Custodian fees for gold IRAs - what are you all paying?

Paul Hill

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Custodian fees for gold IRAs - what are you all paying?

paul_hill🏆Advanced (250-500k)

about 10 hours ago

Key Takeaways

•Hey everyone, I've been doing a deep dive into custodian fees lately, and honestly, it feels like navigating a minefield.
•I've got a decent chunk in my Gold IRA, around $350k worth of various gold coins – mostly Eagles and Maples, plus some Buffaloes.
•My current custodian, bless their heart, charges me about $250 annually for storage and admin.

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Hey everyone, I've been doing a deep dive into custodian fees lately, and honestly, it feels like navigating a minefield. I've got a decent chunk in my Gold IRA, around $350k worth of various gold coins – mostly Eagles and Maples, plus some Buffaloes. I opened it about 7 years ago, so I've seen a few fee increases over time, but I'm starting to wonder if I'm getting a good deal or if I should be shopping around more aggressively.

My current custodian, bless their heart, charges me about $250 annually for storage and admin. That doesn't sound like a ton on its own, but when you break it down, it feels like it adds up. I’m based out of Salt Lake City, and while there are a few local options that advertise Gold IRAs, most of them seem to be reselling larger national custodians anyway. My financial advisor even helps clients set up gold IRAs, but even he admits the fee structures can be opaque.

So, here’s my question: What are you all paying for your Gold IRA custodian fees? Are there any hidden gems out there with lower pricing, or flat fees that make more sense for larger accounts? I'm debating whether to just stick with what I know, or if the potential savings from switching is worth the hassle. Any horror stories or success stories with specific custodians would be greatly appreciated. Thanks!

3 comments

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Best Answer▲ 10 upvotes

michael_anderson🏆Advanced (250-500k)

Totally get the frustration with fees, it's a constant battle. But honestly, $350k is a pretty substantial portfolio for a gold IRA. At that level, you probably have a bit more leverage than someone with, say, $50k. Have you tried directly negotiating with your custodian, or even shopping around for a new one specifically mentioning your portfolio size? You might find some are willing to offer a more competitive tiered fee structure or even waive certain charges to get your business. Just a thought!

Comments (3)

catherine_bell🏆Advanced (250-500k)Real Investor•less than a minute ago

Oh man, I hear you! It felt like I was reading my own financial diary for a second there. I'm in a pretty similar boat, around $300k, mostly Eagles and some pre-33s, opened about 6 years ago. My custodian's fees have definitely crept up over time, which is why I've been keeping an eye on this thread. It's tough because you don't want to jump ship for a slightly lower fee only to end up with worse service, but at the same time, those fees add up!

I'm currently paying a flat annual fee of $250, plus a separate storage fee for segregated storage that's another $175. So, all in, about $425 a year. It felt reasonable initially, but now I'm starting to wonder if I could do better. Interesting to see what others are reporting!

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•less than a minute ago

Interesting! So you're holding mostly Eagles and Maples, with some Buffaloes thrown in. Are they all segregated storage, or commingled? Wondering if that impacts the fees you're seeing compared to others.