Gold IRA education

Gold IRA Custodian vs. Dealer vs. Depository

Understand which organization sells the metal, administers the account and stores the assets.

A concrete example to check

A useful way to verify the chain is to follow a single transaction: who accepts the purchase instruction, who sends the money, who issues the invoice, who records the asset and who can authorize delivery? The answer should be traceable across your agreements and account statements. Ask how complaints are handled when a delivery, valuation or liquidation problem involves more than one company.

Dealer

The dealer quotes and sells metals. It may introduce you to other service providers, but a dealer and an IRA custodian are not necessarily the same entity.

Custodian or trustee

The IRA trustee or custodian handles account administration and reporting under the applicable rules. Request its legal name and fee schedule.

Depository

The storage provider holds metals under the relevant custody arrangement. Ask about location, insurance, audits and withdrawal procedures.

Know who does what

A dealer quotes and sells metals. A custodian administers the IRA and records transactions. A depository provides physical storage; the same corporate group need not perform all three roles.

Check independence and incentives

Ask whether the dealer receives referral compensation from the custodian, who selects the depository, and whether you can choose an alternative provider.

Verify authority, not just branding

Check the legal entity on each contract and the relevant regulator or trustee approval. A custodian's existence does not establish that a particular metal purchase is suitable or legitimate.

Before you commit

Get a dated, written purchase quote and a same-day repurchase estimate for the identical product. Identify the legal entities handling sales, account administration and storage. Compare total costs over your intended holding period, not just a promotional headline. Keep copies of agreements and ask an independent qualified professional about personal tax or retirement-account consequences.

Independent references

• IRS: IRA investment and custody rules
• IRS: collectibles and eligible precious metals
• SEC investor alert: self-directed IRA risks

Further reading

• Gold IRA guide
• Gold IRA costs
• Compare providers

Sources to consult

IRS retirement account guidance · Investor.gov. Verify current terms with the relevant provider.

Example: an IRA metal purchase

Imagine your IRA is funded and you approve a purchase of specified bullion. The dealer supplies a price and product details; the custodian checks whether the transaction can be processed for the account and arranges payment under its procedures; the depository receives the metal and supplies records. The exact workflow varies by provider. Ask what happens if the delivered product differs from the invoice, if shipment is delayed, or if you want to sell part of the holding. Those answers identify who is accountable.