I wrote at length last week about President Biden’s recently proposed 6-trillion-dollar budget for fiscal year 2022, including its anticipated ramifications for the deficit and debt through 2031. I won’t regurgitate that piece here, and I invite you to read it for yourself if you haven’t already.
Although there is plenty more to be said about what could prove to be the most historic presidential spending regime in history, suffice it to say for now that the potential long-term ramifications for the deficit, national debt and dollar stability could be truly profound.
The potential implications for precious metals could be equally profound. As I outlined in last week’s article, the prospect of record annual budgets, trillions per year in deficits and a national debt that increases by more than 70% over the next 10 years raises the possibility that gold and silver could prove more relevant than ever as savings assets.
And as that possibility looms, it becomes crucial for retirement savers to ensure the company they select as their “go-to” provider of precious metals products and services is among the very best.
But how does one go about finding such a company? Is it as simple as performing a random internet search for “precious metals companies” and choosing from among the highest-listed search results?
Not quite. There are a lot of gold and silver companies in the precious metals marketplace nowadays. And many will try to grab your attention by proclaiming they offer the best service, best prices, etc. Your responsibility – to yourself as well as your loved ones – is to look past the marketing “noise” and recognize that genuine excellence is found deeply woven into the fabric of a precious metals company.
In my opinion, there are four principal cornerstones of that excellence: expertise, a relationship-based devotion to customers, total transparency in all aspects of that relationship, and an unassailable public reputation. What follows is a closer look at each of those important characteristics.
Retirement savers often do a fair bit of “due diligence” on their own with respect to both metals and the prevailing economic environment before reaching out to a gold and silver company. But they also recognize such casual research doesn’t make them experts. As they weigh more seriously the prospect of buying gold and silver, they want to connect with a company that has genuine metals expertise.
The most reputable and best-quality gold and silver companies, therefore, can count among their many features a singular devotion to physical precious metals as savings assets. This means being intimately familiar with the array of economic and geopolitical factors that can influence gold and silver prices.
It also means possessing the specialized knowledge necessary to help astute savers safely and seamlessly open silver and gold IRAs. A gold IRA is a retirement account that combines the potential benefits of owning precious metals with the advantages of tax-advantaged growth.
Expert knowledge of gold and silver certainly is an important feature of a professional metals company, particularly in the current climate. But there are other important features, as well, including the willingness to make a customer commitment that goes well beyond any given precious metals transaction. What I’m speaking of is the forging of a beneficial relationship between company and customer from the very outset of their association.
A relationship-based interaction between a retirement saver and a precious metals company is particularly important in the context of the current economic environment. Going forward, savers will have to navigate an unpredictable economic landscape with no shortage of potential landmines. Dynamic applications of monetary policy and fiscal policy, a volatile inflation outlook, tax reform and a multitude of political and geopolitical factors are all expected to be components of the Biden years.
If the president gets everything he wants in the way of spending priorities from a Democratic congress, projected annual deficits will run at least 1.3 trillion dollars over the next decade and total an estimated 14.5 trillion dollars over that period.1 As for the portion of the national debt held by the public, it is expected to increase 17 trillion dollars by 2031 – soaring from 22 trillion dollars to 39 trillion dollars.2
In my opinion, that’s a scenario that simply is too complex to be negotiated effectively on a “piecemeal” basis with a precious metals company. It’s a scenario that instead demands precious metals customers maintain an ongoing education-oriented relationship with a company that can is willing and able to serve up information, news and facts to aid them at any time.
Unsurprisingly, there’s a great deal of consumer interest in gold and silver these days. Last summer, as economic fallout from the pandemic spread like wildfire, the New York Times reported on survey results that revealed roughly half of Americans at that time were “seriously thinking” about purchasing gold.3 Precious metals interest at that level underscores the importance of another key gold and silver company feature: transparency.
I’m referring to transparency in all relevant areas, including customer communication and especially in transaction processing and pricing. The matter of transparent pricing can be a particularly sensitive issue, for obvious reasons.
At the risk of being accused of a little subjective reporting, I don’t mind sharing with you that the popular financial website Investopedia chose Augusta Precious Metals as 2021’s “Best Gold IRA Company for Transparent Pricing.”4 In choosing Augusta, Investopedia said the following:
Augusta Precious Metals’ customers not only benefit from low costs, they also know exactly how much they are paying and for what.
I am, of course, very pleased that the prestigious Investopedia thinks so highly of Augusta’s transparent pricing. In my opinion – and probably in the opinion of a great many consumers – the matter of fees, pricing and other related matters is where the level of a precious metals company’s integrity ultimately is revealed.
In addition to Investopedia’s aforementioned designation, it also is worth noting that Augusta has been chosen “Most Trusted Gold IRA Company in the United States” by independent gold IRA website IRAGoldAdvisor.com.5
Moreover, customers themselves have not been shy about singing the praises of Augusta across a variety of well-known consumer ratings services, including at the popular TrustLink, where Augusta has been chosen as the website’s “Best of” companies, with a 5.0 rating, for multiple years. These honors speak to the fourth cornerstone of precious metals company excellence: an unassailable public reputation.
Even hall of fame quarterback Joe Montana has been very vocal in expressing great satisfaction with his Augusta Precious Metals relationship. Are you surprised to hear that Joe Montana is an Augusta customer? Don’t be. High-profile personalities such as Joe have the same concerns as the rest of us about how economic uncertainty could impact their retirement savings.
As it happens, Mr. Montana is a paid brand ambassador at Augusta, but he didn’t start out that way. He initially came to Augusta as an American, like any other, requesting a one-on-one web conference with the company’s director of education.
Once we got to know him, he shared with us that he had asked his financial advisors to find the “best gold company in the U.S.”, and they independently found Augusta. He liked Augusta’s process and support so much that he is now both a customer and our corporate ambassador – an official member of the Augusta team. Joe recently had a conversation with Devlyn Steele, Augusta’s director of education, about his experiences as a highly satisfied Augusta customer. You can watch that interaction here.
I realize I’ve spent some time and space in this week’s article discussing our own company, Augusta Precious Metals. As regular readers of this blog know, that normally is something I don’t do at length, because I’d rather spend my time offering up what I know and new things I learn about what’s happening behind the scenes.
But I think the stakes for retirement savers are especially high right now. We may, in fact, be living through what eventually might prove to be one of the most economically consequential periods in modern American history. It is a period that potentially could have great significance for precious metals through the foreseeable future.
I really want to help Americans take advantage of this time in history and these amazing products to help them possibly make their retirement futures better. If you would like to do that, it’s critical to get a knowledgeable, ethical gold company on your side.
We’d like to be your gold company. If we can help YOU with gold and silver, or even provide just a little information, please give us a call. If you’re not ready, that’s okay. I’ll share more of what I know next week.
1 Committee for a Responsible Federal Budget, CRFB.org, “President Biden’s Full FY 2022 Budget” (May 28, 2021, accessed 6/10/21).
3 Danielle Braff, The New York Times, “Where Is All That Gold Being Stored” (July 28, 2020, accessed 6/10/21).
4 Richard Best, Investopedia, “Best Gold IRA Companies” (March 20, 2021, accessed 6/10/21).
5 PR Newswire, PRNewswire.com, “Augusta Precious Metals Receives ‘#1 Best Gold Company’ Honor From IRAGoldAdvisor.com” (March 18, 2021, accessed 6/10/21).
Investment in precious metals involves risk and is not suitable for all investors. Augusta Precious Metals recommends that you consult your own financial or investment advisors prior to investing in precious metals. Augusta is not qualified and does not offer financial, investment, legal, or tax advice. This site and the information provided by Augusta throughout its sales process is general in nature and is not tailored to any specific person, their circumstances, or their financial goals.
Opinions offered by Augusta Precious Metals are its own. Additionally, while Augusta attempts to provide factually accurate information, information presented by Augusta may turn out to be inaccurate or incomplete. You should conduct your own independent verification of any facts or opinions presented prior to making any investment.
All decisions regarding the purchase or sale of precious metals are your own, and should only be made after considering your investment objectives, risk tolerance, and level of experience. Augusta Precious Metals cannot guarantee, assure, or promise future market movement, prices, or profits. Past performance does not guarantee future results. Any investment in precious metals is speculative and could result in significant financial losses.
* Past customers received silver coins as a thank-you for reviews. Mark Levin and Joe Montana are paid ambassadors for Augusta.