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Only gold coins that are legal tender with 0.9999 fineness are allowed in a Precious Metal IRA, with the exception of the American Gold Eagle, which has a fineness of 0.9167.

Other gold coins allowed to be put into an IRA include the American Buffalo, Canadian Gold Maple Leaf, and Australian Gold Nugget. The popular South African Krugerrand is not permitted to be included in an American IRA because it’s fineness is only 0.9167. The regulations that govern gold contributions to IRAs call for a minimum purity of only 0.995, but most gold bullion bars are 0.9999 pure. Allowed- Minimum Fineness Required 0.995

Below is a list of gold products that are acceptable for being held in a precious metal IRA account:

• American Eagle coins
• Australian Kangaroo/Nugget coins
• Austrian Philharmonic coins
• British Britannia (2013 – current)
• Canadian Maple Leaf coins
• Credit Suisse Pamp Suisse Bars 0.999
• U.S. Buffalo Gold Uncirculated coins (no Proofs)
• Bars and rounds manufactured by a NYMEX or COMEX approved refiner/assayer or national government mint and meeting minimum fineness requirements

Not Allowed

Examples of unacceptable gold products for being held in a precious metal IRA account:

• Austrian Corona and Ducat
• Belgian Franc
• British Sovereign
• Chilean Peso
• Columbian Peso

“Slabbed” coins are not permissible.

Reporting Requirements

This is one of the areas where people have the most number of questions. Of course, this information can change at any time. We are not an accounting firm, registered accountants, attorneys, or tax experts. This information is intended to assist you and is not intended to be used as sole guidance for complying with these regulations. You should always contact your accountant, CPA or attorney with any tax questions, issues or concerns.

The only reporting requirement when purchasing Precious Metals currently involves cash and money orders. You can purchase up to a maximum of $9999 in cash or money order without having to fill out the form 8300 to report the transaction to the IRS. If you write a personal check or wire funds there are no reporting requirements regardless of your purchase size. We do not accept cash or money orders under any circumstances.

The reporting requirements on the selling side are more complicated. This is where the 1099-B form may apply when liquidating certain items. The question involves the type and quantity of product that you are liquidating. A brief summary of reportable and non-reportable gold products and quantities follows. Reportable Gold The following require a 1099-B to be issued when you sell the listed coins, bars or certificates in the quantities listed by the end of the calendar year. A combination of the above products that together go above the limits also count for reporting purposes. For example, if you were to liquidate 12 Canadian Maple Leafs and 13 ounces of South African Krugerrands in one calendar year, you would be be required to report this transaction.

• Austrian Gold Philharmonics: 25+ ounces per year
• Canadian Gold Maple Leafs: 25+ ounces per year
• Fungible Gold Certificates: 32.15+ ounces per year
• South African Gold Krugerrand: 25+ ounces per year
• 24kt. Gold Bars: 32.15+ ounces per year

Non-Reportable Gold

There are many more gold products that fall into this category. However, these are the most popular ones.

• American Gold Buffaloes
• American Gold Eagles
• Austrian 100 Coronas
• British Sovereigns
• French 20 Francs
• Mexican 50 Pesos
• Swiss 20 Francs

*We are not an accounting firm, registered accountants, attorneys, or tax experts. This information is intended to assist you and is not intended to be used as sole guidance for complying with these You should always contact your accountant, CPA or attorney with any tax questions, issues or regulations. concerns.*

In Summary:

Bullion Bars

• “Premium” currently 3.25% -5.00% over spot price
• Easy to store and transport
• Currently allowed in U.S. self-directed IRA’s if certain requirements are met
• Easy to identify due to identifying information stamped on each bar “the larger the bar, the lower the premium” if purchasing as a store of value, “the larger the coin, the lower the premium” if purchasing for barter potential – Not legal tender

Bullion Coins

• “Premium” currently 3.75% -6% over spot price for 1 troy ounce coin products
• Legal tender
• Backed by the producing government for content and purity
• Easy to store and transport
• Globally recognized highly liquid
• Currently allowed in U.S. self directed IRA’s (Krugerrands excluded)
• Considered as having physical “beauty”
• Fractional sizes have higher premiums. “The smaller the coin, the larger the premium”
• Gold, Silver, Platinum, & Palladium bars must be fabricated by NYMEX or COMEX approved refiners or national government mint.
• (source: www.iracentral.com)