Is Augusta Precious Metals Legit? (2024 Reputation Check)

Finding the ideal gold IRA company that suits your needs and investment goals can be a task. You may have encountered Augusta Precious Metals, a company that gets a fair share of mentions.

But the question you may have is whether or not Augusta Precious Metals is legit.

True to say, we’ve all heard scams out there and the gold industry is no exception. You have to be cautious.

Still, legit companies exist. In this article, you’ll discover details about Augusta’s reputation based on what actual customers and experts say. We'll talk about fees, products, services — all the important stuff you need to know before deciding if they're a good fit for you.

By the end, you'll have a good idea if you feel comfortable going with them or if you need to keep looking. And so, let’s dive in!

What Is Augusta Precious Metals?

In case you're still trying to figure out exactly what Augusta is all about, let me give you a quick overview.

Augusta was started back in 2012 and is based right in Beverly Hills, California. Basically what they do is help new and experienced investors diversify their investments by including precious metals like gold and silver. It always feels good to have some of your money in different places in case something happens with the stock market or whatever.

One thing I really like about Augusta is they don't pressure you at all. And they make sure to give you all the education first before even thinking about becoming a customer.

?When starting out with precious metals, it’s common to be overwhelmed by all the options. But with Augusta, you can just learn about metals on your own time without feeling like you have to commit to anything.

Only after you've gotten comfortable with the ins and outs will they even talk specifics about gold IRA accounts and such. Making knowledge the priority is super smart of Augusta and it lets you truly understand if precious metals are a good fit for your situation or not.

Get a FREE Gold IRA Guide from Augusta HERE

Who Is the Founder of Augusta Precious Metals?

Wondering who exactly is running the show over at Augusta? Well, the guy who started it all, the founder, is Isaac Nuriani. He's been involved in precious metals for years and still serves as the CEO today.

Isaac actually graduated with a degree in economics from UCLA, so he definitely knows his stuff when it comes to finances. But it's not just him — he assembled a really knowledgeable team to help guide customers too.

One of those people is Devlyn Steele, who's their Director of Education. Get this — the guy has over three decades of experience (successfully processing more than $2 billion in financial assets) AND he correctly called the 2008 financial crisis AND the gold and silver boom that followed. Crazy, right?

Because of that track record, Devlyn is a big part of why Augusta has such a great reputation. He's helped so many people protect their money over the years. It's really reassuring to know someone with that level of expertise is there to answer questions.

Augusta Precious Metals Reviews and Ratings: Is It Reputable?

So when first looking into companies to buy precious metals from, you want to make sure you’re dealing with someone you can trust. Augusta Precious Metals appears to have a good track record.

For one, there’s confidence in knowing that Augusta has been around for over a decade now. They must be doing something right to still be in business after all that time.

They've got an A+ rating with the Better Business Bureau. That's the highest score you can get!

And they've been accredited with the BBB since way back in 2012, which means they've been keeping customers happy for a long time. What’s even better is that they have zero complaints on BBB!

I also noticed they get solid reviews on sites like Trustpilot (average of 4.5/5 stars), ConsumerAffairs, and Google Business (the latter two with 4.9/5 stars). People seemed to really appreciate the personalized service and education. No shady complaints that I could see.

For the few 4/5 stars seen on TrustPilot, most reviewers talk about shipping delays. Even though no one likes it when their shipments don’t show up on an agreed date, it can be something out of the company’s control.

So between the glowing BBB rating, positive online reviews, and long track record, I can comfortably say that Augusta has a great reputation. They definitely did their part to earn customers' trust!

Who Endorses Augusta Precious Metals?

So when I was researching Augusta, I thought it was pretty cool to know which big name they've got endorsing them. And it's none other than NFL legend Joe Montana!

I mean, this guy is one of the best quarterbacks of all time. Four Super Bowl wins, and three Super Bowl MVPs - the dude knows how to win. Hearing that he chose Augusta to partner with should say something to you.

Turns out Joe had his people do a ton of research to find the top gold company. And wouldn't you know it, they picked Augusta.

Joe's been working with them ever since as an ambassador. You gotta think if it's good enough for an icon like Joe Montana to get behind, it's probably doing something right.

If you’re someone who listens to guys like that when they recommend something, there you have it!

How Do I Get Started with Augusta?

Alright friend, here are the basics on how to get started with Augusta Precious Metals:

• Give them a call. Talking to a representative is key to figuring out what's best for your situation. They'll ask you questions about your goals and give advice.
• Decide if you want to buy with cash or rollover an IRA/401k. Rolling over lets you avoid taxes and you can use pre-tax dollars. Just be aware of the rules.
• Pick your metals. Gold and silver are popular, but they also have platinum. I'd ask about which ones hold value best as insurance.?
• Choose how you want it stored. At their high-security vault or have it shipped to your home.
• Place your first order. Don't sweat it, reps will walk you through the whole process. You can start with just a few coins or bars to get your feet wet.
• Sit back and let it grow. Check your account online whenever and give your rep a call with any other questions down the road. Over time those metals can increase in value.

The reps truly want to see you succeed with your investments. They make everything very simple and stress-free for the newbie!

What Products Does Augusta Precious Metals Offer?

Looking at Augusta Precious Metals' website, it seems they've got a nice selection of gold and silver options to choose from.

• Common gold bullion: This refers to basic gold bars or coins that are made from pure gold bullion (refined gold ingots). They don't have any special markings, designs, or numismatic value above the gold content. It's a simple way to own physical gold.
• Common silver bullion: Just like gold bullion but made from pure silver. These are plain silver bars and coins that are valued based primarily on their silver weight and purity.?
• Premium silver: Unlike common bullion, premium silver coins have special designs, mintages, or other collectible value beyond just the silver content. Things like commemorative coins from government mints would fall into this category. Over time, some premium coins can potentially appreciate more than generic rounds/bars.
• IRA-eligible coins: Certain gold and silver coins are approved by the IRS to be held in Individual Retirement Accounts. This allows investors to include physical precious metals in their retirement savings by purchasing these coins through a self-directed IRA. The coins must meet specific criteria around purity, minting source, etc. to qualify. It's a way to gain tax benefits while investing in gold and silver for long-term savings.

No matter if you want everyday bullion or something a little more unique, it seems Augusta has you covered when it comes to choosing from gold and silver options.

When I first looked at Augusta's site, I also noticed they only specifically called out gold and silver products. So I decided to reach out directly to Augusta to get some clarification.

However, they told me if a customer expresses interest in platinum or palladium, they have no problem fulfilling those orders. Augusta works with a wide range of private and government mints that allow them to acquire any type of metal a client wants to purchase.

It seems their business model is just to simplify the initial presentation and focus on the core products most people start with - gold and silver. But they assured me their capabilities extend beyond that, and they're ready to help customers looking to invest in platinum or palladium as well.

What Is the Minimum Investment with Augusta Precious Metals?

Augusta Precious Metals has a $50,000 minimum to open a self-directed gold or silver IRA through them. At first, you may be like woah, that’s a lot! But then you’ll realize it's pretty standard in the precious metals space.?

The high bar might scare some people away. Not everyone has 50 grand just sitting around to dump into their retirement.?

While the big minimum does limit their potential customer pool, Augusta is really targeting people who have built up some serious savings over time and are serious about diversifying with gold and silver.

If you've got the funds, you can be sure that Augusta is a good fit. But it’s definitely geared more toward bigger players in the precious metals IRA game.

What Are the Fees Associated with Augusta Precious Metals?

Here are the fees for opening and maintaining a precious metals IRA through Augusta in plain terms:

• Setup fee ($50): This covers the basic work of getting your account established with Augusta. Pretty standard charge.
• Custodian fees ($100 per year): Augusta uses a company called Equity Trust Company to legally hold your metals in the IRA. This is their annual fee for providing that custodian service.?
• Storage costs ($100 to $200 a year): These vary depending on your needs. If you just want your stuff together in one big pile it's $100 (non-segregated storage). But if you pay $200 you can have your specific bars and coins stored separately in their own allocated spots. This individual "segregated" storage gives you easier access if you ever want a particular piece.
• Shipping and insurance: Free! Augusta covers the cost of transporting your metals to and from the vault as well as insuring them in transit. That's a nice perk since some companies charge extra for that.

So in total, you're looking at $50 to open it, then $100 to $200 per year to maintain it depending on your storage preference. Not too bad all things considered.

Still, what I found out is that Augusta can cover your IRA fees for the first year. And can extend it to 10 years for eligible investors!

Can Augusta Refund Your Money or Buy Back Metals?

You’ll notice that Augusta has a few different policies around refunds and buybacks that are good to know about.

For starters, if you're a first-time customer and buy one of their premium gold or silver coins, they give you a full 7 days to change your mind and return it. Within that first week, you can cancel the order and get your money back with no questions asked.

They also have an ongoing metals buyback program (although not guaranteed, they’ve never failed to accept a buyback request). This allows you to sell your gold or silver back to Augusta whenever you need access to cash again.

Obviously, the precious metals market fluctuates daily, so they don't guarantee an exact price. But they will give you a quote to buy it off your hands.

The 7-day return policy protects new customers who might get buyer's remorse. And the long-term buyback option provides liquidity if you decide to sell after some time. Seems like a win-win setup overall if you ever need to pull your money back out.

Conclusion: Should You Invest Using Augusta Precious Metals?

Overall, Augusta is a good option for precious metals investing, but it really depends on your specific needs and preferences. They seem to have a solid, trustworthy business model.?

On the plus side, they make it very convenient to buy, store, and eventually sell your gold and silver. Augusta handles everything from transactions to storage in their vaults. And their buyback program provides easy liquidity if you need cash down the road.?

I also like that their fees are fairly standard across the industry. The setup and annual storage costs are reasonable given the level of service. And their return and buyback policy gives new customers peace of mind.

That said, Augusta is more of a service for individuals and families with more than $100,000 in retirement savings. I believe buying precious metals through Augusta can be a smart diversifier within an investment portfolio.

Get Started with Augusta Today!

Disclaimer: All financial investments involve risk. You should seek advice from a licensed professional to determine if gold is a suitable investment for your unique needs and circumstances. This article contains affiliate links, and I may receive compensation for any purchases or actions resulting from my recommendations, though my reviews remain objective and based on my own experiences.