Gold, silver, platinum, and palladium coins and bars are held in a Self-Directed IRA. However, by IRS standards, they must be brand new, uncirculated, and meet a specific minimum purity level (otherwise considered investment grade).
Any precious metal product falling outside of these levels, with the exception of the American Gold Eagle coin, is not IRA permissible. For the exact composition of metal and the form of metal (bars or coins), please call to speak with a precious metals specialist today.
With the Taxpayer Relief Act of 1997, the IRS rules for a Gold IRA were set. The IRS approved only a select few precious metals and forms of bullion able to be invested into a precious metal IRA. The four approved precious metals are gold, silver, platinum, and palladium and have to be in the form of bullion, coins, bars, and rounds. Also, the IRS issued requirements of fineness of the precious metal products.
For your consideration, we have provided a list of IRS approved precious metal bullion, coins and bars below.As it pertains to physical storage of your precious metals for your Gold IRA, the precious metal products must be in the possession of an IRS approved custodian or trustee, not the IRA owner.In regards to receiving a distribution, the laws for taking distributions from a Gold IRA are the same as those for a regular IRA. You may liquidate your IRA metals for cash or take physical possession of them, however, either is considered an IRA distribution and will be taxed accordingly.
