CNT Depository: IRA Storage Options, Insurance and Fees
CNT Depository is the storage arm of CNT, Inc., a privately owned precious metals company. By its own account it offers only segregated, allocated storage, lists IRA storage as a service, and carries insurance through Lloyd's of London. A Massachusetts address and a custodian's fee form appear in outside documents; CNT's own pages publish no rates.
This page summarizes what CNT Depository says about itself and what we could confirm from other documents. Statements marked "according to" are the company's own claims, and we have not tested them. We do not rank depositories. For the wider picture, see our guide to IRA-Approved Depositories.
What is CNT Depository?
CNT Depository, Inc. is the vault business of CNT, Inc. According to the CNT home page, CNT "began as a small, family-owned, precious metals business in 1972" and is in its "third generation of single-family ownership." The same page also lists a privately owned bullion mint and a precious metals markets operation, which it describes as providing "competitive two-way physical markets." Its description of itself as "the largest privately-owned company in the precious metals industry" is a marketing claim, and we found no independent source for it.
The depository page describes a "privately owned, free-standing, 63,000 ft2 facility." It gives no street address or city. Two outside documents help:
- A CME Group notice dated April 5, 2013 describes CNT Depository as "a COMEX Licensed Warehouse" in Bridgewater, Massachusetts.
- The Entrust Group's election form lists CNT at 722 Bedford Street, Bridgewater, MA 02324.
Neither document is from CNT, and the CME notice is more than a decade old. We infer that the facility is in Bridgewater but could not confirm it from CNT's own pages. Ask which site would hold your metal.
What storage does CNT Depository offer?
According to the FAQ, "CNT Depository only offers segregated, allocated storage," and "at no time is your metal comingled with other metal." The depository page says the client receives the same metal that was deposited. Our guide to segregated vs. commingled storage explains why that matters.
| Feature | What CNT says |
|---|---|
| Storage type | Segregated and allocated only |
| Customers | Individuals, corporations and governments; wholesale and individual accounts |
| IRA storage | Listed as a service |
| Exchange storage | "CME storage" is listed |
| Return of metal | The same metal that was deposited |
The FAQ says a wholesale account needs documents for PATRIOT Act compliance, corporate structure papers and a resale certificate. For an individual account, "you must meet all account set up requirements," and transactions must meet a minimum dollar threshold. The FAQ does not say what that threshold is.
Can an IRA use CNT Depository?
CNT lists "IRA storage" among its services, but its pages do not explain how IRA accounts are set up. The FAQ covers only wholesale and individual accounts.
An IRA's metal must be held by a bank or an IRS-approved nonbank trustee. The IRS FAQ on IRAs says that if an IRA invests in collectibles, "the amount invested is considered distributed in the year invested," and it describes an exception for certain bullion held by such a trustee. In practice, an IRA owner uses a custodian, which then arranges storage. Whether a particular arrangement satisfies the rules is a question for your custodian and a tax professional. This is our reading of the IRS page, not legal advice.
One custodian publishes a CNT form. The Entrust Group's election form says CNT "offers segregated storage for your IRA as Individual Sub-Accounts of Entrust." That tells us The Entrust Group has an arrangement with CNT. The form carries a version date of 09.08.2016, more than nine years old, so we cannot say if it is current. Our profile of The Entrust Group covers that custodian. We did not check which other custodians work with CNT.
What does CNT say about insurance and audits?
On insurance, the depository page says its "facility is insured through Lloyd's of London" for the time the metal is in its care. The FAQ says CNT Depository "carries a comprehensive insurance policy through Lloyd's of London." We could not read the policy. Limits, deductibles and exclusions matter, and neither page gives them. See our guide to insurance for stored metals.
On audits, the depository page says "monthly internal audits are performed along with yearly external audits." Clients can arrange a private audit of their own material. It does not name the outside auditor or what the audit covers. An outside audit is not the same as a count of your metal, so ask what is checked and see our guide to verifying your metals.
The page also describes a "Class 3 UL-rated building" and says CNT is a licensed storage facility and weighmaster for COMEX silver, platinum and palladium futures, and a licensed storage facility for ICE gold and silver futures. We did not check those licenses with the exchanges. The 2013 CME notice supports a COMEX warehouse license as of that date only. The company shows logos for other industry groups, but its pages do not explain what they cover, so we do not rely on them.
What does it cost?
CNT's own pages publish no fee schedule. The FAQ says "the most current fee schedule is found in the documentation presented" when you open an account, and points to a customer service number for questions.
One outside document lists fees. The Entrust Group's election form shows the following for IRA accounts held through that custodian. The form carries a 2016 version date, and it does not say whether the amounts are current.
| Item | Amount on the form |
|---|---|
| Storage | $1.00 per $1,000 (10 basis points) |
| Minimum annual fee | $175.00 |
| Out-shipment | $25.00 minimum per out-shipment |
| Carrier shipping | $25.00 per package handling fee plus postage, registration and insurance |
The form says billing starts "the day CNT receives your first metals deposit and every January thereafter," with a pro-rated first year. It lists personal pick-up, USPS, UPS and FedEx as shipping options. Your custodian may add its own charges. Ask the custodian to show every storage and shipping charge in writing. For how these costs fit together, see Gold IRA fees.
What questions should you ask before using it?
- Which site will hold my metal, and what is its address?
- Which custodians place IRA metal there today?
- What exact storage, shipping and minimum fees apply to my account, and who sets them?
- Can I see the insurance certificate, limits, deductible and exclusions?
- Who performs the external audit, and can I see the latest report?
- How are withdrawals, transfers and distributions handled through my custodian?
For another depository that serves IRAs, see our profile of the Texas Bullion Depository.
What we did not check
We did not search for lawsuits, regulator complaints or consumer-review records about CNT, so this page makes no statement either way. CNT's own pages do not mention IRAs beyond one line in a services list, and we did not open a CNT account application or custody agreement. This profile will be rechecked on the schedule in our update policy.
Sources
- Depository - Redefining the Secured Storage Experience, CNT, Inc.. Accessed Invalid Date.
- Frequently asked questions, CNT, Inc.. Accessed Invalid Date.
- CNT, Inc. (home page), CNT, Inc.. Accessed Invalid Date.
- CNT Depository Election Form (Precious Metals Depository Holdings Election Form, version date 09.08.2016), The Entrust Group. Accessed Invalid Date.
- Notification of New Storage Rates for Precious Metal Depository CNT Depository (notice dated April 5, 2013), CME Group. Accessed Invalid Date.
- Retirement plans FAQs regarding IRAs, Internal Revenue Service. Accessed Invalid Date.
This guide is general education, not personalized financial, tax or legal advice. See our financial disclaimer, editorial policy and advertising disclosure.