IRA-Approved Gold & Silver: A list of Approved coins and bars8 min read

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In order to store bullion of any kind in your precious metals individual retirement account (IRA), it will have to meet the minimum purity requirements as outlined by the Internal Revenue Service (IRS).

Storing something that isn’t mentioned on the IRA approved list will almost certainly bring on a penalty and could cause the account to be liquidated.

However, meeting the minimum fineness requirements aren’t the end-all when it comes to self directed IRA guidelines. As with many things pertaining to the IRS, there is some confusion about what is and isn’t allowed despite what appears to be fairly specific guidelines. And it seems that what should be IRA-eligible actually ends up being categorized as a collectible, instead.

But before we wade into the murky waters of holding proof coins in your IRA, let’s first cover each of the four precious metals and determine eligibility under the various relevant IRA account rules.

IRA-Approved gold

Gold has the most lenient requirement out of any category of metal included on the IRA approved precious metals list. Specifically, eligible gold must have a fineness content of 0.995 in order to be included as an investment in a self-directed IRA.

This most notably disqualifies the Krugerrand, an otherwise very popular coin, because of its somewhat reinforced alloy that lowers the gold content. Coins without this alloy are sometimes referred to as “soft gold”.

The American Eagle actually falls in this category as well, but has been granted an exception by the IRS for placement in an IRA. This is the only coin from a national government mint to receive such an exception, undoubtedly because it’s our own.

Here is a listing of gold coins that what we know can be invested in a gold IRA account:

·        American Gold Eagle, bullion and proof

·        American Buffalo

·        Canadian Gold Maple Leaf

·        Canadian Gold Twin Maples

·        Gold Britannia [.9999 Gold (produced from 2013–present)]

·        Australian Gold Kangaroo

·        Austrian Gold Philharmonic

·        Any privately-issued gold rounds with a purity of 0.995 or higher

·        Any sovereign or private gold bars with a purity of 0.995 or higher

Related: Request Your Gold IRA Kit from Birch Gold Group.

There is some confusion when venturing away from the list above and into what might be considered slightly more exotic precious metal coins by some. Here is a list of what might seem to be eligible for entry into gold IRAs based upon its condition and bullion purity, despite sources having differing opinions:

·        Canadian wildlife-themed gold coins that are usually in incremental denominations, such as 1/4oz

·        Australian wildlife-themed gold coins, likewise in incremental denominations

·        Canadian coin commemorating the War of 1812

As alluded to above, each of these gold investments comes in bullion condition and it appears that they have the required gold content relative to the overall weight. Regardless, to the extent you want to invest in these specific coins, we’d advise you to consult with your precious metals dealer and custodian.

IRA-approved silver

Silver has a stricter purity requirement than gold, requiring a total silver content of 0.999 or higher to be eligible for inclusion within an IRA. For the most part, this limitation doesn’t  disqualify the majority of the most popular choices, though there are again some uncertainties.

Here is a listing of silver coins that what we know can be invested in a precious metal IRA account:

·        American Silver Eagle, bullion and proof

·        Canadian Silver Maple Leaf

·        Austrian Silver Philharmonic

·        Australian wildlife-themed silver coins, most popularly the Koala

·        Australian Lunar series, so long as it’s not the opal version

·        Privately-minted silver rounds with a minimum purity of 0.999 or higher

·        Private or sovereign silver bars with a minimum purity of 0.999 or higher

Below is a list of coins that would seem to be IRA-eligible, but there seems to be some disagreement as to eligibility as it relates to the following:

·        America the Beautiful

·        Canadian Silver Twin Maple

·        Silver Britannia

·        Chinese Silver Panda

·        Mexican Libertad

·        Silver Krugerrand

Again, to the extent you want to invest in these specific coins, we’d advise you to consult with your precious metals dealer and custodian.

Finally, though so-called “junk silver” coins that were generally issued in the 20th century U.S. are a very popular form of silver investment, their purity tends to hover around 90%. So we won’t list them individually but instead simply conclude that they are not eligible for inclusion within a self-directed IRA.

Related: Birch Gold Group Review – Inside Look at the Gold IRA Company

IRA-approved platinum

Platinum group metals have a much stricter requirement when it comes to precious metals content. In the case of platinum, the coin, bar, or round has to have a purity of 0.9995 or higher to be IRA-eligible.

Here’s what can be placed into an individual retirement account as far as platinum is concerned:

·        American Platinum Eagle, bullion and proof

·        Canadian Platinum Maple Leaf

·        Australian Platinum Koala

·        Austrian Platinum Philharmonic

·        Privately-issued platinum rounds with a minimum purity of 0.9995 or higher

·        Private or sovereign platinum bars with a minimum purity of 0.9995 or higher

Again, there is some disagreement as to whether Isle of Man platinum coins are IRA-eligible.

IRA-approved palladium

Palladium shares the same purity requirement of platinum, that being 0.9995. Palladium coins are a fairly recent addition to numismatics, so the listing of eligible coins is noticeably shorter than those of the other precious metals groups.

Still, there are quite a few items that can be placed into an IRA:

·        American Palladium Eagle, bullion and proof

·        Canadian Palladium Maple Leaf

·        Russian Ballerina

·        Any privately-issued platinum round with a minimum purity of 0.9995

·        Private or sovereign platinum bars with a minimum purity of 0.9995

Related: How to Diversify Your IRA with Physical Gold & Silver (Ultimate Guide)

Understanding what the IRS considers to be a collectible

This is where the aforementioned confusion comes in. Collectibles are essentially numismatics: these are coins whose price notably exceeds the bullion content for various reasons, whether it’s scarcity, rarity, mintage, and so on.

There are some obvious issues with this right away. For starters, even a bullion coin is considered a collectible in general terms. It’s bought by numismatists, and its price almost certainly exceeds that of the metal’s spot price. So in a sense, this should discount even gold bullion coins from being eligible for placement in precious metals IRAs.

Chinese Pandas and Mexican Libertads are the most frequent pieces that seem to be excluded from IRA-eligible lists. While both of these coins are issued in bullion form and meet the purity requirements, they are likely excluded from eligibility due to their relative rarity.

Next, we will move on to discuss proofs, as well as brilliant and uncirculated coins. Essentially, a proof coin represents a “more collectible” version of a standard coin.

It has a more limited mintage and more attention was paid to its crafting, resulting in a product whose price is higher than its bullion variety. Here’s the thing, though: the extra attention hasn’t actually taken away from the bullion content in any proof coin we’ve encountered.

It would therefore make sense for proof coins to be IRA-eligible, yet besides the American Eagle Coins that get a specific exception, the most credible sources dismiss any proof coin when it comes to IRA inclusion.

We’d generally advise you to work with a reputable precious metals IRA broker on making these purchases (and asking any questions you have regarding the above in parallel).

These specialists will be well versed in these details, to the point where they probably inquired with the IRS in regards to each of the products they offer. As a general rule, though, that shiny proof coin probably isn’t IRA-eligible.

Related: Gold IRA Tax Rules – The IRS and Your Precious Metals

Are denominations and weights important?

Coin denominations range, with the most common varieties being 1oz, followed somewhat distantly by 1/2oz, 1/4oz and 1/10oz, as well as the occasional 1/20oz. As a rule of thumb, the smaller the coin, the more expensive the premium will be.

Again, this would seemingly discount incremental coins from making it on the list: they’re more expensive than their value in bullion. However, we haven’t heard anything about smaller bullion coins (outlined above) not being IRA-eligible regardless of how expensive they are.

Bars function similarly, but in more diverse weight ranges. Bars can go from 1-gram all the way up to 1-kilo or even higher. Smaller bars command a higher premium, while larger ones can sometimes just barely be sold above spot. Again, no distinction seems to be made when it comes to weight and how it translates to eligibility.

Can I store coins I already own in a precious metals IRA?

If you have a packaged coin or bar, you might expect to be able to place it inside an IRA. After all, it’s on the list, right?

However, the coins you place in an IRA need to be sold by an approved dealer. This may be disappointing to some, but it makes sense from a counterfeit/fraud standpoint.

The package can be tampered with even if it looks sealed, so to the IRS, there’s no guarantee of what you’re placing in the IRA unless a reputable dealer is facilitating the purchase.

Related: Gold IRA Guide – How to Diversify Your 401(k) with Precious Metals

How do I find out the precious metals content of an item?

Bars have coins beat in this regard more often than not. Nearly every bar you’ll encounter (originating from a top mint) will have the precious metals purity engraved on the bar itself. Although the bars come packaged and with additional mentions of purity, this is an easy and straightforward way of finding out the purity.

Coins are a little less transparent in this regard. They’re more about design, and therefore, the choice on whether to include the gold content or not is left to the issuer.

While they all have the weight listed somewhere on the coin, some sovereign issuances might omit purity. In these cases, you’ll have to look online and preferably verify through multiple sources that the coin in question has the required purity.

Rounds can likewise go either way. The mint that offers them should provide easily-accessible info on how much precious metals content they have, along with listing whether they’re IRA-eligible. The second part might be optional, though, leaving you to do your research and diligence once again.

IRA-eligibility and precious metals custody

Custody is one of the two remaining considerations of importance. For any of the items that are mentioned to be considered for a precious metals IRA to begin with, the purchase of them and general IRA management must be done through an IRS-approved custodian.

Custody doesn’t mean storage: rather, this is the entity that manages your account in terms of paperwork and so forth. Notably, the custodian isn’t the same company as the precious metals broker: in nearly all cases, gold IRA companies subcontract custody to third parties, which are large accounting companies. These file annual reports and so on, while the broker acts more like a portfolio manager.

This is just as important as ensuring that the coins you are placing inside your IRA meet the purity requirements. Please note that individuals are prohibited from maintaining custody over their self-directed IRA assets (otherwise, the assets held in their custody would be deemed as a disbursement). Likewise, the custodian oversees what goes into the IRA and will red flag anything that would penalize or liquidate the IRA.

Related: Gold IRA Scams to Avoid in 2025

Storing IRA-eligible gold and silver

In general, for any bullion product to be IRA-eligible, it must be stored in an IRS-approved depository.

Depositories such as Brink’s or the Delaware Depository file annual reports on what they hold, which in turn tells the IRS that the IRA holdings haven’t been tampered with. If you were to store the items yourself, to the IRS, there is obviously some room for error or foul play when it comes to reporting: you might have already sold the coins but claim to still have them.

As is the case with custody, precious metals brokers partner with large depositories to facilitate secure storage that comports with IRS regulations. These custodians can even arrange visits to most of these facilities if you so choose, along with helping you to pick a facility that’s closer to your home.

The coins in your IRA are typically eligible for delivery should you desire it, penalty notwithstanding. However, please be warned that closing your IRA and asking to personally take custody of the coins (as opposed to selling them through the broker) will result in a penalty (the severity of which depends on a variety of factors).

To learn more about adding physical gold and silver to your IRA, request your free gold IRA guide from Birch Gold Group today.