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Investing in precious metals has become a popular option for many investors who want to diversify their portfolios and get high returns. You can decide to buy physical precious metals or invest in a gold individual retirement account. Two of the best-known companies include Goldco and Augusta Precious Metals.
Goldco is one of the most popular gold IRA companies out there, as it offers a massive selection of gold and silver coins that are approved by the IRS. The company has received thousands of 5-star reviews online and offers a high buyback guarantee. Plus, you can get started with $25,000.
Augusta Precious Metals is a top-rated gold IRA company with literally no negative complaints. The company offers top-notch customer service, as all its clients will receive a one-on-one educational session and lifetime support. But the minimum investment amount is $50,000.
In this guide, we will look at Goldco and Augusta Precious Metals and help you choose the ideal option.
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About Goldco
Goldco is a reputable precious metals company that was founded over a decade ago and served customers in all states in the US. The company offers different precious metals, including gold, silver, platinum and palladium, which are compatible with the IRA.
When you sign up with Goldco, you will be assigned a dedicated representative that will listen to you and make suggestions. Their agents don’t use pushy tactics, so you can learn more about their products and make your choice. Goldco has built a great reputation for excellence and has an A+ rating from the BBB.
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About Augusta Precious Metals
Augusta Precious Metals is another top company that was founded in 2012. The company is known for streamlining its IRA set-up process so you get all your services from one place. It provides top-notch client care with individual sessions on video calls, one-on-one customer service and accounts lifetime support. You can always talk to the account representative to know more.
Augusta has been a great company since it was founded and separated itself from other IRA companies. The company has also been rated high by industry regulatory bodies like Better Business Bureau. Despite its fantastic customer service, the company has a pretty high minimum investment amount set at $50,000.
Pros
Cons
Comparison Between Goldco and Augusta Precious Metals
Goldco and Augusta Precious Metals are top companies in the industry, so it might be hard to choose the ideal option. They both sell precious metals to people in the United States with different promotions and buyback guarantees. They also feature an A+ rating from the Better Business Bureau.
Available Services and Investment Products
In terms of their services and products, Goldco and Augusta Precious Metals offer similar options to their customers. Augusta Precious Metals offers precious metals that are compliant with the IRA and allow you to directly purchase gold and silver. You can also rent storage in an IRS-compliant depository.
You can invest in an IRA with Augusta as the company partners with Equity Trust. It is a self-directed IRA provider with over 40 years of experience. The company will serve as a liaison between you and Equity Trust. Augusta Precious Metals will also help you with an IRA rollover. Some of their metals include American Gold Eagles, Gold Canadian Eagles, and Canadian Silver Eagles.
Another feature of Augusta is its gold buyback feature. The company doesn’t have a guarantee, but they have never turned down a request to buy your gold. It offers the best prices for buying precious metals in case you change your mind.
Goldco is known for its extensive selection of gold and silver coins that are approved by the IRA. The company also partners with Equity Trust for its self-directed IRA services. They work with mints around the world, including IRS-approved coins like Gold American Eagles, Gold Canadian Maple Leaf, Silver American Eagle, and Silver American Eagle Proof.
Goldco also has a high buyback price guarantee that you can benefit from. This is guaranteed so you can sell your IRA-approved precious metals back to the company. This is a good choice if you change your mind about holding metals. The company also allows you to get an IRA rollover if you have already opened a traditional account.
Fees and Minimum Investment Amount
Both companies offer flat fees that are pretty affordable. The minimum investment amount for Goldco is $25,000, which is for purchasing gold or silver. You can also avoid paying fees if you invest more than the minimum amount. When opening a gold IRA, Goldco collects a one-time set-up fee of $50 and a $30 wire fee. You will also pay $100 for the maintenance fees.
As for storage, the company offers segregated and non-segregated storage, which goes for $150 and $100, respectively. The fees for gold storage and custodianship change based on the company that you choose to work with. For an IRA, storage fees go from $10 to $60 or the percentage of your assets.
The minimum investment amount for Augusta Precious Metals is $50,000, and this is way higher than other IRA competitors and one of the downsides of the company. If you’ve already had an IRA or 401k, it might not be hard to get up to $50,000.
The company’s fees include the one-time set-up fee of $50, while the annual custodian fee and depository fee are $100 each. There are no hidden fees involved in management, shipping or insurance, and you can expect to pay $200 each year aside from the first year.
Storage and Depository Options
Goldco and Augusta Precious Metals offer different storage and depository options that you can go for when opening your IRA or investing in precious metals.
Goldco features different depository options, including Brink’s Global Services and Delaware Depository. The company usually works with the depository in Salt Lake City, Utah, but there are other locations that you can choose.
You can also store your precious metals with the International Depository Services, as this is another depository with Goldco. This is located in Texas, and this gives you major tax advantages. There is also an option to store your precious metals in segregated vaults for $150 annually.
If you’re working with Augusta Precious Metals, you get access to secured storage services provided by the Delaware Depository. You only get one option, while Goldco offers multiple depositories. The storage is IRS-compliant and allows you to store precious metals, and is available in the US.
The company also has a $1 billion all-risk insurance policy to protect your precious metals. Augusta Precious Metals also allows you to visit their storage facility to see your metals in person.
Customer Service and Education
In terms of customer service, Augusta Precious Metals offers fantastic support that its clients can rely on. It provides top-notch customer support to its clients, even if you have not started investing with them. The lifetime customer support is provided by a team of precious metals professionals.
When you register, you will be assigned a dedicated agent that will help you with the paperwork and other things you might need to know. You can receive one-on-one support and education through video chats and phone. You will be given updates on the precious metals market, and the company can help you manage distributions during retirement.
As for Goldco, the company also has great customer service, although not to the level of Augusta. The company assigns an account executive to each client and personalizes your journey throughout the process. Goldco also features promotions for new customers, so if you invest $50,000, the fees for the first year will be waived.
You also have access to different educational resources like guides and webinars, so you can read a lot of information on the precious metals market. With Goldco, you can open an IRA or start investing in gold with a smooth experience.
Online Reputation
Goldco is a highly reputable precious metals company with mostly positive reviews online. It has received an A+ rating from the Better Business Bureau, with 4.83 stars out of 5. Users on Consumer Affairs have given it 4.8 stars, while Trustpilot features a 4.9 rating instead. There are up to a thousand reviews online, and whenever there is a negative review, the company does its best to solve it quickly.
As for Augusta Precious Metals, the company is so reputable that you can barely find any complaints online. The company has received high ratings, between 4.8 and 4.9 stars, on websites like Trustpilot, Trustlink, and Consumer Affairs. It also has been accredited by the Better Business Bureau and has an A+ rating. The company’s representatives also take care of all complaints once they are posted, which is why there aren’t a lot of reviews.
Similarities Between Goldco and Augusta Precious Metals
Both Goldco and Augusta Precious Metals have some similarities that you should keep in mind. For one, both companies focus on precious metals IRAs. If you want to invest with a company that offers IRAs, then you have both of them at your service. They both offer licensed custodians, use approved storage and meet all the IRS quality standards.
Augusta Precious Metals and Goldco are companies that help you with all the paperwork for a gold IRA. They do all the work, and all you need to do is sign documents. You can also make cash purchases from the two companies that are not subjected to IRS regulations for an IRA.
Goldco and Augusta Precious Metals have impressive reputations online. The companies have been endorsed by different celebrities and talk show hosts. They have been featured in different publications and television networks and have great reviews from past customers.
Which is A Better Option?
Both Goldco and Augusta Precious Metals are leaders in the precious metals industry, receiving great customer feedback and providing a wide range of products. Both companies have different advantages and disadvantages to keep in mind.
Goldco has different benefits over Augusta, especially its low minimum investment threshold set at $25,000, which makes it more accessible to people. It also offers a wider range of precious metals, including platinum and palladium. Goldco has a long experience in the industry, and it takes a short time for them to set up their accounts.
On the other hand, Augusta Precious Metals has a streamlined set-up, so they can easily provide you with precious metals IRAs. They can handle all your paperwork and provide top-notch customer service that you can fully depend on. The company also offers different promotions and will waive your account fees for a certain number of years.
Alternative Gold Investment Company
If you’re unsure about using Augusta Precious Metals and Goldco, you can consider an alternative option instead. American Hartford Gold provides gold and silver IRAs, physical precious metals, and IRA rollovers and transfers. It also has a very low minimum investment amount, so investors on a budget can benefit from this.
American Hartford Gold is a relatively new company in the industry, but it has a large number of positive reviews and ratings and an A+ rating from the Better Business Bureau. You can get started at $5,000 as the minimum investment amount, and the company can waive your fees for three years.
Final Take
If you’re unsure about working with Goldco and Augusta Precious Metals, you should consider their budget since they have different investment amounts. They are both top companies in the industry with a high-quality reputation and have received a lot of attention from organizations. Investing in either company can give you access to quality precious metals IRA services. You can call the customer service of both companies to learn more about their services.