Gold IRA storage fees - what's a reasonable rate?

Sharon Evans

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Gold IRA storage fees - what's a reasonable rate?

sharon_evans💰Established (100-250k)

about 2 months ago

Key Takeaways

•Originally started with a smaller direct purchase, but then decided to roll over about $150k from an old 401k into a Gold IRA about 18 months ago.
•Really happy with the move, especially with some of the market craziness lately.
•My question is about storage fees.

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Okay, so I've been dipping my toes into precious metals for a few years now, mostly learned from overhearing the execs at work (I'm a secretary for one of the big oil companies here in Tulsa). Originally started with a smaller direct purchase, but then decided to roll over about $150k from an old 401k into a Gold IRA about 18 months ago. Really happy with the move, especially with some of the market craziness lately.

My question is about storage fees. My current custodian charges a flat annual fee, which was totally fine when my account was at ~$120k, but with the growth I've seen, I'm wondering if a percentage-based fee would actually be cheaper now. I’m currently paying about $200 a year, and from what I understand, some places charge around 0.10%-0.15% of the total asset value. If I'm doing the math right, at 0.15% on, say, $180k, that would be $270. So maybe my flat fee isn't so bad?

But then again, what happens if gold really takes off and my IRA hits, like, $250k? That 0.15% would be $375. And if it's still just a flat $200, that sounds like a much better deal. I keep looking at the numbers and getting a little confused. Is there a general sweet spot where one type of fee typically makes more sense than the other?

Anyone else in a similar boat, or have strong feelings about flat vs. percentage storage fees for their precious metals IRA? What are you guys paying relative to your account size? Just trying to make sure I'm not leaving money on the table here, especially since I'm planning on holding this for the long haul.

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5 comments

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Best Answer▲ 8 upvotes

christopher_young🌟Ultra (5m+)

Hey, that's a decent chunk to roll over! Curious, what made you decide on a Gold IRA over just holding the physical gold yourself, given you already dabbled in direct purchases?

Comments (5)

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

Totally get this! I actually had a similar experience when I rolled over an old 401k. The fees for storage were one of those things I barely even thought about until I saw the first statement. Ended up switching providers because the first one was way higher than I was comfortable with for the amount I had in there. Pretty sure I was getting fleeced, lol.

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•about 2 months ago

Hey, that's a decent chunk to roll over! Curious, what made you decide on a Gold IRA over just holding the physical gold yourself, given you already dabbled in direct purchases?

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

Honestly, "reasonable" is such a moving target with these things, especially depending on *where* you're storing it. I've seen some places charge what feels like highway robbery, while others seem almost too good to be true. My take is, if it feels even slightly off, it probably is. Don't be afraid to keep shopping around and get a few quotes. There are definitely reputable options out there that won't bleed you dry.

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

Hey there! Sounds like you're making some smart moves with your retirement savings. For storage fees, it really varies, but a good tip is to look into segregated storage if your holdings are substantial. It usually costs a bit more, but your gold is kept separately from others, which offers an extra layer of security and peace of mind. Here's a decent article that breaks down the different types of storage and their typical costs: Investopedia - How to Store Your Gold and Silver. Hope this helps you find the best option for your situation!

brian_edwards🌟Ultra (5m+)Real Investor✓ Verified•about 2 months ago

Totally agree with what you're saying about storage fees. It's tough to nail down what's "reasonable" because it varies so much. I've got a decent chunk in a Gold IRA too, about $180k, and I'm currently paying around $200 a year for segregated storage. It feels a little high, but for the peace of mind knowing it's not commingled, I’ve accepted it for now.

I've seen some places offer lower for non-segregated, but that makes me a bit nervous. It's definitely one of those things where you have to weigh the cost against your comfort level.

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