When opening a Precious Metals IRA, one of the first things you’ll need to consider is which metals to place in your account. Several different types of gold, silver, platinum and palladium are eligible for IRAs. Plus, you can also add other types of investments, including stocks, mutual funds and mortgage-backed securities, among others.
Your investment decisions should be aligned with your specific goals for retirement, so it’s important to understand your options. Use the information below for a quick background on some of the most popular options, and be sure to talk to a professional who can further explain the unique benefits of each one.
IRA-Approved Precious Metals
Gold
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American Eagle Coins (Bullion and Proof)
A staple of many investors’ retirement portfolios, the American Gold Eagle is the only IRA-approved gold coin that has a purity less than 99.5%. It’s a 22-carat, 91% pure gold coin, first minted in 1986 and was the first official gold bullion coin produced by the United States government.Proof versions of the coin are also eligible for placement in a Precious Metals IRA. These coins are minted with the highest production standards and offer an immaculate presentation. Since they are only available in limited quantities each year, their value is determined not only by their gold content, but also by their age, scarcity and condition. -
American Buffalo Uncirculated Coins
The American Gold Buffalo was the United States’ first 24-carat gold bullion coin with a purity of 99.99%. The coin is offered in 1 troy oz. and features James Earle Fraser’s famous Indian Head nickel design from 1913. The demand for the American Buffalo coin surged so much in the late 2000s (as economic fears mounted in the U.S.) that the U.S. Mint had to temporarily halt sales. -
Canadian Maple Leaf Coins
Introduced in 1979, the Canadian Maple Leaf gold coin was among the first government-issued gold bullion coins in the world. In fact, it was the first official 24-carat gold bullion coin with a purity of 99.99%. The coin is available in five denominations: 1/20 oz., 1/10 oz., 1/4 oz., 1/2 oz. and 1 oz. -
Austrian Philharmonic Coins
Known among collectors for having the largest diameter of all 1 oz. pure gold legal tender bullion coins, the Austrian Philharmonic is a 24-carat, 99.99% pure gold coin, denominated in Euros. -
Australian Nugget / Kangaroo Coins
The Kangaroo is Australia’s 24-carat, 99.99% pure gold coin. A unique feature that separates this coin from other IRA-approved bullion is that it is minted with a new kangaroo design every year. -
Gold bars from various refiners
Various gold bars with a minimum of 99.5% purity, such as the popular Credit Suisse, are also approved for placement in a Precious Metals IRA.
Silver
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American Eagle Coins (Bullion and Proof)
The silver version of the American Eagle, this coin has a purity of 99.9% – the minimum required purity for IRA-approved silver – and is considered among the most popular bullion coin in the world. -
Canadian Maple Leaf
One of the most pure, government-minted silver bullion coins in the world, the silver Canadian Maple Leaf coin has a purity of 99.99%. -
Austrian Vienna Philharmonic
Like its gold counterpart, the Austrian Vienna Philharmonic was the first silver bullion coin to be denominated in Euros and has a purity of 99.9%. -
Australian Kookaburra
First released in 1990, the Australian Kookaburra is a 99.9% pure silver bullion coin with a design that features Australia’s unique kookaburra on the reverse and Queen Elizabeth II on the obverse. -
Mexican Libertad
Meaning “freedom” in Spanish, the Libertad is Mexico’s 99.9% pure silver bullion coin, first released in 1982. -
Silver bars from various refiners
Various silver bars having a minimum of 99.9% purity are also approved for placement in a Precious Metals IRA.
Platinum
Many of the most popular gold and silver coins from around the world are also available in platinum. The minimum fineness for platinum to be IRA-approved is .9995 (99.95% purity). Eligible coins and bars include:
- American Platinum Eagle
- Australian Koala
- Austrian Philharmonic
- Canadian Maple Leaf
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Various platinum bars from recognized refiners
Palladium
Another increasingly popular choice for Precious Metals IRAs, palladium coins and bars must have a minimum purity of 99.95% to be eligible for placement in your retirement account, such as:
- Canadian Maple Leaf
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Various palladium bars from recognized refiners
Other Types of Assets
A Precious Metals IRA is not limited to precious metals. A number of other types of investments can be added to diversify your account, including stocks, mutual funds, bonds, mortgages and real estate, among others.
Need some expert advice? Be sure to reach out to an experienced precious metals company that can help you decide how to allocate your Precious Metals IRA to fit your unique goals and needs.
