How to Choose a Gold IRA Company
Affiliate disclosure: we may earn a commission when a reader opens an account through links on this page. The commission has no effect on what you pay or on what we publish. We are not a financial or tax advisor; consult a licensed advisor for your situation. Last reviewed June 2026.
Short on time? The essentials
- A gold IRA company is really a dealer that pairs your account with a self-directed IRA custodian and an IRS-approved depository.
- Three hard gates are non-negotiable: legal custodian (IRC 408(a)(2)), IRS-approved depository, IRC 408(m)(3) fineness on the metal.
- Five practical criteria decide the rest: written fee stack, dealer markup, buyback policy, BBB record, and how the sales team answers a hard question.
- Ask for the fee schedule and the markup on the exact products in writing before you sign anything. A refusal is itself an answer.
- Red flags include premium or proof coin upsells, home-storage pitches, high-pressure calls, free silver bait, and vague buyback terms.
- Texans have two extra checks: coverage of the Texas Bullion Depository as a storage option and honest treatment of the no state income tax point.
- Under IRC 408(m)(3), IRA gold must be at least 99.5 percent pure, with the American Gold Eagle allowed by statute at 91.67 percent.
- Home storage of IRA metal is not allowed. The 2021 McNulty v. Commissioner ruling treated it as a full taxable distribution.
On this page
- What a gold IRA company actually is
- The three hard gates that disqualify a company
- The eight criteria that separate a real firm from a marketing shop
- Step by step: how to actually vet a gold IRA company
- The fee stack you should ask for in writing
- Typical annual fee ranges you should expect
- Estimate the fee drag on your balance
- The seven red flags that should end the conversation
- Two Texas checks to add on top
- Worked example: a Dallas retiree comparing three companies
- When picking any gold IRA company is a bad idea
- Frequently asked questions
What a gold IRA company actually is
Most firms marketed as a gold IRA company are precious metals dealers. They sell you the coins or bars. Two other parties are involved: a self-directed IRA custodian that legally holds the account, and an IRS-approved depository that stores the metal.
Under IRC Section 408(a)(2), only a bank, a federally insured credit union, a state-chartered trust company, or an IRS-approved non-bank trustee can serve as an IRA custodian. The dealer is not the custodian. The dealer partners with one or more custodians and directs you to one when you open the account.
Getting this clear before you start matters. Your paperwork, your fees, and your legal recourse split across three parties, not one. When you compare companies, you are really comparing the dealer, the custodian they route to, and the depository they use.
The three hard gates that disqualify a company
These three items are pass or fail. If a company cannot document all three, close the conversation and move on.
Gate 1: legal custodian
The custodian must qualify under IRC 408(a)(2): a bank, a federally insured credit union, a state-chartered trust company, or an IRS-approved non-bank trustee governed by Treasury Regulation 1.408-2(e).
Ask for the custodian name and confirm on the IRS list of approved non-bank trustees or on the state trust regulator's site.
Gate 2: IRS-approved depository
IRA metal must sit with a bank or an IRS-approved non-bank trustee, per Treasury Regulation 1.408-2(e). Common approved depositories used for IRA metal include Delaware Depository, Brinks Global Services, International Depository Services, and the Texas Bullion Depository through its operator Lone Star Tangible Assets.
Home storage is not allowed. The 2021 McNulty v. Commissioner ruling treated home-stored IRA metal as a full taxable distribution.
Gate 3: IRC 408(m)(3) fineness
Gold must be at least 99.5 percent pure. Silver 99.9 percent. Platinum and palladium 99.95 percent. The American Gold Eagle is allowed by statute even at 91.67 percent purity, and the Silver Eagle qualifies the same way.
Rare coins, graded numismatic coins, pre-1965 junk silver, and the South African Krugerrand are not eligible under this rule.
The eight criteria that separate a real firm from a marketing shop
Once the three gates are cleared, rank companies on the eight items below. Each one has a written test attached. A firm that will not put an answer in writing is telling you what it is.
| Criterion | What good looks like | Written test |
|---|---|---|
| Written fee schedule | Setup, annual custodian, and annual storage fees stated as flat dollar amounts or tiered by balance | Request the fee sheet as a PDF, with the custodian's letterhead and an issue date |
| Dealer markup on specific products | Spread over spot price disclosed on the exact coins or bars you plan to buy | Ask for spot reference and total invoice price in writing, on the specific SKUs |
| Buyback policy | Written commitment to buy the same metal back, with a stated spread rule | Ask for the buyback terms in writing before you fund the account |
| Custodian and depository named | Clear identification of both, with contact information | Ask which custodian and which depository they use, and confirm both are IRS-eligible |
| BBB record | Active Better Business Bureau profile with a clear rating and complaint pattern review | Verify at bbb.org before signing; note the age of the business and complaint volume |
| Product mix | Common IRA-eligible bullion coins and bars, not just proof or premium coins | Ask for a menu that includes common American Eagles or Canadian Maples and 1 ounce bars |
| Sales team behavior | Answers a hard question without pressure, urgency, or scare framing | Ask why premium coins would ever fit an IRA and listen to how the answer is framed |
| Educational materials | Written materials that reference IRS rules, IRC sections, and the depository chain | Ask for their information kit and check whether it cites public sources |
Framework derived from IRS Publication 590-A, IRC Sections 408(a)(2) and 408(m)(3), Treasury Regulation 1.408-2(e), the CFTC Fraud Advisory on Precious Metals, and the FINRA Investor Alert on precious metals fraud. Checked June 2026.
Step by step: how to actually vet a gold IRA company
The steps below run in order. Each one produces a document or a written answer that becomes part of your record. If a step stalls, that is data too.
- Confirm the custodian. Ask the company which self-directed IRA custodian it routes to. Look the custodian up on the IRS list of approved non-bank trustees or on the state trust regulator's site. If the custodian is unnamed, unlisted, or refuses to confirm, stop.
- Confirm the depository. Ask which IRS-approved depository will hold your metal. Common options are Delaware Depository, Brinks Global Services, International Depository Services, and the Texas Bullion Depository through Lone Star Tangible Assets. Verify the depository directly on its own site.
- Request the written fee schedule. Ask for setup, annual custodian, storage, wire, and buyback fees on the custodian's letterhead, dated. A verbal quote is not a fee schedule.
- Get the dealer markup on your exact products. Name the specific coins or bars you plan to buy. Ask for the spot reference and the total invoice price on those exact items, in writing. Compare markups across two or three dealers before ordering.
- Read the buyback policy. Ask for the written buyback terms. Confirm the same metal is bought back, note the spread rule, and check whether the buyback is guaranteed or discretionary.
- Check the BBB record. Look the dealer up at bbb.org. Note the current rating, the age of the business, the complaint volume, and how complaints were resolved. Skim complaints for the same pattern repeating.
- Test the sales team with a hard question. Ask why premium or proof coins would ever fit an IRA. A steady factual answer earns points. Any push toward premium coins as a superior IRA product is a red flag, not a sales tactic.
- Confirm the depository chain for Texas metal if you live in Texas. If Texas Bullion Depository storage matters to you, ask which custodian the company uses that partners with Lone Star Tangible Assets. As of June 2026 the depository names Equity Trust Company as the first custodian to work with it under the IRS non-bank trustee framework.
The fee stack you should ask for in writing
Every gold IRA carries the same five recurring or per-event fees, plus a dealer markup baked into the metal price. When you compare companies, the comparison is really a comparison of these numbers.
| Fee | What it covers | How it is usually charged |
|---|---|---|
| Account setup | Opening the self-directed IRA at the custodian | One-time fee at account open, often 50 to 100 dollars |
| Annual custodian fee | Recordkeeping, tax reporting, statements | Flat annual fee 75 to 300 dollars, or tiered by balance |
| Annual storage fee | Depository vault, insurance, audits | Flat 100 to 250 dollars for commingled, 175 to 400 dollars for segregated |
| Dealer markup on metal | Spread between spot price and the price you pay | Embedded in the metal price; ask for it to be itemized |
| Wire and shipping fees | Funding wires, dealer-to-depository shipping | Per-event flat fee, usually 25 to 50 dollars each |
| Buyback spread | Gap between the dealer's buy price and current spot | Only applies when you sell metal back |
Sourced from public fee schedules at Equity Trust Company, STRATA Trust Company, GoldStar Trust Company, and Delaware Depository. Confirm current pricing directly with each provider. Checked June 2026.
Typical annual fee ranges you should expect
Before you talk to any company, put the typical annual dollar ranges in front of you. A firm quoting well above the top of the range should justify the difference with an audit trail, a security tier, or a specific service. A firm quoting well below the bottom should be checked twice for hidden fees.
The chart is a screening tool, not a benchmark. Two companies with identical fee stacks can still differ meaningfully on dealer markup, buyback policy, and BBB record. The next section turns the stack into a dollar drag on your own balance.
Estimate the fee drag on your balance
The calculator below estimates the annual fee drag for a given balance and time horizon. Run each candidate company's fee stack through it. If one company's drag is well above the others, ask why before you decide.
Texas gold IRA fee-drag calculator
Texas gold IRAs charge mostly flat dollar fees (setup, annual custodian, storage). Flat fees take a much bigger bite out of a small account than a large one. Enter your numbers to see the drag.
Estimate only. Fee amounts vary by provider and are often not published; enter figures you confirm in writing. This tool ignores metal price changes and the dealer spread, which also affect returns. Not financial advice.
Picking a company that explains every fee up front is the first step. Get the free gold IRA company checklist.
The seven red flags that should end the conversation
Each item below is a specific pattern the CFTC, the FINRA Investor Education Foundation, and multiple state securities regulators have flagged in enforcement actions against precious metals dealers. If any one shows up, treat it as a signal, not a pitch.
Push toward premium or proof coins for an IRA. Premium coins carry wider markups than common bullion. A pitch that frames them as an IRA superior product is a compensation-driven pitch, not a fit for the account.
Home storage IRA pitch. The IRS requires IRA metal to sit at an approved depository. The 2021 McNulty v. Commissioner ruling treated a home-stored IRA as a full taxable distribution. Any home storage promise is disqualifying.
Urgency and scare tactics. Time-limited pressure, calls warning about imminent policy changes, or predictions of a market crash are patterns the CFTC Fraud Advisory on Precious Metals calls out by name.
Free silver promotions on a rollover. Free metal offers are almost always paid for through a wider markup on the primary purchase. Ask the total invoice price with and without the promotion.
Vague fee schedule. Refusal to send a written custodian and depository fee sheet before you fund. Verbal quotes drift once the wire lands.
Unclear buyback terms. No written buyback policy, or a policy that is discretionary rather than committed. Liquidity risk lives here.
No verifiable BBB record. A very new business, or a company with an alphabet soup of similar names, is a due diligence problem. Note the founding year and confirm the current name on bbb.org.
Two Texas checks to add on top
Texas gives a resident two facts that change the choice. Neither is a marketing claim. Both are in law or on state agency pages.
Texas Bullion Depository as a storage option
The Texas Bullion Depository is an agency of the State of Texas, authorized by House Bill 483 of the 84th Legislature and signed by Governor Greg Abbott on June 12, 2015. It began operations in 2017. The facility sits on a roughly 10-acre, purpose-built campus in Leander, north of Austin.
The IRS requires IRA metal to be held by a bank or an IRS-approved non-bank trustee. The depository's operator, Lone Star Tangible Assets, received IRS approval as a non-bank trustee in 2023. That opened the door for the depository to hold IRA metal directly through its operator.
The depository names Equity Trust Company as the first self-directed IRA custodian to work with it under the new framework, and says it will expand custodial relationships over time. If Texas storage matters to you, ask each gold IRA company whether their custodian coordinates with Lone Star Tangible Assets. Source: texasbulliondepository.gov IRA Storage Services page, checked June 2026.
No state personal income tax
Article 8, Section 24 of the Texas Constitution prohibits a state personal income tax. Any taxable IRA distribution, whether a required minimum distribution at age 73 or 75, an early withdrawal before age 59 and a half, or a Roth conversion, is taxed by the IRS only. There is no Texas state layer stacked on top.
A company that markets a gold IRA to Texas retirees should treat this fact plainly and not as a savings claim. If their materials imply that a Texas resident saves state income tax by choosing them specifically, note the framing. The state benefit exists independent of any provider you pick.
Worked example: a Dallas retiree comparing three companies
When picking any gold IRA company is a bad idea
Choosing a gold IRA company assumes a gold IRA fits your situation. It does not always fit. We list the patterns where the fee math or the account plumbing works against the reader, with no call to action attached.
Balance under 25,000 dollars. A flat 350 dollar annual fee stack takes 1.4 percent off a 25,000 dollar account before any dealer markup. Below that balance the drag climbs sharply. A brokerage IRA holding a low-cost gold ETF is usually cheaper for this size.
Liquidity need inside five years. Selling gold in an IRA takes days, not seconds. A forced sale in a soft market compounds the buyback spread. If you may need the money soon, the account structure works against you.
You want the metal in your hand. An IRA cannot hold metal at home. If direct physical custody matters more than the tax wrapper, a cash purchase from a Texas coin dealer is a different product with different tax treatment.
You need income from the account. Gold pays no dividend, no interest, and no coupon. A metal-only account is not the tool for a retirement plan that needs cash flow.
The best available company still fails a hard gate. If none of the shortlisted companies can document the custodian, the depository, and the fineness, the answer is not to lower your bar. The answer is to walk away and revisit.
Frequently asked questions
What should I look for in a gold IRA company?
Three hard gates first: a legal IRS-eligible custodian under IRC 408(a)(2), an IRS-approved depository under Treasury Regulation 1.408-2(e), and metals that meet the IRC 408(m)(3) fineness rules. Then eight practical criteria: written fee schedule, dealer markup on your exact products, buyback policy, named custodian and depository, BBB record, product mix, sales team behavior, and educational materials.
How do I verify a gold IRA custodian is legitimate?
Ask the company for the custodian name and confirm it against the IRS list of approved non-bank trustees, the state trust regulator's site for state-chartered trust companies, or the federal regulator for banks and credit unions. A custodian that cannot be verified in a public regulator database is disqualified.
What questions should I ask a gold IRA salesperson?
Five questions produce the most signal:
- Which custodian and which depository do you use.
- May I have the fee schedule and buyback policy in writing.
- What is the spot reference and total invoice price on the exact coins or bars I plan to buy.
- Why would premium or proof coins ever fit an IRA.
- How does your company handle a customer who wants to sell metal back in six months.
Note whether answers arrive in writing, and how the sales team handles the harder items.
What is a red flag when choosing a gold IRA company?
Six patterns matter most. A push toward premium or proof coins as an IRA superior product. A home storage pitch. A refusal to send a written fee schedule. An urgency framing or a prediction of a market crash. A vague or discretionary buyback policy. An inability to name the specific IRS-approved custodian and depository. Each pattern appears in enforcement actions collected by the CFTC and FINRA.
Can I use the Texas Bullion Depository through any gold IRA company?
Only through a custodian that has coordinated the setup with Lone Star Tangible Assets, the depository operator. As of June 2026 the depository names Equity Trust Company as the first self-directed IRA custodian to work with it under the IRS non-bank trustee framework and says it will expand its custodial relationships over time. Ask each company you consider whether their custodian is Equity Trust or another partner of Lone Star Tangible Assets.
How much does a gold IRA cost per year at a good company?
Typical annual fees run 175 to 550 dollars, split between the custodian and the depository. Setup is usually 50 to 100 dollars one time. Dealer markup on the metal is separate and depends on the products you choose. Common bullion coins and 1 ounce bars carry tighter markups than premium or proof coins.
Is Augusta Precious Metals a good gold IRA company?
Augusta Precious Metals is one of the larger dealers in the space and typical of the market's higher-end account tier. Whether it fits you depends on your balance, your product mix preference, your priorities on custodian and depository, and your comfort with its onboarding process. The vetting steps in this guide apply the same way to Augusta as to any other company. Ask the same questions, request the same documents, and compare.
If you want a written reference to work from
Augusta Precious Metals publishes a free company checklist that walks through the vetting steps, fees, and depository choices in one document. Reading it alongside the framework on this page is a low-friction way to compare their process with the criteria we recommend applying to any company you contact.
Request the Augusta company checklist. This is a sponsored link; the vetting criteria on this page apply the same way to Augusta as to any other firm.
Sources
- Internal Revenue Service. Publication 590-A: Contributions to Individual Retirement Arrangements (IRAs). irs.gov/publications/p590a. Checked June 2026.
- Internal Revenue Service. Publication 590-B: Distributions from Individual Retirement Arrangements (IRAs). irs.gov/publications/p590b. Checked June 2026.
- Internal Revenue Code Section 408(a). Individual retirement account trustee eligibility. Office of the Law Revision Counsel. uscode.house.gov. Checked June 2026.
- Internal Revenue Code Section 408(m). Collectibles rule and bullion exception. Office of the Law Revision Counsel. uscode.house.gov. Checked June 2026.
- Treasury Regulation 1.408-2(e). Non-bank trustee approval process. Electronic Code of Federal Regulations. ecfr.gov. Checked June 2026.
- Internal Revenue Service. Approved Nonbank Trustees and Custodians list. irs.gov approved nonbank trustees list. Checked June 2026.
- Commodity Futures Trading Commission. Fraud Advisory on Precious Metals. cftc.gov. Checked June 2026.
- Financial Industry Regulatory Authority. Precious Metals Investor Alert. finra.org. Checked June 2026.
- Texas Bullion Depository. IRA Storage Services. texasbulliondepository.gov/ira-storage. Checked June 2026.
- Texas Legislature. House Bill 483, 84th Regular Session (2015), Texas Bullion Depository Act. capitol.texas.gov. Checked June 2026.
- Texas Constitution, Article 8, Section 24. State personal income tax prohibition. statutes.capitol.texas.gov. Checked June 2026.
- United States Tax Court. McNulty v. Commissioner, 157 T.C. No. 10 (November 18, 2021). Home-storage IRA treated as a full taxable distribution.
- Better Business Bureau. Business profile lookup. bbb.org. Checked June 2026.