What can you not buy in an ira?

Key Takeaways Collectibles, such as works of art, carpets, antiques, metals like IRA Gold and silver, gems, stamps, coins and alcoholic beverages, cannot be held in these accounts. The IRS doesn't have a list of “approved investments” for self-managed IRAs, but what it does have is a list of types of investments, transactions, and prohibited situations where you don't want your IRA to participate.