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Are you looking for the best silver IRA company to trust with and protect your retirement savings? Look no further! We've done the research and gathered the 2023 top-rated 5 silver IRA companies that will keep your wealth protected, secure, diversified, and growing.
“Silver is a great way to protect your wealth and preserve purchasing power in times of economic uncertainty.” – Luke Gromen
It’s never been easier to invest in silver for your IRA than today. You can add a silver IRA to your retirement account and enjoy tax benefits. Best of all, the silver industry has been growing, increasing the potential for silver’s value to rise.
Silver has been an exciting investment for many reasons, including how it is useful in the production of various devices, as well as medical supplies. But one point about silver that might influence how valuable of an investment it may be comes from how silver mining has been in short supply.
The demand for silver is rising, but the supply could drop. This point is critical, as silver has unique qualities that make it hard for people to replace it with something else.
You can contact one of many different groups when getting your silver IRA ready. But be sure when choosing one that you know what you are searching for and you have a plan.
Why Invest In Silver?
Silver is a valuable investment because it can protect you from the potential loss of value in a paper asset. The problem with traditional assets is that their values can drop due to inflation and other risks.
Silver is best for an IRA because it can work as a hedge against inflation. Instead of worrying about the economy and how inflation might become a problem, you can invest in a precious metal whose value can continue rising without risking inflation. Silver and other metals aren’t subject to different rules and terms from governments or central banks, meaning the risk of silver in your IRA won’t be as dramatic as you might expect.
Silver is also necessary for many productions, including for the manufacturing of tech items. Its use as a catalyst in many manufacturing and chemical processes also makes it indispensable. With the ongoing Russia-Ukraine War, as well as the COVID-19 pandemic, the demand for silver in would dressings has shot up compared to historical demand. The general utility of silver makes it an investment that will be worthwhile for many to spot.
What About Silver Bullion Coins?
Silver bullion coins are great for investments because they are more affordable to purchase. Production costs for these coins are often minimal, allowing these coins to be made available for sale at costs less than their melt values.
Silver bullion coins are different from traditional coins in that bullion is a tangible asset that holds an external value. Bullion is intended for investment purposes and not for collectible or speculative intentions. You could sell your bullion for cash as necessary, but keeping it as an investment is recommended for your retirement plans. Quantity or volume discounts may also be available, but that point varies by group.
The popular IRA-approved American Silver Eagle had record breaking purchases from the US Mint in 2020, with sales reaching a staggering 47 million units. Many physical silver dealers across the United States had a tough time meeting the demand with inventory scarce. Some project 2023 and beyond to see even greater sales of this popular silver coin.
Top Five Silver IRA Companies of 2023
There are numerous precious metals companies operating within the United States that offer IRA-approved silver IRA services for retirement investors, but they don't all offer the same educational resources, investing options, and professional standards as these five noted companies below.
These PM companies were chosen after extensive research, to include taking into account independent reviews from respectable organizations, such as Consumer Affairs, Better Business Bureau, and Trustpilot.
- Augusta Precious Metals – Best Overall Silver and Gold IRA Company
- Goldco – Most Affordable Silver IRAs
- Birch Gold Group – Best Silver Asset Selection
- American Hartford Gold – Best For First-Time Investors
- Noble Gold – Best Customer Service
Augusta Precious Metals – Best Overall Silver and Gold IRA Company
Your first option for a silver IRA company is Augusta Precious Metals. Augusta is a team that works alongside Equity Trust and other high-level IRA custodians. The team has multiple depositories in the United States where your silver will stay in secure storage.
Augusta PM offers quality customer service and a thorough knowledge base to help you understand how the market works and what you can expect. Your account representative will ensure you receive the help you deserve and that you won’t struggle when managing your silver IRA.
It doesn’t take much to complete a transaction through the Augusta platform, as you will have access to the best content. The online platform also helps you see what price movements are happening, helping you keep tabs on how your investment works.
Be advised you will require at least $50,000 to get a silver IRA with Augusta ready. But the process of establishing the IRA after you get those funds is easy, plus the team ensures secure depository storage of your assets. All precious metals are also insured, allowing you to enjoy your investment without risking possible losses.
- Named “Best Overall” by Money magazine in 2022
- Trusted by educated and serious wealthy investors
- Joe Montana endorsed and satisfied client
- High customer ratings
- Offers one-on-one web conference for investors
- No-pressure sales approach
- Requires a minimum investment of $50,000
- No online purchase option
- English only, no bilingual support
Goldco – Most Affordable Silver IRAs
Investors looking for an investment option that might be more affordable can consult Goldco for help. The team at Goldco has an extensive array of silver bullion options for you to purchase, plus there’s a buyback program where you can sell back your precious metals to Goldco as necessary.
The team at Goldco is very transparent when discussing its fees for service. The team offers affordable IRA custodial plans, plus you could qualify for up to $10,000 in free silver when you open an IRA. You will still require a minimum investment of $25,000 when starting your silver IRA, so be sure you have the funds necessary for the work before going forward.
The group is very transparent about what it costs to invest in silver for your IRA. You will get details on what you will spend for each item you acquire from Goldco, plus the team lets you know about any necessary fees before they happen. The work provides enough details on what to expect, ensuring you won’t be left in the dark when finding an investment you can trust.
- Winner of “Company of the Year” 2022 Stevie Awards
- Sean Hannity endorsed
- High ratings from BBB and BCA
- Established in 2006
- Managed service for rolling over or transferring funds
- $25,000 minimum investment for IRAs
- No online account setup option
- No platinum or palladium options available
Birch Gold Group – Best Silver Asset Selection
There are many options for silver available through the Birch Gold Group, a team that has been providing silver IRA support for more than twenty years. You can order silver coins, bars, and bullion through the Birch Gold Group, plus the team can help you get your IRA ready for use. If you would like to pursue other precious metals iras for retirement investing, then BGG is your choice, due to their vast selection of precious metals, to include platinum coins and palladium coins.
The financial advisors at Birch will help you learn how to get your silver IRA ready. The team is experienced in managing various setups and will help you find a solution that works for you. You can also learn how to complete a 401k rollover into a silver IRA when you contact the customer service team for help.
The group also offers various perks for investors. The group will cover your first year’s fees after you make an initial purchase of at least $50,000 for your silver IRA. For our in-depth review of BGG, please click here.
- Established in 2003
- Long-standing company in the industry
- Partnered with Ron Paul for educational awareness (e.g., sound money & economics)
- Exceptional ratings from BCA and BBB
- Diverse range of silver and gold IRA-approved products
- Lower minimum investment to get started (10k)
- Clear and transparent fees
- Limited options for palladium or platinum investments.
- Account transfers can take longer
- Online account set-up isn't available
American Hartford Gold – Best For First-Time Investors
American Hartford Gold is a relatively new group that has been providing precious metal IRA services since 2015. The team includes a helpful resource for investors with representatives that understand the field and are available for one-on-one consultations for support.
The team at American Hartford has an extensive array of silver investment options for you to explore. The group also does not charge extra for shipping, insurance, and other maintenance fees. But the team does not list its silver prices on its website, so you’ll have to contact them yourself for info on what you would spend in this situation.
American Hartford does have a $10,000 minimum for starting your silver IRA. The total is one of the lowest you’ll find in the industry. The group also has a buyback program for silver and other metals with no liquidation fees. The team is open to purchasing various silver items, especially since the group has a vast silver catalog. If you would like to learn more on how American Hartford Gold compares to other precious metals IRA companies, such as Augusta Precious Metals, click here.
- Established in 2015
- High ratings from BCA and BBB
- Minimum investment not required to open a Self-Directed IRA
- Family-owned and operated
- Account set-up required over the phone and not online
- Palladium not available as investment option
Noble Gold – Best Customer Service
Proper customer service is a must when finding someone who can help you with your silver investment, and Noble Gold will be there for you. Noble Gold offers one-on-one guidance to people looking for help with their investments. The team’s roster of estate planning attorneys, CPAs, and other financial agents have the knowledge necessary to help you move forward with your silver investment plans.
You can also incorporate other precious metals in your silver IRA if you wish. The team has a complete listing of different metals available for use in your silver IRA, so it’s easy for you to go forward with what you need.
One exciting feature of Noble Gold is its Royal Survival Pack, a product it sells with precious metals that are highly liquid. Your pack can be used in emergencies where you might require access to a substantial amount of money. But this program is only available in the United States, plus it does not go into your IRA. This feature still shows how the people at Noble Gold care about their investors.
- Dedicated and secure storage facility in the great state of Texas
- Offers the best value for segregated gold IRA storage
- Entry minimum IRA investment of $2,000
- Increasing number of positive reviews
- Relatively new company in the industry, established in 2016
- International storage isn't an option for customer's hard assets
Why Is Silver So Appealing For 2023?
The 2023 calendar year will offer multiple investment choices, and silver is one of the most exciting to spot. Silver is often used in the production of various items, including medical equipment, electric vehicles, solar panels, and electronic products. Silver is also used as a chemical-producing catalyst for many mechanical processes.
Silver can be found in many appliances, vehicles, and mobile devices like phones and tablets. Silver is a critical component used in the massive rollout of the cellular 5G network upgrade for electronic applications. Silver’s ability to conduct energy makes it necessary for powering up items and supporting renewable energy sources.
Between 2010 and 2019, silver demand for solar panel industrial use grew at an annual rates of 20%. With the approved Inflation Reduction Act of 2022 (IRA), this rate is expected to exceed this prior annual rate growth.
It's well known that silver plays a critical role in the rapid advancements of medical tech equipment tech. But, did you know that silver is a key input for wound dressings in the medical space, thanks to being an antimicrobial agent. Silver wound dressings have shown positive signs for improving wounds and reducing infection rates, in everything from staph infections to war injuries.
According to recent research by Industry Research Biz, “Due to the COVID-19 pandemic and Russia-Ukraine War Influence, the global market for Silver Wound Dressings estimated at USD 921.4 million in the year 2022, is projected to reach a revised size of USD 1221.4 million by 2028, growing at a CAGR of 4.8% during the forecast period 2022-2028.” and “The USA market for Silver Wound Dressings is estimated to increase from USD million in 2022 to reach USD million by 2028, at a CAGR of % during the forecast period of 2023 through 2028.” Other key players in the silver wound market, such as Europe and China have high demand projections as well for hospitals, clinics, and other markets.
But there are some concerns, especially from manufactures (e.g., 3M Company) over how much silver might be made available to meet so many growing needs. Silver mining has been in short supply, as silver output in mining projects has been minimal versus the demand. Various silver mines are being harvested in Central and South America, but there are other concerns to spot.
Mining companies have been getting out of China, as the Chinese government has been taking over many of the silver mines in that country. Companies are also getting out of Russia following Russia’s ongoing invasion of Ukraine.
China and Russia are two of the world’s top silver-producing countries, so pulling out of those two areas will be a problem. The odds of groups getting back into Russia even after the invasion of Ukraine ends are also minimal, especially with there being so much tension in the region.
“Silver is a unique investment. It has the potential for huge gains, but it is also an industrial metal with real-world uses.” – Doug Casey
The need for silver will increase in the future, particularly as society depends increasingly on technology and alternative energy sources. Given this, there is a greater chance that the price of silver would rise, which would be quite advantageous for holders of silver IRAs and investors in silver bullion.
What About the Pricing Versus Gold?
Another thing to note about silver is that investors can find its worth more alluring than gold. Due to its reduced price, investing in silver is frequently simpler for consumers. The low price of silver puts it in a position where its worth has a better chance of increasing, even though you might still need a large purchase minimum to have a silver IRA ready.
Per the Silver Institute, the highest price of silver of record history reached $49.45 and ounce in January 1980. As of January 2023, silver had a spot price of $24 on the New York market. Gold’s value was much higher at $1,900. These prices are both for a single ounce.
Silver’s value is dramatically less than gold and other precious metals, where people may be more interested in this investment to enter the metals market. This factor could help bolster the price of this precious metal and make it more interesting for people to spot for investment purposes. If gold rises to over $3,000 spot price during 2023, silver will follow as well, perhaps to close in on or surpass the 1980 top closing price.
In regards to preserving wealth in a bear market or economic recession, precious metals are an excellent choice. And among those precious metals, silver stands out as a particularly compelling option.
Not only is silver a true store of value, a form of money that has been used for thousands of years, but it also has vital industrial use. This dual nature of silver gives it a unique level of stability and growth potential that makes it a smart choice for any investor looking to secure their financial future.
When it comes to adding silver to your portfolio, a precious metal IRA can be a great way to do it. But don't just jump into any old silver IRA, do your due diligence and find a reputable organization that has the experience and expertise to guide you through the process.
Remember, it's your money, your future, your family legacy, and your responsibility to find the best option that suits your needs. Hopefully, this review helped focus your choice on the pool of quality companies to consider.
We recommend Augusta Precious Metals as the top custodian for handling your silver and gold investment needs. Money Magazine rated Augusta as the “Best Overall” within the silver and gold IRA space, and we concur on this choice.
Stock and bonds have failed retirement savers over the last few years with proper diversification protection. Look to change that by rolling over your traditional IRA and 401(k) into a self-directed IRA to access alternative investment options in the precious metals space. Get started today before the economic downturn accelerates.
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Risk Disclosure: Any investments into alternative assets, including precious metals, such as gold, silver, platinum, and palladium, come with an inherent risk, where you could end up making less money than what you put in. Before investing your hard-earned cash, be sure to speak with licensed professional financial advisor first. Always remember that past performance is not an indication of future returns.
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