Is Goldco or Augusta Precious Metals Better?

By Tim Schmidt - UPDATED: October 9, 2024

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Investing in gold and silver can be a great way to safeguard your financial future, even in the face of rising economic uncertainty and stock market volatility. This is one of the reasons the number of precious metals companies offering gold IRAs and similar investments has increased dramatically in recent years.

Many investors see opening a gold IRA account as the best way to hedge their retirement savings against inflation. However, whether or not your gold and silver IRAs will yield any rewards in the future depends on the precious metals dealer you choose to work with.

Today, two gold IRA companies are making waves in the precious metals industry. Goldco and Augusta Precious Metals are great options for any intelligent investor looking to invest in gold and diversify their portfolio.

If you are finding it difficult to choose the right precious metals IRA company to invest with, you are not alone. This is a dilemma faced by many investors around the world. Read on to find out which reputable gold IRA company you should be focusing on in 2024.

What Is Goldco?

Helping individuals diversify their retirement savings portfolios to gold and other precious metals is what Goldco stands for. Many investors consider it one of the top precious metal companies in the country.

The company's dedication to providing personalized service to people interested in gold IRA investing is unparalleled. As such, Goldco has become well known as the go-to solution for any beginner or seasoned investor seeking new precious metal investment options.

>> You can read my full Goldco review to see why I invested with them by visiting this page.  

Founder and Location

Goldco was founded in 2006 by Trevor Gerszt. It was his knowledge of the global economy and love for precious metals that led him to start a company dedicated to giving investors direct access to physical gold, silver, and other precious metals that can be used as part of their retirement savings accounts.

The Calabasas, California-based company, has grown considerably over the last few years and is now well-known around the US.

Mission and Reputation

In response to the growing global economic uncertainty, Goldco aims to provide investors with suitable alternative investments for portfolio diversification.

If you are looking for ways to reduce your risk exposure by diversifying some of the funds you have invested in the stock market, for example, Goldco is the kind of company you will turn to for help.

Many years of consistent and reliable customer service have helped Goldco solidify its reputation and status as a trustworthy precious metals dealer and one of the top gold IRA companies in the country.

Endorsements, Accolades, and Achievements

When it comes to precious metals investments, trust is everything, and the following endorsements from well-known personalities are why Goldco is held in high regard by many investors:

• Ben Stein described Goldco as a dependable and trustworthy gold IRA company with dedicated customer support.
• Gena and Chuck Norris endorsed Goldco as the only company they trusted to handle their gold and silver investments.
• Sean Hannity described how he has diversified a part of his retirement savings portfolio to gold and silver and encourages people to trust Goldco for the investment process.

Years of top-notch services have allowed Goldco to enjoy the following accolades:

• Rated ‘A’ by the Better Business Bureau
• Recipient of the Inc. 5000 Award for seven in a row
• Rated AAA by Business Consumer Alliance
• Received the 2024 Gold Stevie Award as the Fastest Growing Company
• Has more than 6,000 5-star Customer Ratings
• Inc. Magazine ranked it 17th on its list of the fastest-growing private companies in the Pacific region in 2024
• Recognized by Money.com for its customer service

What Is Augusta Precious Metals?

With a specialty in gold IRAs, Augusta Precious Metals stands for more than simply investing in precious metals. It is a reputable company that has helped many investors secure their financial future even amid economic turmoil.

Augusta Precious Metals has a strong history full of success stories of people who made the wise choice of diversifying a part of their retirement accounts to gold and silver IRAs.

You can see a more thorough Augusta Precious Metals review here.  

Founder and Location

Founded by Isaac Nuriani 12 years ago, Augusta Precious Metals is a gold IRA company designed to provide opportunities and educational resources to anyone interested in diversifying to precious metals IRAs.

It is a one-stop shop where you can learn all about portfolio diversification, minimum investment requirements, selection of precious metals, IRS regulations, and much more.

Augusta Precious Metals is located in Casper, Wyoming. However, with a strong internet presence, this gold IRA company can easily reach customers across the US.

Reputation and Mission

With trustworthiness being such an important factor considered by investors when choosing the best gold IRA company for their needs, Augusta Precious Metals has built a lasting reputation as an honest and reliable precious metals dealer.

It remains focused on educating would-be investors about the benefits and risks associated with investing in precious metals and is ready to guide its customers through the investment process.

Endorsements and Media Mentions

One of the most famous names that have backed Augusta Precious Metals as a great precious metals IRA company is retired NFL quarterback Joe Montana.

Thanks to the solid football career he has had, it is no surprise that many investors are quick to trust the word of such a highly experienced professional when he says Augusta Precious Metals is his number-one choice when it comes to investing in gold, silver, and other precious metals.

As recently as 2023, Augusta Precious Metals was mentioned by Money Magazine as the best gold IRA company. This has helped boost its appeal among the millions of people who look to this magazine as a guide through their investment journey.

Educational Commitment

Considering the important role precious metals play in securing retirement savings, information about the investment process can sometimes be hard to come by.

This is something Harvard graduate Devlyn Steele is determined to rectify. He has helped set up videos, articles, and webinars on the Augusta Precious Metals website to provide essential customer education to all investors ready to make the switch to gold and silver IRA investing.

Comparison: Augusta Precious Metals Vs Goldco

Considering the stellar reputation that each of these gold IRA companies has, it can be difficult to decide which option to choose for your precious metal IRAs.

However, a closer look at each company reveals some subtle differences that may show you which option is better suited to your financial goals.

In a nutshell, Augusta Precious Metals is focused on customer education above all else, while Goldco is dedicated to making your first steps into the gold IRA industry as easy as possible.

The following is a look at some of the key elements that set Augusta Precious Metals and Goldco apart:

Services

Customer satisfaction is one of the main targets for any company in the gold IRA space. Investors are always looking for ways to purchase precious metals as easily and securely as possible. Consider the following:

Goldco

One of the main services offered by Goldco is to simply help customers add physical gold, silver, platinum, and palladium products to their retirement accounts.

The company has some great buy-back programs that allow customers to rest assured that they can easily offload their precious metals to Goldco in case they need access to emergency funds.

While not known for its extensive educational resources, Goldco still provides adequate support to customers who want to learn more about gold IRAs.

When it comes to storage, Goldco ensures that your precious metals are kept in a secure facility that meets the strict requirements of the IRS.

Augusta Precious Metals

Augusta Precious Metals is set up to handle gold IRAs and offers a wide range of precious metals for customers to choose from.

However, providing educational resources forms the backbone of the company, meaning this is the place where you are most likely to receive helpful one-on-one advice about investing in a gold IRA.

While Augusta Precious Metals does not guarantee that it will buy gold back from its customers, it will teach them how to effectively sell precious metals on the market.

All precious metals investments that are part of its customers' gold IRAs are kept in an IRA-approved storage facility, such as the Delaware depository in Wilmington.

Products

When you invest in a gold IRA, it is important to have access to a wide range of precious metals. Investing in gold bullion alone may increase your exposure to risk if the market turns against gold prices.

As such, consider the following products offered by Goldco and Augusta Precious Metals:

Goldco

With Goldco, you will have access to various precious metals, the option to open a gold IRA, and access to direct sales of metals on the market.

Types of Metals Offered

On the Goldco website, you will find a variety of physical gold, silver, platinum, and palladium products to choose from.

Gold and silver are the most popular options, especially for new customers, and these can be acquired from Goldco in the following products:

• American Gold Buffalo
• Silver First Moon Landing
• Gold American Eagle
• Silver Great Barrier Reef
• Gold American Eagle Proof
• Silver Maple Leaf
• Canadian Gold Maple Leaf
• Silver American Eagle

Platinum and palladium products are not as popular as the other two, but Goldco still provides access to these if you want to diversify your existing retirement accounts even further.

Precious Metals IRA

Opening a precious metals-based retirement savings account is probably the reason you started looking for the best gold IRA companies in 2024.

Goldco has extensive knowledge of the IRS regulations that govern everything to do with investing in gold and other precious metals for your retirement. This gold IRA company is set up in a way that makes it easy to simply choose the metals you want and add them to your existing IRA.

Direct Sales

If, for example, you have reached your maximum IRA investment amount but still want to invest in physical metals, Goldco provides a path to direct ownership by selling to all its customers.

Augusta Precious Metals

Augusta Precious Metals places a slightly lower emphasis on the buying and selling of precious metals in favor of a more customer-education-based approach. However, you will have all the tools you need to open a gold IRA account.

Types of Metals Offered

As with Goldco, Augusta Precious Metals offers IRS-approved gold, silver, platinum, and palladium products of the highest quality. On its website, you will have access to the following:

• Gold American Eagle
• America The Beautiful – 5oz Cumberland Gap
• Gold American Buffalo
• Austrian Philharmonic Silver
• Gold Canadian Maple Leaf
• Canadian Silver Maple Leaf
• American Silver Eagle
• Austrian 1 oz Gold Philharmonic BU

Precious Metals IRA

The right gold IRA company gives you access to a wide selection of educational materials to teach you more about the gold IRA industry.

From the retirement planning stage to safely depositing your IRS-approved precious metals in a secure depository, Augusta Precious Metals ensures that you have all the resources to help you make informed decisions.

After giving you expert advice on how to set up your gold IRA, Augusta Precious Metals will give you access to the right kind of metals for your retirement account.

Direct Sales

If the thought of not being allowed to hold physical gold that is part of your IRA does not appeal to you, Augusta Precious Metals allows you to buy gold and silver that can be delivered directly to you. The gold IRA company will also ensure that your metals are delivered safely to you.

Fees and Costs

One of the defining factors to consider when choosing the right gold IRA company is the amount it will cost you to set up and maintain the account. If these fees are too high, you may end up diminishing your investment returns.

Goldco

The following are the costs associated with having a Goldco precious metals IRA account:

• Account setup fee - a one-time initial payment of $50
• Annual account maintenance fees - $25
• Gold IRA storage fees - $100 per year for non-segregated storage and $150 per year for segregated storage
• Minimum investment - $25,000
• Effective annual fee rate for $25,000 investment - 0.90%
• Effective annual fee rate for $100,000 investment - 0.23%

Augusta Precious Metals

Augusta Precious Metals has slightly different but still transparent fee structures that are charged as follows:

• Custodian application fee - $50
• First-year custodian annual fee and sample depository fee - $100 each
• Total one-time setup fee - $250
• Custodian annual fee and storage fee - $100 each
• Total recurring annual fees - $200
• Minimum contribution - $50,000
• Bank wire has no limit
• Personal check limited to $50,000
• Total initial cost to invest (minimum contribution + setup fee) - $50,250

Storage Options

One of the issues that many investors have with opening a gold IRA is the requirement that all assets must be stored in an IRS-approved depository.

Besides depriving customers of the chance to hold physical gold in their chosen locations, it also means investors incur additional security and storage fees.

However, if you want to invest in a gold IRA, there is no going around this rule. As such, both Goldco and Augusta Precious Metals have mechanisms in place to facilitate the storage of their customers' precious metals in the best way possible.

Goldco

Goldco investors have a choice between segregated and non-segregated forms of storage.

With the former, your physical gold and silver bullion coins and bars will be kept apart from those of other retirement accounts. Such a special kind of storage often comes at a premium cost.

The other option, non-segregated storage, is a lot more affordable because your assets will be kept in a communal location. However, both forms of storage are highly secure.

Augusta Precious Metals

At Augusta Precious Metals, the gold you buy will be kept by a third party, such as the Delaware depository.

This allows customers to benefit from using a company that is solely dedicated to keeping their precious metals safe. Delaware depository also has a hefty insurance policy of up to $1 billion in coverage in case of theft or damage.

It is important to note that Augusta Precious Metals can also assist you in choosing other depositories, such as Kingdom Trust, Goldstar Trust Company, and Equity Trust.

Customer Service and Support

One of the reasons why Augusta Precious Metals and Goldco are regularly considered the best gold IRA companies in the US is because of the immense customer satisfaction they generate. Here is a look at how each of these companies achieve this:

Goldco

The excellent custodian services offered by Goldco stem from:

• A great support team available around the clock
• Useful educational resources easily accessible on the website
• A personal helper assigned to every investor

Augusta Precious Metals

With Augusta Precious Metals, customers enjoy:

• A helpful team with transparent pricing structures
• Dedicated web classes to improve investor knowledge and expertise
• A guide to taking customers through the investment process

3rd Party Reviews

These days, if you want to know more about a company without having to rely too much on the promotional claims made on its website, there are many reliable review sites to browse through.

Here is how a few of them have scored Augusta Precious Metals and Goldco:

Goldco

• Better Business Bureau - A+ with 1021 reviews
• Trust Link - 5/5 from 254 reviews
• Trustpilot - 4.8/5 from 1440 reviews
• Consumer Affairs - 4.9/5 from 1687 reviews
• Google Reviews - 4.9/5 from 2559 reviews

Augusta Precious Metals

• Better Business Bureau - A+ with 106 reviews
• Trust Link - 5/5 from 287 reviews
• Consumer Affairs - 5/5 from 139 reviews
• Google Reviews - 4.9/5 from 459 reviews
• Business Consumer Alliance - AAA from 99 reviews
• Facebook - 4.8-star rating

Goldco Pros and Cons

While Goldco comes highly recommended, it does have its flaws that need to be addressed here in the interest of helping you make an informed decision. Consider these pros and cons carefully:

Pros

• Provides a safe location for storing precious metals
• Widely trusted by many seasoned investors
• Gives customers useful tips and advice
• Opening an account and beginning the investment journey is easy
• Has grown to become an expert in the gold IRA industry

Cons

• Rather high minimum investment requirement
• Limited in terms of choices of precious metals

Augusta Precious Metals Pros and Cons

With Augusta Precious Petals, the following are some of the pros and cons worth mentioning:

Pros

• Customer satisfaction is very high
• Plenty of educational resources and learning opportunities
• Effective customer support structure
• Transparent pricing

Cons

• More details about the company are required online
• Investment choices usually limited to gold and silver products

Final Thought: Which Company Is the Right for Your Gold and Silver Investments?

Whether Goldco or Augusta Precious Metals is suited to your needs and will help you create a well-rounded investment portfolio depends on your financial goals and other factors, such as location, available funds, expertise when it comes to investments, and the metals you choose to buy.

In general, the way Goldco is designed seems to suit new investors better due to the simplicity of the process and the customer support that is constantly available. However, you will need deeper pockets if you choose this route because Goldco requires a high minimum investment.

Augusta Precious Metals, on the other hand, is a lot more detail-oriented, which would suit seasoned investors much better. It also has plenty of educational resources that would benefit anyone looking to invest in precious metals for a long time.

Ultimately, choosing the best gold IRA company requires a bit of research. Take time to go through all the available educational material so that you make an informed decision when the time comes for you to pick the custodian who will guide you to a brighter financial future.