Pre-Purchase Gold IRA Checklist: 30 Questions Every Investor Should Ask

Q1. What is your current BBB rating, and how many complaints were filed in the past 3 years?

The Better Business Bureau (BBB) maintains a public complaint record with full complaint text and resolution status. An A+ rating with zero unresolved complaints in 3 years is a strong signal. Patterns matter more than the letter grade: repeated billing disputes or non-delivery complaints indicate systemic problems.

Verify independently at bbb.org, not through the company’s own website. Search by the company’s legal name.

Q2. How long have you operated under this specific legal entity, and can I verify your business registration?

Marketing claims about “decades of experience” sometimes refer to founders’ backgrounds, not the company’s own operational history. A company that has managed accounts through at least one major market disruption (5-plus years of operation) has a demonstrable track record. Verify the registration date on your state’s secretary of state website.

Q3. Have any officers, principals, or the company itself faced FINRA, SEC, or CFPB regulatory action?

Precious metals companies that make investment recommendations or handle accounts tied to retirement funds operate in a regulated space. FINRA’s BrokerCheck database is publicly searchable by individual and firm name. SEC enforcement actions appear in the SEC Litigation Releases database. Both are free and require no registration.

Q4. Are you affiliated with any recognized industry associations or U.S. Mint authorized programs?

Membership in the Industry Council for Tangible Assets (ICTA) or status as a U.S. Mint authorized purchaser involves credentialing processes. Neither guarantees a company’s quality, but both indicate it meets established industry operating standards. The U.S. Mint publishes its authorized purchaser list at usmint.gov.

Q5. What is your physical address, and can I verify it independently?

A verifiable street address matters for legal recourse and legitimacy. P.O. boxes, virtual offices, and suite numbers at co-working spaces are insufficient for a company holding retirement accounts. Cross-check the address via Google Maps and the state business registration database.

Q6. Does your contract include a mandatory arbitration clause, and which arbitration body governs?

Mandatory arbitration clauses waive your right to sue in court. Know this before signing. Ask whether disputes are handled by FINRA, the American Arbitration Association, or a company-specific body. The CFPB’s consumer complaint database at consumerfinance.gov is an additional reference for complaint patterns.

Q7. Which specific IRS-approved custodian will hold my self-directed IRA, and how long have they operated?

An IRS-approved custodian is required for all self-directed IRAs under IRC Section 408(a). The custodian handles tax reporting, statements, and required minimum distributions. Common custodians include Equity Trust Company (South Dakota, established 1974), STRATA Trust Company (Austin, TX), and Madison Trust Company. Ask for the specific entity name and verify its IRA custodian license independently.

Q8. Is the custodian independent from your company, or do you have a financial relationship with them?

Custodian independence protects you. When the dealer and custodian share ownership, a common financial interest, or a preferred-partner arrangement, the custodian has less incentive to act in your interests in a dispute. Ask directly and get the answer in writing: “Is the custodian a subsidiary, affiliate, or revenue-sharing partner of your firm?”

Q9. Which IRS-approved depositories do you work with, and what is their insurance coverage?

IRA-held metals must be stored at an IRS-approved depository. These are specialized vaults with full insurance coverage. Established options include Delaware Depository Service Company (Wilmington, DE), Brink’s Global Services (multiple U.S. locations), and International Depository Services (Texas and Delaware). Ask for the specific depository name, insurance carrier, and total coverage limit per account.

Q10. Do you offer segregated storage, and what is the annual cost difference compared to commingled?

Segregated storage means your specific bars and coins are physically separated and catalogued under your account. Commingled means your metals are pooled with other clients’ metals of the same type and weight. The typical cost difference is $25-$100 more per year for segregated. If you ever request an in-kind distribution, segregated storage simplifies the process significantly.

Q11. Can I receive account statements directly from the custodian, independent of your communications?

You should be able to contact the custodian directly and receive statements without the dealer as an intermediary. This is a basic account verification control. If the only way to check your account status is through the dealer’s portal or by calling the dealer, that is a structural problem.

Q12. What is the one-time account setup fee, and is it genuinely waived or rolled into another cost?

Typical range: $0 to $250 (as of May 2026, based on industry-standard custodian schedules). Some companies waive the setup fee as a promotion. The relevant follow-up: is the waiver unconditional, or does it require a minimum investment that is actually above what you planned? Ask for the fee schedule in writing, not as a verbal commitment.

Q13. What is the annual custodian fee, and is it a flat rate or a percentage of account value?

Typical range: $75 to $300 per year for flat-fee custodians (as of May 2026, per industry standard custodian schedules). Percentage-based fees (commonly 0.10-0.50% of assets) look small but compound at scale. On a $200,000 account, a 0.25% custodian fee equals $500 per year, already above the high end of flat-fee schedules. The model that costs less depends on your account size and how it grows.

Q14. What are the annual storage fees for segregated versus commingled storage, and who receives them?

Typical range: $100 to $250 for segregated; $50 to $150 for commingled (as of May 2026, per industry-standard depository fee schedules). Ask who collects the fee: the depository directly, the custodian on behalf of the depository, or the dealer. Each routing arrangement has different transparency implications. Confirm the fee goes to the depository and not an additional markup layer at the dealer.

Q15. What markup do you charge over the current spot price of gold and silver?

The spot price is the live market rate for immediate delivery. Gold currently sits at $4,413.45 per troy ounce and silver at $66.27, updated 3 hours ago. Dealers add a markup (also called a “premium” or “spread”) on top. For standard IRS-eligible bullion bars, 1-5% over spot is typical. Markups of 10-25% mean you start your investment significantly underwater. Ask the representative to quote you a specific product price and calculate the premium yourself using the live spot price at that moment.

Q16. Are there transaction fees on each purchase or sale within the account?

Some custodians charge $25-$50 per transaction. If you plan to build your position over multiple years by adding to the account in stages, these fees compound. Ask for the per-transaction cost and whether it applies to both purchases and sales, or only to one direction.

Q17. What fees apply when I take a distribution or close the account entirely?

Distribution fees, wire transfer fees ($15-$35 is typical), and account termination fees all vary. Some companies charge a closing fee of $100-$250. Know the exit cost before you enter. A company that is reluctant to answer this question usually charges fees that would have influenced your decision.

Q18. Are your representatives salaried, or do they earn commission on what I purchase?

This question has a direct structural implication. A commissioned sales representative earns more when you spend more and when you choose higher-margin products. A salaried, non-commissioned educator has no financial incentive to push larger or more expensive purchases. Augusta Precious Metals publicly states on their website that their team is “salaried, non-commissioned educators.” That is a structural difference worth asking every company you evaluate.

Q19. Is there any time pressure on the offer you’re presenting, or a deadline to decide?

FINRA’s investor alert on precious metals fraud, available at finra.org, identifies urgency tactics as a primary warning sign. Phrases framing urgency around price movement, expiring offers, or closing windows are documented scam tactics per FINRA, not legitimate sales features. Any provider worth working with gives you time to review paperwork, consult your tax advisor, and ask follow-up questions.

Q20. Do I have a right of rescission, and what are the conditions for a full refund?

Many states grant consumers a right to cancel certain contracts within 3 business days of signing. Some precious metals contracts have different terms. Ask in writing: “Do I have a cancellation period, and what are the exact conditions for a full refund of any deposit or payment?” Get the answer before you sign, not after.

Q21. What educational resources do you provide before asking me to make any commitment?

Companies that invest in pre-purchase education tend to attract better-informed clients and generate fewer complaints. Resources might include a detailed guide to self-directed gold IRAs, recorded webinars, or a one-on-one web conference with an educator. The key: these should be available before any paperwork is initiated and should cover both the benefits and the risks of the product.

Q22. Which specific gold and silver products do you offer that meet IRS fineness requirements?

IRS Publication 590-A specifies the minimum fineness for IRA-held metals under IRC Section 408(m): gold at 99.5% purity, silver at 99.9%, platinum and palladium at 99.95%. Eligible gold products include the American Gold Eagle, the American Gold Buffalo, the Canadian Gold Maple Leaf, and several other government-minted coins. Ask for the company’s full list of IRS-eligible products and compare it against the IRS publication directly.

Q23. Do you recommend numismatic or collectible coins, and what is the stated rationale?

Numismatic coins (valued for rarity or historical significance beyond their metal content) are not IRS-eligible for self-directed IRAs under IRC Section 408(m)(3)(B). A company that steers you toward numismatic products for an IRA is either uninformed or directing you toward ineligible, higher-margin products. This is a documented issue in SEC investor alerts. If a representative recommends “rare coins” as a better investment than bullion, treat that as a serious warning sign and verify eligibility directly against the IRS publication.

Q24. Which mints or refiners produce the metals you offer?

Products from recognized sources carry verifiable standards and traceability. The U.S. Mint, Royal Canadian Mint, Perth Mint, and LBMA-accredited refiners (the London Bullion Market Association maintains a published good-delivery list at lbma.org.uk) all meet institutional standards. Products from unrecognized sources introduce verification risk at the time of sale or distribution.

Q25. Can I choose any IRS-eligible product from the approved list, or is selection limited to your inventory?

You have the legal right to direct your self-directed IRA to purchase any IRS-eligible metal. A company that limits your choices to a proprietary selection may be steering you toward higher-margin products. Ask: “If I find an IRS-eligible product not on your list, can I purchase it through my account?” The answer should be yes, with a process for special orders.

Q26. Do you offer a buyback program, and are the terms guaranteed in writing?

Some gold IRA companies publicly commit to buying back your metals at current market rates. The terms that matter: Is the buyback guaranteed or discretionary (they can decline)? What price do they pay (spot, at a premium, or below spot)? How quickly do they process the purchase and send payment? Verbal commitments are not enforceable. Ask for the buyback policy in writing before account opening.

Q27. What is the current buy-sell spread on a standard product like a 1 oz American Gold Eagle?

The spread is the gap between what you pay to acquire metals (buy price, higher) and what the company will pay to purchase them back (sell price, lower). This number matters more than most other fees because it applies to your entire account value. A spread of 2-5% is reasonable on standard bullion. A spread of 15-30% means you need significant price appreciation just to break even on a sale.

Calculate it yourself: use the live spot of $4,413.45 per troy ounce as your reference, ask the representative for their buy price and their buyback price for a 1 oz American Gold Eagle, then divide the difference by the spot price.

Q28. How many business days does it typically take to liquidate my account and receive cash?

The typical timeline: you submit a liquidation request, the dealer sells the metals, the custodian processes the settlement, and the funds are wired to your bank. This process takes 5-15 business days with most custodians. If you need to access funds quickly (medical emergency, unexpected expense), this timeline matters. Ask for the specific number of business days in writing.

Q29. How do you process a rollover from my 401(k) or existing IRA to prevent triggering a taxable event?

There are two rollover types. A direct rollover (trustee-to-trustee transfer) moves funds from your existing custodian directly to the new IRA custodian, without passing through your hands. You owe no tax. An indirect rollover gives you the funds for up to 60 days before you must redeposit them in a qualifying IRA; miss that window and the IRS treats the full amount as a taxable distribution, plus a 10% early withdrawal penalty if you are under 59.5 (see IRS Publication 590-A, “Rollovers” section).

A reputable company handles the paperwork for a direct, trustee-to-trustee transfer. If any answer involves funds passing through your bank account at any point, consult your tax advisor before proceeding.

Q30. How does your company support Required Minimum Distributions when I reach that age?

Under the SECURE Act 2.0 (Public Law 117-328, December 2022), required minimum distributions begin at age 73 for investors born between 1951 and 1959, and at age 75 for those born in 1960 or later. With a gold IRA, you have two distribution options: an in-kind distribution (the depository ships physical metals to you; you pay tax on the market value on that date) or a cash distribution (metals sold, cash distributed). Ask what fees apply, how the value is calculated, and how much advance notice is required. Consult your tax advisor for your specific situation.