Delaware Depository: Best Gold IRA Storage?

FTC Disclaimer for Augusta Precious Metals

Delaware Depository is a well-known brand in the precious metals storage market for those seeking a secure location where they may store their bullion while still having easy access to it.Delaware Depository

Our article will explain their background, location, contact info, and the fees of securing your precious metals with the Delaware Depository Services Company (DDSC). 

Before we begin, if you want to learn more about starting a gold or silver IRA, please click here to get your free gold IRA kit.

Depository Background

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Those who want a secure place to hold gold, silver, platinum, or palladium bullion may turn to Delaware Depository, a limited-purpose trust company serving this purpose since 1999. Augusta Precious Metals customers may rest assured that the premises of the Delaware Depository are secure and that all regulations are set out by the Internal Revenue Service (IRS).

Their state-of-the-art vaults comply with UL and the Bank Protection Act, ensuring the utmost protection for all valued clients’ precious metals. Although some clients keep their gold IRA assets at home, collaborating with a depository, like the Delaware Depository, offers several significant advantages. The safety of your precious metals is a primary consideration when choosing a precious metals depository

Possessing your bullion close at hand is pleasing, but nothing beats the safety of a professional depository. Using an at-home storage option might put you at risk of hefty non-compliance fines and additional legal complications because of the strict regulations imposed by the IRS on establishing and maintaining precious metals IRAs. Having experts take care of it removes administrative burdens in the long run.

Businesses and investors alike may use the first-rate storage for real precious metals offered by the Delaware Depository company, which has facilities certified by the exchange. Holding a license from the CME Group (NYMEX and COMEX Divisions) to store gold, silver, platinum, and palladium, the Delaware location is the biggest depository of precious metals in the US other than New York City. 

Delaware Depository Location

Both the Wilmington, Delaware and Boulder City, Nevada branches of the Delaware Depository are available to Augusta Precious Metals customers who choose to store their metals there. These depositories are advantageous because they are accessible despite their remote location from important political and financial hubs. Simultaneously, they make use of the tax legislation specific to their state. 

There are two locations of the Delaware Depository:

  • 3601 North Market Street, Wilmington, DE 19802.
  • 1009 Industrial Road, Boulder City, NV 89005.

Delaware provides depositories with a plethora of tax advantages. No state applies net worth, personal stock, or transfer taxes when one buys metal, and no nexus status is created for income taxes when one buys gold. 

Your place of business will be situated close to Sparc Welding if you choose the Delaware Depository branch in Boulder City, Nevada. Just off Interstate 11, which leads directly to Las Vegas, is BUS-93, making it a quick journey to the destination. 

Since Nevada does not collect individual income taxes, residents who keep their precious metals in a depository and sell them or cash them in from an IRA are not subject to incurring capital gains tax. 

Contacting Delaware Depository

Contact information for Delaware Depository is as follows:

  • Phone number: (302) 765-3889
  • Fax number: (302) 762-2674
  • Email address: ddsops@delawaredepository.com
  • Hours of Operation: 8am – 4:30pm Mon-Thurs EST / 8am – 3:00pm Fri EST

Benefits of a Depository

The responsibility of safely keeping precious metals for large commodities exchanges, organizations, businesses, and investors is one that the Delaware Depository considers seriously. By combining state-of-the-art security personnel with cutting-edge physical and digital safety technologies, it achieves its goal of creating the safest facilities on the planet. 

You may get a better sense of the safety measures used by Delaware Depository by paying a personal visit to their premises. Clients of Augusta Precious Metals have the option to schedule a personal viewing of their precious metals by contacting the depository. The state-of-the-art vaults of the Delaware Depository are a great choice for storing your bullion.

They offer the following:

  • State-of-the-art security
  • $1 billion in insurance coverage
  • Off its balance sheets
  • Fortified buildings
  • Audit and reporting
  • Tax benefits
  • Customer service

In order to provide customers with extra security, the Delaware Depository has $1 billion in “all-risk” insurance, which includes $100,000 per cargo transportation insurance. 

Delaware Depository Fees

The website claims that Delaware Depository’s fees are among the most competitive in the industry, yet the actual rates are not made public. 

Segregated storage is $1.80 for $1,000 invested (with a $220 minimum), whereas commingled storage is $1.00 per $1,000 financed (with a $125 minimum), according to one source.

Rumor has it that there’s a $95 minimum and a $0.80 per $1,000 storage cost for precious metals IRA assets, including gold, platinum, palladium, and silver. 

If you desire commingled or separated storage is entirely up to you. The bullion will be stored in an independent locker, providing an additional layer of protection for those who wish it. 

Final Thoughts

Although holding precious metals in one’s home sounds appealing, doing so presents several security risks. The Delaware Depository has state-of-the-art security features, including 24-hour guards, access restrictions, alarm systems, and more, to guarantee the safety of your precious metals if you decide to keep them there. 

You must keep your assets in a licensed depository to satisfy IRS regulations and create a gold or silver IRA, which gives tax advantages and protects wealth from a falling currency. Numerous investors choose the Delaware Depository for its outstanding insurance, cutting-edge security, and additional tax perks.

If you’re considering adding precious metals to your retirement portfolio or buying them as a hedge against an unstable economy, you’ll want a secure location to keep your bullion. Contact Augusta Precious Metals to inquire about precious metal acquisition and safe storage options at the Delaware Depository.