SD IRA vs. Traditional Custodian for Silver Bars - My Experience/Questions
- •Figured I'd throw my two cents in and see what others are doing.
- •I rolled over about $700k from an old 401k into a Gold IRA a few years back.
- •The whole process was a bit of a headache, honestly.
Been seeing a lot of chatter lately on here about self-directed IRAs versus just sticking with a traditional custodian, especially for physical metals. Figured I'd throw my two cents in and see what others are doing.
I rolled over about $700k from an old 401k into a Gold IRA a few years back. The whole process was a bit of a headache, honestly. Went with a traditional outfit in Delaware because that's what my financial advisor pushed. He said it was "safer" and "simpler." Well, simpler for him maybe. Anytime I want to check on my silver bars (I've got a good chunk of 10-ounce bars, some old Sunshine minting, some new APMEX certified), it feels like pulling teeth. They send me statements, sure, but it's all just numbers on a page. I can't physically see or verify anything without jumping through hoops.
My buddy, who's got a similar dairy background to me, went the self-directed route with a custodian in South Dakota. He says it's a bit more paperwork upfront, but he feels way more in control. He actually visited the vault once (pre-COVID, obviously) and said it was a real eye-opener to see physical assets he owns, even though he can't take them home. I'm sitting here in Madison, wondering if I made the wrong call. My current custodian's fees feel a bit high for what I'm getting in terms of transparency.
Is anyone else finding the traditional route to be a bit opaque? For those with self-directed IRAs for silver, what's your experience been with access, fees, and overall peace of mind? Thinking of exploring a transfer, but the thought of another rollover gives me hives.