Storage fees for my silver coins in a Gold IRA - what's normal?

Michael Anderson

Back to forum

🥈 Silver Coins

Storage fees for my silver coins in a Gold IRA - what's normal?

michael_anderson🏆Advanced (250-500k)

about 6 hours ago

Key Takeaways

•I run a construction company here in Chicago, so I just *get* tangible assets.
•You can see it, you can hold it, you know?
•My portfolio’s sitting somewhere in the 300k range, and probably a good 50k of that is in silver now.

Compare top Gold IRA companies — free

Alright, so I’ve been building up my Gold IRA for a solid few years now – mostly gold, but I picked up a decent chunk of silver coins too, figuring it was a good way to diversify within the precious metals. I run a construction company here in Chicago, so I just get tangible assets. You can see it, you can hold it, you know? My portfolio’s sitting somewhere in the 300k range, and probably a good 50k of that is in silver now. Recently got the statement from my custodian and I'm staring at these storage fees for the silver and starting to wonder if I'm getting a fair shake, or if I need to shop around.

My custodian charges a flat annual fee for coins, regardless of value, but silver takes up way more space than gold for the same dollar amount, obviously. It feels like I'm paying a premium because of the bulk, even though it's still a precious metal. It's not breaking the bank, but every buck counts, especially with how tight margins are getting on some of these projects lately. Am I overthinking this? What are other folks in the Gold IRA game paying for their silver coin storage? Is it typically higher than gold because of the volume?

I mean, I'm happy with the performance of the metals, generally. Definitely sleep better knowing I've got a pile of something real put away, rather than just numbers on a screen. But these fees just gnaw at me a little. I used that Gold IRA Calculator the other day to project out some potential returns if I keep adding to it, and those fees, while small individually, can definitely add up over a couple of decades. Anyone have any insights or tips on negotiating these things, or should I just accept it as the cost of doing business with silver?

4 comments

The biggest mistake retirees make with their 401(k)

Most people don't diversify until after a crash. Get the free guide and protect your nest egg.

Under $100k? Compare options →

57 people viewed this today6 members requested a free kit this week9 investors bookmarked this

Best Answer▲ 10 upvotes

michael_anderson🏆Advanced (250-500k)

Hey, totally get wanting to diversify and keep an eye on those fees! One thing I've found super helpful is understanding what exactly those storage fees cover. Is it just the space, or does it include insurance, regular audits, and 24/7 security? Sometimes a slightly higher fee can be worth it for that peace of mind.

You might want to check out the IPM’s (International Precious Metals) website – they have some good articles breaking down different types of storage and what to look for. Could give you a better idea of what "normal" should look like for the services you're getting!

Comments (4)

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

Hey, I hear you on the storage fees. I had a similar "aha!" moment when I first saw mine for my silver. I'm also mostly gold in my IRA, but I added some silver eagles back in the day, and for a minute there, I was wondering if I'd made a mistake with the storage costs. They definitely feel a bit more noticeable on silver compared to gold, just because of the value-to-volume ratio. It evens out over time, but that initial sting is real!

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

Hey, cool to hear about the silver diversification! I'm curious, what kind of silver coins are you holding in your Gold IRA? Are they like Eagles, Maples, or something else entirely? Wondering if the type of coin might impact storage fees at all.

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Hey, cool you're diversifying! But honestly, I'm a little confused by the "storage fees for silver coins in a Gold IRA" part. Typically, when people talk about a Gold IRA (or Precious Metals IRA), the metals are held by a custodian in an approved depository, not as loose coins you'd be paying separate storage for yourself. Are you sure you're not talking about something a bit different, like a non-IRA personal holding of silver?