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Augusta Precious Metals Review 2022

Gold IRA companies help investors setup self-directed IRAs where they can purchase and hold physical Precious metals using tax-advantaged money from their Retirement accounts.

Because alternative Investments like Gold and Silver are not mainstream, investors typically have limited knowledge about how to invest in them. The most valuable service a Gold IRA company can provide is education and this is where Augusta Precious Metals really shines.

The company offers extensive video and written resources on their website and also has a Harvard-trained economist on staff who provides 1-on-1 teleconferences with prospective clients (that's you). This level of commitment to education is unmatched by other Gold IRA companies.

When you visit Augusta's website there are three resources to familiarize yourself with:

The large video library covering basic economic matters and current financial events that could impact your retirement lifestyle

The Market News blog with timely articles about the latest happenings in the economic world

The Inflation and Retirement calculator which lets you examine how Inflation will affect your desired lifestyle during retirement

There are two videos in particular that you will want to watch. As part of the education process, Augusta exposes the deceptive business practices that are commonly used in the Gold IRA industry. In just 27 1/2 minutes these two videos will teach you how to avoid being ripped-off or deceived when you invest in Precious metals.

10 Gold IRA Dealer Lies

There are 10 mistruths commonly told in the Gold IRA industry. In this 12 1/2 minute video Augusta shares these tall tales with you so you won't be fooled if you hear them. Another lie to be aware of is the claim that proof Coins have greater investor demand and that makes them a good Investment. This is lie #11 - don't fall for it.

15 Bad Reasons to Buy Gold & Silver

Effective salespeople know how to push your buttons in order to make you crack open your wallet and buy whatever they are selling. In the Gold IRA industry there are 15 common stories that aggressive salespeople will use to stoke your fear and motivate you into a purchase decision. In this 15-minute video Augusta tells you what the stories are so you can ignore them.

If you compare several Gold IRA companies you may notice two things that make Augusta Precious Metals unique. One, Augusta has a director of education on staff, and two, you can schedule a 15-minute one-on-one teleconference with this person.

During the teleconference Devlyn Steele explains how you can diversify your Investment Portfolio into Precious metals and why it makes sense to do so. Devlyn is a member of the analytics program at the Harvard School of Business and he has a thirty year background in the economics and financial services sector. If you have $100,000 or more in retirement savings, this teleconference is a valuable resource that you can take advantage of.

Inflation and Retirement calculator

Many investors assume they will retire someday with a comfortable lifestyle but never take the time to plan for how that will happen. With Inflation raging it is more important than ever to have a strategy for maintaining your lifestyle during retirement.

Augusta's Inflation and Retirement calculator shows you how Inflation will affect your retirement savings and cost of living in the future. In the final step the calculator shows you whether you will have money left over each year or will have to spend your savings to afford your desired lifestyle.

Step 1

In the first step of the calculator you enter your retirement savings and an Inflation rate. The Calculate function shows you how the Purchasing power of your savings decreases each year.

By default the calculator uses 15% as the Inflation rate which is considerably higher than the 9.1% rate published by the Bureau of Labor and Statistics (BLS) in June 2022. Think about your recent grocery and gasoline purchases and pick an Inflation rate that reflects your own experience.

Step 2

In step 2 you input the rate of return you are earning on your savings. The default 7.5% rate is quite optimistic - most investors aren't achieving that kind of growth. Input a growth rate that represents what you have experienced over the past few years. The Calculate function now shows you the results of compounding growth on your savings and how Inflation erodes that money year after year.

Step 3

In step 3 you enter your annual living expenses. The Calculate function shows you how Inflation will increase your cost of living in future years.

Step 4

In step 4 you enter your income and the size of your annual raises. The Calculate function now shows you whether you have money left over at the end of each year or if you are dipping into savings to maintain your lifestyle.

Spending some time with this calculator is informative but the results can be sobering. With even 9.1% Inflation the Purchasing power of an Investment Portfolio diminishes quite rapidly. It takes a lot of income to overcome the powerful effect that Inflation has on both savings and cost of living.

In the 15-minute teleconference with Devlyn ask him to explain how diversifying into Precious metals can help you overcome Inflation and maintain your desired retirement lifestyle.

Video library

As part of their education program Augusta Precious Metals produces several informative, high-quality videos each month. These short videos (3 to 7 minutes) cover topics that affect your ability to retire comfortably and maintain your desired retirement lifestyle.

Spend some time browsing these videos and you will realize that Augusta is serious about education. Many of the videos feature the director of education, Devlyn Steele, who shares three decades of economic insight and wisdom.

The library's Education section features the "Economics Made Simple" series covering basic economics. In the Current Events section there are dozens of videos about recent issues that affect our economy.

This video library is a valuable resource whether you are planning your retirement or have already retired. After you watch a few of the videos you will appreciate the commitment that Augusta Precious Metals makes to your education.

Augusta Precious Metals BBB

Whenever we want to evaluate a business, the Better Business Bureau (BBB) is a good place to start. The BBB has been rating businesses since 1912 and their mission is to promote trust in the marketplace.

There are other companies that evaluate businesses but the BBB is the industry leader because they make an attempt to verify that customer reviews are legitimate. Some shady businesses pay people to post favorable reviews as a way of attracting customers. The BBB claims that only 62% of the reviews they receive can be verified, which supports the idea that there are a lot of fake online reviews.

We'll be looking at the BBB profile for Augusta Precious Metals (APM), but you can use this same process for any business you are interested in.

Current Alerts for this Business

Human beings react to red text and that's why the BBB uses it to catch our attention. When we read this alert, however, it becomes obvious that it was placed by Augusta and not the BBB. Augusta is committed to customer satisfaction so they have posted their contact information with an encouragement to contact them before filing a BBB complaint.

Government Actions

The next item in Augusta's profile describes an action the State of Minnesota took against APM for marketing Precious metals inside the State without proper registration. If you review several Gold IRA companies you will see this same action being taken by Minnesota.

The first time we saw this action we did some research and discovered that the Department of Commerce in Minnesota is known for its over-regulation of the Precious metals industry. Many nationwide Coin dealers avoid doing business in Minnesota because of the overzealous Department of Commerce.

A US District Court took action in July 2021 and overruled some of the most unreasonable Minnesota regulations. Based on this action from a Federal court it is clear that the State had overstepped its authority to control the Precious metals market.

The bottom line for Gold IRA investors is that this item in Augusta's business profile is nothing to be concerned about.

The BBB provides two ratings for the companies they evaluate. The main rating is a letter grade from A to F which results from the BBB's proprietary evaluation process. The second rating is a number of stars from 0 to 5 which is just an average of the star-ratings provided in customer reviews. Augusta has a rating of 4.96 stars from 107 reviews. Customer reviews provide valuable insight into how a company operates so reading them is an important part of evaluating a Gold IRA company.

With the exception of Augusta Precious Metals, all of the Gold IRA companies we have reviewed at Gold Well Live have customer complaints filed with the BBB. The fact that Augusta has zero complaints is proof of their commitment to customer satisfaction.

Based on their BBB profile, Augusta Precious metals is the best Gold IRA company we have reviewed. The customer reviews are mostly positive and there are zero customer complaints. Many of the reviews mention the one-on-one webinar with Devlyn Steele and that there was no pressure to buy anything.

As you can see below, Augusta has high rankings from all of the rating agencies. The company has received the "Best of Trustlink" designation for six years in a row and IRA Gold Advisor ranks them as the "Most Trusted" Gold IRA company in America. 

Augusta Gold IRA review

Notice in these BBB customer reviews that they mention the one-on-one teleconference with Devlyn Steele and how they got their questions answered without being pressured to make a purchase decision. These are just a few of the positive reviews that Augusta's customers have given.

Aleta S

03/10/22

I just completed the Augusta's unique Gold & Silver Web Conference and 1:1 session to learn more about a precious metals self-directed IRA. Great information and I especially liked the 1:1 opportunity to ask my questions and learn more. Thank you!

Mitzi B

06/24/22

Augusta Precious Metals is extremely helpful as you navigate the metal IRA industry. I appreciate their patience with all of my questions and concerns. Very customer oriented, do not pressure you to move faster than you want. Always kept in touch as I went through the process, again very patient with questions. Easy to work with, and deliver in good timing.

Ralph K

12/23/22

The initial presentation by Devlyn was done professionally with a great amount of insight into the status of not only the economy of the USA, but of the economy of the world. No hard pressure, just the facts. I would encourage anyone interested in Gold and/or Silver to contact the folks at Augusta Precious Metals for a presentation.

The one-on-one conference with Devlyn is mentioned in many of the customer reviews posted on the BBB website, not just the ones above. This educational opportunity is truly unique within the Gold IRA industry. Another common theme in the BBB reviews is how Augusta provided answers to the customer's questions without applying pressure to make a decision.

Augusta Precious Metals fees

Because of the IRS requirement that the Precious metals in a Gold IRA are stored by a third-party Custodian, there is at least one fee in a Gold IRA that doesn't occur with an IRA holding Stocks, Bonds, and Mutual funds. That fee is paid to the Depository which provides secure storage and insurance for the physical metal.

The fees charged for a Gold IRA are different at each company and some fees depend on the size of your account. All of the possible Gold IRA fees are listed below so you will understand what they are. At Augusta Precious Metals you do not have to pay an IRA setup fee or an IRA management fee. 

IRA setup fee

This is a one-time fee that some Gold IRA companies charge for setting up your self-directed IRA. Augusta does not charge a setup fee.

IRA management fee

This is an annual fee charged by some Gold IRA companies. Augusta believes that you are the manager of your self-directed IRA so they don't charge this fee.

Broker fees

Broker fees, or commissions, are paid to the company that sells you the Precious metals in your IRA. This fee will also be applied when you sell the metal in your IRA. The Broker is typically the Gold IRA company or an affiliated company. 

Depository fee

Depositories provide secure storage for the metal in your Gold IRA. This is an annual fee that covers the cost of storage and insurance. Augusta uses the Delaware Depository company which carries $1 billion in insurance coverage.

Custodian fees

The IRS requires a Custodian for all tax-advantaged Retirement accounts regardless of the assets held in the IRA. An account Custodian ensures that IRS rules are followed and that required paperwork is filed with the IRS. This is an annual fee and some Custodians charge a one-time setup fee.

Obviously, there are a lot of potential fees involved with a Gold IRA and that is one of the common complaints that investors express. Augusta Precious Metals does everything they can to minimize these fees because they want to make physical Gold and the other Precious metals a viable asset class for retirement savings.

One of the ways that Augusta minimizes fees is by not charging either an IRA setup fee or an IRA management fee. Augusta points out that YOU are the manager of your self-directed Gold IRA - you make all of the buy and sell decisions - so it wouldn't be appropriate to charge you a management fee.

Augusta also lowers your cost by not charging you a commission or Broker fee on the metal that you buy and sell.

Listed below are all of the fees you will pay to invest in a Gold IRA with Augusta Precious Metals:

Setup & first year fees

Custodian application fee

Annual Custodian fee

Depository storage fee

Total first year cost:

$50

$100

$100

$250

Recurring annual fees

Annual Custodian fee

Depository storage fee

Total recurring cost:

$50

$100

$200

August Precious Metals Coins

Once you have funds transferred into your Gold IRA account you get to pick the Precious metals products you want to hold. Some of the most popular IRA-approved Gold and Silver Coins are shown below.

At Gold Well Live we recommend that investors purchase the products with the lowest premium over the spot price of Gold. Typically, this means you will be buying bars instead of Coins. Premiums on Gold bars are usually 3 to 5% while premiums on Gold Coins are anywhere from 7% on South African Krugerrands to 38% on American Gold Eagles. If you buy special edition proof Coins you will pay premiums of 70% or more which, in our opinion, is just plain silly. Never buy proof Coins - they are not a good Investment, especially in a Gold IRA.

When you get to the point of selecting products for your Precious metals IRA, ask the Augusta representative which products have the lowest premium over the spot price.

Conclusion

Augusta Precious Metals stands out from the rest of the Gold IRA companies because of its focus on customer education and the fact that the company has zero customer complaints.

There are other Gold IRA companies that claim to emphasize education but they don't have a full-time director of education on staff, much less someone with a Harvard background and thirty years of experience in the financial services industry. When it comes to education, Augusta walks the talk while other companies only talk.

Another factor that separates Augusta from the crowd of Gold IRA companies is their exposure of the common mistruths and fear tactics used to manipulate Gold IRA investors. If Augusta was using these tactics, they certainly wouldn't reveal them to the public.

Whether you invest with Augusta Precious Metals or not, take advantage of the educational resources they offer on their website. The Inflation and Retirement calculator is eye-opening if you are serious about planning for and maintaining your retirement lifestyle. All of the content in the Video Library is professionally produced and the information is top notch. Many of these videos feature Devlyn Steele, the education director.

Besides their focus on educating customers, Augusta Precious Metals goes out of their way to provide the best customer service possible. They work to inform investors about Precious metals and self-directed IRAs until the investor feels comfortable making a decision. This fact is demonstrated in the numerous customer reviews that cite the one-on-one teleconference with Devlyn Steele and mention that they were not pressured by Augusta to make a purchase decision.

At Gold Well Live we review numerous Gold IRA companies and, so far, Augusta is at the top of our list. We encourage you to contact Augusta and schedule the one-on-one conference with Devlyn. He will answer your questions and give you an education on the current state of the World and American economy. While you are with him, ask him how physical Precious metals will help you achieve and maintain your desired retirement lifestyle.

About Me

After the dot com bubble popped I started researching Financial bubbles - how they evolve, how they pop, etc. I quickly realized that Gold is the only real money on planet Earth and in 2002 I bought my first Gold Coin. I've been investing in the shiny stuff ever since - both physical Precious metals and the Mining stocks. I've also studied the Financial markets, trading, Technical analysis, and the endless games that central banks play with fiat currencies. I do my best to share what I've learned with others - that's what you'll find here on Gold Well Live.

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I'm just a good ol' boy from Texas, but I love to talk about the Precious metals. I share my ramblings with subscribers on a regular basis.

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