To include these items in your Precious Metals IRA, you must first contact our IRA Department at (800) 418-0235. For more information, please visit our Precious Metals IRA page.
IRA-Approved American Silver Eagle Coins
The term "IRA-approved Silver American Eagle coins" refers to a specific type of silver bullion coin that meets the requirements for inclusion in an individual retirement account (IRA). Here's some information about these coins:
- IRA-Approved Status: To be eligible for inclusion in an IRA, the IRS has established certain requirements for silver coins. Silver American Eagle coins are approved for IRAs because they meet these requirements. The coins must be minted with a minimum purity of 99.9% silver and be considered legal tender in their country of origin.
- Physical Specifications: The Silver American Eagle coin has a standard weight of 1 troy ounce (31.1035 grams) and a diameter of 40.6 millimeters. The coin contains a full ounce of silver, which makes it easy to determine its value based on the prevailing spot price of silver.
- Precious Metal IRA: Many investors choose to hold physical precious metals, such as silver and gold, in a self-directed individual retirement account (IRA). This allows them to diversify their retirement portfolio beyond traditional assets like stocks and bonds. To include IRA-approved Silver American Eagle coins in your retirement account, you would typically need to set up a self-directed IRA with a custodian or trustee that allows for alternative investments.
Investing in IRA-approved Silver American Eagle coins offers several potential benefits. First, silver is considered a tangible asset and is often seen as a hedge against inflation and economic uncertainty. Second, since these coins meet the requirements for IRAs, you can enjoy the tax advantages associated with retirement accounts, such as potential tax deferrals or tax-free growth, depending on the type of IRA you have. Lastly, the popularity and recognition of Silver American Eagles make them relatively easy to buy, sell, and trade.
Remember, it's important to consult with a financial advisor or tax professional who specializes in retirement accounts to understand the specific rules, regulations, and tax implications related to holding precious metals in an IRA.
History of the Silver American Eagle Series
The Silver American Eagle coin series was introduced by the United States Mint in 1986. The creation of the series was authorized by the Liberty Coin Act of 1985, which aimed to provide American investors with a convenient and affordable way to acquire silver bullion coins.
Since its introduction, the Silver American Eagle has become immensely popular among both collectors and investors. The coin's combination of historical significance, exquisite design, and high-quality silver content has made it a staple in the precious metals market.
Initially, the United States Mint produced the Silver American Eagle coins only in a 1 troy ounce size. However, due to increasing demand, the mint expanded the series in 1987 to include fractional sizes, such as 1/2 ounce, 1/4 ounce, and 1/10 ounce. These smaller sizes allowed for greater affordability and flexibility for investors.
Over the years, the United States Mint has minted both bullion and proof versions of the Silver American Eagle coins. The bullion coins are intended for investors and are sold through authorized dealers, while the proof coins are struck with specially polished dies and have a mirror-like finish. Proof coins are often collected for their beauty and are typically sold directly by the mint.
The Silver American Eagle series has enjoyed consistent popularity and has become one of the most recognized and trusted silver coins worldwide. Its status as a legal tender coin, backed by the U.S. government, further contributes to its appeal and widespread acceptance.
Whether sought after by collectors for their numismatic value or acquired by investors as a tangible store of wealth, the Silver American Eagle coin series continues to play a significant role in the world of precious metals.