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Approved precious metals investments
GOLD BARS & COINS:
At present, gold bars with a purity of 24 karat (0.995+ fineness) are allowed into an IRA. They must be hallmarked by a NYMEX- or COMEX-approved refiner/assayer. These bars come in the following sizes: 1 ounce, 10 ounces, kilo (32.15 ounces), 100 ounces, and 400 ounces. Gold coins having a purity of 24 karat (0.9999 fineness) are the only ones allowed in an IRA, with the exception of the 22 karat US Gold Eagle. Readily acceptable for gold IRAs are the popular bullion coins from America, Australia, Austria and Canada. The South African Krugerrand, being a 22 karat bullion coin, is not allowed.
SILVER:
Regarding silver investments, only silver coins and bars with 0.999+ fineness are allowed. These include the 1 oz. US Silver Eagle, Canadian Silver Maple Leaf, and the Mexican Silver Libertad bullion coins. Investors can purchase 100 oz. silver bars and also 1000 oz. silver bars. Pre-1965 bags of US silver coins (dimes, quarters, half dollars, and silver dollars) are not allowed in an IRA because their alloy contains only 90% silver and thus does not meet the fineness standard.
PLATINUM GROUP METALS:
Platinum and palladium bars and coins of 0.9995+ fineness can also be placed into a precious metals IRA. Both the US and Canadian Mints make 1 oz. platinum coins. Other countries, such as Great Britain and Australia, have 1 oz. platinum coins which are not as well known but also qualify. All platinum and palladium bars and coins must be from a NYMEX- or COMEX-approved refiner/assayer. Private companies with well-established hallmarks, such as Johnson Matthey and Englehard, manufacture platinum and palladium bars ranging in size from 1 oz. to 100 oz.
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