Custodian fees for my Gold IRA - what are you all paying, no really?

Steven Mitchell

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Custodian fees for my Gold IRA - what are you all paying, no really?

steven_mitchell🏆Advanced (250-500k)

about 2 hours ago

Key Takeaways

•Alright, so I’m really trying to dig into the custodian fees for my Gold IRA.
•I’ve currently got about $380k in precious metals, mostly gold and some silver, tucked away.
•Always good to support local when you can, and being a manufacturing guy, I just like knowing things are physically *there* and secure.

The 3-step rollover process explained

Alright, so I’m really trying to dig into the custodian fees for my Gold IRA. I’ve currently got about $380k in precious metals, mostly gold and some silver, tucked away. I’ve been with Equity Trust for a while now, largely because they’re based right here in Ohio, not too far from Cleveland actually, which I appreciate. Always good to support local when you can, and being a manufacturing guy, I just like knowing things are physically there and secure.

My current fee structure with them is generally around $275 annually, which covers both the custody and the storage at Delaware Depository. But I’m looking at some of the paperwork and just wondering if I’m getting the best deal. I’ve seen some companies advertising flat fees that sound lower, but then you dig and there are all these separate line items for storage, administration, statements, etc. It feels like they play games with the numbers.

For those of you with significant gold/silver holdings in your IRAs – what are you actually paying for total custodian and storage fees each year? Are you seeing flat fees or are they broken out? Did you negotiate at all? I’m trying to figure out if it's worth the hassle of potentially moving my account, which I REALLY don't want to do, or if I should just stick with what I know. I value the peace of mind, but I also don't want to be overpaying just because I'm comfortable.

Any insights, especially from fellow hard asset investors, would be hugely appreciated. Is there a point where custodian fees scale down, or do they tend to hold steady once you hit a certain asset value? Thanks in advance for sharing your experiences!

3 comments

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Best Answer▲ 7 upvotes

nancy_hall💰Established (100-250k)

Hey, this is super helpful. I'm curious, when you say "not too far from Cleveland," are you talking about their actual vault location, or just their main office? Trying to get a sense of how accessible it is if I ever needed to visit.

Comments (3)

linda_taylor📊Growing (50-100k)✓ Verified•less than a minute ago

Wow, $380k in metals, nice! I was actually in a pretty similar boat with Equity Trust a few years back. My portfolio wasn't quite as chunky as yours, but I started feeling like the fees were just creeping up year after year, especially with the storage costs. Ended up doing some serious shopping around and found a place that offered a flat annual fee, which worked out way better for me in the long run. Good luck with your search!

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

sandra_green📊Growing (50-100k)✓ Verified•less than a minute ago

Honestly, I'm a bit surprised you're still with Equity Trust, especially with that kind of capital. With $380k, you'd think you'd be getting some more competitive rates or at least a bit more personalized service.

I've seen folks with similar amounts getting much lower annual fees, often flat fees that don't scale up as much. Might be worth shopping around a little, even if they are local. Sometimes local convenience doesn't outweigh significant savings over time, especially with precious metals.

The Fed can't print gold — that's the point

Learn why retirees are moving savings into physical metals. Free investor kit.

Under $100k? Compare options →