When people say 'gold IRA,' the account can actually hold four metals: gold, silver, platinum, and palladium. But only products that meet the IRS's minimum fineness (purity) standards and come from an approved source are eligible. Buying ineligible metal for an IRA can jeopardize the account's tax status, so this is one area where it pays to be precise.
The purity standards
- Gold — minimum 99.5% fineness (.995)
- Silver — minimum 99.9% fineness (.999)
- Platinum — minimum 99.95% fineness (.9995)
- Palladium — minimum 99.95% fineness (.9995)
Approved sources and familiar examples
Eligible metals generally must be produced by a national government mint or an accredited refiner, assayer, or manufacturer. A widely recognized exception proves the rule: the American Gold Eagle is specifically permitted by statute even though its alloy is below .995, because it is a U.S. Mint product backed by the government's guarantee of weight and content.
- American Gold Eagle and American Gold Buffalo coins
- Canadian Gold Maple Leaf coins
- Many gold and silver bars from accredited refiners (e.g., LBMA-recognized)
- American Silver Eagle coins
Why collectible coins usually don't belong
The IRS generally prohibits 'collectibles' inside an IRA, and most graded or 'numismatic' coins fall into that category. Beyond eligibility, collectibles carry large premiums over their metal value — premiums that have nothing to do with the sound-money case for owning gold. For a retirement account, the prudent path is approved bullion priced close to spot, where what you pay for is the metal itself.
Before you buy
Always get written confirmation from your dealer that a specific product is IRS-eligible for an IRA before purchasing. Purity rules and approved-product lists can change, and the figures here are a general summary, not tax advice. When in doubt, confirm with your custodian or a licensed tax professional.