A Gold IRA carries three cost layers. The custodian and storage charges. The dealer price gap on each product. The buyback terms when you decide to sell. If any layer is left out of the conversation, you aren’t seeing the full picture.

1. Custodian and storage charges — paid to the custodian and the depository.
2. The dealer price gap — the distance between spot and what you pay.
3. Buyback terms — what you receive when you decide to sell.

Every Gold IRA needs an IRS-approved custodian and an approved depository. They charge yearly sums to administer your account and vault your metals. These are third-party charges — the dealer doesn’t set them, but they should be listed in your written paperwork.

Typical combined custodian and storage charges run $175 to $375 per year, depending on the custodian, the depository, and whether you choose segregated or allocated storage.

The custodian charge covers account work and storage. It does not cover the dealer price gap — which is often the larger number, especially on the first purchase.

The price gap is the distance between the spot price and what you pay for a given product. It’s how every dealer earns its keep. The gap sets how far gold must rise before your holdings break even. A 5% gap means gold must climb 5%. A 30% gap means gold must climb 30%.

Price gaps shift sharply with the type of product:

• Standard bullion bars. 3–8% typical.
• Government-minted coins (Eagles, Maples). 5–12% typical.
• Semi-numismatic or “collector” coins. 15–35% or higher.

The product a dealer steers you toward decides how much they earn — and how long it takes you to break even. When someone says “about 4%,” ask: on which products, exactly? The lowest-gap bar isn’t always what gets placed in the account.

When you sell, you receive the current bid price — which sits below the ask price by the width of the bid-ask gap. There is no separate buyback charge, but the bid-ask gap is a real cost. You should know this number before you buy, not discover it after.

A plain example. You buy a gold coin for $5,423 when spot is $5,165 (roughly a 5% price gap). If you sold it back right away, the buyback price might be roughly $5,165 — the current bid. The $258 distance is the cost of the deal. Gold would need to rise about 5% before you break even on this coin.

“No-cost buyback” means there’s no separate buyback charge. It doesn’t mean you sell back at or near your purchase price. The buyback price always rests on the current market bid.

Your IRA statement shows melt value — the raw metal weight at current spot prices. It doesn’t include the dealer price gap you paid. So the statement will typically show a lower number than your purchase price on day one. This is normal, but you should understand it before you buy, not discover it after.

Ask for all three layers in writing: custodian and storage charges, the dealer price gap on each product, and the buyback terms. You should be able to read the numbers on paper before moving a dollar. For the full rollover mechanics and the rule sheet, the full code is laid out in plain English.