Precious Metals Allowed in an IRA

Precious Metals Gold Bullion Bars Coins

In regards to a precious metals IRA, it is not so easy to invest in any type of coin or collectible. The Internal Revenue Service (IRS) announced strict rules pertaining to what types of precious metals are allowed in an IRA. As a matter of fact, many common gold bullion coins and gold bullion bars are not eligible for gold investing in an IRA due to the fact that they do not meet the purity prerequisites set by the IRS. The purity grade has to be at least 0.995 for gold, at least 0.999 for silver, at least 0.9995 for platinum and at least 0.9995 for palladium.

Listed below are the precious metals (gold, silver, platinum and palladium coins and bars) that you can safely invest for your retirement plans:

IRA Approved Gold Bullion Coins and Bars

(.995%+ Purity Level Required)

American Gold Eagle coins

American Gold Buffalo coins

Australian Gold Kangaroo/Nugget coins

Austrian Gold Philharmonic coins

Canadian Gold Maple Leaf coins

Credit Suisse Gold Bars

Johnson Matthey Gold Bar

Valcambi Gold CombiBar

IRA Approved Silver Coins and Bars

(.999%+ Purity Level)

American Silver Eagle Coins

Australian Kookaburra Silver coins

Austrian Philharmonic Silver coins

Canadian Silver Maple Leaf coins

Mexican Silver Libertad coins

Johnson Matthey Silver Bar

Royal Canadian Mint Silver Bar[/alert]

IRA Approved Platinum Coins and Bars

(.9995%+ Purity Level)

American Eagle Platinum bullion coins

Australian Koala Platinum coins

Canadian Maple Leaf Platinum coins

Isle of Man Noble coins

IRA Approved Palladium Coins and Bars

(.9995%+ Purity Level)

Canadian Palladium Maple Leaf coins

Russian Ballerina Palladium coins

Baird Palladium bars

Credit Suisse Palladium bars

No Collectibles Allowed in a Precious Metals IRA

Please note that regardless of what dealers (agents) tell you, collectible coins are not permitted in a precious metals IRA under any circumstance.

Precious Metals IRA No Symbol Red Circle Slash

Nevertheless, you can purchase collectible coins as a separate investment (outside of your IRA) but you will have to store these coins on your own. The reason why collectible coins are not approved by the IRS is simply because they have a much lower gold purity level.

The major effect of buying unapproved coins is that the IRS will charge you income tax on the amount of your acquisition as the IRS will consider it a withdrawal. There is also a 10% penalty for anybody under 59.5 years of age.

Popular Bullion Coins Bars that are NOT Eligible for a Precious Metals IRA

Even though highly common among investors and collectors, the following coins and bars, are NOT eligible for gold investing in a precious metals IRA.

Anytime you ask your favorite precious metals IRA dealer, and they recommend that you invest in any of these coins, they are either misinformed or misled about gold investing in a precious metals IRA.

Chinese Panda coins

Israel Tower of David coins

French Napoleon coins

South African Krugerrand coins

Switzerland Vreneli coins

United Kingdom Sovereign coins

USSR Chevronet coins

Somalia Elephant coins

Austrian Corona

S. Buffalo Proof coins

Russia’s George the Victorious coins

British Britannia coins

Mexican Gold Peso coins

Chilean 100 Peso

Dutch 10 Guilder

French 20 Franc

Italian Lira coins

S. Liberty coins

Mexican 50 Peso

South African Krugerrand coins

Swiss 20 Franc

If you would like to invest in a gold bullion coin as part of your best IRA that is not listed above, please contact your preferred precious metals IRA company to check if it is approved for IRA investments. We have a compiled our list of Top Gold IRA Companies Reviews and Bullion Dealers for your convenience.