A recent study on investing revealed that about 60% of Americans find the stock market intimidating and half are afraid of losing money. These fears may help explain why 41% of Americans don’t have any money invested in the stock market.
Although purchasing stocks is one of the most popular ways to invest, it isn’t the only option. Risk-averse investors may be more comfortable with tangible assets that they can see and touch, such as gold and silver. Precious metals can help diversify your investments and reduce the risk level of your portfolio, giving you greater peace of mind.
If you’ve never invested in gold and silver before, you may be wondering how it works. Luckily companies like Augusta Precious Metals make it easy to get started. They’ll guide you through the investing process step-by-step, whether you want to purchase your precious metals in cash or open a tax-advantaged gold and silver IRA.
To help you decide if Augusta Precious Metals is right for you, here’s a detailed review of the company.
Augusta’s Gold and Silver IRA
One of the investment options that Augusta Precious Metals offers is a gold and silver IRA. It’s a type of tax-advantaged investment vehicle that allows you to buy and hold precious metals. You’ll get all the tax benefits of a regular retirement account while investing your dollars in tangible assets like gold and silver coins.
Who Are Gold and Silver IRAs Best For?
Gold and silver have been used as a form of decoration and currency for thousands of years. Today they’re considered safe-haven assets because their value often remains stable or even increases during tough economic times. As a result, purchasing precious metals is a great way to reduce risk in your portfolio.
If you’re a risk-averse investor who wants to preserve your wealth, gold and silver may be a good option for you. However, keep in mind that many experts recommend limiting gold and silver to 5% to 10% of your portfolio for diversification purposes.
Overview of the Investing Process
If you’re new to gold and silver investing, here’s how the process works. First, you’ll open your IRA with one of Augusta’s trusted custodians, such as Equity Trust. They’re the nation’s leading self-directed IRA provider with over $25 billion in assets under management.
Your customer success agent will help you set up your account and fill out all the necessary paperwork. They’ll also assist you with the next step, which is funding your account. This is usually done by rolling over your existing IRA. You can transfer funds from a traditional IRA, Roth IRA, 401(k), or 403(b).
Finally, you’re ready to buy IRA-eligible gold and silver through Augusta’s order desk. A few examples of coins you can purchase include Canadian Maple Leaf coins, American Eagles, and Australian Striped Marlin coins. The order desk will give you an overview of your investment options so you can pick the right assets for your situation.
Then the confirmation department will call you to confirm your purchase and your order will be shipped to a secure storage facility (such as the Delaware Depository). Your precious metals are insured, so you can rest easy knowing your investment is safe. If you ever want to see your metals in person, you can arrange a visit through your customer success agent.
Ongoing Customer Care
Augusta provides lifetime customer support and even assists customers with making withdrawals. Although the company can’t guarantee they’ll buy your silver and gold back, they haven’t denied any requests to date. So you probably won’t have any trouble liquidating your assets when the time comes.
However, keep in mind that gold and silver are considered long-term investments. It’s usually best to plan on holding your bullion and coins for a while.
Gold and Silver Cash Purchase Program
If you’d rather hold your precious metals outside of an IRA, you may be interested in the gold and silver cash purchase program. Augusta Precious Metals will purchase gold and silver on your behalf and securely ship it to your home. The company offers a variety of products including gold and silver bullion, premium gold and silver, and IRA-eligible coins.
Augusta’s experienced customer support agents will explain your investment options to help you decide what to buy and place your order for you. The company provides free private shipping and has transit insurance to protect your metals until they’re delivered to you, which usually takes 7 to 10 days.
This investment option allows you to take physical possession of your gold and silver and store it in a safe place of your choosing. However, you won’t get any of the tax advantages that a gold IRA provides.
Another important thing to keep in mind is that the minimum investment of $50,000 still applies to cash purchases. Before you can buy precious metals, you’ll need to fund your Augusta account with at least $50,000.
Pros and Cons of Augusta Precious Metals
No Management Fees
A major benefit of opening a gold and silver IRA with Augusta Precious Metals is that you won’t be charged any management fees because the account is self-directed. This means that you’ll be in charge of managing your gold IRA and making investment decisions such as when to sell your precious metals.
Since a financial professional won’t have to oversee your IRA, you won’t be charged any management fees. You’ll only pay a small, one-time fee of $250 for account setup. After that, you’ll owe just $200 per year for storage and custodian fees, making this an affordable investment option.
Robust Customer Education
Although managing your account may seem intimidating, Augusta Precious Metals provides lots of educational resources to help you make good investment decisions. The company has articles and videos that will teach you about important financial topics such as gold IRAs, the precious metals market, the economy, avoiding scams, and more.
You can also sign up to receive a free investing guide or attend a web conference about investing in gold and silver. It’s hosted by Devyln Steele, a Harvard-trained economic analyst who serves as the Director of Education for Augusta Precious Metals. If you need one-on-one support, the company has experienced customer success agents to assist you.
Lifetime Customer Support
That brings us to the next benefit of working with Augusta Precious Metals—lifetime customer support. You can call or email Augusta’s customer success agents if you have any questions about precious metals or want an update on market conditions.
Your agent can also assist you with custodial paperwork and administer purchases and buybacks. Most customers rave about the company’s customer service, so you can rest assured you’re in good hands!
Minimum Investment and Pricing
Whether you’re opening an IRA or making a cash purchase, Augusta Precious Metals requires an investment of at least $50,000. This high minimum may be out of reach for some investors. However, remember that you can roll over an existing IRA to fund your new gold IRA, which makes it easier to pull together the money you need to get started.
Another thing to keep in mind is that you have to call Augusta for pricing information. Since gold and silver prices fluctuate, they don’t list any prices on their website or allow you to buy coins online. This could be a downside for digital natives who prefer to manage their money and investments online.
Why Should You Consider Investing in Precious Metals?
During turbulent economic times, precious metals are often considered a safe haven asset. Investing in gold and silver can help diversify your portfolio because precious metals aren’t strongly correlated with stocks, which means their value doesn’t always rise or fall in conjunction with the stock market.
Gold actually increased in value during the last three U.S. recessions when the S&P 500 fell sharply. As a result, investing in precious metals can help reduce the overall risk of your investment portfolio.
Another benefit of precious metals is that their value tends to rise as much or more than the inflation rate. This makes gold and silver a good hedge against inflation. However, remember that past performance isn’t a guarantee of future results. Although precious metals have a great track record, all investments have some level of risk.
It’s also important to keep in mind that precious metals don’t generate dividends or interest like stocks. With that being said, precious metals are still a solid investment option if you want to diversify your portfolio. Because gold and silver are in limited supply, they’re poised to continue appreciating over time.
Augusta Precious Metals Reviews
Augusta Precious Metals usually gets glowing reviews from customers. On Consumer Affairs, the company received 133 reviews and earned 4.9 out of 5 stars, a nearly perfect score. The company also has an A+ Better Business Bureau rating and earned 4.95 out of 5 stars from 121 customers on the platform.
Reviewers say that Augusta provides lots of support and education to potential customers to help them decide if a gold and silver IRA is right for them. Augusta’s agents are happy to answer questions and don’t pressure you to move forward. Customers also appreciate the fact that Augusta guides you through the account setup and investing process, which is streamlined and efficient.
The company has also received two Stevie Awards for customer service and sales. To learn more about Augusta’s great track record, check out its reviews page.
Would you consider investing in gold and silver? Why or why not? Share your thoughts in the comments!
Read More:
Fearful Investors May Find Safety in Gold – or a Shiny Illusion
Art Investing Now Open to All Offering Inflation Hedge and Diversification
Come back to what you love! Dollardig.com is the most reliable cashback site on the web. Just sign up, click, shop, and get full cash back!
