IRS Rules on Taking Possession of Coins and Bars
IRA metals must stay in an IRS-approved depository while your account remains active. You cannot store IRA coins at home before retirement. Once you reach the qualified distribution age, you may request delivery and take possession of coins and bars.
When Can I Take Possession of My Coins and Bars at Retirement?
At age 59½, you can take penalty-free distributions. You may choose either cash or metals. Many retirees keep the metals because they want a tangible asset in hand.
How to Take Possession of Coins and Bars at Retirement
1) Submit a Distribution Request
You tell your custodian that you want metals, not cash. The depository then prepares your eligible coins and bars for shipping or pickup.
2) Review Taxes Before You Receive Metals
The IRS taxes traditional IRA distributions as ordinary income. A qualified Roth IRA distribution can be tax-free. Talk with your tax pro if you are not sure.
3) Receive and Inspect Your Coins and Bars
The carrier delivers sealed packages. You open them, confirm contents, and store the metals safely. For example, many retirees place them in a home safe or a bank box.
Pros of Taking Possession of Coins and Bars at Retirement
- Tangible control: You hold the asset directly.
- Flexible storage: Home safe, bank box, or private vault.
- Easy liquidation: You can sell to dealers when you choose.
Cons of Taking Possession at Retirement
- Taxes apply: Traditional IRA distributions increase taxable income.
- Security duties: You must protect and insure the metals.
- No IRA shelter: After distribution, the assets no longer grow tax-deferred.
Can I Take Possession Before Retirement?
No. IRS rules block at-home storage for IRA metals while the IRA remains active. If you try to store metals at home early, you risk taxes, penalties, and loss of IRA status.
Work With a Specialized Provider
A seasoned provider makes the process simple from start to finish. Many investors use
Goldco to set up the account, manage approved storage, and arrange delivery when you retire.
Planning to take possession of your coins and bars at retirement?
Frequently Asked Questions
At what age can I take possession of my coins and bars?
You can request metals at 59½ without an early-withdrawal penalty.
Can I keep IRA coins at home before retirement?
No. You must use an IRS-approved depository until you take a qualified distribution.
Will I owe taxes when I take possession at retirement?
Traditional IRA distributions are taxable. Qualified Roth IRA distributions can be tax-free.
What metals can I receive?
IRS-approved coins and bars, such as American Eagles, Canadian Maple Leafs, and approved bullion bars.