Precious metals, especially gold, in IRAs present tangible assets that many consider able to stand the test of time—and the peaks and valleys of the volatile stock market. These assets are fairly easy to purchase and while there’s no competition involved, you might find yourself on a winning streak of Olympic proportions if your IRA acquires these assets during the right time.
Self-Directed IRAs Can Invest in Gold, Silver and More
The IRS defines many coins as collectibles, and therefore, not permissible in IRAs. However, a self-directed retirement plan is allowed to hold certain types of precious metals as assets. With that being said, know that there are a good number of silver, gold, platinum coins (and bars) as well as palladium bars that the IRS deems allowable.
Below are just a few of the different types of precious metals that are permissible in self-directed IRAs. There are rules, though, (as well as notes to the rules) and the investment pieces must be of a certain “fineness” to qualify as an admissible asset in retirement plans.
Gold: must be of .995 minimum fineness per IRS
Includes American Eagle, American Buffalo, Canadian Maple Leaf coins, and bars or rounds
Silver: must be of .999 minimum fineness
Includes American Eagle bullion and proof coins, Canadian Maple Leaf, and Mexican Libertad coins, and bars or rounds
Platinum: must be of .9995 minimum fineness
Includes American Eagle proof coins and bullion, Australian Koala, and Isle of Man Noble coins, and bars or rounds
Palladium: must be of .9995 minimum fineness
Bars or rounds
NOTES TO THE RULES! Numismatic coins are not permissible; the only semi-numismatic coins allowed in IRAs are Proof American Eagles (in gold, silver and platinum). Uncirculated American Buffalo coins are permissible but proof coins are not allowed. Additionally, all bars and rounds must be created by an approved refiner (or other approved assayer) or by a national government mint and must meet the minimum fineness requirements stated above.
There are additional options not listed above. But, since the IRS is very specific in the types of precious metals allowed in IRAs, it is best that you consult with an expert in these assets to help you determine which ones you purchase using IRA funds. These aren’t the summer Olympic games, but reaching the retirement income of your dreams does require a certain amount of diligence and stamina to achieve.
If investing in precious metals appeals to you, contact Advanta IRA today and open a self-directed precious metals or gold IRA. We can help you navigate the complexities and ensure your retirement plan operates within IRS rules and regulations. After all, you don’t have to be an Olympian in order to go for the silver and the gold.