Because IRC Section 408(a) requires IRA assets to sit with a qualified trustee or custodian, the custodian you pick matters as much as the metal you buy. Before signing anything, get the full fee schedule in writing — setup fees, annual custodian fees, and storage fees are typically charged separately and vary significantly between companies. Confirm the depository is IRS-approved and ask directly whether storage is segregated (your metal only) or commingled (pooled with other clients’).

It’s also worth checking a company’s complaint history with the Better Business Bureau and searching the FTC’s enforcement actions database — the FTC has pursued several precious metals dealers over the years for deceptive sales practices. A reputable custodian will answer direct questions about fees and storage without pressure tactics; if a company won’t put its fee schedule in writing before you commit, treat that as a red flag.