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Last updated: July 22, 2026 · By White Metal Resources Editorial
Quick answer: Precious metals depository fees are the annual bill an IRS-approved vault charges to hold, insure, and audit the physical silver, gold, platinum, or palladium inside your IRA. For common bullion, commingled storage typically runs about $100 to $300 a year, and segregated storage typically runs about $150 to $500 a year. Some vaults publish a flat schedule. Others charge basis points on the metal's insured value.
Storage is one line inside the total cost of a precious metals IRA, and it is rarely the biggest line. Fixed storage fees weigh most heavily on small accounts, where a $200 annual bill can be 2% of the balance. Silver-heavy accounts sit toward the top of each range because silver is bulkier per dollar than gold.
Short on time? The essentials
- Storage fees are set by the depository, not the custodian, and they are separate from custodian administration on your statement.
- Federal statute at 26 U.S.C. Section 408(m)(3)(B) requires IRA bullion to sit in the physical possession of a bank or an IRS-approved non-bank trustee, so paying a depository is not optional.
- Commingled storage for common bullion typically runs about $100 to $300 a year. Segregated storage typically runs about $150 to $500 a year, and can be higher for premium products or larger balances.
- Flat annual storage fees hurt small accounts most. A fixed $200 bill is 2.0% of a $10,000 account and 0.2% of a $100,000 account.
- Some vaults charge basis points on the metal's insured value instead of a flat dollar amount. On very large accounts, a flat schedule often wins.
- Silver, platinum, and palladium accounts often sit at the top of each fee range because more physical ounces per dollar means more vault space, more insured value per shelf, and more handling.
- The storage fee is bundled with insurance and audit at most reputable vaults. Ask for the certificate of insurance and the audit schedule before you fund.
- Storage is important. Dealer markup at purchase is usually a much bigger dollar figure over a lifetime, so read the whole schedule together.
This page compares what different depositories charge to store IRA metal, why the ranges land where they do, and how the storage line interacts with the rest of a precious metals IRA bill. Every claim below traces to statute, an IRS publication, or an industry-reported range. If you plan to send silver, platinum, or palladium into an approved vault, the fee schedule is one of the four documents to read before you sign.
What are depository storage fees?
A depository storage fee is the annual charge an IRS-approved vault levies for taking physical possession of your IRA metal, insuring it, and running the audits that keep the account compliant. The fee is paid by the IRA, so it comes out of the account each year, not out of your pocket outside the account.
The reason this fee exists at all is a statute, not a marketing choice. Under 26 U.S.C. Section 408(m)(3), IRA bullion must sit in the physical possession of a bank or an IRS-approved non-bank trustee (source: Cornell Legal Information Institute, 26 U.S.C. Section 408).
The IRS restates the physical-possession rule in its Issue Snapshot on collectibles (source: IRS, investments in collectibles). A home safe cannot replace the vault. The Tax Court applied the rule against the taxpayers in McNulty v. Commissioner in 2021.
Worth knowing: the storage fee is a line on the depository's schedule, not the custodian's. Your custodian may collect it on the depository's behalf, but the pricing is set by the vault. That is why the same custodian can quote different storage fees for accounts that sit in different vaults.
The industry-reported ranges by storage model
Depositories offer two storage models, and each carries its own price band. The label changes what the account owns on paper, not whether the metal is insured. Both are covered by the vault's private all-risk policy. See how depository insurance works.
Commingled storage pools like-for-like metal from many accounts. Your IRA owns an audited share of the pool. When you take a distribution, you receive equivalent coins or bars of the same specification. Commingled storage is cheaper per year because the vault is used more efficiently.
Segregated storage keeps your specific coins or bars physically apart. On distribution, you get back the same pieces you deposited. Segregated storage costs more because it uses more vault space and more tracking. See segregated vs commingled storage.
| Storage model | What the account owns | On distribution | Illustrative annual range |
|---|---|---|---|
| Commingled (allocated share of a pool) | An audited share of a like-for-like pool of the same metal, purity, and product class. | Equivalent coins or bars of the same specification, not the exact pieces you deposited. | About $100 to $300 for common bullion. |
| Segregated (specific coins or bars) | Specific numbered coins or identifiable bars titled to the IRA. | The same pieces you deposited, by serial number or product identifier. | About $150 to $500 for common bullion; higher for premium products or larger balances. |
| Basis-point pricing (either model) | Same as above, priced as a percent of insured value. | Same as above. | Roughly a few tenths of a percent per year on insured value; varies by vault. |
Ranges are industry-reported and illustrative, not a quote from any depository. Actual dollar amounts vary by vault, storage model, product mix, and account size. Ask for the current schedule. Checked June 2026.
Three names show up on most silver, platinum, and palladium IRA setups. Delaware Depository operates a purpose-built precious-metals vault in Wilmington, Delaware. International Depository Services runs vaults in Delaware and Texas. Brink's Global Services provides US precious-metals vaulting from locations including New York, Salt Lake City, and Los Angeles (sources: Delaware Depository; International Depository Services). Each vault sets its own schedule, and each custodian negotiates its own referral pricing on top.
Flat storage fees vs basis-point storage fees
Depositories use two pricing structures. A flat schedule locks in a dollar amount per year, regardless of how much metal you hold. A basis-point schedule locks in a rate, priced as a percent of the metal's insured value. Which one is cheaper depends only on your balance.
| Account balance | Flat $200 per year | Basis-point fee at 25 basis points (0.25%) | Which is cheaper |
|---|---|---|---|
| $25,000 | $200 (0.80%) | $62.50 (0.25%) | Basis-point fee |
| $50,000 | $200 (0.40%) | $125 (0.25%) | Basis-point fee |
| $80,000 | $200 (0.25%) | $200 (0.25%) | Break-even |
| $150,000 | $200 (0.13%) | $375 (0.25%) | Flat fee |
| $500,000 | $200 (0.04%) | $1,250 (0.25%) | Flat fee |
Illustrative comparison at hypothetical rates. Actual depository fees vary; ask for the current schedule. Checked June 2026.
The break-even sits close to $80,000 at these illustrative numbers. Under that, a basis-point schedule tends to win. Above it, a flat schedule usually wins by a wide margin at the sizes retail savers actually hold. Larger accounts sometimes still choose the basis-point schedule when it comes bundled with segregated storage at a favorable rate. See every silver IRA fee bucket and custodian fees vs dealer markups.
Why silver, platinum, and palladium can sit at the top of each range
Storage fees for white metals often land at the higher end of the reported ranges. The reason is physical, not policy. Silver, platinum, and palladium sell for far less per ounce than gold, so the same dollar buys many more ounces of white metal, and those ounces take up more vault space.
More ounces means more shelf space, more insured value per cubic foot, and more handling on any inbound or outbound shipment. Vaults price that in. Some charge a flat fee that covers common bullion of any type. Others charge by weight or by the insured value of what is on the shelf, and white metals move that dial more than gold does per dollar. See silver IRA vs gold IRA for the broader trade-off.
Platinum and palladium have an additional wrinkle. Product supply is narrower than for silver or gold, so a segregated arrangement can involve a smaller product set and more careful sourcing. That does not always change the storage line, but it can change the total cost of a rebalance or a distribution, which is worth asking about up front.
What the storage fee actually pays for
The annual storage line is not just rent on a shelf. Reputable depositories bundle three things into that number, and it is fair to ask the vault to itemize each one on request.
Physical custody is the first component. The metal is titled to the IRA and stored under contract, so the vault takes on the duty of care from the moment it arrives.
Insurance is the second. Depositories buy a private all-risk cargo-and-vault policy from a specialty carrier, most often through Lloyd's of London syndicates, and the premium is included in what the account pays. See how depository insurance for IRA metals works for what the certificate should show.
Audit is the third. Reputable depositories run a physical inventory audit and a financial audit, and most publish or provide an annual summary on request.
Worth knowing: a vault that will not itemize what the storage fee covers, or will not produce a current certificate of insurance, is a vault to avoid. The number on the invoice is the easy part. The paperwork behind it is what protects the account if something goes wrong.
How storage fees drag on account returns
A flat annual storage fee shrinks as a percent of the account only when the account grows. On a small balance, the same $200 bill is a large percent. On a large balance, it is a small percent. The chart below shows the arithmetic.
Storage is only one part of the account's total carrying cost. Custodian administration, wire fees, and any dealer spread stack on top. The calculator below models how flat annual fees, including storage, compound against a real balance over time. Enter your balance and a fee rate to see the drag.
Precious metals IRA fee-drag calculator
Precious metals IRAs charge mostly flat dollar fees (setup, annual custodian, storage). Flat fees take a much bigger bite out of a small account than a large one. Enter your numbers to see the drag.
Estimate only. Fee amounts vary by provider and are often not published; enter figures you confirm in writing. This tool ignores metal price changes and the dealer spread, which also affect returns. Not financial advice.
Worked example: storage on a $75,000 white metals IRA
Picture a saver who moves $75,000 from a former-employer 401(k) into a precious metals IRA weighted toward silver, and picks commingled storage at a mid-range depository. Assume a $200 annual storage fee for the commingled shelf, a $150 annual custodian administration fee on top, and a plan to hold for 10 years before taking a full distribution at retirement.
- Storage as a percent of the account: $200 divided by $75,000 equals 0.27% per year at opening.
- Custodian administration as a percent of the account: $150 divided by $75,000 equals 0.20% per year at opening.
- Combined annual carry (storage plus custodian): $350 divided by $75,000 equals 0.47% per year at opening.
- If the saver upgraded to segregated storage at, say, $350 a year, storage alone would rise to 0.47% per year and the combined carry to 0.67%.
- Ten-year nominal storage cost at $200 per year: 10 times $200 equals $2,000 in stated dollars.
- Ten-year nominal combined storage-plus-custodian cost at $350 per year: 10 times $350 equals $3,500 in stated dollars, before any dealer spread on the eventual sale.
The storage line is real, and it compounds. It is also small next to the dealer markup on the initial purchase, which at 5% of $75,000 would be $3,750 up front. The lesson is to read every fee in the same document. Numbers above are illustrative and not a quote from any depository. This is an illustration, not financial advice; consult a licensed advisor for your situation.
Two takeaways come out of the math. First, storage at a fair vault is a workable cost when the account is large enough to absorb it. Second, the biggest single check is almost always the dealer markup, not the storage line. Read the schedule in full before you decide.
How to vet a depository fee schedule in writing
Vetting storage fees is a checklist, not a debate. Every item below can be requested from a custodian and confirmed with the depository before you fund the IRA. A firm that meets every step is a firm operating in daylight.
- Ask for the depository name and the published schedule. The schedule should show the storage fee for both commingled and segregated models, and whether pricing is flat or basis-point.
- Confirm what the storage fee includes. Physical custody, insurance, and audit should all be inside the number, or itemized separately with totals that add up.
- Request the certificate of insurance for the vault. The certificate should name the carrier, the syndicate reference, the per-loss limit, the annual aggregate, and the effective and expiration dates.
- Ask about product-mix or bulk premiums. Silver-heavy accounts and premium coin holdings can sit at the top of the range. Confirm whether your mix triggers a higher tier.
- Confirm inbound and outbound shipment fees separately. A cheap storage line can mask a pricey shipment fee at the beginning or end of the account life.
- Get everything on one page. A one-page schedule that covers storage, insurance, audit, and shipment is easier to compare across vaults than a scattered quote.
See how to vet a self-directed IRA custodian and how precious metals markets are policed for the regulator backdrop. A depository that resists any of the six steps above is telling you something.
When depository storage fees make the account a bad idea
A precious metals IRA is a good fit for some savers and a poor one for others. The storage line is one of the reasons the math can argue the wrong way, so here is when it does.
- A small balance against a fixed storage fee. On a $10,000 account, a $200 storage bill is 2% a year, before custodian administration, before any dealer markup, and before any price change in the metal. Small accounts rarely absorb that drag.
- A short holding horizon. Storage compounds every year the account stays open. If you may need the money within a few years, the round trip through the dealer spread twice plus recurring storage can wipe out a modest gain. Before age 59.5, the 10% federal additional tax also applies unless a Section 72(t) exception fits (source: IRS Publication 590-B).
- A very silver-heavy account against segregated storage. Silver at segregated pricing can sit near the top of the reported range, and premium-coin storage can be higher still. Ask before you commit.
- A schedule that will not itemize what the storage fee covers. A vault that will not confirm insurance and audit in writing is a vault that may not deliver either. See how depository insurance works for the certificate detail.
If one of these describes you, slowing down is the sensible call. Coverage on the wall does not fix a mismatched plan, and the storage line does not go away. There is no CTA in this section on purpose.
Depository storage fee questions, answered
What are precious metals depository fees?
Depository fees are the annual charge an IRS-approved vault levies for physical custody, insurance, and audit of the IRA metal. For common bullion, commingled storage typically runs about $100 to $300 per year, and segregated storage typically runs about $150 to $500 per year. Ranges are industry-reported and vary by vault, storage model, and account size.
Why do I have to pay a depository at all?
Under 26 U.S.C. Section 408(m)(3), IRA bullion must be in the physical possession of a bank or an IRS-approved non-bank trustee, and the IRS restates the physical-possession rule in its Issue Snapshot. Home storage of IRA metals is not permitted, and the Tax Court applied the physical-possession rule against the taxpayers in McNulty v. Commissioner in 2021.
Is segregated storage worth the higher fee?
Sometimes. Segregated storage keeps your specific coins or bars apart, so on distribution you get back the same pieces you deposited. For common bullion at a saver's account size, commingled storage is functionally close and cheaper. Choose segregated if you plan to distribute specific numbered pieces in kind, or if a written insurance term requires it.
Do silver, platinum, and palladium accounts pay more for storage?
Often yes, at the same account balance in dollars. White metals sell for far less per ounce than gold, so the same dollar buys many more physical ounces, which means more vault space and more insured value per shelf. Some vaults charge a flat fee. Others price by weight or insured value, and white metals move that dial more than gold does per dollar.
Are depository storage fees tax-deductible?
Fees paid directly from the IRA are not separately deductible on your federal return. They already reduce the account balance pre-tax, which is why savers watch them closely. Fees paid outside the IRA are generally not deductible either under current federal rules. Consult a tax advisor for your situation.
Do depository fees change over time?
Yes. Depositories can revise their published schedules, and custodians can renegotiate referral pricing with vaults. Ask each firm whether the schedule you receive is the current one, and whether any change would be communicated in writing before the next billing cycle.
Are depository fees regulated or capped by law?
No. Federal law requires the physical-possession structure at Section 408(m)(3) but does not cap what a vault can charge. Regulator roles cover fraud and market manipulation, not price control. That is why the fee schedule is worth reading in full before you sign, and why we recommend comparing at least two vaults.
Is a lower storage fee always the better deal?
Not always. A very low storage line paired with high inbound or outbound shipment fees, a wide dealer spread, or a schedule that hides audit costs can end up more expensive than a mid-range storage fee at a vault that itemizes everything. Compare the full schedule, not one number.
Sources
- Cornell Legal Information Institute, 26 U.S.C. Section 408 (individual retirement accounts, physical-possession rule at 408(m)(3)(B)). Checked June 2026.
- Internal Revenue Service, investments in collectibles in individually directed qualified plan accounts (Issue Snapshot). Checked June 2026.
- Internal Revenue Service, Publication 590-A, Contributions to Individual Retirement Arrangements. Checked June 2026.
- Internal Revenue Service, Publication 590-B, Distributions from Individual Retirement Arrangements. Checked June 2026.
- Delaware Depository, official website. Checked June 2026.
- International Depository Services, official website. Checked June 2026.
- London Bullion Market Association, Good Delivery (refiner standards for IRA-eligible bars). Checked June 2026.
- U.S. Commodity Futures Trading Commission, Release 8260-20 (JPMorgan order covering gold, silver, platinum, and palladium futures). Checked June 2026.
