IRA-approved gold-silver bullion

Bullion products, such as silver and gold, can be a valuable addition to an individual retirement account (IRA). However, not all bullion products are approved for inclusion in an IRA. IRA-approved gold and silver products must meet certain purity and weight standards the Internal Revenue Service (IRS) sets. 

The concept that one can purchase and hold eligible silver and gold bullion assets in an IRA account is mainly unclear to new investors just exploring the physical precious metals markets. 

Below, we will go through the requirements for silver and gold bullion products that qualify as precious metals IRA investments. You can also find out which gold and silver coins and bars the IRS does not allow for ownership in silver or gold IRAs. 

The types of precious metals allowed in IRA accounts are subject to tight regulations set out by the IRS. These include:

Gold: The IRS only allows certain kinds of gold bullion to be included in a Gold IRA account. The gold must be of a certain purity level (at least 99.5%) and be in the form of coins or bars produced by an IRS-approved mint. The 2023 Gold Austria Philharmonic and the 2022 Australian Perth Kangaroo Gold are two famous coins the IRS has authorized, which we will discuss.

Silver: Similar to gold, the IRS only allows certain types of silver bullion to be included in an IRA account. The silver must be of a certain purity level (at least 99.9%) and be in the form of coins or bars produced by an IRS-approved mint. For example, The American Silver Eagle and the 2023 Silver Austria Philharmonic are permitted in an IRA account. 

Platinum and Palladium: The IRS also allows particular platinum and palladium bullion to be included in an IRA account as long as they meet the purity requirement and are produced by an IRS-approved mint. The 2022 Platinum Canada Maple Leaf and the Canadian Palladium Maple Leaf are two examples of platinum and palladium coins that have received IRS approval.

IRA-Approved Gold Bullion 

Let's see which IRA-eligible gold bullions are right for your future investment. But first, you must also understand the rules and regulations of IRA accounts for holding precious metals. 

Purity: The IRS requires that gold bullion in an IRA account have a minimum purity level of 99.5% which means that the gold must be at least 99.5% pure gold, with the remaining 0.5% being made up of other metals. 

Coins: The 2023 Gold Royal Mint Britannia Type 1, 2020 gold American Buffalo, the Canadian Gold Maple Leaf, and the Austrian Gold Philharmonic are among the gold coins the IRS has authorized for IRA accounts. These coins must be a one-ounce or a fractional coin of one-tenth, one-quarter, or one-half ounce.

Bars: IRS-approved gold bars for IRA accounts include only those produced by an IRS-approved refiner or assayer. The bars must be of one of  the weights the IRS allows, from 1 gram gold bars to kilo gold bars. The bar must also be of a specific size and shape and have a serial number and the assayer's stamp.

List Of IRA-approved gold bullions available at BOLD:

1. 2023 Gold Royal Mint Britannia 1 oz BU - Type 1 
2. 2023 Gold American Buffalo - 1 oz 
3. 2023 Gold Canadian Maple Leaf - 1 oz 
4. 2023 Gold Austrian Philharmonic 1 oz BU 
5. 2023 Australian Perth Kangaroo 1 oz Gold BU 
6. Gold Bar Valcambi - 10 Gram 
7. Gold Bar - 1 oz 
8. Gold Bar Valcambi - 1 Gram 

IRA-Approved Silver Bullions 

You can find as many silver coins and bars or silver rounds in the IRA-eligible silver category. They must meet the specific highest standards as given by IRS. 

Let's see the rules for IRA accounts to hold the silver bullions and silver products allowed in this category. 

Purity: The IRS requires that silver bullion in an IRA account have a minimum purity level of 99.9%, meaning that the silver must be at least 99.9% pure silver, with the remaining only 0.1% being made up of other metals. 

Coins: The American Silver Eagle and the 2023 Silver Austrian Philharmonic are two examples of silver coins that have received IRS approval. These coins must be a one-ounce or a fractional coin of one-tenth, one-quarter, or one-half ounce. 

Bars: IRS-approved silver bars for IRA accounts include only those produced by an IRS-approved refiner or assayer. The bars must be a one-gram, one-ounce bar, or a fractional bar of one-tenth, one-quarter, one-half-ounce, or silver kilo bars. The bar must also be of a certain size and shape and have a serial number and the assayer's stamp. 

List of IRA-approved Silver bullions 

1. 2022 American Silver Eagle 1 oz BU 
2. 2022 Canada Maple Leaf 1 oz Silver BU
3. 2014 Silver Canadian Birds of Prey Bald Eagle - 1 oz 
4. 2023 Silver Austrian Philharmonic 1 oz BU 
5. Silver 100 oz Bar Three Graces - Great Britain The Great Engravers Collection 
6. JBR 1 Kilo Silver Bar 
7. Nadir Refining 1 Kilo Silver Bar 
8. Nadir Refining 100 oz Silver Bar 
9. Silver - 1 Kilo Perth Mint Poured Bar 
10. Germania Mint Premium Cast Bar 1 Kilo Silver (Hologram) 
11. Silver - 100 oz Britannia Bullion Bar 
12. Silver - 10 oz Buffalo Bar (Highland Mint) 
13. Germania Mint Premium Cast Bar 5 oz Silver (Hologram) 

It is essential to note that you must use an authorized and professional custodian to handle precious metals IRA. They will only hold the approved coins or bars on your behalf.

Furthermore, when you invest in silver bullion, you're buying physical metal that you can store in a safe deposit box or a bank. With an IRA account, you will not take physical possession of the metal; instead, the custodian will hold the metal on your behalf. You can see or hold those metals only with the custodian's permission. 

Early distributions of these precious metals are taken as an early withdrawal, which is then penalized with a hefty fine and taxes. 

In brief, the IRS has strict guidelines on the types of silver bullion and gold bullion that can be included in an IRA account. It is essential to follow these guidelines to ensure that your investment is eligible for inclusion in an IRA account. 

Non-Approved IRA Bullion 

Any bullion that does not meet the purity requirements or is not produced by an IRS-approved mint is considered non-approved for inclusion in an IRA account. 

Non-approved bullions include

Jewelry: Gold or silver jewelry is not eligible for inclusion in an IRA account, regardless of its purity level, which includes rings, bracelets, necklaces, earrings, and other items in a row.

Rare or collectible coins: Coins considered rare or collectible, such as old or historic coins, are not eligible for inclusion in an IRA account. The coin's value relies primarily on rarity, age, and condition rather than the purity of the metal.

Numismatic coins: Coins considered numismatic, meaning they are valued for their rarity, historical significance, or artistic merit, are also not eligible for inclusion in an IRA account. 

Non-approved mints: Bullion coins or bars not produced by an IRS-approved mint are not eligible for inclusion in an IRA account, including coins or bars produced by non-government mints, such as private mints.

Final words

IRA–eligible silver and gold bullion are valuable additions to any retirement portfolio. These precious metals are recognized as a reliable store of value and have historically been shown to hold their value during economic uncertainty. 

Your retirement assets may be diversified and protected from inflation and economic uncertainty by investing in silver and gold bullions accepted by IRAs.(also called Gold-IRA). 

Before investing in commodities, getting advice from a financial professional and conducting your analysis is recommended.

Buy IRA-approved Silver and Gold bullions from BOLD at the lowest price online. 

If you have any questions, feel free to call or email us at – ([email protected])