Custodian Fees - Are These Normal? Feeling a bit fleeced lately.

Maria Campbell

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Custodian Fees - Are These Normal? Feeling a bit fleeced lately.

maria_campbell📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I've got around $75K in my IRA, mostly in Eagles and Maple Leafs, which I started putting together about 8 years ago.
•But every time that annual statement comes in with those fees, I just do a double-take.
•Right now, I'm paying about $200 annually for storage and admin combined.

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Okay, so I've been wrestling with what feel like kinda high custodian fees for my Gold IRA lately, and it's got me wondering if I'm just out of touch with the market or if I need to start shopping around. I've got around $75K in my IRA, mostly in Eagles and Maple Leafs, which I started putting together about 8 years ago. Love the peace of mind gold brings, especially with everything going on these days – reminds me a lot of the stability I try to bring to our small town here in Boise. But every time that annual statement comes in with those fees, I just do a double-take.

Right now, I'm paying about $200 annually for storage and admin combined. It’s not a huge amount in the grand scheme of things, but it feels like a lot for essentially holding some metal. My current custodian has been fine, no real complaints about service, but I'm a community guy, and I look for value in everything. I'm wondering what others here are paying, especially those of you with similar portfolio sizes. Is $200 in the ballpark for a $75k Gold IRA, or should I be seeing if there are better options out there? I've seen some companies advertising lower or even 'free' fees, but always assume there's a catch.

I'm also starting to think about my RMDs down the line, given I'm hitting my mid-60s soon. It's not something I've actively had to deal with yet, but I know it's coming. Has anyone here used that RMD Calculator from Gold IRA Blueprint? I saw it mentioned in another thread and it looks like a handy tool for planning out those distributions, which might also factor into which custodian I stick with, especially if they have different fee structures for RMD liquidations. What's your experience been like?

Would love to hear if anyone has successfully negotiated lower fees with their existing custodian, or if switching to a new one was worth the hassle. I'm not afraid of a bit of paperwork if it means saving a decent chunk of change over the next decade. All insights and recommendations are much appreciated!

6 comments

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Best Answer▲ 18 upvotes

donna_rogers🏆Advanced (250-500k)

Been looking into this myself — the fees on some of these custodians are wild. Anyone found one that doesn't gouge you?

Comments (6)

margaret_chen🏆Advanced (250-500k)Real Investor•about 2 months ago

Totally feel this, OP. I had a similar "wait, what?" moment with my silver IRA a while back. My balance isn't quite as high as yours, but the fixed fee structure meant it felt like a disproportionately large chunk was going to the custodian. Definitely worth shopping around; I ended up finding a much more reasonable setup after a bit of digging.

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Hey, I hear you on the custodian fees! It feels like they just keep creeping up. Quick question though: Are your fees a flat annual rate, or are they a percentage of your holdings? That makes a pretty big difference in how "normal" they might be.

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Hey, I hear you on the fees, they can definitely feel like a kick in the teeth sometimes. But honestly, for $75k, Eagles and Maple Leafs, those fees *might* actually be pretty reasonable depending on your specific custodian and their tier structure. Some places have higher base fees that make smaller accounts feel a bit fleeced, but then scale down nicely for larger balances. Have you actually compared what you're paying to 2-3 other well-regarded Gold IRA custodians? You might be surprised that you're actually in the ballpark, or even doing better than some. It's always worth a look though!

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Hey there! It's totally valid to question those fees, especially as your holdings grow. One thing I learned early on is that some custodians have tiered fee structures, and sometimes if you're just over a certain threshold, you might be paying significantly more for the next tier up without much added benefit.

It might be worth checking if your current custodian offers any kind of "fee schedule" breakdown where you can see exactly how it's calculated. Also, I found this Investopedia article on choosing a gold IRA custodian pretty helpful when I was shopping around; it covers fees and other important considerations. Good luck!

donna_rogers🏆Advanced (250-500k)Real Investor•about 2 months ago

Totally agree with you, OP. Those fees can definitely sting, especially when you feel like you're already doing your due diligence by investing in physical. I'm sitting at around $80k in my Gold IRA with a similar mix of coins, and I pay about $250 annually. I've heard of some folks paying closer to $150-$200 for similar amounts, so it might be worth shopping around if yours is significantly higher. Good luck!