The Silver American Eagle coin is an American classic. A silver IRA is a special type of retirement account that allows you to invest in eligible silver coins and ingots. The rules are the same as those of any other IRA, except that you can add silver and other precious metals to your account, while normal IRAs focus on stocks and other paper assets. Silver IRAs can help diversify your portfolio, but there are some pros and cons you should understand to protect your retirement funds.
While previously IRAs were limited to storing American Eagle gold and silver coins, today IRAs can invest in gold, silver, palladium and platinum ingots and coins allowed by the IRS. A transfer occurs when funds from an IRA are transferred, at your request, directly from one IRA to another, without you taking control or custody of the funds. Regal is the leading silver IRA company in general because it acts as a one-stop shop for everything related to creating and monitoring a precious metals IRA. When it comes to gold coins or ingots, there are several gold product options to include in your IRA account.
Gold IRAs are well known, but silver IRAs could be an equally convenient place to go, with potential additional benefits. Contact Monex to learn more about silver IRA investments and to learn how to open a silver IRA account. First, any silver deposited in an IRA must meet the purity standards required by the IRS, which state that all silver ingots and coins found in an IRA must meet a purity grade of 0.999 or higher. With the American Gold Eagle as the only exception, gold bars for inclusion in an IRA account must have a minimum fineness of.
Products that fall outside these ranges, except American Gold Eagles, are not approved to receive IRA contributions. Whether you need an IRA reinvestment, an IRA transfer, or want to open your first IRA account, Monex is ready to help. However, there is no maximum dollar amount for transfers or reversals from an existing IRA to a precious metals IRA account. If you already have one or more IRAs or mobile funds in your employer's retirement plan, you can transfer or transfer some or all of those assets to a precious metals IRA.