Who should I use for my Silver IRA?

[JesterJay]

I am contemplating converting an IRA I have into Silver.
Please kind folk of Silverseek.com Forums, who or what is the best way to do such a thing. Or do I need to take the paranoid genius tact and liquidate to buy the real thing.
I love silver bars and coins,
:jester: Jay

[goldminer]

I can't speak to what's best for you or anybody else but can tell you:

1. Silver IRA = a paper promise.

2. A silver IRA holder can never take possession of the silver they supposedly own in the IRA, only the current value in FRNs....which continue to lose value every month.

Your call.

[Prospector]

I don't know much about that stuff, but I've heard that you can borrow from the IRA at low interest. You mention "liquidate", so I guess you know what I'm talking about. Anyway, if you want silver you should get actual metal, cash and carry, and hold it in your hot little hands. That's just a figure of speech, what I mean is hide it at home. Don't buy paper promises, don't even let a banker put it in his vault or safe deposit box. If you let it out of your grasp, you are relying on some stranger to give it back when you want it. That business is famous for broken promises and hoodwinks. Swap your FRNs for real money, take it home, and hide it.

[JesterJay]

Thanks both of you for your opinions.

My father has shown me some of the writings of a guy named Butler and convinced me to buy silver. REAL Ag, not the "paper promises of Prosperity". All Pish-posh. I've got the real stuff under my mattress. And I sleep quite well that way.

My crux is the burden of "liberating" an IRA I have that I would prefer to see in silver, not stocks as it currently is not performing to my satisfaction. The temptation to cash in at whatever cost is going to win me over. I can just tell. "HOLD the real thing", Dad says. Don't believe promises of those who hold out one hand to shake and the other to take.

And don't take any wooden nickels. That was Gramma who said that. And she has been gone from us for 14 years. Guess good advice is always good.

Now to pull the trigger and explain to the wife,
JesterJay
And I am still in South Dakota!


I don't know much about that stuff, but I've heard that you can borrow from the IRA at low interest. You mention "liquidate", so I guess you know what I'm talking about. Anyway, if you want silver you should get actual metal, cash and carry, and hold it in your hot little hands. That's just a figure of speech, what I mean is hide it at home. Don't buy paper promises, don't even let a banker put it in his vault or safe deposit box. If you let it out of your grasp, you are relying on some stranger to give it back when you want it. That business is famous for broken promises and hoodwinks. Swap your FRNs for real money, take it home, and hide it.

[JesterJay]

Well,
I did it. The check is in the mail. See my other thread asking for specifics about what to buy. Now I really need to know. My current holdings amount to whatever caught my fancy when I had a bit of $$$ to put into silver. Eagles, Mapleafs, Prospectors, odd rounds, 1, 5, 10 ounce bars, odd older pour bars, some 90% junk, and even a 100 ounce bar (how boring).
The addition of this sum will almost quadruple my Silver holdings.
Please check my other thread and chime in. I want as many ideas as there are out there. Feel free to be creative.
High, Ho Silver!
JesterJay



..."liberating" an IRA I have that I would prefer to see in silver, not stocks as it currently is not performing to my satisfaction. The temptation to cash in at whatever cost is going to win me over. I can just tell.
Now to pull the trigger and explain to the wife,
JesterJay
And I am still in South Dakota!

[ADUB]

I have a Precious Metals (self-directed) IRA. In my opinion, you will not hold Silver forever. You will sell it when you want, and go to the next investment. Just like realestate...you sell when you want to move to bigger and better things. In the self directed IRAs, you buy actual buillon, and it is stored. When you want to sell it, sell it, get your cash in your account, and buy your next investment beit realstate, stocks, land, whatever. Nothing lasts forever and everything, including precious metals will have their bull cycles and bearish cycles. Just have an entry and exit point!

[JesterJay]

Paper promises will not last long. I repeat at the risk of being repetitiously reduntant and just plain obnoxious, "If you Ain't holding real silver, You AINT got IT!"
What makes me say this. Delivery time. 2-3 weeks to get silver out of a "backed by silver" account. Hmmm. Sounds like someone had to go buy silver to deliver it.
Don't say I did not warn you. Read EVERYTHING in the Ted Butler archives and become a believer in the magic metal: SiLvEr!
Regards,
Jay


I have a Precious Metals (self-directed) IRA. In my opinion, you will not hold Silver forever. You will sell it when you want, and go to the next investment. Just like realestate...you sell when you want to move to bigger and better things. In the self directed IRAs, you buy actual buillon, and it is stored. When you want to sell it, sell it, get your cash in your account, and buy your next investment beit realstate, stocks, land, whatever. Nothing lasts forever and everything, including precious metals will have their bull cycles and bearish cycles. Just have an entry and exit point!

[macho trader]

I have a Precious Metals (self-directed) IRA. In my opinion, you will not hold Silver forever. You will sell it when you want, and go to the next investment. Just like realestate...you sell when you want to move to bigger and better things. In the self directed IRAs, you buy actual buillon, and it is stored. When you want to sell it, sell it, get your cash in your account, and buy your next investment beit realstate, stocks, land, whatever. Nothing lasts forever and everything, including precious metals will have their bull cycles and bearish cycles. Just have an entry and exit point!

Here Here, i agree 100%

[samsung82]

What you should do is put your money with a broker like a schwab or fidelity and put your IRA money in SLV or DBS these are ETF's for silver. That way you don't have to hide the stuff or store it. And if the silver market goes away you can just sell your shares and not have to worry about trying to find someone that will buy a silver bar or coins.

[chux03]

Rumor has it that Barclay's silver ETF, SLV has been doing some shananigans in regards to storing silver. It could be ripe with fraud, from what the author here points out. I read about it on the website:

www.goldenjackass.com