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Written by Mike Reeves
Mike Reeves is a Gold IRA and precious metals IRA specialist with over 10 years of industry experience, having evaluated dozens of providers across the United States. He has helped hundreds of investors roll over traditional retirement accounts into precious metals IRAs, with a focus on fee transparency, compliant storage, and investor-first guidance.
Last updated: January 2026
Start Here: What it means to “compare quotes” for a Gold IRA
When most people say they’re “getting a quote,” they mean a dealer told them something like: “Gold is up today; we can put you into coins and waive fees.”
That is not a quote.
A true Gold IRA quote is a written, itemized price confirmation that includes:
- Exact products (coin/bar name, weight, mint/refiner, quantity)
- Per-item price and total purchase price
- The spot price reference at the time of the quote
- Your premium/spread (or enough data to calculate it)
- Custodian fees (setup + annual + transaction/wire if applicable)
- Storage/insurance fees (segregated vs non-segregated options)
- Buyback/liquidation terms (how pricing is determined)
Why this matters: regulators warn that fraud and abusive pricing are common in physical precious metals—especially when people roll retirement money into self-directed IRAs (SDIRAs).
Read our full guide on Gold IRA Fees.
Key Takeaways (featured snippet-ready)
- The best way to avoid a bad Gold IRA deal is to compare written, itemized quotes on the same IRA-eligible items.
- SDIRA custodians typically do not evaluate the quality or legitimacy of your investment—your quote discipline is your protection.
- A direct rollover avoids the 20% mandatory withholding that applies when an eligible rollover distribution is paid to you.
- Dealers can “hide” cost in product choice and pricing. Your job is to convert the pitch into math: spot + premium + fees + storage + exit terms.
- The CFTC/FINRA investor bulletin provides a regulator-backed framework of questions to ask before buying physical metals, specifically warning about SDIRA-related scams.
Why comparing quotes is non-negotiable in a rollover
1) SDIRAs can lend false confidence
The SEC and investor.gov warn that self-directed IRA custodians typically:
- do not evaluate the legitimacy of an investment or promoter, and
- do not verify the accuracy of information provided about the investment.
Meaning: “The custodian accepted it” does not mean it’s fairly priced, appropriate, or low-risk.
2) Rollovers create urgency—and urgency creates mistakes
Many buyers are switching from a 401(k) or IRA. Without a structured quote process, it’s easy to sign paperwork and fund before you’ve validated price.
3) “Free metals” and “fee waivers” are frequently pricing camouflage
Promotions can be legitimate—but they can also be funded by higher spreads or higher-premium products. Your defense is to compare all-in cost per ounce on the exact same items.
The Gold IRA quote triangle: Dealer, Custodian, Depository
To compare properly, you must separate the three entities:
- Dealer (“Gold IRA company”): sells the metals and sets the trade pricing
- Custodian: administers the IRA and handles reporting/compliance paperwork
- Depository: stores metals under qualified custody/chain-of-control
Your quote must cover all three.
The #1 rollover quote mistake: indirect rollover withholding
If an eligible rollover distribution is paid to you (instead of going directly to another plan/IRA), the payer generally must withhold 20% for federal income tax.
The IRS explains you can instead choose a direct rollover (payer transfers directly to the eligible retirement plan/IRA), and the 20% mandatory withholding doesn’t apply.
Quote implication: If a dealer pushes you into a process that routes funds through you unnecessarily, you are accepting avoidable friction and potential error risk. A strong provider will coordinate the rollover correctly and explain the difference.
The Compare Quotes Framework (Investor-First, Repeatable)
Step 1: Standardize the “basket” you’re quoting (so comparisons are real)
You cannot compare:
- Dealer A quoting high-premium “special” coins
vs - Dealer B quoting standard bullion
That is not a price comparison—it’s a product-switch.
Use a standardized comparison basket
Choose 2–4 IRA-eligible items that are commonly available. Keep it simple.
Example basket (illustrative only):
- 1 oz IRA-eligible gold bullion coins (X quantity)
- 10 oz silver bars or 1 oz silver coins (X quantity)
- Optional: a small allocation of platinum/palladium bullion
Then demand quotes on the same basket from at least two providers.
Step 2: Require a written, itemized quote (no exceptions)
A “phone quote” is not a quote.
What your quote must include (copy/paste checklist)
Dealer quote (required):
- Exact product name (coin/bar), weight, mint/refiner, quantity
- Spot price reference at time of quote
- Per-item price and total cost
- Any shipping/handling/insurance line items
- Clear statement whether the quote is “locked” and for how long
Custodian + storage costs (required):
- One-time setup fee (if any)
- Annual admin/maintenance fee
- Transaction/wire fees (if any)
- Storage/insurance fee, including cost differences for segregated vs non-segregated
Exit and buyback (required):
- Whether they offer buyback
- How buyback price is determined (spot-based formula, bid/ask, etc.)
- Any liquidation fees or spreads on sale
Regulators explicitly urge investors to ask detailed questions before buying physical metals and particularly before rolling retirement assets into precious-metals IRAs.
Step 3: Calculate your “All-In Cost per Ounce” (the metric that matters)
You want one number that cuts through marketing.
All-in cost (simple formula)
All-In Cost = (Total metal purchase price) + (Year-1 custodian fees) + (Year-1 storage/insurance fees)
Then compute:
- All-in cost per ounce (for gold items)
- All-in cost per ounce (for silver items)
This reveals whether “free silver” is actually free, or whether the pricing is inflated.
Step 4: Identify premium/spread and protect yourself from hidden markups
Even when a quote is “itemized,” the true question is:
How far above spot are you paying?
Two ways to force clarity
- Ask directly:
“What is the premium over spot per item?” - If they dodge, calculate it:
Premium % = (Your per-oz price − Spot price) ÷ Spot price
If they won’t provide spot reference timing, that’s a red flag.
Step 5: Compare apples-to-apples storage (segregated vs non-segregated)
Storage choices change annual costs and sometimes your comfort level.
Your quote should explicitly state:
- Storage type available (segregated vs non-segregated)
- Annual storage/insurance cost for each option
- Depository name
Internal link:
- Storage:
/gold-ira/storage/ - Segregated vs Non-Segregated: (your storage subpage)
Step 6: Stress-test the buyback (you can do this before you buy)
Here is a powerful tactic:
Ask each dealer for:
- A buy quote (what you’ll pay today) and
- A hypothetical sell quote (what they’d pay to buy it back today)
You are testing transparency and realism.
This aligns with regulator guidance to ask how the firm makes money and what costs and fees you will pay.
The Quote Comparison Worksheet
A) Dealer quote table
| Field | Dealer #1 | Dealer #2 | Dealer #3 |
|---|---|---|---|
| Quote date/time | |||
| Spot price reference (gold) | |||
| Product #1 (exact name) | |||
| Qty / weight | |||
| Per-unit price | |||
| Total product cost | |||
| Product #2 (exact name) | |||
| Qty / weight | |||
| Per-unit price | |||
| Total product cost | |||
| Shipping/handling/insurance line items | |||
| Total metal purchase price | |||
| Quote lock duration |
B) Custodian + storage table
| Field | Dealer #1 | Dealer #2 | Dealer #3 |
|---|---|---|---|
| Custodian name | |||
| Setup fee | |||
| Annual admin/maintenance | |||
| Transaction/wire fees | |||
| Depository name | |||
| Storage type options | |||
| Storage + insurance (annual) | |||
| Total Year-1 account costs |
C) Exit/buyback table
| Field | Dealer #1 | Dealer #2 | Dealer #3 |
|---|---|---|---|
| Buyback offered? (Y/N) | |||
| How buyback price is determined | |||
| Typical liquidation timeline | |||
| Any liquidation fees | |||
| Written policy provided? (Y/N) |
The “Compare Quotes” scripts (copy/paste, designed to stop pressure tactics)
The CFTC/FINRA investor bulletin warns about frauds involving physical metals and SDIRAs and encourages asking specific questions before buying.
These scripts force the conversation into documentation and math.
Script 1: The written quote requirement
“Please email me a written, itemized quote listing each coin/bar, quantity, per-unit price, total price, and the spot reference. Include all custodian and storage fees for year one. I’m comparing two providers on the same items.”
Script 2: The premium-over-spot filter
“For each item, what is the premium over spot in dollars and percentage? If you can’t disclose that, I’m not ready to proceed.”
Script 3: The promo disarm
“If there is ‘free silver’ or a fee waiver, show me how the total ounces received compares to the total dollars sent, and the implied price per ounce.”
Script 4: The rollover compliance anchor
“I only want a direct rollover. Please confirm the funds will move custodian-to-custodian so mandatory withholding doesn’t apply.”
(Direct rollovers avoid 20% mandatory withholding that applies when a distribution is paid to you. )
What “good” looks like: a fair quote vs a risky quote
A fair quote usually has:
- clean itemization
- common IRA-eligible products
- transparent fee schedule (custodian + storage)
- clear buyback explanation
- no urgency or fear tactics
A risky quote usually has:
- vague product descriptions (“premium gold coins,” “special protection coins”)
- refusal to provide premium over spot
- “today only” pressure
- attempts to prevent comparison shopping
- confusing claims that imply the custodian vetted the deal (custodians generally do not).
The 7 most common quote comparison traps (and how to avoid each)
Trap #1: “They quoted lower annual fees, so they’re cheaper”
Annual admin/storage fees matter—but the metal price (premium/spread) can be the bigger cost driver. Compare all-in.
Trap #2: Different products disguised as the “same”
If Dealer A quotes standard bullion and Dealer B quotes collectible-style coins, Dealer B is not competing on price—they’re changing the game.
Trap #3: “Free metal” that raises your all-in price
The only promo that matters is the one that reduces your implied price per ounce.
Trap #4: Storage confusion
Make sure your quote states:
- depository
- segregated vs non-segregated pricing
- insurance/storage annual cost
Trap #5: They “lock” the quote only if you fund immediately
That’s engineered urgency. A legitimate business can quote and allow time to compare.
Trap #6: They imply the IRA custodian validates the investment
Regulators warn that self-directed IRA custodians generally do not evaluate investment quality or legitimacy.
Trap #7: Indirect rollover routing
If the plan sends you the distribution, mandatory withholding can apply; IRS guidance explains direct rollover avoids it.
The “Compare Quotes” decision rule (simple and effective)
When you have two written quotes on the same basket, choose the provider that can provide in writing:
- The lowest reasonable all-in cost (not just annual fees)
- The clearest premium/spread disclosure
- The most transparent custodian/storage fee schedule
- Straightforward buyback terms
- A low-pressure experience
This aligns with the regulator emphasis on asking questions, understanding pricing/fees, and recognizing SDIRA-related scam risk.
FAQs (People Also Ask optimized)
How do I compare Gold IRA quotes the right way?
Compare written, itemized quotes on the same IRA-eligible products, then compute your all-in cost (metal price + year-one custodian fees + storage/insurance). This reduces the risk of overpriced products and SDIRA-related scams highlighted by regulators.
What should a Gold IRA quote include?
A proper quote includes the exact coins/bars, quantities, per-item price, spot reference timing, premiums/spreads, custodian fee schedule, storage/insurance costs, and buyback terms.
Why does a direct rollover matter when comparing providers?
Because if a distribution is paid to you, mandatory withholding may apply; the IRS explains a direct rollover transfers funds directly to an eligible retirement plan/IRA and the 20% mandatory withholding doesn’t apply.
Can I trust a quote because the custodian is involved?
Not by itself. Regulators warn SDIRA custodians generally do not evaluate the legitimacy or quality of investments. Your protection is documentation, price transparency, and comparison shopping.
Bottom Line: The “Compare Quotes” rule that protects retirement money
If you do nothing else, do this: get two written, itemized quotes on the same IRA-eligible products, calculate all-in cost, and demand premium-over-spot clarity. Regulators specifically warn about SDIRA-related precious-metals frauds and emphasize asking detailed questions before buying.