If you’re thinking about investing in gold or silver, especially for your retirement, Augusta Precious Metals is a company that often comes up. They’ve been around since 2012, and they focus mainly on helping people set up and manage precious metals IRAs. They’re all about making sure you’re well-informed before diving into investing.
Who is Augusta Precious Metals?
- Company: Augusta Precious Metals
- Company address: 8484 Wilshire Blvd #515, Beverly Hills, CA 90211
- Company’s phone: (844) 615-4484
- Company’s URL: www.augustapm.com
- Products sold: gold and silver (coins and bars).
- Retirement accounts supported: IRA, 401k, SEP, TSP, and more.
Augusta Precious Metals is a gold investment company that specializes in accounts that are known as precious metal IRAs (see this article to learn more about these accounts). The team behind the company leads with a clear focus on integrity and customer service.
Management Team (Augusta Precious Metals)
Who are the key members of the company?
- Isaac Nuriani – Founder & CEO
As founder of the company, Isaac Nuriani is also its current CEO. With a background in economics, he established the company with a vision to help people diversify their retirement portfolios through precious metals. Nuriani emphasizes educating investors and maintaining transparency, aiming to build long-term relationships based on trust and reliability. - Devlyn Steele – Director of Education
Devlyn Steele plays a crucial role in the company by leading the educational efforts. With over a decade of experience in financial services, Steele is responsible for helping customers understand the market dynamics and benefits of investing in gold and silver. He’s often the face behind the company’s webinars and educational videos, breaking down complex financial topics into understandable insights. - Howard Smith – Chief Financial Officer (CFO)
Howard Smith brings extensive experience to the company in the areas of corporate finance and operations. His focus is on ensuring Augusta maintains a solid financial structure while effectively managing costs and operations. This focus aligns with the company’s mission to provide clear and transparent fee structures to its customers.
Overview of Augusta’s Reputation & Reviews
Here’s a quick overview of the ratings and reviews the company has received from its customers:
- Better Business Bureau: ⭐⭐⭐⭐⭐ (4.94 Stars based on 103 reviews)
- Business Consumer Alliance: ⭐⭐⭐⭐⭐ (5 Stars based on 100 reviews)
- Gold IRA Guide: ⭐⭐⭐⭐⭐ (4.5 Stars based on 2 reviews)
- Consumer Affairs: ⭐⭐⭐⭐⭐ (5 Stars from 143 reviews)
- Google My Business: ⭐⭐⭐⭐⭐ (4.9 Stars from 516 reviews)
- Trustlink: ⭐⭐⭐⭐⭐ (5 Stars from 289 reviews)
- Yelp: ⭐⭐⭐⭐⭐ (5 Stars from 5 reviews)
What Augusta Offers
- Gold & Silver IRAs: This is their bread and butter. They help you roll over your existing retirement accounts (like a 401k) into IRAs backed by physical gold or silver.
- Buying Direct: You can also buy gold or silver directly with cash if you just want to hold onto physical metals.
- Education: One of their key selling points is the way they prioritize educating you about investing in precious metals. They’ve got guides, videos, and even one-on-one webinars.
The Good Stuff
- Focus on Education 📚: Augusta puts a big emphasis on making sure you understand what you’re investing in. They offer in-depth resources and straightforward explanations – keeping you well-informed at every step. Devlyn Steel conducts educational conferences with new investors to explain everything they need to know about their potential gold investment.
- Transparent Fees 💡: No one likes hidden fees, and Augusta seems to get that. They’re pretty upfront about what you’ll be paying, which is super important when you’re dealing with Gold IRAs that have storage and management costs.
- Dedicated Support 👥: You get a personal representative to guide you through the whole process, and a lot of people seem to appreciate having a single point of contact for all their questions.
- Solid Ratings ⭐: They’ve got good ratings across the board from places like the Better Business Bureau (BBB) and Business Consumer Alliance (BCA). This usually means customers trust them and encounter fair treatment.
- Buyback Option: If you ever want to sell your gold or silver, they offer a buyback program, which could be helpful if you need to cash out.
The Not-So-Great Parts
- High Minimum Investment 💰: They require you to invest at least $50,000 to get started, which can be a deal-breaker if you’re not looking to invest a large amount.
- Higher Fees on Premium Coins: Augusta sells both standard and premium bullion coins and bars. Premium coins come at higher premiums (obviously) so be aware of that.
- Limited Options: Augusta focuses only on gold and silver, so if you’re hoping to diversify with other metals like platinum or palladium, you’re out of luck.
- Delivery Delays 📦: During periods of high demand, there have been a few reports of delays in getting physical metals delivered. Not a huge issue, but something to keep in mind if quick access to your assets is important to you.
What About the Fees?
- Setup & Custodial Fees: They’re pretty clear about their fees for setting up and managing your Gold IRA. Still, it’s always a good idea to double-check with them directly.
- Storage Fees: Since your gold or silver is stored securely, there are annual storage fees. They use segregated storage, keeping your assets separate and giving you extra peace of mind.
What Do Customers Say?
- Positive Feedback 👍: Most reviews talk about how transparent and knowledgeable the staff are, and how much they appreciate the company’s educational approach. People feel more confident and well-prepared in their investment decisions.
- Negative Feedback 👎: The main complaints are about the high minimum investment and occasional delivery delays. While these aren’t widespread, some customers mention the issue.
Bottom Line
If you’re looking for a company to help you diversify your retirement savings with gold or silver, Augusta Precious Metals has a good reputation. They’re big on transparency and education, which can be reassuring if you’re new to this kind of investment. Just keep in mind that they have a high minimum investment requirement, and their focus is strictly on gold and silver.
Before making any big decisions, it’s always smart to think about your goals and budget. And, if you’re unsure, a chat with a financial advisor might help you figure out if this fits into your overall strategy.
Augusta Precious Metals – FAQ
1. Is Augusta Precious Metals Legitimate?
Yes, Augusta Precious Metals is a legitimate company with physical offices and thousands of customers. They have a solid reputation for customer education and, perhaps more importantly, transparency. The Better Business Bureau (BBB) as well as the Business Consumer Alliance (BCA) both reflect high ratings for the company which is also ranked well by TrustLink.
2. Pros and Cons of Augusta Precious Metals
- Pros: Strong focus on customer education, transparent fee structure, highly rated customer service, and positive customer feedback.
- Cons: High minimum investment requirement ($50,000), higher premiums on certain coins, limited range of precious metals (primarily gold and silver), and occasional delivery delays reported.
3. What Are the Fees and Prices for a “Augusta Precious Metals IRA?”
Just like any gold dealer, Augusta charges premiums/spreads on the coins and bars you purchase from them. These spreads can range from 5% to 30% (or more!). The exact cost depends on both the rarity and type of coin. Ask about the breakdown of their fees based on the coins and bars you are interested in. Also, when you open an Augusta Gold IRA, there are fees for account setup, storage, and custodial services. You may obtain a waiver on these fees, depending on whether they have a promo when you call them. These annual fees vary but are generally a flat yearly rate ranging between $200 and $300, so it’s essential to confirm with a company representative. Augusta is known for its clear and upfront fee structure, so there are no hidden surprises.
4. Is There a Minimum for Investment with Augusta Precious Metals?
Yes. The minimum investment for an IRA account with Augusta Precious Metals is typically (around) $50,000.
5. Are There Common Complaints With Augusta Precious Metals?
The most common complaints relate to the high minimum investment amount and occasional delays in delivering physical metals during high-demand periods. Some customers also wish for a broader selection of precious metals beyond gold and silver.
6. Is There Free Shipping With Augusta Precious Metals?
Yes, Augusta often provides free shipping for precious metals purchases, particularly for IRA accounts. It’s a good idea to confirm this detail with a representative as promotions can vary.
7. Does Augusta Precious Metals Have A Refund Policy?
Augusta offers a buyback program, allowing customers to sell their metals back at a competitive rate. However, refund policies can depend on market conditions and specific agreements, so it’s essential to discuss this with them directly, BEFORE you place a purchase or open a Gold IRA account.
8. How Does Augusta Precious Metals Compare to Goldco or American Harfford?
Augusta, American Hartford and Goldco all offer Gold and Silver IRAs with a focus on portfolio diversification. Augusta is known for its educational approach and transparency, while Goldco gets recognition for its broad range of products and personalized services. Your investment needs and preferences will dictate your choice. We recommend you contact all of them and compare their prices and offerings.
9. Is There a Lawsuit Against Augusta Precious Metals?
There are no significant public records or updates on lawsuits specifically against Augusta Precious Metals. However, investors should always perform their due diligence and review the company’s history and customer feedback.
10. How Do I Set Up a (Gold or Silver) IRA through Augusta Precious Metals?
To set up an IRA, you’ll need to speak with an Augusta representative who will guide you through the rollover process. They will help you move funds from your existing retirement accounts into a self-directed IRA AND aid in selecting the type of precious metals to hold.
11. Joe Montana and Augusta Precious Metals – How Are They Related?
Joe Montana, the legendary NFL quarterback, is a paid brand ambassador for Augusta Precious Metals. He reportedly became a customer after his financial advisors recommended Augusta, and he has since publicly endorsed the company.
12. Does Augusta Precious Metals Offer Promo Codes or Discounts?
Occasionally, Augusta may offer promotions or discounts on services, but these can vary. Speak to a representative directly about any ongoing promotions.
13. Is it Safe to Invest With Augusta Precious Metals?
Augusta emphasizes security and transparency in its dealings. It’s important to work with a trusted company when dealing with Gold IRA accounts. See this notice from the CFTC to learn more about some of the scams that unscrupulous gold companies have been using to lure investors. They have a compliance department and offer insured and segregated storage options for their precious metals and are generally a trusted name in the industry.
14. How Many Years Has Augusta Precious Metals Been Operating?
Augusta Precious Metals has been operating since 2012, focusing on providing secure and transparent precious metals investment options.
To learn more about Augusta, we recommend that you request their free gold kit.
.
Lauren has over 13 years of experience in wealth management and financial planning. She is a CFA charterholder and holds a Bachelor's degree in Finance. Lauren has worked with several asset management firms, offering wealth advisory and portfolio management services to high-net-worth clients.
