Gold IRA Custodians & Depositories Compared (2026): Fees, Storage, Minimums and How to Choose

If you are opening a gold IRA, three different businesses will touch your money. The dealer sells you the coins or bars. The custodian owns the account on paper, on your behalf. The depository keeps the metal in a vault. Most people only ever speak to the dealer, so the custodian and depository can feel invisible. They are not. Between them they charge most of the yearly fees you will pay for as long as you own the account.

This guide is about those two "invisible" businesses. We compare nine custodians that are often used for precious metals IRAs and five depositories, with fee tables, worked examples and the questions you should ask before you sign anything.

Here is what you will find below:

• A plain-English explanation of who does what: custodian vs dealer vs depository, who you pay and who you get to choose.
• What makes a custodian qualified to hold an IRA, and how to check the IRS list of approved non-bank trustees yourself.
• The three ways custodians price their services: flat, tiered and per-asset.
• Profiles of Equity Trust, STRATA Trust, Kingdom Trust, GoldStar Trust, Preferred Trust, Madison Trust, Advanta IRA, uDirect IRA and New Direction Trust, each with a fee table and honest notes on what we could and could not confirm.
• A 10-year fee comparison at $50,000, $100,000 and $250,000, with the math shown line by line.
• The main depositories - Delaware Depository, Brink's, IDS, the Texas Bullion Depository and the A-Mark/CNT option - and a storage cost table from $50,000 to $500,000 showing where percentage pricing overtakes a flat fee.
• Segregated vs commingled storage, insurance and audits, how to switch custodians, red flags, a question script and a checklist.

If you are new to the topic, our guide to what a gold IRA is and our complete gold IRA guide cover the basics. If you mainly want to know the total cost - including the dealer's markup, which is usually bigger than any custodian fee - read our gold IRA fees guide alongside this one.

A note on our numbers

Only one custodian fee schedule in this guide - Equity Trust's - comes straight from the custodian's own published document (Retail Fee Schedule FS-0001-03, revised November 6, 2025). A few others come from the custodian's own website as reported in October 2026. Many figures come from third-party review sites, which often disagree with each other and are sometimes out of date. We label every figure as reported, give its date where we have one, and point out conflicts. Treat every number here as a starting point for your own questions, not as a quote. Custodians change their fees, sometimes more than once a year.

None of this is financial advice. A gold IRA has real costs, pays no interest or dividends, and gold can fall sharply - it dropped about 29% between its record of roughly $5,595 an ounce on January 29, 2026 and a low near $3,994 in late June 2026. A fee-only adviser who does not sell metals can help you decide whether it fits your plan at all.

The single most useful thing to understand about a gold IRA is that it is a three-party arrangement. Each party has a different job, a different way of getting paid and a different relationship with you.

The dealer

The dealer is the company you see advertised: the firms we review on this site, such as Augusta Precious Metals, Goldco, American Hartford Gold and American Gold and Silver Group. A dealer is a seller of metal. It is not a custodian, it is not a trustee, and it is never "IRS-approved" - the IRS does not approve or endorse precious metals dealers. If a sales rep tells you otherwise, treat it as a warning sign (see our gold IRA scams and red flags guide).

The dealer makes most of its money on the markup, which is usually the largest single cost in a gold IRA. Our gold IRA fees guide covers markups in depth.

The custodian

The custodian is the legal holder of your IRA. Under federal tax law, an IRA must have a trustee or custodian that is a bank, a federally insured credit union, a savings and loan, or another entity the IRS has approved. You cannot be your own custodian, and neither can the dealer (unless the dealer is itself a qualified trustee, which the ones we review are not).

In practice the custodian:

• Opens the account and checks your identity.
• Requests the transfer or rollover from your old IRA, 401(k), TSP or 403(b).
• Pays the dealer when you sign a "buy direction" form, and confirms the metal arrived at the depository.
• Sends you statements, and files IRS Form 5498 (contributions and year-end value) and Form 1099-R (distributions).
• Handles distributions, including required minimum distributions (RMDs) from traditional IRAs.

The custodian does not give investment advice and does not judge whether the price you paid was fair. Most self-directed custodians make you sign a form saying exactly that. That matters: if a dealer overcharges you, the custodian will usually still process the purchase.

The depository

The depository is the vault. It receives the metal from the dealer, checks it in, stores it and reports to the custodian. IRS rules require IRA gold to be in the physical possession of the trustee or its agent, which is why your coins cannot sit in your safe at home (see can you store IRA gold at home?). The depository acts as that agent.

Who you actually pay

This is where people get confused. In a typical gold IRA:

• You pay the dealer once, when you buy, through the markup built into the price.
• You pay the custodian a setup fee and then an annual fee, usually from cash held in the IRA or by card.
• You pay the depository through the custodian, which adds the storage fee to its own bill.

So your yearly bill usually comes from one place (the custodian) but covers two businesses. When a dealer says "fees are about $225 a year", it usually means custodian plus storage at a small balance. It does not include the markup.

Who you get to choose - and the "partner custodian" problem

Legally, the IRA is yours, so you can pick the custodian. In practice, most dealers have one or two custodians they work with all the time, and the account-opening paperwork they send you is often pre-filled for that custodian. Dealers may steer you to a "partner" custodian because it is familiar to their staff, because the paperwork is fast, or because of a business relationship. None of that is necessarily bad, but it means the custodian was chosen for the dealer's convenience, not yours.

The good news: custodian fees are published, or at least available on request, so you can check whether the partner custodian is competitive before you sign. We cover this in more detail in can you choose your own custodian? below.

Not every company that calls itself a "custodian" can legally hold an IRA. The rules come from the Internal Revenue Code and Treasury regulations, and IRS Publication 590-A explains them for ordinary readers (IRS Pub 590-A).

Three kinds of qualified custodians

The IRS approves non-bank trustees - not dealers

This is the point the sales pitches blur. The IRS keeps a public list of approved non-bank trustees and custodians: IRS approved non-bank trustees and custodians. Being on that list means a company has shown the IRS it meets certain standards (such as net worth, audits and fiduciary experience) to act as an IRA trustee even though it is not a bank.

That approval is about holding IRAs. It says nothing about the price of gold you buy, and it never covers a dealer that is not itself a trustee. So:

• "IRS-approved custodian" can be a true statement if the custodian is on the list (or is a bank or qualifying trust company that does not need to be).
• "IRS-approved gold IRA company" or "IRS-approved dealer" is not a real category. The IRS does not approve dealers.
• "IRS-approved coins" is shorthand for coins and bars that meet the tax-code rules on fineness. See our guide to IRS-eligible precious metals for what that actually means.

How to check a custodian in five minutes

1. Get the full legal name of the custodian from your paperwork - for example "Equity Trust Company", not just "Equity".
2. Search the IRS non-bank trustee list for that name. If it is there, note the listing.
3. If it is not on the list, ask the custodian directly what kind of entity it is: a bank? A trust company? Chartered in which state? A legitimate trust company will tell you which state regulator oversees it.
4. Look up that regulator and confirm the charter. State banking departments usually have a search page for licensed trust companies.
5. Read the custodian's own fee schedule and disclosure, not a dealer's summary of it.

If a company cannot or will not tell you how it is legally qualified to hold an IRA, do not send it money.

Watch for brand names and affiliates

Some custodians operate several brands or have separate affiliates for metals. We note one example in the Kingdom Trust section below, where reports say precious metals accounts may now sit with an affiliate. Make sure the name on your account application matches the name you checked.

What "qualified" does not mean

Even a fully qualified custodian is not your adviser. It will not tell you whether a coin is overpriced, whether a gold IRA suits you, or whether a dealer is honest. Self-directed custodians are designed to follow your instructions. That is why your own due diligence - on the dealer, the custodian and the depository - matters so much. Our guide on how to choose a gold IRA company covers the dealer side.

Custodians use three basic pricing models. Knowing which one you are looking at tells you how your bill will change as your account grows.

Flat fees

A flat fee is the easiest to budget. If the annual fee is $150 and storage is $115, you pay $265 a year whether you hold $30,000 or $300,000 of metal. Flat pricing gets cheaper as a percentage of your account as the account grows: $265 is 0.53% of $50,000 but only 0.106% of $250,000.

The catch is that flat-fee custodians often charge separately for each purchase or sale. STRATA, for example, reportedly charges $40 per trade plus a $35 depository handling fee. If you buy once and hold, that barely matters. If you buy every month, it adds up.

Tiered fees

Tiered schedules charge more as your account value rises. Equity Trust is the clearest example because its schedule is published in full. A $14,000 account pays $225 a year, a $60,000 account pays $425, and a $250,000 account pays $700, before storage.

Two things to know about tiers:

• Your fee can rise without you doing anything. If gold climbs and your account crosses a threshold, you move into the next tier. That is what happened to many accounts in 2025, when gold rose about 65%.
• Thresholds can matter more than the rate. An account worth $99,999 at Equity Trust pays $425; one worth $100,000 pays $500. Check which value the custodian uses (for example, a year-end value) and when.

Per-asset fees

Some self-directed custodians were built for real estate, private loans and other alternative assets, where "one asset" means one property or one note. When they hold metals, the question is how they count. Is all your gold one asset? Is each coin type separate? Each bar? The answer can double or triple the bill. Madison Trust's reported schedule charges $139 a quarter for the first asset and $30 a quarter for each extra one, so a second asset adds $120 a year.

Percentage-of-value fees

A few custodians, and many depositories, charge a percentage of value, often quoted in "basis points" (1 basis point = 0.01%) or "dollars per $1,000". GoldStar's older schedule, for example, was reported as 0.08% of value with a $50 minimum and $250 maximum. Percentage pricing is cheap on small accounts and gets expensive on large ones - we show exactly where it overtakes flat pricing in the storage section.

The fees that are not "annual"

Every custodian also has a list of smaller fees. These are easy to miss and can add up:

For the whole cost picture - including dealer markups and buyback spreads - our gold IRA fees guide walks through all five layers, and our gold IRA fee calculator lets you plug in your own numbers.

Equity Trust Company is one of the largest self-directed IRA custodians and one of the names you are most likely to see on gold IRA paperwork. Our research notes list it as a custodian used with Augusta Precious Metals and Goldco (background knowledge we could not confirm from a primary source in October 2026) and as one of the custodians Birch Gold Group works with.

It is also the one custodian in this guide whose full fee schedule we could read in the original: Equity Trust Retail Fee Schedule (FS-0001-03, revised 11/06/2025). All Equity Trust figures below come from that document.

The annual fee is tiered - and it is not $75-$225

Many review sites say Equity Trust charges "$75-$225 a year". According to the custodian's own schedule, that is wrong for any account worth $15,000 or more. The annual fee is tiered by account value and is not prorated (you pay the full year even if you open in November).

Storage columns add Equity Trust's published storage charge ($110 non-segregated or $160 segregated, billed in January) to the annual fee. Source: Equity Trust Retail Fee Schedule FS-0001-03, Rev. 11/06/2025.

All the other Equity Trust fees

What this looks like in real life

Example 1 - a $60,000 account, non-segregated storage. Annual fee $425 + storage $110 = $535 a year. In the first year, add the $50 online setup fee: $535 + $50 = $585. As a share of the account: $535 / $60,000 = about 0.89% a year.

Example 2 - the tier creep. Say your account is worth $90,000 (annual fee $425). Gold rises 15%, so the account becomes $90,000 x 1.15 = $103,500. You have bought nothing, but you are now in the $100,000-$199,999 tier and your annual fee becomes $500, up $75. With storage, your bill goes from $535 to $610.

Example 3 - the jump at $500,000. The fee goes from $1,075 to $1,750 when an account crosses $500,000 - a $675 step. An account worth $490,000 that rises 3% to $504,700 would pay $675 more in custodian fees the next year.

Example 4 - leaving. Closing a $100,000 Equity Trust account by moving the metal in kind to another custodian could cost the $250 full termination fee plus a $50 in-kind transfer fee: $300, plus whatever the new custodian charges to open. Ask Equity Trust which fees apply to your exact situation before you start - this is our reading of the schedule, not a quote.

Who Equity Trust may suit

• Small accounts under $15,000, where $225 a year is competitive.
• People who want a large, long-established custodian that many dealers already work with, so paperwork is routine.
• People who value storage being bundled into one bill.

Who should compare carefully

• Accounts of $100,000 or more. At $100,000 the annual fee plus storage is $610, roughly double some flat-fee custodians. At $250,000 it is $810.
• Anyone whose dealer automatically fills in Equity Trust. That may be fine, but run the numbers in the 10-year comparison below first.

Data quality: high. Taken from the custodian's own published schedule (revised November 2025). Still, confirm the current version before you open an account, because custodians revise schedules.

STRATA Trust Company is a self-directed IRA custodian that offers a dedicated pricing plan for precious metals accounts. Our research notes list it among the custodians Birch Gold Group works with. We could not reach STRATA's own fee schedule from our research environment, so the figures below are reported by a third-party site (safeounce.com) as of October 2026.

What this looks like in real life

First year, one purchase, commingled storage, opened online: $0 setup + $150 annual + $115 storage + $40 trade + $35 handling = $340.

If the handling fee is actually $75 (the conflicting report): $0 + $150 + $115 + $40 + $75 = $380.

Each later year, no trades: $150 + $115 = $265. On a $100,000 account that is $265 / $100,000 = 0.265% a year; on $250,000 it is 0.106%.

If you buy monthly: 12 trades x ($40 + $35) = $900 a year in trade fees alone. Flat-fee custodians reward "buy once and hold".

Uncertainty flags

• The annual fee reportedly changed on September 1, 2026, from $125 to $150. Older review pages will show the lower figure.
• The depository handling fee is reported as $35 by one source and $75 by another.
• We do not know whether STRATA's flat storage fee applies at every account size, or whether larger balances are charged by value. Ask.

Who STRATA may suit

• Larger accounts that will buy once (or rarely) and hold, where a flat $265 a year is low as a percentage.
• People comfortable opening an account online to avoid the setup fee.

Data quality: medium. Third-party figures with one known conflict and a recent price change. Ask STRATA for its current fee schedule in writing.

Kingdom Trust is a custodian that has long been named on precious metals IRA paperwork. It is also the custodian in this guide where we are least certain what the current arrangement looks like.

The rebrand / affiliate question

A third-party review site reports that Kingdom Trust's precious metals business now operates through an affiliate reportedly called "Digital Trust". We could not confirm this from Kingdom Trust's own materials in October 2026. If your paperwork names Kingdom Trust, Digital Trust or another related entity, ask:

• Which legal entity will actually be the custodian of my IRA?
• How is that entity qualified - bank, state-chartered trust company, or IRS-approved non-bank trustee?
• Which fee schedule applies to my account, and can I have it in writing?

Then check the answer using the steps in what makes a custodian qualified.

Reported fees (high uncertainty)

Source: safeounce.com, a third-party site, as of October 2026. High uncertainty.

What this might look like

If the reported figures are right - no annual account fee and $150 non-segregated storage - a year with no trades would cost $150, and the first year with one purchase and a $50 setup fee would cost $50 + $150 + $40 = $240. That would be among the lowest in this guide. But if an older $195 or $225 annual fee still applies, the yearly cost would be $345-$375. Because the range is so wide, we left Kingdom Trust out of our 10-year cost comparison.

On termination: if the fee is $100 per asset and you hold three different coins or bars, you might pay $300 - the same as the flat reported figure. If you hold five, you might pay $500. Ask how "asset" is defined.

Who Kingdom Trust may suit

Possibly cost-conscious investors - if the "no annual fee" report is confirmed in writing for your account type. Until then, treat it as unverified.

Data quality: low. Third-party figures, conflicting history, and an unconfirmed change of entity. Get everything in writing.

GoldStar Trust Company is a custodian that has specialized in precious metals IRAs for many years. Our research notes list it as one of the custodians used by Birch Gold Group. Our figures come from a third-party site (whitemetalres.com) and are reported, not confirmed with GoldStar.

What this looks like in real life

Current reported schedule, commingled storage: $90 + $125 = $215 a year, plus $50 in the first year = $265. That is flat whatever the account size.

Older percentage schedule, for comparison (0.08% with a $50 minimum and $250 maximum):

If you see the 0.08% figure quoted, it is likely outdated - but ask which schedule applies to you.

Segregated storage example (our reading: $225 minimum, plus 0.18% of the value above $125,000):

• $100,000 account: below $125,000, so $225.
• $250,000 account: $250,000 - $125,000 = $125,000; 0.18% x $125,000 = $225; total $225 + $225 = $450.
• $500,000 account: $500,000 - $125,000 = $375,000; 0.18% x $375,000 = $675; total $225 + $675 = $900.

Conveniently, $225 is exactly 0.18% of $125,000 (0.0018 x $125,000 = $225). So this reading works out the same as "0.18% of the whole account value, with a $225 minimum". Either way, ask GoldStar to show you the calculation for your balance in writing.

Who GoldStar may suit

• Investors who want a low flat annual fee and commingled storage.
• Larger accounts, where $215 a year is a very small percentage.

Data quality: medium-low. Third-party figures with a changed schedule. Confirm the current fee schedule directly.

Preferred Trust Company publishes a fee schedule on its own website, which is a good sign for transparency: preferredtrustcompany.com/fee-schedule. The annual fee below is from that page as reported in October 2026. The setup fee comes from a third-party source.

What this looks like in real life

Because storage is separate, we need an assumption. If you used Delaware Depository commingled storage at the rate shown on a custodian election form ($0.80 per $1,000 a year, $95 minimum - see our depository section):

• $100,000 account: $0.80 x 100 = $80, below the minimum, so storage is $95. First year: $50 setup + $300 annual + $50 purchase + $95 storage = $495. Later years: $300 + $95 = $395.
• $250,000 account: storage $0.80 x 250 = $200. Later years: $300 + $200 = $500.

Note the $200 sale fee. If you sell metal to take an RMD or cash out, each sale costs $200. If you plan to sell a little each year in retirement, that adds up: 10 annual sales would cost $2,000. Ask whether an in-kind distribution ($200) or a single larger sale works better for you, and talk to a tax professional about the tax side (see our gold IRA taxes and RMDs guide).

Who Preferred Trust may suit

• People who value a published, readable fee schedule.
• Buy-and-hold accounts that will rarely sell.

Who should compare carefully

• Retirees who expect to sell small amounts often, because of the $200 sale fee.
• Smaller accounts, where $300 a year plus storage is a high percentage.

Data quality: medium-high. The main fees come from the official site; the setup fee is third-party. Storage depends on the depository you choose.

Madison Trust Company is a self-directed IRA custodian that holds a wide range of alternative assets, including precious metals. Its fees FAQ on its own website is the main source for the figures below, as reported in October 2026, with one conflicting third-party figure noted.

The per-asset math

Madison Trust uses a per-asset model. Here is how the annual fee changes with the number of assets:

The key question is what counts as one asset. If all your metal at one depository counts as one asset, you pay $556. If Gold Eagles, Gold Buffalos and a silver bar count as three assets, you pay $796. Ask before you buy, and get the answer in writing.

The $500 cash minimum

Madison Trust reportedly requires $500 to stay in cash in the account. That cash earns little or nothing compared with what you might earn elsewhere, and it is $500 not in metal. It is a modest cost, but worth knowing.

What this looks like in real life

A $100,000 account holding one asset, with Delaware Depository commingled storage at the election-form rate ($95 minimum): $556 + $95 = $651 a year, plus $50 setup in year one = $701. That is 0.65% a year on $100,000.

If the $440-a-year figure is correct instead: $440 + $95 = $535 a year.

Who Madison Trust may suit

• Investors who want one custodian for metals and other alternative assets (such as real estate or private notes).
• Investors holding a single metals position.

For a metals-only IRA, it is among the more expensive options in this guide. Data quality: medium. Official FAQ, but a conflicting third-party figure.

Advanta IRA is a self-directed IRA administrator that publishes a fee schedule as a PDF on its own website. The figures below are from that schedule (revision dated May 2024) as reported in October 2026. A schedule from 2024 may have been updated since, so ask for the current one.

What this looks like in real life

A $100,000 account, Delaware Depository commingled storage at the election-form rate: $250 + $95 = $345 a year, plus $50 setup in year one = $395.

A $250,000 account: storage at $0.80 per $1,000 = $0.80 x 250 = $200. Annual total $250 + $200 = $450.

If the $295 figure is the current one, add $45 a year to each line.

Uncertainty flags

• The fee schedule we had is dated May 2024, more than two years old.
• One third-party site reports $295 rather than $250.
• We do not have Advanta's transaction or termination fees. Ask for the full schedule.

Who Advanta IRA may suit

Buy-and-hold investors who want a flat recordkeeping fee and are happy to choose and pay for storage separately. Data quality: medium.

uDirect IRA Services publishes its fees at udirectira.com/fees. Figures below are as reported from that page in October 2026.

What this looks like in real life

A $100,000 account, Delaware Depository commingled storage at the election-form rate: $275 + $95 = $370 a year; first year with setup: $420.

Taking an RMD by selling metal once a year: $50 per liquidation. Ten years of annual sales = $500 in liquidation fees. Compare Preferred Trust's reported $200 per sale, which over ten years would be $2,000.

Taking metal out in kind (having coins shipped to you as a distribution) costs a reported $75 at uDirect, plus shipping. Remember that an in-kind distribution from a traditional IRA is taxed at the metal's fair market value - see our gold IRA taxes and RMDs guide.

Who uDirect may suit

• Retirees who expect to sell small amounts regularly, thanks to the relatively low liquidation fee.
• People who like a short, published fee list.

Data quality: medium-high (company website, reported). Confirm before opening.

New Direction Trust Company (NDTCO) publishes fees at ndtco.com/fees. Its setup and annual fees below are as reported from that page in October 2026. Its metals trade fee comes from a third-party source and conflicts with an older company document.

What this looks like in real life

A $100,000 account, one purchase, Delaware Depository commingled storage at the election-form rate:

• First year: $30 setup + $220 annual + $130 trade + $95 storage = $475.
• Each later year with no trades: $220 + $95 = $315.

The trade fee matters if you buy in several batches. Four purchases in a year at a reported $130 each = $520 in trade fees - more than two years of the annual fee.

Who NDTCO may suit

Investors who want a low setup fee and a flat annual fee, and who will make few trades. Data quality: medium. Ask for the current metals trade fee in writing.

Here are all nine custodians side by side. Every figure is reported as of October 2026, from the source shown. "Bundled storage" means the custodian quotes a storage fee itself; "separate" means the depository's rate is added on top.

How to read this table

• Lowest reported annual fee: GoldStar ($90) - or Kingdom Trust if its "no annual fee" report is confirmed.
• Most expensive for a metals-only account at $100,000: Madison Trust ($556 for one asset) and Equity Trust ($500).
• Lowest fee to sell: Equity Trust ($10 per asset, max $30), then uDirect ($50).
• Highest fee to sell: Preferred Trust ($200 per sale).
• Bundled storage (Equity Trust, STRATA, GoldStar) makes comparison easier. For the others, add a depository rate from the depository section.

Fees are only one part of choosing a custodian. Service, how quickly it processes transfers and purchases, the depositories it works with, and whether your dealer will work with it all matter. And the custodian's annual fee is almost always smaller than the dealer's markup on the metal - see our gold IRA fees guide.

Annual fees look small. Over ten years, the differences become real money. Here is what eight custodians would cost over a decade at three account sizes, using the reported figures above.

Our assumptions

• The account value stays the same for ten years. (If gold rises, tiered and percentage fees go up; if it falls, they may go down.)
• You make one purchase at the start and no other trades. We do not include selling or closing the account - those exit fees are listed in the profiles.
• Commingled / non-segregated storage.
• For custodians that bundle storage (Equity Trust, STRATA, GoldStar), we use their quoted storage fee.
• For custodians that bill storage separately (Preferred, Madison, Advanta, uDirect, New Direction), we use the Delaware Depository commingled rate from a custodian election form: $0.80 per $1,000 a year, $95 minimum. That gives $95 at $50,000 ($40 is below the minimum), $95 at $100,000 ($80 is below the minimum) and $200 at $250,000 ($0.80 x 250).
• Online setup where offered. No wires, paper statements or late fees.
• Kingdom Trust is left out because its reported fees are too uncertain.

The formula is: setup + purchase fees + 10 x (annual fee + storage).

$50,000 account

$100,000 account

$250,000 account

What the tables tell you

• The spread is large. At $100,000, the gap between the cheapest (GoldStar, $2,200) and the most expensive (Madison, $6,560) in our illustration is $4,360 over ten years.
• Flat fees win as accounts grow. GoldStar and STRATA cost the same at $250,000 as at $50,000 in our model. Equity Trust's tiered fee rises from $5,400 to $8,150.
• Percentage storage adds up. For custodians with separate storage, the Delaware rate rises from $95 to $200 a year between $100,000 and $250,000 - an extra $1,050 over ten years.
• Exit fees are not included. Closing an Equity Trust account in full would add $250; Madison Trust, $225. Selling at Preferred Trust costs $200 a sale.

Data quality warning

Only Equity Trust's figures come from a full, current primary-source schedule. GoldStar and STRATA - the two cheapest in our tables - rely on third-party reports, and STRATA's fee changed in September 2026. Storage for five of the custodians is our assumption, not their quote. A $10 or $20 difference in a reported annual fee becomes $100-$200 over ten years, so get each custodian's current schedule in writing and rerun the math. Our gold IRA fee calculator can help, and our gold IRA fees guide adds the dealer markup and buyback spread, which are usually larger than all of these numbers.

What if gold rises?

Take a $100,000 account at Equity Trust. If gold rises enough to push the account to $210,000, the annual fee goes from $500 to $700. Over the remaining years, that adds $200 a year. At GoldStar or STRATA, the reported flat fee would not change. If you expect your account to grow (or plan to add to it), flat pricing tends to look better over time. If gold falls, the reverse can happen - Equity Trust's fee would drop if your balance falls into a lower tier.

The depository is the vault where your IRA's metal actually sits. You will rarely deal with it directly - the custodian contracts with it and passes on the bill - but the depository you pick affects your storage cost, how your metal is held and how easily you can move it later.

One important fact up front: no major depository we looked at publishes a simple IRA rate card. IRA storage rates reach the public mostly through custodian forms and dealer disclosures, and those sources conflict. Every rate below is reported, and you should confirm the current rate with your custodian before you choose.

Delaware Depository

Delaware Depository, in Wilmington, Delaware, is probably the depository named most often on gold IRA paperwork. It offers both commingled and segregated storage. Reported rates conflict:

The difference between sources likely reflects different custodian contracts, different dates, or the custodian adding its own margin. The practical lesson: the "same" vault can cost different amounts depending on which custodian you use. Ask your custodian for the exact Delaware rate it will charge you.

Who reportedly uses it: Augusta Precious Metals (background knowledge, not confirmed), Goldco, Birch Gold Group and Noble Gold, according to our research notes.

Brink's

Brink's is a large security and logistics company that operates precious metals vaults. A custodian storage form (from Entrust) lists Brink's IRA storage at $1.50 per $1,000 of value a year (15 basis points), for all metals. We did not find a separate commingled or segregated rate or a minimum on that form.

Brink's has vaults in more than one location; ask which facility would hold your metal. Who reportedly uses it: Goldco and Birch Gold Group list Brink's as a storage option, according to our research notes.

International Depository Services (IDS) - Delaware and Texas

IDS operates depositories in Delaware and Texas. One custodian schedule shows IDS segregated storage at a flat $150 a year for accounts under $500,000 and $200 a year above that. That schedule may be outdated, so confirm it. Noble Gold, a company we do not rank, reportedly offers storage at IDS of Texas as well as Delaware.

A flat segregated rate like this is unusual and, if current, very competitive on larger accounts.

Texas Bullion Depository

The Texas Bullion Depository is run by the State of Texas, in Leander, near Austin. It publishes a pricing page: texasbulliondepository.gov/pricing. The official schedule we saw dates from 2018 and uses daily accrual with a $25-per-quarter minimum. For IRA accounts, rates are reportedly negotiated through the custodian, and old press coverage cited about 0.5% of value a year, which would be expensive at larger balances. Treat that 0.5% as a rough, dated figure only.

Some people like the idea of a state-run vault. Check whether your custodian works with it, and get the IRA rate in writing - it may differ sharply from the retail schedule.

A-Mark / CNT Depository

You may see a depository connected with precious metals wholesaler A-Mark on custodian lists, sometimes shown as CNT Depository. Our research found no published IRA storage rates for it, so we cannot give you numbers. If your dealer or custodian suggests it, ask for the annual rate (flat or per $1,000), the minimum, whether storage is commingled or segregated, and who insures the metal.

Custodian-bundled storage

Some custodians quote storage themselves as a flat fee. As reported in October 2026:

Ask which depository the bundled fee covers and whether it changes at higher balances.

Storage is priced in two ways. Flat pricing charges the same dollar amount whatever your metal is worth. Percentage pricing (often written as "$X per $1,000" or in basis points) charges more as your metal's value rises. Which is cheaper depends on how much you hold.

Commingled / non-segregated storage - annual cost

How we did the math: for "per $1,000" rates, divide the account value by 1,000 and multiply by the rate, then apply any minimum. For example, Delaware at $250,000: 250 x $0.80 = $200 (above the $95 minimum). At $50,000: 50 x $0.80 = $40, which is below the minimum, so you pay $95. Brink's at $500,000: 500 x $1.50 = $750.

Segregated storage - annual cost

We assume IDS's $200 rate applies at exactly $500,000; confirm where the cut-off falls. Brink's form gave one rate for all metals and did not separate segregated storage.

Where percentage pricing overtakes flat pricing

The crossover point is simple to find: divide the flat fee by the percentage rate. Here are the key ones:

One more useful number: the Delaware election-form rate only rises above its $95 minimum once your metal is worth more than $118,750 ($95 / $0.80 x $1,000). Below that, everyone pays $95.

What this means for you

• Under about $75,000: percentage pricing (like Brink's) can be the cheapest option.
• $75,000 to about $140,000: flat bundled fees and Delaware's percentage rate (with its minimum) are close; differences are tens of dollars a year.
• Above about $150,000: flat pricing wins clearly. At $500,000, Equity Trust's bundled $110 is $640 a year less than Brink's $750, and $290 less than Delaware's $400.
• Rising gold raises percentage storage automatically. Gold rose about 65% in 2025. A Brink's account worth $100,000 at the start of that year would have paid roughly $150 in storage; at $165,000 it would pay about $248 (165 x $1.50 = $247.50).

Remember that these are storage figures alone. Add the custodian's annual fee (see the master table) to get the full yearly bill.

When you open a gold IRA you will be asked to choose between two kinds of storage.

The real difference

For standard bullion coins and bars, commingled storage still means you own specific quantities of specific products. If you own 20 American Gold Eagles, you are entitled to 20 American Gold Eagles of the same type. Because bullion coins of the same type are interchangeable, getting back "a" Gold Eagle instead of "your" Gold Eagle makes no difference to its value.

Segregation matters more when:

• You hold bars with serial numbers and want those exact bars back.
• You hold items where individual condition matters, though most of those (such as rare or graded coins) generally should not be in an IRA in the first place - see our guide to IRS-eligible metals.
• You want extra peace of mind about the depository's record-keeping.

The cost of segregation over ten years

So is segregated worth it?

For most people holding common bullion coins, commingled storage is usually enough: you own a specific quantity of specific products, and the cheaper rate saves $500-$2,000 over a decade in our examples. Segregated storage can make sense if you hold serial-numbered bars, if you plan to take your metal out in kind and want the exact pieces back, or if the extra $50-$100 a year buys you peace of mind you value. It is a personal choice, not a requirement.

Be wary if a salesperson presents segregated storage as essential for "safety" while pushing it hard. Both options are held in the same insured vault. Ask the depository or custodian to explain in writing how your ownership is recorded under each option.

Insurance and audits are the two things that protect your metal while it sits in the vault. They are also the two things gold IRA marketing describes most vaguely. "Fully insured" and "audited" sound reassuring, but they can mean very different things.

Insurance: what it does and does not cover

Depositories typically carry insurance against physical loss of the metal - such as theft, damage or loss in the vault. Insurance does not protect you against:

• A fall in the price of gold (gold fell about 29% from January to June 2026).
• Paying too much for the metal in the first place.
• A dealer that fails before it delivers metal you have already paid for.

We did not find published insurance details for any depository in our research, so we cannot tell you who insures each vault or for how much. Ask.

Questions to ask about insurance

1. Who is the insurer, and is the policy written for the full value of all metal stored, or capped?
2. Does the insurance cover metal in transit from the dealer to the vault, and from the vault to another vault or to me?
3. Is my metal covered at its full current market value, or at the price I paid?
4. If there is a loss, who makes the claim - me, the custodian or the depository - and how long does it take?
5. Can you send me a certificate of insurance or a written summary?

Audits: what to ask

An audit checks that the metal on the depository's books is actually in the vault. Ask:

1. How often is the vault physically counted, and by whom - an independent accounting firm or internal staff?
2. Does the custodian reconcile its records with the depository's records, and how often?
3. Will my statement list my holdings by product and quantity (for example, "20 x 1 oz American Gold Eagle"), not just a dollar value?
4. For segregated storage, can you confirm bar serial numbers in writing?
5. Is the custodian itself audited, and by whom? (For IRS-approved non-bank trustees, annual audits are part of the approval requirements.)

Check your own statement

The simplest audit is your own. When your quarterly or annual statement arrives:

• Check that the products and quantities match your purchase confirmation.
• Check that the depository named is the one you chose.
• Check that storage type (commingled or segregated) matches what you are paying for.
• If anything is off, raise it in writing with the custodian straight away.

Watch out for any arrangement where you cannot get a statement from an independent custodian, or where the dealer says it will "hold" the metal for you. That is one of the patterns in the gold IRA scam cases regulators have brought.

Readers often ask which custodian and depository each gold IRA company uses. Here is what our research found as of October 2026. Some of these pairings are background knowledge we could not confirm from a primary source; we say so where that applies. Companies can and do change custodians, so ask the company before you open an account.

A puzzle worth asking about

Third-party reviews report Augusta's custodian fee as about $100 a year and Goldco's annual fee as about $100-$125. But if those accounts are held at Equity Trust, the custodian's own published schedule shows $425 a year at $50,000-$99,999 and $500 at $100,000-$199,999. We do not know why the figures differ. Possible explanations include special pricing negotiated by the dealer, fee waivers (Goldco advertises up to three years of fee waivers for eligible accounts; one source says Augusta offers waivers of "up to 10 years", disclosed only on a call), or simply outdated review data.

The fix is easy: ask the dealer which custodian it will use and for that custodian's fee schedule for your account size. Then ask whether any waiver is in writing, how long it lasts, and what you will pay when it ends.

What the companies report on fees

For more on each company, see our ranking methodology, our gold IRA company rankings, and our head-to-head Augusta vs Goldco comparison.

Usually yes - but the dealer has to agree to work with it. The IRA belongs to you, and you sign the custodian's account application, so legally the choice is yours. In practice, a dealer can only sell to your IRA if it can work with your custodian: the custodian must be willing to pay that dealer, and the dealer must be set up to ship metal to the custodian's depository.

Why dealers prefer their partner custodian

• Speed and familiarity. Their staff know the forms and the people.
• Fewer mistakes. Wrong forms or missing signatures delay purchases.
• Business relationships. Some dealers may have arrangements with custodians. Ask whether the dealer receives anything from the custodian for referrals.

None of this is wrong in itself. But it means the "default" custodian is the dealer's convenience, not necessarily your best price.

How to ask

Before you sign anything, say: "I would like to use [custodian name]. Can you work with them? If not, why not?" A good dealer will either agree, or explain clearly why not (for example, the custodian does not accept that dealer or does not use the depository the dealer ships to).

If a dealer refuses outright, insists that only its custodian is "approved", or says you will lose a promotion if you use another custodian, weigh that carefully. A promotion worth a few hundred dollars can be wiped out by higher annual fees over ten years - see our 10-year comparison.

Can you choose your own depository?

Usually you choose from the list of depositories your custodian works with. Most custodians offer more than one (for example, Delaware Depository and Brink's). You cannot choose a depository your custodian does not work with, and you cannot choose your own home or bank safe deposit box - see can you store IRA gold at home?

Order of operations

1. Shortlist two or three dealers using our guide on how to choose a gold IRA company.
2. Ask each dealer which custodians and depositories it works with.
3. Get each custodian's current fee schedule and compare using the tables in this guide.
4. Pick the dealer-custodian-depository combination with the lowest total cost including the dealer's markup, which our fees guide explains.
5. Open the custodian account first, then fund it by direct transfer (see our gold IRA rollover guide), then place your order through the dealer.

If you already have a gold IRA and your custodian has become expensive - for example, because rising gold pushed you into a higher fee tier - you can move to another custodian. It is done by a trustee-to-trustee transfer, which is not taxed and has no limit on how often you can do it. (The once-per-12-months limit applies only to 60-day rollovers where the money passes through your hands; see IRS Pub 590-A and our gold IRA rules guide.)

Two ways to move: in kind or in cash

Step by step

1. Open the new account first. Apply with the new custodian and choose a depository. If possible, choose a depository the old custodian also uses - then the metal may not need to move physically.
2. Sign the new custodian's transfer request form. List each item to move in kind (product and quantity, and bar serial numbers for segregated storage).
3. The new custodian contacts the old one. You do not need to request a check, and you should not.
4. The old custodian releases the metal and closes the account, charging any termination and transfer fees.
5. Check your first statement from the new custodian against your old statement. Every item should match.

Transfers often take a few weeks, and more if metal has to be shipped between vaults. Ask both custodians for a time estimate.

What it might cost to leave - an example

Leaving Equity Trust with metal moved in kind, using its published schedule: $250 full termination + $50 in-kind transfer = $300, plus any shipping (at cost + $10, $50 minimum, if metal is shipped). Add the new custodian's setup fee, typically $30-$50 in this guide.

Is it worth it? Take a $100,000 account. At Equity Trust, annual fee plus storage is $610. At GoldStar, using its reported fees, it would be $215. The saving is $395 a year. If switching costs about $350 ($300 to leave + $50 to open), you would recover it in about 11 months ($350 / $395 x 12). After that, in our illustration, you would save about $395 a year - if the reported GoldStar fees are confirmed for your account.

Other reported exit fees: Madison Trust $225 termination; Kingdom Trust $300 (or $100 per asset per its FAQ); Preferred Trust $200 for an in-kind distribution; uDirect $75 in-kind. Always ask for the exit cost in writing before you start.

Most custodians are legitimate, regulated businesses. But gold IRA scams often involve a confusing custodian arrangement. Watch for these warning signs:

• Nobody can tell you how the custodian is qualified. A real custodian can say whether it is a bank, a state-chartered trust company or an IRS-approved non-bank trustee, and name its regulator.
• The dealer calls itself "IRS-approved". The IRS approves non-bank trustees, not dealers.
• The dealer or someone else offers to hold your metal at home or in an "IRA LLC" you control. In McNulty v. Commissioner (2021), the Tax Court treated home storage through an IRA LLC as a taxable distribution, with penalties. See can you store IRA gold at home?
• You are told to send money to the dealer, not the custodian. In a gold IRA, the custodian pays the dealer from your IRA. If you are asked to write a personal check or wire to a dealer, stop and ask why.
• You cannot get the custodian's own fee schedule, only the dealer's summary.
• Your statement shows only a dollar value, with no list of products and quantities.
• Fees or waivers are only explained on the phone and never confirmed in writing.
• Pressure to move fast - "this price is only good today", "the custodian is closing new accounts".
• Proof or "rare" coins pushed into your IRA. These often carry much higher markups, and most collectible coins are not allowed in an IRA. The Red Rock Secured case involved markups of up to 130%, according to the SEC. See our gold IRA scams and red flags guide.
• The custodian name changes on your paperwork or does not match what you checked. Make sure you know exactly which legal entity holds your account.

If you see two or more of these, pause and talk to a fee-only adviser or your state securities regulator before sending any money.

Use this script when you call a custodian, or send it by email so you get the answers in writing. You can also give it to your dealer and ask them to get the answers from their partner custodian.

About the custodian

1. "What is your full legal name, and how are you qualified to act as an IRA custodian - bank, state-chartered trust company, or IRS-approved non-bank trustee?"
2. "Who regulates you, and when were you last examined or audited?"
3. "Is my account held by you, or by an affiliate? If an affiliate, what is its name?"

About fees

4. "Please send me your current fee schedule for a precious metals IRA. What is the revision date?"
5. "Is your annual fee flat, tiered by value, or per asset? If tiered, what value do you use and on what date? If per asset, how do you count assets?"
6. "What will I pay in year one, and each year after, for a [$ amount] account with [commingled/segregated] storage at [depository]?"
7. "What do you charge per purchase, per sale, per wire, and for an in-kind distribution?"
8. "What will it cost to close my account or transfer it to another custodian, in kind and in cash?"
9. "Are any fees being waived for me? Please confirm in writing how long, and what I will pay after."

About storage

10. "Which depositories can I use? What is each one's rate - flat or per $1,000 - and is there a minimum?"
11. "Is the storage commingled or segregated, and how is my ownership recorded?"
12. "Who insures the metal, for how much, and does the insurance cover shipping?"
13. "How often is the vault audited, and by whom?"

About your dealer

14. "Do you work with [dealer name]? Do you receive any payment from them, or pay them anything, for referrals?"
15. "Will my statements list each product and quantity?"

Write down who you spoke to and when. If an answer is vague, ask for it by email.

Before you sign a custodian application, tick off each item:

• I know the custodian's full legal name and how it is qualified (bank, trust company or IRS-approved non-bank trustee), and I have checked it on the IRS non-bank trustee list or with the state regulator.
• I have the custodian's own current fee schedule, with a revision date.
• I know whether the annual fee is flat, tiered or per asset, and what I will pay at my balance - and at a higher balance if gold rises.
• I know the depository, its rate (flat or per $1,000), the minimum, and whether storage is commingled or segregated.
• I have worked out my 10-year custodian and storage cost, and compared it with at least one other custodian.
• I know the cost to sell, to take an in-kind distribution, and to close or transfer the account.
• Any fee waiver is in writing, with an end date.
• I know who insures the metal and how often the vault is audited.
• I am moving money by direct transfer, not by a check paid to me.
• My dealer has given me a written quote with the markup over spot (see our gold IRA fees guide).
• I have checked that the metals I am buying are IRA-eligible (see our IRS-eligible metals guide).
• I understand how RMDs and distributions will work (see our taxes and RMDs guide).

Yes. Every IRA, including a gold IRA, must be held by a qualified trustee or custodian - a bank, a qualifying trust company or an IRS-approved non-bank trustee. You cannot hold IRA gold yourself, and a dealer cannot act as your custodian unless it is itself qualified. The custodian must also hold the metal through an approved depository; keeping it at home can make it a taxable distribution. See IRS Pub 590-A and our gold IRA rules guide.

Based on the reported figures we found in October 2026, GoldStar Trust had the lowest annual fee ($90 plus $125 commingled storage, about $215 a year) among the custodians we could fully model, followed by STRATA Trust ($150 plus $115 storage, $265 a year, plus trade fees). Kingdom Trust reportedly charges no annual account fee, but that figure is low-confidence. For small accounts under $15,000, Equity Trust's published $225 tier is competitive.

But "cheapest" depends on your balance, how often you trade, and how you plan to take money out. Both GoldStar and STRATA figures come from third-party sites and STRATA's changed in September 2026, so confirm current fees directly. And remember the custodian is rarely your biggest cost - the dealer's markup usually is. Use our gold IRA fee calculator to compare total costs.

Usually, from the custodian's list. Most custodians work with several depositories - often Delaware Depository and Brink's, and sometimes IDS or the Texas Bullion Depository - and you choose one on the account application. You cannot choose a depository your custodian does not work with, and you cannot use your home or a personal safe deposit box. Rates differ: Brink's is reported at $1.50 per $1,000 a year, while Delaware is reported at $0.80-$1.00 per $1,000 with a $95-$125 minimum, so the choice can change your bill. Ask your custodian for each option's current rate.

Depositories used for IRAs generally carry insurance against physical loss of the metal in their care, but the details - insurer, limits, and whether shipping is covered - vary, and we did not find published details in our research. Insurance does not protect you from a fall in gold's price or from overpaying a dealer. Ask the custodian or depository for a written summary of coverage and whether it covers your metal at full market value. See our insurance and audit questions.

Policies vary by depository, and many do not offer routine visits for IRA customers. Because the metal belongs to your IRA and is held by the custodian, any visit would normally have to be arranged through the custodian and the depository in advance, and may not be offered at all. If seeing your metal matters to you, ask before you open the account. What you can always do is check your statement, which should list each product and quantity, and ask the custodian for confirmation of your holdings at any time.

IRA assets held by a custodian are held for your benefit and are generally kept separate from the custodian's own assets. If a custodian fails or exits the business, its regulator would normally oversee moving accounts to a successor custodian, and your metal - which sits at a separate depository, recorded in your IRA's name - should be transferred, not used to pay the custodian's debts. The details depend on the custodian's charter and the regulator involved. This is one reason to choose a custodian whose legal status and regulator you have confirmed, to keep your own records of what you own, and to check that your statements list your holdings by product and quantity.

The custodian and depository charge most of the yearly fees you will pay for as long as you own a gold IRA. Here is what matters most:

1. Know who does what. The dealer sells the metal; the custodian holds the IRA; the depository stores the metal. The IRS approves non-bank trustees, never dealers.
2. Know your pricing model. Flat fees (STRATA, GoldStar, New Direction) get cheaper as a percentage as your account grows. Tiered fees (Equity Trust) rise with your balance - from $425 at $50,000 to $500 at $100,000 and $700 at $250,000 a year under the published schedule. Per-asset fees (Madison Trust) depend on how assets are counted.
3. Run the 10-year numbers. At $100,000, our illustration ranges from about $2,200 to $6,560 in custodian and storage fees over ten years - a gap of $4,360.
4. Check storage pricing. Percentage storage (Brink's, Delaware) can be cheapest under about $75,000 and costs more than a flat $110-$125 above about $73,000-$156,000, depending on the rate.
5. Commingled storage is usually enough for common bullion; segregated adds about $50-$100 a year at flat-fee custodians.
6. You can usually choose, and you can switch later by trustee-to-trustee transfer - but know the exit fees.
7. Get everything in writing, from the custodian itself, with a revision date. Most figures in this guide are reported by third parties, and fees change.

Custodian fees are important, but they are usually smaller than the dealer's markup on the metal. Read our gold IRA fees guide for the full picture, use the fee calculator to run your own numbers, and see our rollover guide for how to move money safely. If you are considering silver too, our silver IRA guide covers the differences.

When you are ready to compare companies, start with our gold IRA company rankings and how we rank, then read the reviews of Augusta Precious Metals, Goldco, American Hartford Gold and American Gold and Silver Group. Ask each one which custodian and depository it will use, and get that custodian's fee schedule before you sign.

Finally, a gold IRA pays no interest or dividends, has real ongoing costs, and gold can fall sharply - about 29% between January and June 2026. A fee-only financial adviser or tax professional who does not sell metals can help you decide how much, if any, belongs in your retirement plan.

This article is general information, not financial, tax or legal advice. Fees, minimums and promotions change often and vary by custodian and account size - confirm current terms in writing with the company and your custodian before you invest.