To help you choose a reputable precious metals IRA, we have reviewed the Best Silver IRA Companies that offer safe depository, tax benefits, and decent customer support.
Your preferred precious metals company must help you understand the pros and cons of IRA investments and help you buy silver, and hold it in your Individual Retirement Account to enjoy tax-deferred benefits, protect your wealth, and manage your retirement savings easily. Here is the updated list of IRS-approved silver IRAs to compare.
Overview of The Best Precious Metals IRA Companies
Best Silver IRA Companies in [current_date format=’F, Y’].
- Goldco – Best Precious Metal IRA with Free Silver Bonus
- Birch Gold Group – Best for Rollover to Silver
- American Hartford – Price Match Guarantees
- Augusta – Clear & Transparent Policy
- JM Bullion – Best Overal Precious Metals Dealer
- American Bullion – Best Precious Metal Custodian
- Advantage Gold – Best for New Investors
- Liberty Gold and Silver – An Alternative with 24/7 support
Goldco sits on the top list of the best silver IRA companies and has a great reputation for offering silver for retirement and holding it safely in an IRA. They offer competitive pricing for several precious metals and allow you to rollover from different accounts such as Roth or 401(k) accounts to a silver retirement account.
Customer service
Goldco’s comprehensive customer is of high quality, and they are available for both online and on the phone customers. You can ask your questions and their financial experts are available to help and assist you with the paperwork.
investment kit
Goldco also serves customers with comprehensive educational resources such as written reports and informational videos.
Low-cost Pricing
Goldco maintains low fees for silver IRAs. You will be charged a one-time setup fee of $50 plus a wire transfer fee of $30. The annual maintenance fee is $80, followed by a $150 yearly storage cost.
Reputation
In 2006, Goldco was recognized by Inc. magazine and ranked 528, next to the nation’s fastest-growing private companies.
Best Silver Coins IRA
If you’re looking to invest in silver, you can find some of the best deals on Silver and GoldCo’s Type 1 and Type 2 Silver American Eagle coins. For retirement, the company also offers gold bullion, including coins and precious metals. Goldco also publishes spot prices for precious metals on their website.
A+ rated under BBB
The Birch Gold Group has an A+ rating in the BBB accredited business database, showing this broker’s credibility. Birch is located in Burbank, California, and offers precious metals investment services.
Easy-to-use website
A section on birch’s website provides useful data about precious metals to help you learn about IRS-approved silver coins and other assets such as platinum and palladium.
Rollover 401(K) to Precious Metals
Birch Gold Group can help you rollover your retirement plan to a Precious Metals IRA. If you don’t have an account with the best silver ira company, you can use your 401K and convert to a Precious Metals IRA.
The American Hartford is an investment company specializing in precious metals and helps you to invest in gold and silver IRAs.
Hartford’s Price Match Guarantee
The investment firm offers a price match guarantee meaning their executives do their best to provide you with the closest price to the other competitors and satisfy you with the best rate.
Custodian fees
The American Hartford Gold company does charge $180 annual custodian fees; however, depending on your account size, you may have to pay other fees to invest through a self-directed IRA.
Buyback Commitment
A Buy-back commitment allows you to sell your gold and silver to an American Hartford rep when you have no use for them or if you have changed your mind about your investment strategy.
Their customer service representatives are always available to answer your questions and direct you down the investment path.
While the scores are high on consumer and performance ratings, some customers have complained about losses. However, these complaints were based on fluctuations in the price of precious metals.
Informational Blog
Hartford tries to educate its customers about investing in gold and silver. In addition to having an extensive library of articles, e-books, webinars, and other resources, they also offer a daily informational blog.
Augusta Precious Metals is a family-owned company with over 40 years of history and ranks among the top 5 silver ira companies this year.
Financial Advice
Not only opening a silver IRA through Augusta Precious Metals is easy, but you’ll also be working with a personal broker who provides financial advice and explain how the precious metals market works to protect your saving.
Live Silver Rates
The account opening is very easy and will only cost you $50. The annual maintenance fee is $100, and the depository storage fee costs you another $100 yearly. The min investment required to start a precious metal IRA with Agusta is $50,000.
IRS-Approved Vaults
Augusta Precious Metals offers services such as arranging precious metals IRAs and custodianship. They also provide IRS-approved vaults for IRA-compatible coins and non-IRA collectible bullion in four main locations, including Tarzana and a satellite office in Beverley Hills, California.
Regal Assets offers free informative reports detailing current events, potential risks, and how to avoid them. These reports provide advice on avoiding a doomsday and will help you choose an alternative investment to gold, bitcoin, or cash.
Crypto Portfolio
As one of the first companies to incorporate cryptocurrencies into precious-metals IRA, Regal Assets offers a variety of options. Customers can invest in gold, silver, platinum, palladium, and crypto coins.
Customer care
Regal Asset’s customer service helps with all requests without pressuring you into an investment decision; instead, they give you all the data you need and let you decide what to do.
Crypto IRA
Regal offers a useful crypto investment kit to help you learn when to invest in cryptocurrency. Once you learned the basics from your free Crypto IRA Kit, you may set up a Bitcoin IRA account with them that is insured for up to $2 million.
Positive Reviews
Customers have reviewed Regal Assets on TrustLink and rated it 4.6 out of 5 stars. Additionally, there are no negative reviews. A few customers mention that they need to communicate better with their account managers, but overall, they have a high reputation and positive reviews.
The Advantage Gold website has great resources for learning about investing in precious metals. The platform includes helpful information on IRAs, buying and selling precious metals, and gold coins. It also offers help in setting up a Precious Metals IRA, handles all the details, and pays minimum spot prices for all metals. The gold investment firm was founded in 2007 and featured in Inc. and Forbes magazines.
Diversifying Portfolio
The website also includes information on diversifying your portfolio and getting the best deals on gold. Advantage Gold has a US Mint listing as a reputable company, which provides reassurance to customers. Apart from gold, Advantage Gold offers platinum, palladium, and numismatics. Among the numismatics, Advantage Gold carries rare and collector coins. Some of these coins might not be eligible for IRAs.
Buyback Policy
Advantage Gold has one of the industry’s easiest and most transparent buyback policies. With a buyback rate that is generally higher than the spot price, the company pays you the market value for your gold. The Better Business Bureau rates Advantage Gold as five stars out of five.
Silver is also an inflation hedge. Morgan Stanley believes silver has a longer-term inflation rate track record than gold. The metal has historically made solid gains during times of US inflation. As a result, when the dollar falls, silver is cheaper to buy in other currencies, making it an ideal investment for inflation hedges. However, it would help to keep in mind that a silver investment isn’t a cash flow generator.
Buying silver for an IRA can be a great way to protect your saving from inflation.
Investing in silver with a self-directed IRA
Investing in silver with a self-directed IRA is legal. You must buy silver bullion that meets purity requirements, which differ by country and type of coin. IRA trustees can buy silver for their IRA with IRA funds, but the IRS does not allow numismatic coins or collectibles. The IRS publication 590 describes the requirements for IRAs. The best option for investors who want to invest in physical silver is a self-directed IRA.
Investing in silver through an ETF
Investing in silver through an ETF is another way to diversify. The most common silver ETF is the iShares Silver Trust (SLV). This exchange-traded fund generally tracks the price of silver. It does not hold silver itself – it owns it in trust for investors. You can buy the ETF through most online brokers.
Investing in silver through a mutual fund
An easy way to invest in silver is to purchase shares of a silver exchange-traded fund. These funds hold a portfolio of stocks from different companies that produce silver, and their prices generally parallel the metal price. You can purchase these funds through most stock brokers. They have low fees and are easy to trade, so they are a great way to invest in silver. You also won’t have to own silver, as you don’t have to invest in mining companies.
Investing in silver through a silver ETF
If you’re interested in buying silver as an investment, you might consider putting your money into a silver ETF in your IRA. A silver ETF allows you to invest in the precious metal without owning it directly. By investing in an ETF, you’ll receive a share of a physical silver fund that represents your stake. That means that the value of your silver stake increases when the price goes up. And if you decide to sell it later, you’ll be able to reap a profit.
There are several ways to buy silver for your IRA, including a self-directed IRA or rolling over funds from another IRA. In either case, you must first contact a reputable precious metal dealer to decide which type of silver would be best for your IRA. Keep in mind that the commission you pay for purchasing metals can range anywhere from 1% to 15%, depending on the dealer and product you choose.
Buying silver in an IRA
The IRS requires that you invest in gold, platinum, and silver bars that are made by an accredited US manufacturer. Silver is not a speculative asset, meaning it is less volatile than other investments. Investing in silver in an IRA will allow you to diversify your portfolio away from volatile paper assets.
The IRS has strict requirements for investing in precious metals, and a lot of this applies to buying silver. However, this rule has some exceptions, including gold and platinum bars with a weight of over 400 ounces, silver ingots in multiples of 1,000 ounces, and palladium.
If you’re looking for an investment that can generate a higher return, you should consider a silver IRA rollover. The investment will be tax-deferred and can be made by anyone. It is also safe, as silver’s performance rates are better than those of any other type of investment. Despite the risk of investing in silver, it is often considered a good choice for retirement planning.
The tax benefits of owning precious metals in your IRA are well worth the extra work. Unlike a traditional IRA, precious metals do not attract capital gains taxes, so you’ll enjoy tax-deferred growth for a longer period of time. Silver and gold are relatively stable, and can even hedge your portfolio against economic uncertainty and stock market crashes. Investing in silver and gold, however, is not without risk.
Investing in precious metals can be beneficial, but you should know the risks and potential pitfalls. Although the prices of precious metals have historically been high, gold and silver prices tend to decrease as stocks recover. However, if you own an IRA with a low-risk investment objective, precious metals are viable for retirement plans.
Is Silver a Good Retirement Investment?
As the third most popular asset class globally, silver is an excellent choice for IRA investment. Silver is an ideal asset for wealth protection or retirement and has high growth potential. But how do you hold physical silver in an IRA? It would be best to begin by understanding the IRS rules for owning physical silver in an IRA.
- Silver is a store of value
- It’s a hedge against inflation
- It takes up more space in storage than gold
- It provides significant portfolio diversification
- It’s a good investment during a financial crisis
How Do You Hold Physical Silver in an IRA?
Any gold, silver, platinum, or palladium bullion of a certain fineness if a bank or approved non-bank trustee keeps physical possession of it. See IRC Section 408(m)(3).
IRS – Investment in individually-directed qualified planned accounts
According to IRS rules, You can hold precious metals in an IRA account but can not take possession of the physical asset. It’s best to open an IRA with a trusted dealer, buy silver, and hold it in your IRA account. First, make sure that your bullion is produced by an accredited manufacturer and originates from a sovereign mint in the US.
Additionally, you must make sure that the bars are a specific weight if not produced in the US. Exceptions are made for bars weighing up to 400 ounces in gold, fifty ounces in platinum, and 100 ounces in palladium.
If you consider opening a self-directed IRA, finding a reputable custodian is essential. A custodian will take physical possession of your precious metals and manage the account following IRS regulations. In addition, they’ll work with a metals dealer to keep your holdings secure and within the guidelines of the IRS.
There are a number of advantages to buying silver bullion rather than silver coins
- Silver bullion is cheaper,
- Easier to store,
- Offers a higher return on investment.
- The value of silver bullion comes from its metal content alone, and it does not carry any collectible or artistic value.
- Rounds are easier to buy, they often have a lower production quality than coins. They are not backed by any government, they are less expensive than coins.
Investing in silver is tax-deferred, and you can do it by opening a silver IRA. Unlike traditional IRAs, which require you to take minimum distributions at age 70 1/2, silver IRAs do not have minimum distribution requirements. However, you should keep in mind that you need to invest your money in physical silver in order to earn capital gains. Here are the main IRS rules about Silver IRAs
- You can invest in silver through IRAs,
- You can add it to an existing one,
- As long as the metal is 99.9% pure, you can use it to invest in silver coins.
- Coins approved by the IRS include the American Silver Eagle, the Austrian Silver Vienna Philharmonic, the Australian Kookah Silver, the Canadian Maple Leaf, and the Mexican Silver Libertad.
- Your IRA can also hold pure bars that are produced by approved refiners. You cannot buy jewelry for your IRA.
Best Self-Directed IRA Custodians
One of the most important criteria in deciding on the Best Self Directed IRA Custodian is the variety of investment options available. Some custodians offer only mutual funds, while others offer many options, such as gold and silver. Aside from being a bank, a self-directed IRA custodian must be registered with the IRS, which means that they must have the proper licenses and regulatory oversight to operate. In addition, the company should clearly explain the rules and limitations of the IRA, which are unique to each individual custodian.
How to Set Up a Silver IRA
If you’re thinking of putting money into a precious metals IRA, you’re probably wondering how to set up your IRA account. First, you’ll need to decide how much money you want to invest. If you want to invest in silver, you’ll need to decide how much you want to spend. Lastly, you must choose your asset from the list of IRA approved precious metals.
best silver Ira Depository
If you have a 401(k) or other retirement plans and want to invest silver in your IRA, then you need to choose a custodian with an IRS-approved depository. They will arrange physical transport and insurance and store the coins in a secure third-party vault. But the only downside is that you may not know the quality of the metal. Beware of frauds in the precious metals market. Read up on the U.S. Commodity Futures Trading Commission (CFTC) common scams, and choose a reputable dealer.
What is a Silver IRA Rollover?
A Silver IRA is an option for investors who want to add precious metals to their retirement accounts. To begin converting your existing precious metals retirement plan, you must first open an account with a Silver IRA custodian. Most Silver IRA dealers handle the transfer of assets and funds. Establishing an account can take a few days. Once you have the account, you can start rolling your funds and assets into it. To learn more about converting your traditional IRA to a Silver IRA, you may visit Goldco.
Silver IRA Rules
When you’re ready to invest in silver, you’ll want to check the rules of the Silver IRA. Just like a conventional IRA, you’ll need to ensure that the silver you choose is 99.9% pure. Some examples of silver bullion approved for an IRA are the American Silver Eagle Coin, Canadian Silver Maple Leaf Coin, Australian Kookaburra Silver Coin, and Mexican ‘Silver Libertad’ coin. You’ll also need to buy pure bars from approved refiners and sell them as bullion to your account. And don’t get caught with a silver necklace – you have to remove it from your IRA when you decide to sell it.
How We Review Silver IRA Companies
When we evaluated the top precious metals IRA dealers and custodians, our editorial team carefully reviewed them based on the following guideline:
- What storage options do silver IRA IRA companies offer?
- What are the precious metals IRA fees that dealers charge?
- Did we find realistic positive and negative customer reviews and ratings?
- Which custodian has AAA BBB accreditation?
- What is the silver IRA company account minimums?
- Is there an ongoing lawsuit that is currently being investigated?
- In public view, what firm is more transparent and honest with investors.
- Is their website comprehensive, and Informative enough?
- Do they have a transparent buyback policy?
- Which precious metals investment dealer helps investors with the legal complexities of IRAs accounts
- Do they use phony, and unfair tactics, Vs those who use fair and realistic marketing strategies?
- Are the silver investment company and sales representatives pushing you to invest fast or being helpful?