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    Custodian fees for my Gold IRA - anyone else seeing this?

    J
    Key Takeaways
    • My Gold IRA is a significant chunk of that, north of $2M at this point.
    • I'm doing my annual review of my accounts, and these custodian fees are starting to feel a bit… sticky.
    • It just feels like there should be some economies of scale here that aren't being passed on.
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    I’ve been retired off Wall Street for a while now, living comfortably in NYC, and my portfolio's heavily skewed towards physical metals – always has been. My Gold IRA is a significant chunk of that, north of $2M at this point. I'm doing my annual review of my accounts, and these custodian fees are starting to feel a bit… sticky. I'm with one of the bigger players, been with them for years actually, and while I understand the need for secure storage and administrative services, the flat fees seem to be creeping up.

    Specifically, I'm looking at their "asset protection fee" and "annual storage fee." They're not a percentage, which I appreciate, but when you're holding a decent amount of metal, even a few hundred extra dollars a year starts to feel like a drag. It just feels like there should be some economies of scale here that aren't being passed on. I’m wondering if this is just the going rate across the board, or if I should really be shopping around for a better deal. I briefly looked at some smaller, boutique firms, but the thought of moving all that metal is a headache I'd rather avoid unless the savings are substantial.

    Has anyone else here with a similar-sized Gold IRA (say, above ~$1M) done a deep dive into custodian fees recently? Are there specific companies that are known for being more competitive, especially for larger accounts? I’m mostly concerned with the total annual cost, including all their various charges. What’s your current custodian charging you annually for a ~7-figure Gold IRA, and how do you feel about it? Trying to get a sense of whether I'm being reasonable or if these are just the predictable costs of doing business securely.

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    3 comments

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    Best Answer▲ 7 upvotes
    J
    joshua_phillips🏆Advanced (250-500k)

    Totally get this. I'm not at your level, but I recently moved a much smaller, yet still significant, portion of my retirement into a Gold IRA. The custodian fees were definitely a surprise when I broke it down. Had to really shop around to find something reasonable. It's like they assume if you're holding gold, you're just independently wealthy and won't notice. Good luck!

    Comments (3)

    1
    catherine_bell🏆Advanced (250-500k)Real Investorless than a minute ago

    NYC, retired off Wall Street, $2M+ in a Gold IRA... dang, living the dream! 😂

    You mentioned "these custodian fees" like you're seeing a trend or something new. Are they just higher than you expected, or have they actually increased year-over-year? Just curious if it's a general market thing or specific to your custodian.

    7
    joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verifiedless than a minute ago

    Totally get this. I'm not at your level, but I recently moved a much smaller, yet still significant, portion of my retirement into a Gold IRA. The custodian fees were definitely a surprise when I broke it down. Had to really shop around to find something reasonable. It's like they assume if you're holding gold, you're just independently wealthy and won't notice. Good luck!

    1
    christopher_young🌟Ultra (5m+)Real Investor✓ Verifiedless than a minute ago

    Honestly, with a $2M Gold IRA, those fees are probably a drop in the bucket relatively speaking. I get that no one *wants* to pay fees, but for the security and specialized handling that comes with physical gold, especially at that scale, it's kind of the cost of doing business, no? You're not exactly dealing with a basic stock ETF here. Might be worth weighing the cost against the peace of mind and asset protection you're getting.

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