Storage fees for Gold IRA - are mine normal?

Thomas Walker

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Storage fees for Gold IRA - are mine normal?

thomas_walker🏆Advanced (250-500k)

about 10 hours ago

Key Takeaways

•Just trying to get a feel for what others are paying for Gold IRA storage fees.
•I’ve had my account for about 7 years now, since I retired from the Navy.
•Living in San Diego, the cost of living alone makes me scrutinize every fee, and I’m just wondering if I'm getting a fair deal.

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Just trying to get a feel for what others are paying for Gold IRA storage fees. I’ve had my account for about 7 years now, since I retired from the Navy. Living in San Diego, the cost of living alone makes me scrutinize every fee, and I’m just wondering if I'm getting a fair deal. My portfolio is sitting around the $350k mark in physical gold, tucked away in Delaware Depository.

Currently, I’m paying a flat annual fee of $250. It used to be a percentage, which I really didn't like as my gold appreciated, but they switched to a flat fee a few years back which felt like a win at the time. I'm all about financial security – that's why I went with gold in the first place, hedging against inflation and all that. But still, $250 a year for storage… is that competitive? I know some places charge more for segregated storage, but mine's commingled.

What are you all seeing out there? Are most people on a flat fee or still seeing percentage-based charges? Have any of you had success negotiating these fees down, especially with a larger portfolio? I've been using that Gold IRA Calculator at https://calculator.goldirablueprint.com/ to project potential returns over the next few years, and even a small fee reduction could make a noticeable difference in the long run. Every little bit counts, especially when you're living on a fixed income!

5 comments

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Best Answer▲ 9 upvotes

robert_thompson💰Established (100-250k)

Totally agree with you man, those fees can really add up! It's good to be scrutinizing them. I'm paying around 0.15% per year with my custodian for segregated storage on a pretty sizable portfolio. Been with them for about 5 years now. Hopefully that helps give you another data point!

Comments (5)

charles_lewis💎Premium (500k-1m)Real Investor•less than a minute ago

Hey, I hear you on the San Diego cost of living! It's wild out here. I actually had a similar moment a couple of years ago. My fees seemed to be creeping up, and I started wondering if I was just complacent since I'd been with the same company for a while. Ended up doing some digging and found a better deal with another custodian. Definitely worth checking around if you've been with the same one for 7 years.

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

Hey, glad you're looking into this. It's smart to keep an eye on fees, especially with how things are these days. Quick question: are your fees a flat annual rate or a percentage of your holdings? That can make a pretty big difference in how they stack up.

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

Hey, I hear you on scrutinizing every fee, especially in San Diego! But "normal" can be a bit of a moving target with Gold IRA storage. While some companies do charge a flat annual rate regardless of value, which sounds like what you're describing, others definitely go with a tiered percentage based on the precious metals' value.

It might be worth confirming exactly what kind of policy your custodian has. If it's a flat fee and your portfolio has grown significantly over those 7 years, you might actually be getting a better deal than someone on a percentage-based fee with a high-value portfolio. Just something to consider before jumping ship!

joyce_cooper📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, totally get wanting to make sure you're not overpaying, especially with San Diego living costs! It's smart to review those fees periodically.

One thing to keep in mind is that some custodians offer tiered pricing based on the value of your metals, while others have flat annual fees. It might be worth checking if your current custodian has different fee structures you could potentially switch to, or if there are other reputable, IRS-approved depositories that could offer a better rate for your specific holdings. Sometimes a quick call to a few other well-rated companies can give you a good benchmark.