Gold IRA Depositories

What does a Gold IRA depository do?

A depository performs four functions: receives metals shipped from the dealer, stores them in a secure vault under climate control, insures the holdings against loss or theft, and reports inventory to the custodian for IRS Form 5498 fair-market valuation. The depository does not buy or sell metals — that is the dealer's role — and does not administer the IRA — that is the custodian's role.

Depositories must qualify under IRS rules as either a bank, a federally insured credit union, or an entity approved as a non-bank trustee under IRC § 408(n). The IRS publishes the list of approved non-bank trustees in its Internal Revenue Bulletin.

What are the four major Gold IRA depositories?

Four depositories handle the majority of US Gold IRA storage. Each differs on geographic footprint, insurance coverage, and storage options.

Custodians typically partner with one or two depositories. Confirm which depository your custodian uses before opening the account — moving metals between depositories later can cost $100–$500 in transfer fees plus shipping insurance.

What is the difference between segregated and commingled storage?

Segregated storage keeps your specific bars and coins in a labeled compartment, retrievable in the exact same items at distribution. Commingled storage pools your metals with other investors' holdings; you receive metals of equivalent weight and purity at distribution, not the specific items you bought.

Cost difference: segregated typically runs $50–$150 more per year on a $100,000 account. The choice matters at distribution time — investors who want the specific coins they purchased (for numismatic value, for example) must choose segregated. Investors taking cash distributions can use commingled and save the storage difference.

A third option exists at some depositories: allocated storage. Allocated is similar to segregated (your specific items tracked) but stored in a shared vault rather than a separate compartment. The legal protection is identical to segregated; the cost is typically $25–$75 lower per year.

What do depositories charge and what insurance applies?

Depository fees fall into two categories: storage and insurance (typically bundled at $100–$300 per year for accounts under $250,000) and transaction fees ($25–$100 per metal receipt or shipment). Some depositories use percentage-based pricing (0.5%–1% of asset value) for accounts above $250,000.

Insurance coverage varies by depository. Brink's carries multi-billion-dollar Lloyd's of London insurance per location. Delaware Depository and IDS carry similar comprehensive policies. The depository, not the custodian, is responsible for losses from theft, fire, or natural disaster. Confirm in writing that insurance covers the full fair-market value of your holdings, not a fixed dollar cap.

How do you choose a depository?

Five criteria matter when choosing between depositories: storage options offered (segregated, commingled, allocated), insurance coverage and insurer reputation, geographic location relative to you (matters for in-kind distribution shipping), the depository's relationship with your custodian (locked-in pairings vs flexibility), and audit transparency (annual independent audits published).

For most investors, the depository is effectively chosen by the custodian — only 1–2 options are typically available. The practical decision is segregated vs commingled within whichever depository your custodian works with. See Gold IRA custodians for the broader custodian-evaluation framework.