The short answer
Yes. An IRA can hold silver bullion that’s at least 99.9% pure, as long as an IRS-approved trustee holds it, usually at a depository. The American Silver Eagle qualifies by law, and custodians generally accept other 999 coins and bars. Old circulated U.S. silver coins, often called “junk silver,” don’t qualify.
At a glance
| Minimum purity | 99.9% silver |
| Qualifies by law | American Silver Eagle (U.S. Mint) |
| Commonly accepted | Canadian Silver Maple Leaf, Austrian Silver Philharmonic, British Silver Britannia (2013 and later), 999 bars from approved refiners |
| Doesn’t qualify | 90% silver U.S. coins minted before 1965, most collector coins, silver jewelry |
| Storage | With the IRA’s custodian at a depository, never at home |
The rules for silver
A silver IRA follows the same rules as any precious-metals IRA. The tax code treats most coins and metals as collectibles, and an IRA that buys a collectible is treated as if it paid you the money. The exceptions cover U.S. Mint coins named in the law, which include the American Silver Eagle, and bullion that meets the purity standard for delivery on a regulated futures exchange. For silver, that’s 999 fineness, or 99.9% pure.
Bullion only counts if a bank or IRS-approved trustee has physical possession of it, which in practice means a depository your custodian works with. Our guide to keeping IRA gold at home explains why home storage fails, and the same applies to silver.
What qualifies, and what doesn’t
| Product | Silver content | IRA-eligible? |
|---|---|---|
| American Silver Eagle | 99.9% | Yes, named in the law |
| Canadian Silver Maple Leaf | 99.99% | Generally accepted |
| Austrian Silver Philharmonic | 99.9% | Generally accepted |
| British Silver Britannia, 2013 and later | 99.9% (earlier years were 95.8%) | Generally accepted from 2013 on |
| 999 silver bars from an approved refiner | 99.9% | Generally accepted |
| Pre-1965 U.S. dimes, quarters and halves | 90% | No |
| Silver collector and “rare” coins | Varies | Mostly no. Coins the law names, such as proof American Silver Eagles, are an exception many custodians accept. |
How silver differs from gold in an IRA
It takes up more room. Silver is worth far less per ounce than gold, so the same dollar amount is much heavier and bulkier. Some depositories charge storage by value and some by weight or space, so ask how your silver will be billed.
Premiums are often higher as a share of the price. Minting and shipping costs are similar per coin whether the metal is gold or silver, so on a cheaper metal they make up a bigger percentage of what you pay. Compare quotes on the premium over spot as well as the price per coin. Our guide to what bullion really costs explains premiums in detail.
The price tends to swing more. More than half of silver demand comes from industry, including electronics and solar panels. The Silver Institute put 2025 industrial demand at 657.4 million ounces out of about 1.13 billion ounces in total. That ties silver’s price partly to the economy, and its moves have historically been sharper than gold’s.
Setting up a silver IRA
The steps are the same as for gold. You open a self-directed IRA with a custodian that handles precious metals, fund it with a contribution or a direct rollover, and choose IRA-eligible silver from a dealer. The custodian pays the dealer and the metal goes to the depository. Our gold IRA guide covers the full process, fees and withdrawal rules, and the rollover guide covers moving money from a 401(k).
You can hold silver and gold in the same account. Many custodians treat it as one precious-metals IRA holding several metals.
Frequently asked questions
Can I put junk silver in my IRA?
No. Pre-1965 U.S. dimes, quarters and half dollars are 90% silver, below the 99.9% purity standard, and they aren’t among the coins the law names. Our junk silver guide explains how they’re bought and sold outside an IRA.
Are American Silver Eagle proof coins allowed?
Many custodians accept proof American Silver Eagles because the law names the coin, but they carry much higher premiums than the standard bullion version. Check with your custodian and compare the premium before you buy.
Can I hold silver and gold in one IRA?
Yes. A precious-metals IRA can hold any mix of IRA-eligible gold, silver, platinum and palladium.
Can I take my silver out of the IRA later?
Yes, as a distribution in kind. The coins or bars are shipped to you, and their market value that day is taxed like any other IRA distribution, plus the 10% additional tax if you’re under 59½ and no exception applies.
Sources
- 26 U.S. Code § 408(m), Investment in collectibles treated as distributions, via Cornell Legal Information Institute
- Internal Revenue Service, Investments in collectibles in individually directed qualified plan accounts
- CME Group, Precious metals physical delivery process, January 2025
- The Silver Institute, World Silver Survey 2026 press release, April 15, 2026
- The Silver Institute, Silver supply and demand