The difference
| Bullion | Proof | |
|---|---|---|
| How it's made | Struck once, in large volumes | Struck several times on polished dies |
| Look | Standard finish | Mirror background, frosted design |
| Packaging | Tubes or boxes | Capsule, case and certificate |
| Price over spot | Modest | Often many times higher |
| What a dealer pays back | Close to spot | Often not much more than bullion |
The cost problem
When you buy a proof coin, you pay for the gold plus the craftsmanship, packaging and collector appeal. When you sell, most dealers value it mainly for its gold. That gap is a loss you lock in on the day you buy, and gold has to rise substantially just to make it back.
Can proofs go in an IRA?
Some can. Proof versions of eligible government coins, such as proof American Gold Eagles, are allowed if they meet the rules and stay in their original packaging. But being allowed isn't the same as being a good deal. Graded or "slabbed" coins sold for their condition rating are treated as collectibles and aren't allowed at all.
Our recommended provider's free kit lists IRA-eligible bullion coins and bars. Ask for the premium over spot on anything you're offered. Best fit if you have $50,000 or more to diversify.
Request the Free KitIf someone recommends proofs
Being steered toward proof, commemorative or "limited mintage" coins is one of the most common red flags in the gold IRA industry. Ask two questions: what's the premium over spot, and what would you pay me for this coin tomorrow? If the answers are far apart, choose the bullion version instead.
When proofs make sense
If you collect coins for their beauty and are buying with spare money outside your retirement account, proofs can be enjoyable to own. Just treat them as a collectible, not a retirement investment.