Yes, an IRA can hold physical gold and silver, but only coins and bars the tax code exempts from its ban on collectibles, and only while a bank or IRS-approved trustee holds them, never you. In Bullion Trading LLC's price records since 27 October 2024, the IRA-eligible 1 oz American Gold Eagle cost a median 4.0% over the Ask and the 1 oz Krugerrand, which is not eligible, 2.3%; the Silver Eagle cost 19.2%, and 90% U.S. silver coins, also not eligible, 4.5%. The account adds its own fees: four custodians’ published schedules come to $215 to $610 a year on a $50,000 metals IRA.
The rules sit in section 408(m) of the tax code: when an IRA buys a collectible, its cost counts as a distribution to you, taxed as income. They matter more as limits rise: the IRS set the 2026 IRA limit at $7,500 ($8,600 at 50 and older). Bullion Trading LLC is a dealer, not an IRS-approved custodian, and sells to IRAs at retail only.
| Key finding | Result |
|---|---|
| What an IRA may hold | Gold .995+, silver .999+, platinum and palladium .9995+, and American Eagles, which the law names |
| Who must hold it | A bank or IRS-approved nonbank trustee, never you (McNulty, 2021) |
| 2026 contribution limit | $7,500 ($8,600 at 50+): about 1.9 oz of gold or 149 oz of silver at today's Ask |
| 1 oz gold, median premium | Gold Eagle 4.0%; Philharmonic 2.4%; Krugerrand (not eligible) 2.3% |
| Silver, median premium | Silver Eagle 19.2%; Philharmonic 11.3%; 90% coins (not eligible) 4.5% |
| Yearly fees, four custodians | $215 to $610 on a $50,000 account; 0.5% to 1.2% on 10 oz of gold |
| Required withdrawals | Traditional IRA from 73; none for a Roth owner |
| Bullion gains outside an IRA | Taxed at up to 28% (collectibles rate) |
What are the precious metals IRA rules?
Three rules decide almost everything: what the IRA may buy, who holds it, and how money moves in and out.
- What: American Eagles and coins issued by a U.S. state, by name; other gold, silver, platinum and palladium bullion if it is at least as fine as U.S. futures exchanges require for delivery: .995 gold and .999 silver (COMEX), .9995 platinum and palladium (NYMEX).
- Who holds it: a bank or a nonbank trustee on the IRS’s approved list, never you.
- Money in and out: direct transfers between custodians are unlimited; an indirect rollover must be completed within 60 days, once per 12 months between IRAs.
Which gold and silver coins and bars are IRA-eligible?
Most modern bullion coins and bars qualify: the Maple Leaf, Philharmonic, Britannia, Kangaroo, Buffalo and .9999 bars. The 22-karat Krugerrand and Sovereign fail the fineness test, as do 90% U.S. silver coins and pre-1933 gold; the 22-karat Gold Eagle passes only because the law names it. Each custodian decides which products it accepts.
Silver IRA rules: what is different about silver?
The rules are the same (.999 fine, or the Silver Eagle), but silver’s bulk and price swings change the practice. At today's Ask, $50,000 buys about 990 oz of silver, 30.8 kg, against 12.6 oz of gold, 0.39 kg. Flat storage fees cost the same for both, yet your own silver is often not kept apart: STRATA Trust’s purchase form says silver at the Delaware Depository is held commingled only, and GoldStar Trust offers segregated silver only in 1,000 oz bars.
Silver also swings harder: it fell 58% from its LBMA record of $118.45 on 29 January 2026 to $49.78 at the 3 November close, while gold, which peaked the same day, fell 27%. The gold-silver ratio guide tracks the two.
How do you buy gold or silver with an IRA?
Through the custodian, which pays the dealer you choose and has the metal delivered to a depository.
The 2026 limit of $7,500 buys about 1.9 oz of gold or 149 oz of silver at today's Ask, before premiums, so most metals IRAs are funded by moving an existing IRA or workplace plan. Commingled storage pools your metal with other clients’ metal of the same kind; segregated storage, $150 to $225 a year at these firms, keeps your own coins apart (see allocated vs unallocated storage).
What does a precious metals IRA cost?
A setup fee, a yearly custodian fee and a yearly storage fee, plus the dealer’s premium when you buy and the spread when you sell. Most of these fees are flat, so they weigh heaviest on small accounts.
A 10 oz gold IRA, worth $39,780 at today's Ask, pays 0.54% to 1.16% of its value a year at these four firms, before trading fees. The metal pays no interest, so fees come out of price gains.
Roth or traditional: how are IRA gold and silver taxed?
It depends on the account type, not the metal.
- Traditional IRA: no tax while the metal stays in. Withdrawals, in cash or in coins, are taxed as ordinary income, generally plus 10% before 59½.
- Roth IRA: qualified withdrawals are tax-free, the owner never has required withdrawals, and coins taken out start with a cost basis equal to their value that day (Publication 590-B). In 2026, contributions phase out between $153,000 and $168,000 of income for single filers.
- Outside an IRA: bullion gains are taxed at up to 28% (Topic 409); see the collectibles tax on gold.
Required withdrawals from a traditional IRA start at 73; the first is the prior year-end balance divided by 26.5. For 10 oz of gold at today's Ask ($39,780), that is $1,501, about 0.38 oz, so a coin has to be sold or taken out in kind. A missed withdrawal can cost a 25% excise tax.
Can you keep IRA gold at home?
No, and a 2021 Tax Court case shows the cost. In 2015 Donna McNulty opened a self-directed IRA that owned an LLC she managed; the LLC bought 320 one-ounce American Eagle gold coins for $374,000 and, in 2016, 2,000 Silver Eagles for $37,380, all kept in a safe at home.
In McNulty v. Commissioner (157 T.C. No. 10, 18 November 2021), the court held that taking the coins was a taxable distribution of their cost and upheld accuracy-related penalties. The LLC did not help: “An owner of a self-directed IRA may not take actual and unfettered possession of the IRA assets.”
Other prohibited transactions catch metal owners too: selling your own coins to the IRA, using it as security for a loan, or buying metal for personal use with IRA funds. The account then generally stops being an IRA as of 1 January of that year (Publication 590-B).
Myth: a “home storage” gold IRA is legal if an LLC owns the coins. Fact: that is the argument the Tax Court rejected; the website that sold the McNulty structure advertised it.
What are the risks of a gold or silver IRA?
Besides price swings and fees, the seller. In March 2024 the CFTC, FINRA and NASAA warned retirees about gold and silver IRA pitches; the CFTC’s flyer says spreads in such schemes “can range anywhere from 30 to 300 percent or more.” Self-directed IRA custodians “generally do not evaluate the quality or legitimacy” of an investment, an SEC and NASAA alert warns. Before moving retirement money:
- The metal is an American Eagle or meets the fineness rule, not a “rare” or graded coin.
- The dealer’s price and premium over spot are in writing.
- The custodian is a bank or on the IRS nonbank trustee list.
- You have its fee schedule: setup, yearly, storage, trading and closing.
- Nobody is rushing you, or suggesting you keep the coins at home.
Should you put gold and silver in your IRA?
It can make sense; the trade-offs are clear.
- For: tax-deferred or, in a Roth, tax-free growth on metal that would otherwise pay up to 28% on gains; diversification inside retirement savings; the option to take the metal itself later.
- Against: yearly fees on an asset that pays no income; no possession; a narrower menu (no Krugerrands or 90% silver); traditional IRA withdrawals taxed as ordinary income, which can exceed 28%; required withdrawals that may force sales.
The fee drag is smallest on large balances held for years, and the tax benefit is largest in a Roth. Small amounts, or metal you want within reach, are simpler to own outright; an ordinary brokerage IRA can also hold gold exchange-traded funds, without specific coins or bars. See also how much gold and silver to own.
How we did the research
Premiums: Bullion Trading LLC’s check/wire price records for 15 coins and bars (about four a day since 27 October 2024): each day’s median price divided by the value of its fine metal at that day’s spot close (LBMA; after 28 September 2026, 5 pm New York closes), over up to 510 trading days to 3 November 2026. “Today” is the current price at current spot.
Fees: published schedules read on 19 October 2026, assuming an online application, commingled storage, one type of coin and, for Entrust, Delaware Depository storage. Limits: one dealer’s prices (card and PayPal add 5%); other custodians differ; out-of-stock products keep a recorded price. Monthly medians: CSV download.
The bottom line on gold and silver IRAs
An IRA can hold American Eagles and bullion that meets the fineness rules, if a trustee holds it, and the tax shelter is real. So are the fees: $215 to $610 a year on $50,000 at four custodians. Each product below is IRA-eligible (meets IRS fineness rules). Hold through an IRS-approved custodian.
IRA-eligible gold and silver
The large price is the check/wire price; the card/PayPal price is listed under it. Prices follow the live spot price.
Frequently asked questions
Can I buy silver with my IRA?
Yes, through a self-directed IRA whose custodian accepts metals: .999 fine silver coins and bars, or American Silver Eagles. The custodian pays and the silver goes to a depository.
Can I take the gold out of my IRA later?
Yes, as an in-kind distribution. From a traditional IRA its value is taxed as income that year; from a Roth, a qualified withdrawal is tax-free.
Are proof or rare coins allowed?
Graded and rare coins are collectibles unless they are American Eagles or state-issued coins, and regulators flag pricey “collectibles” sold for IRAs as a scam.
Sources
- Cornell LII, 26 U.S.C. §408.
- IRS, Investments in collectibles and Publication 590-A.
- IRS, IR-2025-111: 2026 limits.
- IRS, RMDs and Publication 590-B: the 26.5 divisor, Roth basis.
- IRS, Topic 409: the 28% rate.
- CME Group, COMEX gold and silver rulebooks: delivery fineness.
- U.S. Tax Court, McNulty v. Commissioner, 157 T.C. No. 10 (2021).
- CFTC, Lies Versus Facts: Gold and Silver IRA Scams (2024); SEC and NASAA, Self-Directed IRAs and the Risk of Fraud.
- Fee schedules: GoldStar Trust, STRATA Trust, The Entrust Group, Equity Trust.
- Bullion Trading LLC price records: every premium here.