You are not allowed to invest your IRA money in collectibles such as artwork, rugs, stamps, gems, alcoholic beverages such as fine wine, and antiques. If you invest any part of your IRA in a collectible, you will get a tax bill for it. The Tax Code treats your investment in a collectible as a distribution, which means it’s taxable to you. Also, if you’re under age 59 ½ at the time of the investment, the deemed distribution will be subject to the 10% early distribution penalty tax too. The entire value of your IRA is not deemed distributed to you, only the amount invested in the collectible is taxable.