Custodian fees for Silver - what are you all paying?

Robert Thompson

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Custodian fees for Silver - what are you all paying?

robert_thompson💰Established (100-250k)

about 9 hours ago

Key Takeaways

•Hey everyone, just looking for some insights on what sort of custodian fees folks are paying for their Silver IRAs.
•Currently, my gold holdings are around the $200k mark, and the custodian fees are pretty reasonable, I think.
•I pay a flat $180 annually for storage and admin, which covers insurance and all the reporting.

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Hey everyone, just looking for some insights on what sort of custodian fees folks are paying for their Silver IRAs. I’ve had my Gold IRA with a company since not long after the 2008 crisis – that’s when I really became a believer in precious metals after watching my pension take a beating. As a retired teacher here in Phoenix, I’m always keeping an eye on my retirement, and I’ve been thinking about diversifying some more of my portfolio into silver coins.

Currently, my gold holdings are around the $200k mark, and the custodian fees are pretty reasonable, I think. I pay a flat $180 annually for storage and admin, which covers insurance and all the reporting. It’s with Delaware Depository, which I'm comfortable with given its reputation.

I’ve been getting some quotes for opening a separate Silver IRA, maybe starting with $20k-$30k in American Silver Eagles, and some of the fees seem a bit… high? One place quoted me a pretty hefty percentage for amounts under $50k, and another had a flat fee but it was almost double what I pay for my gold. Are there usually significant differences in custodian fees between gold and silver, even for similar storage setups?

What are your experiences? Especially curious if anyone has a mixed metals IRA and if the fees are different for each. Are there any hidden fees I should really watch out for when comparing these companies? Any recommendations for custodians with competitive pricing for silver, or things I should ask specifically when calling around?

5 comments

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Best Answer▲ 9 upvotes

donald_nelson💎Premium (500k-1m)

Hey, interesting post! When you say "custodian fees for Silver," are you specifically talking about the annual maintenance fees from the IRA custodian, or are you also including storage fees for the physical silver itself? Just trying to clarify what kind of numbers I should be comparing!

Comments (5)

maria_campbell📊Growing (50-100k)✓ Verified•about 1 hour ago

Glad you brought this up! I actually just went through something similar but with gold. My old custodian was charging a flat fee that felt a bit steep for the amount of gold I had. Ended up switching to one that does a percentage, and it's worked out better for me. Definitely worth shopping around for silver too, I'd imagine.

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•about 1 hour ago

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

Honestly, I've always found it a bit odd people focus *so much* on the custodian fees for silver. While it's good to be aware, the real concern should be the spread and premiums you're paying on the actual metal itself. A slightly higher custodian fee can easily be overshadowed by a better deal on the silver purchase. Are you really saving if your custodian is cheap but you're overpaying for the physical product?

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•about 1 hour ago

Hey there! Custodian fees can definitely vary, and it's smart to shop around. A helpful tip is to not just look at the annual maintenance fee, but also factor in any storage fees, transaction fees (if you plan on buying/selling within the IRA), and even potential liquidation fees down the line.

For a good breakdown of what to look out for and some common fee structures, check out this guide on Gold IRA fees. While it focuses on gold, the principles are largely the same for silver: https://www.investopedia.com/articles/investing/080616/how-gold-iras-work-fees-and-risks.asp</

susan_clark💰Established (100-250k)Real Investor•about 1 hour ago

Totally agree with the OP, it's good to keep an eye on these fees. I've got both gold and silver in my IRA, and my custodian charges a flat annual fee for storage, regardless of the value or composition (gold vs. silver). It's roughly $150 a year, and that covers insurance too. Definitely glad I locked that in when I did!

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