The Monex Silver IRA:
A Way to Harness the Powerful Potential
of Silver for Your Retirement Portfolio
Although silver bullion has served mankind for centuries as a primary monetary metal, silver is most commonly used today as an industrial commodity . . . and the vast majority of silver mined each year is consumed by industrial use. It is estimated that more than 95% of the silver mined throughout history is gone forever, unrecoverable at any price. In 1900, there were about 12 billion ounces of silver in the world. Today, according to the 2014 CPM Group Silver Yearbook, total identifiable silver stocks worldwide totaled just 971 million ounces at the end of 2013.
In recent years, silver bullion and bullion coins have become increasingly popular among investors due to their relatively low cost (compared to the price of gold) and significant price volatility, and thus, silver's impressive profit potential. Over the past 10 years, silver has ranged in price from a low of about $5.50 per troy ounce to a high of nearly $50 an ounce. This makes silver a high-potential investment, an important way to diversify one's investment assets and a solid candidate for inclusion into a long-term retirement portfolio.
Setting Up Your Silver IRA Account with Monex
A silver IRA account is an outstanding way to take advantage of the price appreciation potential of silver, as any profits generated accrue in the account on a tax-deferred basis. Anyone who has earned income or is the spouse of a wage earner is eligible to open a silver IRA, and there is no limit to how many IRA accounts an individual may have. The maximum yearly contribution to all of an individual's traditional and Roth IRAs is currently $5,500 ($6,500 for those 50-1/2 years or older), or 100% of earned income, whichever is less. However, there is no maximum dollar amount on transfers or rollovers from an existing IRA account to gold and silver IRA accounts.
As one of America's leading silver dealers, with silver bullion transactions exceeding $1 billion per year for the last 10 years, Monex can be an outstanding source for your IRA silver investments. For more than two decades, Monex Deposit Company has worked with thousands of investors in setting up their precious metals IRA accounts. We work closely with all of the leading IRA custodians in the country, as well as with the largest and most secure independent and registered storage vault facilities. As a result, Monex has become America's trusted name in precious metals investments . . . and particularly, in Silver IRA accounts.
Allowable Products in a Silver IRA
According to IRS rules, only certain types of silver products can legally be included in an IRA.
Silver bullion bars with a minimum fineness of .999 (99.9% pure) AND which have been fabricated by a COMEX, NYMEX or ISO 9000 approved refiner may be included in a silver IRA.
Legal tender silver bullion coins which are at least .999 fine (99.9% pure) may also be included in a silver IRA account.
Not allowed in an IRA are rare or collectible coins, including certified or "graded" coins, or any legal tender silver coins of less than .999 fineness, such as bags of pre-1965 U.S. 90% silver coins or 1965-70 U.S. 40% silver Kennedy half-dollar "silver clad" coins.
Monex Deposit Company currently offers the following silver products for IRA investment which are allowed under IRS guidelines:
- Silver Bullion Bars – 100 troy ounce and 1,000 troy ounce bars of .999 fine silver
- Silver American Eagles – in units of 100 one-ounce .999 fine silver bullion coins
- Silver Canadian Maple Leafs – in units of 100 one-ounce .9999 fine silver bullion coins
- Silver Austrian Vienna Philharmonics – in units of 100 one-ounce .999 fine silver bullion coins
For more information on silver IRA investments, including how to set up a silver IRA account, silver IRA rollovers and transfers, and silver bullion and bullion coin products allowable in an IRA account, please call a Monex Account Representative for complete details.
Please see the following Monex website pages for more information on IRA investments: