Gold IRA Fees: Everything You Need To Know


Investing in a gold IRA typically includes:

  • Setup Fees
  • Storage and Maintenance Fees
  • Miscellaneous Fees

However, there are other fees, such as the cost of precious metals, management fees, and many more.

In this article, we will look into the different fees you’ll be encountering when you invest in a gold IRA. We’ll also review the top companies and list down the pros and cons of each firm.

Gold IRA Fees


storage and maintenance



Minimum initial investment

$50 to $150

$50 to $300

Around $25

Around $40 per transaction

$10,000 to $50,000

Account Setup Fees

Applying for a gold IRA costs around $50 on average, but fees usually vary depending on your gold IRA company. Setting up typically includes:

  • Processing and filing of necessary documents.
  • Transferring funds into your gold IRA account, usually from an existing regular IRA or a 401k. This is called a rollover.
  • Selecting your precious physical metals.

Expect to pay up to $150, since companies often include extra steps and processes. Some companies also waive the initial setup fee if you deposit a large sum of money on the first contribution.

Storage and Maintenance Fees

Hiring a custodian or depository to store and manage your gold typically ranges around $50 to $300 annually, but this usually varies from company to company.

Upon paying for storage and maintenance fees, your custodian will take on several responsibilities for you. Here are some of them:

  • Store and manage your assets for you.
  • Maintain your assets and keep them pristine.
  • Allow you to monitor your assets by keeping you updated.
  • Issue and handle reports required by the IRS.

Normally, custodians charge a one-time payment to cover all expenses, but others demand a percentage from the investor’s assets instead.

Miscellaneous Fees

Part of opening a gold investment entails having to pay several miscellaneous fees which are often unavoidable. An example of this is a wiring fee, which typically costs around $25.

A wiring fee is an amount paid for every wire transfer made from your account to either a gold IRA company, custodian, or depository.

Transaction Fees

Transaction Fees are fees charged by custodians for every sale or purchase an investor makes within a gold IRA. Fees for every transaction usually cost around $40 on average.

Spot Price Fees

Aside from being able to purchase precious physical metals through a gold IRA, investors can also pay additional fees to purchase bullion at a spot price.

Fees vary from dealer to dealer for spot prices on precious physical metals.

Minimum Initial Investments

Each company requires a minimum initial investment that investors must deposit upon opening an account. Initial investments are usually set at around $10,000 to $50,000 and vary from firm to firm.

Costs and Pricing of the Best Gold IRA Companies 

Investing in a gold IRA requires working with a gold IRA company that suits your budget and meets your demands.

Here are reviews of some of the top precious metals IRA companies to help you determine the best company for your needs.

Goldco Precious Metals

According to, Goldco is the best gold IRA company of 2022. Goldco has been a leading provider in the precious metals market since 2006 and has served thousands of investors across the United States.

Starting an account with Goldco entails a setup fee of $50, a storage fee of around $100 to $150, and a maintenance fee of $80.

Pros and cons of working with Goldco include:


  • American Hartford Gold allows investors to sell their precious metals back to the company, which can be helpful in liquidating assets.

  • Goldco takes care of its clients by carefully guiding them through the entire account opening process.
  • Opening an account can be done online, which is a convenience that most individuals look for in today’s digital age.


  • Goldco has a higher minimum investment requirement compared to other companies, which is set at $25,000.

American Hartford Gold

Founded in 2015, American Hartford Gold is a family-owned investment company which is widely recognized as one of the best gold IRA firms in the country.

Starting an account with American Hartford Gold requires hiring a third-party gold IRA custodian who will store and manage your gold for you. However, investors are still required to pay fees for tracking and insurance, which costs around $180, with first year fees being waived.

American Hartford Gold is especially known for its efficiency and reliability in providing a quick and easy account opening process, as well as seamless transactions and fast precious metal deliveries.

Pros and cons of working with American Hartford Gold include:


  • American Hartford Gold allows investors to sell their precious metals back to the company, which can be helpful in liquidating assets.
  • There is no minimum investment requirement, which allows investors to deposit money on their own terms.


  • The prices of their physical precious metals are not listed on any of their websites. In order to know more about their pricing, you must speak with the company directly.

Birch Gold Group

Birch Gold Group is a precious metals company that has been serving clients for over 20 years now. It is a company that prides itself in experience and knowledge. Starting an account with Birch Gold includes a one-time setup fee of $50, a storage fee of around $100, and a management fee of around $80.

The company has gained a reputation for helping clients and giving them the proper guidance in starting their gold IRA journey.

Birch Gold also ensures its clients are well-educated on the intricacies of the gold market by providing clients with a plethora of resources about gold, such as comprehensive guides to informative articles.

Pros and cons of working with Birch Gold Group include:


  • Birch Gold waives fees on investments over $50,000 annually.
  • The company’s website contains all the information every investor needs, which provides a lot of accessibility and convenience.
  • The company has established a reputation as one of the most successful and reliable IRA firms in the country, which ultimately cultivates a sense of trust in its clients.


  • Some fees remain undisclosed because they are subject to change, which could haunt investors later on.
  • Birch Gold does not provide its services to investors outside of the United States.

Advantage Gold

Advantage Gold was founded in 2014 and has been one of the top gold IRA companies in the industry. The company prides itself in having the fastest and most efficient IRA rollover process. Starting an account with Advantage Gold includes a one-time setup fee of $50, a storage fee of around $50 to $100 annually, and an annual account fee of $95 to $250.

The firm has established a reputation rooted in excellent customer service, integrity, and transparency. From the rollover to looking for a custodian, they have representatives that guide you through the entire IRA process.

The company also provides a variety of resources and tools to keep their clients informed and educated on everything they need to know about Gold IRAs.

Pros and cons of working with Advantage Gold include:


  • The company has a buy-back program which allows investors to sell their precious metals back to the company at spot price or higher.
  • The minimum investment purchase is set at around $10,000, making it easy for first-time investors.
  • Low storage and custody fees.


  • Their website does not contain prices or information on any of their physical precious metals.
  • The minimum investment for rollovers is set at $25,000, which clients may find expensive.

Augusta Precious Metals

Augusta Precious Metals has been serving clients and investors since 2012 and has garnered an image built on integrity. Starting an account with Augusta Precious Metal includes a one-time setup fee of $50, a storage fee of around $100, and a maintenance fee of around $100.

As a firm that is established on the principles of honesty and truthfulness, the company provides its customers with prices that are affordable and transparent.

Overall, Augusta Precious Metals is a reliable company, dedicated to ensuring that its investors are well-informed and educated before making any investment moves or financial decisions.

Pros and cons of working with Augusta Precious Metals include:


  • The company has pricing plans that are clear and straight to the point, which allows first time investors to easily compare and review prices.
  • Clients who purchase physical gold or other precious metals outside a precious metal IRA can still avail of the services being offered by the company, such as consulting and management services.
  • The company has established itself as one of the biggest and most trusted firms in the United States by amassing a multitude of awards from various governing bodies, such as Business Consumer Alliance.


  • The company has a minimum initial investment of $50,000, which can be costly for both first-time and regular investors.

Oxford Gold Group

Oxford Gold Group is a precious metals company operating since 2018, and is owned and managed by industry veterans. Starting an account with Oxford Gold Group includes an annual fee of around $175 to $225 that covers setup fees, storage fees, maintenance fees, and other expenses.

Despite the company being relatively new compared to other IRA firms, Oxford Gold Group has already established itself as one of the leading distributors of precious metals in the United States.

The company prides itself in providing affordable investment options to investors all over the country, while ensuring excellent quality and superb customer service. 

Pros and cons of working with Oxford Gold Group include:


  • The company offers pricing plans that are transparent and unambiguous, which is beneficial for both first-time buyers and seasoned investors.
  • Transactions are fast and efficient.
  • Deliveries and shipments are sent directly by the company to the client.


  • The company specializes more in providing precious metals than opening gold IRAs.
  • Applications and purchases cannot be done online.

Other top-notch gold IRA companies include:

  • Noble Gold Investments
  • Regal Asset
  • Gold Alliance
  • Patriot Gold Group

Clients can also purchase various kinds of American bullion and gold bullion, such as the Gold American Eagle coin, silver coins, and other precious metals.

Here are some of the best bullion providers in the country:

  • JM Bullion
  • SD Bullion

Some top rated IRA custodians include:

  • Delaware Depository
  • Goldstar Trust Company
  • Strata Trust Company

Frequently Asked Questions About Gold IRAs

What is an IRA? What does IRA stand for?

IRA stands for Individual Retirement Account. An IRA is a retirement account that can be opened by any working citizen in the United States.

IRAs are accounts where individuals deposit and invest money, typically to save up for a comfortable retirement.

What other IRAs are there?

Aside from a gold IRA, there are four other IRAs:

  • Traditional IRA: A traditional IRA, unlike a gold IRA, is a retirement account that allows individuals to invest in the global market. Traditional IRAs grow money on a tax-deferred basis, which means you only get taxed once you collect your distributions at the start of your retirement.

  • Roth IRA: A Roth IRA is the opposite of a traditional IRA. Contributions are made on a tax-free basis, which means you won’t have to pay any taxes once you withdraw your distributions during retirement.

  • SEP IRA: A SEP IRA is an IRA that allows small business owners to open retirement accounts for their employees. However, only business owners can deposit contributions for their employees.

Simple IRA: A Simple IRA functions the same way as a SEP IRA, but both the business owner and the employee/s can make contributions.

Who is eligible to open an IRA?

Any individual who is currently employed and has earned income can apply for an IRA. However, it is crucial to be aware of all the guidelines and policies before opening an account.

Understanding all the necessary regulations before starting a gold IRA investment will save you a lot of time and will prevent you from paying unwanted fines and penalties.

How do you open a Gold IRA? How long does it take?

Opening a gold IRA is a smooth process. Applying can take around 10-15 minutes, while processing and setting everything up can be finished in one business day. Funding the account usually takes up to 5 days. However, if you’re planning to do a rollover, it may take around ten business days to complete the transfer.

Starting a gold IRA investment entails:

  • Choosing the right company: Each company has different fees and services. When choosing a company, it is important to select an institution that perfectly suits your needs and budget.

  • Depositing or transferring money into your account: Regular deposits usually take up to five days, depending on your custodian. Rollovers can take up to ten days.

  • Selecting your physical precious metals: Once your account has been funded, you can start selecting your desired physical precious metals. Apart from gold, you can also choose other physical precious metals such as silver, platinum, and palladium.

  • Hiring a custodian or a depository: After purchasing your assets, you must hire a custodian or a depository to store and manage your physical precious metals for you.

On some occasions, a gold company already provides custodian services, which lessens the hassle of looking for an external custodian.

Can I transfer my funds from a traditional IRA to a gold IRA?

Transferring funds from a traditional IRA to a gold IRA is called a gold IRA rollover. A gold IRA rollover can be performed by anyone who has a traditional IRA and plans to switch over to a gold IRA.

You can also switch over from a 401(k) to a gold IRA without any taxes or additional costs.

What is the difference between an IRA rollover and an IRA transfer?

An IRA rollover is the process of transferring funds between different types of IRAs, while an IRA transfer is transferring funds between IRAs of the same type.

For instance, transferring funds from a Roth IRA to a gold IRA is an IRA rollover. Conversely, transferring funds from one SEP IRA to another is considered an IRA transfer.

If I open a gold IRA, will I be able to own physical gold?

Opening a gold IRA investment means purchasing gold and putting it under your name.

However, the IRS does not allow investors to store physical gold in their own residences until they reach the age of 59.5. Anyone who opens a gold IRA must hire a gold ira custodian to manage their gold for them.

If you want to withdraw your assets before the age of 59.5, you can pay a 10% tax penalty to acquire them immediately.

While some companies allow their clients to store their own gold, there are legal concerns around this practice that often result in costly penalties.

How much gold can I physically own?

You can purchase as much gold bullion as you want, as long as there are no laws on gold ownership or storage being violated.

There is no limit to how much gold a person can own. The IRS does not have any regulations or guidelines in place, neither does the government.

If I liquidate my gold IRA, can I have it in gold?

Once you decide to liquidate your gold IRA, you are given the option to have it in cash or in gold.

You can also withdraw money from your gold IRA account and buy a gold bar, a gold coin, or any other form of gold. However, doing so could lead to income taxes and other penalties.

What are the precious metals stored inside your gold IRA?

Another term for gold IRA is precious metals IRA, which means you can invest in various precious metals at the same time.

Aside from gold, companies also offer investments in silver IRA, platinum, and palladium.

Does the government track gold purchases?

You are not obligated to report anything regarding your gold investments, as long as they’re not liquidated. The government only tracks assets that are liquidated, such as cash, bonds, stocks, and other paper assets.

Are there other ways to invest in gold aside from gold IRA?

Apart from a gold IRA, there are several alternatives you can choose from if you still want to make a gold investment:

  • Gold stocks: Gold stocks are a mutual fund which allows individuals to invest in a mining corporation, a gold ETF, or a gold reserve.Investing in gold stocks can be processed through a licensed broker, but you can also invest by yourself.

  • Trading: Just like stocks and bonds, you can trade in gold. Gold assets that are available on the market include gold futures and spot gold.

  • Other precious metals IRA: Investing in a gold IRA allows you to invest in other precious metals such as silver IRA, platinum and palladium.

However, it is essential to keep in mind that the value of physical gold still surpasses the value of these physical precious metals.

Final Thoughts: Are Gold IRA Fees Too Expensive?

Investing in a gold IRA requires a deep knowledge and understanding of how IRAs work. However, it is more important to understand the costs and fees before opening an account.

While gold IRAs can quickly accumulate and become costly, the same can be said of any other investment.

Being aware of the costs of opening an IRA beforehand is essential in avoiding any unnecessary taxes and penalties that might haunt you later on.

About the author 

Jonathan Uy

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