Scam-type explainer · General education
Fake or Unapproved “Storage” Arrangements
Vague, unnamed, or non-existent vaulting instead of metal actually held at an IRS-approved depository.
General consumer education. This explainer describes an industry-wide tactic in the abstract. It does not attribute this behavior to any specific named company.
The mechanics
How this tactic works
- 01Instead of naming a recognized depository, the seller is vague about where IRA metal is actually held.
- 02In the worst cases, metal is never allocated to the buyer at all, or is commingled without proper records.
- 03Without an independent, IRS-approved depository and a real custodian, the buyer has no verifiable claim to specific metal.
Spot it early
Warning signs to watch for
Red flags
- The depository is unnamed, or the rep deflects “which approved depository holds it?”
- No independent custodian is involved in an account marketed as an IRA.
- You can’t obtain documentation showing your metal is allocated and insured.
Protect yourself
How to avoid it
Do this
- Ask which IRS-approved depository will hold the metal and whether it’s segregated or commingled.
- Confirm a legitimate, independent custodian administers the IRA.
- Insist on documentation that your holdings are allocated and insured, and verify the depository independently.
The contrast
What a legitimate dealer does instead
Signs of a real dealer
- Stores IRA metal at named, IRS-approved depositories (e.g., Delaware Depository, Brink’s, Loomis).
- Works with an independent custodian and provides clear allocation records.
- Welcomes you verifying the depository and custodian directly.
Want a repeatable process? Walk any dealer through our 5-minute verification method. If you think you've encountered this tactic, here's how to report it.
A transparent alternative
Prefer a dealer that avoids these tactics
Our featured partner competes on transparency rather than the tactics above.
Newmont Capital Group
Our top-rated featured partner: BBB A+ rated, transparent spot-based pricing, IRS-approved depository partners, and a no-obligation buyback commitment. Full details on newmontcapitalgroup.com.
- BBB A+ rating
- Transparent, spot-based pricing
- Delaware Depository, Brinks & Loomis storage
- No-obligation buyback commitment
- No-Fees-For-Life program on qualifying accounts
Reader questions
Frequently asked questions
Where is gold IRA metal supposed to be stored?
Educational content only. This content is for general education only and is not financial, tax, legal, or investment advice. Investing in precious metals carries risk, including loss of principal. Consult a licensed professional before making decisions.
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