Investing in gold may be one of the best and most secure ways of preserving your wealth during times of economic turmoil. An effective way of doing so is by opening up an IRA account at a reputable gold IRA company. These include GoldCo and Augusta Precious Metals.
They are two of the best gold IRA providers in the industry, and they can help liquidate your gold holdings in the easiest possible manner.
Before we compare a precious metals IRA account provider against another, you should be aware that an ideal precious metals IRA account provider should have the resources, expertise, and experience to ensure that your precious metal investing experience is a positive one.
Now we're going to compare these two gold IRAs.
GoldCo: Best Value for Money
GoldCo is most well known for its inclusive pricing. It caters to people with widely different incomes and budgets.
It's well known for its low minimum initial deposit, which is only $250,000. Apart from that, their excellent customer services and full transparency in every transaction make them a perfect choice for both new investors and seasoned investors looking for gold IRA investments.
Goldco is an independent investment firm that primarily works with standard IRAs, shifting investments, and other financial services. One of the best things about this firm is that their IRA specialists will help investors through every step of the IRA purchasing process and make the whole buying process very easy and stress-free.
Investors and collectors who use the IRA service get their own accounts for their precious metals and other assets.
If you want to invest in gold, their gold IRA rollover and Precious Metals guides will be useful for beginners. Overall, GoldCo has been a reliable gold IRA company when it comes to gold IRA rollovers and precious metal IRAs.
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Augusta Precious Metals: Best Overall Choice
One of the best features of Augusta Precious Metal is that they've never received any complaints from clients. They're so confident in their services that they offer free shipping worldwide.
According to many happy clients, Augusta is the best gold IRA provider.
Augusta Precious Metals focuses on the small things and simplifies the whole IRA buying experience for its customers. Its customer service is highly rated by famous people like Joe Montana and most of its users.
Since its inception, the company has been providing different educational opportunities regarding IRAs to its clients. Augusta is one of the best-rated companies by the National Ethics Association, BBB, Google Business, and many others.
They specialize in precious metal IRAs, which are a great way to invest in both physical metals and stocks.
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Comparison Table
Main Features of GoldCo
Founded back in 2006 and has served its clients ever since. It's a private fund for people who want to invest in precious metals through an IRA account.
Inclusive Pricing
GoldCo focuses on making sure its customers' retirement plans go smoothly from start to finish. It also helps people invest in gold bullions and other precious metal products.
Their buyback plan is good, and they offer some pretty attractive deals when it comes to precious metals.
Fast and Efficient Service
After you've bought your precious metal coins, all you need to do now is to choose an investment company that will manage them. We'll help you with this by finding you a suitable and responsible one.
You can choose which specific types of physical precious metals you'd like to buy when you've got the cash available. The company has connections with various physical precious metal dealers and mints, meaning you can order customized physical precious metal items if you wish.
Transparency Regarding Fees
GoldCo charges different amounts for different plans, but they'll always be completely transparent about their prices. You can be sure that there won't be hidden costs.
Ratings
Over the years, GoldCo has received good reviews from experts and customers, which makes them one of the best gold IRA companies.
Pros
It comes with nearly two years of experience, and there are no penalties for starting an IRA now. You don't pay anything extra for a competitively priced low bar of investment.
Cons
It has no direct selling system.
If you want to learn more about this company, check out my full GoldCo review.
Main Features of Augusta Precious Metals
Since they were established in 2012, Augusta has not had any complaints about its gold IRA services and traditional IRAs.
Among the IRA services providers, Augusta stands out for its one-on-one online web conferences with Harvard-educated economists.
Educative System
Unlike other gold IRA companies, GoldIRA doesn't start talking about investing right after you sign up. Instead, they'll teach you about the location of your IRA so that you can feel confident about your investment.
If you want to know where to invest in gold IRAs, precious metals, and their price of them, then you need to look no further than GoldMoney.com. They’ll help you out with everything!
High Ratings and Zero Complaints
They're known for their focus on client satisfaction, and they've been awarded high ratings by the Better Business Bureau (BBB) and the Better Business Centre (BCA). However, that's not all; they're well-liked on Facebook, Google, Twitter, LinkedIn, and many other social networking websites.
There are four separate departments within an organization, each responsible for different aspects of
They offer four different departments, each one of which is devoted exclusively to providing you with the best service possible. Their employees include official economists, customer success representatives, and an efficient support staff who will assist you through the entire buying experience.
With these investments, you can either opt for an IRA or a bullion coin account. They are both safe investment options since they sell approved IRS-certified coins.
You'll receive a personal agent who will help you throughout the entire application process. All you need to do is provide them with the necessary information.
There aren't many gold investment firms better than GoldMoney.
A wide range of precious metals
When the paperwork is complete, you'll go to an order counter where you'll be able to select from a wide range of physical, precious metal products like platinum, palladium, and even pure 24-karat yellow and white solid-state diamonds.
They tend to sell physical precious metals at no cost, which means they don't charge commissions for them. Has no complaints from consumers since 2012Arranges educational seminars taken by Harvard economists for its clients up to 10 years' worth of exemptions from different fees they offer “lifetime customer support” for all its clients.It makes it easier for customers to trust you when they don't get any commissions from investing. Quite clear and straightforward pricing, you must contribute at least $50,000 per year to an IRA if you want to deduct contributions.
To learn more about this company, please read my full Augusta Precious Metals overview.
GoldCo vs. Augusta Precious Metals – Feature-by-Feature Comparison
Before we compare them side by side, let’s first talk about why they were chosen in the first place.
Reputation and Customer Reviews
A business has to be concerned about its reputation, so we did our best to compare both companies' reputations before choosing one.
After reviewing thousands of customer reviews, we chose the best goldco review site for our readers.
Now, we've looked at most of the customer feedback for both of these services.
It's good news for us. Both of these companies are very qualified and offer high-quality services.
Winner: Tie
Simplicity
We looked at which company makes it easier to set up a gold IRA. It may sound easy, but it's not so simple, and you need help throughout the entire sign-up process.
Fortunately, both the gold IRA providers provide several simple and easy ways to open an account. You just need to fill out their online forms or call them directly for help.
Overall Costs
They charge different amounts for various types of services. We chose to focus on the ones they needed most.
As it appears, Goldco offers better prices than Augusta concerning the mandatory fees. Augusta, however, provides different waivers to its clients. But both of them have competitive price structures. Discounts and waivers are subject to different conditions although.
Commission
This is where Augusta has an advantage over GoldCo. They don't charge any commissions, making it much safer for their customers.
An IRA provider offering an account with no commissions takes commissions directly out of the profits. However, Augusta does not offer any commissions at all.
Winner: Augusta Precious Metals
Setup and Storage Fees
You may need to pay an initial deposit to get started. However, if the price of metals or gold increases dramatically, some companies might waive the entire initial deposit.
Gold has been used for centuries as a form of currency. However, most people don't know that there are certain laws governing its use. For example, if you store gold in an online vault, then you must agree upon a fixed rate per year. Otherwise, you could be charged up to five percent of the total value of the gold that you're holding.
Maintenance Fees
There's one more thing we haven't discussed yet — the monthly management fees. These cover the costs associated with running an online business. They include things like administrative tasks, customer support, marketing, etc.
Big investors often pay large amounts of money for administrative costs. These costs typically range between $50 and $300 and are sometimes included in the storage fee.
Both Goldco and Augusta were very transparent about all the costs associated with setting up an IRA account. You should avoid any provider who hides these costs.
Resources
When it comes to gold, silver, and platinum bullion – it's always the more, the merrier! So, yes, it would be safe to assume that a client is more likely to choose an IRA company that has more products available for them to invest in.
Augusta takes the lead because they have a wider range of IRS-approved gold and silver than GoldCo. However, GoldCo has a larger supply of gold as bullion.
Both companies will offer you advice on which bullion coin and bar designs are best for you. What makes them different is that one company will sell bullion from the U.S. Mint, whereas the other will sell bullion from private mints.
It makes the whole experience much safer for both buyers and sellers and creates a sense of trust between them.
Buybacks
Yes, gold buys back programs are essential. There are some situations when an emergency arises, and you must sell the bullion for cash. However, most companies do not permit it or make the buy-back program very difficult. Instead, GoldCo and Augusta offer very flexible buybacks.
Their fees for buying back shares are transparent and straightforward. If you want to sell the silver/golds before your retirement, they're the best options you have.
As a general rule, you will incur a 10 percent tax penalty if you withdraw funds from an IRA before age 59½.
Final Verdict
Both of these companies are reputable in the precious metal market and create gold iras but one company has better customer service than the other. We'll have to choose between the two.
We compared GoldCo vs. Augusta precious metals and found that Augusta precious metals had a clear advantage.
If you're looking for an affordable way to get started investing in gold, then GoldCo is definitely worth checking out. However, if you've got $50,000 to spend on gold, then you might want to consider taking advantage of Augusta's premium service instead.
