What Metals Are Eligible for a Gold IRA? IRS-Approved Coins and Bars
The IRS permits gold, silver, platinum, and palladium inside a self-directed IRA, but only when those metals meet specific purity thresholds and are held at an IRS-approved depository under the supervision of a qualified custodian. Under Internal Revenue Code Section 408(m)(3), eligible bullion must meet the minimum fineness required by federally regulated futures contract markets. In practice, that standard means gold at 99.5%, silver at 99.9%, and platinum and palladium each at 99.95%.
Most government-minted bullion coins that clear those thresholds qualify. Bars from LBMA Good Delivery-accredited refiners qualify as well. One exception applies: the American Gold Eagle meets the standard despite being struck at 91.67% gold because the Taxpayer Relief Act of 1997 named it as an approved IRA asset by statute. Any precious metal that does not meet those conditions, or that is stored outside an approved depository, is treated as a taxable distribution in the year it is acquired.
What the IRS Requires: The Collectibles Rule and Purity Standards
Most tangible personal property is classified as a “collectible” under the Internal Revenue Code, and IRAs are prohibited from holding collectibles.
Under IRC Section 408(m), an IRA that acquires a collectible is treated as having received a taxable distribution equal to the full purchase price in the year of acquisition. The tax consequences are immediate, regardless of whether the account owner intended the purchase as a retirement asset.
Precious metals carry a statutory exemption from that rule. The exemption is not automatic, however. It applies only when two conditions are satisfied: the metal meets the IRS minimum fineness threshold, and the metal is held at an IRS-approved depository through a qualified custodian.
Minimum purity thresholds under IRC Section 408(m)(3) (per COMEX/NYMEX futures contract delivery standards):
| Metal | Minimum Purity |
| Gold | 99.5% (0.9950 fine) |
| Silver | 99.9% (0.9990 fine) |
| Platinum | 99.95% (0.9995 fine) |
| Palladium | 99.95% (0.9995 fine) |
Metals below these thresholds cannot be held in a Gold IRA, with the exception of American Gold Eagle coins. Neither global market acceptance nor refiner reputation changes that outcome.
Sources:
- COMEX Gold Futures Contract Specs
- COMEX Silver Futures Contract Specs
- NYMEX Platinum Futures Contract Specs
- NYMEX Palladium Futures Contract Specs
- COMEX Chapter 113: Gold Futures Rulebook
- COMEX Chapter 112: Silver Futures Rulebook
- NYMEX Chapter 105: Platinum Futures Rulebook
- NYMEX Chapter 106: Palladium Futures Rulebook
IRS-Approved Gold Coins
Several government-minted gold coins satisfy the IRA eligibility requirements. Most qualify by meeting the 99.5% fineness standard directly. The American Gold Eagle qualifies through a separate statutory mechanism. No other below-threshold coin carries that same exception.
1. American Gold Eagle
The Gold Eagle is struck at 22 karats, or 91.67% gold, below the standard purity threshold. It qualifies because the Taxpayer Relief Act of 1997 specifically named it as an approved IRA asset, creating a statutory exception that applies to no other coin at that purity level. Available in 1 oz, 1/2 oz, 1/4 oz, and 1/10 oz sizes from the U.S. Mint.
2. American Gold Buffalo
99.99% pure. Produced by the U.S. Mint since 2006. The Buffalo satisfies the fineness requirement without any statutory exception: it meets the standard on its own terms.
3. Canadian Gold Maple Leaf
99.99% pure. Issued annually by the Royal Canadian Mint. Among the most widely held IRA-eligible gold coins globally, and accepted by virtually every U.S. custodian.
4. Austrian Gold Philharmonic
99.99% pure. Issued by the Austrian Mint. Named after the Vienna Philharmonic Orchestra. Meets both the purity threshold and the government-mint standard for IRA eligibility.
5. Australian Gold Kangaroo
99.99% pure. Issued by the Perth Mint under Australian government authority. Also known in earlier issues as the Gold Nugget; the design changes annually, but the purity and eligibility remain constant.
6. British Gold Britannia
99.99% pure in its current form. Issued by the Royal Mint of the United Kingdom. The Britannia was upgraded from 22 karats to 99.99% purity beginning with the 2013 issue. Pre-2013 versions do not meet the fineness threshold and are not IRA-eligible.
IRS-Approved Silver, Platinum, and Palladium Coins
The same purity logic governs all four approved metals. Your IRA can hold silver, platinum, and palladium coins provided they meet the thresholds established in IRC Section 408(m)(3).
IRS-approved silver coins:
- American Silver Eagle: 99.9% pure
- Canadian Silver Maple Leaf: 99.99% pure
- Austrian Silver Philharmonic: 99.9% pure
- Australian Silver Kookaburra: 99.9% pure
IRS-approved platinum and palladium coins:
- American Platinum Eagle: 99.95% pure
- Canadian Platinum Maple Leaf: 99.95% pure
- Canadian Palladium Maple Leaf: 99.95% pure
State-minted coins may also qualify under IRC Section 408(m)(3)(A)(ii), though eligibility varies by program. Confirm with your custodian before directing any purchase outside the list above.
IRS-Approved Gold and Silver Bars
Bars must meet the same fineness requirements as coins. Purity alone, however, is not sufficient. Bars must also come from an approved refiner.
The IRS does not publish a named list of approved bar producers. The operative standard in practice is production by a refiner recognized by COMEX, NYMEX, or the LBMA (London Bullion Market Association) Good Delivery List.
Refiners whose bars commonly appear in IRA-approved programs include:
Any bar from an LBMA Good Delivery-accredited refiner that meets minimum fineness could satisfy IRS standards. Your custodian, however, makes the final determination on which bars it will accept for custody. Confirm eligibility directly before directing a purchase.
What the IRS Does Not Allow
Several widely traded gold and silver products fail to qualify. Acquiring them inside an IRA triggers the full distribution consequences of the collectibles rule.
South African Krugerrand: The Krugerrand is 91.67% gold, the same purity as the American Gold Eagle. Unlike the Gold Eagle, it was not named in the Taxpayer Relief Act of 1997. It has no statutory IRA exception. It is one of the most-traded gold coins in the world, but it is not an eligible IRA asset.
Numismatic and collectible coins: Rare coins, proof coins priced above their metal value for collector reasons, and most commemorative issues are classified as collectibles under IRC Section 408(m). An IRA that acquires them is treated as having received a taxable distribution equal to the purchase price in that year, not at withdrawal, but at acquisition.
Pre-1933 U.S. gold coins: Saints, Eagles, and Half Eagles minted before 1933 carry collector premiums above their metal content. The IRS classifies them as numismatic rather than bullion under IRC Section 408(m).
Austrian 100 Corona restrikes: These coins were produced in large quantities as restrikes rather than original government bullion. They are 90% gold, below the 99.5% fineness floor.
Any bar below the purity floor: A gold bar at 95% purity fails the 99.5% threshold, regardless of refiner reputation or market acceptance.
The Storage Requirement
Eligible metals must be held at an IRS-approved depository, a licensed, audited facility that maintains physical custody on behalf of the account custodian and account owner.
Personal possession of IRA-owned metals is not permitted. Storing IRA metals at home, in a personal safe, or in a bank safe deposit box you control is treated as a taxable distribution from the account, in full, in the year the arrangement is discovered. For account holders under age 59 1/2, a 10% early withdrawal penalty may also apply under IRS Topic No. 558.
For a complete overview of how custodians and depositories work within the Gold IRA structure, see the Gold IRA Custodian guide in this knowledge center. For more on how Gold IRAs work more broadly, visit the Gold IRA guide.
Bottom Line
IRA eligibility for precious metals turns on minimum purity, refiner accreditation for bars, and approved depository storage. Meeting all three keeps the account in compliance with IRS rules. Falling short on any one (acquiring a non-eligible coin, purchasing from an unapproved refiner, or taking personal possession of metals) triggers a taxable distribution, in some cases equal to the full purchase price.
Reviewing the approved coin and bar list before each purchase is the most reliable way to stay within the rules.
Frequently Asked Questions
What is the minimum gold purity required for an IRA?
Gold must be at least 99.5% pure. The American Gold Eagle is the single exception: it qualifies at 91.67% gold because the Taxpayer Relief Act of 1997 specifically named it as an approved IRA asset by statute. No other below-threshold coin carries that exception.
Can I put a Krugerrand in a Gold IRA?
No. The South African Krugerrand is 91.67% gold (the same purity as the American Gold Eagle) but has no statutory IRA exception. An IRA that acquires a Krugerrand is treated as having received a taxable distribution equal to its purchase price in that year.
What is the difference between IRA-eligible bullion and a collectible?
IRA-eligible bullion is priced based on its metal content and meets the IRS purity thresholds. Collectibles, including rare coins, numismatic issues, and most proof coins, carry premiums above melt value for reasons unrelated to metal content. The IRS classifies collectibles as prohibited IRA assets under IRC Section 408(m), and acquiring one inside an IRA triggers an immediate taxable distribution.
Can I store Gold IRA metals at home?
No. IRS rules require that IRA-owned precious metals be held at an IRS-approved depository under the supervision of a qualified custodian. Personal possession of IRA metals is treated as a taxable distribution from the account in the year it occurs, and a 10% early withdrawal penalty may apply for account holders under age 59 1/2.
Do gold bars qualify for a Gold IRA?
Yes, provided they meet the 99.5% purity threshold and are produced by a refiner recognized by COMEX, NYMEX, or the LBMA Good Delivery List. Your custodian makes the final determination on which bars it will accept for custody. Confirm eligibility with your custodian before directing a purchase.
Which gold coins are NOT eligible for an IRA?
Coins that do not qualify include: the South African Krugerrand (91.67% gold, no statutory exception), pre-1933 U.S. gold coins (classified as numismatic), Austrian 100 Corona restrikes (90% gold, produced as restrikes rather than original government bullion), Mexican Gold Pesos (90% gold), and any numismatic or collectible coin priced primarily above its metal value.
Lear Capital is a PCGS Authorized Dealer with more than 25 years sourcing IRS-eligible precious metals for self-directed retirement accounts. See the full list of IRS-approved metals Lear Capital offers for your Gold IRA.
