Custodian recs for Gold Coins - anyone in the RI area?

Janet Cook

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Custodian recs for Gold Coins - anyone in the RI area?

janet_cook📊Growing (50-100k)

about 1 month ago

Key Takeaways

•Okay, so I've been kicking around the idea of a Gold IRA for a bit now, maybe for the last 6 months or so.
•I'm feeling pretty good about the "what" and "why" of investing in physical gold, especially with the crazy stuff happening globally.
•What's tripping me up a bit is the "who" when it comes to custodians.

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Okay, so I've been kicking around the idea of a Gold IRA for a bit now, maybe for the last 6 months or so. I run a jewelry store here in Providence, so I'm already in and out of the metals market daily, mostly dealing in 10k/14k/18k and scrap, but I definitely know my way around gold coins. I've got a decent chunk of change I'm looking to roll over from some old 401k accounts – probably in the high five figures, maybe 75-80k to start with, focusing on US Gold Eagles and maybe some Krugerrands.

I'm feeling pretty good about the "what" and "why" of investing in physical gold, especially with the crazy stuff happening globally. What's tripping me up a bit is the "who" when it comes to custodians. I've heard some horror stories about hidden fees, terrible customer service, and just general headaches when it comes to self-directed IRAs. My biggest fear is getting stuck with a custodian that makes accessing my own assets a nightmare down the line, or getting nickel-and-dimed to death.

Anyone out there have experiences, good or bad, with specific Gold IRA custodians? I'm particularly interested in hearing about those who are great with gold coins. Are there any local options in New England, or even better, Rhode Island, that folks have used and liked? Or is it pretty much all online and nationwide? I'm looking for reliability and transparency above all else. Any specific questions I should be asking potential custodians that maybe aren't obvious?

I feel like I've done my homework on the gold itself, but the custodian part feels like navigating a minefield. Really appreciate any insights or recommendations you all might have!

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5 comments

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Best Answer▲ 9 upvotes

donna_rogers🏆Advanced (250-500k)

Hey, that's awesome you're looking into a Gold IRA, especially with your background in the jewelry market! Knowing your way around coins already puts you ahead of the game.

Since you're specifically looking for custodian recommendations and are familiar with physical gold, you might find this article helpful when evaluating: Investopedia's Best Gold IRA Companies. It breaks down some of the top players and what they offer, which could give you a good starting point even if they're not physically in RI. Good luck!

Comments (5)

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•about 1 month ago

Hey, I hear you on the custodian hunt! I had a similar situation when I opened my Gold IRA last year. I'm not in RI, but I found that talking to other jewelers in my network (even those in different states) was surprisingly helpful. They pointed me towards a few reputable custodians they'd heard good things about through their own precious metals dealings. Might be worth tapping into your local jewelry community a bit more, even outside of direct IRA advice. Good luck!

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

Hey, that's awesome you're already so familiar with the metals market! Makes a lot of sense you'd be looking into a Gold IRA.

You mentioned knowing your way around gold coins – are you thinking of specific types of coins for your IRA, or are you pretty open to whatever meets the IRS fineness requirements?

ruth_perez📊Growing (50-100k)•about 1 month ago

Hey, just wanted to throw in a slightly different take here for you. While having a custodian that's physically close might feel convenient, especially with your jewelry store background, in reality, for a Gold IRA, the actual location of the custodian rarely matters beyond their main office. Most of the interaction is going to be online or over the phone anyway. You'll likely be dealing with a depository for the physical storage, which is a third party entirely. So don't limit yourself to RI just for that reason!

donna_rogers🏆Advanced (250-500k)Real Investor•about 1 month ago

Hey, that's awesome you're looking into a Gold IRA, especially with your background in the jewelry market! Knowing your way around coins already puts you ahead of the game.

steven_mitchell🏆Advanced (250-500k)Real Investor✓ Verified•about 1 month ago

Totally agree with you on the value of a Gold IRA, especially with current market volatility. Been looking into it myself for a while now.

I'm up in MA, but I've had good experiences with [Custodian Name] for my silver holdings. Their fees seemed pretty reasonable when I was comparing, and their customer service was on point. Might be worth checking out if you're not finding a local RI option that clicks.

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