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Looking to open a silver IRA account?
Wondering how to buy silver with IRA money?
My guide below will tell you everything you need to know.
Table of Contents
How to Buy Silver With IRA Money (Quick Guide)
Here’s a quick step-by-step guide on buying silver with IRA money.
Step #1- Choose a custodian. Find an IRS-approved custodian that allows you to self-direct your investments. This could be a bank, trust company, or other entity.
Further below I’ll show you how to work with a company who can pick a trustworthy custodian for you so you rest easy knowing your precious metals are safe, secure and insured.
Step #2- select a dealer- Choose a precious metals dealer that you can direct your custodian to send money to.
Step #3- fund your account- You can open a silver IRA account by depositing money or transferring it from an existing IRA or 401(k) account. Again, this is best done with the help of a precious metals dealer company (I recommend one right below).
Step #4- Decide on products- Work with the dealer to select the products you want to buy. As you shop around you’ll notice there are plenty of silver coins and bars to buy, but only some of them are IRA-approved. IRA-eligible silver coins and bars are your only choice when buying silver for an IRA account.
Step #5- Choose a depository– The custodian you picked with the help of silver IRA company will send the silver to a depository where it’ll be tested for authenticity before being permanently stored in a secured vault.
You’ll be able to visit your silver bullion whenever you wish.
Recommended Place to Opening a Silver IRA Account
Here’s the number #1 place where you can open a silver IRA account, risk free.
The company is called Augusta Precious Metals and they exclusively serve US customers.
Augusta Precious Metals was founded in 2012 by gold and silver enthusiasts and professional economists. The goal was to help US folks safely diversify their retirement savings with precious metals.
They’ve been in business for over a decade, have serviced thousands of customer and have never been sued or even received a genuine, serious complaint on popular consumer watchdog websites.
Augusta’s reputation is stellar, and so is their service. You can read my Augusta Precious Metals review here.
Here are the simple steps you need to take to open a new silver IRA account with Augusta Precious Metals.
Step #1– open your new silver IRA account with Augusta’s help. The process is fast, easy and straightforward.
Step #2– fund your new account with your personal money or with dollars from your existing retirement account. Augusta Precious Metals have a minimum investment requirement of $50,000 with shipping and transit insurance free to all customers.
Augusta Precious Metals also offer ZERO setup, custodian & storage fees for up to 10 years. Applicable to all customers.
Step #3– buy silver coins and bars to include as part of your silver IRA account. Augusta’s representatives will show you the coins and bars they currently stock, but it’ll be up to you to choose which silver coins and bars you want.
Step #4– get a custodian. Augusta Precious Metals work with Equity Trust, a custodial company with 30+ years in business and managing over $25 billion in assets. Equity Trust are also notable for servicing customer from all 50 US states.
Step #4– store your silver IRA coins and bars in a safe and secured depository. Augusta Precious Metals work with the Delaware depository which means your silver bullions will be stored there. Your bullion will be safe, fully insured and held off balance sheet.
How to Buy Silver With IRA Money (Conclusion)?
The best way to buy authentic silver with IRA money is to invest with a reputable gold IRA company from the US.
Augusta Precious Metals is such a company and they can help you with buying silver and investing in precious metals.
Download Augusta’s free gold IRA kit here!
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.