So you’re interested in opening a precious metals IRA with Augusta Precious Metals? Before taking the plunge, it is smart to look into their fee structure.
Precious metals like gold and silver can be excellent portfolio diversifiers in an uncertain economy. But, like any investment, it pays to understand the full costs involved.
In this article, I’ll break down Augusta’s entire fee schedule for 2024. You’ll learn:
- Account setup fees
- Annual storage and admin fees
- Minimum investments
- Shipping and insurance costs
- Payment options and more
I’ll also compare Augusta’s pricing to that of other top gold IRA companies. This information will help you decide if Augusta is the right fit.
Augusta Precious Metals Account Setup Fees
Augusta has a simple, transparent fee structure. Here are the account setup costs:
- $50 one-time account opening fee
- No setup fee for non-IRA purchases
The $50 covers administrative costs like processing paperwork and establishing your IRA account. It’s a reasonable one-time cost compared to other gold IRA providers.
Some companies entice you with “free” account setups and then charge you hidden fees. Augusta lays it all out upfront. No surprises.
Annual Augusta Precious Metals Storage & Admin Fees
Ongoing fees with Augusta are also straightforward:
- $100 annual administration fee
- $100 annual storage fee
These reasonable fees cover securely storing your metals at an independent depository and managing your IRA.
So, your total first-year cost is $250. After that, just $200 annually. Augusta keeps it simple.
Some companies charge admin fees as high as $225 and storage over $150. The industry average is around $175/$125 respectively. Augusta is below average.
Here’s a great perk: Depending on the size of your metals purchase, you can potentially have all fees waived for up to 10 years. Augusta offers this fee waiver to all customers.
Augusta Precious Metals Minimum Investment
To open an account, Augusta requires a minimum purchase of $50,000 in metals.
This threshold is higher than that of some competitors but is not outrageous. With gold around $2,000/ounce now, $50k equals 25 ounces of gold. A decent diversification amount.
You can meet the minimum with any combination of metals Augusta offers. No pressure to buy rare or overpriced coins.
Compare this to companies charging $25k or more for specialized collector coins. Augusta lets you choose cost-efficient bullion if you prefer.
Augusta Precious Metals Shipping & Insurance
A nice perk Augusta provides is free insured shipping.
Once you purchase metals, Augusta covers shipping costs to the depository. This includes full transit insurance, too.
Some gold IRA companies charge shipping fees up to $50 and 1% of the metal value for insurance. This gets expensive on larger investments.
Augusta covers these costs because they have wholesale agreements with shipping carriers. This pass-through discount is a money saver.
Augusta Precious Metals Payment Options
For funding your account, Augusta accepts:
- Bank wire transfers
- Personal checks
- Cashier’s checks
Wire transfers have no limits. But checks are capped at $50,000.
Augusta does not accept credit cards, Bitcoin, or PayPal for purchases. This is a good policy, as credit card financing can get pricey.
Comparing Augusta Fees vs Other Companies
How does Augusta stack up against other top gold IRA providers? Very favorably:
Augusta Precious Metals Fees
- Setup Fee: $50
- Annual Admin: $100
- Annual Storage: $100
Competitor Average Fees
- Setup Fee: $90
- Annual Admin: $175
- Annual Storage: $125
As you can see, Augusta’s pricing beats the industry averages. You’ll keep more of your investment working for you.
Augusta Precious Metals Fees Summary
Augusta Precious Metals keeps fees low, transparency high, and takes all the guesswork out of gold IRAs.
With no hidden account fees, free insured shipping, and competitive ongoing costs, they provide good value in the gold IRA space.
The $50k minimum investment may be too steep for some, but Augusta’s Ethics First approach and excellent educational resources make it worth a close look.
Ready to diversify your retirement portfolio with physical precious metals? Get the full scoop on gold IRAs with a detailed list of top gold IRA companies.
