approved precious metals

IRA Approved Precious Metals

A gold IRA (individual retirement account) is comparable to other types of individual retirement accounts in that individuals invest in precious metals such as gold, silver, platinum, and palladium. However, all of these metals must be approved by the IRS or the Internet Revenue Services. There are several parameters connected to metal weight, purity, markup, and so on.

Only a precious metal will be regarded as an IRA-certified precious metal or bullion if all of these requirements are correct. Gold coins and bars, silver coins and bars, platinum coins and bars, and palladium coins and bars are all attainable.

A Gold IRA, also known as a Precious Metals IRA, is an account used to invest in gold and other precious metals. Gold is one of the most popular IRA investment options since it is considered the safe haven against inflation. A gold IRA is a self-directed IRA (SDIRA) in which you have complete control over how your money is invested. A Gold IRA or precious metals IRA is not the same as a traditional or Roth IRA. A gold IRA requires you to splurge more than usual. However, the number of annual contributions will remain constant in this instance.

The top way to safeguard your retirement is to open a precious metals IRA. Check out the below providers and request a free kit.

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Types of Gold IRAs

gold bars pic

IRAs are often classified into three categories. A gold IRA is a self-directed IRA. To invest in a gold IRA, you must first open a self-directed IRA, which is not the same as a traditional 401(k). Regular retirement accounts only permit you to invest in equities and mutual funds.

However, with a gold IRA, you may invest in both paper assets and real gold at the same time while keeping your annual contributions the same. For a gold IRA, you need an IRS-approved depository, self-directed IRA custodian, and brokerage or gold IRA companies.

Traditional Gold IRA

A Traditional IRA is a sort of pre-tax retirement plan in which you can invest in gold. As a result, you will not have to pay taxes on the amount you invest in the gold IRA. You must pay the taxes as a regular income tax during the withdrawal process. However, because your overall income in retirement is smaller, the taxes on the gain from the Traditional gold IRA will be lower than beforehand. As a result, traditional IRAs are a tax-advantaged investment vehicle.

Roth Gold IRA

A Roth gold IRA account allows you to spend your retirement savings on assets other than conventional equities and mutual funds. A Roth Gold IRA is not tax-deferred, but you will be investing in the precious metals IRA using after-tax dollars. As a result, you will not be subject to taxation on your total gain on the Roth IRA. There will be no taxes on your distributions during the IRA withdrawal with a Roth IRA, resulting in a high bracket gain.


SEPs, or Simplified Employee Pension Plans, are designed for self-employed individuals and small organizations to diversify retirement portfolio. The IRA is funded with pre-tax funds, but the gold IRA contribution is more significant than the Traditional and Roth IRA contributions in precious metals. A SEP gold IRA can be funded with up to 25% of your annual income to hold precious metals. This is also a tax-deferred way of investment since you get to keep a portion of the profit at the time of IRA distribution.

Contribution to Gold IRA or Precious Metals IRA

The contribution amount for gold individual retirement accounts is the same as the average precious metals IRA contribution amount. If you are under 50 in 2022, you can spend up to $6,000 here. In addition, if you are above the age of 50, you can contribute up to $7,000 every year. This contribution cap applies to both Traditional and Roth gold IRAs, and you can contribute in more than one IRA. The SEP Gold IRA allows you to spend up to $53,000 and earn up to $55,000 per year. SEP can be funded with up to 25% of your annual salary.

What Physical Precious Metals are Eligible for an IRA?

precious metals bar

IRAs can invest in gold, silver, platinum, and palladium. In IRAs, gold is the most popular precious metal IRA. As a result, it is critical that you use IRS(Internal Revenue Service)-approved metals that are both excellent with the minimum fineness requirements and quantity. Because of the high demand for gold in precious metals, IRAs are sometimes referred to as the Gold IRA. Silver, platinum, and palladium are additional terms for precious metal IRAs.

The IRS approved precious physical metals have to have these specific criteria:

Gold: 99.5% pure for one troy ounce.

Silver: 99.99% pure for one troy ounce.

Platinum: 99.95% pure for one troy ounce.

Palladium: 99.95% pure for one troy ounce.

The Federal Government Mints minted most coins, but gold bars are only eligible if a national refinery like PAMP Suisse delivers them. However, there are certain limitations to precious metals IRA investment.

  • Collectibles
  • Coins issued by another state
  • Coins, Bars, and bullion do not meet the criteria of IRS.
  • Coins are made from apart than the bullion metals.

With this in mind, there are some specific choices for investing in gold and other precious metal, and here we are, including those.

IRA Approved Precious Metals for Investment

The IRA or retirement account authorized precious metals are exclusive. Because they do not include collectibles, all of the metal’s weight and purity will be equal, and it will have the same quality of gold bullion. The majority of these IRA-approved coins are manufactured in the United States. However, we may also observe foreign-issued physical gold coins and other precious metals with varying markup values.

Bullion bars indicate the spot price of gold because they have no face value. The price of gold bars dictates how the piece of gold fluctuates. Because of their craftsmanship and perfection, numismatic coins have more worth than their melt value. However, because of counterfeiting, you must evaluate the purity of the gold before purchasing a bullion bar.

IRA Approved Gold Coins

american quarter eagle

There are ten different physical gold coins that the IRS approves. Most of these coins have variations in their prices as they have different weights to count on and are produced by the national government mint.

  1. American Gold Eagle Coins: the American Eagle Coins were first released back in 1986 by the United States Mint. The coin’s obverse side has lady liberty, and the reverse side has the Bald Eagle. There are four face values of these coins-$5, $10, $25, $50.
  1. American Gold Eagle Proof Coins: the American Gold Eagle has proof sets of ½ troy ounces, and it was released in 1987. There are four different values with these proof coins as there are 1 ounce, ½ ounce, ¼ ounce, and ¹/10 ounce of gold coins.
  1. British Britannia Gold Coins: though the British Britannia gold coin was first minted in 1987 by the Royal Mint, the 2013 Britannia specifications are considered as gold bullion. IRA approved one ounce, ½ ounce, ¼ ounce, 1/10 ounce, and 1/20 ounce of gold Britannia.
  1. Queen’s Beast Coins: this coin was first minted in 2016 and depicted the portrait of Queen Elizabeth and the Lion of England. This was made to present the coronation of the Queen. Both bullion and proof coin are IRA approved.
  1. British Lunar Series: this was minted by the Royal Mint, featuring the Chinese Zodiacs that were made to celebrate the Chinese New Year. The coins are available in 1 ounce, 1/10 ounce, ¼ ounce as bullion. The proof coins can go up to a retirement account or IRA kilo.
  1. Canadian Maple Leaf Coins: the Royal Canadian Mint minted this coin, and the Government of Canada annually produces this coin. The coin was first introduced back in 1979. The current Queen features the 79-year-old Queen.
  1. Austrian Gold Philharmonics Coins: it was one of the best-selling coins globally, and it has been in the market since 2002. Austrian Mint produced the coin with almost fourteen issues till 2012.
  1. Australian Gold Nuggets: the coin was first presented in 1986, and currently, they are produced by the Perth Mint of Australia. The observed side depicts Queen Elizabeth, and the reverse side has the Kangaroo whose design is changed every year. There are eight different types of weights for this coin.
  1. Chinese Gold Panda: this coin was issued by the Republic of China and was first introduced in 1982. The observed side depicts the Temple of Heaven, and another side has the Panda. The weight of these coins starts from 1/20 ounces and can go up to one troy ounce.
  1. American Gold Buffalo: this coin was first issued back in 2016. The observe side of the coin depicts the American Indian Eagle, and the reverse side has the American Bison. The coin has face values of $5, $10, and $225.

IRA Approved Gold Bars

Because gold bars are poured into metal molds to conserve their shape, they are also known as gold ingots. The heaviest gold bar weighs 250 kilos for the IRA funds. Exchange-traded funds or ETFs are based on gold bars largely to generate income. The manufacturers of gold bars are:

  • Braid & Co
  • Emirates Gold
  • Heraeus
  • Metalor
  • PAMP
  • Perth Mint
  • Royal Canadian Mint
  • Royal Mint

IRA Approved Silver Coins

There are ten different silver coins added to this list of being IRA approved.

  1. American Silver Eagle: this 99.9% pure silver coin has the walking liberty on the observe side and the Bald Eagle on the reverse side.
  1. American Silver Eagle Proof Coins: there are more than 21188394 proof coins minted from 1986 to 2020.
  1. Silver Britannia Coin: the one troy ounce of Britannia had the face value of two euros. The reverse side depicts Britannia, and the observe side has Queen Elizabeth’s face.
  1. Queen’s Beast: this coin was first minted in 2016 that depicts Queen Elizabeth and the Lion of England. This lion represents the Queen’s genealogy.
  1. British Silver Lunar Series: the silver coin has three face values- 500 euros, 10 euros, and 2 euros. The wights are a kilo, five ounces, and one-ounce silver coins.
  1. Canadian Silver Maple Leaf: this 99.99% silver coin was first minted in 1988 that depicts Queen Elizabeth and the Maple Leaf.
  1. Austrian Silver Philharmonic Coin: the 31.1 gram of silver Philharmonic holds the face value of 1.50 euros.
  1. Australian Silver Kookaburra: this was first produced by the Perth Mint in 1990 that depicts a Kookaburra at sunset and Queen Elizabeth on each side of the coin.
  1. Chinese Silver Panda: the face value of this coin is 10 Yuan, and the design of the Panda changes every year.
  1. Mexican Libertad: this 31.1-gram coin was first minted in 1982 had eight different weight limits.

IRA Approved Silver Bars

The silver bars are differentiated weights, and most COMEX and LBMA bars are IRA-approved.

  1. Thousand ounces bars
  1.  Hundred troy ounces bars
  1. One kilograms bars
  1. Hundred grams bars
  1. Ten troy ounces bars
  1. One grams bars
  1. Two grams bars
  1. Five grand bars
  1. Ten grams bars.

IRA Approved Platinum Coins

There are seven IRA-approved Platinum coins.

  1. American Platinum Eagle: These IRA eligible coins have four different face values with their weight values.
  1. Platinum Proof Coins: The Platinum proof coins start with the weight of 1/10 ounces.
  1. Queen’s Beast Platinum Coin: the design is the same as gold and silver beast coins.
  1. Platinum Britannia Coins: the design is dame as gold Britannia.
  1. Platinum Maple leaf: the Canadian coin depicts maple leaf and has the face value of 50 Canadian Dollars.
  1. Isle of Man Noble Coins: the value of these coins is 1 Noble with 31.1 grams of 99.995% pure silver.
  1. Australian Platinum Koala: This coin has seven face values and weights.

IRA Approved Platinum Bars

The bars and platinum bullion have to be NYMEX or LBMA approved.

IRA Approved Palladium Coins and Bars

The American Palladium Eagle and Canadian Palladium Maple Leaf are the only IRA-approved Palladium bullion coin.

We’ve put together a comprehensive gold rollover guide that recommends companies that adhere to these rules and have a reputation of helping people every step of the way.


The criteria for creating a gold IRA or retirement account are similar to those for other types of IRAs and retirement funds. You may invest in actual metals like IRA coins and bars and physical metal-backed products such as gold ETFs, gold mining stocks, and gold mutual funds here. All of these investments will provide an opportunity to diversify your portfolio as a hedge against inflation and market volatility. So, judge them based on their past performance. There will be storage and custodial fees associated with actual metal storage. We’ll return to that subject later.

Arthur Karter


Hi, I’m Arthur, and nobody wants to wake up in their 50s like me that they are in serious debt with minimal assets. This wake-up call forced me to reevaluate everything. After going through the school of Hard Knocks, I’m ready to help you by sharing the best retirement choices and how they differ from all the same-old, same-old options that financial advisors sell. These alternatives will help you build and protect your wealth.

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