A silver IRA is an independent retirement account that contains silver metal. You can add silver to your precious metals IRA as long as you meet all of the strict IRS rules and regulations. There are silver coins and silver bullion that look great, but they don’t meet the strict purity levels or the weight requirements to be added to an IRA. When you work with an IRA company, they will guide you through the entire process of setting up an account and they will even help you purchase silver coins or bullion that meets all of the IRS requirements.
Silver IRA Benefits:
A silver IRA offers tax benefits to investors that decide to put silver into their retirement accounts. Investors can save money for their retirement by investing in precious metals on a tax-free or tax-deferred basis. Their are potential tax benefits when investing in a precious metals IRA, but their may be tax penalties if you don’t closely follow the IRS rules and regulations when setting up the IRA and when you decide to add the precious metals.
IRA Approved Silver Coins:
IRA Approved Silver Bullion:
These are the IRA approved silver coins and bullion that can be added to a silver IRA. You can add any of these coins to your silver IRA or find others that meet the same purity levels and weight requirements. All of the silver coins need to have a 99.9% purity level and must weigh exactly one ounce to be added to a silver IRA. There are silver coins that are a part of a limited edition and other gimmicky coins that are sold at huge premiums. You should make sure to avoid these types of silver coins because they may not meet the strict IRS requirements.