If you want to safeguard your financial future, these are the best companies to buy silver from. Our comprehensive silver IRA reviews and analysis highlight the top options for investing in precious metals, ensuring you make informed decisions for a secure and prosperous retirement.
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 open an IRA within three days and 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 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.
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.
A silver IRA is a self-directed IRA account that holds precious metals, such as gold, silver, platinum, or palladium. Sometimes referred to as precious metal IRAs, the Internal Revenue Service (IRS) has approved silver IRA accounts to hold alternative assets like real estate, commodities, and cryptocurrency.
These accounts come with specific rules you must follow, such as who you use to administer the account, the types of silver you use to fund the account, and where you store the assets. The best silver IRA companies listed above can ensure your IRA complies with government regulations and teach you how to buy silver with IRA money.
IRA-Approved Silver Explained
Before opening an IRA with one of the best silver IRA companies above, it’s important to understand the types of assets you are allowed to purchase to fund the account. What is IRA-approved silver? The IRS has precise criteria for what can be considered a suitable investment for IRAs:
Silver must have a minimum purity level of 99.9%
Silver must be purchased from an approved manufacturer or a national government mint
You’ll work with the dealer to select which silver bars and coins to buy. Some of the most common choices include American Eagle Bullion bars and coins and Canadian Silver Maple Leaf coins.
In addition to holding only IRA-approved silver products, you must also use an approved custodian to administer the account. You’ll also need to store the silver in an IRS-approved depository, not your home. Approved depositories include Delaware Depository, Brinks, and A-M Global.
Types of IRA-Approved Silver Products
IRA-approved silver products manufactured in government mints and refineries must meet minimum fineness requirements, meaning they must contain a certain percentage of pure silver. For example, American Silver Eagles, which are popular IRA-approved silver coins, must contain at least 99.9% pure silver.
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 types of IRAs 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 silver Roth IRA also allows you to invest in silver bullion bars 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 spouses. 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. This includes silver. Here are the advantages of investing in a silver IRA:
Relatively Affordable Diversification
Silver is more affordable than gold, which opens up more opportunities for investors with lower budgets to diversify their retirement portfolio and hedge against inflation. Experts consider silver a safe-haven asset, as it tends to hold its value during upheaval.
High Demand Asset
The global and industrial demand for silver will increase its value over time. Beyond the jewelry market, silver is a vital component of power equipment, solar panels, and semiconductors and batteries. Silver is a limited source, so it has the potential to grow as the demand for it rises.
Greater Flexibility and Customization
Unlike regular IRAs, which are usually employer-directed, a silver IRA lets you choose what you want to invest in. It’s also considered a relatively high liquidity asset, making it more conducive to trading.
What Is a Silver IRA Rollover?
Funding a silver-backed IRA through a rollover is a simple and tax-free way of transferring funds from a 401(k) or other existing IRA directly to a silver IRA account. An experienced silver IRA custodian (more commonly known as a silver dealer) can guide you through the rollover process.
To transfer an IRA to silver, you’ll start by opening an IRA with your chosen company. Then, you’ll fund the account by transferring funds from an existing retirement account into the new silver IRA. Once your IRA is funded, you’ll decide what precious metals you want to buy and store the assets in one of the many approved depositories located throughout the United States.
Silver IRA Investment Pros and Cons
Pros
Wealth Protection
When you allocate a portion of your portfolio to precious metals and alternative assets — financial experts typically recommend between 5% and 15% — your portfolio can better withstand a volatile economy over time. Silver is an excellent hedge against inflation and economic downturns because it can be liquefied quickly. 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. Depending on the type of IRA you open, you can deduct your contributions now or earn tax-free distributions in retirement. There are some lesser-known tax benefits as well, such as relief from inheritance tax and saver’s tax credit.
Diversification
Experts agree that a well-diversified portfolio will serve investors better in the long run. Allocating a portion of your accounts to silver and other precious metals, in addition to traditional investments, can help protect you during economic volatility.
Cons
No Interest, Dividends, or Yields
A silver IRA will not yield you the same dividends or interest payments that stocks and bonds provide. Instead, your gains will be determined by how much the silver price rises between the time you purchase the metal and when you want to sell it. There is no guarantee you will make money on your investment.
High Fees and Expenses
A silver IRA comes with fees that vary based on the size of your account, including setup, maintenance, and storage. Also, precious metal dealers also include a markup of 10% to 35% on all products purchased, which could eat into your ROI.
Highly Regulated
The assets housed in a silver IRA cannot be stored at home or in a safe deposit box at the bank. Instead, your metals will be stored in an approved depository. There are also limits on the types of IRA silver products you can use to fund an IRA.
Silver IRA Investing 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 turn 59 1/2 years old, you will face a federal penalty charge of 10%.
What Are the Best Funding Options for a Silver IRA?
An IRA rollover is one of the best funding options for IRA silver. With a rollover, you transfer funds from another IRA account into the new silver IRA, usually within 60 days of arrival. It is the most common way to fund your silver IRA account when you have an employer-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 Do I Need to Set Up a Silver IRA?
Starting a silver IRA involves selecting a silver IRA custodian to open an account, choosing the silver metals you want to add to your portfolio, and funding your IRA. This process of opening a precious metals IRA is sometimes referred to as a silver IRA rollover. The steps are simple, and the top silver IRA companies will guide you through the following steps:
Open a precious metals IRA account
Transfer your funds from an existing investment account
Select your silver metals to purchase
Move the metals into your new silver IRA account
Is it Better to Invest in a Silver or Gold IRA?
Most analysts agree that investing in a silver IRA is a better and safer option than investing in a gold IRA when it comes to returns. Silver is also more affordable than gold, and it has historically performed well in the short and medium term. However, no investment comes without risks. If you want greater peace of mind and a diversified, time-tested retirement savings plan, investing in silver may be the way to go.
What Does IRA-Approved Silver Mean?
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 weigh between 1 ounce and 100 ounces. 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.
