Delaware Depository Service Company (DDSC) is one of the most widely used IRS-qualified precious metals storage facilities in the country. Based in Wilmington, Delaware, it holds $1 billion in insurance coverage through Lloyd’s of London and is licensed by CME Group (COMEX and NYMEX) to store gold, silver, platinum, and palladium. If your gold IRA custodian uses an “IRS-approved depository,” there is a good chance that depository is Delaware Depository.
Delaware Depository Service Company is an IRS-qualified precious metals storage facility. Based in Wilmington, Delaware, with a second facility in Boulder City, Nevada, it holds $1 billion in all-risk insurance underwritten by Lloyd’s of London. It is licensed by CME Group (COMEX and NYMEX) to store gold, silver, platinum, and palladium, and follows SSAE 18 SOC 1 Type I audit standards. Most leading gold IRA custodians route accounts through DDSC.
QUICK OVERVIEW
| Full name | Delaware Depository Service Company (DDSC) |
|---|---|
| Primary location | 3601 N. Market Street, Wilmington, DE 19802 |
| Second facility | 1009 Industrial Road, Boulder City, NV 89005 |
| Insurance | $1 billion all-risk, Lloyd’s of London underwriters |
| Audit standard | SSAE 18 SOC 1 Type I |
| Licensing | CME Group (COMEX & NYMEX) · ICE Futures US |
| Storage structure | Fully allocated, off-balance sheet · IRS-qualified |
What Delaware Depository Actually Does
Delaware Depository is not a gold dealer and not an IRA custodian. It is a depository, which means its sole job is to store physical precious metals on behalf of account holders, dealers, and financial institutions.
For a gold IRA specifically, the Internal Revenue Code requires that physical metals held inside a retirement account be stored with an approved trustee or custodian, not at home. IRS Publication 590-A and IRS Publication 590-B govern the rules around self-directed IRA assets, and precious metals must stay at a qualified facility until the account holder takes a distribution. Delaware Depository is a state-chartered trust company that meets those requirements fully.
The company operates as a standalone storage institution with no commercial banking side. No cash deposits, no lending, no checking accounts. Its only business is custody of physical precious metals. That single-focus structure is one reason so many IRA custodians work with it: there is no conflict of interest, and the company’s liabilities are limited to what it does.
DDSC states on its website that “the majority of IRA custodians choose Delaware Depository IRA services” to store customer assets. That claim is plausible given its licensing by two of the largest commodity exchanges in the world.
Security Infrastructure: What Protects Your Metals
Delaware Depository describes its security as “many layers of physical and electronic security, proprietary systems and internal controls, and legal protections.” Here is what the company discloses publicly:
Physical Vault and Building Security
The vault facilities comply with the Bank Protection Act and meet Underwriters Laboratories (UL) standards for high-security storage. Specific features include automatic re-locking systems, time locks, dual-control access procedures, metal detectors, multiple independent alarm systems, and continuous digital recording. Two employees must be present for any vault access, which is the dual-control requirement common to bank-grade operations.
Insurance: $1 Billion Through Lloyd’s of London
DDSC carries $1 billion in “all-risk” insurance coverage through London-based underwriters, which the company identifies as Lloyd’s of London on its IRA services page. All-risk coverage means the policy applies to physical loss, damage, mysterious disappearance, employee dishonesty, and theft. The exclusions are narrow: war, terrorism, cyberattacks, and weapons-related events are not covered.
Lloyd’s of London is the specialist insurance market known for covering unusual or high-value risks that standard carriers decline. Having a depository insured through Lloyd’s is the industry standard for major precious metals storage, and DDSC’s $1 billion limit is material at the scale it operates.
Shipment coverage is also available, up to $100,000 per package for metals in transit.
Audits and Independent Verification
Delaware Depository holds SSAE 18 SOC 1 Type I certification, which is the audit standard used by financial service organizations to verify that their internal controls over financial reporting are properly designed. SSAE 18 (Statement on Standards for Attestation Engagements) replaced the older SSAE 16 standard and is the same framework used by transfer agents, custodians, and fund administrators in the securities industry.
Beyond the SOC 1 certification, DDSC conducts daily data backups, regular internal inventory audits, and annual reviews by certified public accountants and insurance brokers. Inventory reconciliation against account-level records happens on a regular basis.
Commodity Exchange Licensing
DDSC is licensed by CME Group for storage of gold, silver, platinum, and palladium under COMEX and NYMEX rules. It also holds a license from ICE Futures US for gold and silver storage. These exchange licenses require the depository to maintain standards for inventory record-keeping, independent audits, and physical security that satisfy futures contract delivery requirements. In practice, it means the same vaults that hold your IRA gold can hold metals that back commodity contracts traded on the largest derivatives exchanges in the world.
IRA Storage Services: How It Works for Account Holders
Delaware Depository offers fully allocated, off-balance-sheet storage for precious metals held inside IRAs. Here is what that means in practice.
Fully Allocated Storage
All bullion stored for an account holder is physically separate and identified as belonging to that account. It is “fully allocated to the account holder and held off-balance sheet,” meaning DDSC does not record your metals as a company asset on its own books. If the depository were to experience financial difficulties, your metals would not be part of its estate because they are not its property to begin with.
This is the standard required for IRS-compliant precious metals IRA storage. Metals held in a commingled or unallocated arrangement could create questions about constructive receipt, potentially triggering IRS treatment of the holding as a distribution. The fully allocated structure avoids that risk.
IRS Compliance and IRC Requirements
DDSC is a state-chartered trust company, and the company states explicitly that it “is qualified to store IRA assets and fully meets IRC requirements for custody and safekeeping of precious metals.” Assets held there do not constitute a distribution or a collectible under IRS rules, which is necessary for the tax-deferred treatment of a self-directed IRA to remain intact.
Consult your tax advisor for your specific situation before making any decisions about IRA storage or distributions.
Access to Your Metals
Account holders do not directly access Delaware Depository on their own. All instructions flow through the IRA custodian, who acts as the legal holder of the account. If you want to take a distribution in metal (an in-kind distribution), you notify your custodian, who then instructs the depository to ship the metals to you. At that point, the in-kind distribution is a taxable event and subject to regular IRA distribution rules per IRS Publication 590-B.
Which Gold IRA Companies Use Delaware Depository
Delaware Depository works with IRA custodians rather than directly with retail customers. Its website notes that “the majority of IRA custodians” use its services, which reflects how entrenched it is in the gold IRA supply chain.
Among publicly disclosed relationships:
- Birch Gold Group lists Delaware Depository as one of its approved storage partners on its public website, alongside Brink’s Global Services, International Depository Services, Texas Precious Metals Depository, and Texas Bullion Depository.
Other gold IRA dealers and custodians work with Delaware Depository as well, though specific relationships are often not listed publicly on company marketing pages. If you are evaluating a gold IRA company and want to confirm depository options, ask your account specialist directly and request written confirmation of the storage arrangement before signing anything.
Pros and Cons for Gold IRA Account Holders
✓ Strengths
- $1 billion all-risk insurance through Lloyd’s of London
- CME Group and ICE Futures US licensed, meeting exchange-grade standards
- SSAE 18 SOC 1 Type I audited with annual CPA review
- Fully allocated storage: your metals are your metals, not a book entry
- State-chartered trust company with no conflicting banking operations
- Two U.S. locations (Wilmington, DE and Boulder City, NV)
⚠ Limitations
- No direct account holder access: all transactions route through your custodian
- War, terrorism, and cyberattack losses are excluded from the insurance policy
- Fee schedules are set by the custodian or dealer, not by DDSC directly
- Does not serve as its own IRA custodian: you still need a separate qualified custodian
Delaware Depository vs. Other IRS-Approved Depositories
Several other depositories compete for gold IRA storage business. Here is how they compare on the publicly available details:
| Depository | Location(s) | Insurance | Exchange licensing | Notable users (publicly disclosed) |
|---|---|---|---|---|
| Delaware Depository | Wilmington, DE · Boulder City, NV | $1B all-risk, Lloyd’s | COMEX, NYMEX, ICE Futures US | Birch Gold Group (public) |
| International Depository Services (IDS) | New Castle, DE · Las Vegas, NV | Lloyd’s of London (industry-reported) | COMEX-approved (industry-reported) | Multiple dealers (no public list) |
| Brink’s Global Services | Multiple U.S. locations | Carrier-level (not published) | LBMA accredited (global) | Birch Gold Group (public) |
| Texas Precious Metals Depository | Shiner, TX | Lloyd’s of London (industry-reported) | CME-listed (industry-reported) | Birch Gold Group (public) |
Note: “industry-reported” entries are widely cited by dealers and reviewers but were not directly verified on each depository’s own website for this review. Always confirm current details with your custodian.
The practical difference between depositories, for most IRA holders, is geographic preference and custodian availability. If your custodian works with Delaware Depository, you get the COMEX/NYMEX licensing and the published SOC 1 audit record. If your custodian only works with a Texas facility, the metals still meet IRS requirements if the facility is properly approved.
How to Spot a Fake Depository: Red Flags to Know Before You Open an IRA
Precious metals storage scams have cost American investors hundreds of millions of dollars. The SEC’s Office of Investor Education and Advocacy and FINRA both publish investor alerts on this category of fraud. Common schemes include:
- Fake “IRS-approved” claims. Any depository can claim to be IRS-approved. The IRS does not maintain a public registry of approved depositories. Approval is determined by whether the facility meets the legal requirements under IRC Section 408(m) and related regulations, not by any government certification. Ask your custodian,not the dealer,for the specific legal basis for using a storage facility.
- Unallocated or commingled storage sold as segregated. Some less reputable arrangements book metals as a pooled position. If the storage provider runs into financial trouble, your metals could be pooled with other creditors’ claims. Ask for written confirmation that your metals are fully allocated and off-balance sheet.
- Home storage IRA promotions. A number of promoters have marketed “LLC IRA” structures that claim to let account holders store gold at home without penalty. The IRS has consistently held these arrangements to be distributions, triggering taxes and penalties. The Tax Court and multiple federal courts have sided with the IRS on this. FINRA’s investor alert specifically flags home storage IRAs as a high-risk scheme.
- No third-party audit documentation. A legitimate depository can produce its SSAE 18 SOC 1 report or equivalent documentation on request. If a storage provider cannot or will not share audit credentials, that is a serious warning sign.
- Insurance claims without policy details. Any storage operation worth using can tell you the name of the insurance carrier, the coverage limit, and the coverage type. If the answer is vague (“fully insured by a top insurer”), ask for the policy summary in writing.
Delaware Depository publicly discloses its audit standard (SSAE 18 SOC 1 Type I), its exchange licenses (CME Group, ICE Futures US), its insurance carrier (Lloyd’s of London), and its coverage amount ($1 billion). That level of disclosure is the benchmark to compare other facilities against.
How to Request Delaware Depository for Your Gold IRA
You do not contact Delaware Depository directly to open an account. The process works through the gold IRA company you choose, which coordinates with its approved custodian, who then sets up the account at the depository.
The typical sequence:
- Open a self-directed IRA with a qualified custodian (your gold IRA dealer will typically recommend one they work with).
- Fund the account via a rollover from an existing 401(k), traditional IRA, or other eligible retirement account, or via a direct contribution if eligible.
- Select your metals with the dealer and specify which depository you want. If Delaware Depository is an available option, you can request it at this step.
- The custodian sends purchase instructions to the dealer, the dealer ships the metals to the depository, and the depository confirms allocation to your account.
The IRS requires that you not take personal possession of the metals during a rollover. The metals must go directly from the existing account to the new IRA or from the dealer to the depository. Receiving a check payable to yourself and then trying to re-deposit it within 60 days also works in some cases, but it creates withholding and timing risks. Ask your custodian or a tax advisor for the cleanest approach for your situation.
Consult a licensed financial advisor before making retirement account decisions. We are not financial advisors.
Frequently Asked Questions
Is Delaware Depository IRS-approved for gold IRA storage?
Yes. Delaware Depository is a state-chartered trust company that meets the IRC requirements for custody and safekeeping of precious metals held inside IRAs. Metals stored there do not constitute a distribution or a collectible under IRS rules, which preserves the tax-deferred status of the account.
What metals can be stored at Delaware Depository for an IRA?
DDSC is licensed by CME Group to store gold, silver, platinum, and palladium. For IRA eligibility, the metals must also meet the IRS fineness requirements: gold at .995+, silver at .999+, platinum at .9995+, and palladium at .9995+. Collectible coins and numismatic items do not meet IRS standards for self-directed IRA holdings regardless of where they are stored. See IRS Publication 590-B for the full list of eligible metals.
Is storage at Delaware Depository segregated or commingled?
Delaware Depository offers fully allocated storage on its IRA services page, meaning your metals are identified as belonging to your account and held off the company’s balance sheet. This is the segregated model. Each account holder’s holdings are tracked separately, not pooled with other accounts.
What happens to my gold if Delaware Depository goes bankrupt?
Because DDSC holds your metals off-balance sheet and fully allocated to your account, those metals are legally your property, not an asset of the company. In a bankruptcy proceeding, fully allocated off-balance-sheet property is not available to creditors of the depository. The metals would be returned to account holders (or transferred to another custodian arrangement) rather than liquidated to pay company debts. This is a core reason why fully allocated storage is the standard for IRS-compliant precious metals IRAs. Always confirm the storage structure in writing with your custodian before funding.
Can I visit Delaware Depository to see my metals?
Visits to Delaware Depository are not a standard feature of the IRA storage relationship. Access to vault facilities is restricted to authorized personnel under dual-control procedures. If you want to inspect your holdings, ask your IRA custodian whether a vault visit or inventory statement is available under your specific account agreement. Some dealers do arrange facility visits for clients; check directly with yours.
How do I know my gold is actually there?
Delaware Depository conducts regular internal inventory audits, daily data backups, and annual reviews by certified public accountants. Its SSAE 18 SOC 1 Type I certification requires independent auditor verification that internal controls are properly designed. Your IRA custodian receives account statements from the depository reflecting your specific allocated holdings. If the statement does not reconcile with what you purchased, contact your custodian immediately and, if needed, file a complaint with the SEC or FINRA.
How do depository fees work?
Delaware Depository does not publish a direct-to-consumer fee schedule. Fees for IRA storage are typically set and collected by the IRA custodian or the gold IRA dealer, who then pay the depository on a wholesale basis. When comparing gold IRA companies, ask for a complete fee disclosure that separates custodian fees, storage fees, and any setup or transaction fees. The total annual cost of a gold IRA typically includes a custodian annual fee plus a storage fee, often ranging from $150 to $300 or more per year depending on the custodian and account size. Ask for this in writing before committing.
What should I do if a gold IRA company says my metals are “stored at Delaware Depository” but I cannot verify it?
Request a copy of the custodial agreement and the depository account statement in your name before funding. Any legitimate IRA arrangement will involve a custodian (not just the dealer) and a separate depository confirmation. If a company cannot provide written documentation that your account is held by a qualified IRA custodian and that the custodian has an active arrangement with Delaware Depository, do not proceed. You can also contact Delaware Depository directly at their Wilmington address to confirm they have a relationship with the custodian being named. The SEC investor alert on gold and FINRA’s precious metals fraud alert both outline verification steps for retail investors.
Sources
- Delaware Depository – About page (accessed 2026-05-16)
- Delaware Depository – IRA Services page (accessed 2026-05-16)
- IRS Publication 590-A: Contributions to Individual Retirement Arrangements
- IRS Publication 590-B: Distributions from Individual Retirement Arrangements
- SEC Office of Investor Education – Gold Investment Investor Alert
- FINRA – Precious Metals Fraud Investor Alert
- Birch Gold Group – Depository partners page (accessed 2026-05-16)