Storing your gold is as important as possessing it in the first place. Precious metal IRAs are on the rise, and as such, the need to store gold in a secure environment has risen as well.
But how do you know which facility is the best for you? What are your concerns, and what level of security do you expect? It’s time to figure that out.
In the debate of the Delaware Depository vs. Brinks, they’re often parallel with one another, so they appeal to different investors and IRA holders. Let’s talk about which gold storage vaults are best for you, the difference between segregated storage options, and more.
Segregated Storage vs. Co-mingled Storage
Brinks and the Delaware Depository both offer segregated storage and co-mingled storage. Segregated means that your gold is stored in its own vault or secure location within the facility, but co-mingled storage means that your gold will be stored communally, meaning with gold owned by other people.
Both services understand how to track which gold belongs to who, and have practices in place to ensure your gold doesn’t get mixed up. The only difference is the pricing.
It depends on vault size, but from what we found, Brinks had more expensive segregated storage than the Delaware Depository, sometimes in excess of 3x as much.
If you go to either of their websites, you’ll find that there aren’t flat rates for your gold storage or anything along those lines. They’re usually rates that depend on the total valuation of your gold per annum, or they may be flat rates through your IRA firm.
As you might imagine, the Delaware Depository is in Delaware. It has one service location, which means that everything is routed through that one spot. That allows the Delaware Depository to focus on security of one area instead of multiple, but it also limits your in-person availability unless you’re located in Wilmington.
Key note: there is a second Delaware Depository location in Nevada, but to our knowledge it’s not nearly as used as their Wilmington facility.
With Brinks, they have over 650 services locations (not all in the US). At the end of the day, you have to wonder just how often you’re ever going to visit the location where your gold is kept, right?
It’s about accessibility, but with either option, your gold is locked up. Service locations may matter to some people, which is fine, but it’s not a critical area that you need to look at.
Brinks offers full liability for all stored assets, which in the end simply means you’re going to be covered in the event that something happens to your precious metals.
The Delaware Depository offers a $1,000,000,000 all-risk policy. Yes, you read that properly—one billion. This service is through London underwriters.
At the end of the day, you’re covered by both of these services. They understand the trust you’re putting in them, and want to make sure you’re 100% secure.
Besides simply storing the gold, there are other services offered by these facilities and custodians that ensure you get the most secure experience imaginable.
- Auditing Teams: Auditors check accuracy of deposits, work, and right any wrongs that may occur during storage or account accreditation.
- Transfers: You can transfer your gold to other facilities and other providers. Costs depend on your IRA provider.
- Reporting: Delaware Depository will share information with commercial partners, such as your IRA firm, but not with individuals. To our research, Brinks doesn’t offer this service period
- Customer Service: Even if you’re storing gold through an IRA firm, you can call either business to discuss storage options and get a hold of customer service representatives.
Discounts Through IRA Provider
IRA providers typically have preferences or partnerships with specific depositories. As of right now, it’s not a simple task to go through every gold IRA company and find out which their specific preferences are for depositories.
Some gold IRA companies also only offer storage at one or two locations, which may be related to geographical location, ease of transporting, or special private deals between companies in exchange for affiliate and partnership. It all depends on the IRA firm.
Because the cost between Brinks and the Delaware Depository can vary.
Which Gold Depository Should You Use?
It’s difficult to gauge depository differences in an era where many of these businesses have been around for 100+ years, and where services are often similar. It comes down to the little details that aren’t always super clear.
Brinks is known for having better care of facilities than Delaware Depository, but all information in those regards is anecdotal. From our findings, Brinks is more expensive, so that’s something to consider.
Regal Assets is an alternative asset investment firm that specializes in a proprietary IRA you can use to invest in both precious metals and cryptocurrencies.