Investing in gold coins and bars that meet the Internal Revenue Service (IRS) standards for being held in a self-directed Individual Retirement Account (IRA) is known as IRA approved gold coin investing. The IRS has set purity criteria for gold bars and coins to be allowed in an IRA. Gold bars must contain 99.5% pure gold, while silver must be 99.9% pure. As the value of the dollar decreases, the value of gold increases, making it a great option for investors to protect their portfolio from inflation.
Today, IRAs can invest in gold, silver, palladium and platinum bars and coins that are allowed by the IRS. Precious metal IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account. Below is a list of IRA-approved bars that can be purchased for a precious metals IRA account. When it comes to gold coins or bullion, there are several options for gold products to include in your IRA account.
Notable examples of unapproved gold products include pre-1933 gold coins and South African gold Krugerrand. American Eagle gold coins are popular options provided by the U. S., and they are guaranteed to contain the amount of pure gold specified in them as copper is added in addition to the pure gold content. Bullion bars and gold and silver rounds are also allowed in an IRA when they are 99.9% pure.
Scottsdale Bullion & Coin has simplified the process of creating a gold and silver IRA in six easy steps. Here's a quick look at some of the most popular IRA-approved coins and gold bars, as well as what makes them unique.