IRS-Approved Metals
for Gold IRAs
Not all gold qualifies for an IRA. The IRS is specific: collectible coins, jewelry, and metals below purity thresholds are prohibited. This page covers exactly what does qualify — every approved metal, every approved coin, and the purity rules that govern them.
The short version: Gold must be .995 fine or better. Silver .999. Platinum and palladium .9995. American Gold Eagles are a notable exception — they're .9167 fine (22 karat) but explicitly approved by Congress in the Taxpayer Relief Act of 1997.
The Legal Basis
Gold IRAs became possible through the Taxpayer Relief Act of 1997, which amended IRC Section 408(m) to allow IRAs to hold certain physical precious metals. Before that, collectibles — including precious metals — were flatly prohibited in IRAs. The 1997 law created a carve-out with specific purity requirements, and those requirements are still in force today.
The IRS does not publish a running list of approved products. What it does is set minimum fineness standards. If a coin or bar meets the standard and is produced by an approved refiner, national government mint, or accredited manufacturer, it qualifies. Your Gold IRA company's specialist should know what's on the approved list — but so should you.
Gold
Minimum fineness: .995 (99.5% pure)
The exception is the American Gold Eagle, which is .9167 fine (22-karat) but was explicitly authorized by name in the 1997 legislation. Every other gold coin or bar must meet .995.
| Coin / Bar | Country | Purity | IRA-Approved |
|---|---|---|---|
| American Gold Eagle | United States | .9167 (22k) | ✓ Yes (by statute) |
| American Gold Buffalo | United States | .9999 | ✓ Yes |
| Canadian Gold Maple Leaf | Canada | .9999 | ✓ Yes |
| Austrian Gold Philharmonic | Austria | .9999 | ✓ Yes |
| Australian Gold Kangaroo / Nugget | Australia | .9999 | ✓ Yes |
| British Gold Britannia (post-2013) | United Kingdom | .9999 | ✓ Yes |
| Chinese Gold Panda | China | .999 | ✓ Yes |
| South African Krugerrand | South Africa | .9167 (22k) | ✗ No |
| Pre-1933 U.S. gold coins | United States | Varies | ✗ No (collectibles) |
| Gold bars — LBMA/COMEX approved refiners | Various | .995+ | ✓ Yes |
Why no Krugerrand? The South African Krugerrand is .9167 fine — same as the American Eagle — but it was not explicitly named in the 1997 legislation. The American Eagle's approval was specific. The Krugerrand, despite being the world's most widely traded gold coin, does not meet the .995 general threshold and lacks a Congressional carve-out. It is not IRA-eligible.
Silver
Minimum fineness: .999 (99.9% pure)
| Coin / Bar | Country | Purity | IRA-Approved |
|---|---|---|---|
| American Silver Eagle | United States | .999 | ✓ Yes |
| Canadian Silver Maple Leaf | Canada | .9999 | ✓ Yes |
| Austrian Silver Philharmonic | Austria | .999 | ✓ Yes |
| Australian Silver Kookaburra | Australia | .999 | ✓ Yes |
| British Silver Britannia (post-2013) | United Kingdom | .999 | ✓ Yes |
| Silver bars — approved refiners | Various | .999+ | ✓ Yes |
| 90% "junk silver" (pre-1965 U.S.) | United States | .900 | ✗ No |
| Silver rounds (generic) | Various | .999 | ✗ Depends on refiner |
Platinum
Minimum fineness: .9995
| Coin / Bar | Country | Purity | IRA-Approved |
|---|---|---|---|
| American Platinum Eagle | United States | .9995 | ✓ Yes |
| Canadian Platinum Maple Leaf | Canada | .9995 | ✓ Yes |
| Australian Platinum Koala | Australia | .9995 | ✓ Yes |
| Isle of Man Noble (platinum) | Isle of Man | .9995 | ✓ Yes |
| Platinum bars — approved refiners | Various | .9995+ | ✓ Yes |
Palladium
Minimum fineness: .9995
Palladium was added to the eligible metals list by the Protecting Americans from Tax Hikes (PATH) Act of 2015. Fewer Gold IRA companies offer it — Augusta and Goldco, for example, do not — but it is fully IRS-eligible.
| Coin / Bar | Country | Purity | IRA-Approved |
|---|---|---|---|
| Canadian Palladium Maple Leaf | Canada | .9995 | ✓ Yes |
| Palladium bars — approved refiners | Various | .9995+ | ✓ Yes |
What's Always Prohibited
These categories are categorically off-limits in a Gold IRA, regardless of how they are marketed:
- Collectible coins — Numismatic, rare, or graded coins (PCGS/NGC certified) are prohibited under IRC 408(m)(2). Some dealers push these aggressively because margins are higher. They do not belong in an IRA.
- Jewelry and art — The IRA collectibles prohibition covers these explicitly.
- Pre-1933 U.S. gold coins — Saint-Gaudens Double Eagles, Liberty Head Eagles, and similar coins are collectibles by IRS definition.
- Generic silver rounds — If they're not produced by an accredited refiner or national government mint, they likely don't qualify. Ask for documentation.
- Gold ETFs and mining stocks in a physical Gold IRA — A Gold IRA holds physical metals. ETFs and stocks are held in regular IRAs or brokerage accounts, not the same vehicle.
Approved Refiners and Assayers
For gold and silver bars (as opposed to government-minted coins), the bar must be produced by a refiner or assayer that is accredited by NYMEX/COMEX, LBMA, NYSE/Liffe, LME, or TOCOM, or be a national government mint. Well-known approved refiners include PAMP Suisse, Credit Suisse (now UBS), Valcambi, Heraeus, Johnson Matthey, and the Perth Mint. Your Gold IRA company will only offer bars from approved sources — this is worth confirming early in the process.
The Tax Angle
The type of metal you hold doesn't change your tax treatment — gold, silver, platinum, and palladium are all taxed identically inside an IRA (tax-deferred growth in a Traditional, tax-free growth in a Roth). What matters for tax purposes is the account type, not the metal. See our Tax Strategy page for the full breakdown.
One nuance worth knowing: if you ever hold physical precious metals outside an IRA, they are treated as collectibles by the IRS and taxed at a maximum 28% long-term capital gains rate rather than the standard 20% rate for most assets. Inside an IRA, this distinction disappears entirely.
See which companies offer the widest metal selection
Our reviews note which metals each company carries — Birch Gold and GoldenCrest offer all four, while Augusta and Goldco focus on gold and silver.
Compare Top Companies →Frequently Asked Questions
Yes. The American Gold Eagle is .9167 fine (22 karat), below the standard .995 IRS threshold. But it was explicitly named and approved in the Taxpayer Relief Act of 1997. Congressional authorization overrides the general purity threshold. Eagles are one of the most popular Gold IRA holdings.
The South African Krugerrand is also .9167 fine — identical purity to the American Eagle. But it was not named in the 1997 legislation and lacks the Congressional carve-out the Eagle received. Result: IRA-ineligible despite being the world's most widely traded gold coin.
Yes. Despite the common name, a Gold IRA can hold all four IRS-approved precious metals: gold, silver, platinum, and palladium. Silver must be .999 fine minimum. Approved silver includes the American Silver Eagle, Canadian Maple Leaf, Austrian Philharmonic, and approved bars.