Silver IRA Guide: Rules, Costs and Top Companies

A silver IRA is a self-directed IRA that holds physical silver coins or bars instead of stocks and funds. Legally it is the same kind of account as a gold IRA - in fact most "precious metals IRAs" can hold gold, silver, platinum and palladium together. The usual players are the same too: a custodian that administers the account, a dealer that sells you the metal, and an approved depository that stores it.

It can be a traditional or Roth IRA, and you can usually fund it with a tax-free direct rollover from a 401(k), IRA or TSP. See our 401(k) rollover guide.

Under IRC 408(m), collectibles bought in an IRA are treated as distributions, so only certain silver is allowed. Silver generally must be at least .999 fine (99.9% pure).

• Commonly eligible: the American Silver Eagle, and silver bars from accredited refiners that meet the purity standard.
• Not eligible: most proof or numismatic "rare" coins, collectible sets and anything below the purity standard.

Always confirm eligibility with your custodian before buying. Our IRA-eligible precious metals guide has the full rules for all four metals.

Like gold, IRA silver must be held by a qualified custodian in an approved depository - not at home. The Tax Court treated home-stored IRA metal as a taxable distribution in McNulty v. Commissioner (2021). Details in can you store IRA gold at home?

You will usually choose between pooled (non-segregated) storage, where your silver is held with other customers' identical items, and segregated storage, where your exact pieces are kept apart - usually for a higher fee. Common depositories include the Delaware Depository and Brink's

Yearly costs are broadly similar to a gold IRA - typically flat fees in the $175-$300 a year range. A few published examples (third-party snapshots, October 2026):

• One online dealer that publishes its prices lists about $50 setup, $125 a year maintenance, plus $100 pooled or $150 segregated storage (Bankrate, 2025).
• Among the companies we rank, American Hartford Gold is reported at about $230 to apply plus $225 a year (pooled) or $275 (segregated); Goldco and Augusta are reported in a similar range. American Gold and Silver Group does not publish its fees - ask for a written quote.

As with gold, the bigger cost is often the dealer markup on the metal and the buyback spread when you sell. Ask for both in writing. Because silver is much cheaper per ounce than gold, the same dollar amount buys far more metal by weight, so check how your depository prices storage. See gold IRA fees explained and try our fee calculator.

• Price swings. Silver prices can move sharply, and historically silver has tended to be more volatile than gold.
• No income. Like gold, silver pays no interest or dividends, which matters once RMDs begin at age 73.
• Markups and spreads. Premium or proof silver coins can carry large markups. Stick to plain bullion that qualifies and compare prices.
• "Free silver" promotions. Bonus silver offers are common. They can be genuine value, but compare the total price you pay, not the size of the bonus. Our red flags guide explains why.

All four companies in our rankings offer silver as well as gold for IRAs:

• Goldco - known for promotions of up to 10% back in free silver on qualifying purchases; minimum reported around $25,000.
• American Hartford Gold - $10,000 minimum, with advertised silver bonuses and fee waivers on larger accounts and an advertised buyback with no liquidation fee.
• American Gold and Silver Group - advertises up to $15,000 in free silver and no buyback fees; fees and minimums are not published, so ask for a written quote.
• Augusta Precious Metals - education-focused with a $50,000 minimum, better suited to larger accounts.

To compare two side by side, see American Hartford Gold vs Goldco.

Fees, minimums and promotions change often. Confirm current terms with each company before you open an account.

Many investors hold both metals in one precious metals IRA, which means one set of account and storage fees rather than two. Others prefer gold alone because it is more compact to store and has historically been less volatile. There is no single right answer - read how much of your retirement should be in gold for the main considerations.

Compare silver and gold IRA providers side by side in our rankings.

This article is general information, not financial, tax or legal advice. Fees, minimums and promotions change often and vary by custodian and account size - confirm current terms in writing with the company and your custodian before you invest.