IRA-Eligible Precious Metals Explained 💰

What Precious Metals Are IRA Eligible?

Precious Metals and Your IRA

An IRA can hold a variety of assets, including precious metals. IRAs are intended to be used for retirement savings, so assets held within are intended to grow and compound over time. As such, precious metals purchased inside an IRA won't trigger taxes. However, if you sell precious metals outside of your IRA, you'll have to pay taxes on the withdrawal. Typically, a traditional IRA requires you to choose from about half a dozen approved depositories.

The IRS has specific rules for IRA holders, but in general, anyone with an earned income can open an IRA and invest in precious metals. An individual may contribute up to $6,000 per year, or 100% of earned income if he or she is age 50 or older. In addition, you can transfer unlimited amounts to an IRA. IRA holders should contact tax specialists to learn about the specific IRS rules.

While it is possible to invest in precious metals using your IRA, you should check the IRS fineness standards before making a purchase. Some popular products include American Gold Buffalo coins and silver eagle coins. Bullion bars and rounds that meet the fineness requirements are also suitable for IRA investments.

Precious metals that qualify for IRA investing include gold, silver, platinum, and palladium. The IRS requires that precious metals in your IRA are 0.995 percent or higher. These standards are higher than those that apply for a standard IRA.

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Chapters:
0:00 What precious metals are IRA approved?
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 Eligible?
What Precious Metals Are IRA Approved?
What Are IRA Approved Coins?
What Gold Is Eligible For IRA?
What Silver Coins Are IRA Eligible?
What Gold Bars Are IRA Approved?
What Does It Mean For Gold To Be IRA Approved?
Should Gold Be In An IRA?
What Investments Are Not Allowed In An IRA?