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Gold is a safe haven investment in an uncertain economy. If you’re looking to invest in Gold IRA, here’s a comparative analysis of two popular IRA brokerages to help you make an informed decision about your retirement savings.
What is Goldco?
Goldco is a top-rated IRA provider and one of the world’s most reputable dealers of gold and silver. Since its inception in 2006, it has been protecting the retirement investment of individuals from fluctuating market conditions.
Aside from gold and silver, Goldco also deals in other precious metals like palladium and platinum IRAs and direct sales.
What is Augusta Precious Metals?
Established in 2012, Augusta Precious Metals offers customers a wide range of options to diversify their wealth via investment in precious metals. It offers an investment package that includes gold and silver precious metal IRA service, a market for non-IRA precious metals, and dedicated customer support.
What do they both offer?
Augusta and Goldco offer investments in silver and gold. Goldco also offers investment in other precious metals like platinum and palladium. Both IRA brokers are known for their customized and dedicated customer support.
To open a Gold IRA you need guidance throughout the registration process. Augusta and Goldco brokers provide simple steps for opening an account. You can refer to their online form or directly call customer support for assistance.
Augusta and Goldco offer competitive pricing structures. While Goldco offers lower mandatory fees, Augusta provides various waivers to its customers. Please note that waivers and discounts are subject to individual investment circumstances.
Goldco and Augusta provide a straightforward and transparent fee structure regarding buyback. This makes it easier for investors to liquidate their investments in case of an emergency.
What does Goldco offer that Augusta Precious Metals does not?
The minimum investment requirement for Goldco is $25,000. This is much lower than the investment required for Augusta which is $50,000. In addition to gold and silver investments, Goldco also offers investments in other precious metals like platinum and palladium.
What does Augusta Precious Metals offer that Goldco does not?
Investments through Augusta Precious Metals come with an ‘account lifetime support’ for all customers. They offer fully transparent pricing that includes the waiver of fees for up to 10 years. Since its inception in 2012, Augusta has not received any BCA or BBB complaints, something that Goldco cannot claim.
The service provider arranges one-on-one web conferences to clarify market situations and educate customers.
Goldco does not provide a comprehensive list of its prices and fees on its website, and it does not offer price matching with its competitors. We contacted them directly to find out their fee structure and this is what they shared with us:
"The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50, as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually. Goldco does not charge any storage fees for cash transactions over $25,000."
Augusta Precious Metals
Augusta Precious Metals is lauded for its transparency in the fee structure. It publishes all types of service fees on its website. There is a one-time account setup fee of $50 with an annual custodial fee of $80. The annual depository storage cost is $100. Augusta waives any shipping and transit costs for its customers.
How trustworthy is Goldco?
Goldco is a privately held firm that protects the retirement savings of its customers by rolling over their existing IRA, 403(b), 401(k), or other retirement accounts to a Gold IRA. The service provider has received an A+ rating from the Better Business Bureau and a AAA rating from the Business Consumer Alliance.
In over one and a half decades of service, it has served more than 3 million satisfied customers. Though the service provider has received several complaints and queries from its customers, it has made sure to address every query. It is popular in the market for its ethical business practices and dependability.
How trustworthy is Augusta Precious Metals?
Augusta Precious Metals has been in business for almost a decade and holds a reputation for not receiving a single BBB or BCA complaint.
Augusta provides secured storage with Delaware Depository and has depositories across the US. Customers can arrange a visit to any Augusta gold storage centers through the custodian. The gold and silver are protected by a $1 billion all-risk insurance policy by Lloyd’s of London.
Who is behind Goldco?
Trevor Gerszt is the founder and CEO of Goldco. He is a precious metals dealer in Los Angeles with over 20 years of experience in wealth and asset protection. He is also a member of the Board of Directors of the Better Business Bureau of LA and Silicon Valley.
Who is behind Augusta Precious Metals?
Isaac Nuriani is the founder and CEO of Augusta Precious Metals. He launched the company to educate retirement savers about diversifying their savings by investing in precious metal products. He is a member of the Industry Council for Tangible Assets and Ethics.net and has contributed significantly to American retirement stability.
Educating the customers
Both companies are reliable. However, we believe that Augusta Precious Metals has an edge over Goldco. Although Goldco offers cheaper investment options, Augusta with its premium service, transparent pricing policy and customer education initiatives make it a better choice.