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The devaluation of financial assets due to inflation is a growing concern among investors. With recent headlines highlighting inflation's potential impact, many are reassessing how it might affect their savings, stocks, mutual funds, and other assets.
Historically, investors have turned to precious metals like gold to counteract inflation's effects. Investing in precious metals IRAs offers robust protection against inflation, allowing investors to preserve and grow their savings as these metals appreciate. Modern precious metals IRAs provide ample diversification opportunities, ensuring a balanced investment portfolio.
Today, it’s possible to invest in a wide range of financial instruments without needing to liquidate your precious metals holdings. This flexibility allows you to maintain a strong position in the precious metals market while exploring other investment avenues.
To assist you in making informed decisions, we have compiled comprehensive information on the top gold IRA depositories.
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Precious Metals and Retirement Assets
Investors continue to store massive amounts of wealth in precious metals retirement accounts.
The federal government’s gold IRA-approved depositories allow investors to safely store all major precious metals, including gold, silver, platinum, and platinum-group metals (e.g. rhodium and palladium) for long-term appreciation potential.
If you’re concerned about inflation, precious metals are a historical hedge against the inflationary-driven devaluation of your savings.
Why Do You Need an IRS-Approved Depository?
The Internal Revenue Service (IRS) approves depositories to ensure that precious metals are maintained in secure vaults. An IRS-approved depository is an important consideration for investors who own physical assets like precious metals.
A gold IRA-approved depository is a must for investors seeking to own precious metals over the long term. These depositories must meet federal and state regulatory standards.
IRS’s stringent vault requirements, e.g. size, service area, management, and record-keeping capabilities are also for the benefit of precious metals investors.
In this article, we provide a summary of all gold IRA-approved depositories.
Delaware Depository Service Company
As an IRS-approved and CME-licensed exchanged precious metals depository in both COMEX and NYMEX commodities markets, Delaware Depository Service Company offers up to $1 bn “all-risk” insurance coverage.
This insurance includes up to $100,000 in coverage per package for those shipments made by mail or express carrier. The firm’s myriad clients are large and small.
Typically, however, Delaware Depository caters to broker-dealer firms, IRA custodians, retailers, refiners, commodity trading firms, and coin dealers. Clients benefit from the firm’s business tax advantages as well.
Brinks Global Services
Brinks’ authorized depositories in London and New York City make it an attractive choice for some clients.
It’s considered a preferred depository resource because of the following advantages, such as:
HSBC Bank U.S.A.
HSBC is widely recognized as a holder of precious metals. They are considered the world’s largest bullion clearance center.
They continue to rank first in gold and silver dealing (2003 to present, Risk and Energy Magazine Annual Service of Gold and Silver dealers).
HSBC, formerly known as Hong Kong and Shanghai Bank, has led precious metals clearance and depository services for many years. They’re approved by the Internal Revenue Service (IRS) as a gold IRA-approved depository.
Other interesting features about HSBC include:
JP Morgan Bank
For more than 30 years, JP Morgan has excelled in providing precious metals’ services to its customers. In 2011, it was approved as a precious metals depository. In addition, JP Morgan Global Metals provides risk management solutions and advice to its clients.
State-of-the-art precious metals vaults in London, New York, and Singapore appeal to global investors in gold, platinum, silver, rhodium, and palladium.
As an approved precious metals depository, JP Morgan Bank’s clients account for 10 percent or less of COMEX activities.
ScotiaMocatta Depository
As part of well-known Scotiabank, ScotiaMocatta Depository is considered “Canada’s gold bank.” Its long-term investing and financial roots go back hundreds of years (1671).
ScotiaMocatta is a more recent group, emerging after Scotia Capital Markets’ acquisition of Mocatta Bullion & Base (owned by Standard Chartered Bank).
As a gold IRA-approved depository, ScotiaMocatta also offers round-the-clock global markets coverage and precious metals and related services, including global physical deliveries of stored precious metals, coins, rate agreements, certificate programs, and loans-leases-consignments of these assets.
CNT Depository
As an approved COMEX depository, CNT Inc. is based in suburban Bridgewater, Massachusetts.
It’s best known as the largest raw gold seller to the U.S. government. CNT’s 35+ year track record in vault management and services results in billions in annual revenues.
It has direct storage and distribution relationships with some of the largest government mints in the world. Precious metals stored within CNT’s depository are fully insured by AAA-rated insurer Lloyd’s of London.
The depository vault space is a Class III facility offering private vault storage services. The CNT 20,000 square foot vault offers security to the world’s most discriminating precious metals clients.
Regal Assets
Alternative asset manager Regal Assets offers both precious metals depository services as well as investment advice. They’re rated in precious metals and retirement financial management in North America.
They’re an international firm with offices in the Dubai Multi Commodities Centre (DMCC). They store bullion for Middle Eastern and customers around the world. Their vault is considered one of the most secure in the world.
Regal Assets is a cost-effective choice for precious metals investors. In the first year, Regal Assets provides free storage and a flat storage fee of $250 a year thereafter. The firm accepts customers of all sizes with no withdrawal fees.
Each account is segregated so that no pooling of assets occurs. This cost platform, plus scores from all three rating agencies (BB, Trustlink, and BCA) makes Regal Assets a choice you can make if you are interested.
Precious Metals Investment and Your Retirement
Investing a percentage of your retirement assets in precious metals can be a good decision if you’re concerned about the persistent fluctuations and concerns about today’s economy.
According to Forbes Magazine, five to 15 percent of your portfolio assets should be invested in precious metals.
You may have questions about the stock market and frankly worry about the amount of outstanding debt in the United States.
It's difficult to know the direction of the stock market, the ultimate course of the COVID-19 pandemic, and how all of these factors affect the value of the U.S. dollar.
“Paper” assets, like stocks rise and fall in value. Over time, physical assets like gold, silver, platinum, and other precious metals can help you to hedge against inflation and asset volatility.
“Hard” assets like precious metals belong in most investors’ portfolios. A gold IRA-approved depository is one of the best ways to take advantage of the long-term price appreciation potential of gold, silver, platinum, palladium, rhodium, and others.
For instance, gold has appreciated more than 53 percent (2017 – 2021) and more than 552 percent over the past 20 years.
If you'd like to learn more about gold and precious metals investing, and how to choose the IRA approved depository that is best for your needs, check out these two companies below.
These are the best companies we have reviewed this year and provide excellent service and education to their clients on precious metals investing.
Best In Value
Goldco and its precious metals specialists usually go the extra mile to make sure that both existing and potential customers receive all the information needed to make an informed decision
Best In Education
The customers of Augusta Precious Metals not only enjoy low costs but also know exactly how much they are paying and for what.
It is due to this reason that Augusta finds itself as the best gold IRA company on this list due to its transparent pricing.
I started BMOGAM Viewpoints as a way to compile all my views on investing in one place. I own my home, have some real estate, and own a few stocks like most people, but what really drives my interest in investing is I have a strong love of precious metals, especially gold.
