Investing in gold and silver offers a stable investment in our fluctuating market. While gold is used more for consumer jewelry as a status symbol, silver is heavily relied on in the industrial sector for concepts including energy technologies, medical equipment, jewelry, and industrial tools. Because of the increasing silver demand and limited supply, experts are predicting that the price of silver will skyrocket over the next few years, making many consider IRA approved silver investments. When economic market conditions are scarily unstable, IRA eligible silver can be relied on as both a hedge against inflation and insurance against one’s retirement portfolio. When you rollover your retirement funds to silver with a silver ira, you can enjoy this same protection for your own accounts. Not all silver qualifies for your IRA. Your silver in IRA must meet the stringent IRS rules so take the time to understand what your options are.
Which silver coins should I be investing in?
What is IRA approved silver? We have the answer! To get your silver IRA approved, it must meet the following requirements:
- For your silver to qualify as IRA approved silver, it must have a fineness of .999, or 99.9% purity
- Your silver must be held by your custodian in a secure depository. If a company is offering you the ability to store your precious metals and silver IRA investments at home, remember this is not approved by the IRS. We do not recommend at home storage for your silver IRA investments due to IRS regulations.
- IRA contribution limits apply when getting a silver IRA approved.
- If you already own silver in your possession, you cannot add it to your Silver IRA
Avoiding Counterfeit Silver
You do need to look out for a few things when shopping for IRA eligible silver. There are a number of “counterfeit proof” coins in circulation. These coins have a special privy mark on the edge that are impossible to fake. Goldco offers a number of exclusive coins with the privy mark, including the Silver Britannia Lunar Year of the Rooster Privy and the 20th Anniversary Britannia Privy. Working with a trusted precious metals dealer is also key to ensuring that your retirement funds are in good hands.
Finding a Trustworthy Silver Dealer
As a prospective buyer of IRA approved silver, you should take the time to research the best company to work with for your IRA eligible silver. Read unbiased reviews in order to determine what company is best for you. Always be careful when buying silver on the Internet, because if you do not research the dealer first, you may work with less than honest dealers.
Millions of investors are turning to silver in IRA coins for a safer long-term asset. However, only certain metal products are permitted to be placed in IRAs. Speak with an IRA expert at 855-GOLD-IRA (855-465-3472) to learn more about the rules for eligible silver metals in your retirement account. Getting started is simple. We’ll show you the three easy steps that can put you in control of your financial security by owning physical silver.
Millions of investors are turning to silver IRA coins in search of a safer long-term asset. However, only certain metal products are permitted to be placed in IRAs. Speak with a IRA expert at 855-GOLD-IRA (855-465-3472) to learn more about the rules for eligible silver metals in your retirement account. Getting started is simple. We’ll show you the three easy steps that can put you in control of your financial security by owning physical silver.