What Precious Metals Are IRA Approved?

What Precious Metals Are IRA Approved?

There is a specific set of precious metals that can be purchased as part of an Individual Retirement Account (IRA). The IRS has approved certain precious metals such as gold and silver as well as platinum and palladium as IRA assets. There are specific purity requirements for precious metals and the IRS has a list of approved precious metals.

The IRS requires that precious metals meet a minimum fineness level to be considered IRA-approved. Most gold and silver coins and bars are approved, but not all precious metals are. Precious metals that are not approved for IRAs include gold Krugerrands, 90% US silver coins, and pre-1933 gold.

Precious metals are not easy to invest in. An investor must decide what type of precious metals he or she wants to buy and where to store them. There are a number of options available, from plain rounds and bars to coins from different countries. However, before investing in precious metals, it is important to remember that the IRS does not allow precious metals to be stored in personal storage. As such, it is imperative to choose one of the about half-dozen IRS-approved depositories.

Precious metals that are IRA-approved can be purchased through a dealer or custodian. A custodian is a third-party company that holds the IRA funds. The dealer connects the IRA with the assets available for purchase. Many banks and financial management companies are qualified to act as custodians. The custodian then purchases the precious metals and ships them to a depository.

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Chapters:
0:00 What Precious Metals Are IRA Approved? What Precious Metals Are IRA Eligible?
0:17 What Gold Is Eligible For IRA?
0:41 What Gold Bars Are IRA Approved?
1:18 What Does It Mean For Gold To Be IRA Approved?
1:36 Should Gold Be In An IRA?
2:02 Comparison of the best gold IRA companies

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What Precious Metals Are IRA Approved?
What Precious Metals Are IRA Eligible?
What Gold Is Eligible For IRA?
What Gold Bars Are IRA Approved?
What Does It Mean For Gold To Be IRA Approved?
Should Gold Be In An IRA?
Comparison of the best gold IRA companies