Anyone else seeing crazy fees for their Silver IRA custodian lately? Or can recommend better?

Carol Carter

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🥈 Silver Coins

Anyone else seeing crazy fees for their Silver IRA custodian lately? Or can recommend better?

carol_carter💰Established (100-250k)

about 1 month ago

Key Takeaways

•I've got mostly gold, but about 20% of my ~180k IRA portfolio is in silver coins.
•Always thought Equity Trust was pretty standard, nothing to complain about, but I swear their annual custodian fees have steadily crept up.
•I just got my statement for the next year and it feels like it's getting a bit ridiculous.

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Okay, so I've been with Equity Trust for my Gold and Silver IRA for years now, probably since 2017 or so when I first decided to diversify part of my retirement savings into physical precious metals. I've got mostly gold, but about 20% of my ~180k IRA portfolio is in silver coins. Always thought Equity Trust was pretty standard, nothing to complain about, but I swear their annual custodian fees have steadily crept up. I just got my statement for the next year and it feels like it's getting a bit ridiculous. I'm in Omaha, so not exactly a hub for specialized IRA custodians.

I know there are some flat fees and then tiered fees based on asset value, but for my silver, it just feels like the storage and admin is eating a bigger chunk than it used to. Maybe I'm just hyper-aware since my regular investments (mostly VOO and some boring mutual funds) have been a bit stagnant this year, but still. I've always seen the metals part of my portfolio as a long-term hedge, especially being an insurance agent myself and seeing how unpredictable things can get. It's not about making huge gains, but preserving wealth.

So, has anyone else noticed this with their current custodian, or am I just being overly sensitive? More importantly, has anyone used other custodians for their silver coins specifically that they'd really recommend? I'm talking about good communication, reasonable fees (especially for silver storage which I know can be pricier due to volume/weight), and generally smooth processes. I'm not looking to move the whole thing on a whim, but if there's a significantly better option out there, I'd at least explore it. Peace of mind is worth a lot, but so is not getting nickel-and-dimed.

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5 comments

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Best Answer▲ 10 upvotes

frank_rivera💎Premium (500k-1m)

Oh man, I hear you. Not with Equity Trust specifically, but I had a similar sticker shock with Augusta Precious Metals last year. My holdings are smaller than yours, but the fees for my silver just jumped out of nowhere. I've been looking into Noble Gold – a buddy of mine swears by them for lower fees. Might be worth checking out if you're shopping around.

Comments (5)

frank_rivera💎Premium (500k-1m)Real Investor•about 1 month ago

charles_lewis💎Premium (500k-1m)Real Investor•about 1 month ago

Interesting. You mentioned "mostly gold, but about 20% of my ~180k IRA portfolio is in silver coins." When you say silver coins, are those purely bullion coins (like Eagles, Maples, etc.) or do you have any numismatic/collectible silver in there? Wondering if that might impact the custodian fees, depending on how they categorize and value them.

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•about 1 month ago

Honestly? I'm a bit surprised you're still holding a significant chunk of silver within your IRA. For a $180k portfolio, especially with a 20% silver allocation, the storage fees alone can really eat into any gains, not to mention the wider bid-ask spread on silver compared to gold. It's often debated if silver truly earns its keep in an IRA unless you have a very specific, long-term thesis for it outperforming. Might be worth crunching the numbers to see if you're actually ahead after all those custodian costs.

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•about 1 month ago

Hey, I hear you on the fees! It definitely pays to shop around, especially with silver. One thing I'd recommend is looking for custodians that offer segregated storage for your metals. It might cost a tiny bit more, but knowing your specific coins are *your* specific coins, separate from everyone else's commingled metal, can be a huge peace of mind. Check out a comparison site like Investopedia's best Gold IRA companies – they often break down storage options and fees pretty well.

frank_rivera💎Premium (500k-1m)Real Investor•about 1 month ago

Yeah, I've noticed the same thing, unfortunately. I'm with Kingdom Trust and their flat annual fee just jumped from $150 to $200. Not a massive amount, but it stings when you're used to a certain rate and haven't seen any improvement in service to justify it. Feels like everyone's hiking fees lately.

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