We Can Help You Strengthen Your Ira With Physical Silver
Like gold, silver has been considered money for thousands of years and retained its purchasing power along the way. It’s also maintained a high demand as an essential element of virtually all global electronics and industrial machinery. It has provided investors with protection against the unpredictable shocks in the financial system. And, in case you didn’t already know, you can even own physical silver within an IRA to help diversify your retirement portfolio. Capital Gold Group helps countless clients to own investment-grade silver bars and coins that offer greater potential for growth than many traditional assets. In addition to this, we regularly assist investors in opening Silver-Backed IRAs that meet the IRS requirements. If you want to learn more or would like us to help you set up a Silver IRA, please feel free to reach out to our IRA specialists.
What Is A Silver IRA Account?
A Silver IRA is an Individual Retirement Account (IRA) that allows for more diverse investments. It is a Self-Directed IRA that functions the same as a regular IRA, only it offers flexibility in that you can hold silver bullion coins or bars in the account. You can add more than just silver to a Silver IRA. All other approved precious metals, such as gold, platinum, and palladium are acceptable as well.
When you consider that precious metals can help to create a balanced portfolio and shield your retirement savings from uncertain economic times, a Silver IRA is an ideal solution for providing the stability and security you deserve. Like with all IRAs, a Silver IRA comes with tax advantages but there are some important IRS rules and regulations that you need to familiarize yourself with before investing. For example, the bullion bars and coins must meet the minimum fineness requirements to be eligible for placement in a Self-Directed Silver IRA.
You’ll be pleased to know that Capital Gold Group offers the largest variety of precious metals that are indeed acceptable for inclusion into a Silver IRA. From silver American Eagles and Canadian Maple Leafs to Australian Kookaburras and Valcambi CombiBars, we stock a fabulous selection of IRA eligible products.
Silver-Backed IRA Set-Up Fees
The average cost of setting up a Silver-Backed IRA with Capital Gold Group is around $250. A cost breakdown can be found below.
- $25 one time set-up fee
- $100 insured silver metals storage fee for the first year (accounts up to $250,000)
- $60 administrative fee
- $40 silver purchase processing fee
- $25 wire fee for domestic investment purchase
With a Silver IRA from Capital Gold Group, you’ll have transparency and more control over your account. Unlike traditional IRAs and 401(k)s, there are no hidden fees involved. Set-up fees are payable to your new custodian, in this case, Strata Trust and may be deducted from the transferred funds or paid by check, debit card or credit card. An annual fee must be paid upfront upon opening the account.
You Have The Option To Rollover An Existing Retirement Account
If you already have an IRA, you may be able to do a rollover to a Silver IRA. It’s best to discuss a transfer with your CPA or tax advisor before agreeing to this process. We should make you aware that some types of retirement accounts cannot be rolled over but most can. Our IRA rollover specialists are available to help you determine if this is possible with the account you already have.
Capital Gold Group makes the rollover process simple and hassle-free. All it takes is just three easy steps:
- We will establish a new precious metals IRA for you.
- Next, we will authorize a tax-free rollover and fund your new Silver IRA with the assets from your old IRA.
- Finally, we transfer your funds and provide you with the resources you need to help you make sound precious metals purchasing decisions.
Advice From Our Ceo And Founder On Selecting An Honest Silver Company
It’s important for you to be armed with the right knowledge before choosing a silver company to do business with. Sadly, there are some unscrupulous companies around and they can be quite hard to spot. Because of this, Jonathan Rose has shared some words of wisdom on how you can tell apart a good silver company and a bad one.
Always make sure the company is A+ rated with the Better Business Bureau. When checking their rating, look at the number of complaints they may have received and how those complaints were handled. If the company has a consistent record of complaints from existing clients, it’s usually a warning sign that they are not as great as they make out to be, even if they have an A+ rating. You should also check whether the business is an authorized dealer of the United States Mint and if it’s licensed, bonded and registered with the attorney general’s office. Also, make sure the firm has a solid reputation and at least 10 years’ industry experience. Finally, test their customer service by asking questions and find out how they plan to keep you informed in the future. If the representatives you speak with try to push sales, it’s likely that they care only about your money and not your best interests.
SILVER IRA FAQs
Why Should I Choose A Silver IRA?
By being a Self-Directed IRA, a Silver IRA comes with tax advantages, such as enabling you potentially to save a large amount of money on your tax bill. You’ll also have some flexibility in managing taxes on your gains. However, the specific tax benefits will depend on whether you choose a traditional or ROTH IRA. A Silver IRA offers investment options not available under most IRA plans.
It’s easy to set up a Silver IRA with Capital Gold Group, and can be done in three simple steps. We offer the quickest IRA setup and at the lowest cost. As the primary market maker and U.S. Mint distributor, we also offer the largest range of IRA-eligible precious metals.
Is Physical Silver Really A Good Investment Option?
Yes, there are many reasons to invest in physical silver. Physical silver is a suitable store of value and a long-term hedge against inflation, just like gold. Silver has intrinsic value due to its finite supply and is one of few investments you can actually hold in your hand. Because of silver’s strength and conductibility, it is an essential material in electronic components, solar panels, and industrial equipment. Over half of silver produced is used for industrial purposes. Demand outstrips supply and silver is expected to continue to run at a supply-demand deficit in a foreseeable future. Silver is much more affordable for the average investor and bullion coins and bars can be sold virtually anywhere in the world. Add up all these reasons and it makes sense to place silver in an IRA.
Are Silver IRA Rules The Same As Those For A Traditional IRA ?
Yes, with the key difference being that a Silver IRA allows you to add silver and other precious metals (gold, platinum, and palladium) to your IRA. To be eligible for placement in a Silver-Backed IRA, silver coins and bars must have a minimum fineness of .999. It’s .995 for gold, and .9995 for platinum and palladium. This means that not all world bullion qualifies. Capital Gold Group does, however, deal in all IRA-eligible silver products including the American Eagle Coin, Canadian Maple Leaf, Australian Kookaburra and the Mexican Libertad Coin to name just a few.
Am I Eligible For A Silver-Backed IRA?
If you’re under the age of 70½ and you have earned income, you can open a Silver-Backed IRA with Capital Gold Group.
Do I Need A Custodian? If So, Who Will Be The Custodian Of My Capital Gold Group IRA?
Yes, you do need a custodian. Internal Revenue Code Section 408-2 states that IRAs including Silver-Backed IRAs must be administered by a custodian. Your custodian is responsible for tracking the assets in your IRA and handling distributions. Capital Gold Group works Strata Trust and Kingdom Trust as the custodial administrator for your Silver IRA. Self-Directed IRA has over four decades of experience in the industry and Kingdom Trust is a renowned industry leader with more than $12 billion custodial administrations.
Can All Other Types Of Retirement Accounts Be Rolled Over?
A number of other retirement accounts quality for rollovers, such as 401(k)s, 401(a), 457, Thrift Savings Plan (TSP) and annuities. There are some exceptions, so be sure to contact Capital Gold Group to see whether your existing IRA can be rolled over into a Silver IRA.
If your existing IRA qualifies, it usually takes around two weeks for the rollover to be complete. Once you’ve spoken with one of our Silver IRA specialists, they should be able to give you a better idea of how long it will all take. Our experts will also help you gather and complete all of the necessary documents for your rollover.
IS IT POSSIBLE TO HAVE MULTIPLE SILVER IRAs?
It certainly is. You can even set up an IRA for a nonworking spouse if that’s something you also wish to do, which will be limited by an annual maximum allowable income contribution set by the IRS.
Are There Any Penalties Associated With A Silver IRA?
There are no penalties provided you do not take distributions of your Silver IRA before reaching the age of 59½. You’ll also be pleased to learn that you will not incur any tax penalties when transferring (rolling over) funds from an existing IRA to a Silver-Backed IRA.
How Can I Be Sure That My Precious Metals Are Safe In My Silver IRA?
With a Capital Gold Group IRA, your precious metals investments are safely stored in an IRS-approved vault at the Delaware Depository. All metals purchased for a Silver IRA must be maintained by a depository and administered by a custodian until you reach 59½ in order to avoid IRS penalties.
If you would rather store your precious metal at home, it might be worth looking into our Home Storage IRA program. You’ll become the trustee for the metals in your IRA, meaning there will be no need for third party storage. The setup process is slightly different for a Home Storage IRA and Capital Gold Group will help you with this. Please don’t hesitate to call us for more information.
What Is The Minimum Dollar Amount For Establishing A Silver-Backed IRA?
The minimum dollar amount to start a Silver-Backed IRA with Capital Gold Group is $10,000. Also, there is no minimum dollar amount when you decide to sell or liquidate your Silver IRA.
Can I Purchase Bullion Coins And Bars From Capital Gold Group Without An IRA?
Yes, of course. Not only do we offer Precious Metals IRAs but also an extensive selection of bullion coins and bars for non-IRA investors. Capital Gold Group specializes in carrying all sorts of products, from gold and silver bars to ancient and rare coins. With our network of affiliates, we can find virtually any precious metals product or rare coin available on the market. We even welcome special order requests, so feel free to call us about any bar or coin that is or is not featured on our website.
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