Gold IRA | Gold Individual Retirement Account

When the Taxpayer Relief Act of 1997 was signed into law, gold, silver and platinum coins as well as bullion were allowed to be held within an Individual Retirement Accounts. Check with your IRA holder and ask if they are currently set up to allow precious metals in your IRA. Not all will do it. If not, you may need to open a new account. Once you have it funded, just tell your custodian what you want to buy. You are limited to certain coins and bars. Gold Bullion

Gold bullion needs to be at least .995 fine and be ok for NYMEX or COMEX delivery.

Gold Coins

Gold coins need to meet the following standards to be eligible for inclusion in an IRA.

  • A fifty dollar gold coin that is 32.7 millimeters in diameter, weighs 33.931 grams, and contains one troy ounce of fine gold.
  • A twenty-five dollar gold coin that is 27.0 millimeters in diameter, weighs 16.966 grams, and contains one-half troy ounce of fine gold.
  • A ten dollar gold coin that is 22.0 millimeters in diameter, weighs 8.483 grams, and contains one-fourth troy ounce of fine gold.
  • A five dollar gold coin that is 16.5 millimeters in diameter, weighs 3.393 grams, and contains one-tenth troy ounce of fine gold.
  • Any gold, silver, platinum, or palladium bullion of a fineness equal to or exceeding the minimum fineness that a contract market (as described in section 7 of the Commodity Exchange Act, 7 U.S.C. 7) [2] requires for metals which may be delivered in satisfaction of a regulated futures contract, if such bullion is in the physical possession of a trustee described under subsection (a) of this section.
Silver coins

Silver coins need to meet the following standards to be eligible for inclusion in an IRA.

  • are 40.6 millimeters in diameter and weigh 31.103 grams;
  • contain .999 fine silver;
  • have a design—
  • symbolic of Liberty on the obverse side; and
  • of an eagle on the reverse side;
  • have inscriptions of the year of minting or issuance, and the words “Liberty”, “In God We Trust”, “United States of America”, “1 Oz. Fine Silver”, “E Pluribus Unum”, and “One Dollar”; and
  • have reeded edges.

Platinum Coins

The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.

Copyright 2010-16 Gold-Coins.net