Why Depositories Matter
Professional depository storage solves the three core problems of precious metals ownership: theft risk, insurance complexity, and authentication. For holdings above $10,000-$20,000, or for any metals held in an IRA, depository storage is standard practice. The question is which facility and at what cost.
Major Depositories Compared
Delaware Depository (Wilmington, DE)
The most widely used depository for precious metals IRA accounts. Delaware Depository Service Company (DDSC) operates a high-security vault facility in Wilmington, Delaware.
- Insurance: Lloyd’s of London blanket policy. Coverage amount not publicly disclosed but understood to be in the hundreds of millions.
- Audit frequency: Annual independent audit plus internal reconciliation.
- Storage fees: Approximately 0.5% of metal value annually for segregated storage. Minimum annual fee of approximately $150.
- Segregated vs. commingled: Both available. Segregated (your metal stored separately with your name on it) at slightly higher fees; commingled (your metal stored with other customers’ metal but allocated to you on records) at base rate.
- IRA compatibility: Compatible with most major IRA custodians including Equity Trust, GoldStar Trust, New Direction Trust, and others.
- Access: Customer visits available by appointment. Located in Wilmington, DE.
Delaware Depository is the default choice for most precious metals IRA investors due to its wide custodian compatibility and established reputation. For non-IRA storage, it remains competitive but other options may offer advantages depending on location and needs.
Brinks Global Services
The largest security logistics company in the world, operating vaults in multiple countries.
- Insurance: Self-insured and commercially insured. Brinks maintains one of the largest insurance programs in the security industry.
- Audit frequency: Regular internal audits. External audits vary by facility.
- Storage fees: Negotiable, typically 0.5-1.0% of metal value annually. Higher minimums than smaller depositories, often $250+/year.
- Segregated vs. commingled: Both available.
- IRA compatibility: Compatible with select IRA custodians. Fewer custodian relationships than Delaware Depository.
- Access: Vault facilities in multiple US cities and international locations. Customer access policies vary by facility.
Brinks’ advantage is global reach and institutional-grade security infrastructure. For investors with international diversification goals or very large holdings ($500,000+), Brinks offers capabilities smaller depositories cannot match. For typical retail IRA accounts, it is often more expensive and less convenient than Delaware Depository.
IDS of Delaware (Wilmington, DE)
International Depository Services of Delaware operates a Class III vault facility near Delaware Depository in Wilmington.
- Insurance: Lloyd’s of London policy, coverage levels comparable to Delaware Depository.
- Audit frequency: Annual independent audit.
- Storage fees: Approximately 0.5% of value annually with minimums around $100-$150/year. Often slightly cheaper than Delaware Depository.
- Segregated vs. commingled: Both available. Fully segregated storage with individual sealed containers.
- IRA compatibility: Compatible with major IRA custodians.
- Access: Customer visits by appointment.
IDS is a credible alternative to Delaware Depository with similar services and sometimes lower fees. It has a smaller market share, which makes it less well-known but not less capable.
CNT Depository (Bridgewater, MA)
A full-service depository and precious metals dealer in Massachusetts.
- Insurance: Commercial insurance policy. Confirm current coverage amounts directly.
- Audit frequency: Regular internal audits.
- Storage fees: Varies by metal type and quantity. Generally competitive with Delaware Depository.
- Segregated vs. commingled: Both available.
- IRA compatibility: Compatible with select IRA custodians.
- Access: Located in Bridgewater, MA. Customer visits available.
CNT is a smaller operation best suited for investors in the northeastern US who value proximity and a more personal service relationship.
Loomis International
A global cash-handling and security company that also provides precious metals vault storage.
- Insurance: Commercial insurance through major carriers.
- Audit frequency: Regular internal and external audits per corporate governance standards.
- Storage fees: Negotiable, generally competitive for larger holdings.
- Segregated vs. commingled: Both available at most facilities.
- IRA compatibility: Limited custodian relationships.
- Access: Multiple US and international locations.
Loomis is primarily institutional-focused. Retail investors may find better service and lower minimums at Delaware Depository or IDS.
Choosing Between Depositories
For most retail investors and IRA holders, the decision comes down to Delaware Depository or IDS of Delaware. Both are located in Wilmington, both carry Lloyd’s insurance, and both are compatible with major IRA custodians. IDS often offers slightly lower fees; Delaware Depository has broader custodian relationships and a larger market presence.
Brinks makes sense for investors with very large holdings ($500,000+) or those seeking international storage options. Brinks’ global vault network enables geographic diversification of storage across multiple countries.
CNT serves the northeastern US market well for investors who value proximity and the ability to visit their metals without significant travel. Loomis is primarily relevant for institutional clients.
Online Allocated Storage: BullionVault
For investors who want allocated storage without the minimum fees of traditional depositories, BullionVault offers an alternative model. BullionVault stores allocated gold, silver, platinum, and palladium in professional vaults across five locations (London, Zurich, Toronto, Singapore, New York). Storage fees run 0.12% annually for gold and 0.48% for silver, with no minimum holding size. Trading happens 24/7 on their exchange-style platform.
BullionVault has operated for over 20 years, holds LBMA membership, maintains a 4.7/5 rating on Trustpilot from 3,000+ reviews, and conducts annual independent audits. The tradeoff is that this is custodial storage rather than direct possession, and some users report that the withdrawal process involves more verification steps than expected. For investors who want allocated professional storage at lower minimums than Delaware Depository or Brinks, and who value geographic diversification across multiple vault locations, BullionVault is worth evaluating.
The most important factor is not which depository you choose but that the depository offers allocated storage with adequate insurance, regular audits, and compatibility with your IRA custodian if applicable.
Fee Comparison Summary
| Depository | Annual Storage | Minimum Annual Fee | Segregated Option | IRA Compatible |
|---|---|---|---|---|
| Delaware Depository | ~0.5% of value | ~$150 | Yes | Broad |
| Brinks | 0.5-1.0% | ~$250+ | Yes | Select |
| IDS of Delaware | ~0.5% | ~$100-$150 | Yes | Broad |
| CNT Depository | Varies | ~$100-$200 | Yes | Select |
| Loomis | Negotiable | $200+ | Yes | Limited |
All fees are approximate and subject to change. Request current fee schedules directly from each facility before committing. Some custodians negotiate bulk rates that differ from published pricing.
How to Evaluate a Depository
Insurance Coverage
Confirm the insurance carrier (Lloyd’s of London is the gold standard), the total coverage amount, and what events are covered (theft, employee fraud, natural disaster, mysterious disappearance). A depository that will not disclose its insurance carrier or coverage level is a red flag.
Ask specifically: is coverage on an all-risk basis or named-peril basis? All-risk covers everything not explicitly excluded. Named-peril covers only listed risks. All-risk is substantially better.
Audit Practices
Annual independent audits by a recognized accounting firm are the minimum standard. Some depositories also conduct quarterly internal audits. The audit should verify that physical inventory matches customer records, bar by bar for allocated accounts.
Request a copy of the most recent audit report or at minimum confirmation that audits occur and who performs them.
Regulatory Oversight
Precious metals depositories are not federally regulated the same way banks are. There is no FDIC or equivalent. Oversight comes from state-level regulations (varying significantly by state), insurance requirements, and contractual obligations to IRA custodians who perform their own due diligence.
Delaware-based depositories benefit from Delaware’s business-friendly legal framework and a concentration of financial services expertise. This is not a guarantee of quality, but it provides a more developed legal and regulatory infrastructure than depositories in less financially oriented jurisdictions.
Physical Security
Look for: UL-rated vault construction (Class III or higher), 24/7 armed security or monitoring, biometric access controls, seismic and environmental sensors, and controlled visitor access with identification requirements. Most reputable depositories will describe their security features in general terms without revealing specific configurations.
Financial Stability
A depository that goes bankrupt creates complications even for allocated account holders (access delays, legal costs, administrative burden). Research the depository’s parent company, years in operation, and financial backing. Established companies with diversified revenue streams (Brinks, Loomis) carry less business failure risk than single-purpose startups.
Delivery and Liquidation Options
Confirm how the depository handles both physical delivery (shipping metal to you) and liquidation (selling metal and sending cash). Key questions: What are shipping fees and insurance costs for delivery? How quickly can metal be shipped after a delivery request (24-72 hours is standard)? Can you sell metal directly from the vault, or must you take delivery first? Some depositories partner with dealers for in-vault liquidation, which eliminates shipping risk and cost.
For IRA accounts, liquidation from the depository is typically required (you cannot take physical delivery without triggering a distribution). Confirm that the depository supports in-vault liquidation at competitive prices, or that your IRA custodian has an efficient liquidation process.
IRA Custodian Compatibility
For precious metals IRA accounts, the IRA custodian (not the investor) selects and contracts with the depository. Some custodians work with only one or two depositories; others offer a choice.
Common custodian-depository pairings:
- Equity Trust: Delaware Depository, Brinks, IDS of Delaware
- GoldStar Trust: Delaware Depository, Brinks, IDS of Delaware, CNT
- New Direction Trust: Delaware Depository, IDS of Delaware
- STRATA Trust: Delaware Depository
If you have a preferred depository, confirm compatibility with your IRA custodian before opening the account. Switching depositories after the fact involves shipping metal (insured, at your cost) and administrative fees.
For investors deciding between depository storage and keeping metals at home, the home storage guide covers that tradeoff in detail. For understanding the critical difference between allocated and unallocated storage arrangements, see the allocated vs. unallocated guide.
Frequently Asked Questions
Can I visit the depository and see my metals?
Most depositories allow customer visits by appointment. Delaware Depository and IDS of Delaware permit scheduled inspections where you can view and verify your holdings. Brinks’ policies vary by facility. Visits typically require government-issued ID and advance scheduling of at least several business days.
What happens if my depository is robbed?
Insurance covers theft. A properly insured depository (Lloyd’s policy with adequate coverage limits) will replace stolen metal at current market value. This is one of the primary reasons to use a depository over home storage. The probability of a successful heist at a Class III vault facility with modern security is extremely low; no major US precious metals depository has suffered a significant theft in recent decades.
Can I switch depositories?
Yes, but it involves cost and logistics. Your current depository ships insured metal to the new facility. Shipping and insurance costs for a typical IRA-sized holding run $50-$200 depending on weight and distance. Both depositories may charge transfer fees. The process takes 1-3 weeks. If the switch is within the same IRA custodian’s approved depository list, it is simpler; if it requires changing custodians as well, plan for more administrative steps.
Are overseas depositories worth considering?
Some investors store metals outside their home country for jurisdictional diversification. Singapore, Switzerland, and Canada are popular choices. The tradeoffs: higher fees, currency risk on fee payments, limited ability to visit, and potential foreign asset reporting requirements (FBAR for US citizens with foreign holdings over $10,000). For most US investors, domestic depository storage is simpler and sufficient.
What is the minimum amount worth storing at a depository?
Given minimum annual fees of $100-$250, depository storage makes economic sense when fees represent less than 1-1.5% of holdings. That means a minimum practical holding of roughly $10,000-$25,000. Below that, the percentage cost of storage becomes disproportionate, and home storage or a gold ETF may be more efficient.