Rolling over a 401k to a Gold IRA - what to look out for as a newbie?

• •I'm seriously considering rolling over a significant portion of my old 401(k) – probably somewhere between $150k-$200k – into a Gold IRA.
• •I'm in Richmond, VA, for context, if that makes any difference regionally with custodians or dealers.
• •The idea of having a tangible asset, especially for a portion of my retirement, just feels right.

I'm seriously considering rolling over a significant portion of my old 401(k) – probably somewhere between $150k-$200k – into a Gold IRA. I've been doing a ton of research, as you might expect from a university professor (even if it's in literature, the research bug is strong!), but the sheer volume of information out there is a bit overwhelming. I'm in Richmond, VA, for context, if that makes any difference regionally with custodians or dealers.

My current 401(k) is just sitting in a traditional fund, and with all the economic uncertainty, I'm feeling a strong pull towards diversifying with physical gold. The idea of having a tangible asset, especially for a portion of my retirement, just feels right. I'm not looking to put all my eggs in one basket, but I also don't want to make some obvious beginner mistake that I'll look back on and kick myself for later.

So, for those of you who've been through this process, especially rolling over a chunk of change: what are the absolute biggest pitfalls or mistakes to avoid when setting up a Gold IRA? I'm talking anything from choosing the wrong custodian, getting pressured into high-premium "collectible" coins, not understanding fees, or even tax implications I might be overlooking during the rollover itself. I'm a diligent researcher, but sometimes firsthand experience trumps a dozen articles.

Any anecdotes or specific things you wish you had known beforehand would be incredibly helpful. I'm trying to be as strategic as possible here, given this is a decent chunk of my retirement savings. Thanks in advance for any insights!