Holding Precious Metals Other than Gold in an IRA

It’s not been widely known that the IRS allows retirement accounts such as IRAs to hold gold and other precious metals. That’s because most retirement accounts are administered by companies that have no incentive to allow clients to diversify into asset classes that they don’t sell.

Want to open a Gold IRA? Click here to access our simple online new account application.

If you’re considering a Gold IRA, keep in mind a few considerations:

Your Gold IRA can invest in more than gold, including silver, platinum, and palladium.

IRAs can invest in non-government-issued products. It’s true that government-minted silver and gold coins are all acceptable for IRAs and other retirement plans. Examples include the American Eagle, Canadian Maple Leaf, Austrian Philharmonic, and Australian Kookaburra. However, did you know that many private mints also offer bullion products of sufficient fineness to meet IRS stipulations? Most bullion dealers can assist with identifying these products. By choosing these private-minted bullion products, an investor may benefit from purchasing at a lower premium than the more popular government-minted coins.

Precious Metals Purity Requirements

The purity minimums for IRA-eligible precious metals are as follows:

  • Gold – 99.5% Pure
  • Silver – 99.9% Pure
  • Platinum – 99.95% Pure
  • Palladium – 99.95% Pure

You don’t have to worry about the safekeeping of your metals. If you are holding a significant amount of gold or silver coins personally, you will probably keep them in a safe or somewhere else that is secure. With an IRA, on the other hand, you cannot hold the metals yourself in any case. Just as you have chosen an IRA custodian to house your IRA assets, you would choose a depository to keep your IRA’s holdings secure.

Download our Precious Metals Investing Guide for more information about a precious metals IRA. To consult with a live New Direction Trust Company representative, give us a call at 877-742-1270 or send us a message through the Client Portal.

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