What Metals Are IRS-Approved for an IRA?
Straight answer
An IRA can hold gold, silver, platinum, and palladium — but only as bullion that meets a minimum purity: gold .995, silver .999, platinum and palladium .9995, produced by an approved national mint or accredited refiner. American Gold and Silver Eagles are specifically allowed by statute even though the gold Eagle is only 22 karat (.9167). Most collectible, numismatic, “rare,” and graded proof coins are not eligible — and metal you already own can’t be moved into an IRA. This is general information, not investment or tax advice.
The rules here are narrower than most people expect, and that narrowness is the whole point: an IRA is a tax-advantaged account, so the IRS limits it to investment-grade bullion with a clear market price — not collectibles whose value rides on rarity or grading. Knowing the actual standard protects you from the most common way buyers get overcharged.
Purity minimums by metal
The eligibility test starts with fineness — the share of the coin or bar that is pure metal. The IRS sets a floor for each of the four metals, and anything below it simply can’t go in an IRA:
- Gold — .995 (99.5% pure) or higher.
- Silver — .999 (99.9% pure) or higher.
- Platinum — .9995 or higher.
- Palladium — .9995 or higher.
Purity alone isn’t enough. The metal also has to be produced by a national government mint or by a refiner accredited under recognized standards (NYMEX/COMEX, LBMA, and similar), and it must be held by your custodian’s approved depository — never at home. We cover the full standard, including the accredited-refiner list and bar requirements, in the deep guide to IRS-approved metals.
The Eagle exception
There’s one wrinkle worth understanding. The American Gold Eagle is a 22-karat coin — only about .9167 fine — which is below the .995 gold minimum. By the plain purity rule it shouldn’t qualify. But the law that opened IRAs to bullion carved out a specific exception for U.S.-minted Eagle coins, so both the Gold Eagle and the Silver Eagle are eligible despite the gold version missing the general fineness floor. This is a statutory carve-out, not a loophole you can stretch — it applies to the Eagle, not to other 22k coins like the South African Krugerrand, which is therefore not IRA-eligible.
Approved examples
Plenty of mainstream bullion clears the bar. Common eligible products include American Gold and Silver Eagles, American Gold and Silver Buffalos, Canadian Maple Leafs (gold, silver, platinum, palladium), Austrian Philharmonics, and Australian Kangaroos/Koalas, plus bars and rounds from accredited refiners (PAMP Suisse, Valcambi, Credit Suisse, the Royal Canadian Mint, and others). These trade close to the metal’s spot price, which is exactly why the IRS allows them — the value is the metal, not the story.
What’s banned
The exclusions are where buyers get into trouble. An IRA cannot hold collectible or numismatic coins, “rare” or graded coins valued for rarity, most proof coins sold at heavy markups, pre-1933 or foreign coins that miss the fineness rule (the Krugerrand, British Sovereign, and similar), jewelry, and any non-conforming bullion. It also can’t hold metal you already own — funding an IRA with coins from your safe is a prohibited transaction that can disqualify the account. Everything must be newly purchased through the IRA and shipped straight to the depository.
| Approved | Not approved |
|---|---|
| American Gold & Silver Eagle (Eagle exception) | Most graded/proof coins at high premiums |
| Gold/Silver Buffalo, Canadian Maple Leaf | Numismatic & “rare” collectible coins |
| Austrian Philharmonic, Australian Kangaroo | South African Krugerrand, British Sovereign |
| Accredited-refiner bars (PAMP, Valcambi, RCM) | Jewelry, generic non-conforming rounds |
| Platinum/palladium .9995 from approved mints | Metal you already own (prohibited) |
The “IRA-approved” sales tactic
Here’s the part the rules don’t fully protect you from. Some dealers push “exclusive,” “limited-mintage,” or “IRA-approved” proof coins at premiums of 30%, 50%, or more over the metal’s melt value — far above the 5–15% spread typical bullion carries. Calling a proof Eagle “IRA-eligible” can be technically true while still being a terrible deal: the moment you sell, the inflated premium evaporates and you’re back to the spot price. Eligibility is not the same as value. If a salesperson steers you toward special coins instead of plain bullion, treat it as a warning sign — that’s the single most expensive mistake in this market. See the patterns to watch for in our guide to gold IRA scams and red flags, and start with the basics at the gold & silver IRA hub.
What metals are IRS-approved for an IRA?
Gold at .995 purity or higher, silver at .999, and platinum and palladium at .9995, produced by an approved national mint or accredited refiner and held in an approved depository. American Gold and Silver Eagles are allowed by a specific statutory exception even though the gold Eagle is only 22 karat. Most collectible, numismatic, rare, and high-premium proof coins are not eligible.
Is the American Gold Eagle IRA-eligible if it’s only 22 karat?
Yes. The gold Eagle is about .9167 fine, below the general .995 minimum, but the law that opened IRAs to bullion specifically allows U.S.-minted Gold and Silver Eagles. That carve-out applies to the Eagle only — other 22-karat coins like the Krugerrand do not qualify.
Can I put gold I already own into an IRA?
No. IRA metal must be newly purchased through the account and shipped directly to the approved depository. Contributing coins you already hold is a prohibited transaction that can disqualify the account and trigger taxes and penalties. This is general information, not tax advice.