Are Silver Krugerrands IRA Eligible?

The Internal Revenue Service imposes stringent rules when it comes to choosing silver bullion coins to include in an IRA account, only high purity pieces produced at recognized government mints qualify as eligible investments.

Investment in precious metals through an Individual Retirement Account offers numerous advantages. Diversifying your retirement portfolio while protecting against economic instability are among them.

Purity

In 2017, South African Gold Krugerrand became available in 1 oz silver format, expanding on its tradition of long-term value and offering investors more security over price volatility. While gold Krugerrand coins feature an IRA-approved fineness level for safe investing.

For eligibility in an IRA, all silver coins and bars must meet the IRS minimum fineness requirements of 0.999 fineness, meaning they were produced from an accredited precious metals manufacturer and refined or assayed by an LBMA or ASE approved refiner or assayer.

As in its gold counterpart, the silver Krugerrand also bears a likeness of Paul Kruger, third president of the Boer Republic from 1883 to 1900. On its reverse is stamped the national symbol of South Africa – a Springbok antelope with year and weight stamped either side for added durability. Each coin is also produced according to stringent quality control standards with edges being reeded to ensure lasting beauty.

Weight

Silver Krugerrands contain 1 troy ounce of investment-grade 999 fine silver that meets IRS requirements for inclusion in an IRA account.

On its reverse, this coin features an elegant depiction of South Africa’s national animal: springbok antelope. Additionally, mint year and silver weight information is featured here.

On the obverse is featured a portrait of President Paul Kruger, third president of South African Republic from 1883 to 1900. Surrounding him are both Afrikaans and English spellings of “Suid-Afrika.”

Although the gold Krugerrand coin has been available since 1967, South African Mint’s Silver Krugerrand was only released to circulation this year with lower premiums available to investors looking for another high-quality bullion asset to add to their precious metals portfolio. For IRA eligibility reasons, all sources must be accredited by NYMEX/COMEX, LME, LBMA or ISO.

Design

The silver Krugerrand closely resembles its gold counterpart in terms of design. The coin was named in honor of former President Paul Kruger, whose likeness appears on its obverse alongside country of origin information and country flag. Furthermore, Krugerrand is also comprised of his initials combined with South African currency called rand.

On its reverse, this coin displays South Africa’s national animal: a springbok antelope. This design element is surrounded by insignia including weight and purity inscriptions as well as mint year and silver bullion designation details at its bottom edge of design field.

The Silver Krugerrand is one of the world’s most beloved bullion coins, beloved by both investors and collectors for its IRA-eligible silver content. Scottsdale Bullion & Coin provides both Bulk Uncirculated (BU) and Proof Silver Krugerrands in 1-ounce sizes: BUs are packaged individually while Proofs come packaged as sets of 500 in Monster boxes.

Value

The 1 oz silver Krugerrand coin is an ideal way to diversify a self-directed retirement account with precious metals. Boasting an exquisite silver composition and iconic design that have become trusted symbols of purity for over fifty years, its price among other sovereign bullion coins makes it highly cost-competitive while being eligible for an IRA account.

When buying silver IRAs, it’s essential that you select a reputable precious metals dealer. Look for one who provides detailed specifications and certifications on its products so that you can make an informed buying decision.

Launched in 2017 as an addition to the Gold Krugerrand, the 1 oz Silver Krugerrand boasts an eye-catching design of South Africa’s national animal, the springbok antelope, bounding across its landscape. While its gold counterpart offers collector/numismatic value, this coin strictly bullion and makes for a fantastic investment or collectible piece. On its obverse lies Paul Kruger’s portrait – former president of South Africa!