Yes, the American Palladium Eagle is IRA-eligible, but only as bullion. It holds 1 troy ounce of .9995 fine palladium, and the tax code names the gold, silver and platinum Eagles but not this one. "IRA-eligible" means an IRA can buy the coin without the purchase being taxed as a withdrawal. Bullion is metal valued for its weight and purity, and ".9995 fine" means 99.95% pure. So what changes when an Eagle gets in on purity instead of by name?
Two things change. Your custodian's list decides whether the coin can enter your account, and the coin sells at collector prices. On August 5, 2026 a bullion Palladium Eagle cost $2,394.49 at JM Bullion, a large online dealer. That was 71.7% more than the palladium in it. The Palladium Eagle is one of the coins checked in our database of IRA-eligible precious metals.
The legal route comes first, then the 2010 law that created the coin and the study that nearly stopped it. Specifications and all 11 issues follow, then custodian rules, 2026 costs, the Maple Leaf and bar comparison, and the sales pitches.
Is the American Palladium Eagle IRA-Eligible?#
Yes: the American Palladium Eagle is IRA-eligible under 26 U.S.C. 408(m)(3)(B), the bullion clause, as long as it is 99.95% pure and your IRA's trustee holds it. The trustee, also called the custodian, is the firm that holds the IRA: a bank, a state-supervised trust company or an IRS-approved nonbank trustee. The tax code treats coins and metals as collectibles. A collectible is anything an IRA may not buy without the purchase counting as a withdrawal.
The law makes two exceptions, and SafeOunce calls them Route A and Route B. Route A names specific coins, and no purity test applies to them. Route B covers bullion that is pure enough and held by the trustee (26 U.S.C. 408(m)(3)). Why does the route matter if the answer is yes? On Route B nothing in the law singles the coin out, so each custodian's list and packaging rules decide.
The table below sets the 4 US Mint Eagles against the 2 legal routes.
| Coin | Law that creates it (31 U.S.C.) | Named in 26 U.S.C. 408(m)(3)(A)? | Route | Purity test |
|---|---|---|---|---|
| American Gold Eagle | 5112(a)(7)-(10) | Yes, (A)(i) | A | None (22 karat is fine) |
| American Silver Eagle | 5112(e) | Yes, (A)(ii) | A | None |
| American Platinum Eagle | 5112(k) | Yes, (A)(iii) | A | None |
| American Palladium Eagle | 5112(a)(12), (v) | No | B only | .9995, and held by the trustee |
Sources: 26 U.S.C. 408(m)(3); 31 U.S.C. 5112. Read September 29, 2026.
The IRS says the same thing in fewer words. An IRA "can also invest in certain platinum coins and certain gold, silver, palladium, and platinum bullion" (IRS Publication 590-A, 2025).
The full list of IRA-approved precious metals follows the same two routes.
Why the Palladium Eagle Is Not a Named Coin in the Tax Code#
Because the list of named coins was finished in 1997 and the Palladium Eagle was created in 2010. Congress wrote the coin into the Mint law and never added it to the tax code's list.
The dates explain the gap. Gold and Silver Eagles joined the list for coins bought after December 31, 1986. State coins joined for coins bought after November 10, 1988 (Public Law 100-647, section 6057). Platinum coins and palladium bullion followed for tax years beginning after December 31, 1997 (Public Law 105-34, section 304). The Mint first sold the palladium coin on September 25, 2017. Palladium bullion had been allowed in IRAs for 19 years by then.
The gap does not harm eligibility, because the coin passes the bullion test. It does remove the "by name" protection the other three Eagles have. Claims that Palladium Eagles have a statutory "carve-out" are wrong. 31 U.S.C. 5112 is the law that tells the Mint what to strike. It is not a tax exception. Everything outside the two exceptions falls under the IRS collectibles rule in 408(m).
Why Proof Platinum Eagles Are Named and Proof Palladium Eagles Are Not#
The platinum law itself says "proof platinum coins" and the tax code points to that law. The palladium law only allows "collectible versions", and the tax code does not point to it at all. A proof is a mirror-finish collector version of a coin. Section 5112(k) reads: "The Secretary may mint and issue platinum bullion coins and proof platinum coins". Section 5112(v)(5) says the Secretary "may issue collectible versions of the coins described in paragraph (1) in both proof and uncirculated versions".
The named-coin route is explained on American Platinum Eagle in an IRA.
Does the Palladium Eagle Meet the .9995 Purity Rule?#
Yes: the law that creates the coin fixes it at .9995 fine palladium, which is exactly the minimum the bullion clause requires. Fineness is the share of pure metal, so .9995 equals 99.95%. The Mint law describes a $25 coin that "weighs 1 troy ounce and contains .9995 fine palladium" (31 U.S.C. 5112(a)(12)).
The IRS did not pick the number. The bullion clause borrows "the minimum fineness that a contract market ... requires". A contract market is a regulated futures exchange, such as NYMEX. Its delivery grade is the purity a bar must have to settle a futures contract. That grade has been 99.95% since October 1992, according to the archived NYMEX palladium contract sheet. It is also the figure all 3 custodians we read apply.
Gold coins of .9999 fineness clear a .995 floor with room to spare. The Palladium Eagle sits exactly at the minimum, by statute. That minimum is the exchange's number, so it would move if the exchange changed its delivery grade. The .995, .999 and .9995 thresholds are explained with the exchange rules on gold IRA purity requirements.
Is the Palladium Eagle "IRS-Approved"?#
No: the IRS keeps no list of approved coins, so no coin is "IRS-approved", and a US Mint coin gets no special pass. The IRS writes: "Although there is no list of approved investments for retirement plans" (Retirement Plan Investments FAQs, updated April 8, 2026).
The only approval list the IRS keeps covers nonbank trustees, firms that are not banks but may hold IRAs. It had 73 entries on April 1, 2026. The US Mint makes the coin, but it approves nothing for IRAs. The honest wording is "IRA-eligible as .9995 bullion, if your custodian takes it".
The History of the Palladium Eagle: The 2010 Act, the Mint's Study and the 2015 Fix#
The Palladium Eagle took 2,477 days to go from law to coin, from December 14, 2010 to its first sale on September 25, 2017. A 2013 study found too little demand, and Congress dropped the study condition in 2015. The 4 dates of that history are listed below.
- December 14, 2010: the American Eagle Palladium Bullion Coin Act becomes Public Law 111-303.
- March 1, 2013: the Mint's demand study reaches Congress.
- December 4, 2015: the FAST Act removes the study condition.
- September 25, 2017: the Mint begins sales to Authorized Purchasers, the wholesalers it sells bullion coins to.
This history explains the two facts that cost IRA buyers money. The coin came too late for the tax code's list, and the Mint has never made it in bullion quantities. Where palladium fits in the wider history of gold in IRAs is told from the 1974 law onward.
The American Eagle Palladium Bullion Coin Act of 2010 Became Law on December 14, 2010#
The American Eagle Palladium Bullion Coin Act of 2010 became Public Law 111-303 on December 14, 2010 and authorized a $25 coin holding 1 troy ounce of .9995 fine palladium. A Public Law is a bill that has become law. The text of Public Law 111-303 is short. It fills 3 pages of the Statutes at Large, the official record of laws as passed (124 Stat. 3275 to 3277). The bill, H.R. 6166, passed the House on September 29, 2010 and the Senate on November 30, 2010.
The Act did not order the coin outright. It set a condition.
The marketing study had to come from "a reputable, independent third party" and show the coins "could be minted and issued at no net cost to taxpayers". The table below sums up each paragraph and marks what changed in 2015.
| Paragraph of 31 U.S.C. 5112 | What the 2010 Act says | In plain English | Still in force after 2015? |
|---|---|---|---|
| (a)(12) | $25, 1 troy ounce, .9995 fine palladium, size set by the Secretary | One size, one purity | Yes |
| (v)(1) | Mint the coin "subject to" a marketing study | No study showing demand, no coin | Changed (condition struck) |
| (v)(2) | US-mined palladium first, at "not more than the average world price" | Buy American metal when possible | Changed ("To the greatest extent possible" added) |
| (v)(3) | Sale price at least the bullion value plus all costs | The Mint cannot sell the coin at a loss | Yes |
| (v)(4) | "Numismatic items" for sections 5134 and 5136 | A Mint accounting label | Yes |
| (v)(5) | Proof and uncirculated versions; the surface must differ each year | Collector versions are allowed | Changed ("collectible versions of" added) |
| (v)(6) | Adolph A. Weinman's "Winged Liberty" front and 1907 American Institute of Architects medal back, in high relief | The look is fixed by law | Yes |
| (v)(7) | Proofs struck "only at the United States Mint at West Point, New York" | The "W" on collector coins | Yes |
| (v)(8) | Definition of the marketing study | Demand must be shown, "at no net cost to taxpayers" | Struck |
Sources: Pub. L. 111-303 (December 14, 2010); Pub. L. 114-94, sec. 73001 (December 4, 2015). Plain-English column by SafeOunce.
For an IRA the key point is what the Act left alone. It amended title 31, the Mint law, and did not touch 26 U.S.C. 408(m).
The Mint's Demand Study Reached Congress on March 1, 2013 and Found Too Little Demand#
The study the 2010 Act required reached Congress on March 1, 2013 and concluded that demand for a US Mint palladium bullion coin was unlikely to be sufficient. The study requirement is in the Act itself, 31 U.S.C. 5112(v)(1) and (8) as enacted by Public Law 111-303. The delivery date and the findings come from CoinNews's March 13, 2013 report of the study. SafeOunce has not obtained the Mint's report itself.
According to that report, CPM Group of New York wrote the study, and it went to the Senate Banking Committee and the House Committee on Financial Services. The 2 conclusions CoinNews quotes are listed below.
- "It is unlikely that there will be sufficient demand for a U.S. Mint palladium bullion coin and such a program would most likely not be possible to undertake profitably."
- "It is unlikely that there will be sufficient demand for a U.S. Mint palladium numismatic (proof or uncirculated) coin, but such a program could be undertaken profitably."
CoinNews also quotes the study's wider finding: "The potential pool of buyers of palladium bullion and numismatic coins is small and there is little interest in the market for palladium in coin form."
A widely copied version says only that demand "would most likely not be sufficient to sustain a market in palladium bullion coins". That leaves out the study's split between a bullion coin (not viable) and collector versions (could be profitable). It also leaves out the legal effect. Under the 2010 Act a negative study meant the condition for minting was never met.
The table below compares the study's 10-year forecast, as CoinNews reported it, with reported US Mint sales.
| Version | Study's 10-year forecast (ounces, as reported March 2013) | Sold 2017 to 2026 (coins, as reported) | Share of forecast |
|---|---|---|---|
| Bullion | 155,300 | 23,700 | 15.3% |
| Proof and uncirculated (collector) | 107,650 | 76,694 | 71.2% |
| All versions | 262,950 | 100,394 | 38.2% |
Forecast: CPM Group study as reported by CoinNews, March 13, 2013; sums computed by SafeOunce. Sales: a secondary compilation of US Mint sales figures, read September 29, 2026 and not confirmed by SafeOunce against the Mint's own reports (the 2026 figure is sales to date as of that read). The forecast years and the sales years are not the same ten years.
As reported, the bullion forecast was 100,000 ounces in year 1, then 20,000, then 10,800, then 3,000 to 5,000 a year. The collector forecast was 71,766 ounces of proofs and 35,884 of uncirculated coins. Reported bullion sales in 2017 were 15,000 coins. Since 2018 the Mint has issued a collector version every year and, as reported, a bullion coin only once more. That is the split the study described.
Congress Removed the Study Condition on December 4, 2015#
On December 4, 2015 the FAST Act (Public Law 114-94, section 73001) struck the study condition. The law now simply says "The Secretary shall mint and issue" the palladium coin. The change sits in Public Law 114-94 under "Technical corrections" (129 Stat. 1785 to 1786). It amends paragraph (1) "by striking 'Subject to' and all that follows through 'the Secretary shall' and inserting 'The Secretary shall'". It also orders "striking paragraph (8)".
The Mint then announced sales "to Authorized Purchasers on September 25" at "a 6.25 percent premium over the prevailing price of palladium" (US Mint press release, 2017). The table below counts the days between the 4 steps.
| Date | Event | Source | Days since the previous step |
|---|---|---|---|
| December 14, 2010 | Act approved (Pub. L. 111-303) | govinfo.gov | 0 |
| March 1, 2013 | Study reaches Congress | CoinNews report of the study, March 13, 2013 | 808 |
| December 4, 2015 | Study condition struck (Pub. L. 114-94, sec. 73001) | govinfo.gov | 1,008 |
| September 25, 2017 | First sales to Authorized Purchasers | US Mint press release | 661 |
| Total | Act to first coin | 2,477 days (6 years, 9 months, 11 days) |
Day counts computed by SafeOunce.
The first collector version, a proof, went on sale on September 6, 2018 with a limit of 15,000 coins and one per household for the first 24 hours (US Mint press release, August 30, 2018).
What Are the Palladium Eagle's Specifications and Mintages?#
The Palladium Eagle comes in one size only, a $25 coin holding 1 troy ounce of .9995 fine palladium, and the Mint has made 11 issues of it since 2017. A troy ounce is 31.1035 grams, the unit used for precious metals. The specifications are listed in the table below.
| Specification | Value | Source |
|---|---|---|
| Face value | $25 | 31 U.S.C. 5112(a)(12) |
| Palladium content | 1 troy ounce | 31 U.S.C. 5112(a)(12) |
| Fineness | .9995 (99.95%) | 31 U.S.C. 5112(a)(12) |
| Diameter | 1.340 inches (34.03 mm) | US Mint product page, 2026 |
| Edge | Reeded | US Mint product page, 2026 |
| Sizes | One: "fractional sizes are not authorized" | US Mint press release, 2017 |
| Designs | Winged Liberty front and 1907 AIA medal eagle back, both by Adolph A. Weinman, in high relief | 31 U.S.C. 5112(v)(6) |
Sources: 31 U.S.C. 5112; US Mint product page for the 2026-W coin, read October 2, 2026.
The face value is the legal-tender amount stamped on the coin. At $25 it sits far below the metal value, and it plays no part in IRA eligibility. The statute does not fix the diameter. The Mint sets it and lists 34.03 mm on its 2026 product page. Collector coins carry a "W", the mint mark that shows West Point struck them.
American Palladium Eagle Mintage by Year, 2017 to 2026#
Reported sales of the Palladium Eagle total 100,394 coins across 11 issues from 2017 to 2026, and only 23,700 of them were bullion coins. The figures come from a secondary compilation of US Mint sales reports, read September 29, 2026. We could not open the Mint's own sales reports on October 2, 2026, so SafeOunce has not confirmed any row.
| Year and mint mark | Version | Sold (as reported) |
|---|---|---|
| 2017 | Bullion | 15,000 |
| 2018-W | Proof | 14,986 |
| 2019-W | Reverse proof | 18,839 |
| 2020-W | Uncirculated | 9,746 |
| 2021-W | Proof | 5,170 |
| 2021 | Bullion | 8,700 |
| 2022-W | Reverse proof | 7,439 |
| 2023-W | Uncirculated | 5,784 |
| 2024-W | Proof | 5,961 |
| 2025-W | Reverse proof | 3,991 |
| 2026-W | Uncirculated | 4,778 (sales to date, as read September 29, 2026) |
| Totals | Bullion 23,700; collector 76,694 | 100,394 |
Sales: a secondary compilation of US Mint sales reports, read September 29, 2026; not confirmed by SafeOunce on usmint.gov.
Reported sales peaked with the 2019 reverse proof at 18,839 coins and fell to 3,991 in 2025. SafeOunce has confirmed 2 mintage limits on US Mint pages. The 2018 proof had a limit of 15,000 coins (press release, August 30, 2018). The 2026 uncirculated coin has a limit of 5,000 (product page, read October 2, 2026). The limits for 2019 to 2025 are not confirmed.
For an IRA buyer the lesson is simple. Only 23,700 bullion coins are reported to exist, so dealers price even the "bullion" Eagle like a collector coin.
Which Versions Exist: Bullion, Proof, Reverse Proof and Uncirculated?#
The Mint has made the Palladium Eagle in 4 finishes, and since 2018 it has issued one collector finish a year in rotation: proof, reverse proof, uncirculated. The 4 versions are listed below.
- Bullion (2017 and, as reported, 2021): the Mint sold the 2017 coin to Authorized Purchasers at 6.25% over the palladium price.
- Proof (2018-W, 2021-W, 2024-W): mirror-like background. The Mint sells it in a presentation case with a certificate of authenticity (COA).
- Reverse proof (2019-W, 2022-W, 2025-W): frosted background and mirrored design.
- Uncirculated (2020-W, 2023-W, 2026-W): the third collector finish. The 2026 coin carries the dates "1776 ~ 2026" and a privy mark, a small extra symbol: a Liberty Bell with "250".
The rotation is not a marketing choice. The law requires each year's collector finish to differ "in some material way from that of the preceding year" (31 U.S.C. 5112(v)(5)).
Palladium Coin Issuers by Country, With Mintages#
Canada's Royal Canadian Mint sold 147,041 ounces of 1 oz Palladium Maple Leafs from 2005 to 2007, and reported US Mint sales are 100,394 Palladium Eagles from 2017 to 2026. These are the 2 government mints we have checked so far. The Canadian figures come from Table 5, "Maple Leaf coinage", in the Royal Canadian Mint's annual reports for 2006 and 2007. The Royal Canadian Mint reports ounces sold, not coins struck. The coin holds 1 ounce, so the numbers match one for one.
| Issuer | Coin | Fineness | Years covered | Sold or issued | Source | Passes the .9995 IRA purity test? |
|---|---|---|---|---|---|---|
| Royal Canadian Mint (Canada) | Palladium Maple Leaf, $50, 1 oz | .9995 | 2005 / 2006 / 2007 | 62,919 / 68,707 / 15,415 oz; 147,041 oz in total | RCM annual reports 2006 and 2007, Table 5 | Yes; named by GoldStar and STRATA |
| Royal Canadian Mint (Canada) | $50 Big Bear and Little Bear Constellations (4 coins) | Not stated in the table read | 2006 | 297 + 296 + 296 + 293 = 1,182 coins | RCM annual report 2006, Table 4 | Collector coins; on no custodian list read |
| United States Mint | American Palladium Eagle, $25, 1 oz | .9995 | 2017 to 2026 | 100,394 coins (23,700 bullion), as reported | Secondary compilation of US Mint sales reports, not confirmed by us | Yes on purity; named by no custodian list read |
SafeOunce prints a figure only when it has read it in the issuer's own report, or labels it "as reported". Read October 2, 2026. Custodian wording and prices for the Canadian coin are on Canadian Palladium Maple Leaf in an IRA.
The 2006 report says: "Sales of palladium coins were lower than anticipated in 2006." It also says "The Palladium Big and Little Bear Constellation coins sold out in one week". Bullion sold slowly and collector coins sold fast, the same split the US study described.
The 2007 report explains why Canada suspended the coin: "Demand for palladium evaporated with flat prices ... The Mint has suspended its palladium program until market conditions change." Canada sold 131,626 ounces in 2005 and 2006 alone. That is more than the 100,394 US coins reported for ten years.
Reference pages often list a dozen issuing countries with no sourced figures. Figures for other countries, and for Canada after 2007, stay out of this table until we have read each issuer's own record.
For an IRA the issuer matters less than two things. The coin must be at least .9995 fine, and your custodian must take it. Every product is checked on IRA-eligible palladium coins and bars.
Which Palladium Eagles Will an IRA Custodian Accept?#
None of the 3 custodian lists we read names the American Palladium Eagle, although all 3 accept .9995 palladium, so ask your custodian for a written yes before you buy. The custodian is the bank or trust company that holds your IRA and signs off on every purchase. The table below quotes each custodian's wording on palladium.
| Rule or product | GoldStar Trust | STRATA Trust | Equity Trust |
|---|---|---|---|
| Minimum purity | ".9995 pure" | "Minimum 99.95% pure" | ".9995+" |
| Palladium products named | "Canadian Maple Leaf coins; Various bars .9995" | "Canadian Maple Leaf coins"; "Other products meeting minimum fineness requirements" | Bars (no palladium coin named) |
| American Palladium Eagle | Not named | Not named | Not named |
| Eagles named by metal | "silver, gold and platinum American Eagle coins" | Gold: "American Eagle bullion and/or proof coins"; silver and platinum Eagles also listed | "American Eagle coins" (metal not specified) |
| Maker rule | Accredited refiner or "national government mint" | Accredited maker "or a national government mint" | Accredited maker "or a national mint" |
| Proof coins | "ungraded, complete with certificate of authenticity and in original mint packaging" | "complete, original mint packaging", with "the certificate of authenticity" | Not stated |
| Graded coins | "certified or 'graded' coins" unacceptable | "Any rare or collectible coin" excluded (grading not mentioned) | "not acceptable in IRAs at this time" |
Custodian pages read September 29, 2026. Custodian policy is contract terms, not tax law, but a product the custodian will not book cannot settle into your IRA.
On the written criteria, a bullion Palladium Eagle fits. It is .9995 fine and uncirculated, and a national government mint made it. An accredited maker is a refiner or mint that an exchange or trade body, such as NYMEX or the LPPM, has certified. But the lists are examples, not promises. GoldStar's own sentence names three Eagle metals and leaves palladium to the bullion clause.
Whether a custodian will book the coin is a question only that custodian can answer. Fees and storage at all the gold IRA custodians we profile are compared side by side.
Are Proof and Reverse Proof Palladium Eagles Allowed in an IRA?#
On purity, yes: a proof Palladium Eagle is still .9995 palladium. But no law names it and no custodian list we read mentions it, so it stands on weaker ground than a proof Platinum Eagle. The decision rests with your custodian.
The legal basis is thin. The Mint law allows "collectible versions" of the coin (31 U.S.C. 5112(v)(5)), and no tax statute points to that line. No IRS ruling or court case addresses proof Palladium Eagles.
The practical rule comes from GoldStar. Its page says proof coins must be "ungraded, complete with certificate of authenticity and in original mint packaging". If your custodian agrees in writing, keep the coin ungraded, in the Mint's case, with the certificate.
Cost is the other issue. Nine of the 11 issues are collector versions, and the Mint itself sells them well above the metal price. How proof premiums behave at resale is covered on proof coins in an IRA.
Why Graded (Slabbed) Palladium Eagles Are Refused#
GoldStar Trust and Equity Trust refuse graded coins of every kind, so a graded Palladium Eagle cannot enter an IRA at either (pages read September 29, 2026). A graded or "slabbed" coin sits in a plastic holder from a service such as NGC or PCGS, with a grade like PF70. GoldStar lists "Rare or collectible coins, including certified or 'graded' coins" as unacceptable. Equity Trust says slabbed coins "are not acceptable in IRAs at this time". STRATA excludes "Any rare or collectible coin" and does not mention grading.
Graded coins also cost the most. A graded 2025-W reverse proof (NGC PF70) cost $3,264.72 at SD Bullion on September 29, 2026. That was 162.1% over the $1,245.43 spot price that morning (JM Bullion, 5:51 a.m. ET). The same dealer's data sheet for that coin reads "IRA Approved: No". Two of the dealer pages that rank for this coin show only graded examples (read October 2, 2026).
How Much Does a Palladium Eagle Cost Over Spot in 2026?#
A bullion Palladium Eagle cost $2,394.49 at JM Bullion on August 5, 2026, 71.7% over the palladium price that day. A 1 oz palladium bar cost 12.8% over on September 29, 2026. The spot price is the market price of 1 troy ounce of palladium for immediate delivery. The premium over spot is what you pay above the metal's value, as a percent of that value. SD Bullion had no bullion Palladium Eagle in stock on September 29, 2026. Each figure in the table below is one dealer on one day.
| Product | Price | Palladium price used | Premium | Source and date |
|---|---|---|---|---|
| 1 oz palladium bar | $1,404.72 | $1,245.43 | 12.8% | SD Bullion, September 29, 2026 |
| 10 oz palladium bar (per oz) | $1,444.72 | $1,245.43 | 16.0% | SD Bullion, September 29, 2026 |
| Canadian Palladium Maple Leaf | $1,644.72 | $1,245.43 | 32.1% | SD Bullion, September 29, 2026 |
| US Mint 2026-W uncirculated Eagle (the Mint's own price) | $1,795.00 | $1,219.25 (LBMA PM, September 28, 2026) | 47.2% | usmint.gov, read October 2, 2026 |
| Bullion Palladium Eagle | $2,394.49 | $1,394.50 | 71.7% | JM Bullion, August 5, 2026 |
| Graded 2025-W reverse proof PF70 (GoldStar and Equity Trust refuse graded coins) | $3,264.72 | $1,245.43 | 162.1% | SD Bullion, September 29, 2026 |
Different dealers and days; each row uses the palladium price of its own day. September 29 rows: JM Bullion spot price, 5:51 a.m. ET. August 5 row: the spot figure recorded with the JM Bullion coin price that day; its series was not recorded. The Mint's price and the LBMA price are from different days. Premiums move daily.
Why is the premium so high? Supply is small: 23,700 reported bullion coins, and no bullion issue reported after 2021. Every other issue is a collector coin that the Mint itself prices far above the metal. Premium over spot is only one of the gold IRA markups and spreads a buyer pays.
The Premium Stack: 6.25% at the Mint, 71.7% at Retail#
The Mint sold the 2017 bullion coin to its wholesalers at 6.25% over the palladium price. By August 2026 the same kind of coin cost 71.7% over, about 11.5 times the Mint's markup.
The law makes the Mint charge at least the bullion value plus its design and issuing costs (31 U.S.C. 5112(v)(3)). As an illustration, 6.25% over the August 5, 2026 palladium price of $1,394.50 comes to $1,481.66. The retail price that day was $2,394.49. The two figures are 9 years apart, and no bullion issue is reported for 2026.
What $10,000 Buys: Palladium Eagle vs Maple Leaf vs Bars#
From $10,000, a 1 oz palladium bar bought $8,865 of palladium and a bullion Palladium Eagle bought $5,824, a gap of $3,041 on dated prices. The Eagle price is from August 5 and the others are from September 29, so compare the percentages, not the dollar prices. The table below divides $10,000 by each product's price over spot.
| Product | Premium (date) | Palladium value bought with $10,000 | Paid for premium |
|---|---|---|---|
| 1 oz bar | 12.8% (September 29, 2026) | $8,865 | $1,135 |
| 10 oz bar | 16.0% (September 29, 2026) | $8,621 | $1,379 |
| Palladium Maple Leaf | 32.1% (September 29, 2026) | $7,570 | $2,430 |
| Bullion Palladium Eagle | 71.7% (August 5, 2026) | $5,824 | $4,176 |
| Graded reverse proof PF70 | 162.1% (September 29, 2026) | $3,815 | $6,185 |
Computed by SafeOunce: $10,000 divided by (1 + premium). Prices from SD Bullion and JM Bullion on the dates shown.
The rest of the $10,000 pays for the coin's finish and short supply, and a custodian's statement will not show it.
Round-Trip Cost and Break-Even for a Collector Premium#
Even if a dealer paid you the full palladium price, a Palladium Eagle bought at 71.7% over spot would lose 41.8% on the day. Palladium would have to rise 71.7% before you broke even. A round trip is what you lose if you buy and sell back at once. The bid is what the dealer pays you. Break-even is the point where your sale price covers what you paid.
That example is generous. SD Bullion's posted bids were 9.9% to 11.5% under spot on September 29, 2026. We captured no dealer bid for a Palladium Eagle, so the table below shows measured round trips for the other 2 products.
| Product | Ask | Bid | Loss | Rise needed |
|---|---|---|---|---|
| 1 oz palladium bar | $1,404.72 | $1,101.73 | 21.6% | 27.5% |
| Palladium Maple Leaf | $1,644.72 | $1,121.73 | 31.8% | 46.6% |
| Bullion Palladium Eagle | $2,394.49 (JM Bullion, August 5, 2026) | Not captured | At least 41.8% if sold at spot | At least 71.7% |
SD Bullion, September 29, 2026, unless noted. Bids come from a static sell page and may lag.
The next table shows how long each premium takes to earn back if palladium rose 5% a year. The 5% is an illustration, not a forecast.
| Premium paid | Years to break even at 5% a year |
|---|---|
| 12.8% (1 oz bar) | 2.5 |
| 32.1% (Maple Leaf) | 5.7 |
| 71.7% (bullion Eagle) | 11.1 |
| 162.1% (graded proof) | 19.7 |
Computed: ln(1 + premium) divided by ln(1.05).
Run your own premium and bid through the gold IRA break-even calculator; it works for palladium too.
Palladium Eagle, Maple Leaf or Palladium Bars: Which Fits Your IRA?#
For most IRA buyers who want palladium, a 1 oz bar or a Maple Leaf is the cheaper and better-documented choice. The Palladium Eagle fits only a buyer who wants the US coin and accepts a collector price. The table below matches 6 reader situations to a choice.
| Your situation | Choice | Why |
|---|---|---|
| You want palladium in an IRA at the lowest cost per ounce | 1 oz bar from an accredited refiner | 12.8% premium (SD Bullion, September 29, 2026); bars are named by GoldStar and Equity Trust |
| You want a government coin your custodian already lists | Canadian Palladium Maple Leaf | Named by GoldStar and STRATA; 32.1% premium (September 29, 2026) |
| You want a US Mint coin specifically | Bullion Palladium Eagle (2017 or 2021), ungraded | Only after a written yes from your custodian; expect a collector price (71.7% on August 5, 2026) |
| A seller offers a proof, reverse proof or uncirculated "W" Eagle | Ask first, buy later | You should get the price per coin, the percent over spot and the buyback bid in writing; keep the coin ungraded in the Mint case with the COA |
| A seller offers a graded PF70 or MS70 Eagle for an IRA | Decline | GoldStar and Equity Trust refuse graded coins; STRATA excludes "Any rare or collectible coin" |
| You already own Palladium Eagles | Keep them outside the IRA | IRA contributions must be cash (26 U.S.C. 408(a)(1)) |
Premiums are one dealer on one day. Custodian wording read September 29, 2026.
A bar gives you the most palladium per dollar. A Maple Leaf gives you a coin that 2 of the 3 custodian lists name.
The Palladium Eagle gives you neither advantage. If you still want one, you should settle the custodian question before you send money.
How Sales Pitches Misuse the Palladium Eagle#
Sellers use the word "Eagle" and the coin's low mintage to sell palladium at collector prices, so these are the four pitch lines to recognize. Each line below is followed by the fact that answers it.
- "IRS-approved" or "IRA-approved": no approval list exists. The coin is eligible on purity only.
- "An American Eagle, like the Gold Eagle": the tax code names the other three Eagles. It does not name this one.
- "Limited mintage, scarcity breeds value": low mintage is why the premium was 71.7% on August 5, 2026. Equity Trust's statement value leaves out premiums.
- "PF70, investment grade": GoldStar and Equity Trust refuse graded coins. One dealer's own data sheet marks its PF70 Palladium Eagle "IRA Approved: No".
These pitches sell a numismatic coin, one priced for collectors, to a buyer who asked for bullion. The pattern behind numismatic coin upsells is documented case by case.
Dealer labels also disagree with each other. One IRA seller's page says bullion and proof Palladium Eagles qualify. One large online dealer marks its graded coin "IRA Approved: No". A third dealer groups graded Palladium Eagles under an "IRA Approved Bullion" menu (pages read September 29 and October 2, 2026). None of the three is a custodian. A dealer's label is marketing. Only your custodian's written answer counts.
The "Numismatic Items" Line in 31 U.S.C. 5112(v)(4)#
The law does call every Palladium Eagle a "numismatic item", but only for the Mint's own bookkeeping, not for taxes and not for value.
Sections 5134 and 5136 are the Mint's fund-accounting law. What does matter for tax is purity and custody: .9995, and held by the trustee.
How Does the Palladium Eagle Fit Into the Rest of a Palladium IRA?#
The Palladium Eagle's eligibility rests on one clause of the tax code, and the account rules around it (custody, statements and withdrawals) decide what the coin is worth to you. How a palladium IRA works, and what the metal has cost holders, is covered on the metal page. Custody, statements and withdrawals follow the same gold IRA rules for every metal.
Can You Keep IRA Palladium Eagles at Home?#
No: the clause that makes the Palladium Eagle eligible applies only while the coin is "in the physical possession of a trustee". At home it stops being eligible bullion at all. Those words sit in 26 U.S.C. 408(m)(3)(B) itself.
A collectible bought by an IRA counts as a withdrawal equal to its cost (26 U.S.C. 408(m)(1)). The Tax Court reached a similar result for Gold Eagles kept in a home safe. It treated them as a taxable distribution (McNulty v. Commissioner, 157 T.C. No. 10, November 18, 2021).
Every home storage gold IRA pitch fails the same custody test.
Why Your Statement Shows Less Than You Paid for Palladium Eagles#
A custodian statement shows a metal value, not what you paid, so $100,000 of bullion Eagles bought on August 5, 2026 would show about $58,238 at that day's palladium price. Equity Trust's disclosure says its valuation "does not include any markups, commissions or premiums". Custodians use different price bases, so your figure can differ. The 3 steps of the math are listed below.
- Divide $100,000 by the $2,394.49 coin price: 41.7625 ounces of palladium.
- Multiply 41.7625 ounces by the $1,394.50 palladium price of that day: about $58,238.
- Subtract: the statement shows about $41,762 less than you paid, on day one.
Each line of a gold IRA statement is explained with the custodian's valuation rule.
Taking Palladium Eagles Out of the IRA#
You can take Palladium Eagles out as coins instead of cash, and their fair market value on the distribution date counts as ordinary income. This is an in-kind distribution: the custodian ships the metal and reports its value on Form 1099-R. Required minimum distributions (RMDs), the yearly withdrawals the law forces, start at age 73 if you were born from 1951 to 1958. They start at 75 if you were born in 1960 or later.
The premium works against you here too. You paid a collector price inside the IRA, and you are taxed on the value the custodian reports at withdrawal. The 28% collectibles rate applies only to coins held outside an IRA.
Custodians charge for the shipment. Equity Trust charges $125 plus shipping cost plus $10, with a $50 shipping minimum (fee schedule FS-0004-05, Rev. 081726). GoldStar charges $75 plus $10 plus shipping (Rev. 01/2026). The steps and fees for gold IRA distributions in kind differ by custodian.
Can You Put Palladium Eagles You Already Own Into an IRA?#
No: IRA contributions must be cash under 26 U.S.C. 408(a)(1), so coins you already own cannot be deposited. Selling them to your own IRA is a prohibited transaction, a deal between you and your IRA that the law bans. The 2026 limit is $7,500, plus $1,100 at age 50 or older (IRS Notice 2025-67). Cash deposits count against the gold IRA contribution limits for the year.
Is Platinum or Palladium Cheaper to Hold in an IRA?#
On dated prices platinum was cheaper to get in and out of. A 1 oz platinum bar lost 8.1% on a same-day round trip on September 29, 2026, against 21.6% for a 1 oz palladium bar. A Platinum Eagle lost 10.8% and a Palladium Maple Leaf 31.8% (SD Bullion; bids may lag). The Platinum Eagle is also a named coin, and the Palladium Eagle is not. Costs and coins for a platinum IRA are set out on its own page.
Which US Mint Eagle Coins Does the Tax Code Name?#
The tax code names three: the American Gold Eagle in 4 sizes, the 1 oz American Silver Eagle and the American Platinum Eagle. The Palladium Eagle and the Gold Buffalo (31 U.S.C. 5112(a)(11), .9999 fine) qualify only as bullion. Why a 22-karat coin qualifies by name is explained on American Gold Eagle in an IRA. The 1 oz-only rule is on American Silver Eagle in an IRA.