Gold In Your IRA… New Custodian Needed
I have a client who has $25K of gold in his Roth IRA and Equity Trust charges him $500 a year for it. He is looking for a new custodian. Anyone have a reputable referral?
Thanks,
Glenn
Another consideration would be the fee plus transportation cost to transfer the physical gold to a new custodian
Remember that a Gold ETF like GLD is an alternative. You don’t have physical gold and it’s transaction (buy/sell), theft, storage, self directed IRA custodian fees, and transit exposures and expenses, and GLD is backed by actual physical gold bullion. It’s market price will not reflect physical gold exactly, but will be close enough. Expense ratio is .40%.
Permalink Submitted by THOMAS WNUK on Tue, 2018-02-13 01:58
My take on PMs like gold, silver, Pd, etc. is that if you don’t physically possess it then you don’t own it. If twas me, I’d liquidate it and transfer the funds to Fidelity or Vanguard or someone similar and put it into the market. It’s silly to pay $500 for someone to store 20 ounces of gold which if in one ounce gold eagles takes up about 2 cubic inches of space.