When it comes to investing in gold, how do you know what products are IRA approved and which ones are not? You would think that any gold product would be eligible for investing in with IRA funds, but the truth is somewhat different from that ideology. The IRS has rules that govern what you can invest in with your precious metals IRA and what you cannot. This helps to ensure that the value of your investments coincide with market values and prevents you from being scammed by an unscrupulous company that is offering inferior grade gold products. Here are a few things that you need to know about IRA approved gold & silver. Silver products must have a fineness of 0.999. The fineness of a silver product refers to the amount of silver contained in that particular product. A fineness of 0.999 means that the product is 99.9% pure silver. Not all silver products are eligible, even if they meet the fineness test. There are only certain types of silver bullion that qualify for deposit into an IRA account. These include the American Eagle Silver Coin, the Canadian Silver Maple Leaf Coin, Austrian Silver Vienna Philharmonic Coin, Mexican Silver Libertad Coin and the Australian Kookaburra Silver Coin. 99.9% pure silver bars from approved mints and refiners are also approved. Other products, even if they meet the 0.999 fineness litmus test are not eligible. Gold products must have a fineness rating of 0.995. As with silver, the fineness of gold refers to the amount of gold contained in the product. A gold coin with a fineness of 0.995 is 99.5% pure gold. Not all gold products, even those meeting the fineness test, are eligible for deposit into an IRA. Eligible gold products include the American Eagle Gold Coin, the Australia Kangaroo/Nugget Coin, the Australian Philharmonic Coin, the Canadian Maple Leaf Gold Coin, the Chinese Gold Panda Coin, the Proof American Eagle Coin, the American Buffalo Bullion Gold Coin, the Credit Suisse/PAMP Suisse Gold Bar and various other gold rounds and bars. Many products, even bullion that meets the .995 fineness test are not eligible for deposit in an IRA. Collectible coins or rare coins are ineligible for deposit into an IRA account. These include coins that have been graded or certified as meeting the fineness test. These include the Austrian Corona, the U.S. Buffalo Proof, the British Britannia, the Belgian 20 Franc, the Chilean 100 Peso, and many more. These are just a few of the rules that surround the investment and deposit of precious metals in an IRA. If you have specific questions regarding whether or not the gold or silver product you want to invest in meets the eligibility requirements for deposit in your IRA, it is always best to consult your IRA custodian before purchase. This ensures that the gold or silver bullion you are looking to purchase will actually be able to be deposited into your account. Precious Metals IRAs are a great way to grow your retirement savings while protecting it from loss during financial market instability. Learn more about IRA Approved Gold & Silver products here.