I’ve been thinking about diversifying my investment portfolio for sometime; according to my financial advisor and retirement planner, this is a good idea for everyone, but is especially recommended in times of fiscal and political insecurity on a national level and also on an international level. After doing some research, I’m thinking that I want to purchase some silver US coins. Specifically, I want to purchase some silver bullion United States coins that I can use as part of a silver individual retirement account (IRA).
In order for coins to be included in a silver IRA, they need to be silver bullion and they need to have been minted in the U.S. After doing some reading at the US Mint website – http://www.usmint.gov – it turns out that only the American Eagle Silver Bullion Coins are allowed in a silver IRA. These silver US coins – the American Eagle Silver Bullion Coins – “contain a minimum of one troy ounce of 99.9% pure silver.”
Now, I’ve also been thinking about buying some other silver US coins, as part of my overall investment strategy, not just for a silver IRA, and the U.S. Mint offers a collection called “American the Beautiful” which are five ounce silver US coins that commemorate national parks. According to the Mint’s website, “these coins are made of .999 fine silver, have a diameter of three inches and weigh five ounces.” That means they weigh more and have more silver than the American Eagle Silver Bullion coins!
The Mint also produces silver commemorative coins in the form of silver dollars, and there are historic silver US coins, too, some of which are only valued for their melt value (how much silver they contain) and others that appeal to collectors because of historic value, rarity, and condition. And then there are the coins that are only 90% silver, such as the Peace Dollars, the Morgan Dollars, Washington Quarters, Roosevelt Dimes, and Jefferson Nickels.
Are silver US coins a good investment? I think so, especially if you keep in mind what kind of coins you are buying and why you are buying them in the first place. If you’re looking at diversifying your portfolio or starting a silver IRA, then the American Eagle Silver Bullion Coins are the way to go. If, on the other hand, you are looking to build a silver coin collection, there are plenty of silver US coins that can – and should – be included in that collection.
American Eagle Silver Bullion Coins images: http://www.usmint.gov/mint_programs/american_eagles/?action=american_eagle_silver_proof
America the Beautiful coin images: http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=16564&langId=-1&parent_category_rn=48501
Silver Jefferson Nickels images: