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Can you hold silver bullion in your SMSF?

Can you hold silver bullion in your SMSF?

Posted on October 27, 2021October 27, 2021 by Beth

Do you own an SMSF and thinking of diversifying your portfolio for maximum growth? You can invest in silver as part of your investment strategy. Some analysts recommend holding who believe that allocation 10-20% of your investment portfolio towards silver. Every Australian investor or member of a superannuation fund should consider including silver in their portfolio however to preserve their wealth in tough economic times. However, how much risk you are willing to take with your investments will depend on your age, circumstance, and the size of the amount you have in the fund. If you are younger and have more years ahead of you or you are growth-driven investor and you are in it for the long haul, you can split the allocation of precious metals with 70% silver and 30% gold. However, there are a couple of rules you need to adhere to as you buy SMSF silver for your super. 

Silver coins may be regarded as “collectibles” whilst most bullion coins will be regarded as investment assets. Collectibles have their own special restrictions and regulations you need to adhere to. For instance, you cannot show these coins off at your home but need to store them in a secure place like a precious metal vault or a bank’s safe deposit box. All your 

The Australian Tax Office will require evidence of records of everything your SMSF has invested in. That means you need to keep the receipts and all the other documentation concerning the coins safely. This documentation will be reviewed during the yearly audit process that is required. The rules around safety and security are especially important which is why a lot of fund trustees keep their precious metal holdings like silver at a mint or gold dealer that will always be able to provide proof of its existence in the June 30 audit and holding statement. 

You need to be careful when it comes to storage providers. Reputable Mints like Perth mint and bullion dealers with private vaults and approved distributors can make buying, selling, storing, and insurance and the valuation of your silver bullion can make things easy for you. They will provide you with the appropriate documentation that will be helpful when you buy SMSF silver and have to prepare for the mandatory yearly independent.  

Melbourne Gold Company is one of its approved distributors who are located across Australia can take care of purchasing, sale, storage, insurance, and valuation of your SMSFs silver bullion and give you the relevant documentation that is crucial in the preparation of your mandatory yearly independent audit. Investors are attracted to precious metals like silver and gold because they act as protective assets or a store of wealth in uncertain times. The problem that SMSF members might have to do with the fact that silver and gold do not generate an income or dividends that might cover pension payments. Fund members can only follow the ups and downs of the silver prices if they want to liquidate that investment. This can be tricky due to the volatile nature of the silver market.

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