Including
Traditional, Roth,
SEP, Simple, and
Self-Directed IRAs
Gold
bullion and silver
bullion were
approved for IRA
s in 1997.
Previously, the
only forms of
physical gold
or silver
approved for IRAs
were Gold Eagles
and Silver Eagles.
This change was
especially
beneficial to IRA
investors who
prefer silver.
One-thousand
ounce and 100-oz
.999 fine silver
bars sell at small
premiums to spot
price, while
Silver Eagles that
carry premiums
that easily can
exceed $1.60 an
ounce. IRA
investors now can
get much more silver
for their IRA
investments.
Another
significant change
was the inclusion
of platinum and
palladium, two
other popular precious
metals.
Although this
change offers IRA
investors the
opportunity to
diversify their
investments into
other precious
metals, IRA
account
holders should do
serious research
before passing up gold
or silver
to invest in platinum
or palladium.
Gold
Eagles are the
only gold
coins
specifically
approved for IRAs.
Other gold coins,
to be eligible as IRA
investments, must
be at least .995
fine (99.5% pure)
and be legal
tender coins.
This provision
means that the
popular gold
coins from The
Perth Mint's Lunar
Series
are eligible to be
put into gold-silver
IRAs. Other
eligible gold
coins are Canadian
Gold Maple Leafs,
Australian
Kangaroo-Nuggets,
and Austrian
Philharmonics
Conversely,
many gold
coins, such
as Krugerrands
(91.67% pure) and
old
US
gold
coins (90%
pure), are not
legal investments
for IRAs.
Although American
Gold Eagles are
specifically
mentioned in the
law that governs IRA
investments, CMIGS
recommends the
year 2006 1-oz Gold
Dogs
for investors who
prefer gold.)
Silver
Eagles are the
only silver
coins
specifically
approved for
IRAs.
However, Silver
Eagles carry high
premiums, which
could shrink in a
rising market. For
IRA
investors who
prefer silver,
CMIGS recommends
bullion bars,
either 1,000-oz silver
bars
or 100-oz
silver bars.
Pre-1965 US 90% silver
coins are
not eligible for IRAs.
