin features George Washington on the front and a depiction of National Monuments (effigy mounds shaped like animals) on the back.

(Source: Augusta Precious Metals website)

Silver 90% Bag – $1000 Face Value

Silver dimes and quarters minted pre-1965 to 90% silver and 10% copper. Face value of $1,000: about 715 troy ounces of silver.

(Source: Augusta Precious Metals website)

3. Premium Gold

2014 Canadian Gold Arctic Fox (.25oz)

From the Royal Canadian Mint, with ‘vulpes lagopus’ (arctic fox) on the front and a portrait of Queen Elizabeth II on the back. This coin is IRA-compatible.

(Source: Augusta Precious Metals website)

Australian Striped Marlin

Struck by the Perth Mint, this coin features ¼ of a Troy oz of gold. The Australian Striped Marlin (a type of fish) is shown on the back, with a portrait of Queen Elizabeth II on the front.

(Source: Augusta Precious Metals website)

4. Premium Silver

John F. Kennedy Half Dollar

A collectible coin minted from 1964, featuring ex-US President John F. Kennedy on the front and the Presidential Coat of Arms on the back.

(Source: Augusta Precious Metals website)

2015 Canadian Silver Polar Bear and Cub (1.5oz)

This coin is IRA-compatible. Part of the Wildlife series from the Royal Canadian Mint, this coin comes in tubes of 15. A polar bear and cub are depicted on the front, and Queen Elizabeth II on the back.

(Source: Augusta Precious Metals website)

5. IRA Eligible Coins

Listed are here the most popular picks for IRAs. Note that other IRA-compatible coins are also listed in other sections.

Gold American Eagle Proof

The Gold American Eagle is probably the most well-known gold US coin, featuring Lady Liberty on the front and a bald eagle on the back. IRA-compatible. Available with Augusta Precious Metals in a number of weights.

(Source: Augusta Precious Metals website)

‘Proof’ coins like this are struck with a superior minting process that results in a more detailed image and a mirror-like finish. Although ‘proof’ American Eagles are allowed in your IRA, you might consider sticking with normal American Eagles. That is because you will pay a premium for ‘proof’ coins, but their bullion value is the same as for normal American Eagles.

Buying proof coins for your IRA presents a small element of investment risk: when you come to sell your coin, you may be able to release this premium value but you may not. 

Don’t get ‘proof’ coins confused with ‘uncirculated’ coins either. Although proof coins are generally uncirculated, the industry term ‘uncirculated coin’ refers to a coin that is not minted to the same quality as a proof coin.

Canadian Silver Maple Leaf 1oz

Possibly the Number One choice for silver IRA coins, the Canadian Silver Maple Leaf features a maple leaf on the back and Queen Elizabeth II on the back.

(Source: Augusta Precious Metals website)

If you declare the wrong sort of coin for your IRA, the IRS may treat it as an early ‘distribution’ (ie. withdrawal) and give you a financial penalty. Learn more by checking our guides to gold and silver IRA-compatible coins and bars.

Premium Coins vs Standard Bullion Coins – Understanding the Difference

Deciding which IRS-approved coins to include in your gold IRA can prove a bit daunting, given the number of available coins out there. However, there is an important difference between these two types of coins that must be understood before you make any selection.

Premium Coins

Although IRA-compatible, premium coins are typically part of a collectible series issued by mints, and therefore sold by some companies at higher markups (often 25%+). Premium coins are considered semi-numismatic. They contain the same purity levels as standard bullion coins, yet because they have limited circulation companies are able to charge a much higher premium for these types of coins.

Standard Bullion Coins

For investors desiring a hedge against inflation, market volatility, and a diversified portfolio retirement strategy, standard bullion coins provide the best option. Standard bullion coins usually contain purity levels of 99.99%, thus, are considered the better investment because you are charged a lower premium for these types of coins. Examples of popular standard bullion coins include the American Eagle, the Canadian Maple Leaf, and the Austrian Philharmonic.

Below is a comparison chart to give you a better understanding of the available types of coins.

 BullionProof & Uncirculated coinsCollectibles/Numismatics
IRA Eligible?YesSomeNo
Highest Purity Level?YesYesNo
Scarcity Factor?NoYesYes
High Finishing Quality & Detail?*NoYesSome
Easy to Sell/Liquidate AnywhereYesNoNo
Premium Over Spot When Buying?LowMediumHigh
What you can expect to sell them for?Close to spot price. Usually no or little premium.Spot price + premium based on rarity/age/demand for your coinsSpot price (if they contain some precious metals) + premium based on rarity/age/demand and other factors
Where can you sell them?Any dealer, since they're recognized worldwide and they'll only give you spot price or close.Anywhere, but original dealer would likely be the easiest place. ebay is also a good option if you have rare/in-demand coins.Antique stores, collectors' markets, eBay

Why Get a Gold IRA?

Investors wanting protection against the US dollar collapsing as well as against inflation favor gold IRAs. The self-directed IRA format also brings two key tax advantages:

  1. You don’t pay tax on any profits when you come to sell your precious metals.
  2. You don’t pay tax on any money you invest in your gold IRA.

Before diving into a gold IRA, check with your financial advisor how much of your retirement stash you should dedicate to gold. Aim for a portfolio with a diversified allocation of asset types.

What Alternatives are there to a Gold IRA?

One disadvantage of investing physical gold is that it doesn’t deliver annual dividend payments. Some conventional gold stocks and Exchange Traded Funds (ETFs) do. You can match your physical gold IRA with a self-directed IRA that allows you to invest in stocks and ETFs that may pay dividends, as well as crypto and other financial assets like real estate. Generally IRAs do not allow you to invest in what the IRS calls ‘collectibles’ like paintings, antiques and gems.

Why Get a Gold IRA with Augusta Precious Metals?

If you are looking for a reputable dealer of non-IRA premium coins, Augusta Precious Metals has an excellent reputation. However, the choice of collectibles does not come close to that offered by giant bullion providers like JM Bullion, Kitco and APMEX.

If you are in the market for an IRA, this firm offers firm evidence that it looks after its IRA customers. Existing customers report that members of the sales team steer clear of the hard sell (because they are not on commission). What’s more, the existence of an in-house compliance department shows a real commitment to doing everything by the book. Also, online reviewers are generally blown away by the work of the Customer Education Team led by Harvard-educated Devlyn Steele. 

Newcomers to IRAs, though, may be at a disadvantage here. That is because an investment minimum of $50,000 applies with Augusta Precious Metals. IRS rules state that, if aged under 50 years old, you can only invest $6,000 in your IRAs each year ($7,000 if aged over 50 years old). So, unless you get lucky and an existing IRA investment increases in value massively over a short time, it might take you a minimum of 9 years saving in another IRA before you can transfer or rollover to Augusta Precious Metals. 

Judging by the customer reviews online, it will be worth the wait. But ensure you check out 2 or 3 other providers before you make a decision: browse our 2022 reviews of top-rated gold IRA providers.

Finally, it is worth noting that Augusta Precious Metals outsources custodianship of IRAs. Some investors prefer parking their gold IRA with a one-stop shop like competitor Regal Assets, which acts as custodian for your IRA as well as setting it up, providing bullion to browse and arranging IRS-approved storage.

Contact Us if You Represent Augusta Precious Metals

Here at the Gold IRA Guide, we want our reviews to be as accurate and up-to-date as possible. If you are a representative of Augusta Precious Metals and would like to provide fresh information for our review, please contact us.

Augusta Precious Metals Review Summary

Impressive track record! In all honesty, we couldn't find any negative feedback about Augusta out there. In fact, out of the 70+ companies we reviewed, Augusta is the only company that actually had zero complaints on sites like the BBB, BCA, Google, TrustLink, Yelp, and others. However, keep in mind that Augusta requires higher minimums, and you'll also be paying higher premiums since the company deals mostly with premium bullion which comes at a higher cost than standard bullion. Their CEO, Isaac Nuriani, told us during our interview that they have learned from the demise of companies like Merit Gold, Metals.com and Goldline and vowed to create the most compliant process in the industry, with a non-commissioned sales floor, and a separate department handling each step of your Gold IRA. They even brought a Harvard economist to the team, Devlyn Steele, to help educate new customers on whether precious metals are right for them.

Phone: 844-615-4484
Website: https://www.augustapreciousmetals.com

Editor rating
Rated 4.5 stars
User rating
Rated 5 stars

One comment

    • Quality
      89%
    • Customer Support
      88%
    • Pricing & Fees
      84%
    • Rated 5 stars

    Augusta is the only company I trust for investing in precious metals. I’ve bought several silver coins from them over the years and the service has always been top notch. I highly recommend them for anyone interested in in gold or silver coins or bars.

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