Discover the Details of Your Gold IRA Fees

• Gold IRAs allow individual investors to hold gold and other precious metals in their retirement accounts.
• Gold IRAs can hold physical gold or gold assets in paper form.
• As can either be self-directed or self-directed with professional management.
• Investors must be 59.5 years old or older to open an IRA.
• Since a Gold IRA is invested in precious metals, investors should consider the volatility of precious metals as well as the impact of inflation.

Gold IRAs are a popular vehicle for investors to store a portion of their retirement money in a precious metal. They can hold gold, silver, or other precious metals, and the fund can be held in a physical or paper form.
To open a Gold IRA, investors must be 59.5 years old or older, but younger investors can open a gold IRA with a custodian. Investors need to decide which type of account will open, whether it's a traditional IRA, a Roth IRA, or a self directed IRA.

Why Gold an IRA?

Investing in gold IRAs is a simple way to diversify your retirement portfolio, since the gold market tends to remain stable even during times of extreme volatility.
If you are 70 1⁄2 or older, you can contribute up to $100,000 to your IRA, both Traditional and Roth.

What Fees Do You Pay?

Gold IRA Fees

Like any other investment, a Gold IRA comes with fees. These fees may include, but are not limited to:
Administrative fees: Administrative fees are charged by the administrator for handling your business account.

Storage fees: If you have gold bars or coins in your Gold IRA, you'll be charged a fee to store them, usually on a monthly basis.

Management fees: Some Gold IRA custodians may charge additional fees for the management of your account.

Rollover fees: If you have an existing IRA, you may be charged a fee for transferring assets to your new Gold IRA.

Transfer fees: When you transfer assets from your current IRA to your Gold IRA, you may be charged a fee.

Cash fees: Some Gold IRA custodians may charge a fee when you withdraw cash from your account.

Gold IRA Fees Breakdown

Cost Per Purchase
The dollar amount you pay when you buy or sell gold.

Annual Storage Fee
The annual storage fee you pay to keep gold stored with the custodian.

Annual Administrative Fee
The annual administrative fee you pay the custodian to handle customer service and other administrative duties.

Annual Custodial Fee
The annual custodial fee you pay the custodian to hold your gold.

Annual Transfer Fee
The annual transfer fee you pay to move gold from one custodian to another.

Account Opening Fee
The fee you pay the custodian to open your account.

Annual Custody Fees

A gold IRA account does not charge an annual storage or maintenance fee. The custodian may charge a small fee to transfer cash from your bank to your gold IRA, but in general, these fees are minimal.

Annual Administrative Fees
When you enroll a gold IRA, you typically pay a one-time fee of about $100 to $150 for administrative costs. This fee covers the cost of opening the account, and it covers the cost of transferring your IRA assets from your old custodian to your new custodian. This cost is a onetime fee, so as long as you are not moving your gold IRA, you should pay it only once upon opening the account.

Other Fees
In addition to paying an annual administrative fee, gold IRA owners pay other fees, such as fees for transferring gold to a depository or for withdrawing gold from their account. These fees are typically very small, and are usually only incurred when you need to make a large withdrawal.

Paperwork Fees

Paperwork expenses are the charges for the setup of your IRA. The paperwork expenses include:
Administrative Fees

For the paperwork and paperwork-related services, you will pay a custodian fee to set up the account.

Additional Fees

In the case of additional paperwork expenses, the custodian may charge you a setup fee.

Annual Account Maintenance Fees

Many custodians charge a set annual fee for the maintenance of the account.

Storage Fees

Storage fees cover the cost of holding your gold. These fees depend on the type of storage that the custodian offers.

Delivery Fees

Delivery fees depend on your custodian's delivery method and whether the custodian offers storage.

Transfer Fees

If your custodian offers the option of transferring your gold, it will charge you either a transfer or transfer fee.

Other Fees

Your custodian may not charge any fees directly. However, other fees, such as those associated with third-party services, may be charged separately.

Gold Market Charges

When you open up a Gold IRA or other precious metal investment account, you will incur fees. These charges may include:
Sales Charges: You will pay a sales charge to cover commissions and other fees associated with purchasing your gold. A sales charge is not synonymous with a commission; it is a fee that covers the costs of providing your account management services.

Storage Fees: Storage fees typically cover the cost of storing your gold in a safe location.

Transfer Fees: These fees cover the cost of moving your gold from one storage facility to another.

Withdrawal Fees: If you withdraw funds from your gold account, you will be charged a fee.

Closing Fees: If you are closing your precious metal investment account, you may encounter a fee.

Precious Metals Transaction Fees

As a new owner of gold, silver, or other precious metals, you have to pay your precious metals dealer for the precious metals that you purchase. These fees can be small-for example, a $1.50 to $2.00 fee for each coin-or rather large, depending on the amount and type of precious metals you purchase.
The fees can include any number of fees, including:
Delivery fee-The fee charged by your precious metals dealer to ship the metals.

Premiums-The difference between the spot price of the metal and the price at which you purchase it.

Storage fees-When you own actual precious metals, you have to store them in a safe place. This location is called a storage facility, where you have to pay fees to store your metals.

Storage Fees

Gold IRA companies typically charge storage fees for gold in their vaults. These fees can be a flat-fee per month, or a fee based on the total weight of your gold.
Annual Administrative Fees
Gold IRA companies typically charge an annual administration fee of between $100 and $400.

Annual Account Fees
Companies commonly charge an annual account fee between $50 and $125.

Fees for Transferring Assets from Other Accounts
Some gold IRA companies charge fees for transferring assets from other accounts.

Shipping Fees

Because gold is heavy, any gold IRA account requires shipping the gold to you. Shipping fees can vary based on service levels, shipping distance, and the size of the shipment.
Storage Fees
Gold IRA accounts also require storage fees. Most IRA accounts are insured by a combination of IRA custodian and insurance company. Therefore, the storage fees are usually low, but it depends on the custodian.
Transfer Fees
Transferring a Gold IRA account from one custodian to another can cost you money. Transfer fees can vary, depending on the IRA custodian, the number of transactions, and the type of account. For example, a couple may be charged a transfer fee of $50 per account, while a couple with multiple accounts will be charged a fee of $100 per account.

IRA Rollover Fees

There typically is a fee to transfer funds from your current IRA to a Gold IRA. The fee can be between $50 and $250, depending on the services you use.
Storage Fees
The storage fee covers the cost of safekeeping your precious metals, and varies depending on how much you have stored. You can expect to pay about 0.5 to 2% of the value of your precious metal holdings per month.
Annual Administrative Fees
Your Gold IRA provider may charge an annual administrative fee of about $100 to $200.

Every Gold IRA provider is different, so check the details on fees before opening your Gold IRA.