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    Custodian fees for my Platinum IRA - what am I missing?

    R
    ronald_morris👑Elite (1m-5m)
    about 2 months ago
    Key Takeaways
    • I've been doing my due diligence, comparing the usual suspects like Augusta, Goldco, and Birch Gold on their fees.
    • I thought I had a handle on things, but now I'm seeing such a wide range in custodial fees for the Platinum.
    • Some are flat annual fees, others are tiered based on account value, and it's making my head spin a bit.
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    I've been looking to roll over a portion of my TSP into a Platinum IRA – about $750k I'm thinking, just a hedge against this inflationary environment. I've been doing my due diligence, comparing the usual suspects like Augusta, Goldco, and Birch Gold on their fees. I thought I had a handle on things, but now I'm seeing such a wide range in custodial fees for the Platinum. Some are flat annual fees, others are tiered based on account value, and it's making my head spin a bit. Is it just me, or does it feel like this is more opaque than it needs to be?

    For context, I'm a retired Navy Admiral here in Virginia Beach, and I'm used to clear, concise information. This feels like searching for a needle in a haystack, and frankly, it's frustrating. One company quoted me a $225 annual fee for accounts up to $1M, then another said $275 regardless of value, and then a third was talking 0.15% of the asset value which, for $750k, is a fair chunk of change. This is for essentially the same service, holding physical platinum. Am I overthinking this, or are there genuine benefits to paying a higher custodian fee with certain companies?

    I’m particularly interested in hearing from anyone who has a Platinum IRA with a similar balance. What custodian did you go with and why did you choose them? Are there any hidden fees or charges I should be looking out for that aren't explicitly stated on their websites? I typically use a comprehensive tool like the Retirement Planner to project my retirement income, and these variable fees are making it tough to get an accurate long-term picture. Any insights would be greatly appreciated.

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    7 comments

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    Best Answer▲ 13 upvotes
    J
    joshua_phillips🏆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 (7)

    8
    ruth_perez📊Growing (50-100k)about 2 months ago

    Hey, I hear ya on the fees! I had a similar head-scratcher when I was looking into rolling over an old 401k into a precious metals IRA. Those custodian fees can really sneak up on you. Definitely worth digging into the details beyond the initial sales pitch. Good luck with your research!

    5
    patricia_miller📊Growing (50-100k)✓ Verifiedabout 2 months ago

    Hey, just curious - why specifically a Platinum IRA? Is there something about platinum you favor over gold or silver for this hedge?

    4
    linda_taylor📊Growing (50-100k)✓ Verifiedabout 2 months ago

    Hey, interesting you're looking at platinum. Just a thought, but have you considered the liquidity of platinum compared to gold or silver for an IRA? While it can be a great hedge, selling platinum in a pinch might not be as straightforward as selling gold, especially with that kind of capital. Might be worth factoring into your due diligence!

    9
    linda_taylor📊Growing (50-100k)✓ Verifiedabout 2 months ago

    Hey, quick tip: when you're comparing custodian fees, make sure you're digging into *all* the potential charges. Sometimes the headline annual fee looks low, but they hit you with transaction fees, storage fees (which can vary wildly depending on segregated vs. commingled storage), or even termination fees down the line. It's wild how much those can add up!

    You might find this resource helpful for a more detailed breakdown: Investopedia on Gold IRA Fees. Good luck with the rollover!

    13
    joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verifiedabout 1 month ago

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

    12
    nancy_hall💰Established (100-250k)Real Investorabout 1 month ago

    Genuinely curious — has anyone here actually tried to liquidate from their gold IRA? How smooth was that process?

    12
    thomas_walker🏆Advanced (250-500k)Real Investor✓ Verifiedabout 1 month ago

    I rolled over about $80k last year. Honestly the hardest part was just picking which metals to hold. Still second-guessing myself.

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