The IRS has specific rules governing what metals can be held in an IRA, how they must be stored, and what transactions are prohibited.
Purity Requirements
The IRS requires precious metals in an IRA to meet minimum fineness standards:
| Metal | Minimum Purity | Notes |
|---|---|---|
| **Gold** | .995 (99.5%) | Exception: American Gold Eagles (.9167) are specifically allowed |
| **Silver** | .999 (99.9%) | Includes American Silver Eagles |
| **Platinum** | .9995 (99.95%) | Includes American Platinum Eagles |
| **Palladium** | .9995 (99.95%) | Includes Canadian Palladium Maple Leafs |
Approved Products (Examples)
- American Gold Eagles (all sizes)
- American Gold Buffalos
- Canadian Gold Maple Leafs
- Australian Gold Kangaroos
- PAMP Suisse Gold Bars (.9999)
- American Silver Eagles
- Canadian Silver Maple Leafs
- 10 oz and 100 oz silver bars (.999+)
What Is NOT Allowed
- Collectible or numismatic coins that do not meet purity requirements
- Foreign coins below the purity threshold
- Jewelry or decorative items
- Metals stored at home or in a personal safe deposit box
Storage Rules
- Metals must be stored in an IRS-approved depository
- Home storage is explicitly prohibited — violating this rule can disqualify the entire IRA
- The depository must be a bank, credit union, or approved non-bank trustee
- Most investors choose Delaware Depository, Brink\'s, or similar nationally recognized facilities
Contribution and Distribution Rules
- Annual contribution limits (2024): \$7,000 under age 50, \$8,000 if 50+
- Early withdrawal penalty: 10% if under age 59½ (plus income tax)
- Required minimum distributions: begin at age 73 for Traditional IRAs
- In-kind distributions: you can receive your physical metals as a distribution (taxed at fair market value)