Lear Capital Is Among Many Firms To Show How To Buy A Silver IRA

Lear capital ira

The Internal Revenue Service regulations only disallow specific investments, including collectibles and life insurance.

Self-directed IRAs are designated to include physical assets, including precious metals like silver, for an added layer of flexibility. Take this link to learn about self-directed IRAs.

It’s essential to make yourself aware of the stringent guidelines on “collectibles” since these include silver coins.


The IRS permits specific coins and bars with value based on the metal content. Their code standards further apply to purchasing and storage of precious metals.

Lear Capital Is One Of Many Firms To Show How To Purchase Physical Silver in a Self-Directed Retirement Account

Numerous firms specialize in self-directed Individual Retirement Accounts. Still, it’s up to the investor’s due diligence in researching to find the trusted, experienced options like Lear Capital from those that aren’t legit.

How do you know is Lear legit or not? The firm has been working with clients for over 20 years in a locally owned and operated facility, answering all inquiries with knowledge gained over this great time span in the industry.

Few can match their length of service, skills, and expertise. Theirs is a company that will give you the information you need to make educated decisions for your specific situation.

Scamming companies have little concern with the client’s best interest. That’s a priority with reputable businesses.

The account provider you choose will often assume custodial duties also, meaning they’ll help you with the purchase and then handle responsibilities for the physical metal IRA, providing you with recommendations for storage in an IRS-approved depository.

Ultimately with a “self-directed” account, the owner (you) instead of the custodian will be responsible for choosing your investments and following the IRS regulations.

That makes it essential to speak with your tax advisor or financial consultant to familiarize yourself with this information.

Storage With An IRS-Approved Depository

Lear Capital or the firm you choose for your custodian will give you options for storage with an IRS-approved depository for storing your physical silver IRA.

As IRS code dictates, you cannot assume physical custody of the metal you purchase in an IRA, nor can your account custodian.

Usually, the provider or firm that you choose specializes in self-directed IRAs backed by precious metals.

The company will have approved depositories they tend to work with whom the business can generally make arrangements or at the very least recommend one for you.

Lear ira

Instructions On Handling Your Self Directed IRA

The first step is registering for the account with the provider or firm with whom you choose to open your self-directed IRA.

From that point, you need to direct the custodian to use funds contributed to the IRA to purchase the silver of your choice.

The IRS regulations disallow depositing investment assets into your self-directed account. That will mean you cannot buy the silver yourself. You need first to make the cash deposit and let the custodian handle the actual transaction.

Your choice of silver bullion is also something that the IRS can dictate. The options for physical silver include Austrian Philharmonic, American Eagle, and Canadian Maple Leaf coins.

You also have the option of purchasing bars with the IRA but, again, only those that meet IRS purity standards.

Final Thought

The primary component of opening a self-directed individual retirement account is selecting a company specializing in these species to help you through the process.

Go to https://investingingold.com/self-directed-ira/ for the fundamentals on self-directed accounts.

In the ideal scenario, the firm you choose will serve in the capacity of the custodian as well, saving complications, confusion, and time and effort in researching for two separate facilities.

In any case, the custodian, dealer, and depository will work cohesively to develop your account, assist with purchasing the chosen silver options, and help select an IRS-approved depository for storage.

The custodian handles the funds you release for the purchase, and the dealer takes care of shipping the physical silver to the depository.

Precious metal self-directed IRAs usually make sense for individuals with an already robust existing portfolio, but you want to diversify the holdings with a small percentage of physical metal.

The suggestion is not to over-inundate your portfolio with precious metals. While they are stable and give you a sound footing, they don’t mean to carry the whole load.

A conservative investment of perhaps 5 to 10% is the suggestion when adding a physical silver-backed self-directed IRA account.

While these hold value well and have throughout history, the overall performance lags compared to that of other classes of assets like stocks.

For those who want their retirement to progress aggressively, a portfolio filled with physical silver or other metals will merely shortchange the effort. There has to be an adequate balance.