IRA Allowable Precious Metals: Various Choices

Self-directed IRA accounts are a great option for retirement-related investments. They offer a wide variety of assets to invest in and most people consider them safe investments with less risk. IRA accounts are popular and many allow precious metal assets as an investment. These precious metal IRAs can invest in various kinds of precious metals like Gold, Platinum, Silver, Palladium, and a lot more. 

The IRA investment does not allow for all types of precious metals. When it comes to IRA Allowable Precious metals, there are certain requirements. After these criteria are met, the precious metals can be invested in through the IRA account. IRA only allows investment in approved and allowed gold, silver, palladium, and platinum bars. In this article, we will discuss the list of IRA Allowable Precious metals that you can invest in.

What Precious Metals Are Allowed in an IRA?

IRA accounts allow various kinds of bullion and coins, based on certain aspects. Here is the list of the acceptable precious metal list for the IRA account.

For acceptable gold products, here is the list

  • American Eagle bullion and/or proof coins
  • Australian Kangaroo/Nugget bullion coins
  • Australian Lunar Series coins
  • Austrian Philharmonic bullion coins
  • British Britannia (2013 and newer/.9999 Gold Britannia Coins Only)
  • Canadian Maple Leaf coins
  • Chinese Panda coins
  • Credit Suisse – PAMP Suisse bars
  • U.S. Buffalo bullion coins
  • Credit Suisse/PAMP Suisse Gold Bars / various Gold Rounds and Bars .995

List of silver products that are acceptable 

  • American Eagle bullion and/or proof coins
  • America the Beautiful coins
  • Australian Kookaburra coins
  • Austrian Vienna Philharmonic coins
  • British Britannia (2013 and newer/.999 Silver Britannia Coins Only))
  • Canadian Maple Leaf coins
  • Chinese Panda coins
  • Mexican Libertad bullion coins
  • South African Silver Krugerrand Coin
  • Various Silver Rounds and Bars .999

List of acceptable platinum products

  • American Eagle bullion and/or proof coins
  • Australian Koala bullion coins
  • Canadian Maple Leaf bullion coins
  • Isle of Man Noble bullion coins
  • Various Platinum Bars and Rounds .9995

Palladium products that are acceptable

  • Canadian Maple Leaf  coins
  • Various Palladium Bars and Rounds .9995

You can invest in the listed precious metals and guidelines provided by the IRA custodian. However, these are not the only specific products you can select to invest in. These products are based on certain guidelines. IRA accounts also allow other precious metal products for investment.

The creation of new policies and guidelines allowed more investment options for the IRA. Now one can invest in IRA-allowable precious metals or IRA-permitted gold, silver, palladium, platinum bullion, and coins. The changes in the acceptance of IRA Allowable Precious metals came in after the Taxpayer Relief Act of 1997. It helped in expanding the allowed IRAs. It also allowed the inclusion of one, one-half, one-quarter, and one-tenth ounce of the US gold coins. Apart from that, accepted precious metal includes one ounce of silver coins minted by the U.S. Treasury Department.

IRA Precious Metals
IRA Allowable Precious Metals 

Acceptance Criteria for IRA Allowable Precious Metals

There are certain requirements for being accepted as an investment type and qualifying for the IRA to allow precious metals and be accepted by STRATA.

  • Gold must be 99.5% pure and silver needs to be 99.9% pure. Similarly, Platinum and Palladium need to be 99.95% pure.
  • Precious metals in the form of bars and coins must be produced by someone who is accredited/certified by NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 9000, or national government mint and meets minimum fineness requirements.
  • Proof coins should be completely encapsulated and in the original mint packaging. It should also include the certificate of authenticity.
  • Small bullion bars (apart from 400-ounce gold, 100-ounce gold, 1000-ounce silver; 50-ounce platinum, and 100-ounce palladium bars) must have the exact weight specifications at the time of manufacturing.
  • Non-proof coins and bullion need to be in uncirculated and damage-free condition.

These are certain requirements that can allow any precious metal to be a part of the IRA account investment

IRA Allowable Precious Metals which are not allowed

Certain precious metals are not allowed to be a part of the IRA account investment. Here is the list.

  • Austrian Corona
  • U.S Buffalo Proof
  • British Britannia
  • Belgian 20 Franc
  • Chilean 100 Peso
  • Dutch 10 Guilder
  • French 20 Franc
  • Hungarian 100 Korona
  • Italian 20 Lira
  • U.S Liberty
  • Mexican 50 Peso
  • South African Krugerrand
  • Swiss 20 Franc
  • Collectible Coins or Rare Coins

This is the list of precious metals and coins that are not acceptable as an investment in IRA accounts. It is always suggested that investors consult with the IRA custodian. They can provide a list of IRA Allowable Precious metals, that they would allow users to invest in.  

Conclusion

Investing in precious metals is considered to be a safe and less risky investment type. This is especially true when considering retirement savings. Most experts would always suggest you diversify your precious metal investment. It is important to invest in more than one precious metal in your portfolio. It increases the returns on the investment.

You can invest in any of the acceptable precious metals from the list mentioned above. Also, following the above-mentioned criteria for the IRA Allowable Precious metals, the investments will be better and will provide better returns. Selecting a good IRA custodian will help in making the right kinds of investments in all types of IRA Allowable Precious metals.

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