Who is eligible for a Traditional IRA? December 02, 2020 19:22 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? Can I have more than one IRA? What kind of precious metals can I invest in? What documentation is needed to process my application? What are the rules and rates for Sales Tax in the U.S.?