Gold IRA Glossary - Plain-English Definitions From Allocated to Troy Ounce (2026)

Gold IRAs come with their own vocabulary, drawn from retirement accounts, banking and the precious metals trade. This glossary defines the terms you're most likely to see in fee schedules, rollover forms and sales conversations, with links to our full guides where you'll want more detail.

A–C

Allocated Storage

Storage where specific metal is held for your account rather than a general claim on a dealer's stock. Both segregated and properly run non-segregated IRA storage are allocated. See segregated vs non-segregated storage.

American Gold Eagle

The U.S. Mint's flagship gold bullion coin, 22-karat and containing one troy ounce of pure gold in its one-ounce size. Allowed in IRAs by law. See American Gold Eagle vs Buffalo.

Assay

A test that measures a metal's purity. Larger bars often come with an assay certificate from the refiner.

Bullion

Gold or silver valued mainly for its metal content, such as standard coins and bars, as opposed to collectible coins.

Buyback

A dealer's purchase of metal back from you. Buyback prices are usually set near spot, minus a spread, and are a policy rather than a guarantee. See how to sell a gold IRA.

Catch-Up Contribution

An extra amount savers aged 50 and older can contribute to an IRA each year: $1,100 for 2026. See gold IRA contribution limits.

Collectible

Under IRS rules, items such as artwork, rare coins and most numismatic coins. Buying collectibles in an IRA is treated as a taxable distribution, but approved bullion is exempt.

Custodian

The IRS-approved bank or trust company that holds and administers your self-directed IRA. It processes transactions you direct and files tax forms, but doesn't advise you. See gold IRA custodians.

D–I

Depository

A secure, insured vault that stores IRA metal on behalf of your custodian. See gold IRA storage and Delaware Depository.

Direct Rollover

A move of money from an employer plan straight to your new IRA custodian, with no tax withholding and no 60-day deadline.

Disqualified Person

Someone, such as you, your spouse, parents or children, who can't transact with your IRA. See gold IRA prohibited transactions.

Fineness

Purity expressed in parts per thousand, such as .9999 or .995. See gold purity and karats.

Gold IRA

A self-directed traditional or Roth IRA that holds physical, IRS-approved precious metals. See Gold IRA: How It Works.

In-Kind Distribution

Taking metal itself out of your IRA rather than cash. For a traditional IRA, its fair market value is taxable income.

Indirect Rollover

A rollover where money is paid to you first; you have 60 days to deposit it into an IRA. See IRA transfer vs rollover.

In-Service Rollover

A rollover from your current employer's plan while you're still working, if the plan allows it. See in-service 401(k) rollover.

K–P

Karat

A measure of gold purity in 24 parts; 24-karat is essentially pure, 22-karat is 91.67%.

Non-Segregated Storage

Also called pooled or commingled storage: your metal is stored alongside identical items owned by others, and you receive equivalent items back.

Numismatic Coin

A coin valued for rarity, condition or history rather than metal content. Generally not allowed in IRAs.

Premium

The amount you pay above spot price for a coin or bar. See gold premiums and spreads.

Prohibited Transaction

An improper use of IRA assets, such as taking personal possession of IRA metal, that can disqualify the whole IRA.

Proof Coin

A specially struck coin with a mirror finish, sold at a high premium. See proof coins vs bullion for an IRA.

R–S

Required Minimum Distribution (RMD)

The minimum you must withdraw each year from a traditional IRA, starting at 73 or 75. See gold IRA RMD calculator.

Rollover

Moving money from one retirement account to another without tax when done correctly. See gold IRA rollover.

Roth Gold IRA

A gold IRA funded with after-tax money, with tax-free qualified withdrawals and no RMDs for the original owner. See Roth gold IRA.

Segregated Storage

Storage where your exact coins and bars are kept separately and returned to you.

Self-Directed IRA

An IRA whose custodian allows alternative assets such as precious metals. See self-directed IRA.

Spot Price

The current wholesale market price for gold or silver.

Spread

The difference between a dealer's selling and buying price on the same product: your round-trip cost.

T–Z

Transfer

A custodian-to-custodian move between IRAs of the same type, with no tax, no withholding and no frequency limit.

Troy Ounce

The standard unit for precious metals, about 31.1 grams, roughly 10% heavier than an ordinary ounce.

Uniform Lifetime Table

The IRS table of life-expectancy factors most IRA owners use to calculate RMDs.

Using This Glossary

Table: Terms you'll see at each stage | Stage | Key terms | |---|---| | Choosing a company | Custodian, depository, premium, spread, buyback | | Moving money | Rollover, transfer, direct rollover, indirect rollover | | Buying metal | Spot price, fineness, karat, bullion, proof coin | | Holding | Segregated, non-segregated, allocated storage | | Withdrawing | RMD, in-kind distribution, Uniform Lifetime Table |

If a salesperson uses a term you don't recognize, ask them to explain it, and check it here. A clear explanation is a good sign; vagueness is a reason for caution. See questions to ask a gold IRA company.