The Best Silver IRA Available

• Silver is a precious metal known for its broad industrial applications as well as its status as a store of value.
• Silver bullion has generally maintained a steady value over time. Silver, like gold, is considered a precious metal and is considered to hold its value better than other commodities. Silver is a precious metal that is commonly used to make jewelry, silverware, and electronics.
• Silver has been a popular metal for investing in, along with its cousin, gold.

Investing in silver has been a popular move for many investors. Why? Because silver has become one of the most stable metals to invest in. Silver has low market risk and has historically traded for a lower premium than gold.
The silver spot price has fluctuated between $7 and $14 per ounce over the past 10 years. While the spot price fluctuates, the price of silver bullion has generally remained steady.

Who May Qualify for a Silver IRA?

The Internal Revenue Service (IRS) has strict guidelines when it comes to IRAs. Your eligibility to open an IRA depends on a few factors, including your age, your income, and the type of account you choose. Silver IRAs offer several advantages, but most of them come with restrictions. Here's a look at who can open a silver IRA.

Silver IRAs vs. Gold IRAs

What is the difference between a Silver IRA and a Gold IRA?
A Gold IRA allows investors to add gold bullion to their retirement accounts, including 401(k) plans and IRAs. Gold IRAs can be purchased through a self-directed precious metals IRA custodian.
A Silver IRA allows investors to add silver bullion to their retirement accounts. Silver IRAs can also be purchased through a self-directed precious metals IRA custodian.
Both of these types of IRAs allow investors to diversify their retirement investments with precious metals and avoid the risks associated with the stock market.

Silver IRAs vs. Other Investments

Silver as a precious metal has grown in popularity in recent years, especially since 2011 when the price of silver started to climb from a low of $14.16 per ounce (oz) to a peak of $50.84 oz in 2011. The silver price has since come down considerably, but continues to see small gains.
Silver's resurgence has largely been driven by the growing popularity of silver investing, as many Americans seek to diversify their investment portfolios. But not all investors favor silver as an investment.
Due to its volatility, silver is often considered an "uninvestable" asset. For example, the volatility of silver prices has fluctuated from month to month, or even day to day.

How a Silver IRA Works

A Silver IRA is a type of retirement account. Gold and Silver IRAs are individual retirement accounts (IRAs) that can be used to save for retirement. IRAs are similar to 401(k)s, but they differ from traditional retirement accounts because IRAs are more flexible and are not required to offer matching funds.

Advantages to a Silver IRA

If you invest in silver through a precious metals IRA, you'll earn the same tax benefits as if you invested in gold or other precious metals.
You can invest in silver bars, coins, rounds, and bullion.
You can place physical silver into your IRA.
Silver is an affordable precious metal that is likely to increase in price over time.

Disadvantages to a Silver IRA

The disadvantages to investing in silver are similar to the disadvantages to investing in gold.
Silver is a precious metal, which means it is not as basic as gold. Silver is rarer than gold, and harder to mine, which means it is not nearly as accessible to investors as gold.
Silver is also an industrial metal, which means it is not used as a spending currency like gold or the U.S. dollar.

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

The Bottom Line

Any silver investor knows that buying silver coins carries the possibility of a significant loss. When the silver price collapses as it did in 2013, then investors who invest in silver coins may be as badly hit as those who avoid silver altogether.