Silver can be an attractive investment option for those seeking a physical asset diversification strategy, although not all forms are eligible for inclusion into an IRA account.
IRS-approved silver must adhere to strict purity requirements set by the IRS and come from an accredited refiner, assayer or mint. Popular items eligible for an IRA account include bullion coins and bars from manufacturers such as Sunshine Minting and PAMP Suisse.
Purity
When investing in silver for an IRA, it’s essential that you select an option tailored specifically to your needs. The IRS mandates that any precious metals held within an IRA meet certain purity levels (99.9%). When researching precious metals IRA companies, look for those offering an array of products without pressure tactics like fear-mongering.
Precious metals IRAs provide an opportunity to diversify your retirement portfolio and protect against economic volatility, but like all investments they pose risks that should be carefully assessed prior to making any decisions. It is vital that you do your homework and consult with a tax professional prior to making decisions on precious metals investments.
Opening a precious metals IRA doesn’t need to be time-consuming or costly; all it requires is finding a reputable precious metals IRA company with licensed and insured services to guarantee that you receive top quality service and that your investments are safe – leaving you free to focus on building an asset-rich future!
Taxes
Though commonly referred to as Gold IRAs or Silver IRAs, all are the same self-directed individual retirement accounts offering investors tax advantages in various metals through self-directed individual retirement accounts.
Silver must meet certain purity levels to qualify as an investment retirement account (IRA), and come from an official national government mint or manufacturer. Furthermore, slabbed or certified coins and proofs aren’t allowed – you should confirm with the seller beforehand whether their product meets these criteria before purchasing any silver coins for an IRA account.
Silver IRAs can be an effective way to diversify your investment portfolio and hedge against inflation. But remember, unlike stocks or bonds, holding silver won’t yield dividends or interest payments, and must begin taking mandatory distributions at age 72 to avoid facing an excise tax penalty of 50%. Therefore, choosing an experienced custodian and dealer who will help guide you through IRS regulations without pressuring or scaremongering is key for long-term success.
Storage
Silver IRAs offer an excellent way to diversify retirement investments and protect against economic uncertainties, but these types of IRAs come with unique risks that are specific to precious metals investing, including limited liquidity, regulatory compliance issues and storage issues. Therefore, it is vitally important that any decisions regarding Silver IRAs be discussed with a qualified retirement planner first.
For you to open a Silver IRA, it is imperative that you work with an IRS-regulated custodian offering IRS-approved bullion products. A trusted provider will have positive customer reviews, full insurance coverage and secure storage solutions available. Scottsdale Bullion & Coin is an approved custodian that offers several such coins including 1 oz Silver Krugerrand which features the iconic springbok antelope bounding across savanna on its reverse, mintage year and weight information – learn more by calling Scottsdale Bullion & Coin today.
Convenience
No matter your investing goals, precious metals offer a safe and straightforward means to diversify your investment portfolio. One example of such precious metal investments is the 2017 Silver Krugerrand coin; an exquisite and distinguished piece made with 99.999 fine silver that boasts $5 face value with advanced security features as well as strong government backing.
Bullion coins approved for investment through an IRA must meet certain purity levels and be produced at recognized government mints, making the South African Krugerrand an attractive option for those looking to capitalize on precious metal market growth potential.
Silver IRA investments can be done in two ways, either directly through purchase or indirectly via a self directed individual retirement account (Self IRA). OWNx provides fractional ownership services that enable investors to own portions of large silver and gold bars or coins, thus lowering costs while making them more accessible – call your OWNx Account Representative now to learn more!
