If you are opening a self-directed Gold IRA, choosing a precious metals dealer is only part of the process. Your gold, silver, platinum, or palladium must also be stored by an eligible third-party institution—not in your home or personal safe.
Delaware Depository is one of the best-known precious metals storage facilities used by Gold IRA custodians and dealers. Founded in 1999, the company provides allocated and segregated storage, insured transportation, inventory reporting, and other custody services for retirement investors and institutional clients.
But is Delaware Depository safe? How much does it cost, and should you select it for your Gold IRA?
This Delaware Depository review examines its security, insurance, storage options, reputation, fees, advantages, and potential drawbacks.
Quick verdict: Delaware Depository is a legitimate, established precious metals storage provider. Its state-chartered trust structure, substantial insurance coverage, exchange approvals, multiple storage locations, and experience handling IRA assets make it a strong option. However, storage fees and withdrawal procedures depend partly on your custodian, and investors generally cannot visit or access IRA metals whenever they want.
Delaware Depository Review Summary
| Category | Details |
|---|---|
| Company | Delaware Depository Service Company |
| Founded | 1999 |
| Headquarters | Wilmington, Delaware |
| Primary service | Precious metals custody and storage |
| Metals stored | Gold, silver, platinum, and palladium |
| Gold IRA storage | Available through participating custodians |
| Storage choices | Non-segregated and segregated |
| Insurance | Up to $1 billion in all-risk precious metals insurance through London underwriters |
| Exchange status | Approved for certain CME Group and ICE-related storage services |
| BBB profile | Accredited with an A+ rating as of July 2026 |
| Auditing | SSAE 18 SOC 1 Type 1 audited organization |
| Domestic locations | Facilities in Delaware, Pennsylvania, and Nevada |
| International options | Storage arrangements in Canada and Switzerland |
| Best for | Gold IRA investors and individuals seeking professional bullion custody |
| Main limitation | Fees and access procedures vary by account type and custodian |
| Overall assessment | Legitimate and highly established depository |
Company details and ratings can change. Confirm current terms with the depository and your IRA custodian before opening an account.
What Is Delaware Depository?
Delaware Depository is a private precious metals custody company headquartered at:
3601 North Market Street
Wilmington, DE 19802
The company was established in 1999 and operates as a limited-purpose, state-chartered trust company. It specializes in the secure custody, accounting, transfer, and shipment of physical precious metals.
Its clients include:
- Self-directed IRA custodians
- Individual bullion investors
- Precious metals dealers
- Investment banks
- Brokerage firms
- Refiners and manufacturers
- Commodity trading firms
- Large retailers
- Institutional investors
Unlike a precious metals dealer, Delaware Depository generally does not help investors decide which coins or bars to purchase. It also does not provide investment advice.
Its principal role is to receive, verify, record, safeguard, and eventually release or ship precious metals according to authorized instructions.
Is Delaware Depository Legitimate?
Yes. Delaware Depository is a legitimate precious metals storage company with more than 25 years of operating history.
Several factors support its legitimacy:
- It has operated since 1999.
- It is structured as a state-chartered limited-purpose trust company.
- It is regulated by a state banking authority.
- It maintains exchange-approved storage facilities.
- It undergoes independent control auditing.
- It carries substantial precious metals insurance.
- It serves IRA custodians, dealers, financial institutions, and individual investors.
- It is accredited by the Better Business Bureau.
The company states that it is one of a limited number of global depositories approved by CME Group to store metals that may be used to satisfy delivery requirements for regulated COMEX and NYMEX futures contracts. Such approval is meaningful, although it does not guarantee that every customer will have a problem-free experience.
Is Delaware Depository IRS Approved?
The phrase “IRS-approved depository” is widely used in Gold IRA marketing, but it can be misleading if taken to mean that the IRS recommends or endorses a particular company.
The more accurate question is whether the institution is qualified to hold IRA-owned precious metals under the applicable custody rules.
Delaware Depository states that it is a trust company qualified to safeguard precious metals held in IRAs. It maintains IRA assets in allocated custody accounts and holds them off its balance sheet.
The IRS explains that qualifying bullion must remain in the physical possession of a bank or approved nonbank trustee. Certain coins are also allowed under Internal Revenue Code Section 408(m), provided the applicable requirements are satisfied.
The depository does not determine whether a particular coin or bar is eligible for your IRA. That responsibility is shared among the investor, precious metals dealer, and self-directed IRA custodian.
Why Gold IRA Metals Require Third-Party Storage
A Gold IRA is a tax-advantaged retirement account, not a personal bullion collection. Although you direct the investment, the IRA—not you individually—owns the metals.
Taking personal possession of IRA-owned metals could cause the transaction to be treated as a taxable distribution. Taxes and an additional early-distribution penalty may apply, depending on the investor’s age and circumstances.
The IRS specifically cautions that when an IRA owner or beneficiary takes possession of IRA-owned coins, those coins are treated as distributed. IRS Publication 590-B
This is why a typical Gold IRA involves three separate service providers:
| Provider | Primary responsibility |
|---|---|
| Precious metals dealer | Sells the IRA-eligible coins or bars |
| Self-directed IRA custodian | Administers the account and handles IRS reporting |
| Precious metals depository | Physically safeguards the metals |
Delaware Depository usually fills the third role. It should not be confused with either the dealer selling the metals or the custodian administering the IRA.
Delaware Depository Storage Options
Delaware Depository offers two principal storage arrangements: non-segregated storage and segregated storage.
Non-Segregated Storage
Non-segregated storage may also be described as commingled storage, although your ownership should still be documented through the depository’s accounting system.
Under this arrangement, your metals may be stored with metals of the same type belonging to other customers. If you request a distribution, you should receive equivalent products of the same kind, weight, and purity, but not necessarily the identical pieces originally deposited.
For example, if your IRA owns ten one-ounce American Gold Eagles, the account records should show that quantity and product. The ten coins eventually shipped to fulfill a distribution might not have the same individual serial or identifying characteristics as the original coins.
Non-segregated storage is generally:
- Less expensive
- Suitable for standardized bullion
- Commonly offered through Gold IRA custodians
- Efficient for processing purchases and distributions
Segregated Storage
With segregated storage, your metals are physically separated and specifically identified as belonging to your account.
This option may be preferable for investors who want:
- Greater separation from other customers’ assets
- Easier identification of particular bars
- Storage of unique or individually serialized products
- Increased certainty that the same deposited items will remain assigned to the account
Segregated storage normally costs more than non-segregated storage. It also may not be available for every metal, product, facility, or custodian.
Before selecting it, ask whether “segregated” means the metals are kept in an entirely separate compartment or simply identified and separated within a shared secured area.
Are Assets Fully Allocated?
Delaware Depository says its precious metals custody accounts are fully allocated and individually identified. It also states that IRA bullion is held off the company’s balance sheet. Delaware Depository brochure
Allocation is important because it indicates that specific quantities of metal are recorded as belonging to particular customers or accounts. The depository is holding the property in custody rather than treating the bullion as its own asset.
However, allocation and segregation do not mean exactly the same thing:
- Allocated storage means a defined amount of bullion is assigned to an owner.
- Segregated storage means the assigned bullion is also physically separated from other customers’ property.
Investors should confirm both the legal ownership structure and physical storage method in their account agreement.
Delaware Depository Security
Precious metals depositories do not disclose every detail of their defenses—and for good reason. Nevertheless, Delaware Depository identifies several layers of protection.
Physical security
The company reports using fortified, access-controlled facilities and high-security vaults. Access to metal-handling areas is restricted to authorized personnel.
Its security framework reportedly includes:
- Controlled facility access
- High-security vaults
- Continuous monitoring
- Alarm and detection systems
- Secure loading and receiving procedures
- Background screening and internal controls
- Dual-control operating procedures
- Inventory reconciliation
Electronic and operational controls
Security involves more than vault walls. A credible depository must also prevent record manipulation, unauthorized instructions, and accounting discrepancies.
Delaware Depository says it uses proprietary systems and internal controls to maintain accurate custody records. It is identified on its website as an SSAE 18 SOC 1 Type 1 audited organization.
A SOC 1 examination evaluates controls relevant to customers’ financial reporting. It is not a guarantee against theft or operational error, but it adds independent scrutiny to the organization’s control environment.
Audits and reconciliations
The company reports conducting regular audits and inventory reconciliations. These procedures compare physical holdings with account records and help identify discrepancies.
Prospective customers should ask:
- How frequently are physical inventories reconciled?
- Are audits performed internally, independently, or both?
- Can the custodian provide account-level statements?
- Do bar lists include serial numbers where applicable?
- How are discrepancies investigated and resolved?
Delaware Depository Insurance Coverage
Delaware Depository reports maintaining up to $1 billion in all-risk precious metals insurance through London underwriters. The stated coverage is intended to address risks such as physical loss, theft, or damage while assets are in qualified custody. Delaware Depository overview
That headline figure requires context. It should not automatically be interpreted as $1 billion of dedicated coverage for each investor or each location.
Before relying on any insurance claim, ask for clarification about:
- The maximum total policy limit
- Whether coverage is shared across customers and facilities
- Applicable deductibles
- Exclusions and coverage conditions
- Protection during inbound and outbound transportation
- How claims are valued and paid
- Whether mysterious disappearance is covered
- Whether coverage continues while metals are handled by a third-party carrier
The company’s insurance is not the same as FDIC deposit insurance. The FDIC generally protects qualifying cash deposits at insured banks, not the market value of physical gold held in a private vault.
Delaware Depository Locations
Delaware Depository’s headquarters and best-known facility are in Wilmington, Delaware. Its website also identifies a location at:
1009 Industrial Road
Boulder City, NV 89005
The company reports operating storage facilities in Delaware, Nevada, and Pennsylvania, with international storage availability in Canada and Switzerland. Delaware Depository locations and expansion
Multiple locations can provide:
- Geographic diversification
- Greater logistical flexibility
- Shorter transportation routes for some clients
- Additional operational capacity
- Reduced dependence on a single facility
Not every location will necessarily be available through every Gold IRA custodian. International storage may also introduce additional costs, reporting considerations, and logistical complications.
For most U.S. retirement investors, domestic storage is generally the simpler choice.
Delaware’s Tax Treatment of Precious Metals Storage
Delaware is frequently promoted as an attractive bullion-storage jurisdiction because the state does not impose a general sales tax.
However, storing metals in Delaware does not automatically make every related transaction tax-free. Tax treatment may depend on:
- Where the purchase occurs
- Where the customer resides
- Where the dealer is located
- How and where the metals are delivered
- Whether the assets belong to an IRA
- Applicable state and federal laws
Gold IRA tax treatment is primarily determined by federal retirement-account rules. Investors should not select a depository solely because of broad sales-tax claims.
What Services Does Delaware Depository Offer?
In addition to long-term storage, Delaware Depository provides several supporting services.
Precious metals custody
The company stores gold, silver, platinum, and palladium bullion for institutions, businesses, IRA custodians, and eligible individual customers.
Internal transfers
Metals held at the facility may be transferred between eligible accounts without first being shipped to an outside location. This can reduce transportation costs and processing time when both parties have compatible accounts.
Insured shipping
Delaware Depository can arrange insured shipments through approved carriers, including major parcel services and armored transportation companies. Availability depends on the shipment’s destination, size, value, and contents.
IRA custody support
The depository works with self-directed IRA custodians and precious metals dealers to receive and safeguard qualifying IRA assets.
Collateral custody
Commercial customers may use stored precious metals as documented collateral in eligible financial arrangements.
Inventory reporting
Customers or their custodians receive reports showing the metals held for their accounts. The account-access process may differ between direct personal-storage accounts and custodian-controlled IRA accounts.
How Much Does Delaware Depository Cost?
Delaware Depository does not publish a single universal Gold IRA storage price because fees can depend on:
- The IRA custodian
- Selected facility
- Metal type and quantity
- Total account value
- Segregated or non-segregated storage
- Insurance requirements
- Number of transactions
- Shipping and handling services
Many Gold IRA custodians charge investors a bundled or flat annual storage fee. Typical industry charges often range from approximately $100 to $300 per year, but that is a general market estimate—not a guaranteed Delaware Depository price.
Segregated storage usually costs more. Shipping, insurance, withdrawal, handling, and account-termination charges may be billed separately.
An older personal-account agreement available online lists percentage-based and per-bar rates, but investors should not assume that historical document represents current IRA pricing. Obtain a written fee schedule from your proposed custodian before transferring retirement funds.
Fees to verify before opening an account
Ask for written confirmation of:
- IRA setup fee
- Annual custodian administration fee
- Annual depository fee
- Segregated-storage surcharge
- Transaction fees
- Incoming shipment fees
- Outgoing shipment fees
- Insurance charges
- Wire or check fees
- Liquidation fees
- Account-closing fees
- Physical-distribution costs
A provider quoting “free storage” may be waiving the cost temporarily or recovering it through product spreads. Request the full cash price and total fee schedule before agreeing to a purchase.
How a Gold IRA Is Stored at Delaware Depository
A typical transaction follows these steps:
- Choose a self-directed IRA custodian.
The custodian establishes and administers the retirement account. - Fund the IRA.
Funding may come from a contribution, transfer, or rollover from another eligible retirement plan. - Select a precious metals dealer.
Compare product prices, premiums, buyback policies, and customer ratings. - Choose eligible metals.
The custodian and dealer help determine whether the proposed products satisfy IRA requirements. - Authorize the purchase.
The custodian sends IRA funds to the dealer after receiving your investment direction. - Ship the metals to Delaware Depository.
The dealer ships the products directly to the approved storage facility. - Verify and record the shipment.
The depository receives the package, verifies its contents, and updates the appropriate custody records. - Maintain the assets in storage.
The metals remain in custody until the IRA authorizes a sale, transfer, or distribution.
You should not personally receive the metals during the purchase process. Doing so could create an unintended distribution.
How to Withdraw or Sell Your Metals
Because IRA-owned metals belong to the retirement account, Delaware Depository ordinarily acts only after receiving proper authorization from the custodian.
You will generally have two choices.
Sell the metals
You may instruct your custodian to facilitate a sale through your dealer or another qualified buyer. After the transaction is completed, cash proceeds return to the IRA.
Keeping the proceeds inside the IRA generally avoids an immediate distribution, although taxes may eventually apply when funds are withdrawn from a traditional IRA.
Take an in-kind distribution
You can request physical delivery of the metals as a retirement-account distribution. The fair market value is normally reported as a distribution and may be taxable.
Shipping, handling, insurance, and custodian fees may apply. An additional tax may apply to early distributions unless an exception is available.
Consult a qualified tax professional before requesting personal delivery of IRA-owned bullion.
Delaware Depository Reviews and Complaints
Delaware Depository is accredited by the Better Business Bureau and held an A+ BBB rating at the time of this review. Its BBB profile states that the company has been accredited since December 2016.
The number of public consumer reviews is limited compared with major precious metals dealers. This is not necessarily unusual because many investors interact primarily with their custodian or dealer rather than directly with the storage facility.
An A+ BBB rating should not be treated as proof that a company is risk-free. BBB ratings are based on the organization’s criteria and are not government certifications or guarantees of future performance.
When examining a complaint involving stored metals, determine which company was responsible. A delayed sale or distribution could involve:
- The precious metals dealer
- The IRA custodian
- The depository
- A shipping carrier
- Incomplete account instructions
- Identity-verification requirements
A complaint mentioning Delaware Depository does not automatically mean the depository caused the underlying problem.
Delaware Depository Pros and Cons
Advantages
- More than 25 years of precious metals custody experience
- Qualified to hold eligible Gold IRA assets
- State-chartered trust company structure
- Allocated and segregated storage choices
- Up to $1 billion in stated insurance coverage
- Exchange-approved storage operations
- SSAE 18 SOC 1 Type 1 audit status
- Domestic and international storage locations
- Insured shipment and internal transfer services
- A+ BBB rating and accreditation
- Assets reportedly maintained off the depository’s balance sheet
- Works with numerous IRA custodians and bullion businesses
Disadvantages
- No simple universal Gold IRA fee schedule
- Segregated storage may cost more
- Limited number of public consumer reviews
- IRA investors cannot independently remove metals without custodian authorization
- Storage does not protect investors from falling precious metals prices
- Insurance terms contain limits and exclusions
- Investors may have little control over which facility their custodian uses
- Physical distributions can involve taxes and additional fees
Delaware Depository vs. Home Storage
| Feature | Delaware Depository | Home storage |
|---|---|---|
| Professional vault security | Yes | Usually no |
| Institutional insurance | Available | Often limited or excluded |
| Independent inventory records | Yes | No |
| Suitable for IRA-owned bullion | Generally, through a qualifying arrangement | High risk of violating IRA custody rules |
| Immediate personal access | No | Yes |
| Annual storage fee | Yes | Not necessarily |
| Privacy from household visitors | High | Depends on the home |
| Protection against household theft or disaster | Professional controls | Depends on security and insurance |
Home storage may appear convenient, but it is generally inappropriate for IRA-owned metals. The IRS has warned that personal possession can cause IRA assets to be treated as distributed—even when an IRA-owned LLC is inserted into the arrangement.
For metals purchased outside a retirement account, home storage remains a personal choice. Investors should still consider insurance limitations, theft risk, disaster exposure, and estate-access issues.
Delaware Depository vs. Other Gold IRA Depositories
| Feature | Delaware Depository | Brink’s Global Services | International Depository Services |
|---|---|---|---|
| Precious metals specialization | Yes | Yes, alongside broader logistics | Yes |
| Gold IRA storage | Yes | Available through participating custodians | Yes |
| Segregated storage | Available | Available in qualifying arrangements | Available |
| Multiple locations | Yes | Extensive global network | U.S. facilities |
| Insurance | Commercial all-risk coverage | Commercial coverage varies by arrangement | Commercial coverage varies by arrangement |
| Best known for | IRA and exchange-related bullion custody | Global secure logistics | Dedicated U.S. bullion storage |
The best depository depends on more than name recognition. Compare:
- Total annual fees
- Storage location
- Insurance documentation
- Segregation policy
- Withdrawal procedures
- Custodian compatibility
- Processing time
- Audit and reporting standards
In many cases, your choice of Gold IRA custodian determines which depositories are available.
Who Should Consider Delaware Depository?
Delaware Depository may be suitable for investors who:
- Want to hold physical precious metals inside a self-directed IRA
- Prefer an established U.S. storage provider
- Want allocated or segregated custody
- Value significant commercial insurance coverage
- Want multiple geographic storage options
- Are comfortable accessing metals through an IRA custodian
- Understand that precious metals can fluctuate in value
It may be less suitable for someone who:
- Wants immediate personal access to bullion
- Does not want to pay annual custody fees
- Is investing only a small amount
- Wants short-term speculative trading
- Expects gold to produce dividends or interest
- Has not compared dealer markups and buyback spreads
Important Questions to Ask Before Choosing a Depository
Before opening a Gold IRA, get written answers to the following:
- Which Delaware Depository location will hold my metals?
- Will my holdings be allocated, segregated, or both?
- Are the exact coins and bars returned during a distribution?
- What is the total annual storage fee?
- Are fees flat or based on account value?
- What insurance applies to my specific holdings?
- Does insurance cover metals while they are in transit?
- How frequently are inventories reconciled?
- Will I receive serial-numbered bar reports?
- How long do sales and physical distributions normally take?
- What fees apply when I close the account?
- Can I transfer metals to another eligible depository?
- Which party handles damage, loss, or account-record disputes?
A trustworthy Gold IRA provider should answer these questions clearly without pressuring you to transfer money immediately.
Is Delaware Depository Safe?
Delaware Depository appears to have many of the characteristics investors should seek in a precious metals storage provider:
- Long operating history
- State trust-company status
- Institutional clients
- Independent control examinations
- High-security facilities
- Inventory reconciliation
- Significant insurance
- Exchange approval
- Allocated custody records
Nevertheless, no depository can eliminate every risk. Insurance may contain exclusions, operational mistakes are possible, and the market value of gold can decline regardless of how securely it is stored.
Security addresses custody risk—not investment risk.
Is Delaware Depository a Scam?
No evidence suggests that Delaware Depository is a scam. It is an established, state-chartered precious metals custody company that has served individual and institutional clients since 1999.
Investors should still verify that anyone claiming to represent the company is legitimate. Precious metals scams sometimes involve individuals impersonating well-known dealers, custodians, or storage providers.
Avoid sending metals or money based solely on an unsolicited email or telephone call. Confirm instructions through your custodian and independently verified contact information.
Delaware Depository Review: Final Verdict
Delaware Depository is a credible option for Gold IRA and personal precious metals storage. It combines extensive industry experience with allocated custody, segregated-storage availability, commercial insurance, independent control auditing, and multiple locations.
Its main disadvantages are the lack of a simple public IRA fee schedule and the limited direct access investors have to retirement-account metals. These restrictions are not necessarily signs of poor service; custodian-controlled access is part of maintaining the proper separation between an IRA owner and IRA assets.
The quality of your overall Gold IRA will also depend on the dealer and custodian you select. A secure vault cannot compensate for excessive coin markups, hidden administrative charges, unsuitable products, or aggressive sales tactics.
Considering a Gold IRA?
Before transferring retirement funds, compare several providers based on minimum investment, total annual fees, metal markups, buyback terms, custodian choices, and depository options. Request a free Gold IRA information guide to determine whether physical precious metals fit your retirement objectives and account size.
Frequently Asked Questions
Is Delaware Depository a bank?
No. Delaware Depository describes itself as a limited-purpose, state-chartered trust company. It does not conduct ordinary consumer banking activities such as taking cash deposits, issuing checking accounts, or making conventional loans.
Can individuals use Delaware Depository?
Yes. Delaware Depository offers services for eligible individual and commercial accounts. Gold IRA investors usually access it through a participating self-directed IRA custodian.
Does Delaware Depository sell gold?
Its primary business is custody, storage, transfer, and shipment—not recommending or selling investments. Investors typically purchase metals through a precious metals dealer.
Can I visit my gold at Delaware Depository?
Access is controlled and subject to the depository’s policies, advance authorization, account type, and custodian requirements. Do not assume you can arrive without an appointment or personally handle IRA-owned metals.
Does Delaware Depository insure precious metals?
The company reports maintaining up to $1 billion in all-risk precious metals insurance through London underwriters. Investors should review policy limits, exclusions, deductibles, and transit coverage rather than relying only on the headline amount.
Does Delaware Depository offer segregated storage?
Yes. Segregated and non-segregated storage options are available, although availability and pricing may depend on the metal, location, account agreement, and IRA custodian.
Who owns gold stored in a Gold IRA?
The IRA is the legal owner of the assets for the benefit of the account holder. The custodian administers the account, while the depository safeguards the physical metals.
Can I store my Gold IRA metals at home?
Generally, this creates serious tax-compliance risk. The IRS requires qualifying IRA bullion to remain in the possession of a bank or approved nonbank trustee. Personal possession can cause the metals to be treated as distributed.
How do I move gold from another depository to Delaware Depository?
Contact your IRA custodian and request an institution-to-institution transfer. Do not have IRA metals shipped to your home before forwarding them, as personal receipt could create a taxable distribution.
Is segregated storage worth the extra cost?
It may be worthwhile for investors with large accounts, serialized bars, or a strong preference for physical separation. For standardized bullion, lower-cost non-segregated storage may be adequate if the assets remain fully allocated and properly documented.
