While stocks, bonds, and currencies are still popular vehicles to invest in in today’s financial markets, they are far from the only vehicles to invest in. There are many more options today, including mutual funds, exchange-traded funds, cryptocurrencies, and precious metals. Learn why you should consider a silver IRA investment below.
What is a Silver IRA Investment?
A silver IRA investment is a self-directed IRA account in which you decide how much you are willing to invest in silver. You can add silver to your IRA through a company that specializes in this type of IRA investment; this company will recommend a specific depository or trusted guardian to hold the silver you purchase, one that is approved by the IRS.
When investing in silver coins, they must be ones approved by the IRS, as the purity standards have to be 99.9% or higher. Fortunately, the companies that offer this type of investment have a selection of approved silver coins for you to consider and purchase. These can include such coins as the Austrian Silver Philharmonic, the Silver American Eagle, and the Silver Canadian Maple Leaf.
Advantages of Such an Investment
Why would you want to add silver to your IRA? One reason is because of the stability of silver’s value. Unlike traditional bonds and stocks, silver does not fluctuate in value that much, even when negative news of a company hits the airwaves or they have a poor financial quarter. Silver, like most precious metals, also holds it value than most currencies and especially cryptocurrencies, which can fluctuate by thousands of dollars per day.
Another reason is that you do not get taxed on such an investment until you actually withdraw money from the account. Until that point, the investment is tax-free.
Orion Metal Exchange has much experience with silver IRA investments. Learn more about what we can do for you at web.
