Gold Coins Permitted In Your Precious Metals IRA
Gold IRAs have always been the most popular among the different types of the precious metals. It is important to understand which gold coins the IRS rules will allow you to have inside of your IRA account. Not just any bullion coins or bars will do. They must meet a certain minimum standard of purity to be acceptable or you will encounter penalties for having coins and bars that are not permitted. The coins themselves must be 24 Karat in all cases except for with the American Eagles, which are acceptable even though they are only 22 Karats. The coins also can not be considered to be too collectible and have to be from certain approved foreign mints. Below are a list of the gold coins which are IRS approved for your Gold IRA.
Canadian Maple Leaf Gold Coins
Canada’s Royal Mint holds the distinction of first creating a global rival to the South African Krugerrand and its bullion gold near-monopoly it had enjoyed. In 1979 these Canadian Maple Leafs appeared. At the time, it was Canada’s first experiment with bullion coins and guaranteeing purity and gold content in any of their coins. Not content with having shaken up the gold bullion world, the Canadian Royal Mint has continued to improve the standard of these much-loved Maple Leafs until they first achieved the highest purity in any gold bullion coin at 99.999%. This earned the Canadian Maple Leaf the honor of being the purest of gold coins made in man’s history. The only downside to this legendary purity is that these coins will scratch and show wear and tear more easily because of how pure and soft the gold content actually is. As the first foreign coins that earned the right to be in the Gold IRAs, these coins always enjoy a special place in investor’s portfolios and hearts.
American Buffalo Bullion Gold Coins
These American Buffalos represent the highest face value U.S. coins in the list of Gold IRA approved coins. The U.S. Mint decided that the American Eagle gold coins had been such a wild success that they would try another issue. They celebrated their tenth anniversary of the Buffalos in 2016. This coins represents several firsts for the U.S. Mint. On the one hand, it is the first time they struck coins in 99.9% fine gold bullion. Second, it is the first major issued U.S. gold coin to carry a $50 face value, helping to ensure its popularity. It is also the first issue where a U.S. mint-made coin contained no alloy metals inside. The Western theme is timeless, as is the coin’s design. Collectors have gravitated to the Buffalo alongside IRA investors because of this. On the obverse side of the coin you see a native American chieftain whose portrait is actually comprised of parts from three different Indian leaders. The reverse side portrays the great American Bison. With its throwback to the American Western era, the coin represents another home run for the U.S. Mint in its bullion coins program.
American Eagle Gold Coins
The beloved American Eagles arrived on the gold bullion scene in 1986 as the first bullion coins produced by the U.S. Mint. In the time since they were first struck, they have managed to attain and hold onto the title of most popular gold bullion coins, a title that the South African Krugerrand had long held. Both the American Eagle and its one-time rival the Krugerrand boast the same level of purity and gold composition as one ounce gold coins. A few years after the successful one ounce American Eagle debuted, the U.S. Mint began to strike other sizes of coins in the form of one-tenth ounce, one-quarter ounce, and one-half ounce variants. These various priced and sized versions all contributed to the ongoing success of the Gold Eagle as the most popular bullion coins in the world. As the first American gold coins the Gold IRAs were allowed to have, they are still a good choice for your retirement portfolio.
Proof American Eagle Gold Coins
After two decades of success with the American Eagle program, the U.S. Mint decided to extend the lineup to include proof models of the American Eagles. Stunningly beautiful, these coins all contain a mesmerizing mirror finish which helps to explain their popularity in Gold IRA accounts.
Australian Kangaroo/Nugget Gold Coins
The Australian mint is based in Perth. The Perth Mint had tremendous success with this gold bullion coin that bears the likeness of two kangaroos on one side and Queen Elizabeth on the reverse side. These coins are an interesting combination of official bullion that are also sometimes collected, making them more challenging to find. With an impressive $100 Australian Dollars face value, they are assured to always have a minimum intrinsic value. All of these Australian Kangaroos were issued in Brilliant Uncirculated condition.
Austrian Philharmonic Gold Coins
Few bullion coins can rival the Austrian Philharmonics. With 100 Euros face value, this makes them the the greatest face value bullion coins among the Gold IRA approved issues. These coins have been the most popular bullion coins in Europe and continue to receive the attention and admiration of investors and even collectors throughout the globe. Commonly valued over the spot gold prices, they demonstrate images from the popular and storied Vienna Philharmonic Orchestra.
Gold Bars Permitted In Your Precious Metals IRA
Various Gold Rounds and Bars .995
Credit Suisse/PAMP Suisse Gold Bars
Gold Bullion Coins Not Permitted In Your Precious Metals IRA
There are many gold bullion coins that the Gold IRAs are not allowed to contain, per IRS rules. The IRS utilizes several main tests to determine if a coin will be approved or not in these investment accounts. Coins have to be produced by an approved mint. They can not be principally rare and collectible but must be mainly intended for bullion investment. They also have to attain a minimum set standard for purity. Where gold coins are concerned, this amounts to a full 24 Karat gold purity. The only exception to this rule is with the 22 Karat American Eagle gold coins.