Silver IRA in Texas: Rules and Eligible Coins
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Short on time? The essentials
- Same wrapper as any precious metals IRA. A silver IRA is a self-directed IRA holding IRS-approved silver at a qualified depository.
- Fineness floor is 99.9 percent for silver under IRC Section 408(m)(3), higher than the 99.5 percent gold floor.
- American Silver Eagles qualify by statute. Maple Leafs, Philharmonics, Kangaroos, and 2013-plus Britannias qualify under the general rule.
- Bars must come from a refiner accredited by NYMEX, COMEX, LBMA, or a national mint. Pre-1965 US 90 percent silver coins do not qualify.
- 2026 combined IRA contribution limit is 7,500 dollars, plus 1,100 dollars catch-up at age 50 or older.
- Texas has zero state personal income tax on IRA distributions, so RMDs and conversions face federal tax only.
- The Texas Bullion Depository stores IRA silver in segregated storage, insured by Lloyd’s of London, with Class 3 vault security.
- Equity Trust Company was the first self-directed IRA custodian to work with the Texas Bullion Depository under the non-bank trustee framework.
On this page
- What a silver IRA is under federal law
- Which silver coins are IRA-eligible in Texas
- Silver bars: fineness and refiner accreditation
- The Texas layer: no state income tax
- Storage: Texas Bullion Depository and other options
- Worked example: a 62-year-old Austin rollover
- How to open a silver IRA in Texas
- Estimate the fee drag on a Texas silver IRA
- When a silver IRA is a bad idea in Texas
- Frequently asked questions
What a silver IRA is under federal law
A silver IRA is not a separate account category. It is a self-directed IRA that holds IRS-approved silver bullion instead of stocks or bond funds. The wrapper is the same one used for gold, platinum, and palladium accounts under IRC Section 408.
The rule that lets silver enter the account sits in IRC Section 408(m)(3). Collectibles are prohibited inside an IRA, but bullion coins and bars are exempted when they meet a numeric fineness floor. For silver, that floor is 99.9 percent pure.
Two other requirements apply to the structure. A self-directed IRA custodian, meaning a bank or an IRS-approved non-bank trustee, must own the metal on your behalf. And the physical silver must sit at an IRS-approved depository, not at your address. Home storage triggered a full taxable distribution in the 2021 US Tax Court decision McNulty v. Commissioner.
The federal contribution limit and required minimum distribution rules apply to a silver IRA exactly as they do to a cash IRA. For 2026, the combined limit is 7,500 dollars per person, plus a 1,100 dollar catch-up at age 50 or older. RMDs begin at age 73 for those born from 1951 to 1959, and at age 75 for those born from 1960 onward.
Which silver coins are IRA-eligible in Texas
Texas does not add a state layer to what silver is IRA-eligible. The federal fineness rule is the ceiling and the floor. A coin either clears 99.9 percent or holds a named statutory exception, or it stays out of the account.
The American Silver Eagle is the clearest case. It is a 99.9 percent pure one troy ounce coin struck by the US Mint and named in IRC Section 408(m)(3) as an eligible bullion coin. Proof American Silver Eagles are also eligible when kept in the original US Mint packaging with the certificate of authenticity.
Several foreign sovereign coins clear the general rule without a named exception. The chart below places them against the 99.9 percent line.
| Coin | Mint | Fineness | IRA-eligible |
|---|---|---|---|
| American Silver Eagle (bullion) | US Mint | 99.9 percent | Yes, by statute |
| American Silver Eagle (proof) | US Mint | 99.9 percent | Yes, with original packaging and certificate |
| Canadian Silver Maple Leaf | Royal Canadian Mint | 99.99 percent | Yes |
| Austrian Silver Philharmonic | Austrian Mint | 99.9 percent | Yes |
| Australian Silver Kangaroo | Perth Mint | 99.99 percent | Yes |
| Australian Silver Kookaburra | Perth Mint | 99.9 percent | Yes |
| Mexican Silver Libertad | Casa de Moneda de México | 99.9 percent | Yes |
| British Silver Britannia (2013 or later) | The Royal Mint | 99.9 percent | Yes |
| British Silver Britannia (before 2013) | The Royal Mint | 95.8 percent | No; below the 99.9 percent floor |
| Pre-1965 US 90 percent silver coins | US Mint (historical) | 90 percent | No; below the 99.9 percent floor |
| Graded or slabbed silver coins bought for premium | Various | Varies | No; treated as collectibles under IRC 408(m) |
Compiled from IRC Section 408(m)(3), the US Mint American Eagle page, the Royal Canadian Mint Silver Maple Leaf page, the Austrian Mint Philharmonic page, the Perth Mint Kangaroo page, and The Royal Mint Britannia page. Checked June 2026.
Two silver products get flagged often and deserve a direct answer. Pre-1965 US 90 percent silver coins, sometimes marketed as junk silver, hold real melt value but sit below the 99.9 percent rule; they cannot enter a silver IRA. Older British Britannias struck before 2013 were 95.8 percent silver Britannia standard; they also fall short. The 2013-plus Britannia is 99.9 percent and qualifies.
Silver bars: fineness and refiner accreditation
Silver bars enter the account through the same 99.9 percent fineness floor, plus one extra check. The bar must come from a refiner or assayer that is COMEX or NYMEX-approved, LBMA-accredited, or a recognized national mint. The stamp on the bar must show the refiner, the weight, and the fineness.
Common IRA-eligible bar sizes are 1 troy ounce, 10 troy ounce, 100 troy ounce, and 1,000 troy ounce (the London good delivery bar). Most Texas retirees pick a mix of 10 ounce and 100 ounce bars for cost efficiency, with a small position in coins for divisibility at RMD time.
Any bar sold as investment grade is not automatically IRA-eligible. Before buying, verify the refiner is on the LBMA good delivery list or on the CME accepted brands list. Ask the dealer for a scan of the bar assay card or the mint certificate. If either is missing, the custodian may refuse the transaction on receipt.
The Texas layer: no state income tax
Article 8, Section 24 of the Texas Constitution prohibits a state personal income tax. Voters reinforced this in 2019 by passing Proposition 4, which made repeal require a two-thirds vote of each chamber of the Legislature. For a silver IRA, this changes how three federal events land.
Required minimum distributions
An RMD from a traditional silver IRA is taxed at your federal ordinary income rate for the year. In a state such as California with a 9.3 percent bracket at moderate income, the same RMD can face a full state income tax layer on top of the federal bill. In Texas, that state layer is zero. The federal amount is the total tax owed on the distribution.
Roth conversions
A Roth conversion of silver held in a traditional IRA is a taxable federal event in the year of conversion. Texas adds no state tax on top of the federal bill. Retirees who plan a multi-year conversion ladder often price the Texas move against a high-tax state of origin for this reason.
Early withdrawals before age 59 and a half
An early withdrawal from a traditional silver IRA before age 59 and a half generally triggers a 10 percent federal penalty plus ordinary federal income tax. Texas adds nothing to the penalty side. Federal exceptions still apply, including first home up to 10,000 dollars, qualified higher education, disability, and substantially equal periodic payments under IRC 72(t).
Sales tax on personal metals purchases
Texas exempts most precious metals purchases from state sales tax at the point of retail sale. This exemption matters mainly for personal cash purchases held outside an IRA, not for the IRA transaction itself, which is run through the custodian and shipped straight to the depository. It is a Texas fact worth knowing, not a silver IRA-specific rule.
Storage: Texas Bullion Depository and other options
Every silver IRA needs storage at an IRS-approved facility. Home storage is not allowed. The 2021 US Tax Court decision in McNulty v. Commissioner treated home-stored IRA metal as a full taxable distribution, including the 10 percent early-withdrawal penalty on the account owner. A Texas resident has several storage lanes; one is unique to the state.
Texas Bullion Depository through Lone Star Tangible Assets
The Texas Bullion Depository is an agency of the State of Texas, created by House Bill 483 of the 84th Legislature and signed by Governor Greg Abbott on June 12, 2015. Operations began in 2017 at a purpose-built campus in Leander, north of Austin, on roughly ten acres.
The depository is available for IRA storage through its operator, Lone Star Tangible Assets LP. The IRS requires IRA metal to sit with a bank or an IRS-approved non-bank trustee. Lone Star Tangible Assets received IRS non-bank trustee approval in 2023, which opened the state depository to IRA silver, gold, platinum, and palladium.
Storage at the state depository is segregated by default, meaning the exact bars and coins you deposit are the ones you get back. Assets are insured through Lloyd’s of London against theft, fire, flood, and natural disaster, with daily market value updates. The vault is Class 3 rated and features biometric access and on-site security personnel, per the depository’s IRA Storage Services page.
Equity Trust Company was the first self-directed IRA custodian to work with the depository under the non-bank trustee framework. A Texas resident who wants state-run storage typically opens the self-directed IRA at Equity Trust, chooses a dealer that partners with Equity Trust, and coordinates delivery to Leander. Fees are negotiated among the custodian, the dealer, and the depository contractor; ask for the written schedule before signing.
Private IRS-approved depositories
Silver IRA metal can also sit at private IRS-approved depositories outside Texas. Delaware Depository in Wilmington and International Depository Services in New Castle both hold IRA silver. In-state private options include the Texas Precious Metals Depository in Shiner, southeast of San Antonio, which offers segregated storage and third-party audits.
The trade-off between the state depository and a private one is philosophical as much as practical. The Texas Bullion Depository is state-audited and state-run through a private operator. A private depository is regulated at the federal level and audited by third parties. Both are IRS-approved when the paperwork is set up correctly.
Worked example: a 62-year-old Austin rollover
How to open a silver IRA in Texas
The five steps below apply to any Texas resident opening a silver IRA. They match the process a custodian and a dealer will actually run. Verify the current details with each party in writing before you commit.
- Choose a self-directed IRA custodian. The custodian must be a bank or an IRS-approved non-bank trustee. For Texas Bullion Depository storage, Equity Trust Company is the first custodian to work with the depository under the non-bank trustee framework.
- Fund the account. Options are a direct trustee-to-trustee transfer from another IRA, a direct rollover from a 401(k) or similar plan, or a new contribution up to the 2026 limit of 7,500 dollars plus 1,100 dollars catch-up at age 50 or older.
- Choose IRA-eligible silver products with your dealer. Common picks are American Silver Eagles by statute, Canadian Maple Leafs at 99.99 percent, and generic 100 troy ounce bars from an LBMA-accredited or COMEX-approved refiner. Ask for the spot reference and the total invoice on every order.
- Confirm the paperwork before purchase. The custodian will need product identification, the fineness stamp, and the refiner or mint name. Any coin or bar that fails these checks may be refused on receipt at the depository.
- Ship the metal to an IRS-approved depository. For a Texas resident who wants in-state state-run storage, the destination is the Texas Bullion Depository in Leander through Lone Star Tangible Assets. Private depositories in Delaware, Utah, and Texas are alternatives.
Estimate the fee drag on a Texas silver IRA
Silver takes many more ounces per dollar than gold, and depositories usually price storage by weight, market value, or account tier. Fee drag matters more on a silver-heavy IRA than on a gold-heavy one at the same dollar amount. Run the calculator once for your silver slice using the depository schedule you received in writing.
Texas gold IRA fee-drag calculator
Texas gold IRAs charge mostly flat dollar fees (setup, annual custodian, storage). Flat fees take a much bigger bite out of a small account than a large one. Enter your numbers to see the drag.
Estimate only. Fee amounts vary by provider and are often not published; enter figures you confirm in writing. This tool ignores metal price changes and the dealer spread, which also affect returns. Not financial advice.
When a silver IRA is a bad idea in Texas
A silver IRA fits some retirement plans and works against others. The cases below turn up over and over in the calls custodians and dealers describe. We list them with no call-to-action attached.
Small balance paying flat annual fees. An IRA under 15,000 dollars can pay a 350 to 500 dollar annual fee stack, meaning a silent 2 to 3 percent drag before any dealer markup on the buy. A brokerage IRA holding a silver ETF is usually cheaper at this size.
Silver-only concentration. Silver has a real industrial demand tail from electronics, solar, and medical applications, so its price responds to manufacturing cycles as well as monetary conditions. A retirement plan built around diversification usually pairs a silver slice with gold or with mainstream assets, not silver alone.
You expect to take the metal home. A silver IRA cannot store metal at your address in Texas, no matter what a promoter says. McNulty v. Commissioner is the tax court decision that closes this door. If direct custody matters more than the tax wrapper, a cash purchase is a different product.
You need cash flow from the account. Silver pays no dividend, no interest coupon, and no distribution. If your plan needs income from the account, a metal-only IRA is not the right vehicle for that job.
You need the money before age 59 and a half. An early distribution triggers a 10 percent federal penalty on top of ordinary federal income tax, unless a narrow exception applies. Texas removes the state tax layer but not the federal stack.
The dealer pushes graded, proof, or exclusive coins. Wide markups on numismatic or premium coins are the single most frequent way a silver IRA goes wrong. Common bullion coins and generic accredited bars carry tighter markups and a public spot reference.
Frequently asked questions
What is the silver purity requirement for an IRA?
Silver in a self-directed IRA must be at least 99.9 percent pure under IRC Section 408(m)(3). The American Silver Eagle at 99.9 percent qualifies by statute. Pre-1965 US 90 percent silver coins and older Britannias at 95.8 percent do not clear the threshold and stay outside the account.
Can I store silver IRA metal at the Texas Bullion Depository?
Yes. The Texas Bullion Depository is available for IRA silver storage through its operator, Lone Star Tangible Assets, which became an IRS-approved non-bank trustee in 2023. Storage is segregated and insured through Lloyd’s of London. Equity Trust Company was the first self-directed IRA custodian to work with the depository under this framework. Source: Texas Bullion Depository IRA Storage Services page, checked June 2026.
Which silver coins are IRA-eligible for a Texas resident?
The federal rule applies uniformly across states. Eligible coins include the American Silver Eagle, the Canadian Silver Maple Leaf, the Austrian Silver Philharmonic, the Australian Silver Kangaroo and Kookaburra, the Mexican Silver Libertad, and the British Silver Britannia struck from 2013 forward. Pre-1965 US coins, older Britannias, and graded numismatic pieces bought for premium value are not eligible.
Are pre-1965 US silver coins allowed in a silver IRA?
No. Pre-1965 US dimes, quarters, and half dollars contain 90 percent silver, below the 99.9 percent floor set by IRC Section 408(m)(3). They are sometimes called constitutional silver or junk silver. They can be held outside an IRA as a personal position, but a self-directed IRA cannot hold them.
Is silver storage more expensive than gold storage per dollar allocated?
Usually yes. Silver holds far more mass per dollar than gold, and most depositories price storage on weight, market value, or account tier. For the same dollar allocation, silver fills many more cubic inches of vault space and often lands in a higher fee tier. Ask each depository for a written silver and gold schedule side by side.
Do I pay Texas income tax on silver IRA distributions?
No. Article 8, Section 24 of the Texas Constitution prohibits a state personal income tax, and no state layer applies to a distribution from a silver IRA. Federal tax and, before age 59 and a half, the 10 percent federal penalty still apply as they do everywhere. Consult a tax advisor for your specific bracket and situation.
Can I hold both silver and gold in the same IRA?
Yes. A single self-directed IRA can hold silver, gold, platinum, and palladium at the same time, as long as each product meets IRC Section 408(m)(3). One custodian, one depository account, one fee stack. Rebalancing between the metals inside the account is not a taxable event as long as proceeds stay inside the IRA.
How is a silver IRA taxed when I take RMDs in Texas?
A traditional silver IRA RMD is federal ordinary income at your bracket for the year. The IRS calculates the amount using the Uniform Lifetime Table divisor and your prior-year December 31 balance across all IRAs. Texas adds no state income tax on top under Article 8, Section 24 of the Texas Constitution.
Sources
- Internal Revenue Service. Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs). irs.gov/publications/p590a. Checked June 2026.
- Internal Revenue Service. Publication 590-B: Distributions from Individual Retirement Arrangements (IRAs). irs.gov/publications/p590b. Checked June 2026.
- Internal Revenue Code Section 408(m). Collectibles rule and bullion exception. Office of the Law Revision Counsel. uscode.house.gov. Checked June 2026.
- Internal Revenue Service. Topic No. 558, Additional Tax on Early Distributions from Retirement Plans. irs.gov/taxtopics/tc558. Checked June 2026.
- Texas Bullion Depository. IRA Storage Services. texasbulliondepository.gov/ira-storage. Checked June 2026.
- Texas Bullion Depository. About the Depository Contractor (Lone Star Tangible Assets LP). texasbulliondepository.gov/about-depository-contractor. Checked June 2026.
- Texas Legislature. House Bill 483, 84th Regular Session (2015), Texas Bullion Depository Act. capitol.texas.gov. Checked June 2026.
- Texas Constitution, Article 8, Section 24. State personal income tax prohibition. statutes.capitol.texas.gov. Checked June 2026.
- United States Tax Court. McNulty v. Commissioner, 157 T.C. No. 10 (November 18, 2021). Home storage of IRA metal treated as a full taxable distribution.
- United States Mint. American Eagle Silver Coin Program specifications. usmint.gov. Checked June 2026.
- Royal Canadian Mint. Silver Maple Leaf bullion coin specifications. mint.ca. Checked June 2026.
- Austrian Mint. Silver Vienna Philharmonic bullion coin specifications. muenzeoesterreich.at. Checked June 2026.
- Perth Mint. Silver Kangaroo bullion coin specifications. perthmint.com. Checked June 2026.
- The Royal Mint. Silver Britannia bullion range specifications. royalmint.com. Checked June 2026.
- London Bullion Market Association. Good Delivery List for silver bars. lbma.org.uk. Checked June 2026.