IRS-Approved Coins And Bars For A Gold IRA

Commonly Accepted Examples

• American Gold Eagle and American Silver Eagle coins
• Canadian Gold and Silver Maple Leaf coins
• Gold and silver bars meeting purity rules and made by accredited refiners

Eligibility depends on purity and, for bars, the manufacturer. Your custodian has the final say.

Often Not Eligible

• Rare or collectible (numismatic) coins, generally treated as collectibles
• Jewelry
• Some well-known coins, such as the South African Krugerrand, are commonly cited as ineligible. Check before buying.

Before You Buy

1. Get the product name and specifications in writing.
2. Ask your custodian to confirm eligibility.
3. Compare the spread across products. See costs.

See the IRS rules and red flags, since rare-coin upsells are a common problem.

Commonly Accepted Products

The list below shows products often accepted by custodians. Eligibility is determined by fineness and by law, and each custodian has its own approved list, so treat this as a guide and not a guarantee.

Bars

Bars qualify when they meet the required fineness and come from an accredited refiner. Bars often carry lower premiums than coins, but they are less recognizable when you sell. Ask for the refiner's name and confirm that your custodian accepts it.

Collectibles To Avoid

• Rare or numismatic coins priced for rarity.
• Proof and special-edition coins sold at high premiums.
• Jewelry and medallions.

If a dealer recommends these for your IRA, ask why, and ask your custodian whether they qualify at all. See red flags.

A Pre-Purchase Checklist

1. Get the product name, year, and quantity in writing.
2. Ask for the price per unit and the market value.
3. Have your custodian confirm eligibility.
4. Ask what buyback pays for this exact product.

Sources And Further Reading

• 26 U.S. Code Section 408 (Individual Retirement Accounts)
• IRS Publication 590-A: Contributions to Individual Retirement Arrangements

How Fineness Is Written

Fineness is the share of a metal that is pure. A fineness of 0.999 means 99.9% pure, which dealers sometimes call 'three nines'. Gold sold in jewelry is usually far less pure, which is one reason jewelry does not qualify.

Bullion Versus Proof Versions

The same coin can come as plain bullion or as a proof version with a mirror finish, which is sold at a premium to collectors. A proof coin may be harder to justify in an IRA because you pay for something the account does not need. Ask which version you are being quoted.