Investing often leaves investors with more questions about the future than answers. Some might look at the stock market's current volatility and want a way out, while others might just be looking for a way to diversify their portfolios to create a safer future. In either case, choosing to invest in precious metals like silver and gold can allow you to reap the benefits of an IRA while still getting the security of investing in metals.
If you're interested in silver investing, you may want to look into a silver IRA. This type of IRA is entirely self-directed, allowing investors a chance to make their own choices about their futures.
While this kind of IRA offers a great deal of freedom, that kind of freedom can be a bit scary to those without a substantial investment background. Fortunately, there are great silver IRA companies that specialize in helping investors of all types figure out how to maximize their gains while still following all of the various tax rules involved in maintaining a silver IRA.
The problem here, of course, is that there are too many silver companies out there to figure out which ones are the best and which are not worth your time. That's why we've taken the time to review them for you and choose the five best so that you can make an informed decision.
Silver IRA Company Reviews
Don't be fooled by the name - Goldco is our top recommendation for companies that service silver IRAs. We love Goldco because it tends to top the list in every category, from client education and service to great products and pricing. It doesn't matter if you're new to the game or a seasoned investor; Goldco is an excellent company to work with.
GoldCo's fee structure is up-front and straightforward. The company charges clients eighty dollars yearly in basic annual fees, with storage and maintenance fees charged separately. Storage fees are one-hundred seventy-five dollars for an account under one hundred thousand dollars in value, while those accounts valued over that amount are charged two-hundred twenty-five dollars per year.
Not only are these rates easy to understand, but they're incredibly competitive. Having a flat rate means you don't get punished for being a more prominent investor, which should look great to anyone who chooses to put money into precious metals.
If you choose to work with GoldCo, you should know that you'll need to invest a minimum of twenty-five thousand dollars with the company. The good news is that these funds can come from rolling over your existing retirement account and that all new customer clients get their first year's worth of fees waived. New clients even get some silver coins just for signing up!
GoldCo's primary specialty is IRAs, but it offers other services. The company has a great precious metals market, for example, that allows you to look at how the metals market is doing at any given time and offers information on where it might be going based on various factors.
Of course, most people who work with GoldCo are interested in their IRA products. The company is IRS compliant and takes its duties seriously. They have streamlined the process of paperwork and have great relationships with storage companies and custodians. Their relationships are so good that they can handle all third-party interactions independently.
Unfortunately, GoldCo doesn't have any of its own storage locations. However, they have some excellent partners in the world of IRS-approved storage locations. Likewise, the company does not function as an IRA custodian but works with some of the best IRA custodians in the industry.
What do other investors think of GoldCo? Reviews are incredibly positive, with a total lack of the kind of warning signs that tend to plague the lesser players in the market. There are a few complaints here and there, but it's important to note that they've all been resolved quickly and tend to be more on the side of customer error than anything else.
If you invest in metals with GoldCo, you should know that the company doesn't list metals prices on their website because of the daily market price changes. The company does, however, make it easy to contact them to get up-to-date prices that are not only fair but also informed by real-world economic factors. If you have any questions about why the prices are how they are, a customer service representative will explain the pricing process.
Perhaps the best thing about the company is how they treat customers. There's no attempt to up-sell here but rather an attempt to meet the consumer's needs. GoldCo seems dedicated to meeting consumers where they are to create the best investment experience possible.
With over fifty years of experience in the field, Augusta Precious Metals is one of the best-known quantities in the world of precious metals investing. Family-owned and still growing, APM has managed to be on the bleeding edge of precious metals IRAs since they were first approved.
Not only can Augusta do an excellent job of helping consumers set up and maintain their silver IRAs, but it also specializes in assisting investors in making precious metals purchases for investing outside their IRAs. While these items can be taxed and won't be able to be used in an IRA, they can still be valuable purchases.
If you decide to open an account with this company, you will work with a customer service representative who will be assigned to your account. Not only will this person be in charge of helping you through the opening process, but they will also help you any time you have any issues with your account.
While that might not seem like a big deal to some, it's important to remember that you will almost certainly hold on to your IRA for a long time. As such, having access to someone intimately familiar with your account is quite beneficial.
Once your account is opened, you can choose a custodian for your account. Augusta has relationships with several custodians, but you can always pick your own. Every custodian has its pros and cons, so you'll need to do your research here.
Speaking of research, having access to a representative will help you with yours. They will not only help you fill out paperwork, but they will even be able to talk to banks and the IRS on your behalf. As you continue to modify your account, this representative will help to make suggestions that will help you to meet your investment goals.
Augusta Precious Metals also offers a seven-day price guarantee for any premium metals you may order. This means that if the price of your order drops within a week, you'll get to pay the lower purchase price instead.
Pricing is another strong suit for the company. While it does lock in typical prices for bullion purchases, it also offers significant discounts when you buy in bulk.
The company even extends its generosity to new customers when they open new silver IRAs. When you open your account, you will get up to two thousand dollars in bonus silver added to your account balance.
While storage doesn't happen locally for Augusta, it does have partners in seven different regions of North America. Augusta will allow you to have your items shipped to these facilities without fuss.
Finally, there's pricing. Setting up an account only costs fifty dollars, and maintaining your account is only around one hundred eighty dollars, depending on fees charged by your custodian.
Since 2003, Birch Gold Group has managed silver IRAs for thousands of clients across the United States. With a team of experts with decades of experience, the company is well-positioned to provide information to new investors.
Birch Gold Group specializes in precious metals IRAs like the other companies on this list. Unlike some others, though, it also offers palladium and platinum to its clients.
Birch Gold Group stands out because of its unique IRA Department. Staffed by a group of experts, including former IRS agents, financial advisors, and accountants, the division intends to give excellent investment advice and ensure that all contributions to client IRAs meet the strict standards set up by the IRS.
Every customer who opens up an IRA with Birch will work with this department. You'll get a chance to learn more about how the IRAs work, giving you more power in creating your own IRA. Birch is so proud of this information that it's actually available to even non-customers on the company's website.
Signing up for your IRA doesn't take much work. You'll contact the company, and then Birch will help you find a suitable custodian for your needs. From here, you'll get to fill out your paperwork and get your account funded.
Once funded, you'll be able to choose the precious metals for your account. Again, you'll get expert advice on which metals you can add to your account. As soon as you're done, Birch will send off your metals to the storage facility and handle all of the shipping.
One of the best parts about working with Birch Gold Group is that they stay in communication with clients about their investments. Once you have an account, you'll work with a dedicated specialist who will keep you up-to-date about your IRA. Whether you need questions about your account or want to know about the market, your specialist is there for you.
Regal Assets is a bit different than the other companies we discuss on this list. While it does a great job of helping consumers with their silver IRAs, the company is also a leader in aiding consumers who want to invest in the cryptocurrency market.
Though Regal might be a little unusual, it's almost universally well-loved. The company doesn't just have excellent reviews from customers, it also has exceedingly high grades from organizations like the Better Business Bureau. Regal might not be the company that's been around the longest, but it's undoubtedly established itself as a leader in the field.
Regal's relative youth does bring with it some other unique touches. For example, the company allows you to start your application for your IRA online. This cuts down on the amount of physical paperwork you'll need and speeds up the investment process.
Once your forms are filled out online, they're sent to a specialist. Once the documents are received, the specialist will call you to get any other information they might need for you to get your account started.
Regal offers all of its customers four different types of IRA profiles. Each one has a different minimum investment amount, and each can be used for different types of investors.
Of course, Regal also offers products that can be used for personal investment. The company notably has its "survival" packages that consist of five to ten thousand dollars in precious metals, all hand-picked by the company.
Pricing is fairly competitive here, with most customers noting that they paid less in fees than they might have with some of the other companies on our list. As such, Regal continues to be a good choice for many investors.
When it comes to making life easy for consumers, few companies can outdo Noble Gold. The company is about making things simple, whether you're trying to start up a new account or rolling over one already existing.
Noble Gold has partnerships with several financial experts, making them a leader in client education. It doesn't matter if your question is within Noble Gold's purview - if you ask, they'll find the answer.
Noble Gold's attempts to make life easy extend to pricing. It is one of the few leading companies that publish their silver prices on the website, allowing users to figure out what they'll be paying from the beginning of the investment process.
Likewise, fees are straightforward to understand. Many companies are loathed to list their fees upfront, but Noble Gold puts everything you need to know on their website. You'll pay eight dollars a year for account maintenance, plus one hundred fifty dollars per year for a combination of storage and insurance.
Noble Gold's storage is also quite nice. Rather than blending your assets with others, you'll get access to segregated storage that you and your chosen custodian can only access.
Opening an account is relatively straightforward here. You'll call the company, talk to a representative, and be asked a host of questions to help you figure out the type of account that will work for you. Once you've got the requisite information, you can start setting things up.
Frequently Asked Questions
1. What is a silver IRA?
A silver IRA is a particular type of retirement account that is funded through the purchase of silver. All silver in these accounts must meet IRS standards of purity and must be purchased just for this account.
In addition to silver, you can fund a precious metals IRA with a few other metals, including gold, palladium, and platinum. These IRAs tend to be self-directed, allowing consumers to choose their asset types.
2. So which to choose: Gold or silver IRA?
Each one of these types of IRA has its benefits and drawbacks. Both, though, have the same advantages and disadvantages that come with investing in any type of precious metals.
On the positive side, both accounts tend to grow in value as currency values drop. Likewise, they tend to rise in value even when the stock market is volatile. Both gold and silver are assets that you can hold in your hand, which makes them feel more real. They are also both assets that can be used to diversify your holdings.
With that said, each of these metals responds differently to market pressures. Gold and silver also have wildly different costs for those first buying into the market, so it's always a good idea to figure out which type of investment works best for your retirement needs.
If you're looking for a quick answer, some quick facts can help you lean towards one type of investment or the other.
Silver tends to cost less than gold, making it an easier initial purchase. It's also used in manufacturing, so it has more room for growth. Silver is also far easier to find at lower prices, usually due to its prevalence on the market.
Gold, on the other hand, costs more. This means that you'll need less gold to store value. Gold also tends to be more stable than silver, especially when the economy feels uncertain.
Of course, both metals have their adherents, but the most straightforward answer is that most investors tend to have some combination of both metals in their accounts to diversify.
3. Do you need to be an expert to open a silver IRA account?
Absolutely not. While most silver IRAs are self-directed, this doesn't mean that only experts have them. Self-directed means you get to control your account, with only IRS regulations having a say in what you can do with your items. This gives you more freedom, even if that can seem scary.
The good news is that you don't have to be some investment whiz to have one of these accounts. While some top-tier investors use silver IRAs, the truth is that the information they use is the same kind of information that any consumer can get from an IRA company.
Every good silver IRA company employs a host of experts to help you learn more about how silver IRAs work and how the metals market can make a difference in your investment strategy. Offering advice is something that all of these companies do, as their reputations tend to be better when their clients can be successful.
The company with which you work will determine the kind of investment information you get, of course. Some will be less risk-averse than others, but any reputable company will help you ensure that any investment choices you make are suitable for the kind of future you are trying to build.
In addition to the information that you get from the company, you can also do your research. There is more information out there than ever about silver IRAs, and reading a few articles can help you to make informed decisions. It's definitely recommended that you spend some time doing your homework before you start to invest.
4. What should I look for in a silver IRA company?
Finding the right silver IRA firm means looking past excellent web design and ignoring the copy on their homepages. Instead, you will need to look a little bit deeper to determine what they offer and what they believe.
In short, you'll have dig to find out how companies work. Though a quick perusal of a company website can be pleasant, the real information is usually found elsewhere online.
So, what do you need to look for when searching for?
Start by looking at review sites that aren't related to the individual company. TrustLInk and TrustPilot tend to be great resources here. If the reviews are primarily positive, you can start to feel good about the company.
Next, determine if the company has an established client base. If they tend to tout a client base in the thousands but have no reviews, you need to be very suspicious about how the company works.
After that, you need to look at the cost of investment. Is it easy to determine what kind of fees the company charges or whether their prices are fair? If not, you might be in trouble if you work with this company.
You should also look for companies that hire specialists not just in IRAs but in various financial roles. The more types of experts the company has, the better they can help you to meet your own goals.
The top silver IRA companies also tend to offer more information. They have various resources on their website to teach you about investing, and their representatives are more than happy to help you learn more. If a company's representatives are unable or unwilling to answer questions, that's a red flag.
The best companies also tend to be more focused on your needs than on trying to sell you more. Only a small part of your overall investment portfolio should be in metals, and good companies aren't trying to take more of your money than necessary. If a company tries to push you into an investment, it's not treating you correctly.
Finally, you need to find a company that makes you feel comfortable. If you think things aren't right, the company probably isn't right for you. Your relationship with this company may last for decades, so you must feel comfortable working with their representatives.
We've provided a list of some excellent gold companies, each of which are fantastic fits for most investors. They're great at helping individuals figure out how to invest in precious metals, how to set up their accounts, and how to move forward with diversifying their portfolios. Goldco, however, definitely stands about above all the rest.
Goldco manages to stand out by having a great reputation, making it very easy to set up or roll over an IRA, and providing the kind of team support that makes it far easier to invest than most would imagine. The company also has a fantastic selection of gold and silver products that can be added to a Gold IRA and a real flair for customer service.
If you're going to go with one company on the list, it really should be Goldco. Take a look at their website today to get the information you need about a self-directed IRA, or go ahead and take the plunge to get your Gold IRA set up.
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