- 03 Jan 2023
- Bonds
- Precious Metals
- Comments: 0
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Silver is one of the most sought-after precious metals on the market. Not only is it relatively inexpensive, but it also has huge potential for growth. There's an increasing demand for silver in industries like electronics and manufacturing. The metal is necessary to make certain components of machines and cell phones work.
But it can be overwhelming to look for silver to invest in. Even if you know what kind of coins or bullion you want to buy, you have to find a reputable dealer.
We've taken a look at our main three picks when it comes to silver investment. These are some of their services, along with a quick look at the silver products in their inventories.
Top 3 Silver Investment Company
#1. Goldco
Goldco is a fantastic company to work with, no matter what kind of silver investment you want. If you're using your retirement funds, they have dedicated IRA specialists who will help you create an account. Their catalog is full of silver products that are eligible for IRAs, as well as a few non-eligible selections.
Goldco has by far the most diverse range of silver available. However, companies like Augusta Precious Metals have a variety of items that might interest collectors.
Silver Products
Despite the company name, Goldco doesn't just focus on gold. They also have a variety of silver investments in their inventory. As with any company, the available products will vary by the day. You'll also need to call to confirm availability and get a price quote, since the website doesn't show the prices in real time.
Most of the silver products are eligible to hold in an IRA. But some, like the collectible Chuck Norris coins, are not. Numismatics can't be held in an IRA due to specific IRS prohibitions.
Some of the company's potential silver products include:
As you can see, Goldco has one of the largest and most diverse selections of silver coins on the market. The vast majority of these coins are eligible to be held in an IRA. Many of them are minted by the Perth Mint in Australia or the New Zealand Mint, as well as the US Mint right here in the United States.
Augusta Precious Metals is another great company serving people all over the country. They focus mostly on education, with managers who have spent decades in finance and precious metals alike. There are webinars that you can sign up for without ever making a purchase, plus free online kits with eBooks to download.
If you're investing your retirement funds, Augusta does have a somewhat steep barrier for entry. You're expected to buy at least $50,000 worth of silver or gold. But in return, you'll get a lifetime of ongoing customer service. Whenever you have questions about your holdings or want an update on the market, your company rep will be just one phone call or email away.
Silver Products
Augusta's website divides their silver products into common silver and premium silver. Both have a number of items that can be held in an IRA. There are also some non-IRA items that must be purchased with cash. All of the silver is high quality and ideal for an investment portfolio, whether you use cash or your retirement savings.
When you look at the common silver offerings, these are some of the options:
You can expect to pay a lower price overall for the common offerings. However, you also get less choice in your product. For example, you might buy a coin from a random year or you might get a bar with a design that you didn't choose.
If you're just trying to buy as much silver in bulk as possible, then these are great investment opportunities. If you have specific tastes or needs, then you might want to look at the premium silver offerings.
Some of the premium silver products include: