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 2017 CPM Group Silver Yearbook, total silver stocks worldwide totaled just 998.8 million ounces at the end of 2016.
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 per ounce) 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 $6 per troy ounce to over $40 an ounce. Silver price volatility is generally higher than gold and can provide investors looking for greater volatility with a higher potential for both gains and losses. Also silver can provide investors with diversification in their precious metals IRA.
Allowable Silver Products in an 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: