What Kind of Precious Metals Can I Hold in a Gold IRA?

blogImagePrecious metals IRAs are governed by strict IRS rules limiting the forms of gold, silver, platinum, and palladium that may be held in a retirement account.

The two most prominent rules likely to affect average investors are the ones regarding fineness and collectible status. Specifically, the IRS stipulates that gold coins held in IRAs must be 99.99% fine, while gold bars must be 99% fine. And the term “collectible” is most frequently applied by the IRS to rare coins whose scarcity value adds to their bullion value.

So taking these prohibitions into consideration, what kind of precious metals can you hold in an IRA? Here is a brief guide of the popular products:

Gold

  • Bars, rounds, and coins meeting minimum fineness (typically .995) and manufacturing standards
  • American Eagle gold bullion coins and American Eagle gold
  • American Buffalo bullion coins
  • Canadian Maple Leaf bullion coins
  • Austrian Philharmonic bullion coins
  • British Britannia bullion coins (.9999)
  • Australian Kangaroo/Nugget bullion coins
  • Chinese Gold Panda coins

Silver

  • Bars, rounds, and coins meeting minimum fineness (.999) and manufacturing standards
  • America the Beautiful bullion coins
  • American Eagle silver bullion coins and proofs
  • Canadian Maple Leaf bullion coins
  • Australian Kookaburra bullion coins
  • Mexican Libertad bullion coins
  • Austrian Philharmonic bullion coins
  • British Britannia bullion coins (.9999)
  • Chinese Silver Panda coins

Platinum

  • Bars, rounds, and coins meeting minimum fineness (.9995) and manufacturing standards
  • American Eagle Platinum bullion coins and proofs
  • Australian Koala bullion coins
  • Canadian Maple Leaf bullion coins

Palladium

  • Bars, rounds, and coins meeting minimum fineness (.9995) and manufacturing standards
  • Canadian Maple Leaf bullion coins

In addition to regulations pertaining to the kinds of precious metals eligible for IRA accounts, the IRS also has strict rules about custody of physical gold, silver, platinum, and palladium. To avoid tax penalties, all precious metals purchased for an IRA must be sent directly to an approved depository until the IRS-defined retirement age is reached and distributions of the physical bullion can begin.

Now that you know what kinds and forms of precious metals are approved for IRAs, you can start choosing the particular coins or bars you’d like to add to your own account. Contact American Bullion today for assistance with these transactions or for a consultation with one of our precious metals experts.

Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.