Silver IRAs

How It Works

The structure is the same as a gold IRA: custodian, dealer, and depository. See how a gold IRA works. Silver generally must be at least .999 fine. See IRS rules.

Things Unique To Silver

• Bulk. A dollar of silver takes more space than a dollar of gold, so storage can cost more relative to value. Ask how storage is priced.
• Volatility. Silver prices have tended to swing more than gold's.
• Industrial demand. Silver is used in industry, so its price reflects more than investment demand.

Who Offers It

Augusta, per reviews, offers gold and silver. See our review and gold vs silver.

Common Silver Products In IRAs

• American Silver Eagle coins.
• Canadian Silver Maple Leaf coins.
• Silver bars from accredited refiners that meet the fineness requirement.

Confirm eligibility with your custodian before buying, and see approved coins and bars.

Why Silver Is Bulkier

Silver sells for much less per ounce than gold, so holding the same dollar value takes far more weight and space. That can raise storage and shipping costs relative to the value held, depending on how the depository charges. Ask whether storage is priced by value, by weight, or as a flat fee.

Spreads On Silver

Percentage premiums on silver products are often larger than on gold, because fabrication and handling costs weigh more against a lower price. Compare the spread on the exact product, not just the headline price.

Risks Specific To Silver

• Price swings that are typically wider than gold's.
• Industrial demand that links the price to economic cycles.
• No income, like gold.

Who Might Prefer Silver

People who want a lower price per unit or a small allocation to a second metal. A mix of gold and silver is common. See gold vs silver IRA.

How To Buy Silver Inside An IRA, Step By Step

1. Open or confirm a self-directed IRA that allows precious metals.
2. Fund it by direct transfer or rollover.
3. Ask a dealer for quotes on specific silver coins or bars, with the spread shown.
4. Have the custodian confirm the products are eligible.
5. Authorize the purchase and confirm the depository where the silver will be held.

Storage Options Explained

Depositories typically offer commingled storage, where your silver is held with others', and segregated storage, where it is kept separately. Because silver is bulky, ask how the depository prices each option, since a storage fee that looks small on gold can look large on silver.