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

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Augusta Precious Metals
Augusta Precious Metals - by, April 1, 2011
5/ 5stars
on
Augusta Precious Metals
  • Global Rating
  • (5)
  • Spectacular
Review Summary :

Impressive track record! Which is the reason we have chosen Augusta as our favorite recommended gold IRA company. In our review of 70+ companies, we were impressed with the ratings and reviews we found for this company on sites like the BBB, BCA, Google, TrustLink, Yelp, and others. This company has many, many positive reviews across the board – and almost all ratings are the highest you can get. 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 no-pressure sales floor, and a separate department handling each step of your Gold IRA in an excellent streamlined process. They even brought a Harvard-trained economist to the team, Devlyn Steele, to help educate new customers on whether precious metals are right for them. You know this company is a winner from hall of fame quarterback and millionaire Joe Montana’s story. He asked his financial team to find the best gold company, they selected Augusta for him, and now he's a customer. He loved the company’s mission so much, he is now their paid corporate ambassador, and you see him all over their marketing materials sharing his story with others. If you choose to work with Augusta Precious Metals, you will not be disappointed.

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Pros:

  • Best ratings and reviews across the board (almost all the highest possible)
  • Endorsed by customer Joe Montana and his financial team
  • Unique one-on-one web conference designed by on-staff, Harvard-trained economist
  • Robust, official in-house compliance department (considers itself “protector” of the industry)
  • Account lifetime service verified by many reviews
  • No high-pressure tactics like some companies
  • Named “Most-Trusted Gold IRA Company”

Cons:

  • High investment minimum ($50,000)
  • Premium coins cost more than bullion
Quick Facts about Augusta Precious Metals
Year Founded:2012
Company Headquarters:Casper, WY
Annual Fees:Variable
Supports 401(k)?:Yes
Supports Roth IRA?:Yes
Crypto Offered?:No
Assets Offered:Gold and Silver
Offers Other Assets?:No
Custodian:Multiple Options: Equity Trust, Goldstar Trust, and Kingdom Trust & others.
Current Promotion:N/A
Supports Home Storage?:No
International Storage?:Yes
Segregated Storage?:Yes
Preferred Storage Location:Several global options
Preferred Storage Vault:Delaware Depository
Reviewed By:Jules B.
Have you purchased products from Augusta Precious Metals? Leave a review!
Augusta is the only company I trust
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.
February 4, 2020, 3:18 pm
Great gold webinars with Devlyn
Augusta's gold webinar was a great way for me to learn more about the process, the economy and whether gold was the right choice for my portfolio. That said, the prices for Augusta aren't the cheapest, so if you are looking for the cheapest gold coins out there, you'd better look elsewhere.
November 26, 2022, 4:26 pm

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About Augusta Precious Metals

Augusta Precious Metals arranges precious metals IRAs and serves as your personal liaison through the process of opening your account and storing your gold and silver. 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.

98% of 48 employees at the time of this writing said they approve of the CEO. And 91% would recommend working for the firm to a friend.  In our books, this is a pretty significant endorsement. This rating beats out about 75 to 80% of most companies involved in this space.

Augusta Precious Metals 2023 Reviews, Ratings and Complaints

From 792 reviews across 8 review sites, the firm has received just one poor review—and that review is from an unverified customer complaining about getting too many emails. Also, it’s on a review site with xfno 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. New customers are invited to take part in a one-to-one video call featuring a presentation on the economy, precious metals 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 Nuriani that the firm’s sales team work under strict guidelines not to use pressure-based sales. Customers can expect unbiased service. 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 rely on pressure-based strategies to persuade customers to buy. 

In fact, Augusta sees itself as “protectors” of the industry, even offering helpful materials to consumers, such as the “15 Bad Reasons to Buy Gold” and “9 Big Gold IRA Dealer Lies” videos.

Augusta Precious Metals Sign-up

Signing up with this gold IRA provider involves getting a personal customer success agent assigned to you, attending a one-on-one web conference designed by the on-staff, Harvard-trained 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 to be stored in a highly secure precious metals depository.

(Source: Augusta Precious Metals)

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 some competitors.

Augusta Precious Metals IRA Custodians

This firm does not provide IRA custodianship in-house, but rather outsources it to a preferred custodian they have vetted on behalf of their customers: Equity Trust.

(Source: Augusta Precious Metals)

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 offer IRS-approved vault storage in Los Angeles, California; Salt Lake City, Utah; Jackson, Ohio; Wilmington, Delaware; New Castle, Delaware; and Springfield Gardens, New York. However, firm recommends the Delaware Depository, which is insured up to $1bn by London underwriters and fully authorized for IRS storage (IRC-408n).

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, Augusta. 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. Augusta tells us that the only fees are $50 for account setup and $100 each per year for both the custodian account and storage (no matter how much gold and silver you purchase).

Free Augusta Precious Metals IRA Guides

(Source: Augusta Precious Metals)

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 account 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 highly regarded analytics program.

In his biography, Devlyn is described as having ‘accurately predicted 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 and multimillionaire Joe Montana (currently Augusta Precious Metals' ambassador).

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)

Former hall of fame quarterback Joe Montana is Augusta Precious Metals’ official corporate ambassador. 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 minds 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. Why did he get involved as an Augusta ambassador? He said he loved the company’s mission and wanted to share the news about this excellent gold IRA provider with other American retirement savers.

All of these reasons demonstrate the quality of this company, and we believe if you choose to work with Augusta Precious Metals you will be very happy with your experience.

Augusta Precious Metals Fees

Augusta Precious Metals ServiceAugusta Precious Metals Fee
One-off IRA set up fee$50 
IRA managementNone 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)

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)

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)

3. Premium Gold

2017 Royal Canadian Mint (.25oz Gold Eagle)

From the Royal Canadian Mint, this premium coin was designed by artist Claudio D'Angelo with a dominating eagle engraved design.  Since 2017, this .9999 fine gold was captivated collectors and investors alike. 

(Source: Augusta Precious Metals)

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)

4. Premium Silver

2021 Royal Canadian Mint (1.25oz Silver Soaring Eagle)

A collectible coin minted from 2021, this Canadian 99.99% pure silver coin has a rare face value of eight CAD and is designed by the talented Julius Csotonyi. 

(Source: Augusta Precious Metals)

2019 Royal Canadian Mint (1.25oz Silver Eagle with Nest)

This coin from the Royal Canadian Mint features Canada's largest bird of prey and North America's only exclusive eagle. It has a distinctive bullion finish on a layered background with excellent textures. 

(Source: Augusta Precious Metals)

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)

‘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 higher price for premium coins, but their melt 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)

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

Why Get a Gold IRA?

Investors wanting protection against the US dollar collapsing as well as against inflation favor gold IRAs. Their reason is usually that physical gold and silver provide effective diversification in times of economic turmoil—or anytime. 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 in 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 gold and silver specialized company, Augusta Precious Metals has an excellent reputation.

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 allowed to use pressure to sell). 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. The educational materials offered by the company make it a great company for newcomers to work with.

Remember that an investment minimum of $50,000 applies with Augusta Precious Metals, and the company says its services are best-suited to those who have already saved at least $100,000 to do a $50,000 gold IRA. 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 a beginner gets lucky and an existing IRA investment increases in value massively over a short time, it might take you a minimum of 9 years of saving in another IRA before you can transfer or roll over to Augusta Precious Metals. 

Judging by the customer reviews online, it will be worth the wait.

Finally, it is worth noting that Augusta Precious Metals outsources the custodianship of IRAs. Precious metals investors appreciate this because it allows the company to work with custodians on behalf of their customers. Augusta serves as your liaison. They do 95% of the custodian and storage paperwork with you to help you understand what you are signing and also make the process easier and possibly quicker.

As you can see, many of the company’s characteristics support them as our choice of a reputable, top-quality firm. Augusta Precious Metals has earned our good opinion!

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
Augusta Precious Metals - by, April 1, 2011
5/ 5stars
on
Augusta Precious Metals
  • Global Rating
  • (5)
  • Spectacular
Review Summary :

Impressive track record! Which is the reason we have chosen Augusta as our favorite recommended gold IRA company. In our review of 70+ companies, we were impressed with the ratings and reviews we found for this company on sites like the BBB, BCA, Google, TrustLink, Yelp, and others. This company has many, many positive reviews across the board – and almost all ratings are the highest you can get. 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 no-pressure sales floor, and a separate department handling each step of your Gold IRA in an excellent streamlined process. They even brought a Harvard-trained economist to the team, Devlyn Steele, to help educate new customers on whether precious metals are right for them. You know this company is a winner from hall of fame quarterback and millionaire Joe Montana’s story. He asked his financial team to find the best gold company, they selected Augusta for him, and now he's a customer. He loved the company’s mission so much, he is now their paid corporate ambassador, and you see him all over their marketing materials sharing his story with others. If you choose to work with Augusta Precious Metals, you will not be disappointed.

Get Info Kit Now
Have you purchased products from Augusta Precious Metals? Leave a review!
Augusta is the only company I trust
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.
February 4, 2020, 3:18 pm
Great gold webinars with Devlyn
Augusta's gold webinar was a great way for me to learn more about the process, the economy and whether gold was the right choice for my portfolio. That said, the prices for Augusta aren't the cheapest, so if you are looking for the cheapest gold coins out there, you'd better look elsewhere.
November 26, 2022, 4:26 pm

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