Gold IRAs are a category of Self-Directed IRAs governed by IRC Section 408 and the precious metals carve-out at IRC 408(m)(3). This section covers who is eligible to open one, which account types accommodate precious metals (Traditional IRA, Roth IRA, SEP IRA for self-employed, SIMPLE IRA for small business, Solo 401(k) for sole proprietors), and the IRS contribution limits (7,000 dollars for 2026, 8,000 dollars with catch-up if age 50 or over).
We also cover the IRS-approved fineness standards for precious metals: gold at .995 minimum (with an exception for American Gold Eagle at .9167 under the Congressional Bullion Coin Act), silver at .999, platinum at .9995, and palladium at .9995. The IRS-approved coin and bar list includes American Eagle, American Buffalo, Canadian Maple Leaf, Austrian Philharmonic, Australian Kangaroo, and bars from LBMA-accredited refiners.
The distinction between bullion (IRA-eligible) and collectibles or numismatic coins (prohibited under IRC 408(m)(2)) is critical and frequently exploited by dishonest sales practices. Pre-1933 US gold coins, the South African Krugerrand, the British Sovereign, and junk silver 90 percent coins are not IRA-eligible despite frequent marketing claims to the contrary.
Use these foundation guides before making any purchase decisions.