The short answer: A precious metals IRA is a self-directed IRA that can hold IRS-approved gold, silver, platinum and palladium. Gold is the most common choice, but silver is cheaper per ounce and more industrial, while platinum and palladium are smaller, more volatile markets. Most investors who use one hold mostly gold with some silver.
What is a precious metals IRA?
It is the broader name for what most people call a gold IRA. The account is a self-directed IRA run by a specialized custodian, and the metal sits in an IRS-approved depository. It can be a traditional, Roth or SEP IRA, and the usual IRA contribution and distribution rules apply. For 2026, that means a $7,500 contribution limit plus a $1,100 catch-up at age 50 or older. Rollovers and transfers from other retirement accounts do not count toward the limit.
For a full walkthrough of custodians, storage and setup, see our complete gold IRA guide.
How do gold, silver, platinum and palladium compare?
| Metal | IRS minimum fineness | What drives the price | Things to know |
|---|---|---|---|
| Gold | .995 | Investment demand, central bank buying, inflation and currency fears | Largest, most liquid market; the usual core holding |
| Silver | .999 | Investment demand plus heavy industrial use, including solar panels and electronics | Lower price per ounce; historically more volatile than gold; bulkier to store |
| Platinum | .9995 | Industrial and auto catalyst demand, jewelry, mine supply from a few countries | Smaller market; prices can swing sharply |
| Palladium | .9995 | Mostly gasoline car catalytic converters | Very concentrated demand and supply; the most volatile of the four |
Because industrial demand plays a bigger role for silver, platinum and palladium, those metals can fall during recessions even when gold holds up. That is why gold is usually treated as the anchor.
Which products qualify?
- Gold: American Gold Eagle and American Gold Buffalo coins, Canadian Gold Maple Leaf coins, and bars from approved refiners.
- Silver: American Silver Eagle and Canadian Silver Maple Leaf coins, and approved bars.
- Platinum and palladium: American Platinum Eagle and American Palladium Eagle coins, and approved bars.
Rare, collectible and graded coins do not qualify. If an IRA buys a collectible, the IRS treats the purchase price as a taxable distribution. Ask your custodian to confirm any product before you buy.
How should you split a precious metals IRA?
There is no official formula, but a few practical points help:
- Start with gold as the main holding for stability and liquidity.
- Add silver if you accept more swings. It can rise faster than gold in strong markets and fall harder in weak ones.
- Keep platinum and palladium small, if any. They behave more like industrial commodities.
- Watch storage costs. The same dollar amount of silver takes far more space than gold, and some depositories charge by value or by volume.
- Compare markups by product. Smaller coins and specialty items often carry higher premiums than standard bullion.
What are the risks?
- No income: metals pay no interest or dividends.
- Price swings: all four metals can drop sharply and stay down for years.
- Fees: setup, custodian and storage fees, plus dealer spreads when you buy and sell.
- Sales pressure: some dealers push high-markup products. Read our guide to gold IRA scams first.
How do you get started?
Request information from a few companies, compare their fees and markups in writing, and confirm which custodian and depository they use. If you want to start with our partner, you can request a free information kit below.
Frequently asked questions
What is the difference between a gold IRA and a precious metals IRA?
They are the same type of account. A precious metals IRA can hold gold, silver, platinum and palladium, and most people call it a gold IRA because gold is the most common holding.
Can I hold silver in my IRA?
Yes, if it is at least .999 fine or an approved government coin such as the American Silver Eagle, and it is stored with an approved depository.
Is silver or gold better for an IRA?
Gold is usually the more stable, liquid core holding. Silver is cheaper per ounce but more volatile and bulkier to store. Many investors hold mostly gold with some silver.
Can I add platinum or palladium to my gold IRA?
Yes, approved bullion of .9995 fineness and coins such as the American Platinum Eagle and American Palladium Eagle can be held. They are smaller, more volatile markets.
Do precious metals IRAs have different limits than regular IRAs?
No. They share the same limits: $7,500 for 2026, plus $1,100 at age 50 or older, across all your IRAs.
Source: IRS guidance on collectibles in retirement accounts. This article is general education, not investment advice.