Goldco vs Augusta Precious Metals: Which One is More Reliable? (2024 Update)
Aditya Mishra
CEO and Founder at Union+Webster | Digital Marketing Solutions and Services | Gold Investor
After reviewing 150+ gold IRA companies and bullion dealers, I can say with certainty that the most contentious point among investors is which company is better: Goldco or Augusta Precious Metals??
If you’re serious about investing, you can get this free gold IRA scam checklist:?
It will help you avoid any potential scams in the complex gold IRA market. Countless investors have found it helpful and I’m certain that you will too.?
Let’s now compare Goldco vs Augusta Precious Metals and see which one fares better:?
Augusta Precious Metals vs Goldco: Overview
While the above table is a great overview, let's delve deeper into the comparison and see which one suits your requirements.
What is Goldco??
Goldco has been a prominent player in the precious metals industry for almost 20 years. The company has been operating in the sector for over a decade. However, that's just slightly higher than Augusta.
However, Goldco has a long-standing presence in the gold industry predating the surge in popularity of gold IRAs. Trevor Gerszt is the founder and CEO of Goldco.
Based on his frequent posts, it is evident that he places great importance on the benefits of having a diversified investment portfolio.
Trevor emphasizes the importance of maintaining a diverse portfolio to safeguard your wealth.
One impressive aspect of Goldco's leadership is that their CEO is a member of the Board of Directors of BBB. Undoubtedly, it demonstrates the high level of trustworthiness possessed by Goldco's leadership.
However, that doesn't imply that APM is lagging behind in any way. They also have highly esteemed leadership.
What is Augusta Precious Metals?
Currently, Augusta Precious Metals is a prominent player in the gold IRA industry. They entered the industry in 2012 and have maintained a strong presence ever since.
The company's CEO and founder, Isaac Nuriani, is highly regarded in the precious metals industry. With years of industry experience under his belt, he is well-equipped to provide expert guidance.
Similar to a financial advisor, the company has a wide range of gold and silver products available. However, their true strength lies in their extensive content library, which is dedicated to educating investors.
Now that you have a good understanding of both of these companies, let's explore some of the similarities they share:
Key Differences Between Goldco and Augusta Precious Metals
Comparing Goldco and Augusta Precious Metals: Analyzing Their Fees
It is crucial to thoroughly examine the fees charged by a gold IRA dealer. Excessive fees can significantly erode your investment returns, making it challenging to achieve satisfactory profits.
Goldco has an annual custodian fee starting at $80, which has the potential to increase based on your portfolio. In addition, there is an annual storage fee of at least $100.
If you decide to use their buyback services, there will be additional fees to consider.
What exactly is a buyback?
Selling back the precious metals products you purchased from a dealer is known as a buyback. Companies that provide buyback services often provide more competitive prices for their own products. This can be a smart strategy, especially in times of unexpected financial need.
Investing in buybacks can help you maximize your returns on precious metals without the inconvenience of searching for potential buyers.
In contrast, Augusta applies a 5% markup on its bullion products. On the bright side, the company is generous enough to waive its setup fee and its annual storage and custodian fees for up to 10 years.
In addition, Augusta does not impose any shipping fees.
It's important to mention that Goldco's fees are slightly higher compared to the industry standard.
Goldco has a slight edge over Augusta due to their more accessible minimum investment requirement. Goldco and Augusta have different minimum investment requirements. Goldco's minimum is $25,000, while Augusta's minimum is $50,000.
Comparing Goldco and Augusta Precious Metals: Evaluating Their Reviews
Similar to the importance of reviewing a gold company's fee structure, it is always advisable to thoroughly examine their online reviews. Augusta once again outperforms Goldco in this section.
Augusta Precious Metals has a clean record on BBB. They have garnered a multitude of positive reviews on consumer platforms such as Trustlink and BBB itself.
However, numerous complaints about Goldco can be found online.
Many customers have expressed concerns about the aggressive approach of their sales team. Indeed, it conveys an unfavorable impression and when you make a direct comparison, it presents a negative image.
Therefore, Augusta Precious Metals outperforms Goldco in this particular area.
However, it is important to mention that both of these companies have garnered a significant amount of positive feedback online.
Reviews of Goldco:
Although Goldco has garnered considerable online praise, there are also a number of complaints lodged against the company.
Goldco has an exceptional A+ rating on BBB and has received numerous positive reviews. Many customers have expressed their satisfaction with the wide range of products available and the excellent customer support provided.
In addition to BBB, Goldco has also received 5-star reviews on Trustpilot. Trustpilot is a widely used consumer platform where users provide feedback on various online businesses.
However, it's worth noting that you may encounter some negative feedback online as well. Many of them prioritize their aggressive sales representatives.
Augusta Precious Metals Reviews:
Augusta has received 100+ reviews on BBB alone. All of them are positive.?
In addition, they boast an A+ rating and hold accreditation with the BBB. Both of these are significant trust factors as the Better Business Bureau maintains strict criteria for granting its accreditation.
And that's not everything.
Augusta Precious Metals has received numerous positive reviews on Trustlink, a well-known consumer platform. The BCA profile boasts an impressive AAA rating, the highest possible on that platform, along with a substantial number of customer reviews.
Undoubtedly, the numerous positive reviews speak volumes about the company's reliability.
Comparing Goldco and Augusta Precious Metals: Product Comparison
Augusta Precious Metals outperforms Goldco in this particular aspect.
Goldco exclusively provides consumers with gold and silver products, whereas Augusta offers a wider range of options including gold, silver, platinum, and palladium.
Platinum and palladium have gained significant traction among investors. Both of them offer investors the opportunity to enhance the diversity of their portfolio in the event that gold or silver underperform.
Being able to incorporate a wider range of investments into your portfolio can be a significant benefit. Therefore, Augusta emerges as the frontrunner in this situation as well.
The majority of their product catalogs are focused on metals that are eligible for IRAs. There are specific guidelines set by the IRS regarding the types of metals that are eligible for inclusion in your IRA. Therefore, both of these companies exclusively prioritize including IRA-eligible precious metals in their product offerings.
Notable Goldco Products:
Goldco offers a wide selection of popular gold and silver coins for investment purposes. They offer a variety of gold products, such as American Gold Eagles and Canadian Gold Maple Leafs.
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Additional notable products include:
Surprisingly, there weren't any Platinum or Palladium products available here. This can be a huge concern for investors because both of these metals are quite popular.
Notable Augusta Precious Metals Products:
As I previously stated, Augusta offers a wide range of products in their catalog, providing ample variety.
Discover a wide selection of IRA-eligible gold and silver products available here. Here are some things to consider:
And countless others.
In their product catalog, you'll also come across platinum and palladium coins and bars. Additionally, Augusta prioritizes client education, ensuring that you gain comprehensive knowledge about the coins that pique your interest.
Comparing Goldco and Augusta Precious Metals: Custodians and Storage
When considering opening a gold IRA, it's crucial to be well-informed about the custodian you choose to invest with.
Typically, the fees and charges you incur are primarily determined by the custodian you choose to work with.
Both Goldco and Augusta collaborate with trusted custodians.
What is an IRA Custodian?
As per the regulations set by the IRS, it is necessary to entrust the storage of your precious metals in a third-party facility that has been approved by the IRS. Your gold IRA custodian will handle the management of your IRA and securely store your precious metals with a trusted storage provider.
There are a few noteworthy storage providers that have been approved by the IRS, such as the Delaware Depository and Brink's. A gold IRA custodian is responsible for safeguarding your precious metals IRA account.
Companies like Augusta and Goldco specialize in assisting individuals in opening a gold IRA account that is both effective and reliable.
Goldco's Custodian and Storage services:
Equity Trust Company is the custodial partner of Goldco. With decades of industry experience, they have established themselves as one of the most prominent names in the field.
Equity Trust Company is based in Westlake, Ohio.
In addition to precious metals IRAs, Equity Trust Company offers clients the opportunity to invest in a variety of alternative investments, such as real estate and currency.
When it comes to storage, Goldco proudly states that it has established partnerships with all of the leading storage providers. This is a great benefit because it allows you to securely store your valuable metals in a nearby vault that is eligible for IRA accounts.
Augusta Precious Metals Custodian and Storage:
Interestingly, Augusta's custodial partner happens to be Equity Trust Company. It's quite impressive that Equity Trust has established strong partnerships with two of the leading gold IRA companies, which speaks volumes about their credibility and reliability.
In addition, Augusta, similar to Goldco, has several storage partners.
Here are some of the storage partners they work with:
Having such a wide range of storage locations is a very positive sign. This demonstrates the commitment of both these companies to providing easy access to precious metals for their customers.
Comparing Goldco and Augusta Precious Metals: More Key Points
While I have analyzed the main areas of comparison, it's worth noting that there are additional differences between these companies.
Firstly, I observed that Augusta's support has been highly praised in many reviews. However, their dedication to client education has received even more acclaim.
If you have any uncertainties or questions regarding gold IRAs, the team at Augusta Precious Metals is here to assist you.
However, I have come across numerous complaints about Goldco and how their sales staff seems to disregard the concerns of their customers. Indeed, this is cause for concern.
Augusta's web conferences are another notable feature. The company offers web conferences to provide customers with a comprehensive understanding of gold IRAs.
That's a benefit you won't find with Goldco.
It's worth mentioning that both of these companies share many similarities. Goldco and Augusta Precious Metals both provide customers with the option to invest in gold IRAs and rollover existing gold IRAs.
In terms of minimum investment requirements, Goldco takes the cake as it only requires $25,000 from you while Augusta requires at least $50,000.?
However, there are other companies with similar expertise that have far lower min. Investment requirements. One company I suggest for those with smaller budgets is Preserve Gold which only requires $10,000 to open a gold IRA.?
Commonly Asked Questions about Comparing Goldco and Augusta Precious Metals
What sets Goldco and Augusta apart from each other?
When comparing Goldco with Augusta Precious Metals, it becomes evident that the former lags behind in terms of fees and product selection. Goldco specializes in offering a limited range of products, specifically gold and silver, to its valued clients.
Additionally, Augusta Precious Metals offers customers a wide range of gold, silver, platinum, and palladium products. By including these precious metals in your gold IRA, you gain greater flexibility and a wider range of investment options.
Is Goldco a trustworthy company?
Indeed, Goldco has established itself as a trustworthy company with over ten years of experience in the industry. With over a decade of experience in the industry, they offer a wide range of gold and silver products to cater to the needs of investors.
Goldco has an excellent reputation with an A+ rating on BBB and has garnered a multitude of positive reviews on consumer platforms such as Trustpilot and BCA.
Is Augusta Precious Metals a reputable company?
Indeed, Augusta Precious Metals is a reputable company. The company has been operating in the industry since 2012 and its leadership consists of a team of experienced professionals.
Augusta (a well-known nickname for Augusta Precious Metals) has garnered a multitude of favorable reviews on reputable consumer platforms. Some of these options include Trustlink, BBB, and BCA. They have a strong reputation for their transparency and have been recognized for it with numerous accolades.
Are personalized advice services available from Goldco and Augusta?
Indeed, both of these companies have garnered significant acclaim for their ability to provide tailored guidance to their clients.
However, I must mention that Augusta excels in providing consumer guidance. While Goldco is known for their professional staff, Augusta takes a different approach by offering dedicated web conferences to its customers.
Attending a web conference allows you to address any uncertainties and make a knowledgeable choice.
Both of these companies have knowledgeable professionals on their staff to assist you in making more informed investment decisions.
What is the typical processing time for Goldco and Augusta when placing an order?
Usually, Goldco and Augusta Precious Metals take a few days to process an order. Processing times for your order can vary due to various factors such as the size of your order, your location, product availability, and more.
Upon reviewing their feedback, it became evident that both of these companies have a strong track record of timely order delivery.
Goldco vs Augusta Precious Metals: Final Thoughts
I trust that the information provided regarding Goldco vs Augusta Precious Metals has alleviated any uncertainties or apprehensions you may have had.
Goldco offers a lower minimum investment requirement. However, Augusta requires a significant minimum investment, yet offers a wider range of products and more competitive fees.
In my professional opinion, I highly recommend choosing Augusta Precious Meta for these reasons.