Clicky

Mitt Wilson

We are a reader-supported website. We may earn a commission from the companies mentioned in this post

Goldco vs Augusta Precious Metals

If you paid attention to how gold and silver performed during the Great Recession, then you know why a diversified portfolio should have them included.

If you ever talk to someone who lived through the 1970s, then have probably heard plenty about how well precious metals did back then.

I can tell you that there’s no question that some of your investments need to be in gold and silver.

Gold IRAs, also known as precious metal IRAs, make it possible to enjoy the advantages of gold investing and IRA tax breaks at the same time. You can make your own contributions or do a rollover from a previous retirement account.

Then, you can invest in gold and silver products, where they stay safely tucked away in a secure depository until you’re ready to liquidate or take your required minimum distributions.

You’ll need a gold broker to set all this up with, and choosing one isn’t always easy.

There are dozens of options, but it’s worth looking at the top names first. Goldco is one of them, and Augusta Precious Metals is another.

I’ve studied both companies quite a bit, and I’m here to provide you with a detailed point-by-point comparison of the two.

Features Comparison: What Goldco and Augusta Precious Metals Offer

The Goldco vs Augusta Precious Metals comparison ideally focuses on the broad features that each company has to offer just as much as diving into the finer points and specific details.

1. Augusta Precious Metals

Augusta Precious Metals
apm
9.5/10Our Score
  • Joe Montana started as an anonymous client before becoming a celebrity endorser
  • Detailed educational materials freely available to all clients
  • Customer loyalty and support last lifetime of the account
  • Services are streamlined for utmost simplicity
  • Very transparent organization
  • Integrity is unrivaled
  • $50,000 minimum investment requirement will put some investors out of play
  • Smaller lots of bars and coins aren't available

As good as Goldco is, you also need to know about Augusta Precious Metals. I easily consider them one of the top five companies, alongside Goldco and others.

Features

Augusta Precious Metals started in 2012. Since then, they’ve been providing clients with numerous ways of diversifying their portfolios and wealth through precious metals.

This company is family-owned with an orientation towards service, and they’ve accumulated a decade of industry experience delivering high-caliber services involving gold and silver products.

Your Augusta Precious Metals investment package couples the advantages of gold and silver precious metals with the tax benefits of an IRA. They also have a marketplace where you can deal in precious metals without an IRA. Also, their customer support is always there for you.

Augusta Precious Metals is a company worth considering if you want to partner up with a reputable precious metals broker that can help you build and preserve your wealth.

Augusta Precious Metals is often renowned for its client education, but that’s not the only thing they hang their hat on. Transparency and streamlined operations are also crucial to their success as a gold IRA broker. You can certainly benefit from all three things.

The streamlined operations save them a lot of money on their overhead. This means they can pass on some of those savings to their clients, and they do. This overlaps well with their transparency because you can see they are not out to nickel and dime you to death.

Their client education is spectacular, however. You’ll always know what’s going on with your precious metals and the industry at large. Granted, other gold IRA brokers also do this, and Goldco has impressive educational assets of their own.

However, Augusta is the one that will actually arrange for you to have meetings with their team of analysts on a personal basis.

IRA

Starting a gold IRA with Augusta is a fairly straightforward process. Their transparent pricing makes it very easy to plan out everything knowing that hidden costs are going to hit you out of the blue.

They offer customized support throughout the entire process.

They do offer price-matching on gold and silver products when it comes time to buy specific metals. However, they only deal in gold and silver. You won’t be dabbling in platinum or palladium with this company.

If you’re doing a rollover of funds from previous retirement accounts that are tax-sheltered, they can help guide you through the process. It should take about two weeks for them to get your funds, buy the metals, and then get them into an approved depository.

Once your account is created, Augusta really shines. They have continuing education for all clients. This happens via online materials but also through personal meetings with Harvard-trained analysts on their staff. It was one of these meetings that convinced Joe Montana to be a client and then spokesperson for the company.

They also make things easy at the end of the account. That’s because they have a buyback program.

If you choose to liquidate your precious metals for cash, a buyback program through your broker means you never have to take physical possession of the metals or find a buyer for them.

Ratings

Augusta Precious Metals has a pretty good track record when it comes to reviews and ratings online. These come from both clients and third-party organizations. Augusta has been in business for a while, but they seem to go years in between specific complaints. They also tend to resolve the ones that happen to client satisfaction.

  • BBB: They get an A+ rating from the Better Business Bureau, and more than 100 BBB users rate them 5/5 on average.
  • BCA: They get an AAA rating from the Business Consumer Alliance, and almost a hundred BCA users average them at 5/5.
  • Google: Google users have offered over 250 reviews that average 4.9/5.0.
  • TrustLink: TrustLink reviewers have placed more than 275 reviews and put them at 5/5 on average.

Overall Average Across Major Rating Platforms: Augusta Precious Metals averages 4.6 out of 5.0.

Pros and Cons

Augusta Precious Metals has a few things going for them, but they’ve also got one or two things you might want to know about that could turn you off.

Augusta Precious Metals Pros

  • Joe Montana started as an anonymous client before becoming a celebrity endorser
  • Detailed educational materials freely available to all clients
  • Customer loyalty and support last lifetime of the account
  • Services are streamlined for utmost simplicity
  • Very transparent organization
  • Integrity is unrivaled

Augusta Precious Metals Cons

  • $50,000 minimum investment requirement will put some investors out of play
  • Smaller lots of bars and coins aren’t available

2. Goldco

Goldco
goldco
9.7/10Our Score
  • New customers might get 10% free metals in silver coins
  • First-year fees might be waived
  • Goldco reps don't get pushy with heavy sales tactics
  • Staff are quite friendly and knowledgeable to new investors
  • This broker wants investors to make good investment choices
  • Minimum investment level stands at $20,000
  • Website not totally transparent about fees

Goldco is who I’ll talk about first. If anything, they’ve earned it just for being in the business longer.

Features

Starting in 2006, Goldco is one of the oldest gold brokers in the precious metals industry. They’re headquartered in Woodland Hills, California.

If they’re known for one thing, it’s setting the industry standard for customer service above all others.

Their service level is often described as a “white glove” in how well they will treat you. That certainly applies to anyone looking to start up a precious metal IRA, but they also treat everyone dealing with precious metals outside of IRAs just as well.

They’ll help you preserve your investments and even grow them with the right metals and products.

Goldco extends its precious metal services across all four potential metals. While nearly everyone in the industry will deal with gold and silver, not everyone also includes platinum and palladium. Goldco does.

Goldco also has established relationships with a number of precious metal custodians and depositories. They utilize these relationships to extend the world-class service they provide to people. You’d be hard-pressed to find any better option that balances customer support, diversity of assets, reliable service, and secure storage.

Goldco is pretty much defined by one thing. That’s customer service. While I’ve already pointed out how central that is to their reputation, I think you should take a moment to consider the actual implications for you.

It’s not an exaggeration to say they’re the best in the business, but they do so in a business where many brokers have excellent customer service. They have to because they’re taking responsibility for tens of thousands of dollars in client retirement funds for the duration of the account.

Trust and respect have to be part of doing business with any gold IRA broker. The customer service at Augusta Precious Metals is extremely good, but Goldco is still king of the hill after all these years of serving clients in the industry. What Goldco really gives you is peace of mind.

IRA

Goldco’s support for you when starting a gold IRA is superb. They will customize things for you and do all they can to make setting up your account as simple as possible.

It might be safe to say that no one in the industry will do more for you when starting an account.

You’ll need at least $25,000 in rollover funds to start an account if you’re funding from a previous retirement account. You’re always free to use your own money, however. They can turn your funds into a physical pile of precious metals in a depository within a week or so.

They let you buy in gold, silver, platinum, and palladium, but they don’t offer price-matching from other competitors. They do have client educational resources available, but not quite to the level of Augusta.

When it’s time to make withdrawals or distributions, they do have a buyback program for simplified liquidation.

Ratings

If you like going through customer reviews and ratings when looking at a business, then that’s easy to do with all the information online. Unfortunately, Goldco has been around long enough that you’ll find thousands of reviews across a number of platforms.

Rather than go through all that information yourself, I’ve done a lot of the legwork for you.

  • BBB: The Better Business Bureau rates Goldco with an A+, and there is no higher rating.
  • Google: Thousands of Google users have provided ratings for Goldco, and they average 4.7/5 over the years.
  • TrustPilot: TrustPilot users have also submitted thousands of their own reviews, and they average 4.8/5.0.

Overall Average Across Major Rating Platforms: Goldco’s average across most major review platforms is 4.8/5.0.

Pros and Cons

Goldco is a great broker, but they’re not totally perfect. I think you should know some pros and cons to know about.

Pros

  • New customers might get 10% free metals in silver coins
  • First-year fees might be waived
  • Goldco advisors don’t get pushy with heavy sales tactics
  • Staff are quite friendly and knowledgeable to new investors
  • This broker wants investors to make good investment choices

Cons

  • Minimum investment level stands at $20,000
  • Website not totally transparent about fees

Fees Comparison

In terms of Goldco vs Augusta Precious Metals, you want either of them to preserve your wealth as precious metals. However, setup costs and annual fees can possibly eat into your savings, regardless of the tax advantages.

Goldco Fees

The Goldco website is surprisingly devoid of useful information about products and services. I’ve looked into them myself, however, and have been able to conclude a number of likelihoods about their prices and fees.

  • You’ll probably pay a one-time creation fee of $50 for your gold IRA.
  • You’ll also face a single-time $30 wire fee.
  • You need a minimum of $25,000.
  • Annual maintenance fees tend to run $80.
  • Segregated storage runs $150 annually, while non-segregated storage will cost you $100 per year.

Augusta Precious Metals Fees

Augusta prides itself in having no hidden fees. They’re actually one of the most transparent gold brokers in the entire industry. Also, the pricing they employ for products and services is very competitive compared to other brokers.

  • You’ll pay an initial $50 fee to establish your account.
  • There is an annual custodian maintenance fee of $80.
  • A yearly depository charge of $100 will apply.
  • You need to invest at least $50,000 in a gold IRA account.
  • Augusta charges spot prices or market rates plus a 5% markup for gold and silver coins or bullion.
  • Transit and shipping are free of charge.

Rollover Comparison

a 401k rollover chart with a stack of dollar bills above it

Many investors turn to gold IRAs when they want to do a rollover of previous retirement account funds into a different asset class.

This is one point of comparison where Goldco vs Augusta Precious Metals are both potential options for you.

Augusta Precious Metals

If you already have a current retirement account, including 401(k) or traditional IRA plans, then you can do a rollover via Augusta Precious Metals to create a new precious metal or gold IRA. You get the option of transferring either some or all of the funds that you have available.

In both cases, you can enjoy traditional IRA tax benefits along with the advantages entailed with precious metal investment.

Also, doing a rollover such as this will help preserve your retirement wealth from negative market events that might impact your portfolio value.

These can include rising costs of living, market downturns, economic instability, and rising inflation.

Goldco

Goldco also lets you do a rollover of other retirement funds. You can also deposit funds directly into your Goldco precious metal IRA.

If you choose to do a rollover from another tax-advantaged retirement account, you can do so from a variety of different account structures.

  • Roth IRA
  • SEP IRA
  • SIMPLE IRA
  • Traditional IRA
  • 401(k)
  • 403(b)
  • Roth 401(k)
  • Roth 457(b)

In Summary

I’ve presented you with a lot of information you can use in your Goldco vs Augusta Precious Metals analysis.

If it’s too much information for you to decide, then I’d advise you to consider the key points about which one might be better for you.

You Should Consider Augusta Precious Metals If…

  1. You have at least $50,000 to invest
  2. Transparent pricing is important to you
  3. You want some of the best client education the industry has to offer
  4. You like doing business with a company with impeccable integrity
  5. Celebrity endorsements, such as Joe Montana, matter to you

You Should Consider Goldco If…

  1. You want to enjoy the best customer service in the business
  2. You only have $25,000 to invest
  3. You want to also deal in platinum and palladium
  4. You prefer doing business with one of the oldest names in the industry
  5. You would like 10% matching in free silver products

Final Thought

If the details don’t make one of them an obvious move over the other, I’d suggest not to worry about it too much.

Both of these gold IRA brokers are easily in the top five for the whole industry.

You won’t go wrong with either one if you can’t decide.

About the Author

Mitt Wilson has a background in journalism and has been writing about investing for more than two decades. In his free time he enjoys spending time with his wife and three children.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}