What Gold Bars Are IRA Approved?
Are You Thinking About Adding Precious Metals to Your Retirement Portfolio? When adding precious metals such as gold to an IRA, one of the first questions may be which types are approved. In general, coins and bars that meet minimum fineness standards can be included as eligible investments in an IRA account.
Gold investments eligible for inclusion in an Individual Retirement Account must be acquired from either a national government mint or accredited refiner/assayer/manufacturer, and stored with an IRA-compliant depository.
U.S. Buffalo Bullion Coins
Gold Buffalo coins are an increasingly popular investment choice among IRA investors. Modeled after James Earle Fraser’s Buffalo Nickel design – which may have taken inspiration from Chief Iron Tail, Chief Two Moons, and Chief Big Tree – Gold Buffalo coins feature the image of Native Americans on their reverse sides.
This IRA approved bullion coin produced by the United States Mint is composed of one troy ounce of pure gold – making it an attractive alternative to American Eagle gold bullion coin for investors with purity concerns.
As opposed to most bullion coins, this coin’s version approved for an IRA is unique in that it does not contain silver or copper. This allows it to meet IRS minimum fineness requirement of 995. In addition, these commemorative coins provide diversification of your precious metals portfolio while paying tribute to an important event in U.S history.
American Eagle Gold Coins
American Eagle Gold Bullion Coins are one of the most sought-after forms of IRA approved gold. Available in weights ranging from one ounce, half an ounce, quarter ounce and tenth ounce; they’re constructed using 22-karat gold with small amounts of alloy added for additional hardness and resistance to scratching. Plus, unlike government-minted coins they possess legal tender status so can be used as payment for goods and services.
Investing in IRA eligible gold bullion and coins is an excellent way to diversify your retirement portfolio with tangible, reliable assets that have proven their financial security over time. Reputable coin dealers or precious metals brokers are your best source for these purchases.
Purchase of IRA approved gold products should be done from a reliable coin dealer or bullion broker like Gainesville Coins for optimal prices. Purchasing directly online could result in higher premiums being charged. To secure the best prices possible for such investments, shop Gainesville Coins today.
Krugerrand Gold Coins
The gold Krugerrand coin was introduced in 1967 as an investor-friendly coin to attract a wider investor base. It takes its name from Boer statesman Paul Kruger, four-term president of South Africa; as well as its currency rand; its reverse features an image of South Africa’s national animal: springboks.
While its popularity dipped during apartheid era South Africa, it has since seen renewed esteem since reform of policy was implemented. Collectors and precious metal investors still appreciate these coins; especially proof models which carry higher premiums than bullion coins.
However, Gold Krugerrands are ineligible for IRA investment as the IRS sets purity standards of at least 99.5 pure. Many prefer American Eagle gold coins in their self-directed IRA instead due to their historical significance; however, larger sizes can often be hard to come by.
Gold Bars and Rounds
Gold IRAs allow investors to invest in physical bullion without breaking IRS guidelines for collectible investments; instead, this carve-out allows precious metal bullion that meets certain purity standards without an excessive premium to be invested in an IRA account.
Gold bars and rounds are among the most sought-after investments, due to their easy storage and high liquidity; also, their value closely tracks that of spot gold prices.
To qualify as an investment for an IRA, bullion must come from a national government mint or refiner accredited by NYMEX, COMEX, LME, LBMA, LPPM TOCOM or ISO-9000 as well as meeting minimum fineness standards set forth by the IRS. By adding precious metals such as bullion to an IRA you can diversify your portfolio while protecting it against inflation while at the same time creating income through other investments such as self-directed IRAs – both features which you need in order to fully support retirement!
Categorised in: Blog