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Gold IRA Depositories

October 14, 2021

Disclosure: Some of the links in this article are from sponsors. The list below is an honest review gathered from thorough research, experience, and consumer-based feedback. 

4.5/5 Rating

Gold Investing Storage Security 

IRA Approved Gold IRA Storage

Investment in the physical asset of precious metals is an attractive option for investors in an uncertain market.

Precious metals are historically a relatively safe investment because physical gold will always maintain a value.

Gold IRAs allow investors to diversify their portfolios in a low-risk market.

Investment in gold, silver, and other precious metals is appealing to many investors that are afraid to invest in an uncertain market.

Like other retirement accounts, the IRS has specific regulations in place that govern how Gold IRAs must be managed and how the assets can be stored. They also have specific guidelines for 401k to gold IRA rollovers

That is where IRS-approved Gold IRA storage facilities come in.

Fort Knox Depository

Fort Knox Depository

What is a Gold IRA?


Retirement accounts are regulated by the IRS and have specific requirements in place.

Traditional IRAs and Roth IRAs typically only allow investments in stocks, mutual funds and ETFs.

A Gold IRA is an IRS-approved type of retirement account that allows for a larger breadth of options for investors including gold ETFs.

Gold IRAs get their names from investments in gold and other precious metals, but they allow for much more flexibility than that.

What is less well known is that other types of investments are allowed to be held in Gold IRA accounts. 

Gold & Precious Metal IRAs allow investment in many areas, including:

  • Precious metals
  • Commodities
  • Real estate
  • Tax lien certificates
  • Limited partnerships

How Can IRA Holders Invest in Precious Metals?

Getting started investing in precious metals can seem daunting to new account holders.

Thankfully, the process is straightforward with the help of some of the best precious metal brokers in the industry. We even have a gold IRA rollover guide here. 

Most Gold IRA precious metal brokers will help new investors from the first step to the last.

The first step in the process is to set up a self-directed Gold IRA account.

This can be accomplished in several ways, including rolling over existing IRA accounts into a Gold IRA.

Once the account is set up then the precious metals can be purchased through a precious metals broker.

The Gold IRA brokers will ensure that any precious metals they sell will meet IRS regulations.

Typically there are 4 types of precious metals that qualify for Gold IRAs:

  • Gold
  • Silver
  • Platinum
  • Palladium

Once the purchases are complete, the physical precious metals will be sent to an IRS-approved precious metals depository where they will be stored until the account holder chooses to sell them.

 The IRS requires that these precious metals be stored in an approved facility.

What is a Gold IRA Depository?

Gold IRA depositories are secure facilities that store and maintain physical precious metals that are held in Gold IRAs.

The IRS requires that all precious metals held in a Gold IRA account be stored in a third-party secure depository.

A Gold IRA depository is similar to a bank vault with high-level security where the precious metals are stored.

Account-holders can enjoy peace of mind knowing that the physical assets are protected and maintained by facility staff.

Gold IRA depositories are state-of-the-art secure facilities with 24-hour monitoring.

Facilities are subject to frequent auditing to ensure that all security and custodial processes are in place and functioning properly. 

What Services Do Gold IRA Storage Depositories Provide?

  • Insurance that ensures investors’ assets are protected in the case of theft or damage
  • Constant monitoring by armed security
  • Facilities that are built to resist and withstand natural disasters like severe storms, flooding, and fire
  • Individual investors’ allocated storage, upon request

Augusta Precious Metals

Augusta is the leading provider of Gold and other precious metal IRAs. They offer exceptional customer service and diversification options for their clients.

IRS-Approved Gold Storage

The IRS requires that precious metals associated with a Gold IRA must be stored in secure third-party custodial facilities. This facility must be IRS-approved.

The IRS has a list of depositories that must meet specific, high standards to maintain approval.

Most investors will have their precious metals sent directly to an IRS-approved depository.

This is because once the precious metals are received by the investor it is considered a taxable distribution.

If the depository takes custody of the precious metals directly, then this is avoided. 

Best Gold IRA Depositories

While all Gold IRA depositories that are approved by the IRS are required to follow strict guidelines, every company is different.

No two Gold IRA depositories are exactly the same. These are the top five secure storage companies.

Brinks Global Services

Brinks is best known as an armed cash courier service that deals with carrying large amounts of money in armored cars. 

Brinks Global Services also provides IRS-approved precious metals depository services.

They operate four approved secure facilities in Los Angeles, Salt Lake City, New York City, and London.

Delaware Depository Service Company

Delaware Depository Service Company is licensed by CME Group as an exchange-approved depository for the NYMEX and COMEX markets. 

All IRS-approved depositories must maintain insurance, but DDSC has an “all-risk” $1 billion dollar insurance policy through Lloyd’s of London.

They also offer $100,00 shipping insurance. DDSC operates IRS-approved depositories in Wilmington, Delaware, Orange County, CA, as well as abroad in Canada and Switzerland.

CNT

CNT is known as the largest provider of raw gold to the federal government.

CNT is also an IRA-approved and COMEX-approved secure IRA depository that is located in a Class 3 UL-rated building.

Their state-of-the-art facilities are located in Bridgewater, Massachusetts.

International Depository Services (IDS)

International Depository Services (IDS) is an IRS-approved depository that focuses on providing cost-effective and time-sensitive storage services to its clients.

They have two facilities in the U.S. located in New Castle, Delaware, and Dallas, Texas. They also have a facility in Ontario, Canada.

JP Morgan Chase Bank NA

JP Morgan Chase Bank of North America is a well-known name in the banking world but they are a newcomer to IRA depository services.

They have provided precious metals services for more than three decades.

Their facilities were first approved by the IRA for Gold IRA storage in 2011.

JP Morgan Chase Bank has international storage facilities in London and Singapore.

In Conclusion,

IRS-approved Gold IRA storage facilities provide a level of convenience and peace of mind that makes investing in precious metals that much easier. 

Investors do not need to be concerned about securing their physical assets personally and they can be confident that the high standards of the IRA will ensure their investment remains secure.

Augusta- Our #1 Choice for Gold IRA Investing

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