Investing in precious metals has been regarded for a long time as the best way to secure and diversify ones investable assets, and this is why many people are constantly looking for the best place to buy silver. Since precious metals like silver are accepted world over as valuable commodities that fetch high prices even during times of economic turmoil, it is no wonder more and more people are investing in these metals to hedge off rising costs of living. Statics show that despite the 2008 world economic recession, silver prices for instance were at an all time high. Prospects for silver and other precious metals keep indicating a positive outlook owing to the upward trend that these commodities have had in the past. It is important to point out that the high purchasing power of silver and other precious metals along with the highly anticipated appreciation in value in a few years from now is as a result of the ever diminishing mineral reserves that are getting exhausted and thus limited supply and increasing demand. With such impressive investment potential, it is quite obvious that buying silver bullion, coins, bars, rounds, etc. may be a great way to weather economic hardships and more specifically during times of unbearable inflation. The big question however is how do you best buy and own silver? Well, with a self directed precious metal IRA you can invest in precious metals and start stocking your retirement returns with precious metals that could potential increase in value to more than what they are currently worth as time goes by. At the time of this writing, silver fetched over $30.00 per once, and it is expected to rise even higher as more and more people continue invest in this scarce yet highly valuable commodity. So if you have an existing IRA or an old 401k retirement account, maybe you should roll over to precious metals such as silver? However before you embark on buying silver with a precious metal IRA , there are a few regulations regarding the purchasing, storage and even ownership of physical silver that you should be aware of... Current regulations on buying silver with an IRA Prior to investing in silver, the first step that we have highlighted is of course to open a precious metal individual retirement account. Although there are many individual precious metal broker sites that are available online where you could buy silver coins or bars, keep in mind that there is also the potential risk of being duped by scammers, therefore buying silver with a registered IRA via a trusted precious metal company is the most advisable thing to do. As far as regulations for purchasing silver is concerned, there are some standards imposed by the IRS regarding precious metal assets that are eligible for investment an IRA. It is therefore important that you get to have some prior knowledge of which kinds of silver bars or coins are best to buy. Silver bullion has a lower premium than silver coins in addition to having a high standard of purity. Silver coins on the other hand despite carrying higher premiums must be having a purity rate of 99.5% to qualify for investment in an IRA as per the IRS. Coins such as the Silver Eagle and Silver Maple Leaf are among the few silver rounds that fall in this category, and they fetch high premiums to the commodity price of the metal itself. It is important to note that despite owning precious metals, investors actually have to abide to some regulations pertaining to storage and actual possession of silver bars and bullions. The IRS restricts actual possession of physical silver by the individual IRA account holder or the account custodian and instead requires a certified depository to keep the precious metal on your behalf. Well this might be as a result of security reasons, but keep in mind that it is a requirement that has to be adhered to. Lastly, the IRS requires that investable silver assets that can be put away in you IRA account should be purchased with the balance that you have in your account. This means that you cannot deposit silver assets that you already own into your IRA account without involving the funds you have in your account. To take care of the formal transactions that have to be done before you actually purchase silver, you can hire a custodian to do that for you. Always remember though that in order to get the best liquidity and better sell-back options, stick with well reputed and globally respected precious metal dealers like Regal Assets , for example.