American Hartford Gold is a privately held gold dealer founded in 2015 and based in Los Angeles, CA.
Costs:
American Hartford Gold requires a minimum $10,000 investment for gold IRA accounts. The company charges a $180 annual IRA fee that can range based on the investment amount. Annual IRA fees and storage costs are covered for up to three years on eligible accounts.
Shipping:
All orders include free shipping, insurance, and tracking.
Payment Options:
The company accepts wire transfers and checks.
Other Services:
American Hartford Gold offers a price-match guarantee and a buyback program. Investors can also get up to $2,500 in free silver on qualifying purchases.
Augusta Precious Metals is a family-owned business in Tarzana, CA, that has been in operation for over 50 years.
Costs:
Augusta Precious Metals requires a minimum $50,000 investment for gold IRAs. The company charges a one-time $50 setup fee. Investors will also be charged an annual $180 fee for storage and maintenance.
Shipping:
The company offers free insured shipping.
Payment Options:
The company accepts wire transfers for any amount and personal checks for up to $50,000.
Other Services:
All clients meet with a Harvard-educated economist. All purchases and products come with price protection. Also, the company offers a 100% money-back guarantee within seven days of purchase for new customers who buy premium precious metals.
Birch Gold Group is a precious metal dealer founded in 2003 and based in Burbank, CA.
Costs:
The company charges a one-time gold IRA setup fee of $50 and a wire transfer fee of $30. Investors will be charged $180 annually for storage and maintenance costs. If more than $50,000 is transferred to an IRA account, the company will cover all first-year fees.
Shipping:
The company offers free shipping for cash purchases over $10,000.
Payment Options:
The company accepts wire transfers.
Other Services:
Birch Gold Group offers a 20-page "Investment Kit" that explains how to get started in precious metal investing.
Up to 10% back in silver for investments over $100,000
Overview:
Goldco is a privately held precious metal dealer that was founded in 2006 and is based in Woodland Hills, CA.
Costs:
The company requires a minimum $25,000 investment for gold IRAs. There is a $175 annual fee for IRA accounts holding $25,000 to $100,000. Accounts with more than $100,000 will be charged a $225 annual fee.
Shipping:
The company does not charge for shipping.
Payment Options:
Goldco accepts checks, cashier’s checks, and wire transfers.
Other Services:
Goldco offers financial articles and resources to educate investors about precious metals and IRAs. Their website provides free educational resources in blogs, eBooks, videos, and a live price tracker. Also, fees are waived for the first year, and new investors receive 10% back in silver coins. Finally, the yearly storage cost is reimbursed in like-value silver when investors make a $25,000 minimum purchase.
Goldline is a precious metal dealer that was founded in 1960 and is headquartered in Los Angeles, CA.
Costs:
Gold IRA investors are charged 1% of the total asking price for the investments, or $15, whichever is lower. Storage costs are billed bi-annually.
Shipping:
Orders are shipped for free.
Payment Options:
Goldline accepts wire transfers.
Other Services:
Goldline offers a seven-day price guarantee program for purchases over $10,000. Also, the company provides educational resources to new investors who want to learn about the precious metals industry and how to get started with investing.
Lear Capital was established in 1997 and is located in Los Angeles, CA.
Costs:
The company requires a minimum $25,000 investment for gold IRAs. There is a $180 annual IRA fee for investments below $100,000. This fee includes shipping, storage, and insurance. For investments over $100,000, the annual fee is $225.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts wire transfers and checks.
Other Services:
Lear Capital offers a library of educational resources regarding precious metal investing. The company also has no-fee buyback and price-match programs. Also, the yearly storage cost is reimbursed in like-value silver when making a minimum purchase, and investors receive more like-value silver for every additional $25,000 investment.
Money Metals Exchange is an online bullion dealer that was founded in 2010.
Costs:
The company charges a $96 fee for holdings up to $15,999. Investments between $16,000 and $99,000 are charged a 0.59% fee on the total amount. Investments between $100,000 and $999,000 are charged 0.49%. Investments between $1 million and $2.5 million are charged 0.39%.
Shipping:
The company offers free shipping on orders over $500.
Payment Options:
Investors can pay via credit or debit card, PayPal, check, wire transfer, ACH transfer, money order, or cryptocurrency.
Other Services:
The company has an education center on its website that provides investors with information about previous metals.
Noble Gold is a precious metal brokerage firm in Pasadena, CA, established in 2017.
Costs:
The company requires a minimum $2,000 investment for gold IRAs. Investors will be charged an annual $225 administration fee. In addition, there is an annual $250 storage fee that includes insurance.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
Noble Gold Investments accepts wire transfers.
Other Services:
The company offers a buyback program and a free investment kit to educate investors on physical assets. Noble Gold Investments also offers Survival Packs, which are pre-selected precious metal bundles. The company’s experts select a blend of precious metals for each Survival Pack tier. Finally, the company offers segregated storage.
Oxford Gold Group is a precious metal company based in Los Angeles, CA, that was founded in 2017.
Costs:
The company requires a minimum $7,500 investment for gold IRAs. Investors will be charged an annual $175 fee for accounts holding less than $100,000. For accounts holding over $100,000, the annual fee will be $225. The fee includes storage costs.
Shipping:
Oxford Gold Group offers free shipping.
Payment Options:
The company accepts wire transfers.
Other Services:
The company offers a comprehensive investment guide and additional informative videos and articles on how to invest in physical assets. Also, Oxford Gold Group offers buyback and no-fee liquidation programs.
Regal Assets is a California-based precious metals dealer that was founded in 2009.
Costs:
The company requires a minimum $10,000 investment for gold IRAs. There are no annual fees for IRA accounts.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts wire transfers.
Other Services:
Regal Assets also offers pre-packaged assets at varying investment tiers. The company also offers a buyback program and segregated storage. Finally, investors are not charged any fees for the first year.
Rosland Capital is a Los Angeles-based firm that was founded in 2008.
Costs:
The company requires a minimum $10,000 investment for gold IRAs. Investors will be charged a one-time $25 fee and an annual fee of $225 that includes account maintenance.
Shipping:
The shipping prices vary based on the products, weight, and shipping location.
Payment Options:
The company accepts checks and wire transfers.
Other Services:
Investors receive $1,000 in free gold if they order a minimum of $20,000.
To be considered IRA-approved, silver products must meet minimum fineness requirements, meaning they must contain a certain percentage of pure silver. For example, American Silver Eagles, which are a popular IRA-approved silver coin, must contain at least 99.9% pure silver.
IRA-approved silver products include silver coins and bars from government mints and private refiners that meet the IRS requirements.
When choosing the best silver IRA for you it is important to know what options are available. Precious metal IRAs are similar to traditional IRAs, meaning that there are several different types of IRAs that you can choose from:
Traditional Silver IRA
This type of IRA is a tax-deferred retirement account that allows you to invest in silver bullion and coins, which are held in a custodian-approved depository until you reach retirement age. Once you reach retirement age, you can either withdraw your silver or sell it for cash.
Roth Silver IRA
Similar to a traditional IRA, a Roth IRA also allows you to invest in silver bullion and coins, but with the key difference that contributions are made with after-tax dollars. This means that any withdrawals made during retirement are tax-free.
SEP Silver IRA
A Simplified Employee Pension (SEP) IRA allows self-employed individuals and small business owners to set aside funds for retirement. You can invest in silver bullion and coins through a SEP IRA, which provides tax benefits and potential investment growth.
Solo 401(k) Silver IRA
This type of IRA is designed for self-employed individuals and small business owners who don’t have any employees other than themselves or their spouse. With a Solo 401(k) Silver IRA, you can invest in silver bullion and coins, with contributions made pre-tax.
Simple Silver IRA
A Savings Incentive Match Plan for Employees (SIMPLE) IRA allows small businesses to offer a retirement plan to their employees. While not all SIMPLE IRA plans allow for investment in silver bullion and coins, some custodians may offer this option.
It’s important to note that not all custodians offer all of these types of silver IRAs. Be sure to do your research and choose a reputable custodian that offers the type of IRA that best fits your retirement goals and investment preferences.
Why Invest in a Silver IRA?
The demand for precious metals only continues to rise. As technology evolves, silver may be needed more and more to keep up with it. Here are the advantages of investing in a silver IRA:
Private Purchases – When purchasing a silver IRA, your purchases are delivered right to your door. All your investments are private and your financial decisions are your own.
Growth Potential – Silver is a limited source, so it has the potential to grow exponentially over time.
Liquid Assets – Silver is one of the most sought-after assets due to its versatility. It is one of the most liquid assets you can own because of its flexibility when it comes to trading.
Silver IRA Pros and Cons
Pros
Wealth Protection
In such a volatile economy, many Americans are worried about losing their hard-earned wealth. That’s why financial advisors recommend allocating between 5% to 25% of your portfolio for liquid assets like precious metals. In an economic collapse, silver and other precious metals can be easily liquefiable, reducing the stress of wondering how your stocks will perform in a market crash. In a way, you can think of a silver IRA as disaster insurance.
Tax Benefits
The same tax laws apply to silver IRAs as regular IRAs. There are some lesser-known tax benefits as well, such as relief from inheritance tax and saver’s tax credit.
Flexibility and Self-direction
Unlike regular IRAs, which are usually employer-directed, a silver IRA lets you choose what you want to invest in.
Cons
No Interest, Dividends, or Yields
Most investors are obsessed with the dividends or interest payments that stocks and bonds provide. A silver IRA will not yield you either of these.
Fees and Expenses
There are several expenses you will incur from setting up and maintaining a silver IRA. You may be charged to set up the account initially. You will certainly be charged an annual custodial and storage fee.
Silver IRA FAQ
How Can You Withdraw Money From a Silver IRA?
Money can be withdrawn from your silver IRA at your convenience. However, if the money is withdrawn from your account before you have turned 59 and a half, you will face a federal penalty charge of 10%.
How Do You Fund a Silver IRA?
Silver IRA rollover is a common way to fund an IRA. With the rollover program, any amount of funds that are in another IRA account can be withdrawn and used to fund your silver IRA, usually within 60 days of arrival. It is the most common way to fund your silver IRA account when you have an employee-sponsored retirement plan such as a 401(k). One thing to note is that this method can only be used once a year and once per account.
What Are The Steps Involved to Set Up Your Silver IRA Account?
The steps are simple and are as follows:
Open a Precious Metals IRA Account
Transfer Your Funds
Select a Silver IRA Account
Metals Will Be Shipped Directly Into Your Account
Is it Better to Invest in Silver or Gold?
Most analysts agree that investing in silver is a better and safer option than investing in gold. Some experts predict that silver can provide a better return compared to gold. Silver is also more stable than gold and performs well in the short and medium term. It is essential to the jewelry industry and industrial manufacturing. No investment comes without risks, but silver might be a safer bet than other options. If you want greater peace of mind and a good retirement savings plan, investing in silver may be the way to go.
What is IRA-Approved Silver?
IRA-approved silver refers to silver coins, bars, and rounds that meet the fineness criteria set by the Internal Revenue Service (IRS) and are produced by a recognized refiner or a government mint. To be IRA-approved, a silver bar must be at least 99.9% pure silver and produced by an accredited manufacturer. Additionally, it must be produced in a specific weight, typically ranging from 1 oz to 100 oz. The same goes for coins, although instead of weight requirements, they must have a legal tender status in their country of origin, which means that they can be used as a form of currency.
Final Thoughts
Silver is roughly eight times more abundant than gold and has a relatively stable intrinsic value. The price of silver has steadily risen, making it a popular choice for precious metal IRA accounts. Diversifying your assets to physical silver can help protect you against inflation and stock market volatility. If you're looking to open a silver IRA account, consider the previously mentioned companies.
