Question about storage fees for gold IRA - am I misunderstanding something?

• •Okay, so I've been wrestling with this for a bit and figured this sub would have some good insights.
• •I've got a not-insignificant chunk of my retirement savings in a Gold IRA – currently sitting around $300k.
• •I started getting into precious metals a few years back, largely inspired by some economic history I was researching for a lecture series.

Okay, so I've been wrestling with this for a bit and figured this sub would have some good insights. I've got a not-insignificant chunk of my retirement savings in a Gold IRA – currently sitting around $300k. I started getting into precious metals a few years back, largely inspired by some economic history I was researching for a lecture series. The whole diversification and hedge against inflation aspect really appealed to the research side of my brain. I'm based here in Richmond, VA, and I've been with a reputable custodian for the past four years. Things have been generally smooth, but I'm looking at my recent statement and the storage fees, in particular, are making me scratch my head.

My current custodian charges a flat annual fee for segregated storage, which I specifically requested. Initially, I was fine with this, understanding that actual physical metal takes up space and requires security. However, as the value of my gold has increased (thankfully!), that flat fee (let's say it's $250 annually, just as an example) feels... oddly stagnant. It doesn't seem to scale with the value of the assets, which is great if the value goes up, but also makes me wonder how fixed their costs truly are. I've seen some other custodians advertise fees as a percentage of assets under management (AUM), often in the 0.10%-0.20% range. For my current $300k, that would be $300-$600 annually if it were 0.10%-0.20%.

Here's my dilemma: My current flat fee is quite competitive compared to some of those percentage-based models, especially if my portfolio continues to grow. But it also makes me wonder if I'm missing something fundamental about how these costs are structured. Is my custodian absorbing some risk by keeping the fee flat? Or am I just lucky to have a good deal right now? I'm trying to balance the benefit of a predictable, flat fee versus potentially lower percentage-based fees if my portfolio hits, say, the $500k mark down the line. I'm all about data-driven decisions, but the cost structures across different custodians feel a bit opaque sometimes.

So, for those of you with Gold IRAs, especially those with larger holdings, what's your experience been with storage fees? Do you prefer flat fees or AUM-based percentages? Any custodians you've found particularly transparent or cost-effective for segregated storage? I'm not looking to jump ship immediately, but I want to make sure I'm optimizing for the long haul. Any insights would be hugely appreciated!