Updated November 9, 2026 · Independent: we sell no metals and take no dealer money.

Proof and "exclusive" coins in a gold IRA: what regulators warn about

Short answer: Ordinary bullion coins and bars qualify for a gold IRA. You do not need proof, "premium," "semi-numismatic" or "exclusive" coins. Those coins usually carry much higher markups and are often bought back near metal value, so much of what you pay is lost the day you buy. Federal regulators list pushing them into retirement accounts as a common sign of a scam.

Why sellers push them

Bullion is a commodity: anyone can compare prices, so markups stay thin. Proof and "exclusive" coins are hard to price-compare, which lets the seller charge far more over metal value. The pitch often leans on fear: a coming crash, government "confiscation" of savings, or a claim that these coins are "IRS-approved" in a special way.

What enforcement cases show

71% average markup on silver coins when the agreement stated a maximum of 23% (CFTC settlement, 2023). Most of the money came from retirement savings.
100% to more than 300% of melt value charged by one dealer, per Wisconsin's Department of Financial Institutions.
The CFTC warns that some customers have lost half their investment to fees, and that if someone tries to sell you higher-priced "collectibles" for an IRA, the coins likely aren't rare.

Red flags

You're told proof or special coins are "required," "best" or "safer" for an IRA.
"Free silver" or a bonus with your order (it's usually paid for through the markup).
Pressure to move most or all of your retirement savings into metals.
Talk of government confiscation, or claims that metals "can't lose value."
No written price showing the markup over metal value and the buyback price.
"Home storage" IRA offers. IRA metals must be held by a qualified trustee or depository.

How proof coins change the math

Suppose gold is $4,000 an ounce and you buy 20 one-ounce proof coins at $6,900 each, $138,000 total. The gold is worth $80,000. If a dealer later buys them back at metal value, you've lost $58,000 on day one, and gold would have to rise about 73% before you break even, before any IRA fees. The same $138,000 in ordinary 1 oz bullion coins at a 4.5% markup would buy about 33 ounces instead of 20.

Being pitched proof or "exclusive" coins? Run the quote through the free Gold Pitch Check →

Where to report a problem

CFTC: 866-366-2382 or cftc.gov/complaint. In Florida, also the Office of Financial Regulation and the Attorney General's consumer line, 1-866-966-7226.

Sources

CFTC "Lies Versus Facts: The Truth Behind Gold and Silver IRA Scams": https://www.cftc.gov/sites/default/files/2024/03/MetalsIRALies_0.pdf
CFTC press release 8812-23 (Safeguard Metals): https://www.cftc.gov/PressRoom/PressReleases/8812-23
CFTC customer advisory on gold and silver IRA schemes: https://www.cftc.gov/LearnAndProtect/AdvisoriesAndArticles/CustomerAdvisory_COVID19PreciousMetals.htm
Wisconsin DFI investor alert: https://urbanmilwaukee.com/?p=722618

General education, not investment advice. We don't name or rate dealers; we check the numbers on your quote.