When evaluating gold IRA companies, two top contenders are consistently at the forefront: Goldco and Augusta Precious Metals. Each company carries an impressive reputation in the industry and offers valuable investment options. But, when directly compared: which one takes the crown?
A Closer Look at Goldco
Established by Trevor Gerszt in 2006, Goldco was founded in response to the need for a reliable safeguard against market instability and potential stock market crashes. With extensive years of industry experience, Goldco has been successful in helping individuals secure their financial future with precious metals.
Goldco's Investment Options and Fees
Offering three core investment options—silver Individual Retirement Accounts (IRAs), gold IRAs, and direct purchases of silver and gold—Goldco caters to a diverse group of investors. Accessibility remains a priority, with a relatively low minimum investment requirement of $25,000.
In terms of fees, Goldco charges an $80 annual maintenance fee, paired with a one-time account set-up fee of the same amount. Goldco predominantly uses the Delaware Depository as an IRS-approved storage facility, offering non-segregated storage at $100 per year or segregated storage for $150 per year.
An Overview of Augusta Precious Metals
Founded by Isaac Nuriani in 2012, Augusta Precious Metals is a family-run company, which has successfully enabled investors to weather the uncertainty of stock market investments. Based out of Casper, Wyoming, they also have a presence in Beverly Hills, California.
Augusta Precious Metals Investments and Charges
Just like Goldco, Augusta Precious Metals offers gold IRAs, silver IRAs, and direct purchases of gold and silver. However, they mandate a higher minimum investment requirement of $50,000. Their annual maintenance fee of $100 is slightly steeper than Goldco’s, but the account setup fee stands lower at $50.
In addition to an exemplary buyback program, Augusta Precious Metals provides lifetime customer support. Although they don't offer a highest price guarantee, their account services set a high standard in the industry.
Comparing Goldco and Augusta Precious Metals
Review Ratings
Both companies boast impressive ratings, with A+ from the Better Business Bureau, AAA from the Business Consumer Alliance, and five-star ratings from Trustlink. Augusta Precious Metals edges out with a 4.9 rating from Consumer Affairs, while Goldco trails closely behind with a 4.8.
Metals Options
Goldco and Augusta Precious Metals offer a wide range of metal options to cater to diverse investor needs. While both companies exclude palladium or platinum retirement investments, they provide IRS-approved silver and gold coins and bullion that meet the IRS fineness requirements. However, Augusta Precious Metals offers the advantage of a mixed-metals account.
Customer Support
Both Goldco and Augusta Precious Metals hold customer support and education high on their agenda. However, with its lifetime support offering, Augusta Precious Metals has an edge over Goldco, which offers robust buy-back programs but lacks a lifetime support guarantee.
Deciding Between Goldco and Augusta Precious Metals
Gold IRAs can be an effective strategy to diversify your retirement portfolio with physical assets. Both Goldco and Augusta Precious Metals are proven leaders in this field. However, your choice will largely depend on your individual investment needs and preferences.
Opt for Goldco if your investment is below $50,000, you prefer lower annual fees, or want access to an industry-leading buy-back program. However, if you can manage a minimum investment of $50,000, desire high-quality lifetime account support, or seek to open a precious metals IRA with both gold and silver, Augusta Precious Metals would be your best bet.
CFTC
irs.gov
How To
Investing in gold vs. investing in stocks
These days, it might seem quite risky to invest your money in gold. The reason behind this is that many people believe that gold is no longer profitable to invest in. This belief comes from the fact most people see gold prices falling due to the global economy. People believe that investing in gold would result in them losing money. However, investing in gold can still provide significant benefits. We'll be looking at some of these benefits below.
Gold is the oldest known form of currency. There are records of its use going back thousands of years. It is a valuable store of value that has been used by many people throughout the world. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.
You must first decide how much you are willing and able to pay per gram to decide whether or not gold should be your investment. You must determine how much gold bullion you can afford per gram before you consider buying it. If you don’t know the current market rate for gold bullion, you can always consult a local jeweler to get their opinion.
It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So, although gold prices have declined in recent years, the cost of producing it has not changed.
When deciding whether to buy gold, another thing to consider is how much gold you intend on buying. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. However, if you are planning on doing so for long-term investments, then it is worth considering. Selling your gold at a higher value than what you bought can help you make money.
We hope you have gained a better understanding about gold as an investment tool. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only then can informed decisions be made.
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By: Donny Gamble
Title: Goldco Versus Augusta Precious Metals: Selecting the Superior Gold IRA Company
Sourced From: retirementinvestments.com/investing/goldco-vs-augusta/
Published Date: Wed, 13 Sep 2023 15:03:41 +0000
