This is a review of a company called Augusta Precious Metals. What is Augusta Precious Metals? Is it for collectors or investors?
Let’s find out!
Product: Precious metals.
Owner: Isaac Nuriani (Founder & CEO)
Price: Depends on your investments.
Who is it for: Precious metals investors
Overall rating: (3 / 5)
Important to mention before we continue with the review:
We always strongly recommend doing your research online before you choose a company to invest in. There are so many reviews online where former clients claim they have been ripped off and scammed. One tricky way companies get away with this is they disguise charges in so-called “hidden fees”.
So always be aware and please, investigate completely before you make your choice when it comes to big investments.
——–>To see the #1 safe and recommended gold custodian, click here!
With that being said, let’s continue with the review!
What is Augusta Precious Metals? – Overview
Augusta Precious Metals is a gold dealer that has been in business since 2012. In six years they have built a good reputation online and made a name for themselves. Augusta Precious Metals is an American family company that has over 40 years of experience in the gold industry. Currently, they only ship within the U.S with an exception to Canada. If you buy precious metals IRAs that are to be stored in depository storage outside of the U.S they will ship your order to Canada. Their headquarters are based in California.
How does it work?
- Search and select the products you want on their website.
- Call Augusta Precious Metals on the phone to get pricing.
- Make a purchase if the price is right.
- Receive the shipping either to your home or at depository storage. (Your precious metals will be shipped 1-3 business days after they have received the funds).
They have a minimum order that is around $5,000.
The products and services offered
- Common Gold Bullion
- Silver Bullion
- Premium gold
- Premium silver
- IRA eligible coins
Augusta Precious Metals have what they call, Augusta Gold IRA, which is a self-directed IRA where you get to choose what metals you want in your portfolio.
They offer a free investor kit if you sign up with your phone number, home address, and email.
What about the fees?
Depending on which depository you choose, the fees differ based on your choice.
How is the support?
The company offers support through phone during office hours Monday to Friday.
Email them at firstname.lastname@example.org
If you want you can keep yourself updated on Augusta Precious Metals through social media. They have their own Facebook account as well as a Twitter and Youtube account where you can get some insight in the business daily.
Online Reviews and ratings from their clients
You should always review and compare different investment companies against each other before you make a final decision.
Below I have listed the most trusted and well-known review and rating sites online to see what score they have given Augusta Precious Metals as this is a good indication of how good the particular company performs and treat their clients:
Score: (4.9 / 5) (based on 234 reviews)
Score: (5 / 5) (6 reviews) (opens in new window)
Any red flags?
I searched an extra mile for this because I could´t believe there was no complaints at all, because in the end of the day, even mother Theresa have haters, right? Have been in this industry long enough to know that pretty much all companies have some complaints, it is hard to make everyone happy…
I managed to find two complaints, one was a bit old (from 2014). The other one (from 2018) was actually VERY SERIOUS… you might want to see for yourself:
Both complaints can be found on a site named RipOff Report:
Here is the first (not so serious one):
In 2014 I responded to an online ad from Augustus Precious Metals about a home storage IRA that they were advertising. I transferred money to them to set up the home storage IRA. I paid them a fee to have it set up and they sent me the gold to store in my safe deposit box. Everything seemed OK until I received an audit letter from the IRS in 2016 stating that the home storage IRA Augustus set up is illegal. I was forced to pay almost $2000 in penalties to the IRS and the IRA Augustus set up was invalidated. In their quest for greed I lost of money for retirement needs. They scammed me into believing that a home storage IRA was legal but it’s not.
Here is the second (more serious one):
Augusta precious metals sent them $ 145,000.00 from my simple IRA to buy gold, ended up with $72,000.00 in gold in my account in 2016 and gold has gone up in price It appears, but I’m not positive that Augusta Precious Metals charged me about twice what the going spot price was for the gold coins that are in my account at Kingdom trust, who is holding the coins for me. beware I don’t want to see this happen to anyone else. I’m 71 and I don’t have away to make this up. I thought i was protecting my small IRA.
(see more details on the RipOff Report site, opens in new window)
Both complaints above are there for anyone to see online, I only present to you what I found that you can find yourself only by performing a simple Google search. Important to mention here is that there can be a possibility that a competitor to Augusta have written those complaints, believe it or not, such things actually happens sometimes.
You might want to know about another company that is top-rated by more independent 3rd party consumer protection agencies than ANY other company in this industry?
Is Augusta Precious Metals A Scam?
No, it is not a scam.
It is a legit company that seems to be doing a good job based on the reviews I found online. They have been around since 2012 are accredited by the Better Business Bureau since 2015. These two factors usually mean they can be trusted and are here to stay for a while.
(You should always make your own research based on the qualities that are important to you before you make your decision).
Are there better alternatives out there?
YES! There are a few ones I would consider better alternatives but the absolute best one I can recommend is; GOLDCO.
Goldco offers precious metals, and Gold IRA to its clients with expert support. They have been in business for over a decade and received great reviews from their customers and gotten great scores on different online review and rating sites. It is easy to get started by going to their website where you find all the information you need to get going.
- Very good reviews.
- Free investment kit
- Not a true gold custodian.
- The complaints
Final words and verdict
Augusta Precious Metals is a family business that believes people should be treated the same way you yourself want to be treated. The Nuriani has over 40 years of experience in the gold industry and wants to help their customers make the right decisions when it comes to buying precious metals. They offer expert advice and customer service and seem to be doing a good job of keeping their clients happy.
This company suits collectors who want to expand their portfolios with some selected coins. For the real investors, I suggest you click on the link below!
Overall rating: (3 / 5)
If You Are Looking For A Company That Has The Full Gold IRA Experience, Check Out The Link Below To My #1 Recommended Company!
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I wish you the best life has to offer!
Investor, writer, and team member of Gold Retired.