Minimum Purchase Requirements for Metals IRAs
The IRS sets no minimum for an IRA that holds precious metals, but most companies that sell metals for IRAs set their own minimum purchase, and some custodians do too. Minimums exist because an account carries fixed setup, administration, and storage costs that make very small accounts uneconomical. Goldco's minimum for IRA purchases appears in its published fee statement below; its direct-purchase minimum is listed separately.
Three Kinds of Minimums
When people talk about a "gold IRA minimum," they may mean any of three different things:
- Company minimum: the smallest total purchase a precious metals company will process for a new IRA. This is the figure most often advertised.
- Custodian minimum: some custodians require a minimum opening balance or charge fees that effectively set a floor.
- Product minimum: the smallest unit of a given product. A 1-kilogram gold bar, for instance, cannot be bought in halves, while fractional gold coins allow smaller purchases at higher premiums per ounce.
Separately, the IRS sets a maximum on new annual contributions, which changes over time and is listed on its contribution limits page. That cap does not apply to money moved by transfer or rollover, which is how most metals IRAs are funded.
Why Companies Set Minimums
- Fixed costs. Opening an account, coordinating a transfer, and shipping insured metal take roughly the same staff time whether the account is small or large.
- Fee proportion. Annual custodian and storage charges that are modest for a large account can consume a large share of a small one each year. A minimum helps avoid accounts where costs outweigh the holding.
- Shipping and handling. Insured delivery to a depository has a cost that does not shrink much with order size.
- Business model. Full-service companies that assign a specialist to each customer typically need larger orders than self-service online dealers.
Goldco's Minimums
Goldco's minimum for precious metals IRA purchases is part of its published fee statement:
Gold IRA Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50. as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually.
For purchases outside an IRA, Goldco's website lists a $10,000 minimum for direct purchases, according to Goldco's website at the time of writing; confirm current terms. The difference reflects the extra custodian and depository steps an IRA requires. Our page on Goldco minimum purchase requirements covers both in more detail, and buying directly from Goldco explains the non-IRA route.
Planning Around a Minimum
Check your eligible balances
Most metals IRAs are funded by transfer or rollover from existing accounts. Add up the balances that could be moved, and check whether each plan allows it. Employer plans sometimes restrict rollovers while you still work there. The IRS rollover chart shows which account types can move into which.
Consider a partial move
You do not have to move an entire account. A partial transfer or rollover lets you meet a minimum while keeping the rest where it is. See partial rollovers.
Combine several small accounts
Old IRAs and employer plans can sometimes be consolidated into one self-directed account, which may make a minimum reachable and reduce the number of fee schedules you track.
Look at the allocation, not just the threshold
Meeting a minimum is not a reason by itself to move money into metals. Think about what share of your overall savings you want in a single asset class. Our page on how much of a portfolio might go to precious metals discusses how people approach that question, and a licensed financial professional can help with your own numbers.
If You Are Below a Company's Minimum
- Compare other companies. Minimums vary widely across the industry. Check each company's current published terms; our page on Goldco alternatives names other companies to research.
- Buy outside an IRA. Direct purchases avoid custodian and storage fees, though you lose the IRA tax treatment and handle storage yourself.
- Build up over time. Some people make annual contributions to an IRA and move into metals once the balance makes sense relative to fees.
- Consider a fund. A gold ETF in an ordinary brokerage IRA has no metals minimum, though you own fund shares rather than physical metal.
How Fees Interact With Account Size
Fixed annual charges matter more as accounts get smaller. Before opening an account near the minimum, estimate total yearly custodian and storage costs as a percentage of the account. Compare that with what you might pay to hold metal another way. The breakdown in precious metals IRA fees explained can help you build that estimate.
Frequently Asked Questions
Can I add smaller amounts after meeting the minimum?
Often yes. Many companies apply the minimum only to the opening purchase. Ask what applies to later purchases.
Does the minimum include fees?
Usually the minimum refers to the metal purchase amount. Fees are typically separate. Confirm in writing.
Is a higher minimum a sign of a better company?
Not necessarily. It reflects a business model. Judge companies on pricing, transparency, and written terms.