How to Invest in Gold and More with a Precious Metals IRA

Gold in IRAs is a tangible asset that investors feel stands the test of time—and survives the peaks and valleys of the volatile stock market. But gold isn’t the only precious metal you can add to your portfolio. Silver, platinum, and palladium are permissible in a precious metals IRA, too. In fact, people invest in precious metals to achieve diversity. They feel it’s advantageous to hold assets that offer a monetary solution in times of economic hardship.

Why Invest in Gold and Other Precious Metals?

Don’t just go for the gold in an IRA. There are other precious metals worthy of consideration.

Precious metals have long been considered a solid and stable investment for retirement portfolios. Typically, gold and silver translate to currency across the globe, which offer a hedge against the decline of the dollar, political and Silver bars and gold coins on a black surface representing assets for a precious metal crisis, and protection against inflation. The current sate of America’s economy combined with the uncertainty of the U.S. dollar’s future are certainly reasons to consider a precious metals IRA for your own portfolio.

Gold and other precious metals are liquid assets. Depending on demand, they trade quite quickly and lucratively on the market with the right strategy. If your investing goal is a fast trade for an immediate return in your IRA, coins may be the best route. Bars and larger quantities of precious metals present potential as long-term assets.

IRS-Approved Assets for a Precious Metals IRA

The IRS defines many popular coins as collectibles, and therefore, not permissible in IRAs. However, a self-directed retirement plan can invest in specific types of precious metals as assets. There are numerous silver, gold, and platinum coins and bars, as well as palladium bars your precious metals IRA can hold as assets.

Below are a few different types of precious metals that are permissible in self-directed IRAs. There are rules for precious metals in IRAs, though, as well as notes to the rules. Gold, silver, and other investment pieces must be of a certain “fineness” to qualify as an admissible asset in retirement plans.

IRA Rules for Popular Precious Metal Investments

    • Gold:  must be of .995 minimum fineness per IRS
      • Includes American Eagle, American Buffalo, Canadian Maple Leaf coins, and bars or rounds
    • Silver:  must be of .999 minimum fineness
      • Includes American Eagle bullion and proof coins, Canadian Maple Leaf, and Mexican Libertad coins, and bars or rounds
    • Platinum:  must be of .9995 minimum fineness
      • Includes American Eagle proof coins and bullion, Australian Koala, and Isle of Man Noble coins, and bars or rounds
    • Palladium: must be of .9995 minimum fineness
      • Includes bars or rounds

Notes to the Rules for IRAs

    • Numismatic coins are not permissible; the only semi-numismatic coins allowed in IRAs are Proof American Eagles (in gold, silver and platinum).
    • Uncirculated American Buffalo coins are permissible, but proof coins are not.
    • All bars and rounds must be created by an approved refiner (or other approved assayer) or by a national government mint and must meet the minimum fineness requirements stated above.

There are additional options not listed above. But, since the IRS is specific and strict about the types of precious metals allowed in IRAs, it is best to consult with an expert to help you determine which ones you purchase in your IRA.

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Closing Thoughts from Advanta IRA

When you think of investing in precious metals in your IRA today, chances are you wonder about cryptocurrency in an IRA, too. Crypto’s volatile performance has demonstrated its ups and downs over the past years. However, recent bitcoin forecasts indicate there are plenty of investors who believe it’s worth the risk. But, just as many investors still feel that gold, along with other precious metals, is a secure bet. Gold has proven track record spanning thousands of years. It is certainly less volatile and doesn’t depend on cyberspace for its value. Either way, both gold and crypto are alternative investments that have a potential strategic place in your IRA.

Advanta IRA is a self-directed IRA administrator with clients who invest in gold and other precious metals, as well as bitcoin, in their retirement plans. If you have questions or want to open a precious metals IRA, contact us today.

Additional reading:

Quick Guide to Self-Directed IRA Investment Options for 2023

Roth IRAs vs Traditional IRAs: A Comparison of the Benefits and the Differences

FAQs about How a Checkbook Control IRA Works

This article was first published on April 8, 2021, and has been updated with current information.

About Scott Maurer

Scott Maurer, Vice President of Sales for Advanta IRA, is a recognized expert in the field of self-directed IRAs. With a law degree from the University of Florida and as a designated Certified IRA Services Professional (CISP), Scott’s keen understanding of rules and regulations fuels his passion to educate others on the power of investing in alternative assets using self-directed IRAs. Scott is a frequent guest on retirement and investing webinars and podcasts, and he has shown thousands of individuals how to achieve financial freedom by teaching them how to use their retirement funds to invest in private placements, real estate, private lending, and more. Throughout his two decades in the industry, he has watched numerous unique investments unfold, giving him great perspective of what is possible when people take control of their retirement funds and investing decisions.