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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
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.
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.
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:
It's important to note that the premium offers from Augusta are limited, so you might not be able to get your hands on all of these items. Many limited edition Canadian coins from past years have already sold out.
American Hartford Gold is a company that reaches out to Americans on a budget. If you're interested in buying silver but don't have much money to spend, this is the place to start. Their silver products are highly affordable, and they don't have any setup fees or other requirements to open an IRA. They'll help you with the paperwork completely free of charge.
AHG functions by buying up their inventory in bulk at wholesale prices. That way, they can sell to people for a much lower markup. Past customers state that they were able to find great pricing through AHG's specials and promotions.
If you don't get the best price for a product with AHG, they even have a price match guarantee. All you have to do is show them the offer in writing, and they'll match it for you. It's that simple.
American Hartford Gold has quite a variety of silver products available. In fact, they may have more silver on hand than gold. With most pieces, you can expect to get a product that was minted in previous years. The most recent coins have a premium price, so it's more difficult for AHG to buy them in bulk.
Some of the IRA-approved silver products include:
As you can see, there's quite a few coins to choose from when you're deciding on products for your IRA. You'll be able to decide whether you want to get the most silver for the lowest price, or whether you want to prioritize certain items. For example, some investors gravitate toward proof coins because of their higher quality and potential for financial growth.
American Hartford Gold also offers quite a few silver products that you can't put into an IRA. Sometimes this is because of the purity, while other times it's because of the type of coin. If you're interested in buying silver with cash, your additional options include:
You can discuss your investment goals with your representative and ask about what's in stock. They'll be able to point you in the direction of the best coins and give you a price quote.
Silver has numerous documented benefits as an investment. Because of its low price, it is more accessible than gold and other precious metals. At the same time, it has many applications in the industrial sector. So there's more potential for growth as the supply and demand fluctuates in the industry.
But a silver investment is only as good as the company you choose. It's vital that you use a good dealership. Not only should you be looking for fair and inexpensive pricing, but you should also be looking for excellent customer service. If you plan to use your retirement funds to invest, then you should seek out companies that offer IRA services.
All three of our top choices have silver available for retirement accounts and for personal portfolios. Their websites all clearly mark which items are eligible for an IRA and which aren't. While you'll need to call to get pricing quotes, past customers do report that they were given fair and reasonable offers.
Overall, we like Goldco the best for silver investments. They have a huge inventory with a wide range of different items. Whether you're looking for something specific or just trying to stretch your dollar as far as you can, this is a great place to start. Their retirement specialists can also make all of the calls and file all of the paperwork for you.
Augusta is a good choice for people with a lot of money to burn, since their retirement services start at $50,000. You can also make cash purchases of their silver. There are a lot of bags of silver available with a different face value. You'll be able to assess each of the coins inside and determine whether it can be liquidated for a higher price.
American Hartford Gold is our top pick if you're on a budget. Some people gravitate toward silver because it costs a fraction of the price of gold. If that's you, then you'll appreciate AHG's lack of fees. They have a super transparent structure and frequently run extra promotions. You can also take advantage of the price match guarantee if you get a better price quote elsewhere.