IRA-eligible gold is bullion meeting the 0.995 fineness floor in 26 U.S.C. § 408(m)(3) and held by a qualifying trustee — American Gold Buffalos, Canadian Maple Leafs, and bars from recognized refiners. American Gold Eagles qualify through a specific statutory carve-out despite being 22-karat; Krugerrands do not. Collectible, graded, and numismatic coins are never IRA-eligible, whatever a dealer claims.
The rules for what metal can sit in an IRA are statutory, short, and identical for every dealer in the country. That makes this one of the few corners of the industry where you can check any sales claim against the actual law in about a minute. Here’s the law, then the product lists.
The rule
26 U.S.C. § 408(m)(3) sets fineness floors for IRA bullion:
| Metal | Minimum fineness |
|---|---|
| Gold | 0.995 (99.5%) |
| Silver | 0.999 (99.9%) |
| Platinum | 0.9995 (99.95%) |
| Palladium | 0.9995 (99.95%) |
Plus the custody condition: the metal must be held by a qualifying trustee. Not by you, not in your safe, not in an LLC’s safe. McNulty v. Commissioner, 157 T.C. No. 10 (U.S. Tax Court, 2021) settled that the hard way for the taxpayers involved.
The Eagle exception
American Eagle coins are 22-karat (0.9167 fine), below the gold floor, and they’re still eligible. The reason is that § 408(m)(3)(A) lists American Eagles by name, separately from the fineness rule that covers everything else. Congress carved them in.
The exception matters mostly as a trap detector. Some dealers reason aloud that “22-karat coins are IRA-eligible, see the Eagle” and slide toward Krugerrands or other 22-karat product. The Eagle qualifies because a statute names it. Nothing names the Krugerrand.
Commonly eligible products
Coins, assuming they meet fineness or the statutory carve-out:
- American Gold Eagle (0.9167, by statutory exception)
- American Gold Buffalo (0.9999)
- Canadian Gold Maple Leaf (0.9999)
- Austrian Philharmonic (0.9999)
- Australian Kangaroo (0.9999)
- American Silver Eagle (0.999)
Bars and rounds qualify at 0.995+ when they come from recognized refiners and assayers. Names you’ll see include PAMP Suisse, the Royal Canadian Mint, and Perth Mint. Standard weights (1 oz, 10 oz, kilo) resell more easily than odd sizes, which matters on the day you exit.
Availability still varies by dealer, and your custodian confirms eligibility before purchase, which is a useful second check (Gold IRA Custodians).
What doesn’t qualify
- Numismatic, graded, and pre-1933 coins. Collectibles are prohibited in IRAs outright. These also carry the widest dealer margins in the business, which is exactly why they get pitched to IRA buyers anyway. Treat the pitch as a red flag with its own entry in Gold IRA Red Flags.
- Krugerrands. 22-karat, no carve-out.
- Unhallmarked bars. No recognized refiner stamp, no eligibility.
- “Exclusive” or “limited edition” bullion. Sometimes technically eligible on fineness, always worth pricing against a standard Maple Leaf before believing the premium buys anything.
What this means when you read a kit
A dealer’s free kit should list eligible products consistent with the table above; ours have a whole checklist for that (What Is a Gold IRA Information Kit?). When a kit or a follow-up call drifts toward rare coins, the law you just read is your exit. The buying mechanics, from funding to vault, are covered in How to Buy Gold in an IRA.
Frequently asked questions
What gold is IRA-eligible?
Bullion meeting the 0.995 fineness floor in 26 U.S.C. § 408(m)(3), held by a qualifying trustee. In practice: American Gold Buffalos, Canadian Maple Leafs, and similar 0.9999-fine coins, plus bars from recognized refiners. American Gold Eagles qualify separately by statute despite being 22-karat.
Why are American Gold Eagles allowed at 91.67% purity?
Because the statute lists American Eagle coins by name in § 408(m)(3)(A), separately from the fineness-based rule for other bullion. It is a specific legislative carve-out, not a rounding error.
Are Krugerrands IRA-eligible?
No. Krugerrands are 22-karat and, unlike the American Eagle, have no statutory carve-out, so they fail the 0.995 floor. A dealer pushing Krugerrands for an IRA either doesn’t know the rule or is hoping you don’t.
Can I put rare or graded coins in an IRA?
No. Collectibles are prohibited in IRAs, and numismatic, graded, and pre-1933 coins fall on the collectible side of the line. They also carry the industry’s widest markups, which is why they get pitched anyway.