The IRS permits self-directed gold IRAs to hold physical gold bars meeting a minimum fineness of .9950, provided those bars are produced by a refiner whose accreditation is recognized under IRS Publication 590-B and Internal Revenue Code Section 408(m)(3). The London Bullion Market Association (LBMA) Good Delivery List is the primary qualifying standard for gold bullion bars in US self-directed IRAs. This reference catalogs every LBMA-accredited gold refiner relevant to US investors as of 2026, with notes on common bar sizes and US custodian acceptance patterns. Verify the live list at lbma.org.uk before any purchase decision.
The IRS permits self-directed gold IRAs to hold physical gold bars meeting a minimum fineness of .9950, provided the refiner is accredited under IRS Publication 590-B and Internal Revenue Code Section 408(m)(3). The London Bullion Market Association Good Delivery List is the primary qualifying standard for those bars. This reference catalogs every LBMA-accredited gold refiner relevant to US investors as of 2026, with notes on bar sizes and US custodian acceptance patterns.
IRS Legal Framework for Gold Bullion Bars
The statutory basis for gold bar eligibility in IRAs is IRC Section 408(m)(3)(B), which permits a self-directed IRA to hold gold bullion “of a fineness equal to or exceeding the minimum fineness that a contract market… requires for metals”, provided the metals are held in the physical possession of a trustee.
For gold, that minimum fineness is .9950 (99.50% pure gold). This is the threshold set by commodity exchange standards and referenced in the IRS code. Gold bars below .9950 fineness do not qualify, regardless of who produced them.
The IRS does not publish a named list of approved refiners. Instead, it defines the qualifying standard: bars must be produced by a refiner accredited by a national government mint or approved by a recognized commodity exchange. In practice, LBMA Good Delivery accreditation satisfies this standard. The NYMEX and COMEX approved refiners lists also qualify, and those lists overlap substantially with the LBMA’s.
Two additional IRS requirements matter for bar holders:
- Bars must be held in the physical custody of an IRS-approved trustee or custodian, not at home or in a bank safe deposit box the account owner controls.
- Bars must remain in original sealed packaging or be accompanied by an assay certificate verifying weight and fineness. Custodians inspect packaging on receipt and will reject damaged or repackaged bars.
Consult your tax advisor and custodian before directing specific bars to your IRA. The IRS treats prohibited transactions in self-directed IRAs as distributions, which triggers income tax and potentially a 10% early withdrawal penalty on the full account value.
The LBMA Good Delivery Standard: Requirements and Process
The London Bullion Market Association (LBMA) has maintained the Good Delivery standard since 1919. It is the world’s most recognized benchmark for large gold bars traded in the professional market. A refiner earns Good Delivery status by demonstrating:
- A minimum of 10 tonnes of refined gold production per year
- Tangible net worth of at least £15 million
- Adequate infrastructure and quality management systems
- Compliance with LBMA’s Responsible Gold Guidance (anti-money-laundering, conflict-gold protocols)
- Production of bars meeting exact physical specifications
The physical specifications for an LBMA Good Delivery gold bar are precise. The standard bar weighs between 350 and 430 troy ounces (approximately 10.9 to 13.4 kilograms), with a preferred weight of 400 troy ounces. Fineness must be at least .9950. Each bar carries a serial number, the refiner’s hallmark, the year of manufacture, and the assayed fineness stamp.
The 400-troy-ounce bar is the unit traded in the professional London gold market and is not the format most retail IRA investors purchase. IRA-eligible bars are typically 1 gram to 1 kilogram, produced by the same LBMA-accredited refiners in their smaller commercial product lines. All bars from LBMA Good Delivery refiners that meet .9950 fineness qualify for IRAs, regardless of size.
The LBMA distinguishes between “current” and “former” Good Delivery refiners. Current members hold active accreditation. Former members either voluntarily withdrew or were removed. Bars produced by former members while they held active accreditation generally remain eligible for trading and IRA purposes, subject to individual custodian policy.
Complete Reference Table: LBMA Gold Refiners by Region
The table below covers LBMA Good Delivery gold refiners with active or legacy status as of 2026. Data sourced from the LBMA Good Delivery List (lbma.org.uk) and refiner corporate websites. The LBMA list is updated periodically; verify current accreditation status before purchasing bars for IRA contribution. Suspended refiners (primarily Russian) are listed separately in a following section.
| Refiner | Country | LBMA Status | Common IRA Bar Sizes | US Custodian Notes |
|---|---|---|---|---|
| Switzerland | ||||
| PAMP SA (MKS PAMP Group) | Switzerland | Active | 1g, 5g, 10g, 20g, 50g, 100g, 250g, 500g, 1 oz, 1 kg | Most recognized by US custodians. “Lady Fortuna” design is the industry standard. Veriscan authentication. Accepted by virtually all US IRA custodians. |
| Valcambi SA | Switzerland | Active | 1g, 5g, 10g, 20g, 50g, 100g, 250g, 500g, 1 oz, 1 kg | Formerly produced bars under Credit Suisse brand. CombiBar (50x1g breakable sheet) widely accepted. Broadly accepted by US custodians. |
| Argor-Heraeus SA | Switzerland | Active | 1g, 5g, 10g, 50g, 100g, 250g, 500g, 1 oz, 1 kg | Mendrisio, Ticino. Part of Heraeus group. Produces bars for sovereign mints worldwide. Kinebar hologram security feature. Widely accepted by US custodians. |
| Metalor Technologies SA | Switzerland | Active | 1g, 5g, 10g, 50g, 100g, 250g, 500g, 1 oz, 1 kg | Founded 1852, Marin-Epagnier, Neuchâtel. Long LBMA history. Accepted by most major US custodians. |
| Germany | ||||
| Heraeus Precious Metals GmbH & Co. KG | Germany | Active | 1g, 5g, 10g, 50g, 100g, 250g, 500g, 1 oz, 1 kg | Founded 1851, Hanau. Among the oldest active refiners. Parent of Argor-Heraeus. Widely accepted by US custodians. Source: heraeus.com. |
| C. Hafner GmbH + Co. KG | Germany | Active | 1g, 5g, 10g, 50g, 100g, 500g, 1 kg | Wimsheim. LBMA-accredited. Less common in US IRA market. Verify with your custodian before purchasing. |
| Australia | ||||
| The Perth Mint (Gold Corporation) | Australia | Active | 1 oz, 2 oz, 10 oz, 100g, 1 kg | Established 1899, East Perth, WA. Wholly owned by Government of Western Australia. Sovereign guarantee on all products. Swan hallmark. Broadly accepted by US custodians. Source: perthmint.com. |
| Canada | ||||
| Royal Canadian Mint | Canada | Active | 1 oz, 10 oz, 1 kg | Crown corporation, established 1908, Ottawa. Produces .9999 fine gold bars with maple leaf holographic security stripe. Accepted by every major US IRA custodian. Source: mint.ca. |
| Asahi Refining Canada Ltd. | Canada | Active | 1 oz, 10 oz, 1 kg | Brampton, Ontario. Part of ARE Holdings (Japan). Absorbed former Johnson Matthey Canada precious metals operations. Accepted by most US custodians. |
| United States | ||||
| Asahi Refining USA Inc. | USA | Active | 1 oz, 10 oz, 1 kg | Salt Lake City, UT. Division of ARE Holdings. Absorbed Ohio Precious Metals (2014) and former Johnson Matthey NA operations. Largest precious metals refiner in North America. Broadly accepted. Source: asahirefining.com. |
| Sunshine Minting Inc. | USA | Active | 1 oz, 10 oz, 1 kg | Coeur d’Alene, Idaho. LBMA-accredited. Security Mint Mark (SMI) authentication feature. Accepted by many US custodians; verify before purchasing. |
| United Kingdom | ||||
| The Royal Mint | United Kingdom | Active | 1 oz, 100g, 250g, 500g, 1 kg | Established 1279, Llantrisant, Wales. LBMA-accredited. Less common in US IRA market than Swiss or Antipodean refiners. Verify with custodian. |
| South Africa | ||||
| Rand Refinery (Pty) Ltd | South Africa | Active | 1 oz, 100g, 1 kg, 400 oz | Germiston; established 1920. One of the largest gold refiners historically. LBMA-accredited. Accepted by many US custodians; verify your specific custodian’s list. |
| Belgium | ||||
| Umicore SA/NV | Belgium | Active | 1g, 5g, 10g, 50g, 100g, 250g, 500g, 1 oz, 1 kg | Brussels. Specialty materials and refining conglomerate with 19th-century origins. LBMA-accredited. Less common in US IRA market; verify with custodian. |
| Japan | ||||
| Tanaka Kikinzoku Kogyo KK | Japan | Active | 1g, 5g, 10g, 100g, 500g, 1 kg | Founded 1885, Tokyo. Major Japanese precious metals group. LBMA-accredited. Limited US IRA market presence; verify with custodian before purchase. |
| Asahi Pretec Corp | Japan | Active | 1 oz, 100g, 1 kg | Osaka. Sister entity to Asahi Refining USA/Canada under ARE Holdings. Verify custodian acceptance independently from Asahi Refining USA. |
| Sumitomo Metal Mining Co. Ltd. | Japan | Active | 1 kg, 400 oz | Major industrial conglomerate, LBMA-accredited refining arm. Primarily institutional bars. Limited retail IRA presence in US; verify with custodian. |
| Mitsubishi Materials Corporation | Japan | Active | 1 kg, 400 oz | Industrial conglomerate with LBMA-accredited refinery. Primarily wholesale institutional bars. Verify US custodian acceptance before directing to IRA. |
| India | ||||
| MMTC-PAMP India Pvt. Ltd. | India | Active | 1g, 5g, 10g, 20g, 50g, 100g, 1 oz, 1 kg | Joint venture between MMTC Ltd. (Indian state trading corporation) and MKS PAMP Group. LBMA-accredited. Growing US market presence; verify with your custodian. |
| United Arab Emirates | ||||
| Emirates Gold DMCC | UAE | Active | 1g, 5g, 10g, 50g, 100g, 1 oz, 1 kg | Dubai Multi Commodities Centre, established 1991. LBMA-accredited. Limited US IRA presence; verify with your custodian before purchasing. |
| Spain / Turkey | ||||
| Sempsa Joyería Platería SA | Spain | Active | 1g, 5g, 10g, 50g, 100g, 250g, 500g, 1 kg | Barcelona; established 1948. LBMA-accredited. Rare in US IRA market; verify with custodian. |
| Nadir Metal Rafineri AS | Turkey | Active | 1g, 5g, 10g, 50g, 100g, 250g, 500g, 1 kg | Istanbul; established 1977. LBMA-accredited. Limited US IRA presence; verify with custodian. |
| Legacy (No Longer Producing) | ||||
| Johnson Matthey PLC | United Kingdom / USA / Canada | Legacy | 1 oz, 10 oz, 100g, 1 kg | Sold precious metals operations 2014-2015. North American assets became Asahi Refining. Existing JM-hallmarked bars accepted by most US custodians. Verify bar production date with custodian. |
| Engelhard Corporation | USA | Legacy | 1 oz, 10 oz, 100g, 1 kg | Acquired by BASF 2006; precious metals refining wound down. Existing Engelhard bars (.9999 fine, hallmarked “E”) accepted by most US custodians. Verify custodian policy before purchasing secondary market bars. |
| Credit Suisse (Valcambi-produced) | Switzerland | Legacy brand | 1 oz, 10 oz, 100g, 1 kg | Valcambi produced bars under Credit Suisse brand for decades. Credit Suisse brand ceased 2023. Bars themselves are .9999 fine Valcambi products and remain IRA-eligible. Underlying Valcambi accreditation is active. |
Table last updated: May 2026. Source: LBMA Good Delivery List (lbma.org.uk) and individual refiner corporate websites. The LBMA list is updated periodically. The table above covers refiners most relevant to US IRA investors and does not include every refiner on the full LBMA roster. Verify current accreditation status at lbma.org.uk.
Refiners With the Widest US Custodian Acceptance
Not every LBMA-accredited refiner’s bars are stocked by US dealers or accepted on US custodian approved product lists. The following refiners appear on virtually every major US self-directed IRA custodian’s approved list.
PAMP SA, The “Lady Fortuna” design from PAMP’s Plan-les-Ouates, Switzerland facility is the single most recognized gold bar in the US retail IRA market. PAMP produces bars in sizes from 1 gram to 1 kilogram, each with anti-counterfeiting Veriscan technology and sealed in an assay card. The combination of brand recognition and authentication technology makes PAMP bars the default choice for many first-time IRA investors. Source: pamp.com.
Valcambi SA, Valcambi’s Balerna, Switzerland refinery dates to 1961. Standard minted bars are common in IRA accounts. Bars formerly produced under the Credit Suisse brand remain fully eligible (see Legacy Refiners section). The CombiBar, a 50×1-gram breakable grid bar, is increasingly popular for investors who want fractional flexibility without buying multiple separate bars. Source: valcambi.com.
Heraeus Precious Metals, Hanau, Germany; founded 1851. Heraeus is the oldest continuously operating major refiner on this list. It produces both Heraeus-branded bars and blank bars for third-party minting. The company’s age and financial standing give US custodians high confidence in the brand. Source: heraeus.com.
The Perth Mint, Established 1899 in Perth, Western Australia. The Government of Western Australia’s guarantee on Perth Mint products is a distinctive feature: every bar carries an implicit sovereign backing separate from any private company’s creditworthiness. Perth Mint bars are stamped with the Swan hallmark and come with an assay certificate. Source: perthmint.com.
Royal Canadian Mint, Canada’s Crown corporation mint has produced .9999 fine gold bars since 1908. RCM bars carry a maple leaf holographic security stripe. They are accepted by every major US IRA custodian and are one of the few bar sources (alongside Perth Mint and the US Mint’s coin programs) that carry government backing. Source: mint.ca.
Asahi Refining USA, Asahi Refining is the largest precious metals refiner in North America. Their Salt Lake City, Utah facility absorbed the former Ohio Precious Metals operations in 2014 and former Johnson Matthey North American precious metals assets. Under ARE Holdings, the company brings nearly 200 years of combined refining heritage to US-produced bars. Source: asahirefining.com.
Legacy Refiners: Johnson Matthey, Engelhard, and Credit Suisse
Three refiner names appear constantly in US precious metals discussions yet no longer produce new gold bars. Their existing bars remain widely accepted by IRA custodians and circulate in the secondary market.
Johnson Matthey PLC
Johnson Matthey held LBMA Good Delivery status for decades and ranked among the most trusted refiner names in the US market. The company sold its precious metals refining operations in 2014-2015, with North American assets becoming Asahi Refining USA and Canada. Bars bearing Johnson Matthey hallmarks, typically “JM” with fineness and serial number, produced during their active LBMA period continue to be accepted by most US custodians. Bars are generally .9999 fine. Confirm your custodian’s current policy on JM bars before purchasing on the secondary market.
Engelhard Corporation
Engelhard was the dominant US precious metals refiner through much of the 20th century, headquartered in Iselin, New Jersey. BASF acquired Engelhard in 2006 and wound down precious metals refining operations. Engelhard bars (hallmarked with the distinctive “E” and fineness) produced during their LBMA-accredited period remain eligible at most custodians. Bars are typically .9999 or .999 fine. Verify your custodian’s current policy before purchasing Engelhard bars on the secondary market, as some custodians require additional documentation for bars from discontinued refiners.
Credit Suisse Bars
For decades, Valcambi SA produced gold bars under the Credit Suisse brand. These were among the most traded retail bars in the US. Following Credit Suisse’s collapse in 2023, bar production under that brand name ceased. The bars themselves are .9999 fine Valcambi products and are accepted by US IRA custodians. The Credit Suisse brand name on the bar does not affect eligibility; what matters is that the bars were produced by LBMA-accredited Valcambi. Valcambi’s own Good Delivery accreditation remains active.
Refiners Suspended From the LBMA List
in 2022, the LBMA suspended six Russian refiners from the Good Delivery List following Russia’s invasion of Ukraine. These refiners, which collectively produced a significant share of global refined gold output, cannot supply new Good Delivery bars to the international market. US IRA custodians will not accept new delivery of bars from these refiners. US sanctions on Russian financial institutions and commodities add a separate legal barrier. The suspended entities as of 2026, per LBMA records at lbma.org.uk:
- Krastsvetmet (Krasnoyarsk Non-Ferrous Metals Plant)
- Ekaterinburg Non-Ferrous Metals Processing Plant
- Moscow Special Alloys Processing Plant
- Prioksky Plant of Non-Ferrous Metals
- Shyolkovsky Factory of Secondary Precious Metals
- Uralelectromed
For IRA purposes: do not purchase bars from any of these refiners. If a dealer offers bars from Russian refiners at a discount, that discount reflects their limited marketability and IRA ineligibility, not a genuine bargain. Verify the suspension status of any refiner you are uncertain about at lbma.org.uk.
Common Bar Sizes for IRA Holders
The IRS sets no minimum or maximum bar size for IRA-held gold, but practical custodian and storage realities create a de facto range most IRA holders operate within.
| Bar Size | Troy Weight | Approx. Value at $3,200/oz | IRA Practical Notes |
|---|---|---|---|
| 1 gram | 0.032 troy oz | ~$103 | Accepted by most custodians. High per-bar storage fees make 1g bars inefficient for large IRAs. |
| 1 troy oz | 1.0 troy oz | ~$3,200 | Most common IRA bar size. All major refiners produce 1 oz bars. Universal custodian acceptance. |
| 100 gram | 3.215 troy oz | ~$10,288 | Common European size; accepted by most US custodians. PAMP, Valcambi, and Heraeus all produce this size. |
| 10 troy oz | 10.0 troy oz | ~$32,000 | Common for mid-size IRA accounts. Better storage economics than 1 oz. Accepted by most custodians. |
| 1 kilogram | 32.15 troy oz | ~$102,880 | Common for larger IRA accounts. Better unit economics. Universal acceptance from major refiners. |
The 1 troy ounce and 1 kilogram sizes are the most practical for retail IRA investors. Storage fees at IRS-approved depositories are typically charged per account or per unit of weight; larger bars carry lower costs per troy ounce of gold held. Confirm your custodian’s minimum and maximum bar size requirements before purchasing. Consult your tax advisor regarding the impact of bar sizing on your specific retirement account structure.
How to Verify a Bar Before Purchase
Counterfeit gold bars, including tungsten-cored bars with LBMA-branded packaging, are a documented problem in the precious metals market. The FINRA investor alert on precious metals fraud specifically warns retail investors about this risk. Four verification steps reduce exposure significantly.
- Buy from an authorized dealer. Reputable gold IRA companies source only from established wholesale dealers with direct supplier relationships with LBMA-accredited refiners. Secondary market bars require additional authentication.
- Check original sealed packaging. PAMP uses Veriscan, Valcambi uses holographic assay cards, and most other major refiners provide tamper-evident sealed packaging. An unsealed bar is a red flag requiring independent assay before IRA deposit.
- Verify the hallmark and fineness stamp. Every LBMA Good Delivery bar carries a refiner hallmark, fineness (.9999 or .9950), weight, and serial number. PAMP’s Veriscan app allows authentication against a database of bar-specific measurements.
- Independent assay for secondary market bars. For secondary market purchases above $10,000, commission an independent assay from a certified assayer before directing the bar to your IRA custodian. Some custodians require this for bars outside original factory packaging.
How Your Gold IRA Company Sources Eligible Bullion
When you open a gold IRA through a company like Augusta Precious Metals, Birch Gold Group, or Noble Gold Investments, the company handles sourcing of IRS-eligible bullion on your behalf. They work with established wholesale precious metals dealers who source directly from LBMA-accredited refiners. The gold ships to an IRS-approved depository, not to your home address.
This intermediary role matters for two practical reasons. First, reputable gold IRA companies maintain existing relationships with dealers who verify bar provenance and authenticity. Second, they understand which bar sizes and refiner brands your specific custodian accepts, preventing the rejection risk a retail investor purchasing independently might encounter.
Augusta Precious Metals positions itself around an Education-First Process: a salaried, non-commissioned specialist walks clients through eligible product options before any purchase is made, according to their public website. Augusta has received Money Magazine’s Best Overall Gold IRA Company designation for 2022-2026 and holds a BBB A+ rating with zero complaints on record as of 2026.
Ready to see which gold IRA companies accept which bar types? Goldiew tracks verified user reviews and sourcing practices. Read Augusta Precious Metals reviews Compare top gold IRA companies
Frequently Asked Questions
Are all bars from LBMA Good Delivery refiners automatically IRA-eligible?
LBMA accreditation is necessary but not sufficient on its own. The bar must also meet the IRS minimum fineness of .9950 for gold. Some LBMA refiners produce specialty products below that fineness. Beyond IRS rules, individual US custodians may maintain approved product lists that are stricter subsets of the full LBMA roster. Confirm with your custodian before purchasing any specific bar for IRA contribution.
Does my IRA custodian have to accept any bar from an LBMA-accredited refiner?
No. The IRS sets the minimum standard (LBMA accreditation plus .9950 fineness), but custodians can set stricter criteria. Some accept only bars from a short list of widely-traded refiners (PAMP, Valcambi, Heraeus, Perth Mint, Royal Canadian Mint). Others accept any bar meeting the IRS standard. Request your custodian’s approved product list before purchasing bars.
What happened to Russian LBMA Good Delivery refiners after 2022?
in 2022, the LBMA suspended six Russian refiners from the Good Delivery List following Russia’s invasion of Ukraine. These included Krastsvetmet and Ekaterinburg Non-Ferrous Metals Processing Plant, among others. US-based IRA custodians will not accept new delivery of bars from these suspended refiners. US sanctions on Russian entities add a separate legal prohibition on such transactions.
Are Johnson Matthey and Engelhard gold bars still IRA-eligible?
Generally, yes. Both held LBMA Good Delivery status and their bars meet the .9950 fineness standard. Neither produces new bars today, but existing bars bearing their hallmarks remain widely accepted by IRA custodians. Verify bar condition and your custodian’s current policy before purchasing on the secondary market.
What is the smallest gold bar size accepted in a gold IRA?
The IRS sets no minimum bar size. Most custodians accept bars starting at 1 troy ounce; some accept smaller sizes down to 1 gram. Storage fee structures (per account vs. per bar) make very small bars economically inefficient for large IRAs. Confirm minimum and maximum bar sizes with your chosen custodian before purchasing.
Does LBMA Good Delivery accreditation guarantee a refiner’s bars are safe to buy?
LBMA accreditation confirms that a refiner meets production standards and market standing requirements, not that any individual bar you encounter is genuine. Counterfeit LBMA-branded bars exist in the market. Always purchase from a reputable dealer with documented sourcing, verify original sealed packaging, and for secondary market bars above $10,000, commission an independent assay. The FINRA precious metals fraud alert details common fraud patterns investors face.
Sources
- Internal Revenue Code Section 408(m)(3) (United States Code), IRA bullion eligibility statutory text. Accessed May 2026.
- IRS Publication 590-B: Distributions from Individual Retirement Arrangements, Trustee custody and eligible asset rules. Updated 2025.
- LBMA Good Delivery, Authoritative Good Delivery List and accreditation requirements. Accessed May 2026.
- LBMA Responsible Gold Guidance, Accreditation requirements for conflict-gold and AML compliance. Accessed May 2026.
- Asahi Refining, About Us, US facility location, parent company, LBMA accreditation. Accessed May 2026.
- The Perth Mint, About, Government ownership, establishment year. Accessed May 2026.
- FINRA Investor Alert: Precious Metals Fraud, Fraud patterns in precious metals retail market. Accessed May 2026.
- Augusta Precious Metals public website, Sourcing process and accreditations cited. Accessed May 2026.
Data freshness: Facts, fees, BBB ratings, regulations, and company policies referenced in this guide were verified at the time of publication. These change; verify directly with the provider, IRS.gov, or regulatory agency before any purchase or filing decision.