Who is eligible for a precious metals IRA?

Eligibility for a precious metals IRA follows the same rules as any other IRA under IRS regulations. If you qualify to contribute to a traditional or Roth IRA, you qualify to open a precious metals version of that account.
For a traditional precious metals IRA, you must have earned income from employment or self-employment. There is no upper age limit for contributions under current law. You can contribute at any age as long as you have earned income to cover the contribution amount. Contributions may be fully or partially tax-deductible depending on your income and whether you or your spouse have access to an employer-sponsored retirement plan.
For a Roth precious metals IRA, you also need earned income, but there are income limits that affect eligibility. For 2025, the ability to contribute to a Roth IRA begins to phase out at modified adjusted gross income of $150,000 for single filers and $236,000 for married couples filing jointly. At incomes of $165,000 for single filers and $246,000 for married couples, direct Roth contributions are no longer permitted. High earners can still access Roth benefits through a backdoor Roth strategy, which involves contributing to a traditional IRA and converting to a Roth.
Rollovers into a precious metals IRA from an existing retirement account have their own eligibility rules. You can roll over funds from a 401k from a previous employer regardless of your income. Rollovers from an active 401k typically require the plan to allow in-service distributions, which varies by plan. Rollovers between IRAs have no income restrictions.
Self-employed individuals have additional options. A SEP precious metals IRA allows much higher contribution limits than a standard IRA, up to 25 percent of net self-employment income with a cap of $70,000 for 2025. This can be a powerful vehicle for self-employed investors who want to build significant precious metals holdings inside a retirement account.
Spouses who do not have earned income can still contribute to a spousal IRA, including a precious metals version, if their working spouse has sufficient earned income to cover both contributions.
The eligibility rules are straightforward, but making sure your contributions fit within income limits and overall retirement savings limits is worth confirming with a tax professional.