New to Gold IRAs - what newbie traps should I watch out for?

• •Okay, so I'm relatively new to the gold IRA game, maybe about a year and a half in.
• •Started with about $280k out of my old 401k and rolled it into a self-directed IRA with a good chunk in physical gold.
• •But what are some of the beginner mistakes you guys have seen or even made yourselves in this space?

Okay, so I'm relatively new to the gold IRA game, maybe about a year and a half in. Started with about $280k out of my old 401k and rolled it into a self-directed IRA with a good chunk in physical gold. I'm based here in Salt Lake City, and my financial advisor actually specializes in helping people get set up with precious metals IRAs, so I feel like I've had a decent guide so far. But what are some of the beginner mistakes you guys have seen or even made yourselves in this space?

I know one thing I've been super careful about is making sure I understand the storage fees and the specific IRS-approved coins. My advisor really hammered that home – apparently, some folks get swindled into buying non-IRA eligible gold or storing it in ways that could invalidate their tax benefits. That sounds like a nightmare. Another thing I constantly hear him talk about is not getting emotional with price fluctuations. It's a long-term play, not a day trade, which sometimes is easier said than done when you see the spot price jumping around.

I'm particularly interested in things that might not be immediately obvious. Like, beyond the obvious "don't buy from shady dealers" stuff. Are there any common misconceptions about the types of gold you should hold? Or what about rebalancing strategy? Currently, my gold makes up about 15% of my total portfolio, which he advises is a good diversification point given my age and overall financial goals. What are your experiences? Anything you wish you'd known when you first started?