What a Gold IRA Costs
Gold IRAs carry costs beyond those of a typical retirement account, owing to the physical nature of precious metals. Knowing all costs upfront helps you make sound choices and sidestep surprises. Here is a full breakdown of what you'll pay.
Custodian Costs
Your IRA custodian charges for running the account:
- Setup: $50-$150 (one-time, to open your account)
- Yearly Upkeep: $75-$300 per year (ongoing work)
- Per-Trade: $25-$50 per buy or sale
- Wire Transfer: $25-$30 per incoming/outgoing wire
- Account Closing: $0-$250 if you shut the account
Some custodians bundle these costs; others list each charge. Always ask for a full cost listing before opening an account.
Storage (Depository) Costs
Depositories charge for guarding your physical metals:
- Flat Yearly Cost: $100-$300 no matter the size of your holdings
- Percentage-Based: 0.5-1% of your metal value each year
- Tiered Pricing: A mix of flat cost plus percentage
Storage type also shapes cost:
- Segregated Storage: Your metals in a separate bin (higher cost)
- Commingled Storage: Your metals stored with others of the same type (lower cost)
Dealer Premiums
When you buy metals, you pay spot price plus a premium that covers:
- Minting costs: Striking coins and bars
- Shipping: Freight, handling, insurance to depository
- Dealer margin: Business running costs and profit
Typical premiums by product type:
- Gold bars: 3-5% over spot
- Popular gold coins: 5-8% over spot
- Silver products: Higher share due to lower price per ounce
Less Obvious Costs to Watch For
Stay alert for less obvious charges:
- Puffed-up premiums: Calling regular coins "IRA-grade" at higher prices
- Minimum buy rules: Pushing a larger first purchase
- Idle-account charges: Costs for not trading
- Sell-back costs: Charges when you sell your metals back
- Insurance charges: Sometimes folded into storage costs
Always get the full cost breakdown in writing. If a company won't put its pricing in plain ink, treat that as a warning sign.