A Gold IRA costs more than a setup fee and an annual fee. You pay the custodian for setup and yearly administration, the depository for storage and insurance, and the seller a premium over the spot price when the metal is bought. When you sell, the buyback price is usually below spot. To compare offers, add every line for the first year and divide by what you put in.
The fees, one by one
These are the charges to ask about. Not every company charges all of them, and some bundle several into one line.
| Fee | Who usually charges it | When |
|---|---|---|
| Account setup | Custodian | Once, at opening |
| Annual administration | Custodian | Every year |
| Storage | Depository, often billed through the custodian | Every year |
| Insurance | Depository, sometimes included in storage | Every year |
| Premium over spot | The seller of the metal | Each purchase |
| Buyback spread | The buyer of the metal | Each sale |
| Wire or check fees | Custodian | When money moves |
| Shipping | Seller or depository | Delivery and distribution |
| Termination or transfer-out | Custodian | When you close or move the account |
Setup and annual custodian fees
The custodian opens the account, keeps records and files IRS forms such as Form 5498. The CFTC and FINRA note that self-directed IRA fees are typically higher than fees on directed IRAs.
Storage: segregated or commingled
Depositories offer two ways to hold IRA metal. Commingled (also called non-segregated) storage keeps your metal with other owners' metal of the same type, and you get back coins or bars of the same kind and amount. Segregated storage keeps your specific items apart and labeled as yours. Ask which one a quote assumes and what each would cost.
Insurance
Ask whether storage includes insurance, who the policy covers, and whether it covers the full value. The CFTC and FINRA warn that some fraudulent dealers have charged storage and insurance fees for metal that never existed, so the custodian's statement should list your holdings by type and weight.
The premium over spot
Coins and bars sell for more than the spot price of gold. The CFTC says bullion typically sells for a premium of about 5 to 10 percent over spot, while collectible (numismatic) coins can carry premiums of 40 to 200 percent above spot. In the worked example below, the premium is the largest cost in year one, and it sits on the purchase invoice instead of the fee schedule.
The buyback spread
The CFTC and FINRA put it simply: a dealer will always sell metal above spot and buy it back below spot. The gap between the two is the spread. They also report that some fraudulent dealers have charged spreads of more than 300 percent. Before you buy, ask how much you would receive if you had to sell the metal back tomorrow.
Wire, shipping and termination fees
These are small next to the premium, but they add up when you move money in, take a distribution of metal or close the account. Ask for each one as a dollar amount.
Flat fees versus scaled fees
Some custodians and depositories charge a flat dollar fee each year. Others charge a percentage of the account's value. Neither is cheaper in every case; it depends on account size.
With hypothetical numbers, a flat $200 storage fee is 0.4% of a $50,000 account and 2% of a $10,000 account. A scaled fee of 0.5% a year is $250 on $50,000 and $1,000 on $200,000. Flat fees weigh more heavily on small accounts, and scaled fees grow as the account value grows.
A worked first-year cost example
The figures below are round, hypothetical numbers chosen to show the math. They are not market rates or quotes. Use the real numbers from your own fee schedule and purchase invoice.
Say you roll $50,000 into a Gold IRA and buy bullion coins at a 5% premium over spot.
- Premium. The metal's spot value is $50,000 ÷ 1.05, or about $47,619. The premium you paid is about $2,381.
- Custodian. Setup fee $100, plus first-year administration of $100.
- Storage and insurance. $200 for the year, segregated, insurance included.
- Wire. A $30 fee to receive the rollover money.
Add it up: $2,381 + $100 + $100 + $200 + $30 = $2,811. That is about 5.6% of the $50,000 in year one. In year two, with no new purchases, the recurring fees in this example are $300.
Selling has a cost too. If the buyback price were 2% below spot and you sold right away, you would receive about $47,619 × 0.98, or roughly $46,667. On these hypothetical numbers, the gold price has to rise enough to cover more than $3,000 in costs before you break even. Gold prices also fall, and you can lose money.
Is there a Gold IRA minimum investment?
Minimums are a company policy, and each company sets its own. IRS contribution rules set a ceiling: $7,500 across all IRAs for 2026, plus $1,100 if you are 50 or older. Most people fund a Gold IRA with a rollover, which isn't limited by that ceiling. Our 401(k) to Gold IRA rollover guide explains how.
A minimum matters mostly because of flat fees. The same $300 a year is a much larger share of a $10,000 account than of a $100,000 account.
Fee checklist: questions to ask
- What is the setup fee, and what is the annual administration fee?
- Is storage segregated or commingled, and what does each cost per year?
- Is insurance included, and what does it cover?
- Are fees flat or a percentage of account value?
- What premium over spot am I paying on each coin or bar, in dollars?
- What would you pay me per ounce if I sold it back tomorrow?
- What are the wire, shipping, distribution and termination fees?
- Can I have all of this in writing before I sign?
The CFTC tells consumers to ask about fees up front and get them in writing. It also warns that some dealers add hidden one-time or monthly fees. In one case it described, a dealer and IRA custodian charged nearly $150,000 in commissions and fees on a $300,000 gold IRA rollover.
Check that the metal is IRA-eligible before paying a collector-coin premium. See IRA-eligible gold and how a Gold IRA works. For a fill-in version of this checklist, get the free Gold IRA Planning Guide.
Frequently asked questions
What fees does a Gold IRA charge?
A Gold IRA can carry a setup fee, an annual custodian fee, storage and insurance fees, and wire, shipping and termination fees. You also pay a premium over spot when metal is bought and receive less than spot when it is sold. Ask for every fee in writing, as the CFTC recommends.
What is the minimum investment for a Gold IRA?
Minimums vary because each company sets its own. IRS contribution rules set a maximum, $7,500 for 2026 plus $1,100 at age 50 or older, and rollovers from other retirement accounts aren't limited by that cap.
How much is the markup on gold in an IRA?
The CFTC says bullion typically sells at about 5 to 10 percent over the spot price, and collectible coins can carry premiums of 40 to 200 percent. Ask for the premium in dollars on each item before you buy.
Is segregated storage worth the extra cost?
Segregated storage keeps your specific coins and bars apart, while commingled storage returns metal of the same type and amount. Both hold IRA metal with a depository. Ask for the yearly price of each and decide whether getting back your exact items is worth any difference.
How do I calculate my total first-year Gold IRA cost?
Add the setup fee, first-year custodian fee, storage and insurance, any wire fees, and the premium you paid over spot. Divide the total by the amount you put in. Then estimate the buyback spread to see what you would get if you sold.
Sources
- CFTC: Customer advisory on precious metals and retirement accounts (premiums, hidden fees, fees in writing)
- CFTC press release 8215-20 (August 4, 2020): $150,000 in fees on a $300,000 gold IRA rollover
- CFTC and FINRA: 10 things to ask before buying physical gold, silver or other metals (spread, buyback, storage and insurance)
- CFTC press release 8881-24 (March 20, 2024): gold and silver IRA scam warnings
- IRS: 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500
- IRS: Instructions for Forms 1099-R and 5498
Take the checklist with you
The free Gold IRA Planning Guide puts the rollover steps, a fee checklist and the questions to ask a custodian in one PDF.
