Goldco Fees Explained
Goldco's fees are set out in a published fee statement, reproduced exactly below. The statement covers account-level charges for a precious metals IRA; separately, every coin or bar you buy carries a premium over spot. Knowing what each category pays for makes it much easier to compare Goldco with other companies.
Goldco's 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.
Everything else on this page refers back to that statement rather than repeating its numbers, because the statement is the authoritative version and may be updated. If anything you are quoted on a call differs from it, ask for the difference in writing.
What Each Fee Category Pays For
A precious metals IRA involves at least three parties: the precious metals company that sells the metals, the self-directed IRA custodian that administers the account, and the depository that physically stores the bars and coins. Fees attach to each role.
Setup fee
A one-time charge for opening the self-directed account. It covers the custodian's work to establish the IRA, verify your identity, and create account records. It is usually charged once, at the start.
Wire or transaction fee
Moving money between custodians, or sending funds to purchase metals, may involve a wire charge. Some custodians also charge per transaction when metals are bought or sold inside the account. Ask whether the charge applies once, or every time a purchase or sale happens.
Annual maintenance (custodian) fee
Self-directed IRAs that hold physical metals require more work than a typical brokerage IRA. The custodian must hold title on behalf of the IRA, file the annual Form 5498 with the IRS reporting your account's fair market value, issue Form 1099-R when distributions occur, and keep records of every purchase and sale. The annual maintenance fee pays for that administration.
Storage fee
Physical metals have to sit somewhere secure and insured. For an IRA, the IRS rules on collectibles mean the metals are held by a trustee or approved depository rather than at your home. The depository charges for vault space and insurance. Storage pricing can be flat or scaled to the value held, and segregated storage, where your specific items are kept apart, often costs more than non-segregated (commingled) storage. Our segregated vs non-segregated storage guide explains the trade-off.
The cost that is not on the fee statement: premiums
The price of each product includes a markup over the metal's spot value, known as the premium. Plain bullion coins and bars tend to carry lower premiums than proof, themed, or commemorative coins. On the way out, the price a dealer pays you (the bid) is below what it charges buyers (the ask). That gap, the spread, is often a larger cost than the annual fees, so ask about it directly. See premiums and bid/ask spreads.
Flat Fees vs Scaled Fees
Companies and custodians generally use one of two models. Flat fees cost the same regardless of account value, which tends to favor larger accounts. Scaled fees rise with the value of metals held, which can be cheaper for small accounts but costlier as holdings grow. Neither is better in every case; the right comparison depends on how much you plan to hold and for how long.
A simple way to compare: write down each company's fees for the first year, then for each later year, then estimate the total over the period you expect to hold the metals. Add the premium you would pay on the specific products you are considering. Then estimate what you would receive on resale, using each company's written buyback terms.
A Checklist for Comparing Fee Structures
- Is the full fee schedule published, or only available on request?
- Which fees are one-time and which repeat annually?
- Is storage flat or scaled, and is segregated storage offered?
- Who sets the custodian and depository fees: the precious metals company or the custodian itself?
- What is the premium over spot on each product you are being offered?
- What are the written buyback terms, and what spread applies when you sell?
- Are there fees to close the account or take an in-kind distribution?
Our guide to comparing precious metals companies turns these questions into a scorecard, and precious metals IRA fees explained covers fee categories across the industry.
Fees for Direct Purchases
If you buy metals directly rather than in an IRA, there is no custodian. Your costs are mainly the premium, shipping and insurance on delivery, and whatever storage you arrange yourself, such as a home safe or a private vault. Goldco's website lists a $10,000 minimum for direct purchases, according to Goldco's website at the time of writing; confirm current terms. See buying directly from Goldco.
Frequently Asked Questions
Does Goldco charge the custodian fee itself?
Custodian and storage fees are typically charged by the custodian and depository, not the precious metals company. Ask Goldco which party bills each item on the fee statement.
Are fees the only cost of a metals IRA?
No. Product premiums and the spread you face when selling are separate from account fees and can be larger.
Can storage and custody fees for metals be paid from outside the account?
Custodians often allow fees to be paid from the account or from an outside source. Ask the custodian how it handles this and how each option is reported.
Where can I see the minimum for a Goldco IRA?
The IRA minimum appears in Goldco's published fee statement above. For more detail, read our Goldco minimums page.