If you are worried about inflation and your IRA savings, think about diversifying your funds. Here you can read about Augusta Precious Metals IRA gold investment, so keep reading.
First thing first, what is Augusta Precious Metals?
Augusta is a company that helps retirement savers gain peace of mind by diversifying their savings with gold and silver. Their approach is very unique. You will be greeted by a friendly customer success agent—not a salesperson—whose sole purpose is to qualify you and book you a free one-on-one web conference with an on-staff Harvard-trained economist.
So they want to educate you so that you can make an informed decision. When I got in touch with them for the first time, I had the same experience. This is the appointment they scheduled for me as a potential affiliate:
You will have an informational meeting on the economy, inflation, gold and silver, and you will see the same video which they showed me. So you will get a good idea of why you should invest in precious metals in general, and in particular through Augusta.
Where is Augusta Precious Metals located?
Headquarters of the company are in Casper, Wyoming. From what I have seen at their site, they also have a satellite office in Beverly Hills, California.
Is Augusta Precious Metals legit? Can you trust them?
Here is some information you can find about them if you search around. Augusta is A+ rated and accredited by the Better Business Bureau. So if you follow the link, you will probably see the following when you search for Augusta (these are data as of the moment of writing this text):
How about Augusta Precious Metals complaints?
Actually there isn’t any. From the same BBB source you can see that it has never had any customer complaint:
This is not surprising in view of what I have previously mentioned. They have a unique approach and you will be well-informed about everything before deciding about IRA gold investment.
You might want to know what Joe Montana thinks about Augusta Precious Metals, he is one of their best known customers, and ambassador of the company.
From what I can see at Augusta’s site, it was he who found them, and not vice versa. They write that Joe Montana instructed his financial advisors to find the best gold company in the United States, and this is how he ended up at the Augusta Precious Metals. Here are a few words from him directly:
What is physical gold and silver IRA and how Augusta can help
You will have all information available if you download the free guide they offer. Here just a few words. This is about buying IRS-approved gold and silver within a tax-advantaged Individual Retirement Account (IRA). Your precious metals are then stored in a highly secure, insured depository for safekeeping.
But why you would do this? I guess you read the news and know the current situation in the world and understand that there is a potential decline in the value of the U.S. dollar based on global economic weaknesses. This can result in substantial erosion of lifetime savings. Diversifying is a way of preserving your savings.
Augusta is there to be your precious metals company. They are ready to walk you through some simple steps required to open the account and to guide you through required forms to fund your new gold IRA.
What are the benefits of buying gold and silver within an IRA?
This is about owning tangible physical gold and silver and about diversifying your savings. As you probably know, precious metals value is often uncorrelated with other investments.
Having precious metals inside of a self-directed IRA allows their value to grow on a tax-deferred or even tax-free (Roth IRA) basis. A precious metal IRA allows you to make your own purchases and bypass portfolio management fees.
Is it difficult to liquidate a gold IRA?
Actually, it is a very simple process. With the help of Augusta it is easy to arrange a full or partial distribution – in either metals or cash – from your gold IRA.
Augusta can withdraw metals on your behalf and also wire the cash to your custodian. You can also request shipment of metals directly to you through your custodian. Yet another option is to coordinate with your custodian to pick up the metals at the storage facility.
It is best to consult your tax advisor if you plan to make any early withdrawals from a gold IRA because such distribution may result in taxes and penalties unless it is rolled over to another qualified account.
How to get started with Augusta Precious Metals?
It is best to contact Augusta directly. They offer a free guide where you will find out about benefits of owning these alternative assets and they will show you why so many Americans diversify and protect their savings by using precious metals. The picture below is a link to their site, so click to find out more:
How this all works and other questions
A gold IRA provides the same tax advantages as other IRAs, the same rules and tax benefits apply. You can roll over your current IRA, Roth IRA, 401(k), or 403(b) to a gold and silver IRA. You will have all assistance and information from Augusta for a smooth rollover process.
What kinds of precious metals you can invest in within your IRA?
According to IRS rules, you can purchase coins minted by the U.S. government as legal tender. These include American Gold Eagles (1 oz, 1/2 oz, 1/4 oz and 1/10 oz) and American Silver Eagles. There are certain coins minted by other nations as legal tender that are also IRS-approved. Here are some of them:
Augusta’s IRA processing department helps you complete most of the IRA transfer paperwork. They will walk you through all options and you select gold and silver that you want.
After that the confirmation department will contact you on a recorded phone line to finalize and officially confirm your gold and silver order.
Their shipping department makes sure that your precious metals are sent to the appropriate compliant destination. With all this, you have Augusta’s lifetime customer support.
Are there shipping and insurance costs for your purchases?
The answer is no. After you have completed a purchase, Augusta Precious Metals will cover all shipping and liability insurance costs until the moment they are safely delivered to your chosen IRA storage location.
You are only responsible for some modest custodian account setup and depository storage fees.
Are precious metals insured and safe while in private storage?
When you want to invest your life saving in precious metals, you want to have a reliable place to keep them safe. So the answer is yes. They are covered by an all-risk Lloyd’s of London insurance policy, so they are protected against physical damage or physical loss.
Needless to say that these are depositories with a substantial physical security, rigid access-control protocols, and state of the art security systems. You can get some idea if you inspect the depository which they recommend, the Delaware Depository.
Can you actually see your precious metals in your IRA?
The answer is yes. You can make arrangements to visit your selected depository storage facility by directly contacting your custodian.
Where exactly are the private storage facilities located?
As of the moment of writing this text, the storage facilities are available in Los Angeles, Salt Lake City, Jackson, Wilmington, New Castle, and Springfield Gardens in New York. So you can choose the depository most convenient for you. Feel free to contact Augusta for eventually updated list, and for all other questions you might have.
Augusta Precious Metals pros
- Education before investment.
- Transparent purchase information.
- Lifetime customer support.
- Multiple custodian options.
Augusta Precious Metals Cons
- Augusta has a $50000 minimum for orders, pity.
In addition, here is a comparison table that summarizes the main differences between the Augusta Precious Metals and other gold IRA companies, please have a look:
So this was what I wanted to say about Augusta Precious Metals IRA gold investment. I have been in touch with them personally and have been through the online conference with one of their representatives. I can say I am impressed with their approach, and this is summarized in the Pros given above.
It is indeed pity that they set such a high threshold for the gold IRA order. This excludes many potential smaller investors who might want to diversify their life savings. Note that they have an affiliate program so have a look a bit more in my separate text.
Anyhow, thank you for reading. You might want to read also my separate text about transferring IRA to gold and about crypto currencies. Let me know if you have questions or comments, there is a comment box below.