Platinum IRA storage fees - what's everyone paying?

Barbara White

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🔲 Platinum IRA

Platinum IRA storage fees - what's everyone paying?

barbara_white🏆Advanced (250-500k)

about 10 hours ago

Key Takeaways

•Okay, so I've been feeling a bit antsy about the storage fees for my Platinum IRA lately.
•Got about $350k tucked away in platinum and it just feels like the fees, while not astronomical, are starting to nibble a bit more than I'd like.
•Been with the same custodian since I rolled over a chunk of my 401k when I left my bank manager job three years ago.

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Okay, so I've been feeling a bit antsy about the storage fees for my Platinum IRA lately. Got about $350k tucked away in platinum and it just feels like the fees, while not astronomical, are starting to nibble a bit more than I'd like. Been with the same custodian since I rolled over a chunk of my 401k when I left my bank manager job three years ago. Back then, the flat fee felt totally reasonable, but now I'm starting to wonder if I'm leaving money on the table.

I'm a big advocate for metal diversification, especially with the volatility we've seen. Platinum's been a solid performer for me, which is why I like having it as a significant hedge. But I'm in Portland, and it's not like I can just walk down the street and switch vaults. The security aspect is paramount, obviously, and I'd never compromise that. But there's gotta be a sweet spot, right?

For those of you with significant holdings in a Platinum IRA, what kind of storage fees are you seeing? Is it a percentage of the asset value, or a flat fee? Are you noticing any tiered pricing for higher values? And has anyone successfully negotiated better rates with their custodian, especially for larger portfolios? Thinking about shopping around, but honestly, the thought of moving that much metal is a bit daunting.

Just trying to get a feel for what's out there. Any insights, positive or negative experiences, would be super helpful. Trying to make sure I'm being as efficient as possible with these assets.

3 comments

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Best Answer▲ 8 upvotes

janet_cook📊Growing (50-100k)

Hey, totally feel you on the 'nibbling' fees. It's crazy how they can add up. Quick question though, you mentioned "rolled over a chunk of my 4". Were you talking about a 401k or something else? Just curious if that affects the fee structure at all for you.

Comments (3)

christopher_young🌟Ultra (5m+)Real Investor✓ Verified•less than a minute ago

Dude, I hear you! I had a similar feeling a while back with my gold IRA. It wasn't platinum, but the annual storage fees just felt like a constant drip, especially when the market was a bit flat. Made me question if I was getting the best deal. Ended up shopping custodians and found a slight improvement, but it's definitely something to keep an eye on.

janet_cook📊Growing (50-100k)•less than a minute ago

catherine_bell🏆Advanced (250-500k)Real Investor•less than a minute ago

Honestly, $350k in platinum and you're worried about nibbling fees? I'd be more concerned about the liquidity and spread when you eventually go to sell that much platinum. The storage fee might be the least of your worries when you factor in the buy/sell difference on a large chunk of physical metal, especially platinum which can be a bit more niche than gold or silver. Just something to consider.

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