At Satori Traders, we applaud Investors who perform due diligence before putting their hard-earned money at risk. We provide Precious metals information for free to help consumers educate themselves. Satori Traders is a fee-only California-registered Investment Advisor. We receive management fees from our clients based on assets under management as detailed in our Investment Management Agreement. We also receive compensation from external companies when we send them referrals. Satori Traders only recommends companies that we have independently researched. The compensation we receive from these companies does not affect our analysis. We would be making the same recommendations without compensation. As a fiduciary and California-registered Investment Advisor, we set very high standards for the companies we associate with or recommend to others. Information that we provide to consumers will not include companies that fail to meet our quality standards. The compensation we receive from external companies may impact how and where those companies appear on our site, including the order in which they appear.
Augusta Precious Metals Review
Augusta Precious Metals, like all the Gold IRA companies, helps investors protect their hard-earned money with physical Gold, Silver, Platinum and Palladium.
The company offers two services:
They sell Precious metals directly to individuals who want to take personal possession of their Investment.
They help individuals establish self-directed IRAs where the investor can buy and hold physical Precious metals using their tax-advantaged retirement savings.
What sets Augusta Precious Metals apart from their competitors is a heavy emphasis on education. Augusta has a Harvard-trained director of education and a staff of IRA specialists available to answer your questions about Precious metals and self-directed IRAs. In addition to this team of experts, Augusta provides these resources and more on their website:
As an indication of their commitment to educating and taking care of their customers, Augusta offers these must-watch videos:
10 Gold IRA Dealer Lies
In 12 ½ minutes this video covers the most common mistruths you are likely to encounter when you interact with Gold IRA companies. Lie #11 is the claim that special edition and proof Coins have greater investor demand when it is time to sell. Watch this video and stay away from special edition Coins – you’ll be glad you did.
15 Bad Reasons to Buy Gold & Silver
This 15-minute video addresses 15 stories you are likely to hear when an aggressive Gold IRA salesperson is trying to push you into a purchase. Know what the stories are so you don’t fall for them and make a fear-based purchase decision.
On top of the already impressive educational resources mentioned above, Augusta Precious Metals offers a 15-minute one-on-one teleconference with their director of education, Devlyn Steele. Devlyn has more than three decades of experience in the financial services and economics industry, and he is a member of the analytics program at the Harvard School of Business. If you have $100,000 or more in retirement savings you can take advantage of this unique opportunity to meet with Devlyn and learn about diversifying your retirement Portfolio into physical Gold and Silver.
In this Augusta Precious Metals review we share the results of our research into Gold IRA companies. Of all the companies we have looked at, Augusta is by far the best overall.
Inflation and Retirement calculator
Augusta’s Inflation and Retirement calculator helps you visualize the effects that Inflation will have on your retirement lifestyle.
To use the calculator, you first enter the dollar amount of your retirement savings and the current Inflation rate. The calculator uses $1,000,000 and 15% * as the default values. When you click the Calculate button the calculator shows you how Inflation erodes the purchasing power of your savings.
* Unfortunately, 15% Inflation is probably more accurate than the 8.3% rate the Bureau of Labor and Statistics (BLS) is publishing as of June 2022. Pick a number based on your recent experience at the gas station and grocery store.
In the next step the calculator lets you input a growth rate for your retirement Portfolio. By default, the calculator assumes 7.5% growth per year but that is a very optimistic value. Unless you are actually experiencing that kind of return on your Investments, pick a lower value and then click the Calculate button. The calculator now displays the purchasing power of your retirement savings based on the combination of Investment returns and Inflation.
Next you enter your annual living expenses and click the Calculate button. The calculator displays how your cost of living will increase each year due to Inflation.
In the final step you enter your annual income and a growth rate for that income. When you click the Calculate button the calculator shows you whether you have a budget surplus or deficit.
Spend a little time playing with this calculator. Whether you pick an 8.3% Inflation rate or something more realistic like 15%, the effect of Inflation is eye-opening. This silent force is relentlessly eroding the Purchasing power of your savings year after year.
If you schedule the 15-minute teleconference with Devlyn, ask him how Gold and Silver can help protect your retirement lifestyle from the ravages of Inflation.
Augusta Precious Metals is serious about helping you understand the economic factors affecting your retirement lifestyle. Spend a few minutes browsing in the video library and this fact becomes obvious.
The company produces several high-quality, informative videos every month. The videos are short (3 to 7 minutes) so you can easily grasp the ideas being presented and many of the videos feature Devlyn Steele who brings three decades of economic savvy to the table.
In the Education section of the library you'll find the "Economics Made Simple" series which covers basic economic principles. Under Current Events are numerous videos addressing the latest issues affecting our economy.
Take advantage of the resources available in Augusta's video library. The company has prepared these videos for you because they care about you and your retirement lifestyle.
Augusta Precious Metals BBB
To start our evaluation we’ll head to the BBB website and search for Augusta Precious Metals (APM). Let’s walk through Augusta’s business profile and discuss each item:
Current Alerts for this Business
Red text is meant to get the reader’s attention and perhaps act as a warning. Notice, however, that this business alert was filed by Augusta, not the BBB. APM is urging customers to contact their customer service department directly and they even provide an individual’s name and phone number. This alert suggests that APM is seriously committed to resolving any dissatisfaction that a customer may be feeling.
The next item we find involves the State of Minnesota taking action against APM for selling Precious metals inside the State without being properly registered. We (Satori Traders) have seen this same kind of action filed against other Gold IRA companies doing business in Minnesota.
Based on our research we discovered that the Minnesota Department of Commerce is known for over-regulating the Precious metals industry. Because of this, many nationwide Coin dealers avoid doing business in Minnesota. In July 2021 a US District Court struck down some of the overzealous Minnesota regulations. This action at the Federal level demonstrates that the State has exceeded its authority in matters involving Precious metals. Bottom line: this item on the APM business profile is not a concern.
There are two ratings provided by the BBB. The primary rating is the letter grade (A to F) based on BBB’s proprietary evaluation methods. A numeric rating (0 to 5) is given based on customer reviews. APM is rated at 4.96 out of 5 based on 107 reviews. Customer reviews are important because these people were motivated enough by their experience, either good or bad, to create a BBB account and provide feedback.
APM has received zero customer complaints in 10 years of doing business. That is a phenomenal record which is unmatched by the other Gold IRA companies Satori Traders has reviewed. We normally tell our readers to focus on negative customer reviews because they provide valuable insight into a company and its business practices. Companies have to respond to customer complaints on BBB or they lose their A+ rating. The fact that there are no negative reviews is another indication that Augusta Precious Metals is a reputable company that is dedicated to customer satisfaction.
Augusta passes the BBB check with flying colors. If you evaluate other Gold IRA companies on BBB you will understand how remarkable it is that Augusta Precious Metals has zero customer complaints. Usually we find at least one negative review from a customer who purchased (or was pressured into purchasing) proof Coins and subsequently lost money when they sold the Coins.
Augusta Precious Metals is highly ranked by all of the rating agencies and has been chosen as "Best of Trustlink" six years in a row. These ratings support and validate the exceptional nature of the Augusta Precious Metals BBB profile.
Augusta Gold IRA review
Let’s take a look now at what some Augusta Precious Metals customers have said in their BBB reviews. Although we don’t have any negative reviews to evaluate, the positive reviews are informative.
Was not pressured
Given the current national and global situation, I had been considering a Precious metals IRA. With Augusta Precious Metals, it was a straightforward process and everyone I spoke with were generous in their time and in answering questions. I felt in control of the decision-making process and was not pressured in any way. They were able to answer many questions in the educational webinar.
Tina K on BBB
No "sense of urgency"
Had a wonderful phone call with Mr. Devlyn Steele on the webinar presentation. He explained the current market in regard to Gold / Silver and has an extensive background in Analytics. He kindly took questions and answers (I had a list) and helped me understand more particulars. Lauran de Winter did a great job in helping prep for the call and follow-up. They focused on information...no pressure, no deadlines, no "sense of urgency". They want the gold Investment decision to be well thought out by the customer.
Arlene E on BBB 03/24/2022
Very impressed with Augusta Precious Metals. I attended the one-on-one video conference with Devlyn Steele, who answered many questions about my uncertainties in the present economic climate. Lauran de Winter was very helpful in guiding me how to move forward with my current IRA and set the ground work for a self-directed IRA to enable me to diversify into owning Gold and Silver. Would not want to work with any other company!
Brian on BBB
Notice that these reviewers cite the value of the 1-on-1 teleconference with Devlyn Steele and that nobody at Augusta pressured them to make a purchase decision.
These Augusta Gold IRA reviews suggest that the company really is committed to educating people about Gold and Silver, not pressuring them into making a purchase decision. It’s one thing to hear Devlyn Steele making that claim – that’s what we would expect from someone in his position. When actual customers say the same thing, however, the claim takes on a stronger air of truth.
Augusta Precious Metals Coins
After you fund your Gold IRA account you will select the Precious metal products you want to hold. Shown below are some of the most popular IRA-approved Gold and Silver Coins but Augusta has other products available.
At Satori Traders we always recommend that investors purchase the most metal possible for the least amount of money. That means you want the products with the lowest premium over the spot price of Gold or Silver. When you are ready to purchase, ask the Augusta representative which products have the lowest premium.
Augusta Precious Metals fees
There are several fees in a self-directed Precious metals IRA that don't occur in a regular IRA holding Stocks, Bonds, and Mutual funds. These fees are related to the physical metal held in the IRA and it is important that you understand them so you aren’t surprised.
Fees vary from one company to the next and the size of your account may affect the fees you are charged. Augusta Precious Metals does not charge an IRA setup fee or an IRA management fee.
Here's a list of the potential fees involved in a Precious metals IRA:
IRA setup fee
This one-time fee, if charged, is paid to the Gold IRA company that helps you establish your self-directed IRA.
IRA management fee
This annual fee, if charged, is paid to the Gold IRA company.
These fees, if charged, are paid to the Broker (typically the Gold IRA company) who sells you the metal in your IRA. Another Broker fee may be charged when you sell. Broker fees may also be referred to as commissions.
The Depository is the secure facility where your Precious metals are stored. Depositories charge an annual fee to cover the cost of storage and insurance.
The Custodian role is required by the IRS for all tax-advantaged Investments. This entity ensures that IRS regulations are followed and required IRS paperwork is filed. Some Custodians charge a setup fee. All Custodians charge an annual fee unless you have a large account (typically over $250,000).
As you can see, that’s potentially a lot of fees. One of the common complaints about Precious metals IRAs is the feeling of being nickel-and-dimed by all the fees. Augusta Precious Metals understands this feeling and does everything they can to minimize the fees that you will pay.
For example, they don’t charge an IRA setup fee or an annual IRA management fee. The company explains that you are investing in a self-directed IRA where YOU are the manager. You make all the buy and sell decisions so it wouldn’t be appropriate to charge you a management fee.
Another way that Augusta lowers your cost of investing is by not charging a Broker fee or commission on the metal that you buy and sell.
Here is a summary of the Augusta Precious Metals fees you will pay:
Setup & first year fees
Custodian application fee
Annual Custodian fee
Depository storage fee
Total first year cost:
Recurring annual fees
Annual Custodian fee
Depository storage fee
Total recurring cost:
Augusta Precious Metals is truly unique within the Gold IRA industry.
Other Gold IRA companies will tell you that they emphasize education, but ask them who their director of education is and listen to the crickets chirp. In contrast, Augusta has a full-time, Harvard trained economist filling this role. Devlyn Steele brings 30 years of economic savvy to Augusta and he is willing to share his expertise in 1-on-1 teleconferences with potential investors (that’s you).
As part of the education process, Augusta exposes many of the mistruths and fear tactics that are commonly used within the Gold IRA industry. Obviously, the company doesn’t engage in any of those tactics or they wouldn’t share with you how the tactics work.
On the Augusta Precious Metals website you will find several valuable resources. The Inflation and Retirement calculator helps you understand how Inflation will affect your retirement lifestyle. In the video library you will find a large collection of high-quality videos covering economic topics and current events. Another source of timely economic information is the Market News Blog.
The educational resources that Augusta offers are quite impressive but that isn’t the only reason to invest with them. In contrast to most of the Gold IRA companies, Augusta Precious Metals has zero customer complaints filed with the BBB. After you research a few Gold IRA companies you will understand how remarkable this is.
Augusta really does care about their customers. They take the time to educate people and answer their questions without applying any pressure to make a purchase decision. When you contact Augusta Precious Metals you don’t have to worry that an aggressive salesperson is going to push you into buying something.
If you have retirement savings that you want to protect, we (Satori Traders) encourage you to contact Augusta Precious Metals. Schedule the 1-on-1 conference with Devlyn Steele and let him answer your questions. Ask him how Precious metals can help you achieve your retirement goals. We hope that this Augusta Precious Metals review has been a helpful part of your research into Gold IRAs.
About Satori Traders
Satori Traders LLC is a California-registered Investment Advisor specializing in the Precious metals.
Bryan V Post is a California-registered Investment Advisor Representative and the founder of Satori Traders.
Bryan has worn numerous hats during his life: Engineer, Portfolio manager, Precious metals Investor, Technical analyst, Proprietary trader, Swing trader.