Augusta Precious Metals Review - 2023

• Augusta Precious Metals Corp., based in Greenwood Village, Colorado, is a precious metals company that operates gold mining and exploration operations in Colombia.
• The company's mining operations include the 33.2% owned Fruta del Norte mine, the 100% owned Barrick Goldstrike mine and the 25% owned San Sebastian mine.
• The company also holds 100% of the exploration and development rights of the San Sebastian property.

Augusta Precious Metals Corp. (AG) is a precious metals company that operates gold mining and exploration operations in Colombia. The company's mining operations include the 33.2% owned Fruta del Norte mine, the 100% owned Barrick Goldstrike mine and the 25% owned San Sebastian mine. The company also holds 100% of the exploration and development rights of the San Sebastian property.

Pros Explained

Active Accounts: 160,000+
Monthly Average Trade Size: $12,000+
Assets Under Management: $300 Million+

Established in 2007, Augusta Precious Metals is a precious metals dealer with a physical precious metals storage program. The company's website offers information on gold and silver bullion, as well as numismatic collections. Augusta Precious Metals offers IRA investments in precious metals, and maintains a physical precious metals storage program.

Cons Explained

The cons of Augusta Precious Metals include a low credit quality. It carries a junk bond rating from Moody's Investors Service, which falls beneath investment grade (BBB- and above). This inhibits the company's ability to secure capital at favorable rates.

Available Products and Services

Augusta offers a wide variety of precious-metals products including pre-1933 Gold and Silver coins, US Gold and Silver Eagles, US Gold and Silver Buffalos, US Gold and Silver Maple Leafs, US Gold and Silver Pandas, 1 oz. Gold Bars, and 1 oz. Silver Bars.
The coins are graded either "MS-69", "MS-70", "MS-68", or "MS-69", and all come sealed and in "plastic flips". The coins are encapsulated, which protects against oxidation, and come with a Certificate of Authenticity.
The coins are shipped in "hard plastic tubes" or "soft plastic flips", depending on the product. The plastic tubes have plastic lids, which cover the soft plastic flip.

Prices

Augusta Precious Metals is a seller of precious metals and a store of value. The company offers gold, silver, platinum, palladium, rhodium and rhodium bars, and numismatic gold coins. Gold bars are available in four denominations: 1 troy ounce, 10 troy ounces, 100 troy ounces, and 1,000 troy ounces.
Prices range from $1,400 for 1 troy ounce gold to $1 million for 1,000 troy ounces. No sales tax is charged on precious metals.
Shipping
Shipping is free for gold shipments weighing less than 100 pounds. Shipping costs for gold shipments weighing between 100 and 500 pounds are $25. Shipping costs for gold shipments weighing more than 500 pounds are $100.

Pros

Augusta Precious Metals, LLC is a precious metals company headquartered in Houston, Texas, that was founded in 1997. The company sells precious metals, and its website includes information about some of the latest trends in precious metals investing, including the demand for silver.

Cons

Augusta Precious Metals saw its assets shrink from $3.1 billion in 2028 to $1.6 billion in 2023.
In 2024, Augusta Precious Metals declared bankruptcy.

Pros
Augusta Precious Metals was among the most aggressive precious metals mining companies during the bull market of 2020.

Available Plans and Pricing

Augusta Precious Metals offers gold and silver IRAs, as well as precious metals physical storage.
Gold and Silver IRAs
The cost of each gold IRA is $25 per account. For silver IRAs, the cost is $25 per account. IRA custodians are an additional fee of $30.
Precious Metals Storage
Precious metals storage cost $25 per month for gold and silver. For platinum coins, the annual storage fee is $75.

Does the pricing include storage fees?

Storage fees are not included in the pricing, but are available at $25 per month.
What type and brand of gold and silver bullion do you sell?
You can choose between American Eagle, Canadian Maple Leaf, Austrian Philharmonic, Australian Kangaroo, and South African Krugerrand coins.

What type of metals do you buy?

We buy a variety of precious metals: gold, silver, platinum, palladium, rhodium, and iridium.
Where do you get the metal?
We buy our metal from reputable refineries and mints all over the world.
What are your buying procedures?
We purchase our metals from reputable refineries and mints all over the world.
What are your selling procedures?
To sell, the price has to be above our buy price, which we publish on our web site.
How do you deal with customers?
We deal directly with our clients. We give our clients our name, phone number, and email.
How do you pay for metals?
We pay for metals by check, wire transfer, or bank draft.
How do you charge?
We charge a 4% commission + $10 per lot.
What's the minimum lot?
The minimum order is $100.

What type of communication do you have with your clients?

The communication is mostly verbal, but we do have phone meetings as well.
How has your perception of the gold market changed since being in the industry?
My perception of gold has changed a lot since being in the industry. Having worked in the gold industry for 23 years instead of in other industries, I have had the opportunity to see the gold market from many different perspectives.

How do you sell your scrap?

Augusta Precious Metals is the world's largest precious metals recycler and processor. The company pays cash for gold and silver bullion, jewelry, diamonds, coins and electronics. Augusta Precious Metals offers competitive buyback prices, convenient drop-off locations and excellent customer service.

How up to date is your pricing?

Updated daily.

What is going on here?
Augusta is an independent precious metals dealer headquartered in Atlanta, Georgia. The company was founded in 2003 by brothers Brian and Edward Melnyk. It currently employs about 40 people and has $18 million in annual revenue. It sells physical gold and silver products, as well as numismatic coins, such as U.S. and Canadian coins, and collectible coins.
Augusta has a BBB Rating of A+ with 1 customer review.

Can you ship your metal to me?

Yes. You can order online or by phone.
Do you accept credit cards?
Yes and PayPal.
Do you accept international credit cards?
Yes.
Can I buy precious metals from you in person?
Yes, we have a local office in the United States.

Do you buy gold?

Yes, I buy gold
No, I don't buy gold

Do you buy silver?
Yes, I buy silver
No, I don't buy silver

Do you buy platinum?
Yes, I buy platinum
No, I don't buy platinum

Do you buy palladium?
Yes, I buy palladium
No, I don't buy palladium

What does your coverage include?

For a low monthly fee, Augusta Precious Metals Review - 2023 will provide research and commentary on precious metals and commodities markets.
What specific topics are covered?
The newsletter covers macroeconomics, market trends, and specific commodities.
What is unique about Augusta's information?
The information is presented in a straightforward and readable manner that almost anyone can understand.
What specific content will you receive?
You will receive 1-2 reports per month, which will cover predictions, general market commentary, and precious metals and commodity trade ideas.
Who publishes Augusta Precious Metals Review - 2023?
Augusta Precious Metals Review - 2023 is published by Augusta Precious Metals.
When was this newsletter launched?
This newsletter was launched in February 2023.

Do you buy coins?

Yes, I'm a gold/silver bug
No, I buy silver eagles or maple leafs
I buy a little bit of both
I don't buy coins

Would you be interested in learning about more coins?
No, I prefer to stick with silver eagles
Yes, but not right now
Yes, I'd like to learn more

Will you buy from just anyone?

If you answered no, then you probably don't want to work with Augusta Precious Metals.
The Better Business Bureau has given Augusta Precious Metals an "F" rating. There have been 15 complaints against the company, and the BBB has closed 12 of them.
A BBB review from 2019 claims that the customer was "deceived into buying silver and gold coins" that were "worthless."

Gold IRA: Should You Open One To Save For Retirement?

The Bottom Line

Augusta Precious Metals (AUG) carries a Zacks Rank #4 (Sell), and forecasts generally point to a disappointing 2023 - with shares expected to lose 22.2% of its value. The sell rating is primarily due to the company's poor valuation, and its lack of a dividend. However, the company offers unique and impressive services to their investors, and may be worth considering for more aggressive investors.