{"id":29558,"date":"2023-08-31T15:00:35","date_gmt":"2023-08-31T22:00:35","guid":{"rendered":"https:\/\/www.advantagegold.com\/?p=29558"},"modified":"2023-08-31T15:00:35","modified_gmt":"2023-08-31T22:00:35","slug":"what-are-the-approved-precious-metals","status":"publish","type":"post","link":"https:\/\/www.advantagegold.com\/blog\/what-are-the-approved-precious-metals\/","title":{"rendered":"What Are The Approved Precious Metals?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><strong><a href=\"https:\/\/www.advantagegold.com\/approved-precious-metals\/\">IRA-approved precious metals<\/a><\/strong> are specific gold, silver, platinum and palladium\u2014bullion bars and coins\u2014that meet stringent standards set by the IRS. Therefore, you can hold them in an individual retirement account.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Understanding what are the four precious metals eligible for an IRA may help you decide which metals are right for you.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To help ensure the long-term health of your individual retirement account, the IRS puts strict guidelines on the purity, condition, and origin of allowable precious metals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Eligible coins must:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Originate from government mints<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Be new, uncirculated, and in perfect physical condition<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Come in their original packaging and include their certificate of authenticity.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bars and rounds must be manufactured by approved assayers and companies, all of which are publicly traded on the COMEX and other exchanges.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Each precious metal has its own minimum purity standard set by the IRS. They are as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gold: 99.5% pure<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Silver: 99.9% pure<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Platinum: 99.95% pure<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Palladium: 99.95% pure<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Neither jewelry, scrap metal, nor pirate ship gold is allowed in an IRA. Only investment-grade, pure, clean metals that will last a lifetime make the cut.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Throughout this educational guide, we will help you answer the following questions:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What are the four precious metals?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How many precious metals are there?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What metals are IRA-approved precious metals?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What metals are not IRA approved?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How to invest in precious metals?<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">What Are Precious Metals?\u00a0\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">What are precious metals, and what makes them precious?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Precious metals are rare, naturally occurring metallic elements. They hail from the earth and have a high economic value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most precious metals are highly conductive, non-corrosive, malleable, and have a beautiful shine. The finest jewelry is usually fashioned from precious metals and may be paired with rare gemstones.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There is a global market for precious metals, which many nations use to mint their flagship coins. High-quality coins originating from government mints are typically easy to liquidate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While useful, metals such as steel, copper, iron, and aluminum are not considered precious metals.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How Many Precious Metals Are There?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are eight naturally occurring precious metals:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Gold<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Silver<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Platinum<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Palladium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rhodium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ruthenium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Iridium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Osmium<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The only IRA-approved precious metals are the four primary metals.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What Are the Primary Precious Metals?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The four primary precious metals\u2014gold, silver, platinum, and palladium\u2014are the ones most commonly used for jewelry, industry, and coinage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Each metal has its own set of properties and perceived value.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">1. Gold\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Gold needs no introduction. From the time of ancient civilizations on, humans have always had a fascination with gold.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From its alluring color and non-corrosive, everlasting nature to its conductivity, gold finds many ways into the hearts of humankind.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Uses for gold include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Coinage and financial transactions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Jewelry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Electronics (conductors, connectors, circuitry)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dentistry (fillings, bridges, crowns, orthodontics)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Aerospace (circuitry, protective coatings)<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">2. Silver\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Often thought of as gold\u2019s younger sibling, silver has had a growth spurt. It has never been more in demand than it is now.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the most useful precious metals, silver has become almost indispensable for modern living.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In our tech-driven age, silver\u2019s high electrical and thermal conductivity put it front and center in the manufacturing world. Almost every piece of electronics you touch relies on silver to function.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Silver is now used in:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Jewelry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Coinage and financial transactions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Solar panels<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cell phones<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Computers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Batteries\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dentistry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cars<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Electrical contacts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Photography<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">3. Platinum\u00a0\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><strong><a href=\"https:\/\/www.advantagegold.com\/blog\/how-are-precious-metals-similar-to-gems\/\">Like other precious metals, platinum is often paired with rare gemstones.<\/a><\/strong> Its shiny white metallic luster makes it a favorite for some of the most elite jewelry pieces in the world. But platinum is used in many other ways.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One of the most rare elements in the earth, platinum is strong, nontoxic, stable, and extremely dense. It is also a great conductor of electricity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/sciencestruck.com\/common-uses-of-platinum\" target=\"_blank\" rel=\"noopener\">Platinum<\/a> is used in:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dentistry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Catalytic converters<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Coinage and financial transactions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Jewelry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Electronics<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cell phones<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pacemakers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Optical fibers<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">LCD displays<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This rarest of rare metals has a prominent and permanent place in our everyday lives.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Palladium\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Palladium may be the least known of the primary metals, but it is the most expensive.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Primarily used in catalytic converters, palladium is instrumental in turning atmospheric pollutants into less harmful water vapors and carbon dioxide.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Small amounts of palladium are also used in:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Coinage<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dentistry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Fuel cells<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Jewelry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Groundwater treatment<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">Other Approved Precious Metals\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">There are four precious metals that are not allowed in the precious metals IRA. They are:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rhodium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ruthenium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Iridium<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Osmium<\/span><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.rsc.org\/periodic-table\/element\/45\/rhodium#:~:text=A%20hard%2C%20shiny%2C%20silvery%20metal.&amp;text=The%20major%20use%20of%20rhodium,acetic%20acid%20and%20hydrogenation%20reactions\" target=\"_blank\" rel=\"noopener\"><strong>Rhodium<\/strong> reduces <span style=\"font-weight: 400;\">nitrogen oxide in exhaust gasses. It is used in catalytic converters, and as a catalyst in the chemical industry.<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.google.com\/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwiJoOe3kt2AAxX4hu4BHWfRA3QQFnoECBYQAw&amp;url=https%3A%2F%2Fwww.britannica.com%2Fscience%2Fruthenium%23%3A~%3Atext%3Druthenium%2520(Ru)%252C%2520chemical%2520element%2C%252C%2520harder%252C%2520and%2520more%2520brittle.&amp;usg=AOvVaw36KJIgx4hi3SEyWVkuFw2S&amp;opi=89978449\" target=\"_blank\" rel=\"noopener\"><b>Ruthenium <\/b><span style=\"font-weight: 400;\">has a high melting point. It is used to harden platinum and palladium\u2014making those metals more useful for jewelry and metal contacts.<\/span><\/a><b>\u00a0<\/b><\/p>\n<p><a href=\"https:\/\/www.chemicool.com\/elements\/iridium.html\" target=\"_blank\" rel=\"noopener\"><strong>Iridium<\/strong> is <span style=\"font-weight: 400;\">the most corrosion-resistant metal known to man. It is used in compass bearings, pen tips, and equipment that is used in high temperatures.<\/span><\/a><\/p>\n<p><a href=\"https:\/\/www.webelements.com\/osmium\/\" target=\"_blank\" rel=\"noopener\"><strong>Osmium<\/strong> has <span style=\"font-weight: 400;\">the highest melting point of the platinum group of metals. It is used to harden other platinum family metals, and in electrical contacts.<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">These metals are all valuable and useful. In fact, rhodium is the most expensive of all the precious metals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, why aren\u2019t they IRA-approved precious metals? One theory is that the markets for these metals are nowhere nearly as robust. There is often a huge gap between bid price and ask price\u2014what a buyer is willing to pay and what a seller is willing to accept\u2014and that gap can make it difficult to liquidate positions.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Investment Considerations with Precious Metals\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Many investors turn to precious metals in an individual retirement account to gain protection from:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">High inflation\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Geopolitical strife\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stock market uncertainty\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Economic recession<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><strong><a href=\"https:\/\/www.advantagegold.com\/blog\/how-to-invest-in-precious-metals\/\">Physical precious metals in your IRA<\/a><\/strong> are real and tangible\u2014you can hold them in your hands.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A non-correlated asset, they are not tied to stocks and paper investment products.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">History has shown that in times of stock market corrections and full economic recessions, precious metals tend to increase in value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors often turn to metals as a safe-haven investment during times of tumult.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When inflation rates are high, your precious metals IRA can give you a way to preserve your wealth.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because metals are priced in dollars, the cost of precious metals rises along with the cost of goods and services during periods of high inflation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Owning a tangible asset gives investors some peace of mind. Your IRA-approved precious metals are the same precious metals that have been on or in the earth throughout time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They have always had value, likely will not go to zero, and cannot be erased at the push of a button.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Invest in IRA-Approved Precious Metals with Advantage Gold\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Advantage Gold makes it easy to own IRA-approved precious metals. Your highly trained account executive will walk you through the application process.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From there, our award-winning IRA department will do all the heavy lifting to create your new self-directed precious metals IRA.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After your representative educates you on eligible precious metals, you choose the metals you want to own and purchase them through your executive.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The metals are then boxed, shipped, insured, and sent to the depository (vault) of your choice.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">They will sit, in the vault, on a shelf, with your name on them, until you\u2019re ready for them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s that easy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Call or <strong><a href=\"https:\/\/advantagegold.com\/contact\">contact us<\/a><\/strong> today. We\u2019re here, and we\u2019re happy to help. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IRA-approved precious metals are specific gold, silver, platinum and palladium\u2014bullion bars and coins\u2014that meet stringent standards set by the IRS. Therefore, you can hold them in an individual retirement account.\u00a0 Understanding what are the four precious metals eligible for an IRA may help you decide which metals are right for you.\u00a0 To help ensure the [&hellip;]<\/p>\n","protected":false},"author":18,"featured_media":30325,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[127],"tags":[1259,1260,1261],"class_list":["post-29558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ira","tag-how-many-precious-metals-are-there","tag-ira-approved-precious-metals","tag-what-are-the-precious-metals"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts\/29558"}],"collection":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/comments?post=29558"}],"version-history":[{"count":0,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/posts\/29558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/media\/30325"}],"wp:attachment":[{"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/media?parent=29558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/categories?post=29558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.advantagegold.com\/wp-json\/wp\/v2\/tags?post=29558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}