The four precious metals allowed to be held in an individual retirement account are gold, silver, platinum and palladium, provided they are in the form of IRS-approved coin or bar products.
Internal Revenue Code requirements state that the approved precious metals must be stored in a specific manner.
There are currently a variety of precious metals that meet the minimum purity requirements that are acceptable for inclusion into a gold IRA account.
Numismatic coins pay the gold company higher commissions, but bullion bars more directly reflect the spot price of the precious metal.
"[2][3] All nonbank IRA trustees must demonstrate to the IRS that they will meet Treasury standards of accounting, auditing, reporting, and asset security.
[4] While Gold IRAs offer unique benefits, such as diversification and a hedge against inflation, they also come with specific risks and considerations that investors must evaluate.