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    Minimums for Gold IRAs - what did you guys put in?

    Key Takeaways
    • Been seeing a lot of chatter lately on minimums for Gold IRAs, especially around the physical gold part.
    • I ended up converting about $300k from a mix of old 401ks and a traditional IRA into a self-directed Gold IRA.
    • I mostly went with 1 oz Gold American Eagles and some 10 oz gold bars, the latter definitely helping me hit a higher dollar amount faster.
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    Been seeing a lot of chatter lately on minimums for Gold IRAs, especially around the physical gold part. When I started digging into this for my own retirement accounts a few years back (around 2020/2021), it felt like there was a pretty wide range among the different custodians and dealers. I ended up converting about $300k from a mix of old 401ks and a traditional IRA into a self-directed Gold IRA. My main driver was getting some real diversification outside of just stocks and bonds – being in manufacturing here in Cleveland, I just prefer having tangible assets, something you can actually hold (even if it's in a vault most of the time).

    My custodian had a stated minimum for setting up the account, but then obviously the actual gold purchases themselves have their own minimums based on the bars or coins you're buying. I mostly went with 1 oz Gold American Eagles and some 10 oz gold bars, the latter definitely helping me hit a higher dollar amount faster. What I'm curious about is what others have experienced. Did you run into hard minimums from your custodian for setting up a new account, or was it more about the minimum purchase requirement for the actual precious metals?

    And on that note, for those of you who decided to go with silver bars as well – what kind of minimums did you see there? I'm debating adding some silver bars to my portfolio eventually, maybe allocating another $50k or so if the market dips. I mostly stuck with gold for the initial setup due to the higher value density and wanting to hit a specific percentage of my total retirement assets. But thinking about diversifying within the precious metals too. Any specific custodians or dealers you found particularly accommodating for smaller (or larger) initial precious metals purchases?

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    5 comments

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    Best Answer▲ 9 upvotes
    D
    dorothy_lopez💰Established (100-250k)

    Totally get this! When I was looking into a Gold IRA back in '21, I remember seeing minimums all over the place too. Some companies were like $10k, others were pushing $50k and upward. Ended up going with one that had a lower entry point, mostly to get my feet wet, and I've been happy with it. It's definitely not a one-size-fits-all thing.

    Comments (5)

    9
    dorothy_lopez💰Established (100-250k)Real Investorabout 1 month ago

    Totally get this! When I was looking into a Gold IRA back in '21, I remember seeing minimums all over the place too. Some companies were like $10k, others were pushing $50k and upward. Ended up going with one that had a lower entry point, mostly to get my feet wet, and I've been happy with it. It's definitely not a one-size-fits-all thing.

    9
    catherine_bell🏆Advanced (250-500k)Real Investorabout 1 month ago

    Hey, interesting post! When you say "physical gold part," are you talking about the actual minimum weight/amount of gold you had to buy, or more about the minimum dollar amount required to even open the account?

    8
    joyce_cooper📊Growing (50-100k)✓ Verifiedabout 1 month ago

    Honestly, I hear you on the range of minimums, but I'm not sure "wide range" is always the best way to think about it. I found that a lot of the higher minimums actually came with better benefits or more established custodians. Sometimes paying a bit more upfront saves you headaches (and potentially money) down the line with fees or less reliable service. Just something to consider!

    1
    linda_taylor📊Growing (50-100k)✓ Verifiedabout 1 month ago

    Hey, great topic! The minimums can definitely be all over the place, especially with market fluctuations. One thing I found super helpful when looking into this was checking out the specific custodian's annual report or SEC filings if they're a public company. Sometimes they'll break down the average account sizes or minimum investment requirements more clearly there than on their main marketing pages.

    Also, don't forget to factor in any setup or annual maintenance fees into that "minimum" consideration, as those can sometimes effectively raise the bar even if the initial investment is lower. Good luck!

    3
    donna_rogers🏆Advanced (250-500k)Real Investorabout 1 month ago

    Hey, totally agree with you on the wide range of minimums. When I was looking into it back in '22, some places were asking for like $50k+ just to open the account, which felt pretty steep. But I definitely found some decent options closer to the $25k mark which was much more manageable for me. Good to know it's not just me who noticed that!

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