Custodian fees for my Platinum IRA - what's everyone paying?

Catherine Bell

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🔲 Platinum IRA

Custodian fees for my Platinum IRA - what's everyone paying?

catherine_bell🏆Advanced (250-500k)

about 2 months ago

Key Takeaways

•My total precious metals allocation is around $300k right now, but I'm thinking of moving another significant chunk, maybe $75k-$100k, into platinum.
•I’ve been talking to a few different custodians and the fee structures are all over the place.
•One place quoted me a flat $250/year for everything under $1M, which sounded pretty good.

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I’ve been eyeing a Platinum IRA for a while now, given some of the market shifts and wanting to further diversify the portfolio my family’s built over generations. We’ve got a good chunk in physical gold through Augusta Precious Metals, but I'm looking to add platinum to the mix, specifically for its industrial demand and growth potential. My total precious metals allocation is around $300k right now, but I'm thinking of moving another significant chunk, maybe $75k-$100k, into platinum.

I’ve been talking to a few different custodians and the fee structures are all over the place. Some have flat annual fees, others are percentage-based, and then there are the storage fees that vary wildly depending on whether it’s segregated or commingled and where the vault is. One place quoted me a flat $250/year for everything under $1M, which sounded pretty good. Another was talking 0.15% of asset value, plus separate storage, which with a $100k Platinum allocation would already be $150 and then storage on top.

My goal here is long-term wealth preservation and growth, not short-term trading. With timber prices being what they are, I'm trying to be smart about where the money goes. My family has always been about generational wealth, and this is just another piece of that puzzle. For those of you with Platinum IRAs, especially if it's a significant portion of your holdings, what are you paying in custodian and storage fees? Are there any hidden fees I should specifically be asking about? Any recommendations for custodians that are transparent and have competitive rates, especially for assets in the $100k-$500k range? I’m based in Spokane, WA, so while I know most of this is handled remotely, any regional insights would be a bonus.

200

6 comments

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Best Answer▲ 9 upvotes

joshua_phillips🏆Advanced (250-500k)

Hey, interesting thread! When you're comparing custodian fees, it's not just the annual percentage or flat fee you want to look at. Make sure to ask about any hidden or less obvious fees like transaction fees for buying/selling, storage fees (if separate from the custodian fee), or even wire transfer fees if you're moving money around.

Sometimes a slightly higher annual fee can be worth it if they don't nickel and dime you on every little thing. I found this Investopedia article pretty helpful for breaking down the full cost picture beyond just the headline numbers. Good luck!

Comments (6)

timothy_reed💎Premium (500k-1m)Real Investor•about 2 months ago

Hey, I hear you on the custodian fees! I opened a silver IRA a few years back and was a bit shocked by the annual maintenance costs initially. Felt like I was bleeding a little just for the privilege of holding it. Definitely worth shopping around and comparing what different custodians offer. Good luck with the Platinum!

sharon_evans💰Established (100-250k)Real Investor•about 2 months ago

Interesting, you already have a "good chunk in physical gold through Augusta Precious Metals." Are you planning to use them for the Platinum IRA as well, or are you looking at a different custodian for that?

charles_lewis💎Premium (500k-1m)Real Investor•about 2 months ago

Interesting, I've always heard more about Gold and Silver IRAs. Is there a specific reason you're looking into Platinum, or just diversifying even further with all the precious metals? I know platinum can be a bit more volatile sometimes, but maybe you're seeing a trend I'm not.

My custodian fees for my gold are pretty standard, but I wonder if platinum has different storage or insurance considerations that might affect the pricing. Good luck with the search!

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

Hey, interesting thread! When you're comparing custodian fees, it's not just the annual percentage or flat fee you want to look at. Make sure to ask about any *hidden* or less obvious fees like transaction fees for buying/selling, storage fees (if separate from the custodian fee), or even wire transfer fees if you're moving money around.

Sometimes a slightly higher annual fee can be worth it if they don't nickel and dime you on every little thing. I found this Investopedia article pretty helpful for breaking down the full cost picture beyond just the headline numbers. Good luck!

ronald_morris👑Elite (1m-5m)Real Investor•about 2 months ago

Oh man, I hear you. The fees can really add up, especially when you're talking physical metals. I'm with for my gold and silver, and their annual fee is a flat $125. It's not the cheapest, but their customer service has been top-notch, which to me is worth a little extra.

For platinum, I'm a bit newer to that, but the fees for my small platinum holding through are about 0.25% of the total value annually, which honestly feels a bit steep on its own. Good luck getting some solid comparisons!

maria_campbell📊Growing (50-100k)✓ Verified•about 2 months ago

Honestly, the fees are a necessary evil, but they *have* to be competitive. I'm with Augusta Precious Metals for my Gold IRA here in Boise, and I'm paying a flat $200 for both storage and custodian fees annually. That's for about $70k in metals. Anything over that for a similar portfolio size and I'd be looking for alternatives. Are you seeing much variation for Platinum specifically?

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