Precious Metals IRA
In 1997 IRA regulations were changed, now permitting gold bullion and silver bullion for IRAs. Prior to that, only specific bullion coins, Gold American Eagles and Silver American Eagles were acceptable. The 1997 change means IRA investors can now invest in a variety of bullion products, particularly with silver.
Another 1997 change was that American Platinum Eagles were now eligible for IRA investment. This change offers IRA investors further opportunity to diversify.
The regulations specifically approve only one gold coin, the Gold Eagle. Other gold coins are indicated as eligible as IRA investments, but they must be at least 995 fine (99.5% pure) and be legal tender coins. Gold Maple Leafs, Kangaroo Nuggets, Philharmonikers, and the Perth Mint’s Lunar Series meet this criteria. Conversely, many gold coins, such as Krugerrands (91.67% pure) and old US gold coins (90% pure), do not meet this criteria. (Check with your advisor for more information.)
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