Best Silver IRA Companies
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Do you dread logging in to check on your retirement investment account? It seems like we keep hearing more and more bad news about the stock market every day. If you're looking for an alternative investment option to move some of your retirement savings out of the volatile stock market, have you considered opening a Silver IRA?
Silver IRAs give you the opportunity to hold physical silver coins and bars in your retirement account. With the value of silver and the new uses that are continuously being discovered, investing in silver is something many financial experts are recommending. If you think you'd like to diversify your portfolio with a highly sought-after precious metal, keep reading to learn more about the best Silver IRA companies.
Silver IRA Companies Reviews
#1. Goldco
Goldco is our top pick for the best Silver IRA company. There are several things that set Goldco apart from the competition, which we'll share below.
About Goldco
In 2006, Trever Gerszt, Goldco's founder, set out to create a company that would help each individual understand the value of investing in precious metals, while providing them the support needed to grow their portfolio. Today, the company lives up to this goal, as is evidenced by the excellent ratings from past customers and review organizations, like the Business Consumer Alliance and Better Business Bureau.
Goldco has grown to be among the most-trusted names in the industry, and they would be an excellent choice when you're ready to add silver to a retirement account.
Silver IRAs
As we shared above, Goldco was founded with the goal of providing the necessary support for each customer. That is evident in the way their IRA rollover process works. Your representative will complete as much as possible and provide assistance for any paperwork that is needed. They'll also work with your Silver IRA custodian to get the funds transferred from your old retirement account to your new account.
You'll be impressed with how straightforward the process is, as well as how attentive your Goldco representative is to your needs. After the funds for the account arrive, you can choose from the silver coins and bars listed below. Your representative will be available should you have questions about what is best for your goals or need additional support.
IRA-Approved Silver
Earn Free Silver with a Qualified IRA
When you open a qualified IRA with Goldco, you'll be able to earn free silver to further boost your portfolio. The current promotion the company is running gives customers the opportunity to earn as much as 10% back in free silver. If you'd like to learn more about the details and necessary qualifications for this promotion, reach out to Goldco.
Pros & Cons of Goldco
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Augusta Precious Metals is another top choice when you're looking to set up a Silver IRA. Read more about why this company made our list in the next few sections.
About Augusta Precious Metals
Augusta Precious Metals—which has a decade of experience—has earned the highest ratings possible from the Business Consumer Alliance and Better Business Bureau (AAA and A+, respectively). According to their website, Augusta Precious Metals' make three commitments to their customers: simplicity, transparency, and service.
Silver IRA Set-Up
Augusta Precious Metals has helped several customers set up a new Silver IRA. The representative you speak with will connect you with a Silver IRA custodian who will transfer the funds from your existing account to your new account. They will work to make this process as simple as possible and will be available to offer support with any needed paperwork.
After the transfer is complete, talk with your representative to decide which silver coins and bars you want to hold in your account. A few of the options available through Augusta Precious Metals are listed below.
IRA Storage
Regulations put in place by the IRS dictate that individuals must store their metals in an IRA-approved depository. Augusta Precious Metals uses the Delaware Depository, one of the top names in the storage industry. Between the security guards, multiple layers of security, state-of-the-art vaults, and full insurance policy, you won't need to worry about your precious metals.
Pros & Cons of Augusta Precious Metals
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When you're ready to set up a Silver IRA, American Hartford Gold can also help you through the process. Find out more about this company in the next few sections.
About American Hartford Gold
American Hartford Gold was founded by Sanford Mann. When he started the company in 2015, Mann wanted to offer the best products and service to help his clients diversify their portfolio with precious metals.
Today, American Hartford Gold is a top name in the industry. They offer a 100% satisfaction guarantee and competitive pricing. These practices, along with the excellent customer service they provide, is one of the main reasons so many customers have left positive reviews for the company. American Hartford Gold has also earned high ratings from the Better Business Bureau (A+) and Business Consumer Alliance (AA).
You may have heard about American Hartford Gold from celebrities or news media personnel. Some of their supporters include Bill O'Reilly, Megyn Kelly, Lou Dobbs, Liz Wheeler, and Rudy Giuliani.
Opening a Silver IRA
One of the most popular services offered by American Hartford Gold is opening a Precious Metals IRA. The team member you work with can help you confirm that your current retirement account is eligible for a rollover. If it is, they'll put you in touch with a Silver IRA custodian who will move the funds from your current account to your new account.
Throughout the process, they'll provide assistance to keep your stress to a minimum. For example, if you have any questions about the required paperwork, they'll be happy to assist.
After the transfer process is complete, you can select the coins and bars you want to hold in your account. Below you'll find a list of silver coins and bars that American Hartford Gold customers can choose from. All of these options satisfy the IRS's minimum purity requirement of 99.9% pure.
IRA-Approved Silver Coins and Bars
Promotion for IRA Customers
American Hartford Gold is currently running a promotion where IRA customers can earn up to $5,000 in free silver. In addition to the free silver, if your account qualifies, you may receive up to three years of no IRA fees. For more details about this promotion, reach out to a member of the American Hartford Gold team.
Pros & Cons of American Hartford Gold
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#4. Birch Gold Group
Next, take a look at Birch Gold Group to see if they feel like the right fit for your Silver IRA needs.
About Birch Gold Group
In 2003, Laith Alsarraf founded Birch Gold Group. In the nearly 20 years that have followed, the company has built a solid reputation in the precious metals investment industry. They have received the highest ratings possible from the Business Consumer Alliance (AAA) and Better Business Bureau (A+). Beyond these high ratings, past customers have shared several reasons you'll want to consider this company through their online reviews.
The team at Birch Gold Group is experienced and qualified to help you make wise investment decisions to set you up for a comfortable financial future. As they outline on their website, Birch Gold Group values ethics, empathy, customer empowerment, education, efficiency, and transparency.
Opening a Silver IRA
Open a silver IRA with Birch Gold Group to take advantage of the tax benefits that IRA holders enjoy, while also diversifying your portfolio with a highly valuable precious metal. You can roll over your existing retirement account into a new Silver IRA with Birch Gold Group. As you navigate your way through the various steps in the process, a member of the Birch Gold Group team will be just a call away to address any questions or concerns you might have. They'll also facilitate working with a Silver IRA custodian to set up the transfer of funds from your existing retirement account to your new Silver IRA.
Adding Silver Bars and Coins to an IRA
One of the most exiting parts of setting up a Silver IRA is deciding which coins and bars you want to hold in your account. Below are some of the various options available when you decide to work with Birch Gold Group.
Pros & Cons of Birch Gold Group
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#5. Noble Gold
Noble Gold is another excellent option when you're looking for the best Silver IRA company. We'll take a look at some of the benefits of working with Noble Gold below.
About Noble Gold
Noble Gold is the relatively newcomer on our list. However, don't let that make you question their reliability. As past customers have shared in their reviews, Noble Gold does a lot to ensure that each customer receives what they need and ends each interaction satisfied with the quality of service they received.
Review organizations, like the Better Business Bureau and Business Consumer Alliance have awarded Noble Gold with some of their highest ratings. The company has an A+ rating from the BBB and an AA rating from the BCA.
IRA-Approved Silver Coins and Bars
Opening a Silver IRA with Noble Gold is quite simple. The team works hard to offer the right amount of support to each customer to help them open their account, work with a Silver IRA custodian to fund it, and select the coins and bars they'd like to hold in their new Silver IRA.
Some of the coins and bars offered by Noble Gold that meet the minimum purity levels established by the IRS are listed below. If you are unsure which pieces you want to hold in your account, don't worry. Your Noble Gold representative will be able to help you make the best decisions for your specific goals and aspirations.
Pros & Cons of Noble Gold
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Choosing the Best Silver IRA Company
As we mentioned earlier, there are several precious metals investment companies that offer IRA services. Choosing between so many companies can be a real challenge. You want to pick the one that offers the specific coins and bars you want and will deliver top-quality customer service. Use the factors below to help guide your search and decide which of our top 5 Silver IRA companies is the best match for your needs.
Customer Service
Rolling over an existing retirement account to a Silver IRA involves a lot of different steps. The best companies will be right there to help you through all of these steps and assist you with completing the required paperwork. They'll also support you in making sure that you don't miss any deadlines or end up with penalties from the IRS during the transfer process.
Experience
When you're ready to open a Silver IRA, you'll want to look for an experienced company that has been in business for several years. Doing so will help ensure a smooth process and will reduce the chances of something unforeseen happening to the company when you're in the middle of the rollover process.
Silver Selection
Another important factor to keep in mind when looking for the best Gold IRA company is the available silver coins and bars that you'll be able to choose from. If you've looked around at different precious metals providers already, you probably already know that every does not offer the exact same silver coins and bars. Some offer a wide selection to choose from, while others have a much more limited selection. If you want to hold any particular silver coin or bar in your IRA, confirm that it will be an option with the different companies you're considering.
Fees
Fees should also be considered when you're searching for the best Silver IRA company. Most companies will charge fees for setting up your account, storing your precious metals, and managing your account, but these fees may vary. Some companies even offer specials where they will waive your account fees for the first year (or more) when you set up a qualifying IRA with them.
Our Top Pick: Goldco
Ready to set up a Silver IRA? After everything you've read about the different companies above, we be you'll agree that Goldco is the best of the best. While our other four companies are all great options, they don't match the personalized attention you'll receive from Goldco. Plus, Goldco's free silver promotion for individuals who set up a Silver IRA is pretty incredible.
What do you think? Will you be contacting Goldco today to start the IRA set-up process? It is less involved than you're thinking, especially when an expert member of the Goldco team is at your side to help you through the process.
Frequently Asked Questions
Can you hold silver in an IRA?
Yes, silver coins and bars can be held in an IRA. This type of IRA is called a Silver IRA or a Precious Metals IRA. In order to be held in an IRA, silver coins and bars must have a minimum purity level of 99.9%, according to the rules established by the IRS.
What percentage of my portfolio should contain silver coins and bar?
There is no set answer for this question. Determining the ideal percentage of your portfolio that should hold silver will depend on several factors, including how close you are to retirement, the level of risk you're comfortable with, and more. Silver is seen as a riskier investment than some stocks and bonds, but it also has the potential to grow and offer profits. If you're closer to retirement, you probably want to hold a smaller percentage of your portfolio than someone who is still several years away from being able to retire.
Can I keep the silver coins from my IRA at home?
No, in just about all cases, individuals are not allowed to store the precious metals for their IRAs at home. This is due to regulations put in place by the IRS that prohibit you from acting as the custodian for your own IRA account. Rather than storing your precious metals at home, they will need to be stored in an IRS-approved depository, such as the Delaware Depository or Brink's Global Services.
One benefit of working with an IRS-approved depository is that you will not need to worry about your precious metals getting lost, stolen, or damage. All IRS-approved facilities offer superb security and all investments are protected by a full-coverage insurance policy.
How much money can I invest in my Silver IRA each year?
The amount of money you will be allowed to invest in a Silver IRA will depend on your age. If you are under 50 years old, the current contribution limit is $6,000 per year. Those who are over 50 and closer to retirement are permitted to contribute $7,000 each year. These limits, which are established by the IRS, represent the total contribution limits for any IRAs. If you have multiple IRAs, you will need to split the total contribution amount between both accounts (for example, $3,000 in your Silver IRA and $3,000 in your traditional IRA).
