What Precious Metals Are IRA Approved?

What Precious Metals Are IRA Approved?

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As you prepare for retirement, it's important to consider your options for investment vehicles. Many people choose to put their money in individual retirement accounts to save for their golden years. Having an IRA helps you build wealth and ensure that you have enough money to cover your expenses during retirement.

One type of this account that you may consider is a precious metal IRA. This allows you to invest in alternative assets, such as gold, silver, platinum, and palladium. They are tangible assets that can help protect your wealth against inflation and market volatility.

However, not all types of precious metals can be kept in your account. It's important to understand which are approved by the Internal Revenue Service (IRS) to make sure that your assets follow regulations and are eligible for a precious metals IRA. In this article, we'll discuss what precious metals are IRA-approved and how you can start putting your money in them.

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What Precious Metals Are IRA Approved?

What Types of Metals Are Approved for IRAs


Gold is perhaps the most well-known precious metal and is among the popular options in the industry. It has been valued as a currency and store of wealth for thousands of years. Also, its value tends to hold up well during times of economic uncertainty, inflation, and currency fluctuations, making it a sought-after asset for diversifying a retirement portfolio. Some prefer to hold physical gold in their accounts, while others opt for gold ETFs (exchange-traded funds) or gold mining stocks.

The IRS allows gold bullion coins and bars that meet certain purity requirements to be eligible for a retirement account. These are as follows:

  • Gold coins must be at least 99.5% pure.
  • Gold bars must be at least 99.5% pure.

Examples of gold coins that meet the IRS’ standards include the American Gold Eagle, the Canadian Gold Maple Leaf, and the South African Krugerrand. The gold bars that meet the purity standards, include the PAMP Suisse Gold Bar, Johnson Matthey Gold Bar, and the Perth Mint Gold Bar.

It's important to note that collectible coins, such as rare or antique coins, are not IRA-approved. These coins are considered to have a collectible value rather than a precious metals value and do not meet the IRS purity requirements.


Silver is another popular choice for those interested in diversifying their portfolio, as they are often considered a more affordable alternative to gold. While its value tends to be more volatile than gold, it still offers the potential for minimizing risk. This is because it gives you a well-rounded portfolio and protects your investment against economic uncertainties

Similar to gold, the IRS allows silver bullion coins and bars that meet certain purity requirements to be allowed in an IRA. Listed below are the requirements:

  • Silver coins must be at least 99.9% pure.
  • Silver bars must be at least 99.9% pure.

Examples of silver coins that meet this standard include the American Silver Eagle, the Canadian Silver Maple Leaf, and the Australian Silver Kookaburra. While for silver bars, PAMP Suisse Silver Bar meets the requirement


Platinum is a less well-known option, but it still offers the same potential as those mentioned previously. It is rarer than gold and silver and is often used in the production of catalytic converters, jewelry, and electronics. Similar to the aforementioned types, its value tends to hold up well during times of economic uncertainty.

Those who choose to hold physical platinum in their IRA should be aware that platinum tends to be more expensive than gold or silver and, therefore, may require a larger capital or money to start.

The IRS allows platinum bullion coins and bars that meet certain purity requirements to be included in a precious metals IRA.

  • Platinum coins must be at least 99.95% pure.
  • Platinum bars must be at least 99.95% pure.

Examples of platinum coins include the American Platinum Eagle and the Canadian Platinum Maple Leaf. While some platinum bars that satisfy their requirements include the PAMP Suisse Platinum Bar and the Credit Suisse Platinum Bar.


Palladium is the least popular option among the four precious metals approved for retirement accounts. It's a relatively new addition to the list, having been approved by the IRS in 2007. Aside from this, it is often used in the production of catalytic converters, and its value tends to be closely tied to the automotive industry. This is because it is commonly used in car production.

Like platinum, those who choose to hold physical palladium in their IRA should be aware that it is more expensive due to limited supply. The IRS allows palladium bullion coins and bars that meet certain purity standards to be included in a precious metals IRA.

  • Palladium coins must be at least 99.95% pure.
  • Palladium bars must be at least 99.95% pure.

Examples of palladium coins include the Canadian Palladium Maple Leaf and the Russian Palladium Ballerina. While bars that satisfy the IRS’ purity requirements include the PAMP Suisse Palladium Bar and the Credit Suisse Palladium Bar.

What Precious Metals Are IRA Approved?

How to Invest in Precious Metals for Your IRA

Now that you know the four IRA-approved precious metals, you should learn how to invest in them for your golden years. To save you some time researching, here are the simple steps that you can follow to get started.

  • Open an IRA account with a custodian that specializes in this industry.
  • Choose which precious metals you want and purchase them.
  • Store them in a secure depository.
  • Monitor your investments.

It's important to note that buying this kind of asset for your retirement plan can come with additional costs, such as storage fees and transaction fees. You need to take into account these costs to maximize the benefits as they can affect your gains in the long run.

Since you are paying additional fees for this service, be sure to choose a reputable custodian to ensure your assets are safe and secured. They are highly involved in your financial journey, which makes it all the more important. So that you are not overwhelmed, we have compiled our top three companies that specialize in this industry to save you the hassle of researching them on your own. They are the ones handling your bullion and managing your account so you have to think about your decision wisely. You don’t have to worry about these companies as they are known for providing only the best service for their clients.

By working with the companies listed below, you are surely a step closer to achieving your financial goals and security.


Augusta Precious Metals is a reputable company that specializes in providing clients with a variety of options. Their goal is to help clients secure their retirement savings by providing high-quality precious metal products and expert guidance. You will never run out of options as they offer gold, silver, platinum, and palladium coins and bars, as well as a variety of IRA-approved products. They are perfect for investors with high capital as they require a hefty initial investment.

#2. Goldco


Goldco is a leading provider of gold and silver coins or bars. You can come to them if you need IRA-approved metals to hold in your account to diversify your portfolio. Also, they pride themselves on offering exceptional customer service, low fees, and fast delivery, making them a popular choice among those looking to protect their retirement savings.

American Hartford Gold is a financial services company that offers a range of products, including retirement planning and wealth management services, such as IRAs. Their focus is on helping clients achieve their financial goals through personalized strategies and expert guidance. The company was founded in 2005 and has withstood the test of time, making it one of the most trusted financial services companies in the United States.

What You Need To Know Before Investing in Precious Metals IRA


Venturing out and trying alternative assets for your retirement account can offer a number of potential benefits. Here are some of the main advantages you should take note of

  • Diversification - By putting your money into this kind of asset, you are able to diversify your portfolio and enjoy the rewards that come with it. This is important since having a well-rounded portfolio means it includes different assets, such as stocks or bonds. This can help reduce risk and protect you against potential losses incurred in a single asset.
  • Protection Against Inflation - Inflation can erode the value of traditional assets such as stocks and bonds, making precious metals an appealing option and valuable addition to your assets. It is because these have proven to be assets that can increase in value even during inflation.
  • Tax Benefits - You can also enjoy tax benefits, such as tax-deferred growth and the ability to make tax-free withdrawals in retirement for traditional and Roth IRAs, respectively. This can help boost your retirement savings and provide a reliable source of income even in retirement.


It's important to weigh these potential risks and benefits before committing to these assets and exploring the industry. While they can be a valuable addition to a diversified portfolio, they may not suit you.

  • Volatility - While precious metals can provide a safe haven during times of economic uncertainty, they can also be volatile. Their value can fluctuate rapidly, and you may experience significant losses if you do not properly diversify your portfolio. Historically, silver's price has been more volatile than gold's.
  • Storage and Insurance Costs - As previously mentioned, there are additional costs involved in this kind of asset, such as storage and insurance fees. These costs can vary depending on the amount and type you have in your account. This can then eat into your potential returns. Thus, you should work with a reputable custodian that is worth your money.
  • Liquidity - These assets may not be as liquid as other types, such as stocks and bonds, meaning they may be more difficult to sell if you need to access your funds urgently. This lack of liquidity could also result in you receiving less than fair market value when selling your precious metals.
  • Counterparty Risk - Before you start putting your hard-earned money in a retirement account, you need to work with a dealer and a custodian. There is always the risk of these parties going bankrupt or committing fraud, which could result in you losing your assets and wealth. This makes research and working with reputable and experienced custodians, like the companies we recommended, extremely important.

Factors to Consider

Though trying out these alternative assets for your retirement can be a wise decision, it's important to consider a few factors before making a decision. Here are some things to keep in mind:

  • Investment Goals - Consider your investment goals and what you want to achieve before shelling out any money. Are you looking to diversify your portfolio, protect against inflation, or generate growth? If so, then you can consider precious metals IRA.
  • IRA Custodian - Not all custodians allow their clients to add this kind of asset to their accounts, so it's important to choose a custodian that specializes in this type of investment. Make sure to do your research on different custodians and choose one that has an established reputation and experience with this type of asset.
  • Costs - As mentioned earlier, investing in precious metals can come with additional costs, such as storage fees and transaction fees. It's important to consider these costs when making your investment decision' your investment decision and ensure that they don't outweigh the potential benefits.
  • Market Conditions - The value of these can fluctuate depending on market conditions, so it's important to keep an eye on the market and adjust your investment strategy accordingly.
  • IRS Regulations - The IRS has specific rules and regulations regarding the eligibility of certain metals for IRAs, as you’ve read about in the previous section. It's important to ensure that you are following these rules to avoid penalties, taxes, and most importantly, inconveniences.
What Precious Metals Are IRA Approved?

Alternative Ways to Invest in Precious Metals

While investing in precious metals for your IRA can be a smart way to diversify your portfolio and protect your wealth, it's not the only way to invest in these assets. Here are some alternative ways to put your money and expose yourself to the precious metals industry.

  • Physical Bullion - You can purchase physical gold, silver, platinum, and palladium bullion and store it yourself or have it held in your IRA through the help of a custodian. This can be a good option for those who want to have more control over their investments and prefer the thought of having a tangible asset that can give you peace of mind.
  • ETFs and Mutual Funds - For those who want exposure to precious metals without the burden of buying and managing gold accounts, exchange-traded funds (ETFs) and mutual funds that track them may be good options.
  • Mining Stocks - Investing in mining stocks is a good way to gain exposure and enjoy the benefits of these as alternative assets without buying physical metals. However, it can be more volatile than the metals themselves. You should also be aware that they are subject to other risks, such as geopolitical instability and regulatory changes.
  • Royalty Companies - These provide financing to mining companies in exchange for a percentage of the revenue from the mine. It is another asset to consider if you are looking for ways to diversify your portfolio and mitigate risks associated with other assets.

It's important to remember that each of these investment options comes with its own set of risks and potential rewards. These can also help you diversify your portfolio and jumpstart your journey to financial security. But when preparing for retirement, opening a precious metals IRA will be a better option.


In conclusion, investing in IRA-approved precious metals can be a wise strategy to diversify your retirement portfolio and safeguard your wealth. By knowing which metals are eligible for IRA investment and the methods of investing in them, you can make informed choices about your retirement savings.

Although there are expenses associated with these, the potential advantages may outweigh these costs for some investors. Also, seeking guidance from a financial advisor or IRA custodian can provide valuable insights into the potential benefits and risks of investing in precious metals for your IRA. With careful consideration and expert advice, you can make informed decisions to secure your retirement future.