Get the Best Investment Results with a Silver IRA

• Silver prices have been on a tear for the last three years, appreciating by more than 12% each year.
• Silver IRAs allow investors to purchase silver bullion in an IRA, which can offer tax advantages and inflation protection.
• Silver IRAs are offered only by a few select brokerage firms.

With silver prices showing double-digit percentage increases over the last three years, silver IRAs are an attractive alternative to paper assets. Unlike stocks, bonds, and mutual funds, silver doesn't fluctuate with the economy's ups and downs. It also doesn't pay an income or dividend, so investors aren't looking for silver as a source of income.
The best reason for buying silver is for its investment potential. Since 2002, the price of silver has increased by more than 700%. Many analysts project that silver prices could climb even higher in the decades to come.

A Beginner's Guide to Silver IRAs

Getting started with an IRA is simple. A gold IRA, silver IRA, and even a gold 401(k) or silver 401(k) can be set up with as little as $1,000. After opening an account, you can choose among the many types of precious metals offered.

Understanding Silver IRAs

A silver IRA is a type of IRA that allows investors to hold physical silver in their IRA. Silver IRAs are similar to silver mutual funds, in that the money in the IRA is invested in silver. However, silver IRAs are more advantageous because investors are not limited to the coins and bullion that silver mutual funds invest in.

How the IRA Works

A self-directed IRA allows investors to hold silver and other precious metals. A self-directed IRA holds the same types of investments as a regular IRA, including stocks, bonds, and mutual funds. However, unlike a regular IRA, a self-directed IRA allows the investor to choose their IRA manager.
For example, an investment advisor may have a portfolio of stocks and bonds, for instance. The investor can direct their IRA to purchase that stock or bond portfolio.
A self-directed IRA is a great way to invest in precious metals since investors can ensure they are purchasing the precious metals at the best price.
Some investors may worry about storing large amounts of gold and silver within their IRA. However, most investors don't need to worry about storing their precious metals since most IRA custodians can arrange for safe storage.

How Much Can I Store?

Your options include silver coins, rounds, and bars. The silver you buy will weigh .999 fine or better. Many investors choose silver rounds. Silver bars are also popular as they are easy to stack and store.
How Much Can I Buy?
Your Silver IRA can hold up to 10,000 troy ounces (31.1 kg) of silver bullion. Next, you have to determine the type of silver bullion you want in your IRA.
Coins: U.S. Silver Eagles and Canadian Maple Leafs are the two primary silver coins you can buy. American Eagles are .999 pure, while Maple Leafs are .9999 pure.
Bars: Silver bars are easy to stack and store, and come in 1-ounce, 5-ounce, 10-ounce, 100-ounce, 1,000-ounce, and 5,000-ounce sizes. Silver bars will weigh .999 fine or better.
Rounds: Silver rounds are easy to stack and store, and come in 1-ounce, 5-ounce, 10-ounce, 100-ounce, and 1,000-ounce sizes.

How to Start a Silver IRA

The process of starting a silver IRA is easy. First, inform your IRA custodian that you want to allocate a portion of your funds to silver. Then, the custodian will allocate the appropriate amount of funds, and instruct you on how to purchase silver.

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

The Bottom Line

Investing in silver bullion has been popular for decades. Silver bullion is a safe way to invest in silver, but it can be difficult to upgrade your silver holdings to numismatic silver. You can take advantage of a tax-deferred account such as a precious metals IRA. Talk to your IRA administrator about opening a precious metals IRA.