Who is eligible for a Traditional IRA? June 19, 2020 15:48 Updated If you are under age 70 1/2, and have earned income, you’re eligible for an IRA, including one that holds precious metals. Related articles Can I transfer money from an existing IRA account to fund another IRA without incurring any tax penalties? When will I be eligible for distributions from my IRA? Can I have more than one IRA? What kind of precious metals can I invest in? Do I have to liquidate any other investments in order to transfer assets to my account?