Last Updated on: 23rd September 2024, 08:34 pm
Impressive track record! Which is the reason we have chosen Augusta Precious Metals as one of our favorite recommended gold IRA companies. 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. Money magazine chose this company as their “Best Overall” Gold IRA Company. Augusta Precious Metals even brought a Harvard-trained economic analyst 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 Precious Metals for him, and now he’s a customer and a big fan. If you choose to work with Augusta Precious Metals, you won’t be disappointed.
Pros:
- Best ratings and reviews across the board (almost all the highest possible)
- Named Money magazine’s “Best Overall” Gold IRA Company
- Endorsed by customer Joe Montana and his financial team
- Unique one-on-one web conference designed by on-staff, Harvard-trained economic analyst
- 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
- Zero fees for up to 10 years, every customer qualifies
Cons:
- High investment minimum ($50,000)
- Premium coins cost more than bullion
JeannaSamira HugginsFounded in 2012, Augusta Precious Metals is headquartered in Casper, Wyoming. They are a “higher-end” gold company that caters to HNW investors and retirees.
98% of 48 employees at the time of this writing said they approve of CEO Isaac Nuriani. 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.
(Note: As of Q3 2024, Augusta Precious Metals is currently offering a FREE gold coin (.1 oz) for anyone who submits a free, no-obligation Gold IRA Investment Guide. To get your free gold, request a gold investment guide here.)
Augusta Precious Metals 2024 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 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 six review sites (1,034 reviews). Wow. You don’t see a score like that in the gold IRA sector very often.
Reviews
Ratings
Complaints
NOTE: 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 Gold IRA 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 more double the investment minimum stipulated by some competitors, such as Noble Gold or Birch Gold.
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. Their preferred custodian, Equity Trust Company oversees over $30 billion in assets and is one of the top-rated companies in the self-directed IRA industry. On Augusta’s website, the company lists 3 custodians: Equity Trust, GoldStar Trust Company and Kingdom Trust. However, their team told us that they can accomodate other IRA custodians as well.
(Source: Augusta Precious Metals)
Augusta Precious Metals IRA Rollovers and Transfers
If you have funds in another IRA or 401(k) account, the firm can provide information and assistance for a ‘smooth and worry-free’ roll over/transfer process. Will you need to roll over or transfer your funds?
Augusta Precious Metals Storage
With a gold IRA, you must store your precious metals in an IRS-compliant vault. Augusta Precious Metals offer IRS-approved depositories 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 authorized for IRS storage (IRC-408n).
According to CEO Isaac Nuriani, over 99% of Augusta Precious Metals customers store their assets on-shore in non-segregated Delware Depository vaults.
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 Precious Metals. 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.
About the Augusta Precious Metals Management
Founder and CEO Isaac Nuriani
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 of 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
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 Metals’ 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 Precious Metals 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 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 hosts numerous well-regarded web conferences that have attracted many successful and famous customers, 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 Precious Metals’ Director of Education Devlyn Steele,’ he reports, ’I became a customer of Augusta Precious Metals.’
He is not the only one. Customer reviewers online consistently report that meeting with Devyln and his team 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 Precious Metals 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 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 |
Note that the company pays up to 10 years of the annual fees for all customers as a thank you for their business.
Regarding markups, most common bullion products have an approximate 5% markup whereas premium products have a 33% markup.
As of 2024, Augusta is also offering an all-new promotion that sends new prospects a free gold coin simply for signing up for the company’s web conference. Absolutely no purchase is necessary to receive the gold coin.
Augusta Precious Metals Popular Products
The website shows 50+ individual coins and bars available, divided into five categorie (others are available through the Augusta Precious Metals Order Desk):
- Common gold bullion
- Common silver bullion
- Premium gold (beware of much higher fees on these ones!)
- Premium silver (beware of much higher fees on these ones!)
- 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 customers, 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 premium 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 consideration: 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 portfolio diversification in times of economic turmoil—or anytime. The self-directed IRA format also brings two key tax advantages:
- You don’t pay tax on any profits when you come to sell your precious metals.
- 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.
If inflation is negatively impacting your current IRA’s performance, you may want to consider Augusta Precious Metals’ free Gold IRA Guide to help weather the storm during periods of high inflation.
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.
Does Augusta Have a Gold Buyback Policy?
Yes, Augusta Precious Metals has a “no quibble” buyback policy for all precious metals items sold through the company. While they cannot guarantee a buyback by law, CEO Isaac Nuriani told us that they have never denied a customer a buyback in the company’s history.
Why Get a Gold IRA with Augusta Precious Metals?
If you are looking for a reputable gold and silver specialized company that offers a high-end white glove service, Augusta Precious Metals may be worth a call.
If you are in the market for a gold IRA, this firm offers firm evidence that it looks after its gold 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-trained economic analyst Devlyn Steele. The educational materials offered by the company make it a great company for newcomers to work with. In particular, the one-on-one web conference is a must-see, and available to everyone who is qualified (has at $100,000 in current retirement accounts).
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 buyers appreciate this because it allows the company to work with custodians on behalf of their customers. Augusta Precious Metals 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 top marks, in our opinion!
See Issues With This Review? Contact us.
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.
Impressive track record! Which is the reason we have chosen Augusta Precious Metals as one of our favorite recommended gold IRA companies. 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. Money magazine chose this company as their “Best Overall” Gold IRA Company. Augusta Precious Metals even brought a Harvard-trained economic analyst 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 Precious Metals for him, and now he’s a customer and a big fan. If you choose to work with Augusta Precious Metals, you won’t be disappointed.
JeannaSamira Huggins