Custodian fees for my Platinum IRA - what am I missing?

Joseph Harris

Back to forum

🔲 Platinum IRA

Custodian fees for my Platinum IRA - what am I missing?

joseph_harris📊Growing (50-100k)

about 2 months ago

Key Takeaways

•I finally got my Platinum IRA set up a few months ago, after agonizing over it for what felt like forever.
•Went with a mix of Platinum Eagles and some bars.
•You know, with all the touring schedules unpredictable and streaming royalties being… well, streaming royalties.

Compare top Gold IRA companies — free

I finally got my Platinum IRA set up a few months ago, after agonizing over it for what felt like forever. Went with a mix of Platinum Eagles and some bars. My advisor at First American seemed to think it was a solid move, and I'm feeling pretty good about diversifying things away from the usual market chaos right now. You know, with all the touring schedules unpredictable and streaming royalties being… well, streaming royalties. Gotta protect that nest egg!

My portfolio is sitting just under $70k right now, and I’m based out of Nashville. The fees for the custodian are bugging me a bit though. I feel like I did my homework, but now that I’m actually seeing the charges, it just seems a little steep. I’m paying a flat annual fee, which is around $250. Is that pretty standard for a Platinum IRA of my size? I’ve seen some companies advertise percentages, and others flat fees, and it’s hard to compare apples to apples.

What are you guys paying for your Platinum IRA custodians? Especially those of you with portfolios in the $50k-$100k range. Are there hidden fees I should explicitly ask about? Storage fees are separate for me, which seems reasonable given the security required. I used that Eligibility Checker tool before I even started to make sure I definitely qualified, and that was super helpful, but it didn't really touch on fee comparison. Wish I'd found a similar tool for that!

Any insights from you seasoned precious metals investors would be hugely appreciated. Is it worth trying to negotiate with my current custodian, or should I start looking into transferring to another one? The thought of moving it all again is a headache, but if I can save a significant chunk over the long run, I’m willing to do the legwork.

213

5 comments

The biggest mistake retirees make with their 401(k)

Most people don't diversify until after a crash. Get the free guide and protect your nest egg.

Under $100k? Compare options →

784 people viewed this today104 members requested a free kit this week156 investors bookmarked this

Best Answer▲ 9 upvotes

sharon_evans💰Established (100-250k)

Dude, I just went through something similar! Got my Gold IRA rockin' with Augusta Precious Metals and then BAM, custodian fees show up. Totally felt like I'd understood everything and then there was this extra layer. It's wild how those details can slip through the cracks even when you think you've done your homework.

Comments (5)

sharon_evans💰Established (100-250k)Real Investor•about 2 months ago

nancy_hall💰Established (100-250k)Real Investor•about 2 months ago

Hey, congrats on getting your Platinum IRA set up! That's a big step. Quick question on the "Platinum Eagles" you mentioned – are those the American Platinum Eagle coins? Just curious if there's another type of platinum coin I should be aware of for an IRA. Thanks!

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

Hmm, I actually kinda prefer the gold Eagles myself, even for platinum. The lower premiums on the bars are temping, but the Eagles just feel more liquid if you ever need to sell a smaller portion down the line. Plus, there's always that tiny chance of numismatic value increasing over time, even though that's not the primary goal of an IRA.

michael_anderson🏆Advanced (250-500k)Real Investor•about 2 months ago

Hey, glad you finally got your Platinum IRA set up! That's a big step. When it comes to fees, sometimes it feels like they're designed to be opaque. It might be worth checking if your custodian offers any volume discounts or if there are different fee tiers based on the total value of your holdings. I've seen some custodians have slightly lower percentages for larger accounts, which could make a difference over time. Good luck!

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

Yeah, custodian fees can definitely sneak up on you. I had a similar experience with my Gold IRA. Thought I had everything squared away, then got my first quarterly statement and was like, "Wait, what's this charge?"

Turns out, similar to your Platinum IRA, there were separate storage fees on top of the admin fees. It's not always super clear when you're signing up for the account, which is a bit annoying. Good luck getting it sorted!

Considering a Gold IRA for your retirement?

Get a free info kit from a top-rated company — trusted by thousands of investors.

Under $100k? Compare options →