What is IRA approved gold?

To be eligible, gold items must meet certain purity standards. Here are some common types of gold items that are generally approved:

• Gold Bullion Bars: Gold bars that meet minimum fineness standards are typically accepted. The gold must be at least 99.5% pure for bars, but many IRA custodians prefer gold bars with a purity of 99.9%.
• Gold Bullion Coins: Certain gold coins issued by government mints are eligible for inclusion in Precious Metals IRAs. These coins are typically required to have a minimum fineness of 99.5% or higher. Examples include the American Gold Eagle, Canadian Gold Maple Leaf, and Australian Gold Kangaroo.
• Gold Proof Coins: Some proof gold coins may be eligible if they meet the required purity standards. Proof coins are specially minted for collectors and often have a higher level of craftsmanship.
• Gold Commemorative Coins: Certain gold commemorative coins issued by government mints may be eligible if they meet purity requirements. However, not all commemorative coins are approved for Precious Metals IRAs.
• Gold Bars from Approved Refiners: Gold bars from specific refiners that meet the necessary fineness standards may be accepted. These bars must be produced by refiners on the "Approved List" maintained by the IRS.
• It's important to note that not all gold items are eligible for inclusion in Precious Metals IRAs. Additionally, the IRS may update its guidelines, so it's advisable to check with your IRA custodian to ensure that the specific gold items you are considering meet the current requirements.