How you store your gold depends on whether you bought it with personal funds or retirement money. Gold IRA metals must go into a precious metals depository, which is the only option the IRS allows. Personal gold has more flexibility. A depository works well for larger amounts, but a home safe or bank safe deposit box is also an option.
Here, we’ll cover everything you need to know about storing gold. This includes how depositories work, counterparty risk, and what to know about traveling with gold.
A precious metals depository gives you professional security and full insurance, and it’s the only storage option the IRS allows for retirement-account gold.
What is a precious metals depository?
A depository is a facility that stores physical gold, silver, platinum, and palladium. These specialized facilities focus only on precious metals and are separate from your dealer or IRA custodian.
Depositories offer different types of storage:
- Segregated storage: This is where your metals stay separate from others.
- Allocated storage: In this option, your metals get stored along with others but tracked individually to your account.
If your gold is in an IRA, your custodian selects the depository. Major IRS-approved facilities include:
- Delaware Depository
- Brink’s
- International Depository Services
- Dakota Depository
For personal gold, you can choose any depository directly. Storage fees range from 0.3% to 0.95% of your metals’ value per year, depending on the total value and whether you choose segregated or allocated storage.
Where should you store gold?
Here are the main options for storing gold:
- Depository: A secure facility built for precious metals. Comes with 24/7 surveillance, full insurance, regular audits, and meets IRS rules for retirement accounts. Required for all Gold IRA holdings.
- Home safe: Direct access and no ongoing storage fees. You handle security and insurance yourself. Not allowed for IRA gold.
- Bank safe deposit box: Available at most banks. Not insured for precious metals and not FDIC-covered. Access is limited to business hours.
A quick comparison of options:
| Storage option | Security | Insurance | IRA eligible | Access |
|---|---|---|---|---|
| Depository | 24/7 surveillance, armed guards, fortified vaults, controlled access | Full coverage included | Yes (required) | By appointment or through your custodian |
| Home safe | Your responsibility | You arrange separately | No | Anytime |
| Bank safe deposit box | Standard bank security | Not covered | No | Business hours only |
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Can you store gold at home?
If you bought gold with personal funds, you can keep it wherever you want. A fireproof home safe with a hidden location is a good choice.
The benefits are that you’ll have direct access and you won’t have storage fees. But, you’ll also take on the full risk of theft and natural disasters on your own. Standard homeowner’s insurance often excludes precious metals or caps coverage well below what your gold is worth, so you’ll likely need a separate policy.
If you bought gold or silver inside a retirement account, you can’t store it at home. The IRS requires retirement-account metals to be held at an approved depository. Companies that advertise “home storage IRAs” are selling something the IRS doesn’t allow, and it can result in taxes and penalties on your entire account.
How do you insure stored gold?
If you hold gold in a depository, it’s covered by the facility’s own insurance.
If you keep your gold at home or in a bank safe-deposit box, you’ll need to check with your insurance company about policy options. Bank safe deposit box contents are not FDIC insured, and homeowner’s policies have limits on what they’ll cover for precious metals.
What is counterparty risk in gold storage?
Counterparty risk is the chance that a third party holding your assets can’t return them when you ask. Storing gold at home eliminates this risk since you hold the metal.
Both a depository and a bank safety deposit box introduce counterparty risk. But for depositories, you can reduce your risk by working with a company that offers segregated storage, full insurance, and regular audits.
How much gold can you legally own?
There’s no federal limit on how much gold you can own in the United States.
Some purchases and sales do get reported. For example, certain cash purchases over $10,000 require dealer reporting to the IRS, and sales may be taxable when you liquidate, but mere ownership is generally not reported.
Can you travel with gold?
There’s no restriction on traveling with gold. The main consideration is reporting, depending on where you’re traveling.
- United States: You can fly domestically with gold coins or bars. There are no federal restrictions, though TSA may inspect them at the security checkpoint.
- International travel: If you’re traveling outside the US, you’ll need to complete a customs declaration for gold worth more than $10,000.
Swiss America’s take on storing gold
We talk to investors every day who are deciding on storage options. For IRA clients, we ship your metals directly to your custodian’s chosen IRS-approved depository. For personal gold, the choice depends on where you feel your gold can stay secure.
If you’re looking to learn more about gold and other precious metals investing, connect with the Swiss America team today!
Precious metals depository: FAQs
What states have a gold depository?
Texas has a state-run gold depository open to private depositors. Fort Knox in Kentucky is a federal bullion depository and does not offer private storage. Other states may have private precious-metals vaults, but not state-run gold depositories.
What is the largest gold depository in the world?
The Federal Reserve Bank of New York’s gold vault is the largest. As of April 2026, the vault held about 6,331 metric tons of gold. The vault stores gold for official institutions, and most of it belongs to foreign central banks and governments rather than the New York Fed itself.
Fort Knox is the second-largest depository, holding the majority of the U.S. government’s own gold reserves.
How much does it cost to store gold in a depository?
Most depositories charge between 0.3% and 0.95% of the total value of your metals per year. Segregated storage costs more because your metals get stored in their own compartment.
Allocated storage is less expensive because metals are stored alongside other clients’ holdings but tracked individually to your account. There are additional fees for account setup, wire transfers, shipping, or account termination, in addition to the annual storage fee.
Is it safe to keep gold at home?
Yes, if you take steps to keep it secure. You accept more risk than you would with a depository, but many investors prefer the direct access.
Use a fireproof, waterproof safe rated to at least 1,500°F, and anchor it to the floor so it can’t be carried out. The fewer people who know you store gold at home, the lower your risk.
Standard homeowner’s policies can exclude or limit precious metals coverage, so you’ll probably need a separate rider or standalone policy.
Do you need to report gold you own to the IRS?
Owning gold does not require you to report it to the IRS. When you buy, dealers must report cash transactions over $10,000.
When you sell certain gold and silver products, the dealer must complete a form if the sale meets specific quantity thresholds. If you sell non-IRA gold at a profit, you’ll owe capital gains tax at the collectibles rate, which can be up to 28%.
The information in this post is for informational purposes only and should not be considered tax or legal advice. Please consult with your own tax professionals before making any decisions or taking action based on this information.
