Augusta Precious Metals Review
Are you tired of watching the economy play games with your retirement savings? The stock market is prone to crashing, the value of the dollar is constantly fluctuating, and things are becoming more and more intangible with the advent of digital media.
A precious metals IRA might be able to soothe your worries. These IRA accounts are specifically tied to gold, silver, and other qualifying metals. Precious metals are tangible, they don't depreciate with inflation, and they tend to have a relatively steady value.
Augusta Precious Metals is a broker that specializes in gold IRA accounts. The company is staffed by teams of experts who can walk you through opening an account, transferring funds, and making purchases.
But what exactly does the company offer? And how trustworthy are they?
Augusta specializes in gold IRA accounts. As such, their entire business model is focused around helping people shift their retirement assets. The customer service team is always ready to answer questions. In fact, the company has hundreds of five-star consumer reviews, plus the BBB gives them an A+ rating.
The three main areas of service are:
Precious Metals IRAs
The IRS has strict regulations about using precious metals as a retirement account. You need to purchase metals that have a certain purity rating and store them in an IRS-approved facility. There's also a lot of paperwork necessary to open the account, transfer the funds, and purchase the metals.
Augusta's team will walk you through the entire process. They handle the majority of the paperwork and interactions themselves, making the purchase as easy as possible for you. You never need to communicate directly with a third party.
When you open the IRA with the company, the assets will be eligible for all the same tax benefits as a normal IRA. You won't need to pay taxes on the income until you start paying dividends in retirement. This allows you to protect your wealth while you're still saving to retire.
Augusta is affiliated with multiple insured and certified depositories. You can choose one to hold your account. Every purchase comes with automatic insurance coverage of up to $1 billion. This means that even if your holdings are stolen or damaged, you can be repaid for them.
The affiliated depositories are located strategically throughout Canada and the US. Most regions in the United States have at least one depository. If you want, you can even visit the facility to look at your purchase in person.
Precious metals IRAs are self-directed. A self-directed IRA is an account that gives full control to the investor. You get to decide exactly what happens to your account in terms of selling and purchasing new assets.
Non-IRA Precious Metals
You can purchase a variety of precious metals using your disposable income and savings. Instead of being held in an accredited IRA depository, the assets can be immediately shipped to you. You can also choose to have them shipped to a depository for safekeeping.
Augusta recommends not storing precious metals in your home. If you open an IRA account, you won't be legally allowed to store the metals anywhere but an accredited facility. But for purchases you make that aren't IRS-related, you have freedom to do whatever you want with the assets.
Purchasing the metals is simple. All you need to do is follow these steps:
Alternatively, you might open a depository account and direct the delivery there instead.
Streamlined Customer Service
Not only is the company staff knowledgeable, but the customer service system is extremely well-designed. There are multiple teams of experts who can handle different aspects of your purchase. Since each team specializes in just one topic, you can rest assured that they know absolutely everything there is to know.
After you create and fund your IRA, Augusta will give you customer support for the rest of your life. You can find out about your account holdings and any changes in your assets whenever you want.
When you call to get started, you will be assigned a personal agent. This individual will handle every detail of your case. You will work with them exclusively, rather than being shuffled from employee to employee. This allows you to establish a rapport and feel comfortable about where you're investing your money.
Your customer agent will help you open your account and do almost all of the paperwork. They'll explain what different forms are and what signing them means. Then they'll guide you through funding your account and making your purchase.
If you have more in-depth questions or concerns, your agent will put you in touch with an expert from one of the other teams. That way, you know you're always speaking to someone who has answers.
The IRA Processing division of the company is responsible for the minutiae of your paperwork. They will get in contact with your chosen custodian, complete all of the necessary arrangements, and get your account set up. That way, you never need to speak to anyone except Augusta employees.
The Portfolio team is made up of experts with a strong background in retirement investments. They will help you create a precious metals portfolio that works best for your current assets, projected growth, risk tolerance, goals, and time frame.
In addition to helping you create your precious metals investment portfolio, the Portfolio team can offer guidance on restructuring or shuffling around your retirement savings. For example, they might have input on which existing funds are the lowest-risk to turn into a new precious metals account.
As you decide on your initial purchase, you might speak to an expert from the Order Desk. These individuals are well versed in the process of purchasing metals online. They can tell you about the different offerings available through the company, answer questions about market value, and finalize your decisions.
After you've created and funded your account, the support doesn't end there. The company has an Economic Analytics team whose job is to keep track of changes in the economy. When you have questions or concerns or just want updates, you can speak to a representative via telephone or webcam.
Since these economic experts are constantly monitoring global economic factors, you have some security against potential threats. If they suspect that your assets might be threatened by certain political or global events, they can notify you. They'll explain their concerns and offer advice for further plans of action.
Fees and Minimum Investments
Augusta's minimum investment threshold is higher than with several other gold IRA companies. Because of this, you should only get started if you have a significant amount of retirement savings or personal capital to spend.
If you open a precious metals IRA account, you will need to fund the account with at least 100,000 dollars. For non-IRA precious metals purchases, you'll need to pay at least 50,000 dollars.
When you set up your account, you'll pay a one-time fee of 50 dollars.
There are ongoing annual fees for storage and custodianship. You will pay the company 80 dollars to communicate with your custodian and make sure your account is maintained. You will also pay 100 dollars for the ongoing secure storage.
That's 180 dollars in annual fees for IRA holders. If you make a non-IRA purchase, you'll only need to pay the storage fee. If you choose not to open an account with a depository - which isn't recommended - then you won't have any annual fees following your initial purchase.
Price of Precious Metals
Augusta offers a variety of gold, silver, and other precious metals through their online brokerage. The prices shift daily depending on how the market fluctuates. Prices might be affected by everything from the value of the dollar to global shipping events.
The company does give you a price match guarantee, so you can be confident that they haven't unfairly marked up the items. Most bullion coins have a brokerage markup of around 5 percent, which is pretty standard.
If your order qualifies, you won't need to pay anything for transit and shipping. Your metals will be shipped in a box that's insured for the entire cost of the purchase. Augusta pays for that insurance as well. The company has never to date had a package lost in the mail.
Who Should Use Augusta Precious Metals
Augusta is a company that's focused on helping clients diversify their retirement portfolios through precious metals IRAs. They also sell large amounts of precious metals through their brokerage.
Almost all of the company's clients are people who want to shift their retirement savings into precious metals. If you've been wanting to open a precious metals IRA, but you've been intimidated by the paperwork and coordination involved, this company takes all of the hassle out of the process.
One important note is that to use the IRA services, you must make a purchase of at least 100,000 dollars. For this reason, the company isn't the best option for younger people and others with few retirement savings.
But on the other hand, if you're nearing retirement and want to secure your assets, Augusta is perfect. By securing your assets in precious metals, you protect them against random economic fluctuations. This can offer a huge sense of security for near-retirees, especially when the economy has been so turbulent in recent years.
The customer service also makes the company great for older people. Your dedicated agent will handle all of your concerns and establish a personal relationship with you. You'll have the opportunity to talk to experts and ask questions and get advice about the future.
What Sets Augusta Precious Metals Apart
Augusta has received unanimous praise from current and past employees, customers, and watchdog organizations alike. The company is rated as being extremely trustworthy and dependable by the BBB and Trustwatch. They are one of the most well-reviewed gold IRA firms in the industry.
The company strives to create lifelong relationships with customers. With some precious metals brokerages, the relationship ends once the transaction is over. But Augusta provides you ongoing market updates, advice, and information. They are also available at all times to answer your questions.
There is also a higher level of efficiency with this company than with many other gold IRA options. Augusta's employee structure is unique. By creating teams of people who specialize in one thing, the company ensures that you're always speaking to someone who understands your exact question.
Since the teams take you through the entire process, guided by your success agent, the account setup and purchase isn't difficult at all. You don't need to have an expert economic background to take control of your retirement savings.
Access to the analytics team is another unique feature. Whenever you need to make new decisions about your retirement portfolio, you can talk to the marketing analysts. They will give you insights based on what they've observed about the current economy.
The company has a high level of trust and integrity. They work hard to make sure that everything is done right and that your purchases are secure. Every IRA account is stored in an accredited facility, and they handle all of the interaction with your custodian for you.
As mentioned, the Better Business Bureau gives the company an A+ rating, the highest score available. The Business Consumer Alliance also gives them the highest possible score, with a rating of AAA.
On TrustLink, the company has a total score of 4.9 out of 5. Google My Business gives the company a cumulative score of 4.8 out of 5.
Augusta Precious Metals is also registered with Ethics.net. This website is the home of the National Ethics Association. People become members when they have businesses that operate with elevated codes of ethics. Augusta has strict standards for advising clients and safeguarding their assets.
Some of the other expert qualifications of the company include:
The company has also been talked about and noted as trustworthy by news sources like CNBC, Forbes, Fox News, and the Wall Street Journal. These media acknowledgements help to set it apart from the crowd.
The 7 Distinct Advantages
When you look at Augusta's website, one of the first things you'll see is the page listing the company's 7 Distinct Advantages. These are the traits that set Augusta apart from industry competitors.
The first is knowledge. Augusta is a family-owned business, and the employees all have decades of combined experience in every financial, marketing, and analytics background you can imagine.
The second is commitment. You experience that right away with your dedicated agent. Since just one person handles your case, you really get to know them. You get the sense that they're committed not just to you, but to your future.
The third is customization. Everyone will have different goals, needs, and assets. The experts will talk to you about what you want, and then they'll make recommendations for your portfolio. These recommendations can help you achieve your long-term goals while mitigating short-term risk.
Simplicity is the fourth value. The entire IRA setup process is extremely simplified. You barely need to do anything except choose your custodian and sign some papers. All of the complicated scheduling, discussion, filing, and transferring is taken care of by the employees.
Similarly, your journey is simple because of your customer agent. If you have a question, you can ask them. They'll then connect you to the exact expert you want to speak to. There's no need to struggle with automated phone trees or guess at the right number to call.
The fifth value is transparency. You know exactly what you're paying in fees and the purchase price right away. Augusta covers shipping, including the cost of insurance for the package. They also offer a price match guarantee, meaning that you can be confident you're getting the best industry offer.
Number six on the list is selection. A wide variety of gold and silver items can be purchased through the marketplace. Your portfolio team and order desk team can work together to compile a purchase that suits you best. This will typically include a combination of stable assets and assets with more potential for growth.
Finally, the last value is respect. Augusta respects every customer and works to serve their goals. They want to secure the future that's right for you.
Getting started is an extremely easy process.
The first step is to contact the company. It's easiest to do this by phone, but you can also use email. As soon as you're in touch, you'll be assigned a customer agent. This person will answer questions and be the individual you talk to throughout the process.
The second step is to meet the economic analysts. This team will talk to you over the phone or a web call. They'll get you up to speed on important happenings with the current global economy.
After finalizing your decision to open an IRA account, the customer agent will refer you to the IRA team. These people will walk you through every step of opening your IRA account. They will handle the majority of the paperwork and all of the third party communication for you.
Finally, when your account is set up and you've transferred your funds, you can talk to the order desk staff. These people will help you finalize your precious metals purchase and then send the purchase to your chosen depository.