Disclosure: Some of the links you’ll encounter are affiliate links. If you click and buy something, I’ll get a commission. If you’re reading a review of some precious metals company, please understand that some of the links are affiliate links that help me pay my bills and write about what I love with no extra cost to you. Thank you!
What is IRA-approved silver?
And where can you buy genuine IRA-eligible silver bullion?
Read on as my guide will tell you everything you need to know.
- What is IRA-Approved Silver Bullion (Meaning and Definition)?
- What are Some Examples of IRA-Approved Silver Coins and Bars?
- Where to Buy IRA-Eligible Silver? How to Include IRA-Approved Silver as Part of Your IRA Account?
Table of Contents
What is IRA-Approved Silver Bullion (Meaning and Definition)?
IRA-eligible silver is IRS-approved silver bullion you can include as part of your silver IRA account.
Silver coins and bars that are IRA-approved must be at least 99.9% pure.
These coins and bars must also originate from a national government mint or other accredited and government sponsored organizations (COMEX, NYMEX, NYSE/Liffe/CBOT, TOCOM, LME, LBMA, LPPM, and ISO-9000 or a sovereign mint like for example Royal Canadian Mint).
Non-proof coins must be in uncirculated condition and free of any damage to be IRA-eligible.
Small bullion bars must be manufactured to exact weight specifications and all individual coins, bars and ingots must have the producer’s mint mark.
Note: silver is not the only IRA account-eligible precious metal. Other precious metals you can include as part of your IRA account are IRA-eligible gold, IRA-eligible platinum and IRA-eligible palladium.
| Precious Metals | Purity Standard |
|---|---|
| Gold | .995 purity or higher |
| Silver | .999 purity or higher |
| Platinum | .9995 purity or higher |
| Palladium | .9995 purity or higher |
What are Some Examples of IRA-Approved Silver Coins and Bars?
Here are some examples of IRA-approved silver coins and bars:
- 2020 Royal Canadian Mint 1.25oz Silver Soaring Eagle;
- 2019 Royal Canadian Mint 1.25oz Silver Eagle with Nest;
- American Silver Eagle 1oz BU (Random Year);
- Canadian Silver Maple Leaf 1oz BU (Random Year);
- Silver Saint Helena 250g East India Company Coin Bar (note: this is a silver bar while the examples above are silver coins).
You can get these coins/bars and more from legitimate precious metal dealers like Augusta Precious Metals and Birch Gold Group.
Which types of silver aren’t IRA-eligible?
Not everything made of silver can be included as part of IRA account.
For example, jewelry made of silver isn’t eligible even if it’s 100% sterling silver.
Another examples are many coins made of silver.
Silver coins which aren’t eligible for IRA account inclusion are:
- silver that has been certified by a third-party grading service;
- bullion coins that have been circulated or damaged;
- rare silver coins that should go to a museum rather than form part of your IRA account;
- older U.S. coins that are only 90% silver (dimes and quarters);
- etc.
Where to Buy IRA-Eligible Silver? How to Include IRA-Approved Silver as Part of Your IRA Account?
The best place to buy IRA-approved silver bullion is with a registered precious metal dealer.
Because there’s plenty of precious metal scams online and you can’t be too sure where your money is going.
With a registered precious metal dealer you’ll be sure because these companies have to do everything by the book.
Especially when every customer they have has access to the internet and can either write a glowing review or a scathing one.
And in a competitive gold IRA and silver IRA industry every genuine negative review is a quick steeping stone to bankruptcy.
The point is that these companies will do everything they can to have you as a happy and satisfied customer.
Since you’re here I recommend you check out either of the two (or both) US gold investment companies I recommend.
These are Augusta Precious Metals and Birch Gold Group.
Both of these companies have 1000’s of positive customer reviews and both of these companies have been in business for 10+ years.
What is IRA-Approved Silver? What Does it Mean and Which Silver Bars and Coins are Eligible? (Conclusion)?
IRA-eligible silver is IRS-approved silver bullion you can include as part of your silver IRA account.
These coins and bars must be at least 99.9% pure and they must originate from a national government mint or other accredited, and government sponsored organizations.
I hope you enjoyed my guide and remember to talk with a financial advisor before you invest your hard-earned cash into a silver IRA or any other similar investment.
Your financial advisor will take your current economic situation into account and develop the most fitting investment plan for you.
References:
- What Is IRA-Eligible Silver?- https://www.usmoneyreserve.com/news/executive-insights/what-is-ira-eligible-silver/
- What Silver & Gold Bullion Products Are IRA Approved?- https://www.jmbullion.com/investing-guide/taxes-reporting-iras/ira-approved-gold-silver-products/
- https://www.stratatrust.com/self-directed-iras/investment-options/gold-precious-metals/ira-allowable-precious-metals/
- Eligible Precious Metals for IRA Investing- https://www.sbcgold.com/precious-metals-ira/eligible-precious-metals-for-ira/
- Which Bullion Products are IRA Approved?- https://www.providentmetals.com/knowledge-center/precious-metals-resources/ira-approved-bullion.html
- What Is a Silver IRA?- https://smartasset.com/retirement/silver-ira
- What is IRA Approved Silver?- https://www.bptrends.com/what-is-ira-approved-silver/
- IRA Approved Silver – What You Need to Know- https://ownx.com/blog/retirement-planning/ira-approved-silver-what-you-need-to-know/
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.
