Yes. The Australian Silver Kangaroo struck by The Perth Mint is IRA-eligible because it is 99.99% silver bullion, above the .999 minimum of 26 U.S.C. 408(m)(3)(B). That holds only while an IRA trustee keeps the coin. So why does none of the 3 custodian lists we read name it, and which "Silver Kangaroo" do dealers mean? "IRA-eligible" means an IRA (individual retirement account) can buy the coin without the purchase being taxed as a withdrawal. Bullion is metal valued for its content, not its rarity. The trustee, also called the custodian, is the trust company that holds your IRA.
The Kangaroo is one of the coins checked in our database of IRA-eligible coins. On September 29, 2026 a random-year coin cost $67.02 at one large online dealer, against that dealer's spot price of $61.34.
This page covers the legal route, specifications, the 2 mints, purity, legal tender, custodian lists, 2026 costs, other silver products and dealer labels.
Is the Australian Silver Kangaroo IRA-Eligible?#
Yes: the Perth Mint's Silver Kangaroo is IRA-eligible under 26 U.S.C. 408(m)(3)(B), the bullion rule, because it is purer than .999 silver and only while an IRA trustee holds it. The tax code starts from a ban. An IRA that buys a "collectible" is treated as paying out the purchase price to you (26 U.S.C. 408(m)(1)). A collectible is anything the tax code says an IRA may not buy, and metals and coins are on that list.
Two exceptions let metal back in. SafeOunce calls them Route A and Route B. Route A covers coins the law names. Route B covers bullion that has enough fineness, the share of pure metal in it, and sits with a trustee.
Why is the Kangaroo not on the short list of coins the law names? Congress named only US coins. The one silver coin on that list is the 1 oz American Silver Eagle (26 U.S.C. 408(m)(3)(A)(ii) and 31 U.S.C. 5112(e)). The full list of IRA-approved precious metals follows the same two routes.
The table below sets the two legal routes for silver side by side.
| Route | Statute | What qualifies | Purity test | Custody | Silver examples |
|---|---|---|---|---|---|
| A: named coin | 26 U.S.C. 408(m)(3)(A)(ii) | "a silver coin described in section 5112(e)" | None | A trustee is required anyway (26 U.S.C. 408(a); McNulty v. Commissioner, 2021) | American Silver Eagle 1 oz |
| B: bullion | 26 U.S.C. 408(m)(3)(B) | Silver bullion at the fineness a futures exchange requires | .999 (COMEX Rule 112101) | "in the physical possession of a trustee" | Silver Kangaroo, Silver Maple Leaf, Silver Britannia (2013 and newer), Silver Philharmonic, bars |
Sources: 26 U.S.C. 408(m)(3); COMEX Rule 112101.
What assets can an IRA not hold at all? Everything outside the two routes falls under the IRS collectibles rule.
Does the Silver Kangaroo Meet the .999 Purity Rule?#
Yes: the Perth Mint states 99.99% pure silver for the Kangaroo, and the minimum for silver in an IRA is .999, a number borrowed from the COMEX silver futures contract. A fineness of .999 means 99.9% pure. The Mint's 2026 product page describes the coin as "99.99% pure silver". A 99.99% coin may hold at most one tenth of the impurity the rule allows: 0.01% against 0.1%.
The tax code itself contains no purity number. It points to a "contract market", which means a regulated futures exchange such as COMEX. The exchange could change .999 one day, and the IRA minimum would follow. The .995, .999 and .9995 thresholds are explained with the exchange rules on gold IRA purity requirements.
Is the Silver Kangaroo "IRA Approved" or "IRS-Approved"?#
No coin is "IRS-approved": the IRS keeps no list of approved coins, and "IRA approved" on a dealer page is the dealer's label for silver that meets the .999 rule.
The only approval list the IRS keeps covers trust companies, not coins. It named 73 nonbank trustees on April 1, 2026. On October 2, 2026 one large dealer titled a category "IRA-Approved Silver Kangaroo Coins". A second dealer put an "IRA Approved" badge on its product page.
What does "IRA approved" mean for silver, then? It means the silver is at least .999 fine, or is a 1 oz American Silver Eagle, and a trustee holds it. Every coin, bar and round that passes is listed on IRA-approved silver.
What Are the Silver Kangaroo's Specifications?#
The Silver Kangaroo is a 1 troy ounce coin of 99.99% silver with a face value of A$1. It is at most 40.90 mm wide and 3.50 mm thick, according to The Perth Mint's 2026 product page. A troy ounce is the metals ounce: 31.1035 grams. Face value, also called the denomination, is the money amount stamped on the coin. The table below sets the Mint's values beside the values dealer pages print.
| Attribute | Perth Mint (2026 page) | Commonly copied value |
|---|---|---|
| Silver content | 1.000 troy oz | 1 oz |
| Fineness | 99.99% | .999 or .9999 |
| Face value | A$1 | A$1 |
| Minimum gross weight | 31.107 g | 31.103 g |
| Maximum diameter | 40.90 mm | 40.6 mm |
| Maximum thickness | 3.50 mm | 3.2 mm |
| Mintage | Unlimited | Not stated |
Source: perthmint.com, 2026 1 oz silver bullion coin page, read October 2, 2026. Copied values: 2 dealer product pages read the same day.
Why do the numbers differ? The Mint publishes a maximum size and a minimum weight, not one exact figure. The 2 dealer pages print 40.6 mm and 31.103 g instead. The front shows Dan Thorne's portrait of King Charles III. The back shows a bounding red kangaroo under rays of sunlight.
The 3 features below help you identify the bullion coin.
- Mintmark: a "P" for Perth. A mintmark is the small letter that shows where a coin was made. The 2024 coin carries "P125".
- Security letter: "a micro-laser engraved letter, only detectable under a magnifying glass", in the Mint's words.
- Packaging: tubes of 25 coins and boxes of 250 coins (10 tubes).
Which Mint Strikes the Silver Kangaroo? The Perth Mint Makes the Bullion Coin, the Royal Australian Mint a Collector Coin#
The Silver Kangaroo bullion coin is struck by The Perth Mint in Western Australia, which reports 15,236,555 coins dated 2022. The Royal Australian Mint in Canberra strikes a different Silver Kangaroo, a collector coin limited to 10,000 frosted coins in 2026. The first number comes from the Perth Mint's table "The Australian Red Kangaroo Silver Bullion Coin Series 2015 - 2022", last updated May 23, 2024. The second comes from the Royal Australian Mint's release "2026 Kangaroo Series Showcases Mob of Six Roos", dated July 20, 2026.
A bullion coin has no fixed production limit and sells near its silver value. A collector coin has a limited mintage, the number of coins made, and sells at a fixed price in display packaging. "Frosted uncirculated" and "proof" are two collector finishes. The Perth Mint is owned by the Government of Western Australia, according to the Mint.
The 2022 bullion mintage is about 1,524 times the 2026 frosted collector limit. The table below compares the two coins that share one name.
| Attribute | Perth Mint Silver Kangaroo (bullion) | Royal Australian Mint Kangaroo Series (collector) |
|---|---|---|
| Mint and city | The Perth Mint, Perth | Royal Australian Mint, Canberra |
| Purpose | Bullion | Collector |
| Purity | 99.99% (Mint page, 2026) | Listed as 99.9% by Australian dealers; not read on the Mint's own page |
| Face value | A$1 | A$1 |
| Mintage | Unlimited; 15,236,555 dated 2022 | 10,000 frosted uncirculated and 5,000 proof (2026) |
| Price basis | Silver price plus a premium (9.3% at one US dealer on September 29, 2026) | Fixed issue price: A$155.00 frosted, A$190.00 proof (2026) |
| Design | Same bounding kangaroo each year | New design each year; 2026 is "Mob of Six Roos" |
| Mark | "P" | None stated in the release |
| Sold to US IRAs as bullion | Yes | No, it is a collector product |
Sources: The Perth Mint, 2026 product page and mintage table, read October 2, 2026; Royal Australian Mint release of July 20, 2026, read October 2, 2026. The ratio is computed by SafeOunce and compares two different years.
A widely copied description says the Silver Kangaroo is minted by the Royal Australian Mint in Canberra. That is true of the collector coin and wrong for the bullion coin a US dealer sells for an IRA. Of the 8 dealer pages we looked at on October 2, 2026, 3 attach the Royal Australian Mint or the year 1993 to the bullion coin.
Perth Mint Silver Kangaroo Mintage by Year, 2015 to 2022#
The Perth Mint declared 66,611,562 Silver Kangaroos for the 7 years 2016 to 2022, an average of about 9.5 million a year. A first issue dated 2015 was capped at 300,000 coins. A declared mintage is the final count a mint publishes after it stops making a year's coin.
| Year | Maximum mintage | Declared mintage | Share of 2016 to 2022 total |
|---|---|---|---|
| 2015 | 300,000 | Sold out | Not counted |
| 2016 | Unlimited | 11,245,615 | 16.9% |
| 2017 | Unlimited | 5,178,016 | 7.8% |
| 2018 | Unlimited | 4,395,517 | 6.6% |
| 2019 | Unlimited | 5,650,501 | 8.5% |
| 2020 | Unlimited | 13,169,939 | 19.8% |
| 2021 | Unlimited | 11,735,419 | 17.6% |
| 2022 | Unlimited | 15,236,555 | 22.9% |
| 2016 to 2022 | 66,611,562 | 100% |
Source: The Perth Mint, "The Australian Red Kangaroo Silver Bullion Coin Series 2015 - 2022", last updated 23 May 2024. Total and shares computed by SafeOunce.
The Mint's figure for 2021 is 11,735,419; a widely copied table shows 11,735,394. The years 2023 to 2026 are not in the Mint's table yet. A coin struck by the million is priced as silver, not as a rarity, which is what an IRA buyer wants.
Which of the Two Kangaroos Belongs in an IRA?#
The Perth Mint bullion coin is the one to hold in an IRA, because it is priced near its silver value. The Royal Australian Mint coin is a collector product sold for far more than the silver in it. One US dealer's page showed the gap on October 2, 2026. It listed a "1993-C $1 Silver Australian Kangaroo" at $145.90. Bullion Kangaroos cost about $67 that week. Both hold the same ounce of silver.
The collector coin is not banned on paper, since silver of .999 fineness passes the purity test. Three practical problems remain. No custodian list we read names it. STRATA Trust lists "Any rare or collectible coin" as unacceptable. GoldStar Trust excludes "Rare or collectible coins, including certified or 'graded' coins".
The price is the third problem. The 1993 coin cost $145.90 and held about $61 of silver, so about $84 of the price bought no metal. An IRA statement shows silver value, so that amount does not appear. How custodians treat proof and graded coins in an IRA is covered coin by coin.
Silver Kangaroo Purity: 99.99% Silver on the Perth Mint Bullion Coin#
The Perth Mint's Silver Kangaroo bullion coin is 99.99% pure silver. The Mint's 2026 product page states it, and its mintage table labels every coin from 2017 to 2022 "99.99% Silver". Both documents are the Mint's own: the 2026 product page and the mintage table of May 23, 2024. The Mint's 2024 tube page gives the same fineness, 99.99.
The table's rows for 2015 and 2016 read "1oz Silver Bullion Coin" and give no purity. The table below separates what the Mint states from what dealers and trade reports say. Every row passes the IRA test, because each coin is at least .999 fine. The 99.99% coins leave room for one tenth of the impurity that .999 allows.
| Coin | Years | Purity | Source of the purity | IRA fineness test (.999) |
|---|---|---|---|---|
| Perth Mint bullion, capped at 300,000 | 2015 | .999 | One US dealer's listing; the Mint's table gives no purity | Passes |
| Perth Mint bullion | 2016 | 99.99% | Reported at launch by trade sources; not read on a Mint page | Passes |
| Perth Mint bullion | 2017 to 2022 | 99.99% | Mint mintage table | Passes |
| Perth Mint bullion | 2024 and 2026 | 99.99% | Mint product pages | Passes |
| Royal Australian Mint collector coin | 1993 to date | 99.9% | Dealer listings; not read on the Mint's own page | Passes on paper; collector product |
Sources: The Perth Mint (2024 and 2026 product pages; mintage table, May 23, 2024); dealer listings read October 2, 2026.
Of the 8 dealer pages we looked at on October 2, 2026, 4 print 99.9% or .999 and 4 print 99.99%.
The "99.9% Until 2014, 99.99% From 2015" Claim, Checked#
The common claim is half right: 99.99% is correct for the Perth Mint bullion coin, but the change it describes is really a second coin from a second mint. The first coin made in volume is dated 2016, not 2015, and trade sources reported it as 99.99% at launch. The 3 dates below show what happened.
- 1993: dealers list Royal Australian Mint Silver Kangaroos, a collector coin, back to this year.
- 2015: the Perth Mint issues its first "Red Kangaroo" bullion coin. The Mint capped it at 300,000 coins and marks it sold out. One US dealer lists it as .999.
- 2016: the first unlimited Perth Mint issue arrives, with 11,245,615 coins. The Mint's table states 99.99% on every coin from 2017.
We found no Royal Australian Mint source that says its coin changed purity in 2015. For an IRA the dispute does not change the answer: 99.9% and 99.99% both pass the .999 test.
Is the Silver Kangaroo Legal Tender? Yes, in Australia, for Payments up to A$10#
Yes: The Perth Mint lists the A$1 Silver Kangaroo as legal tender in Australia. Under section 16 of the Currency Act 1965, a A$1 coin issued under that Act is legal tender for payments up to A$10. Legal tender is money a creditor must accept for a debt, within set limits. The Perth Mint's 2026 page lists the coin's legal tender as "Australia" and its denomination as AUD $1.00. The A$10 limit is our computation from the Currency Act 1965, in the compilation of October 21, 2016. That was the latest compilation on Australia's Federal Register of Legislation on October 2, 2026.
Section 16 covers only coins "made and issued under this Act". The Mint says it issues its legal tender coins under that Act. We did not retrieve the Treasury determination that covers this coin, so that step rests on the Mint's statement.
Why does a A$1 coin sell for the silver price? Section 14A of the same Act covers coins "whose standard composition consists of, or includes, gold, silver or platinum". Australia's Treasurer sets their issue price, or the method for it. The table below shows the limit for each coin size.
| Coin denomination | Legal tender for payments up to | Applies to |
|---|---|---|
| 1 cent and 2 cents | 20 cents | Withdrawn circulation coins |
| 5 cents to 50 cents | A$5 | Circulation coins |
| Above 50 cents and below A$10 | 10 times face value: A$10 for a A$1 coin | 1 oz Silver Kangaroo (A$1), as the Mint lists it |
| A$10 | A$100 | A$10 coins |
| Other denominations | Any amount | For example, the A$100 1 oz Gold Kangaroo |
Source: Currency Act 1965 (Cth), s 16(1), compilation of 21 October 2016, legislation.gov.au. The A$10 figure is computed by SafeOunce.
Does Legal Tender Status Matter for an IRA?#
No: US tax law never asks whether a coin is legal tender, only whether the silver is at least .999 fine and held by the IRA's trustee. The bullion clause has two tests, fineness and custody. Silver rounds have no face value at all and still qualify at .999.
US law adds a second point. "Foreign gold or silver coins are not legal tender for debts" in the United States (31 U.S.C. 5103). $50,000 bought 746 coins on September 29, 2026, and those coins carry A$746 of face value. What legal tender means for US and foreign coins is defined in the glossary.
Which Silver Kangaroos Will an IRA Custodian Accept?#
None of the 3 custodian lists we read on October 2, 2026 names the Silver Kangaroo. The lists belong to STRATA, GoldStar and Equity Trust. The coin does meet each custodian's general rule: silver of .999 or better from a national mint. A custodian is the trust company that holds the IRA and books each coin into it. Each list gives examples of silver the custodian takes. The Australian silver coin all 3 name is the Kookaburra.
| Question | STRATA Trust | GoldStar Trust | Equity Trust |
|---|---|---|---|
| Silver Kangaroo named? | No | No | No |
| Australian silver coins named | Kookaburra | Kookaburra | Kookaburra and Koala |
| General rule the Kangaroo meets | "Silver must be 99.9% pure" | .999, from a maker accredited by a listed body "or national government mint" | ".999+", from a maker accredited by a listed body "or a national mint" |
| Gold Kangaroo named? | Yes: "Australian Kangaroo/Nugget" | Yes: "Australian Kangaroo/Nugget" | Yes: "Australian Kangaroo/Nugget" |
| Graded or slabbed coins | "Any rare or collectible coin" is unacceptable | Refused: "certified or 'graded' coins" | Refused under its general rule |
| Proof coins | Original mint packaging with certificate | "ungraded, complete with certificate of authenticity and in original mint packaging" | Not addressed for this coin |
Lists read October 2, 2026. Custodian policy is contract terms, not tax law, but a coin your custodian will not book cannot settle into your IRA.
A graded or "slabbed" coin is one a grading company has scored and sealed in a plastic case. Bullion Kangaroos in mint tubes are not graded.
A list of examples is not a refusal. It does mean the written yes has to come from your custodian before the dealer invoices, not from the dealer's badge. Fees and storage at all the gold IRA custodians we profile are compared side by side.
Why "Kangaroo" on a Custodian's Gold List Does Not Cover the Silver Coin#
The "Australian Kangaroo/Nugget" line on all 3 custodian lists sits under gold, so it says nothing about the silver coin. Each metal has its own list. The gold coin's own rules are on Australian Gold Kangaroo in an IRA.
The Perth Mint's older silver coin, the Kookaburra, is the one the lists name. The Kookaburra was .999 silver through 2017 and .9999 from 2018. That is one year after the first Kangaroo the Mint's table labels 99.99%.
Condition counts too. STRATA requires bullion coins "in brilliant uncirculated condition and free from damage" (list read October 2, 2026). A random-year coin is whatever date the dealer has in stock, so name the condition in your question.
Ask your custodian this in writing: "Do you accept the Perth Mint 1 oz Silver Kangaroo bullion coin, 99.99%, random year, in tubes, in brilliant uncirculated condition?" The Perth Mint coin the lists do name is covered on Australian Silver Kookaburra in an IRA.
Tubes, Monster Boxes and Commingled Silver Storage#
Silver takes room: $50,000 of Silver Kangaroos is 746 coins weighing about 51 pounds. At Delaware Depository, the 3 custodian options we read store silver coins commingled, not in your own box. Commingled storage pools your coins with other customers' coins of the same type. Segregated storage keeps yours apart. A "monster box" is the Mint's sealed carton of 250 coins. The 3 facts below describe $50,000 of Kangaroos at the September 29, 2026 price.
- Weight: 746 coins, about 23.2 kg (51.2 lb).
- Packaging: about 30 tubes of 25, or 3 boxes of 250.
- What comes back: like coins, possibly from another year.
At Delaware Depository, segregated storage through Entrust and STRATA covers gold, platinum and palladium only (schedules read September 29, 2026). GoldStar's Delaware Depository option segregates silver only as 1,000 oz bars. Segregated silver coins need another vault: International Depository Services (IDS), Texas Precious Metals Depository, A-Mark Global Logistics or the Texas Bullion Depository. Equity Trust's disclosure says commingled storage returns "the weight and general type of metals you purchased but may not receive the same brand, year, or condition".
Equity Trust's metals-only schedule (FS-0004-05 Rev. 081726) charges $125 plus $110 for non-segregated storage. That is $235 a year, or 0.47% of $50,000. GoldStar's schedule (GTC Rev. 01/2026) charges $90 plus $125, or $215 a year. What you get back under segregated vs commingled storage differs by custodian.
How Much Does a Silver Kangaroo Cost Over Spot in 2026?#
On September 29, 2026 a random-year Silver Kangaroo cost $67.02 at a large online dealer, 9.3% over the $61.34 silver price on the same page. The spot price is the market price of raw silver per ounce. The premium over spot is what you pay above it for minting and the dealer's cut. "Random year" means the dealer picks the date. How the spot price is set, and why you always pay more, is explained separately.
Is 9.3% high or low for a 1 oz silver coin? It sat mid-table that morning.
| Product (1 oz unless stated) | Price | Premium over $61.34 | Source and date |
|---|---|---|---|
| 2026 Silver Britannia | $63.22 | 3.1% | SD Bullion, September 29, 2026 |
| Generic silver round | $64.22 | 4.7% | SD Bullion, September 29, 2026 |
| 100 oz silver bar (per oz) | $65.22 | 6.3% | SD Bullion, September 29, 2026 |
| Silver Philharmonic, random year | $66.21 | 7.9% | SD Bullion, September 29, 2026 |
| Silver Maple Leaf, random year | $66.22 | 8.0% | SD Bullion, September 29, 2026 |
| Silver Kangaroo, random year | $67.02 | 9.3% | SD Bullion, September 29, 2026 |
| Silver Britannia, random year | $67.52 | 10.1% | SD Bullion, September 29, 2026 |
| American Silver Eagle, random year | $68.22 | 11.2% | SD Bullion, September 29, 2026 |
| 2026 American Silver Eagle | $71.22 | 16.1% | SD Bullion, September 29, 2026 |
SD Bullion check/wire prices, September 29, 2026. Dealer names are data labels, not recommendations.
A second dealer, Money Metals, showed $68.05 for 1 to 9 coins on October 2, 2026, with its spot price at $61.86. That is 10.0% over spot. Its price for 500 or more coins was $66.05, or 6.8%. A $50,000 order is 746 coins, so it falls in that tier. We read that page through a text copy and did not check payment terms.
A chosen year can cost more than a random year. On October 2, 2026, APMEX showed random-year coins at $67.96 to $70.96 and 2026 coins at $67.96 to $72.96. JM Bullion showed the 2026 coin "From: $71.88". Both pages were read through a text copy. Commingled storage returns like coins, possibly from another year. The extra paid for a chosen year buys nothing you are sure to get back.
These are single mornings at named dealers, not a ranking, and premiums move daily. Premium over spot is only one of the gold IRA markups and spreads a buyer pays.
Round-Trip Cost and Break-Even for Silver Kangaroos#
Buying a few Silver Kangaroos and selling them back the same day cost about 18% to 19% at the 2 dealers we checked. Silver had to rise about 22% to 24% before the coins broke even. At the 500-coin price the loss fell to 15.4%. The bid, or buy-back price, is what a dealer pays you for the coin. A round trip is buying and then selling. Break-even is the point where the sale returns what you paid.
| Product | Ask | Bid | Round-trip loss | Rise needed to break even | Dealer, date |
|---|---|---|---|---|---|
| Silver Kangaroo | $67.02 | $54.27 | 19.0% | 23.5% | SD Bullion, September 29, 2026 |
| Silver Kangaroo (1 to 9 coins) | $68.05 | $55.86 | 17.9% | 21.8% | Money Metals, October 2, 2026 |
| Silver Kangaroo (500 or more coins) | $66.05 | $55.86 | 15.4% | 18.2% | Money Metals, October 2, 2026 |
| American Silver Eagle | $68.22 | $58.27 | 14.6% | 17.1% | SD Bullion, September 29, 2026 |
| Silver Maple Leaf | $66.22 | $56.27 | 15.0% | 17.7% | SD Bullion, September 29, 2026 |
| Silver Philharmonic | $66.21 | $54.27 | 18.0% | 22.0% | SD Bullion, September 29, 2026 |
| Silver Britannia, random year | $67.52 | $54.27 | 19.6% | 24.4% | SD Bullion, September 29, 2026 |
| 100 oz silver bar (per oz) | $65.22 | $55.27 | 15.3% | 18.0% | SD Bullion, September 29, 2026 |
Computed by SafeOunce. The SD Bullion bids come from a sell page that may lag the live quote. Both Money Metals rows use one buy-back price, read through a text copy. One morning each, not a ranking.
The dealer that paid $58.27 for a Silver Eagle paid $54.27 for a Kangaroo. The Eagle costs $1.20 more to buy and returns $4.00 more when sold.
How long does a 23.5% gap take to close? At a 5% rise a year it takes about 4.3 years. That rate is an illustration, not a forecast.
Storage and custodian fees run beside the spread. They are $215 to $235 a year on the 2 schedules above, or about $1,075 to $1,175 over 5 years. The break-even figure does not include them. Run your own ask and bid through the gold IRA break-even calculator.
What $50,000 Buys: Silver Kangaroo vs Other 1 oz Silver#
$50,000 bought 746 ounces in Silver Kangaroos on September 29, 2026, against 791 ounces in 2026 Britannias and 733 ounces in Silver Eagles.
| Product | Price per oz | Ounces for $50,000 | Silver value at $61.34 | Difference vs Kangaroo (oz) |
|---|---|---|---|---|
| 2026 Silver Britannia | $63.22 | 790.9 | $48,513 | +44.8 |
| Generic silver rounds | $64.22 | 778.6 | $47,758 | +32.5 |
| 100 oz silver bars | $65.22 | 766.6 | $47,025 | +20.6 |
| Silver Philharmonic | $66.21 | 755.2 | $46,322 | +9.1 |
| Canadian Silver Maple Leaf in an IRA | $66.22 | 755.1 | $46,315 | +9.0 |
| Silver Kangaroo | $67.02 | 746.1 | $45,762 | 0 |
| American Silver Eagle, random year | $68.22 | 732.9 | $44,957 | -13.1 |
Computed by SafeOunce from SD Bullion prices of September 29, 2026; custodian and storage fees not included.
The 746 Kangaroos held $45,762 of silver and sold back for $40,488 at the $54.27 bid. That is $9,512 less than the buyer paid, on a bid that may lag.
The Kangaroo buyer holds 44.8 fewer ounces than the Britannia buyer, about $2,750 of silver. The same buyer holds 13.1 more ounces than the Silver Eagle buyer, about $805. The one silver coin the law names is covered on American Silver Eagle in an IRA.
Silver Kangaroo, Another Silver Coin or Silver Bars: Which Fits Your IRA?#
The Silver Kangaroo is a sound, eligible bullion coin, but on the mornings we checked it was neither the cheapest ounce nor the easiest coin to clear with a custodian. The table below matches 6 reader situations to a choice.
| Your situation | Choice to look at | Why |
|---|---|---|
| You want the most silver per dollar | The cheapest .999 coin of the day, or 100 oz bars | On September 29, 2026 those cost 3.1% and 6.3% over spot, against 9.3% for the Kangaroo. Bar sizes and refiners are listed on IRA-eligible silver bars |
| You want a government-mint coin at 99.99% and accept a mid-table premium | Silver Kangaroo or Silver Maple Leaf | 9.3% and 8.0% over spot on September 29, 2026 |
| You want a coin every custodian list names | Silver Eagle, Silver Maple Leaf or Kookaburra | All 3 lists read October 2, 2026 name them; none names the Silver Kangaroo |
| You care most about the price when you sell | Compare bids before you buy | On September 29, 2026 the Silver Eagle bid was $4.00 above the Kangaroo bid, on a sell page that may lag |
| A seller offers a "limited", proof, graded or Royal Australian Mint Kangaroo | Ask for the Perth Mint bullion coin | Custodians exclude "rare or collectible" coins |
| You already own Kangaroos at home | Keep them outside the IRA | You cannot contribute coins; contributions must be cash (26 U.S.C. 408(a)(1)) |
Prices: SD Bullion, September 29, 2026. Custodian lists: STRATA, GoldStar and Equity Trust, read October 2, 2026.
You should weigh three things in this order: the custodian's written yes, the premium, and the bid.
The cheapest coin on September 29, 2026 was the 2026 Silver Britannia at 3.1% over spot. Only 2013-and-later coins qualify, as British Silver Britannia in an IRA explains.
What a Dealer's "IRA Approved" Badge Does Not Tell You#
"IRA Approved" on a dealer page means only that the dealer believes the silver is .999 or purer. It is not a ruling by the IRS or a yes from your custodian. The badge leaves out the 3 things listed below.
- Price: the badge says nothing about the premium or the buy-back bid.
- Custodian: it is not your custodian's acceptance.
- Which coin: it can sit on collector and odd-year coins too. One US dealer's page filed a 2015 ".999" Kangaroo under "IRA Approved Silver" beside a 1993 collector coin (October 2, 2026).
American Hartford Gold's Shipping and Transaction Agreement (September 2026) permits a bullion spread of up to 19.99%. A 19.99% spread equals a 25.0% markup, or up to $9,995 of a $50,000 purchase. Two regulator cases show how far silver coin prices have gone.
| Case (linked to the primary record) | Court and number | Coin | Alleged markup | Status |
|---|---|---|---|---|
| CFTC and 30 states v. TMTE, Inc. (Metals.com) | N.D. Tex. No. 3:20-cv-02910-X | 1/2 oz silver Polar Bear (Royal Canadian Mint) | The CFTC alleged an average 213% over market price (complaint, paragraph 51) | Pending as of September 29, 2026; civil trial set for March 1, 2027; nothing proven |
| SEC v. Red Rock Secured, LLC | C.D. Cal. No. 2:23-cv-03682, filed May 15, 2023 | 1/2 oz silver Red-Tailed Hawk (Royal Canadian Mint) | 130%, alleged in the complaint (paragraph 72) | Consent judgments entered April 23, 2024; "more than $76.4 million" (SEC Litigation Release LR-25996, May 7, 2024); the firm now operates as American Coin Co. |
Sources: CFTC release 8254-20; SEC Litigation Release LR-25996. Markups are allegations in the complaints.
Neither case involved Kangaroos. Both involved silver coins that were legal to hold in an IRA and were sold, regulators say, at more than double their silver value. The harm came from the price, not the eligibility. The CFTC calls "semi-numismatic" "a made-up industry term that really has no special meaning". Both cases are dated in our tracker of precious metals IRA enforcement actions.
How Do Silver Kangaroos Fit Into the Rest of a Silver IRA?#
The Silver Kangaroo's eligibility takes one line of the tax code; the account rules around it (custody, withdrawals, reporting) decide what the coin is worth to you. This page gives no advice on whether silver is a good investment. Whether a silver IRA suits you at all, given costs, risks and silver's price swings, is weighed on the hub page.
Custody and withdrawals follow the same gold IRA rules for every metal.
Can You Keep IRA Silver Kangaroos at Home?#
No: silver bullion qualifies only while it is "in the physical possession of a trustee". The Tax Court applied the same custody rule even to Silver Eagles the law names. The case is McNulty v. Commissioner, 157 T.C. No. 10 (November 18, 2021). An IRA-owned company bought coins, and the owner kept them in a home safe. They included 2,000 one-ounce Silver Eagles bought for $37,380 in 2016, or $18.69 each. The court treated the coins as a taxable payout.
Every home storage gold IRA pitch fails the same custody test. The facts of McNulty v. Commissioner are explained page by page.
Taking Silver Kangaroos Out: Weight, RMDs and In-Kind Distributions#
You can take Silver Kangaroos out of the IRA as coins, and their fair market value on the distribution date counts as ordinary income from a traditional IRA. That is an in-kind distribution: the custodian ships the metal instead of selling it. A required minimum distribution (RMD) is the amount you must withdraw each year. RMDs start at age 73 if you were born from 1951 to 1958, and at 75 if born in 1960 or later (IRS Publication 590-B).
The worked example below assumes a traditional IRA, age 75, $50,000 of silver on December 31 and a dealer spot price of $61.34.
- Divide the balance by the IRS factor for age 75: $50,000 / 24.6 = $2,032.52.
- Convert to silver: $2,032.52 / $61.34 = 33.1 ounces.
- Round up to whole coins: 34 coins = $2,085.56 of taxable income, $53.04 more than required.
- Add the fee: GoldStar charges $75 plus $10 plus shipping (GTC Rev. 01/2026); Equity Trust charges $125 per transaction (FS-0004-05 Rev. 081726).
Those 34 coins weigh about 1.06 kg (2.3 lb). Ages and divisors for gold IRA required minimum distributions apply to silver too. The steps and fees for gold IRA distributions in kind differ by custodian.
How Much Is a 1 oz Silver Kangaroo Worth?#
A 1 oz Silver Kangaroo is worth its ounce of silver plus a premium. On September 29, 2026 that was $67.02 to buy and $54.27 to sell at one large dealer, against its spot price of $61.34. The sell price came from a page that may lag. The A$1 face value is not the coin's worth. Collector versions and the Royal Australian Mint coin sell for more and are outside this page.
Does the IRS Know If You Buy Silver for an IRA?#
Yes: your custodian reports the IRA's year-end value to the IRS on Form 5498 and every withdrawal, cash or coins, on Form 1099-R (26 U.S.C. 408(i)). Form 5498 is the yearly account statement the IRS receives. Form 1099-R is the withdrawal report. Each of the IRS forms 1099-R and 5498 is explained line by line.
Is the Gold Kangaroo IRA-Eligible Too?#
Yes: the Perth Mint's Gold Kangaroo is .9999 gold, above the .995 minimum for gold, and unlike the silver coin it is named on all 3 custodian lists we read. The 1 oz gold coin has a face value of A$100. STRATA, GoldStar and Equity Trust each list it as "Australian Kangaroo/Nugget" (lists read September 29, 2026).