How to Buy Silver

Delivery of Silver Coins and Bars
Some U.S. based clients prefer personal possession of their silver coins and bars these clients take delivery of their silver bullion. Popular silver bullion products we deliver throughout the U.S. range from the American Silver Eagles (1 ounce) and Canadian Silver Maple Leaves (1 ounce), through to 100 ounce silver bars and up to the 1000 ounce industry standard silver bar.

It is essential to ensure that you have adequate insurance and have a secure place to store, if taking delivery of your silver.

GoldCore Secure Storage – Allocated and Segregated Coins and Bars
GoldCore Secure Storage enables U.S. clients who do not wish to take personal possession of their silver to store it in GoldCore’s secure vaults in the safest jurisdictions in the world. GoldCore utilises the precious metals storage facilities of industry-leading suppliers Via Mat International and Brink’s.

Precious metals held by GoldCore on behalf of GoldCore clients remain the property of the client, we simply act as your custodian under a bailment system.

Clients who wish to visit the vault where their silver is being stored are welcome to do so, by prior arrangement and in the company of a GoldCore representative. Clients who wish to pick-up their silver from where it is being held are free to do so.

It is important to be aware that you do not have to buy bullion from Goldcore to avail of our secure precious metals storage facilities. Existing owners of bullion can simply transfer their bullion from private possession or existing storage to the ultra safe GoldCore Secure Storage.

Steps:

  1. Research the silver market, the recent and long term price ranges, the history of silver as money and a safe haven. Also research your purchase and the preferred product format, coins or bars or a combination of the two. It is important that you familiarise yourself with the various options involved and to do due diligence on the potential companies that you are considering buying from.
  2. For purchases through GoldCore, go to www.GoldCore.com, create your own secure online account with your own highly secure login and password, and then after following the account funding steps. You can then buy silver bullion coins and bars for home delivery.
  3. Alternatively, call GoldCore’s Bullion Services Team for advice and a quotation.
  4. When you are happy to proceed, simply transfer the required funds to your GoldCore dollar or other currency account. You will receive an acknowledgement and receipt from us, stating that we have received your funds. Thereafter, you can make your online purchase. If you are not transacting online, then one of our bullion services team will call you to discuss your order and ensure that you are happy to proceed to the order stage of your quote.
  5. Funds lodged into your GoldCore account remain yours until you agree to proceed to the purchase stage. Up until the purchase transaction is executed, your funds remain in a segregated client funds account and you can have your funds returned to you, if you wish.

Perth Mint – Pool Allocated Silver Certificates

The Perth Mint Certificate Program (PMCP) offers U.S. investors a unique range of precious metal storage facilities on internationally competitive terms.

The Perth Mint’s Pool Allocated Silver Certificate Program is 100% backed by specific bars of silver held in Perth Mint’s vaults. A list detailing the weights and serial numbers of these silver bars is published daily on the Perth Mint corporate website along with the total number of pooled bars held on behalf of clients. All silver bars listed as pool allocated meet LBMA good delivery standards and consist of 1000 ounce bars with 999 fineness.

The storage cost for pool allocated silver is 0.95% per annum. Customers pay the quoted silver value and initial storage fee at the time of purchase and then ongoing storage fees are charged.

Perth Mint pooled silver is fully insured, and the insurance is underwritten by specialist insurers.

Silver for Corporates
Companies in the U.S. can avail of GoldCore’s complete suite of products to purchase silver coin and bars and store the coins and bars in GoldCore partner vaults at our secure international storage locations.

Alternatively, you can invest in silver through the Perth Mint Certificate Programme (PMCP).

The application process is simple. Please contact the Bullion Services Team to discuss your options.

Adding Silver to a Self-Administered Pension Plan
In the U.S., investment silver can be added to certain Individual Retirement Accounts (IRAs) and Self Directed 401ks (Solo 401k). In practice, this is achieved by using special precious metals IRAs and specific Solo 401ks that are set up to include precious metals.

The rules on precious metals eligibility are governed by IRS tax rules, which allow certain precious metals coins and bars as eligible investments. This includes gold, silver, and platinum coins issued by the U.S. Mint, precious metals coins issued by other countries, and additionally, gold, silver, platinum and palladium bullion of investment grade quality.

Investment grade quality means 995 fine for gold, 999 fine for silver and 9995 pure for platinum and palladium, produced by refineries approved by the Comex as well as any refinery approved by other industry bodies such as the London Bullion Market Association (LBMA). The bullion has to be of a ‘fineness’ equal to or greater than the fineness specified by the U.S. commodity exchanges.

A number of specialist IRA providers offer what is known as a precious metals IRA, or gold IRA that facilitate investment into precious metals. These providers will be well versed in IRS rules on investing in precious metals, and usually offer both trustee and administration services, as well as organizing precious metal storage at a number of well-known precious metals depositories in the country.

Solo 401ks can also invest in precious metals, but since the individual plan holder is the trustee of the plan, the self-directed solo 401k can only invest in the silver, gold, and platinum American Eagle coins specified in the first part of IRS section 408(m) of excluded collectibles.

This is because other precious metals bullion has to be in physical possession of a trustee, which is either a qualified provider or a bank.