Today we shall take a look at the best silver ira companies. If you are getting started with investing in silver through a self-directed IRA, then the first step to successful investing lies in finding the best companies to partner with on your investment journey. Herein, we shall take a look at some of the top firms you can turn to for silver IRA solutions. Read on to discover more.
Choosing the best silver IRA companies is not a walk in the park. There are many different companies out there, each offering its unique services and features to those who are out to safely and efficiently invest in silver.
You may have come across people who have told you to research a wide range of precious metal companies before investing, but while they are right, you cannot really go through each company’s offerings before making a decision about which company you will work for with. You may actually end up with decision paralysis, where you are spoilt for choice and mostly end up not making any choice at all.
In this article, however, I will take the burden off your shoulders by presenting you with the top three companies you can work with so that you have an easier time picking the company that will hold your hand as you begin the new exciting journey of investing in silver.
Best Silver IRA Companies
1. Goldco (Best Overall)
- Has an A+ rating on BBB
- Great customer service
- Competitive pricing
- Impressive precious metal selection
- Sufficient educational resources
Goldco has been around since 2006 when it was established to serve clients who were in need of precious metals. It has its headquarters in Woodlands, California, from which its main operations are overseen by a team of competent staff members.
This company has since then evolved to become an IRA solutions provider, which any investor can turn to if they are qualified to open a silver IRA and begin investing in silver.
Goldco has already helped many investors achieve this objective, and has managed to remain professional throughout the years, as can be proven by its impressive ratings on consumer trust sites such as BBB and BCA.
- Quality customer service
- Offers both Gold and Silver IRA solutions
- Customers can get up to $10,000 in free silver upon opening a silver IRA with them ( call customer support staff to confirm this offer is still on).
- Excellent ratings on consumer trust sites.
- A wealth of experience in this industry
- It only offers gold and silver IRAs
- You must meet the $50,000 minimum investment requirement.
2. Augusta Precious Metals (Runners Up)
- A+ rating on BBB
- Zero complaints on BBB
- Transparent fee structure
- Impressive precious metal collection
This company was established about a decade ago and has been an industry leader in terms of the provision of precious metal investment solutions. The unique thing about this company is that it has not received any complaints about the nature of its services since it was started.
Augusta Precious Metals also offers very competitively-priced bullion and is very transparent with its customers. Clients are actually invited to learn everything there is to know about the silver bullion before purchasing any of the products.
This company specializes in assisting customers to open new self-directed accounts, through an efficient and streamlined process.
- It is a trusted gold IRA firm
- Zero complaints on the Better Business Bureau and BCA
- Offer a streamlined account-opening process
- Transparency is prioritized
- Competitive product pricing
- Has been endorsed by celebrities e.g. Joe Montana
- Offers sufficient educational resources
- A $50,000 minimum deposit requirement
3. American Hartford Gold
American Hartford Gold is a family-owned firm that offers precious metals such as gold, silver, platinum, and palladium. Such precious metals are necessary for diversification purposes, and for the protection of retirement savings from inflation.
This company does not charge clients account opening fees, which makes it possible for customers who would otherwise shy away from getting started, to begin their investment journey. In addition to that, they do not charge customers for the shipping of their precious metal assets. There are also no fees and charges for tracking and insuring the package in transit.
If you decide to store your silver with this company, instead of having it shipped to you, you will pay a depository fee, which varies depending on the amount that you want to invest.
- They offer a buy-back guarantee
- Great customer experience
- Have IRA experts who are always on the wait to assist customers
- No account opening and shipping fees charged
- No prices on their online catalog
Top things to look for in the best silver IRA companies
When deciding about the company you will turn to as a silver IRA holder, here are the top qualities to consider:
1. Information and education
A good company prioritizes customer education. You should, as such, observe whether the company you’re eying offers educational materials either in the form of Silver or precious metal IRA kits, personal consultation sessions, or webinars.
Companies with a good reputation may, in most cases, serve you in a manner that is similar to how they have served their previous customers, hence your chances of walking away fulfilled are quite high. You should always cross off from your list any company that has negative reviews, many complaints, or for which you are unable to verify the origin.
You should only do business with a company that is transparent about its fees and charges, and that does not overcharge you in any manner. This is why it is important for you to compare various offerings to ensure that you get the best deal at the end of the day.
There are many silver IRA companies offering their products and services in the present-day precious metal investment sector. Amongst them, however, are some unscrupulous firms that use underhand marketing techniques to make you purchase the products and services they have to offer.
Some may even go to the lengths of creating fake scenarios of economic disasters just to make you invest in silver out of fear. Be wary of such companies, and do not invest your hard-earned money before doing your due diligence.
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Frequently Asked Questions on Silver IRA Companies?
1. What is a silver IRA?
A silver IRA is a unique type of retirement account that allows you to invest in approved silver products. The rules of investing are similar to those of other types of IRAs, with the main exception being that a silver IRA allows you to purchase silver as well other eligible precious metals through your account. With the other types of IRAs, however, investors are mainly allowed to invest in paper assets.
2. Is silver a good investment for retirement?
Yes. Silver, like other IRA-approved precious metals, is perceived as a safety net in times of uncertainty. People turn to silver to protect their wealth whenever there are economic downturns and political tension. Note that investing in silver is not without some risks, hence anyone who is trying to get started with investing in silver should seek to educate themselves on what they will be up against.
3. Can I keep the metals I bought at home?
When your assets are housed in an IRA, you are not able to store them at home. Your IRA’s actual assets must be held by a competent custodian and kept in a secure, IRS-approved depository. Many depository institutions provide segregated or non-segregated storage. Your personal metals are identified and stored under your name in segregated storage.
4. How simple is it for me to liquidate my Silver?
You can withdraw your precious metals from the depository storage facility as a whole or as partial distribution at any time. Taking physical possession of your precious metals, like with any early IRA payout, may result in taxes and penalties until rolled over to another qualified custodian.
You can also choose to sell your metals to an authorized dealer, with the proceeds going back into your IRA.
That will be all for today’s post on what the best silver IRA companies are. I hope that you enjoyed it and that you found it helpful. Let me know if you have any questions about it, and whether you would need more help with choosing the right silver IRA company for your needs – drop the questions in the comments section and I will get back to you ASAP.
I wish you well,
Eric, Investor and Team Member at Gold Retired!