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Buyer Beware
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In February 2026, I began a 21-day series of zoom meetings, emails and telephone calls with Augusta Precious Metals (APM). I signed an agreement with APM and liquidated assets and transferred funds from my IRA brokerage account to their recommended Trust company, for the stated purpose of buying precious metals. For reasons detailed below, I did not consummate the purchase with APM, but ultimately brought from a reputable, trustworthy dealer.
APM states that their spread on all products is 5%. Prior to the pre-purchase call, I stated my plan to diversify with both gold and silver bullion, non-fractional, specifically Gold American Eagles, Canadian Maple Gold and Canadian Maple Leaf Silver bars and coins.
The representative repeatedly stated that my goal should be to pay the most amount of money for the least amount of coins, in order to keep the melt value/ custodial valuation low for tax reporting purposes. Incidentally, I never indicated any interest in a large-scale taxable event. However, the topic of a Roth IRA conversion became a central point/ and driver of the presentation/ and subsequent recommendation.
His undue emphasis on tax consequences gave the distinct impression that he was a tax expert. Giving tax advice without proper credentials can lead to serious legal implications.
The call continued with the representative insisting on selling me a non-diversified, 100% silver assortment of coins, in fractional increments, (such as ½ ounce, 1 ¼ ounce), coins which I had never heard of. I later learned that these coins were exclusive to APM. APM maintains full control of the supply and demand of these metals. Outside of APM, these coins are not marketable.
When the spot price for one ounce of silver was $98.88, APM was charging $157.85 for ½ ounce ($315.70/ ounce) of their exclusively-minted Silver Royal Canadian Mint Soaring Eagles, reflecting a premium over spot of 219%. APM’s buyback claim, under this scheme makes a mockery of the customer.
Lastly: The pre-purchase call with APM took place in mid-March, when the spot price of silver was approximately $85.00, (rather than $98.88), the APM representative, did not bother to change his presentation slide, (which he said was designed for me), but which was dated January 22, 2026.
Refer to these informative videos/ articles for further clarification, and help if you have made a regrettable decision:
https://www.washingtonpost.com/business/2023/07/25/gold-ira-conservative-media/
https://www.youtube.com/watch?v=E1UhHrRSj90
https://solari.com/movie-of-the-week-march-7-2026-the-great-gold-scam/
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