IRA Approved Precious Metals

Which Precious Metals products are approved for IRAs?

Precious Metals IRA’s require specific gold, silver, platinum and palladium be held. The IRS has approved select coins and bars for Individual Retirement Accounts (IRA). Coins are a great option because the denominations are smaller and can be liquidated easier. gold bars on the other hand, carry a higher price, can’t be parted out, can be more difficult to transport due to weight, and have been subject to counterfeiting. If you purchase your gold through a reputable dealer, counterfeiting won’t be a problem. However, certain gold IRA companies have been known to push certain ‘historic’ coins in gold IRAs due to their intrinsic collectable value. It is very important to avoid buying these collectable, known as numismatic, coins for inclusion in a gold IRA. Numismatics are not IRS approved for inclusion in your precious metals IRA. Numismatic coins allow the gold company who is pushing them, to take higher commissions.Basically, it’s in there best interest to line their pockets, not yours. Bullion coins and bars more directly reflect the spot price of the precious metal.The IRS has a list of approved metals to regulate the market and protect precious metals IRA holders. These metals are considered industry standard and are easily valued for there metal content/weight, not their perceived value based on rarity. This enables quick liquidation of your metals due to their regulated pricing and recognizable minting origin.  Stick with bullion and avoid numismatics.


The IRS requires that gold and the other metals meet the following standards of ‘purity’ and ‘fineness’:

  • Gold .995%
  • Silver .999%
  • Platinum .9995%
  • Palladium .9995%

Here are Some IRA Precious Metals Approved by the IRS:


IRA Approved Metals List

Gold

  • American Gold Eagle bullion coins
  • American Gold Eagle proof coins
  • Canadian Gold Maple Leaf coins
  • Austrian Gold Philharmonic coins
  • Australian Kangaroo/Nugget coins
  • Chinese Gold Panda coins
  • American Gold Buffalo uncirculated coins (proofs not allowed)
  • Gold bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements

Silver

  • American Silver Eagle bullion coins
  • American Silver Eagle proof coins
  • Canadian Silver Maple Leaf coins
  • Austrian Silver Philharmonic coins
  • Australian Silver Kookaburra coins
  • Chinese Silver Panda coins
  • Mexican Libertad coins
  • Silver bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements

Platinum

  • American Platinum Eagle coins
  • American Platinum Eagle proof coins
  • Canadian Platinum Maple Leaf coins
  • Isle of Man Noble coins
  • Australian Platinum Koala coins
  • Platinum bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements

Palladium

  • Canadian Palladium Maple Leaf coins
  • Palladium bars and rounds produced by a NYMEX or COMEX-approved refinery or national government mint, meeting minimum fineness requirements