Benefits of Adding IRA Eligible Silver to Your Retirement Portfolio
Earlier, Individual Retirement Accounts (IRAs) could only be funded with bonds, cash, and stocks.
After 1997, when Congress voted to approve silver coins, the International Revenue Service (IRS) agreed to expand investment options for people who wanted to diversify their retirement portfolios.
Since then, people have been able to buy gold and silver bullions and coins online to add to their precious metals IRA.
If you want to do the same, it’s best to first learn how to invest in gold or silver to make money before putting all your ‘good’ eggs in one basket.
If you’re interested in silver investing, there are specific laws related to silver coin investments.
Learn how to ensure security and maximum returns by choosing only IRS-approved silver coins in your precious metals IRA.
What Constitutes as IRA Approved Silver?
- The law states that silver can be added to retirement portfolios for diversification in Self-Directed IRAs. Although similar to traditional IRAs, SD-IRAs aren’t limited to traditional assets as they can include various diversification options, including real estate, precious metals, and other assets.
- Silver that has at least 0.999 fineness quality can be added in the form of bullions, bars, coins, and rounds.
- It must be fabricated by NYMEX, COMEX, or other approved manufacturers with a certificate of authenticity, ISO 9000, and original mint packaging.
IRA Approved Silver Coins – Examples
Silver American Eagle (1 Oz.)—The laws specifically mentioned American Eagles Silver as they’re a classic and 99.9% pure. These coins are one of the world’s only bullion coins that are fully backed by the USA’s government.
Proof Silver American Eagle (1 Oz.)—These unique coins have a lower mintage and allow coin collectors to gain benefits that extend beyond their purity and weight.
Silver Canadian Maple Leaf (1 Oz.)—With a 99.9% purity level, Canadian Maple leaf bullion coins rank high in popularity as they’re considered the world’s purest coins.
Why Choose Silver IRAs?
The resilient precious metal has many medicinal and industrial uses, including soldering, vehicle combustion, electronic devices, water purifiers, and more, resulting in increased demand.
As a relatively cost-effective tangible asset than most of its counterparts, silver has shown tremendous growth during the last decade.
This precious metal’s durability and versatility make it an attractive investment option for those looking to diversify their retirement portfolios.
With a half century’s worth of experience, Orion Metal Exchange is a one-stop solution for all your precious metal investment needs.
We’re one of the most renowned IRA companies with reliable custodians who can guide you in the right direction and protect all your savings while ensuring maximum returns.
We also provide secure private vault storage rentals at guaranteed affordable prices.
