Are you Looking for the “SILVER Lining” for Your Retirement Plan?
For the average investor, silver can be an effective means of diversifying investment assets and preserving wealth against the ravages of inflation. Although the value of silver may vary, it has an intrinsic value that is immutable and permanent. Accordingly, many experts suggest that investors should include it among their investment assets and as such, many financial advisors would recommend diversifying 10% of your retirement portfolio into precious metals.
Through most banks and brokerages, retirement account holders only options to invest in silver is through ETFs or stock purchases in mining companies. While those investments may move in a similar range with the price of physical metals, they are considered a paper asset and do not represent the physical ownership of the metals, nor could you take delivery of the metals (Unless you own over $100,000 of shares of the ETF). By establishing a Precious Metals IRA, the account holder can direct the account into physical Silver – instead of paper based silver investment!
Why buy silver bullion rounds over other forms of silver?
Silver bullion rounds are a safe, low cost and convenient way to own silver. Rounds are easy to buy, sell, count and stack. They are especially convenient when measured against other silver investments. When measured against silver coins they have the same weight and purity but can be bought for a much lower premium. Prices vary but often rounds can be bought for $2-3 less premium than coins. Since the IRA is based upon the intrinsic value of the silver, the additional premium paid for coins will never be reflected or gained. It will simply be lost funds.
The IRS prohibits retirement plans from purchasing any type of collectible including coins, however precious metals, including silver, with a fineness of .999 are eligible investments inside a retirement account. Silver can be purchased in round or coin form as well as in bullion form.
Setting up a Precious Metals IRA to Purchase Silver
A Precious Metals IRA is an IRA in which you can direct the account to be invested into physical precious metals, including silver. Most Banks and Brokerage firms do not hold Precious Metals IRA, therefore Golden State Mint works specifically with Entrust Administration Services, Inc. as an administrator of Precious Metals IRA for their clients.
Steps to Opening a Precious Metals IRA
Follow this simple, step-by-step process, and you’ll be on your way to silver savings!