GFN – CASPER, WY
The State of Wyoming has selected The Wyoming Reserve, a Casper-based precious-metals vaulting facility, to custody the state’s physical precious metals holdings, marking a rare move by a U.S. state to place sovereign metal reserves with an in-state, purpose-built private vault.
The decision, announced Tuesday via PR Newswire, follows several months of due diligence conducted by the Wyoming State Treasurer’s Office and reflects the state’s emphasis on sound-money policy and domestic custody of physical assets. According to the announcement, Wyoming evaluated security standards, governance, and operational integrity before selecting The Wyoming Reserve as its vaulting provider.
“We are proud and honored that the state of Wyoming has chosen to vault its precious metals with The Wyoming Reserve,” said Josh Phair, chief executive officer of the company. “This milestone affirms our role as a trusted custodian in the precious metals ecosystem and supports our long-term vision to provide secure storage for institutions and high-net-worth clients.”
Relatively few U.S. states maintain physical precious metals as part of their reserves. Among those that do, custody is typically handled by federal institutions or out-of-state commercial vaulting providers. Wyoming’s decision to utilize an in-state, purpose-built vault represents a departure from that norm and aligns with institutional custody frameworks designed to keep state-owned physical assets within state borders.
The Wyoming Reserve operates out of an approximately 70,000-square-foot high-security facility located in a designated opportunity zone in Casper. The company describes its business as focused on physical precious metals vaulting for institutional and private clients, with an emphasis on security, governance, and operational controls.
“This selection represents a meaningful expansion of our role as a vaulting provider serving institutional and private clients, and underscores Wyoming’s continued leadership in policies supporting physical precious metals ownership and storage,” said Dave McMaster, president of The Wyoming Reserve.
Wyoming has positioned itself as a favorable jurisdiction for precious metals ownership. The state imposes no tax on gold or silver and levies no corporate income, personal income, inventory, franchise, or occupation taxes. It has also been ranked first nationally for business-tax climate by the Tax Foundation and recognized as a leading “sound money” state by the Sound Money Defense League in conjunction with Money Metals Exchange.
The announcement was distributed by PR Newswire and framed as part of Wyoming’s broader effort to develop in-state financial and custody infrastructure rather than relying on federal or out-of-state facilities.
