Precious metals have always been a popular investment option, especially when it comes to adding stability to an IRA (Individual Retirement Account). While gold usually takes all the fame and attention, silver coins are also an excellent choice for diversification within your retirement savings. But what silver coins are IRA eligible, and why should you consider adding them to your portfolio? In this article, we will guide you through the world of IRA-approved silver coins and provide you with everything you need to make an informed decision.
What Silver Coins Are IRA Eligible Table of Contents
Before we dive into the specifics, it's important to understand the basic requirements that make silver coins IRA eligible. The Internal Revenue Service (IRS) has set specific guidelines for silver investments within an IRA:
- The silver must be in the form of a coin or bar.
- The silver must have a minimum silver content of .999 (99.9% pure silver).
- Coins or bars must be sourced from a national government mint or an accredited manufacturer/refiner.
With these requirements in mind, we can explore the most popular silver coins that meet these criteria.
American Silver Eagle
The most widely recognized and traded silver coin in the world, the American Silver Eagle is the official silver bullion coin of the United States. First minted in 1986, this coin features the iconic design of Lady Liberty and the American bald eagle on the reverse. The American Silver Eagle contains one troy ounce of 99.9% pure silver and has a face value of one dollar. Its status as a legal tender in the U.S. and high liquidity make the American Silver Eagle an ideal choice for those looking to diversify their IRA.
Canadian Silver Maple Leaf
The Canadian Silver Maple Leaf is another prominent choice for silver investments. First minted by the Royal Canadian Mint in 1988, it features the iconic maple leaf design on the reverse and an image of Queen Elizabeth II on the obverse. The Canadian Silver Maple Leaf contains one troy ounce of .9999 (99.99%) pure silver, giving it an even higher purity level than the American Silver Eagle. With a face value of five Canadian dollars, the Canadian Silver Maple Leaf is a well-recognized and trusted investment option.
Speak to a Gold IRA Expert Today. Our Preferred Gold IRA Custodians:
Birch Gold Group
Birch Gold Group stands as your reliable ally in Gold IRA investment. Their unbeatable customer service, combined with rich educational content, makes your journey to financial growth as smooth as possible.
Noble Gold IRA
With its simple 5 minute IRA setup process and experienced team of professionals, Noble Gold is one of the easiest ways to open a Gold IRA & find out more information.
Austrian Silver Philharmonic
First released in 2008 by the Austrian Mint, the Austrian Silver Philharmonic is the official silver bullion coin of Austria. It features the Great Organ of the Golden Hall in Vienna on the obverse and a range of orchestral instruments on the reverse. The Austrian Silver Philharmonic contains one troy ounce of .999 fine silver and has a face value of 1.5 Euros, making it a recognized and increasingly popular option for international investors.
Australian Silver Kangaroo
A relatively new addition to the silver coin market, the Australian Silver Kangaroo was first released in 2016 by the Perth Mint. Featuring the iconic Australian kangaroo on the reverse and an image of Queen Elizabeth II on the obverse, this coin contains one troy ounce of .9999 fine silver. With a face value of one Australian dollar, the Australian Silver Kangaroo meets the IRS requirements and offers another option for diversifying your IRA.
Example
Suppose you decide to add silver to your IRA. You choose to purchase 50% American Silver Eagles, 25% Canadian Silver Maple Leafs, and 25% Austrian Silver Philharmonics, effectively balancing geographic diversification and adding stability to your retirement account.
Investing in IRA-eligible silver coins can be an excellent way to diversify your retirement portfolio, offer potential returns in times of economic uncertainty, and protect your savings. By understanding which silver coins are eligible and learning about their unique characteristics, you can make informed decisions and add stability to your IRA. Don't forget to share this insightful guide with others looking to explore their options for silver investments and explore Pre Columbian Gold's other guides for more information on gold IRAs and beyond.
Speak to a Gold IRA Expert Today. Our Preferred Gold IRA Custodians:
Birch Gold Group
Birch Gold Group stands as your reliable ally in Gold IRA investment. Their unbeatable customer service, combined with rich educational content, makes your journey to financial growth as smooth as possible.
Noble Gold IRA
With its simple 5 minute IRA setup process and experienced team of professionals, Noble Gold is one of the easiest ways to open a Gold IRA & find out more information.
