Custodian fees - How much is too much?

Brian Edwards

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Custodian fees - How much is too much?

brian_edwards🌟Ultra (5m+)

about 2 months ago

Key Takeaways

•From what I’ve heard, their storage fees are pretty standard, but I’ve seen such a range in admin fees across different companies.
•All in, it's roughly $950.
•I know some custodians charge flat fees, others go by a tiered percentage.

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Okay, so I’ve been holding a significant chunk of my portfolio in physical gold and silver through a Gold IRA for the last seven years, and I’m starting to wonder if I’m giving away too much in custodian fees. I'm sitting on just over $4.2M in various precious metals within the IRA – mostly American Gold Eagles and some Royal Canadian Mint stuff, all held at Delaware Depository. From what I’ve heard, their storage fees are pretty standard, but I’ve seen such a range in admin fees across different companies. Currently, I'm paying around $250 annually for admin fees and a percentage-based storage fee that comes out to about $700 a year for my specific holdings. All in, it's roughly $950.

I know some custodians charge flat fees, others go by a tiered percentage. For someone with a portfolio of this size, which model usually ends up being more cost-effective? I'm based in Aspen, and frankly, my time is more valuable than trying to save fifty bucks, but I also don't want to be outright ripped off. I'm a real estate developer, so I'm used to negotiating and finding the best value, but this Gold IRA world feels a bit opaque sometimes.

Are there any custodians out there that offer significantly better rates for larger portfolios, say anything over $2-3M? I've been with my current custodian pretty much since I started this IRA, and while they've been perfectly fine, I feel like it's a good time to reassess. What are your annual fees looking like, especially if you have a similarly sized portfolio? Any horror stories or rave reviews from specific companies to share? Trying to see if my $950/year is reasonable or if I should be shopping around more aggressively.

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3 comments

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Best Answer▲ 5 upvotes

patricia_miller📊Growing (50-100k)

Whoa, $4.2M! That's a serious stash. I totally get your concern about the fees. I had a similar "aha!" moment a few years back with a different type of investment, not gold, but the fees just slowly crept up and started feeling excessive. I ended up calling around and found a much better deal with a different provider that had more transparent fee structures. Definitely worth doing some comparison shopping, even if it feels like a chore.

Comments (3)

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

elizabeth_johnson💰Established (100-250k)Real Investor✓ Verified•about 2 months ago

Seven years is a good run. I'm curious, what kind of performance have you seen with that $4.2M in PMs over those past seven years? Are we talking about a decent appreciation despite the fees?

betty_king📊Growing (50-100k)•about 2 months ago

I hear you on the custodian fees, they can definitely add up over time. But with $4.2M, you're in a completely different league than most people considering a Gold IRA. At that level, the security and proper storage from a reputable custodian actually starts to feel like a bargain, IMO. Think about the insurance alone, let alone the logistical nightmare of self-storing that kind of value. It's less about the percentage now and more about the absolute value of what you're protecting.

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