Home Storage Gold IRAs: Are They Legal?

storing gold at home
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IRAs (Individual Retirement Accounts) are essential for navigating your life after your career. An IRA allows you to save money over time and have less to worry about when retirement finally comes around. 

In recent years, home storage gold IRAs have become increasingly popular. Many individuals wonder whether the process is legal or acceptable to the IRS.

The bottom line? Gold IRAs are legal sometimes, but some laws prohibit them in certain circumstances.  Read on for more information on home storage gold IRAs, their legality, and navigating the IRS regulations.

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What is a Home Storage Gold IRA & is it Legal? 

A home storage gold IRA involves purchasing gold or precious metals with your IRA funds and keeping them in your home - customarily in a deposit box or safe.

However, the process is not as simple as it sounds.  The IRS has not approved all precious metals for home storage. Furthermore, they have announced that dealing with your own IRA gold goes against IRA regulations. 

If the gold resides in a bank or other IRS-trusted institution, it becomes lawful. But you cannot keep IRA gold in your home legally. These rules also apply to LLCs.


Of course, as with most legal issues, there are exceptions to these regulations. Below are the exceptions in the IRS code regarding home storage gold IRAs.

 Coin Type



 Amount of Gold

 $50 gold coin

 32.7 millimeters

 33.931 grams

 1 Troy ounce

 $25 gold coin

 27 millimeters

 16.966 grams

 0.5 Troy ounce

 $10 gold coin

 22 millimeters

 8.483 grams

 0.25 Troy ounce

 $5 gold coin

 16.5 millimeters

 3.393 grams

 0.10 Troy ounce

Troy ounce is a unit of measurement first established in the middle ages. It is slightly heavier than the standard ounce in use today. 

Other precious metals exempt from the IRS rule are certain silver coins and some platinum. While these metals may be exempt, you still have to keep them in a trustee location or bank.

You cannot keep them in your home as an IRA.


If you’re wondering why you cannot keep your gold in your home as your IRA, the IRS states that gold is a collectible item. Their regulations prohibit using collectibles as currency in IRA accounts. 

The reason this rule exists? People may not report their funds or gold storage supply and therefore evade taxes. If you have gold that falls under the coins listed above and want to use them in an IRA, take it to a bank ASAP!


We don’t want to scare you, but there are penalties associated with home gold storage IRAs. A few include: 

Yes, storing gold in your home for an IRA may lead to the dreaded audit. If you get audited by the IRS, you will most likely endure multiple fines and fees - depending on how much they find.

How Does a Gold Home Storage IRA Account Work?

If you still want to invest in gold for your IRA (legally), the process is relatively complex but doable. The IRS calls it a Gold IRA - notice the home storage aspect no longer exists.

First, open a self-directed IRA. This IRA variation allows you to hold value in items that a standard IRA does not. Real estate, precious metals, and businesses fall under the self-directed IRA category. 

Next, fund the Gold IRA account with cash or roll over all or some of an existing 401k account into your new IRA account. Note that the maximum contribution to a gold storage IRA is $7,000 per year. 

After you have funds in your account, you can use that cash to purchase precious metals. The bank will control all disbursements and IRS reports, so you do not need to worry about legality. 

A Gold IRA follows the same tax rules as other IRAs. You cannot withdraw funds from your IRA account until age 59.5 (the IRS calls it retirement age).

If you attempt to extract money before that, the 10% fee ensues.

Other Gold IRA Types

There are a few subsets of Gold IRA, such as a Roth Gold IRA or SEP Gold IRA.

Roth Gold IRA

A Roth Gold IRA is almost the absolute opposite of the traditional Roth IRA. Gold Roth IRAs require that you pay taxes on any money you contribute. 

The upside? The money in the account grows tax-free, and you can withdraw money with no penalties when you reach retirement age. However, the funds are not tax-deductible.


The only difference between a SEP Gold IRA and a traditional Gold IRS is its audience. The SEP Gold IRA gears toward small business owners and allows the account owner to provide funds to employees. 

Final Thoughts

Home storage gold IRAs are legal but come with many rules and regulations. Remember to always deposit gold or other precious metals into an IRA account at a bank and never at your home. 

Investing in your future is never a bad idea - ensure you do it the right way to reap the benefits when retirement comes around!

Home Storage Gold IRA FAQ's

Are you still curious about the legality of home storage gold IRAs? Below are common questions from other prospective investors.

Should I invest in a home storage gold IRA? 

The short answer is no. While it is legal to buy gold and have it in your home, it is not permissible to fund an IRA from your residence.

Signing up for a Gold IRA account at your bank or IRS trustee is the best way to invest in gold without facing penalties from the IRS.  

How can I find more information about these types of IRAs? 

Your best bet is to check the IRS. They have tons of resources and answers to complicated financial questions, so you can be 100% sure a Gold IRA is right for you.

Noble Gold

Noble Gold Investments founded in 2017 by two industry veterans who wanted to create a different type of precious metals companies that educated their customers and made sure each client was 100% satisfied with their investment decision.

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