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If you're like many, you're working hard now to make sure you're able to enjoy your retirement years. And, you know that investing your money is the best way to help it grow so you'll have even more wealth when you're ready to retire. However, you may be wondering it setting up a Silver IRA is a better alternative to leaving your money all invested in the stock market.
To give a short answer to this question, yes, investing some of your retirement savings into a Silver IRA is a good solution to help you diversify your portfolio and ensure that you have the money you'll need when you're ready to retire. If you've glanced online looking for a Silver IRA company, you may feel overwhelmed with how many different companies are out there. This can make it difficult to determine which is the right one to trust with your hard-earned money and help ensure you're positioned where you want to be when the time comes to retire.
To help make this decision easier for you, we've put together reviews of five of the best Silver IRA companies. Read through our reviews to learn a little more about the background of each company, the various silver coins and bars they offer for IRAs, and other useful information to help you determine which is the right choice for you.
Silver IRA Company Reviews
Product Image & Ratings
If you're on the hunt for the best Silver IRA company, Goldco should be high on your list of consideration. In business since 2006, Goldco aims to help its customers build their wealth and set themselves up for a comfortable future by investing in precious metals. They are highly reviewed by past customers and have earned an impressive A+ rating from the Better Business Bureau and Triple A rating from the Business Consumer Alliance.
Goldco also makes it easy to either set up a new Silver IRA or rollover an existing retirement account into a Silver IRA. Their team of experts will walk you through the process and connect with an IRA custodian to facilitate the transfer of funds.
Once your money arrives at Goldco, you'll enjoy a large selection of IRA-approved silver coins and bars you can add to your new Silver IRA. The IRA-approved silver coins available through Goldco include:
Silver IRA Coins
Silver IRA Bars
In addition to adding silver to your IRA, Goldco also offers gold coins and bars if you're looking to further diversify your portfolio.
Goldco will help ensure the silver coins and bars you purchased and securely shipped to an IRS-approved depository, as mandated by the IRS. These depositories offer state-of-the-art security to keep your silver coins and bars protected until you're ready to begin making disbursements once you reach the age of 59 ½.
If you're intrigued by Goldco and would like to learn more about their investment options, visit their website to request a free Self-Directed IRA guide.
Augusta Precious Metals also has a lot to bring to the table when it comes to setting up a Silver IRA. With nearly a decade of experience Augusta Precious Metals strives to put their customers first. Some of their values outlined on the website include respect, commitment, knowledge, accessibility, transparency, coordination, and selection.
Whether you're looking to set up a new Silver IRA or would prefer to rollover an eligible retirement account into a Silver IRA, Augusta Precious Metals can help you. They work alongside you throughout the process to ensure that all the necessary forms are completed and that you follow all IRS requirements to avoid facing any penalties.
After you transfer the funds from your bank account or existing retirement account, a member of the team can offer support with selecting and adding the silver coins and bars to your new Silver IRA. Some of the IRA-approved selections include:
When you set up a Silver IRA with Augusta Precious Metals, you'll be able to choose from a variety of IRS-approved depositories across the country. Some of the locations include:
Regardless of which location you choose, you can rest easy knowing your silver will be protected. All of the IRS-approved depositories feature first-rate security and monitoring to safeguard your investment.
If you are also interested in investing in silver as a personal investment, Augusta Precious Metals can help you with that as well. They offer premium silver and common silver bullion that investors can purchase. Some of the pieces you can choose from include:
Common Silver Bullion
Next, let's take a look at Birch Gold Group, another reputable company in the gold investment industry. The company is highly reviewed by review organizations, such as the Better Business Bureau and the Business Consumer Alliance, and has earned top ratings from previous customers who were satisfied with the level of service they received.
Birch Gold Group can help you open a Silver IRA. They can assist with opening a new account or rolling over your existing retirement account if it is eligible. Either option gives you the opportunity to invest up to $6,000 each year (or $7,000 for individuals over the age of 50) in silver so you can watch your financial prospects grow as you near the age of retirement.
The member of the Birch Gold Group team that you work with will help you through the IRA set up process and coordinate with an IRA custodian to ensure funds from an existing IRA are properly transferred.
You'll enjoy a large assortment of silver coins and bars to choose from for your IRA. These options include:
In addition to adding silver to your IRA, you may also decide you wish to diversify your account by investing in other precious metals. Birch Gold Group also offers their customers the ability to invest in gold, platinum, and palladium.
Coins and bars purchased for an IRA can be stored with either Brinks Global Services or in the Delaware depository. Both of these storage solutions take impressive security measures to protect your investment, so you really can't go wrong with either option.
If you would like to purchase silver as a personal investment, outside of an IRA, you can choose from the IRA-approved coins listed above as well as the Peace Silver Dollar, Morgan Silver Dollar, and Walking Liberty Half Dollar Coin.
When you're looking to set up a Silver IRA, Regal Assets should definitely be a top company you consider. Regal Assets has a stellar reputation in the precious metals investment industry. They have been ranked #20 in the financial services category on the INC 500. Regal Assets works to make sure each client's needs are met, rather than using the pushy sales approach that so many other companies use.
With Regal Assets, you can open a standard Silver IRA where you hold silver coins and bars, or you may choose to open a special Regal IRA. A Regal IRA allows you to hold silver (and other precious metals) along with cryptocurrencies in the same account. This can offer you a wonderful opportunity to diversify your portfolio with precious metals and cryptocurrencies to help put you in a better financial position for your future.
Below are some of the silver coins and bars and cryptocurrencies that are offered by Regal Assets:
You may also decide that you'd like to purchase some silver as a personal investment. This is also possible with Regal Assets. Or, you may decide to purchase one of their investment packages that includes a mix of precious metals and cryptocurrencies. These packages, with a value ranging between $5,000 and $250,000, allow individuals to save for a major event or prepare for an emergency.
Finally, don't forget about Noble Gold. They have 20 years of experience in the precious metals investment industry. They are highly trusted and reviewed by past clients and various review organizations.
With Noble Gold, you'll be able to choose from many different silver investment options. One option you have is to set up a Silver IRA. The IRA-approved silver coins offered by Noble Gold include:
Noble Gold also offers investors the opportunity to invest in rare silver coins such as the Morgan Silver Dollar.
You may also invest in silver by purchasing one of the Royal Survival Packs offered by Noble Gold. There are eight different packs designed to meet the needs of different investors with values between $5,000 and $500,000. Investing in one of these packs can help you make sure you're prepared for whatever life throws your way.
When you make a person investment in silver with Noble Gold, you can choose to store your metals at home, or you may also choose to store your metals in their secure Dallas, Texas storage location. This facility offers segregated storage to help provide you with the peace of mind that your silver coins and bars will be safe and ready when you want them.
Since there are so many Silver IRA companies out there, you have the opportunity to be very selective and don't need to settle for anything less than what will meet your expectations and help you achieve your financial goals. Use the criteria outlined below to help you determine which Silver IRA company offers what you're looking for.
Experience and Reputation
Your investment decision can completely backfire if you choose to work with an inexperienced company or one that is not trustworthy. Chances are you'll be investing a large sum of your hard-earned money over the coming years before you retire, and you want to feel confident that your money is in good hands. Choosing a company that knows what they are doing and has established a good reputation in the silver investment industry is crucial.
There are a few different items you can check on to research this information. First, check for how long the company has been in business. This can help you confirm that you're not working with a fly-by-night company.
Next, check reviews from past customers and look for any patterns or red flags. These could include poor customer relations, shady practices, or hidden fees.
Finally, check the company's standings and ratings with organizations such as the Better Business Bureau and the Business Consumer Alliance. These organizations have strict criteria they use to evaluate companies, and if the silver investment company you're considering has high ratings (A+ from the Better Business Bureau and Triple A from the Business Consumer Alliance), you should be able to feel confident about giving them your business.
Available Support and Guidance
Especially if you're new to investing in silver or other precious metals, the process can be a bit confusing. Finding a company that offers excellent customer service and helpful representatives can help you navigate this new investment journey.
You'll also want to be sure to choose a company that will help complete the IRA rollover process with you (if you plan to rollover an IRA). This will help ensure that you don't face any fees or penalties from the IRS.
Selection of Silver Coins and Bars
Next, assess the selection of silver coins and bars offered by each company. There are IRS regulations that dictate that silver must be at least 99.9% pure to be held in an IRA, but even with these regulations in place there are still numerous coins and bars that are eligible. However, as you compare different silver investment companies, you'll notice that some offer a greater selection of coins and bars than others.
IRS regulations also limit the storage options for coins and bars held in an IRA. They must be held in an IRS-approved depository.
There are many IRS-approved depositories located across the country, but each silver investment company may only offer storage at a few of them. If having your coins and bars stored in a particular depository is important to you, be sure to confirm that this is possible with each company you're considering.
Finally, take stock of the fees that each company charges their customers. You'll have to pay fees regardless of which company you choose to work with, but these fees can vary, so doing some research beforehand can help save you money.
Goldco earned the number one spot as our favorite Silver IRA company. As you read above, there is a lot to like about Goldco, and you should feel confident giving them your business.
Goldco has been in business since 2006, so they are an experienced leader in the gold and silver investment industry. They offer a knowledgeable and experienced team to help you navigate investing in silver and setting up a Silver IRA.
You'll enjoy a large selection of silver coins and bars that you can add to your new IRA. If you have any questions about which coins you'd like to add, a member of the team will be able to help you make the right decision for your needs. In addition to adding silver coins and bars to your IRA, you may choose to further diversify it by adding gold coins and bars, since these are also offered by Goldco.
We think you'll be impressed with the level of service offered by Goldco. Visit their website today to reach out to a precious metals investment expert to learn more or request their free Self-Directed IRA guide!
What is a Silver IRA?
Silver IRAs are Self-Directed IRAs where you're able to hold silver coins and bars rather than the stocks and bonds held in a traditional IRA. When you set up a Silver IRA, you are helping do diversify your portfolio and protect yourself against future stock market crashes.
Silver IRAs offer many of the same tax advantages that are associated with traditional IRAs. So, in addition to diversifying your portfolio, you'll be able to take advantage of these tax benefits at the same time.
When is the best time to purchase silver?
Average silver prices tend to be a bit more volatile than gold, which can make it a little difficult to determine which time of the year is best for buying silver. However, trends indicate that the price of silver is generally lower in June, August, and October.
How can I add silver to my IRA?
Yes, silver can be added to an IRA, but you'll need to open a Self-Directed IRA. Also referred to as a Silver IRA, Precious Metals IRA, or Gold IRA, this type of IRA allows you to hold alternative assets in a retirement account.
If you're interested in adding silver to your IRA, you can reach out to a silver investment company. They can help you with either setting up a new Silver IRA or rolling over an existing IRA into a Silver IRA.
How much of my portfolio should contain silver?
The answer to this question can vary from person to person based on your current age, comfort level, and other factors. Since silver can be a bit riskier, if you're nearing the age of retirement, you'll likely want a smaller percentage of your portfolio to contain silver than if you still have many years before you're ready to retire.