For a gold coin to be eligible for use in a Self-Directed Individual Retirement Account, or Gold IRA, it must meet the requirements set forth by the Internal Revenue Service (IRS). These factors include the coin’s composition, purity, and adherence to other IRS rules governing Gold IRAs.
What is Not Allowed in Your Gold IRA
Numismatic and semi-numismatic coins are deemed collectibles by the IRS and are not eligible for a Gold IRA. The exception to this rule is for certain U.S. Mint-produced gold and silver coins.
IRS Requirements for IRA-Eligible Gold Coins
Gold coins must be at least .995 fine or have a purity of 99.5% to be eligible for a Gold IRA, but there is a single exception to this: The American Gold Eagle is .9167 fine and still eligible for use in a Gold IRA.
The IRS requirements for gold coins in a Gold IRA are slightly different from those governing metals like silver and platinum. Silver must have a millesimal fineness of .999, while palladium and platinum must both have a fineness of .9995 for eligibility in a Gold IRA.
Top IRA-Eligible Gold Coins
Some of the most popular Gold IRA Eligible coins include the:
- 1 oz American Gold Buffalo
- 1 oz American Gold Eagle
- Canadian 1 oz Gold Maple Leaf
- Australian 1 oz Gold Kangaroo
- Great Britain 1 oz Gold Brittania
- Austrian 1 oz Gold Philharmonic
There are some other popular gold coins you will not see on this list, and that may not make sense until we understand that the IRS does not approve these products for Gold IRAs.
For investors looking to add gold coins to their portfolio at a less expensive price point, it’s worth noting that fractional versions of certain coins are approved as well. One such popular option is the 1/10th oz American Gold Eagle coin.
These unapproved gold coins include Chinese 1 oz Gold Pandas and South African Gold Krugerrand coins, among others.
IRA-eligible gold coins must meet stringent criteria to adhere to IRS guidelines. By selecting government-issued coins with recognized authenticity and consulting with financial professionals, investors can strategically integrate gold into their retirement portfolios within the confines of government regulations.
