Best Silver IRA Custodian

One of the best ways to bail out for retirement is through a self-directed IRA. Not only can you make tax-deferred contributions, but you also have more control over your investments than in other types of IRAs. The custodian or trustee that holds your account will offer investment options, and you are free to choose from them as long as they meet certain qualifications. One of the most important decisions when choosing a custodian is whether it offers physical silver assets.


Top 6 Silver IRA Custodian Compared

RANK

COMPANY

TRUSTLINK

MIN. INVESTMENT

PRICING

MORE INFO

1

Goldco

5 Star Rating

$25,000

Great - 10K Free Silver*

2

Regal Asset

4 Star Rating

$10,000

Good

3

Gold Alliance

4 Star Rating

$10,000

Good

Review of Gold Alliance

4

American Hartford Gold

4 Star Rating

$2,500

Good

5

Fisher Precious Metals

5 Star Rating

No minimum

Best *Price Match Guarantee!

Review of Fisher Precious Metals

6

Patriot Gold Group

5 Star Rating

$15,000

Good

Review of Patriot Gold Group


Best Silver IRA Custodian Reviews

Goldco

Goldco

www.goldco.com

Star Rating

Goldco helps people protect their retirement savings by rolling over their existing IRA, 401(k), 403(b), or other certified retirement accounts to a Gold IRA. A privately held firm that specializes in luxury and asset protection, They have an A+ rating from the Better Business Bureau and a Triple-A rating from the Business Consumer Alliance based on the customer.


To learn how to use precious metals to build and protect your wealth, and even for your retirement.


Goldco provides services for people who want to have an IRA that is funded with precious metals. They help when you want to move your old retirement account over to one that has metal in it. Goldco helps if you want to buy back the metal or sell it on the market if you start taking money out of your IRA.


Pros

  •  This company offers gold and silver IRAs.
  • Free retirement resources
  • Get information about how much a home is worth from an online site or phone.
  • Goldco specializes in Precious Metals-backed IRAs, which are for people who want to save money.
  • The company has above ten years of experience in Precious Metals IRAs.
  • This company has a good rating from the Better Business Bureau.

Cons

  • Only gold and silver IRAs, not precious metal accounts
  • The company does not provide any services for a custodian or storage.

Regal Assets

Regal Assets

www.regalassets.com

Star Rating

Regal Assets made the number 1 spot on our list of gold IRA firms in 2021. They have a lot of great reviews and few complaints. They also have competitive prices for their precious metals and bullion coins, which are approved for IRAs. Note that, at the time of this review, Regal Assets charges no rollover/transfer fees.

 
Regal Assets has many happy customers. They have testimonials from people in the industry and celebrities. And when you called them, they were very helpful. Regal Assets is the best company because they have a 99.9% satisfaction rate since opening their doors. This company was recently ranked #20 in the Inc.


Pros

  • Official member of the Forbes Finance Council.
  • This organization has an A+ rating with the Better Business Bureau.
  • This company has five stars on TrustLink and is a preferred member.
    Customer-focused.
  • Costs are provided upfront.
  • Many storage options, including offshores
  • Non-pushy sales.

Cons

  • Currently, the company only serves clients from a few countries.
  • The delivery process takes a long time.
  • Minimal investments are not going to be enough for some investors.

Gold Alliance

Gold Alliance

www.goldalliance.com

Star Rating

Gold Alliance was created in 2016 by a person who has been doing this for over 20 years. Gold Alliance is different from other investment companies because they specialize in gold and precious metals. Gold Alliance does not offer stocks or mutual funds. The people at Gold Alliance work in an advisory role to help people choose what precious metals they should buy.


They help them create a gold IRA, which is a plan that helps buy precious metals. If you want to finance in gold, you can do this with a gold IRA. It is self-directed, and you will receive physical gold bullion bars.


The gold IRA is a good option because there are no penalties or consequences. Another service they offer is gold and silver direct delivery purchases. Once you have paid for the purchase, they will deliver it to you quickly. Gold Alliance delivers your purchase to you. They use the United States Postal Service and FedEx (or other shipping companies) to do this.


Pros

  • A+ rating with the BBB
  • When a lot of people give a good review on Google, it is five stars.
  • Buy-Back guarantee
  • Lifetime client support

Cons

  • They do not have a long history of experience because they are a young company.
  • They don't list the prices of precious metals on their website.

American Hartford Gold

American Hartford Gold

www.americanhartfordgold.com

Star Rating

American Hartford Gold Group is a family-owned business that gets rid of valuable metals. They have been doing this for many years and are experts in this area. Gold and silver are available in three different types. One is a bar, which you can use for money. Coins also work as money. The last type is called bouillon, which you can eat when you are not feeling well. Gold and silver IRAs are an option to a traditional IRA (which focuses on bonds, stocks, etc.


American Hartford Gold Group doesn't charge for setting up a precious metals IRA or for rolling over a retirement account. It also doesn't charge fees for shipping your precious metals to the depository, including insurance and tracking.


Pros

  • Buy-back guarantee
  • High customer ratings
  • There is no shipping fee.

Cons

  • Metal investments are risky.
  • No prices on online catalog

Fisher Precious Metals

Fisher Precious Metals

www.fisherpreciousmetals.com

Star Rating

The company is a nationally awarded precious metals dealer. They serve small investors to high-net-worth individuals. They want to offer you good service and teach you about buying precious physical metals.


They buy and sell physical bullion, coins, and bars. They also have accounted for people with a lot of money in their retirement plan account that they want to save. There is also a place to store your gold and silver when you don't want them at home.


With a threat of economic failures, people are buying more gold. They believe that gold will help them protect themselves from financial risks. You are likely one of those people who have come to this conclusion, and you want to find trustworthy dealers to buy gold from.


Pros

  • They have a program where they buy your house back for the same price that you bought it. This is good in competitive markets because prices are changing a lot.
  • They have no minimum amount for how much you can buy from them.
  • They offer a lot of products that have low premiums.
  • This company has a website that shows how easy it is to access them and their transparency.
  • All workers are investors like you.
  • Their products are 100% authentic.

Cons

  • Their shipping charges demand that you make expensive purchases.
  • They need more people to rate it.

Patriot Gold Group

Patriot Gold Group

www.patriotgoldgroup.com

Star Rating

Patriot Gold Group is a precious metal dealer that specializes in facilitating transactions for the sale of IRAs. They are part of the best because they offer one-day setup and easy account access.


The Los Angeles-based Patriot Gold Group has been in operation since 1990. The company is a PCGS member and is also accredited by the Numismatic Guaranty Corporation (NGC).


Pros

  • Specialize in Precious Metals IRAs and will take care of the process.
  • Investor Direct pricing
  • 20 years in business

Cons

  • To get information about the company, you need to call them or fill out a form on their website.

What is an IRA Custodian?

Custodians are people who keep your money safe. If you have an IRA, then you need a custodian to do that. A custodian is different depending on the type of account (tax-deferred or tax-free). Different types of investments require different people. You don't need to bother about this if you are choosing a mutual fund or stock, but IRAs that hold other investments will require a self-directed IRA custodian.


An IRA custodian is a company that locks up your money. They help keep it safe, and they make sure that you follow all the rules.


If you want to find a Custodian, they are not hard to find. But when you start looking for one that is the best for your account, it can be difficult.


Once you have set up an account with the custodian, they will give you a statement. This will tell you how much metal your account has and what it is worth. You can take the metal out of your account whenever you want to.


SDIRAs, IRS, and Custodians

Why do you need a custodian?


Custodians are people that hold things separately and keep them safe. They do this by making sure they can not mix with other stuff and keeping them in a safe place. Custodians do many jobs, like legal ownership of your scheme's assets, recording transactions to specific accounts, settling bank accounts, executing documents for you, and reporting.


SDIRAs and the IRS

An SDIRA can use any type of traditional IRA custodian. But it is too easy to make a mistake and break the IRS rules if you are not careful, so be careful. Account holders need to be careful about these things:

  • Investing in an S corporation is prohibited.
  • Avoid disqualified parties
  • Avoid self-dealing.

What are the Types of IRA Custodians?

If you wish to set up an IRA account, many different financial institutions can be your custodian. You will need to go through all of them and find the one that is best for you.

Banks

A bank can be a good thing. They offer FDIC-insured security and CDs or money market funds within an IRA account. But most banks do not offer investment choices outside of these things, like stocks or bonds. And some banks charge higher fees than brokerages.

Mutual Funds

Mutual funds are a way to invest money. You can get them through a company called a mutual fund company. They offer different types of investments, like ETFs from big companies.

Brokerage Firms and Insurance Companies

If you like to buy stocks or bonds, as well as mutual funds or ETFs, a brokerage might be the right choice for your IRA.

Robo-Advisors

Robo-advisors are new. They are online platforms that provide advice about how to invest your money. This is different because humans will not be involved. The cost of investing with a robo-advisor is lower, which helps the rate of return on your investment to stay high.

Custodians

You can go the self-directed route to invest in an IRA. There are three types of contributors for self-directed IRAs: custodians, administrators, and facilitators. Custodians are approved by the IRS and allowed to hold assets.


When you are choosing someone to be the custodian for your self-directed IRA, it is important that you think about what type of investments you want to do and then choose a custodian who can do those. It's very easy to break some of the rules that the IRS has and get in trouble. It can be hard to fix it.


Be careful about what you invest in for your self-directed IRA. It is important to know that the IRS prohibits certain investments, such as collectibles and alcoholic beverages. You can find more details about these types of prohibited investments along with other triggers for penalties or additional taxes in this section of Publication 590.6 from the IRS.

Administrators and Facilitators

Administrators and facilitators work for you. They are in the middle between you and your partner, who holds the assets. So if you want to open a self-directed IRA, choose a true custodian.


If you go down the scale of authority and responsibility, you find people who help people with IRAs. If you have seen an ad for a self-directed IRA LLC, then that is someone who helps people with IRAs.


A facilitator is someone who can provide advice and consulting services. They will often tell you to set up an LLC inside your self-directed IRA account.


It is important to know that a facilitator on its own does not have the same authority as a custodian. A facilitator might work with an IRA custodian who has more authority.


4 Things to Look For When Choosing an IRA Custodian

Searching for a reputable custodian of your investments may be challenging, but don't give up hope. Below are 4 tips to ease the process:

Examine Setup Charges and Annual Fees

The first thing to consider when choosing an IRA custodian for your private investments in gold is whether or not they charge a flat-rate fee or a sliding scale fee. You should also know if they charge setup and admin fees, which will increase the cost of spacing and owning a precious metals IRA. We've highlighted the annual fee schedules and policies for each of the top ten custodians within these reviews.

 
Before you use your IRA to buy something, make sure it is approved. Some things that are not approved for IRAs are good investments, but they are not best for an IRA because they do not qualify.

Compare Overall Reputation and Industry Presence

You will see in our comparison of the top Gold IRA companies that we mention other ratings. We do not mention these when we discuss the reputation of the company's custodian. Information on each of the best custodian's fee schedules and policies can be found in the chart.


There is a good reason for this. IRA custodians do not work with consumers directly, so they do not have listings or ratings on directories like Yelp, BBB, Yellow Pages, etc. Instead of that, they partner with brokers, dealers, and Gold IRA firms.


Suppose an investor has an account with Equity Institutional, and they opened that account through Regal Assets. In that case, people who buy the assets will be leaving a review for Regal Assets. They will not leave a review for Equity Institutional because their IRA is not held by Equity Institutional. More than 500 reviews have been left on Trustlink.


A good way to find out about the reputation of a custodian is by looking at how long they've been in business, how many accounts and clients they have, which Gold IRA companies they're partnered with, and other more traditional ways of verifying the credibility of a business.

Consider Presentation, Support, and Site Design

An IRA custodian is an organization that helps you save money for your retirement. You will want to find an IRA custodian who has a good website and design. The website should be easy to locate and have clear information about fees, offerings, and the management staff. Equity Institutional is a good company. They have a website that is easy to use and looks nice. You can find out how they started, who is in charge, and their fee policies on their website.

Find the Most Cost-Effective Route

Custodians usually work with these other companies. These companies are called bullion dealers, brokers, financial planners/advisors, and investment firms. There are some brokers who will take care of the custodian fees for you if you set up an account through them. Some banks will charge you to set up your account and keep it for a long time. But there are others that do not.


Conclusion

A good way to start investing is by opening an IRA. It’s important that you know what type of company you want your custodian to be before choosing one.


The right IRA company can have a significant impact on your retirement. Whether you're new to investing or an experienced pro, it pays off in the long run to choose the best possible investment for yourself and what's most important: trustworthiness of storage policies/fees, customer service track record.

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