IRA-approved precious metals are the gold, silver, platinum, and palladium products the IRS lets you hold inside a retirement account. These include gold at 99.5% purity, silver at 99.9%, platinum at 99.95%, and palladium at 99.95%. You can buy either coins or bars.
IRA-approved metals at a glance
The IRS sets minimum fineness standards for the metals an IRA can hold.
| Metal | Minimum fineness | Common approved examples | Forms allowed |
| Gold | 99.5% | American Gold Eagle, Canadian Gold Maple Leaf, Austrian Philharmonic | Coins and bars from an accredited refiner or national mint |
| Silver | 99.9% | American Silver Eagle, Canadian Silver Maple Leaf, silver bars | Coins and bars |
| Platinum | 99.95% | American Platinum Eagle | Coins and bars |
| Palladium | 99.95% | Canadian Palladium Maple Leaf | Coins and bars |
What does IRA-eligible mean?
IRA-eligible means the metal meets the IRS purity rules and is held by a bank or IRS-approved trustee. You can’t keep the metal at home. Instead, your custodian arranges for storage in an approved depository.
Gold IRAs continue to grow in popularity and made up 21% of Swiss America’s customers’ purchases in 2025.
How a precious metals IRA works
Setting up a Gold IRA takes only four steps.
- Open an account: Set up a self-directed IRA custodian account with a designated Gold IRA custodian.
- Fund it: Roll over money from a 401(k) or an existing IRA, or make a new contribution.
- Buy eligible metals: Purchase IRS-eligible coins or bars through the custodian.
- Manage the account: Track your holdings and adjust them as your plan changes.
Check out our podcast for more details on Gold IRAs:
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Tax benefits of a precious metals IRA
A precious metals IRA offers the same tax advantages as a standard IRA. The type you choose determines how the tax works.
Traditional IRA
With a Traditional IRA, your metals grow tax-deferred, and you pay ordinary income tax when you take distributions in retirement.
Roth IRA
With a Roth IRA, you contribute after-tax dollars, and qualified withdrawals are tax-free. For example, if you contribute $5,000 to a Roth IRA, you can withdraw that original $5,000 contribution at any point without tax or penalty.
Early withdrawal
If you take distributions before age 59½, they can trigger a 10% additional tax on top of regular income tax.
How to choose a Gold IRA dealer
Your custodian administers your account. This includes buying and selling on your behalf as well as handling paperwork and storage. Custodians don’t sell metals or give financial advice, so you’ll need to work with a reputable dealer to assist here. Things to look for include:
- Track record: Look for a recognized national dealer with at least a 10-year history that has operated through different market cycles.
- A two-way market: A reputable dealer keeps a buy-back policy and purchases metals back from you when you decide to sell.
- Education: The right dealer should provide educational materials, help, and guidance through the process. They should also share with you the pros and cons of Gold IRAs.
Final thoughts on IRA-approved precious metals
An IRA can hold four metals: gold, silver, platinum, and palladium, as long as they meet IRS purity rules. To learn more about adding precious metals to your IRA, connect with the Swiss America team today!
IRA-approved precious metals: FAQs
How is gold taxed in an IRA?
Gold follows the same tax rules as the account type. In a Traditional IRA, gains grow tax-deferred, and you pay ordinary income tax on distributions. In a Roth IRA, you fund it with after-tax dollars and qualified withdrawals come out tax-free.
Can I convert my IRA to gold?
Yes. You can roll over funds from an existing IRA or a 401(k) into a precious metals IRA, then buy IRS-eligible metals through your custodian.
How do you cash in a gold IRA?
You sell the metal back through your custodian or dealer and take the proceeds as a distribution, or you take an in-kind distribution of the physical metal. A dealer with a two-way market buys the metal back when you sell.
The information in this post is for informational purposes only and should not be considered tax or legal advice. Please consult with your own tax professionals before making any decisions or taking action based on this information.
