6 Trusted and IRS-Approved Depositories & Storage Vaults for your Precious Metals

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Last Updated on: 10th February 2023, 07:13 pm


As you may know, precious metals IRAs offer investors several primary advantages – it protects their savings from devaluation due to inflation, offers the ongoing opportunity to grow their savings as the precious metals appreciate in value, and it provides an avenue in which to invest in virtually all popular financial instruments without having to first liquidate the metals into cash.

Given the large amounts of wealth stored in precious metal IRAs, it makes sense that the government has only approved certain financial institutions to physically store the contents of these particularly valuable accounts. Right now there are 7 IRS-approved depositories that are allowed to store all of the major precious metals – which include gold, silver, platinum (and other platinum group metals like palladium and rhodium). In the following paragraphs we'll provide a brief overview of each approved depository:

Delaware Depository Service Company

The Delaware Depository Service Company is approved by the IRS and is licensed by the CME Group as an exchange-approved depository for the NYMEX and COMEX markets. Delaware Depository provides up to $1 billion of all-risk insurance coverage, including up to $100,000 coverage per package for shipments made by express carrier or mail. This company has clients of all sizes but generally caters to brokerage firms, manufacturers, refiners, IRA custodians, coin dealers, retailers, and commodity trading houses. Clients of the Delaware Depository also benefit from Delaware's numerous business tax advantages.


Brinks Global Services has authorized depositories in New York City and London. This is a commonly preferred depository because it offers several appealing advantages, including but not limited to:

  • Full liability for all stored valuables
  • Globally accessible inventory management via an online portal
  • Fast delivery of precious metals to secure storage locations
  • Industry standard weighing practices
  • Facilities available for conducting third-party assays and inspections
  • Preparation, acceptance, storage, and release of precious metals based on the account holder's instructions


HSBC Bank is one of the world's most prominent holders of precious metals. In fact, they're the largest bullion clearer in the world, and have been ranked the #1 dealer in silver and gold every year back to back since 2003, according to an annual survey conducted by Risk and Energy magazine. The company itself has been around since 1817 and has been an industry leader in precious metals for decades, hence it being approved by the IRS as a precious metals depository. Here a few more interesting features about HSBC Bank USA:

  • Comprehensive global customer service available 24-hours a day
  • A leader on the world's six leading precious metals exchanges
  • World's largest precious metals custodian
  • World's largest commercial vault

JP Morgan Chase Bank NA

Although JP Morgan has more than 3 decades experience in providing services related to precious metals, the company became an approved depository relatively recently in 2011. JP Morgan Global Metals also offers risk management solutions to its clients, as well as state-of-the-art vault facilities in New York, London, and Singapore. Precious metals managed by JP Morgan include Gold, Silver, Platinum, Palladium, and Rhodium. Given its recent inception as an approved depository, JP Morgan's depository currently accounts for less than 10% of the COMEX.

ScotiaMocatta Depository

The ScotiaMocatta depository is actually part of Scotiabank, which has long been referred to as “Canada's gold bank” and has investment and finance roots going all the way back to 1671. ScotiaMocatta was founded in 1997 when Scotia Capital Markets acquired Mocatta Bullion & Base from the Standard Chartered Bank (SBC). ScotiaMocatta is an approved COMEX depository that provides 24-hour global market coverage as well as a wide range of precious metals-related services, including but not limited to coins, certificate programs, leases/consignments/loans, rate agreements, and global physical delivery of stored metals.

CNT Depository

CNT Inc. is a COMEX-approved depository based in Bridgewater, Massachusetts, and is known for being the largest seller of raw gold to the federal government. With more than 35 years in vaulting experience, generates more than $8 billion in yearly revenue by maintaining direct distribution and storage relationships with some of the world's largest government mints. All of the precious metals stored in the CNT depository are 100% insured by Lloyd's of London. The depository itself is a Class III facility with 1,400 square feet of segregated vault space, 75 cubic feet of private vault storage, and more than 20,000 square feet of fully insured storage.

Chris Thomas
Chris Thomas

Chris Thomas is a Senior Editor at Gold IRA Guide. He is an experienced financial and investment author with a strong passion for commodity investing and global economics. Before joining the Gold IRA Guide team, Chris has been writing for various authority financial portals and magazines for over two decades.

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  1. Hi Chris,
    I am looking into the self directed IRA and wondered, Is there a IRS approved depository in Oklahoma?

  2. It’s interesting that immediately upon seeing the news of the credit downgrade that my and Doc’s initial reaction was to speculate that silver my sell-off on this news. But after some deliberations and research, particularly reading about the APMEX suspension of the purchases prior to the Asian open, that it became obvious what was going to happen. This became the case in my mind anyway. That’s what a good blog with many good thinkers connected to the right way to think about what’s really happening to our economy at the hands of these criminals is all about. THIS IS WAR against the EVIL-PAPER DOERS!We must use every piece of information at our disposal to defeat them and bring back REAL MONEY TO REPLACE THIS PAPER FANTASY!40 BUCKS AS I WRITE THIS!

  3. I stored my gold at First State Depository in Wilmington,Delaware and everyone’s gold and silver was embezzled. I thought I was insured but I wasn’t. That depository is closing can I roll over what I have left in yours? If I do what assurance do I have knowing lm insured this time.

  4. In the recent revealing of real truth about the BLUE Parties far right political pervasive persuasive activistic ideolog against our freedoms (aka UN’s non-elected leaders of NGOs like the WEF, Facebook, Microsoft, Google, etc.). It is interesting how ALL of these are in BLUE states. Communist/Progressive/Marxist all the same entities, same ole political tyranny with new names. These BLUE states are ruled by those who do NOT believe in the constitution or the rule of law. How can we get guarantees that our physical precious metals won’t get confiscated by these leaders in these states? You talk about trust, NOT in these 6, knowing what we know now. The 6 donor class favs more like it.

    • Hi Mikael, there are no guarantees. Many investors choose to store their metals in a depository that is located close to their home, so they can take ownership of their metals quickly if need be.

  5. Yes, I am investigating where all these IRS approved vaults are physically located and have found that most of them are in well fortified Blue states, California, New York and Delaware. There are a few in Red areas, but in the end of the day, when and if I need to actually take physical possession of my assets can I, or will I be able to transfer it to a new non-fiat currency, or what will be the currency to transfer it over to in the future? No and None! So, is it really a good asset class to hedge against an economic collapse? No! Will I be able to drive to the physical vault location with my pick-up truck and physically get it all with no problems in the midst of social unrest? No! Have we even thought about this, this far? No, but I have!

    • Hi Mikael, most custodians use Brinks, IDS or other popular depositories that have vaults all over the country. You should be able to find a vault close to you so you can easily have access to your metals if need be. That’s why we don’t recommend offshore storage. It makes it very complicated to have access to your metals. You definitely want to be physically close to your metals so you expedite taking physical possession if need be. Thank you.

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