Storage fees for silver coins in a Gold IRA - what are you guys paying?

Steven Mitchell

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Storage fees for silver coins in a Gold IRA - what are you guys paying?

steven_mitchell🏆Advanced (250-500k)

about 5 hours ago

Key Takeaways

•Hey everyone, quick question for you all, especially those of you holding silver coins within your Gold IRAs.
•I'm a manufacturing exec out here in Cleveland and I've always been big on hard assets – gives me peace of mind in this crazy market.
•My total IRA is sitting around the high 300s now, so it's a significant piece of my retirement.

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Hey everyone, quick question for you all, especially those of you holding silver coins within your Gold IRAs. I'm a manufacturing exec out here in Cleveland and I've always been big on hard assets – gives me peace of mind in this crazy market. So, about 8 years ago, when I first rolled over a chunk of my old 401k, I put a solid 100k into a Gold IRA, with a decent portion in silver coins – primarily American Silver Eagles. My total IRA is sitting around the high 300s now, so it's a significant piece of my retirement.

I've been okay with the storage fees up until now, which are a flat annual rate based on the value of the metals. It’s been just under 0.25% for me, which on a good year felt negligible, but with the market being… market-y, I’m starting to scrutinize every expense. I’m with a pretty well-known custodian; they’re reputable, and I haven’t had any issues with their service, but I just want to ensure I’m not overpaying. Is this roughly what others are seeing for fully insured, segregated storage for silver coins?

I know some folks opt for non-segregated storage, which can be cheaper, but with the amount I have in there, I really prefer the peace of mind of segregated. I also remember looking into some options that charged a flat fee regardless of asset value, but those seemed to favor much larger portfolios than mine. For those of you who've been around the block with this, what's been your experience? Any particular custodians known for competitive rates on silver storage without sacrificing security?

I'm constantly trying to stay informed, and honestly, forums like this are a goldmine (pun intended!). If you're new to the Gold IRA game or just curious about how it all works, definitely check out the Gold IRA Quiz. It's a pretty handy tool for getting your head around the different options and what might be right for your situation. But yeah, back to my main question – what are your storage fees looking like for silver coins?

3 comments

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Best Answer▲ 9 upvotes

barbara_white🏆Advanced (250-500k)

Totally get this. I had a similar sticker shock a few years back with some platinum I held. The annual fee seemed reasonable on paper, but after a few years, it felt like it was eating into my gains more than I liked. Ended up consolidating some of it and going with a different depository that had a slightly higher fee but a more transparent structure. Definitely worth shopping around if you haven't recently!

Comments (3)

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

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

Interesting, I'm curious about the Cleveland connection. Are you specifically looking at local depositories there, or are you open to facilities elsewhere in the US that might have better rates? Just wondering if your location is a factor in your search.

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

Interesting to hear about your silver coin experience, especially with the storage fees. While it's great to have peace of mind with hard assets, I've always wondered if the storage costs for physical silver in an IRA, especially for coins, really make sense in the long run compared to something like a silver ETF or even just fractional ownership of larger bars. The liquidity and lower overhead seem appealing for some, even if it's not "in hand."

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