Gold IRA Fees: Custodian, Storage, and Setup Costs Explained

Gold IRAs cost more to operate than a standard brokerage IRA, and the fee structure is more complex. Understanding what you will pay—and how fees compound over time—is essential to evaluating whether a gold IRA makes financial sense for your situation and which custodian offers the best value for your account size.

This guide walks through every fee category you may encounter, explains what drives the cost differences between providers, and shows how to calculate the true annual cost of ownership before you commit.

Why Gold IRAs Cost More Than Standard IRAs

A standard IRA holding stocks, ETFs, or mutual funds has minimal ongoing costs—often just an annual account fee or the expense ratios embedded in the funds. A gold IRA has additional layers of cost because physical metals require:

• A specialized custodian with IRS approval for non-standard assets
• Physical storage at a regulated depository with insurance coverage
• A metals dealer to source and sell IRS-approved bullion at a markup above spot
• Ongoing record-keeping of physical asset holdings for IRS reporting purposes

None of these are unreasonable costs given the services provided, but they add up. Knowing the full picture in advance prevents surprises.

Account Setup Fee

Most gold IRA custodians charge a one-time fee to open your account. This covers identity verification, account documentation, and administrative setup. Typical range: $0–$250. Some custodians waive this fee for accounts above a minimum balance threshold or as a promotional offer—but confirm there are no higher fees elsewhere that offset the waived setup cost.

Annual Custodian (Administration) Fee

The IRA custodian charges an ongoing annual fee for account maintenance, record-keeping, IRS reporting (Forms 5498 and 1099-R), and customer service. This fee goes to the regulated trustee holding your IRA, not to the metals company.

Typical range: $75–$300 per year, though some premium custodians charge more. The fee may be flat regardless of account size, or it may be tiered based on account value. For smaller accounts, a flat fee is generally better; for very large accounts, a flat fee is almost always preferable to a percentage-based structure.

Storage Fees

Physical precious metals must be stored at an IRS-approved depository. The depository charges for this service, and its fee is typically passed through to you by the custodian or metals company. Storage fees are charged in one of two ways:

Flat Annual Storage Fee

A fixed dollar amount per year regardless of how much metal you hold. Typical range: $100–$300/year for a segregated storage arrangement, somewhat less for commingled. This structure strongly favors large accounts, since the cost as a percentage of assets drops as your balance grows.

Percentage-Based Storage Fee

An annual fee calculated as a percentage of the value of metals stored. Typical range: 0.5%–1.0% of asset value. On a $50,000 account, a 0.5% fee is $250/year. On a $200,000 account, it is $1,000/year. As gold prices appreciate and your account grows, so does your storage cost in dollar terms. For large or long-held accounts, flat fees are almost always the better deal.

Segregated vs. Commingled Storage Costs

Segregated storage—where your specific coins and bars are stored in a separately identified vault space—costs more than commingled storage, where your metals are pooled with others and your ownership is tracked by weight and type on the depository's ledger. The price difference is typically $50–$100/year. Whether the additional cost is worth it depends on personal preference; both arrangements are IRS-compliant and insured.

Metals Dealer Spread

The spread is not listed as a "fee" on any schedule, but it is a real cost and often the largest single cost of initiating a gold IRA position. When you direct your custodian to purchase metals, a dealer sells those metals to your account at a price above the current spot price of the metal. The difference is the dealer's margin.

For standard bullion products like American Gold Eagles or one-ounce gold bars, a reasonable spread is 3%–8% above spot. Numismatic or collector coins can carry spreads of 20%–40% or more—one reason why reputable advisors recommend sticking with standard bullion for IRA purposes.

Always ask: "What will I pay per ounce, and what is today's spot price?" The difference, expressed as a percentage, is your spread. Compare this across providers before deciding where to open an account.

Transaction Fees

Some custodians charge a per-transaction fee each time you buy or sell metals within the IRA. These range from $0–$50 per transaction. If you plan to accumulate metals regularly (for example, contributing annually and purchasing metals each year), transaction fees add up. If you make a one-time rollover purchase and hold for the long term, transaction fees matter less.

Wire Transfer Fees

Moving cash in or out of your IRA—whether for a rollover or to fund a metals purchase—may involve a wire transfer fee. These are typically $25–$50 per wire. For rollovers, this fee is usually paid once. For ongoing contributions, it is paid annually.

Termination / Closeout Fee

When you close your gold IRA—whether by transferring to another custodian, liquidating to cash, or taking an in-kind distribution of metals—some custodians charge a termination fee. Typical range: $0–$250. Others charge nothing. This fee should be disclosed upfront in the fee schedule. It is worth asking about even if not obvious in the initial materials.

How to Calculate Total Annual Cost of Ownership

To compare custodians on a true apples-to-apples basis, calculate the total annual cost as a percentage of your account value. Here is a simple example for a $50,000 gold IRA:

At $50,000, the difference is modest. At $200,000, a flat-fee structure often saves $500–$1,500 per year compared to a percentage-based structure. Over a 20-year horizon, that gap is substantial in compounded terms.

One-Time vs. Ongoing Costs

Keep in mind that the dealer spread is a one-time cost incurred when you purchase metals. Custodian and storage fees are ongoing, paid every year. When evaluating the economics of a gold IRA, weight ongoing costs more heavily than one-time costs, since they continue for the life of the account.

Fee Negotiation and Promotional Offers

Some gold IRA companies offer to waive setup fees, cover first-year storage costs, or provide other promotional incentives for new accounts above a minimum balance. These can be genuine value—but always verify that the underlying fee structure going forward is competitive, not just the promotional first year. A company that waives year-one fees but charges percentage-based storage at 1.0% from year two onward may cost you more over the long term than a company with a modest setup fee and a flat storage structure thereafter.