Custodian fees for gold rounds - checking my estimates

Ruth Perez

Back to forum

⭕ Gold Rounds

Custodian fees for gold rounds - checking my estimates

ruth_perez📊Growing (50-100k)

about 10 hours ago

Key Takeaways

•Okay, so I'm trying to fine-tune my Gold IRA strategy here.
•The nice thing about that government pension is it's decent, but I want that extra cushion, you know?
•I set this whole thing up about three years ago, and I feel like I'm paying a decent chunk in custodian fees.

Download the free rollover checklist

Okay, so I'm trying to fine-tune my Gold IRA strategy here. I've got about $75k in physical gold rounds (mostly Buffalos and some Eagles) stashed away, and I'm really looking to beef up the pension supplement when I eventually retire from the state here in Albuquerque. The nice thing about that government pension is it's decent, but I want that extra cushion, you know?

I set this whole thing up about three years ago, and I feel like I'm paying a decent chunk in custodian fees. Right now, I'm with a larger, well-known company, and it feels like their annual fees are eating into my gains. I'm paying around $250 a year for storage and admin, which for $75k feels a little high, especially since it's just plain old gold rounds, not some complicated numismatic stuff. I've seen some places advertise flat fees, and others based on a percentage. What's the sweet spot folks are generally finding?

I'm trying to figure out if it's worth the hassle of transferring custodians. Has anyone done that recently? Was it a nightmare, or pretty straightforward? Also, what kind of fees are you guys seeing for smaller portfolios, say under $100k? I'm hoping to get to six figures within the next 18 months, but right now, every dollar counts. Any recommendations for reliable custodians that are more budget-friendly for this amount when it comes to just standard gold rounds? Any advice would be appreciated!

5 comments

Considering a Gold IRA for your retirement?

Get a free info kit from a top-rated company — trusted by thousands of investors.

Under $100k? Compare options →

37 people viewed this today4 members requested a free kit this week7 investors bookmarked this

Best Answer▲ 9 upvotes

catherine_bell🏆Advanced (250-500k)

Totally agree with what you're saying about the fees. I've been looking into Gold IRAs too, and the custodian fees are definitely something to factor in. For my $100k in Eagles, the quotes I've gotten so far range from around $200-$250 annually, which seems pretty consistent with your estimates. Good luck with the retirement planning!

Comments (5)

elizabeth_johnson💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Wow, this is super timely! I'm in a similar boat, though with a bit less in rounds right now. I've been trying to figure out if it's worth consolidating with one of the bigger IRA custodians to maybe get a better deal on fees, or if my current setup with a local outfit is actually okay for the amount I have. Good luck with your research, looking forward to seeing what others recommend!

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

Hey, cool you're getting your Gold IRA sorted! You mentioned "physical gold rounds" - are these already in your possession, or are you looking to buy them and then have them transferred into an IRA?

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

Hey, cool you're planning ahead! Just a thought, but have you considered how the premium on those Buffalos and Eagles might affect your overall returns compared to just plain gold bars? While they're awesome for personal collecting, that premium can eat into your growth when it comes to an IRA setting. Sometimes the "boring" options are more efficient for wealth building. Just something to chew on!

helen_turner💰Established (100-250k)Real Investor•less than a minute ago

Hey, good on you for planning ahead! Just a quick tip on those custodian fees – sometimes they're a flat annual fee, and sometimes they're a percentage of the asset value. Make sure you know which one your custodian uses, especially with a decent chunk like $75k. A flat fee can be a better deal as your gold appreciates.

Also, it might be worth checking if your custodian offers any discounts or tiered pricing for higher asset values, as some do. Good luck with the retirement planning!