Delaware Depository Review: Reliable Gold & Silver Safekeeping?
When protecting your investment with Delaware Depository, security and trust are paramount. In this Delaware Depository review, we rigorously examine their storage facilities, insurance coverage, compliance standards, and customer testimonials. Find out if their A+ BBB-rated services match your precious metals storage needs without excess jargon or complexity.
Delaware Depository provides secure and comprehensive precious metals storage services with advanced security measures including 24/7 video surveillance, UL-rated vaults, and multiple sensory alarms.
The depository offers strategic financial benefits like sales tax exemption on precious metals in Delaware and a $1 billion all-risk insurance coverage provided by Lloyd’s of London for stored assets.
Delaware Depository caters to a diverse range of clients, including individual investors and financial institutions, and it complies with rigorous standards like IRS requirements for IRA custody, providing trust and credibility in its services.
Exploring the Delaware Depository: An Overview
For more than two decades, Delaware Depository has stood as a beacon of trust in the realm of precious metals storage. Established in 1999, this depository boasts:
An impressive track record
An A+ rating from the Better Business Bureau
High endorsements from major precious metals traders such as Goldco, Noble Gold, and Augusta Precious Metals
These achievements are a testament to its unwavering commitment to client satisfaction and its sterling reputation.
Strategically situated in Delaware, away from major political and financial centers, the depository provides an additional layer of security, shielding its clients’ assets from potential threats that might affect businesses in these hubs. The services offered by Delaware Depository are comprehensive, catering to a broad spectrum of clients. From precious metals bullion custody and safekeeping to distribution services, Delaware Depository is a one-stop solution for all your precious metals storage needs.
The Cornerstone of Precious Metals Security
Delaware Depository prioritizes the security of your valuable assets. This is why the depository implements advanced security controls, including:
24/7 video surveillance
Motion, sound, and vibration sensors
Stringent internal controls
These measures are not merely for show. They have been tested and proven effective in preventing theft or damage, earning Delaware Depository the trust of investors across the globe.
However, it is not just about preventing unauthorized access. The depository’s security measures also stand up to scrutiny. In fact, they have undergone rigorous federal investigations and CFTC charges related to incidents involving ongoing fraud and missing precious metals. Such rigorous checks ensure that the Delaware Depository maintains the highest standards of precious metals custody.
Cutting-Edge Security Systems
The security apparatus at Delaware Depository is cutting-edge. Its advanced security measures make it a trusted choice for investment banks and other financial institutions looking to store precious metals and other valuable assets. An integral part of this security system is the alarms, specifically designed to detect unauthorized motion, sound, and vibration, thereby enhancing the overall security of the customer’s assets.
Metal detectors also play an essential role in the depository’s security, which form multiple layers within the comprehensive monitoring system. Their role is to identify any metallic objects, further reinforcing the security of customer assets.
In addition, the time locks at Delaware Depository are key to ensuring vault security. They incorporate automatic re-locking mechanisms and mandate multiple authentication procedures prior to granting access, making it a reliable choice for brokerage firms and other financial entities.
Insurance and Peace of Mind
Recognizing that even the strongest security systems require a backup, Delaware Depository provides one. This is why it provides a $1 billion insurance policy through Lloyd’s of London, which offers coverage for all risks to the stored assets, with the exceptions of cyber attacks and acts of war. Lloyd’s of London, as the underwriter for the insurance policy, offers financial support and guarantees full insurance coverage for the storage of precious metals.
In addition to this, Delaware Depository maintains a minimum of $1 billion in insurance coverage for each of its vaults or secure facilities. The company operates without debt and refrains from lending, pledging, or encumbering any bullion, thus safeguarding customers’ assets from potential creditors and bolstering overall asset safety.
Strategic Advantages of Storing with Delaware Depository
Choosing Delaware Depository for precious metals storage comes with many strategic advantages. One of the most significant advantages is the sales tax exemption for stored bullion and coins in Delaware, making Delaware Depository a cost-effective storage solution. The depository’s location in a state with no sales tax on the purchase, administration, or storage of precious metals can provide significant financial advantages for investors.
In addition to these fiscal advantages, Delaware Depository also has a policy of accepting global shipments. This commitment to dispatching shipments within two business days upon delivery makes it a convenient choice for those who buy precious metals from around the world.
Comprehensive Services for Diverse Needs
A key feature of Delaware Depository is its capability to serve a varied clientele. Whether you are an individual investor or an investment bank, Delaware Depository has a solution tailored to your specific requirements. The depository also forms partnerships with financial institutions such as the CME Group and CUSIP Global Services, ensuring a high level of trust and credibility.
For Gold IRA companies, a gold IRA company like Delaware Depository offers precious metals safekeeping and shipping services tailored to their needs, making it a reliable choice for storing precious metals. The diversity of services is also enhanced by the depository’s comprehensive facilities for storing precious metals and the geographic diversification of bullion holdings they offer.
Tailored Solutions for Investors
Leveraging its expertise, Delaware Depository offers personalized solutions to meet the unique needs of individual investors. This is overseen by seasoned precious metals professionals, ensuring the security and safeguarding of their investments. Alongside this, Delaware Depository offers the following services:
Oversees private account activity for investors
Maintains the utmost confidentiality and privacy of personal information and transactions
Ensures the security of customer assets
The precious metals depository providing individual investors with top-tier storage facilities is authorized for trading physical precious metals. It also offers tailored custody, safekeeping, and distribution services for IRA investors looking to store IRA assets.
Partnership with Financial Entities
Partnership with Delaware Depository brings numerous benefits for financial entities, including:
Comprehensive all-risk insurance coverage
Assurance of well-protected assets with industry-leading experience and physical security
Audited internal controls
Geographic diversification of bullion holdings
Furthermore, Delaware Depository adheres to the Internal Revenue Service’s rigorous requirements for IRA custody and the safekeeping of precious metals, offering financial entities like IRA custodians the assurance that their assets are safeguarded according to industry standards.
Delaware Depository is recommended by some of the largest gold IRA companies due to its extensive experience in storing IRA assets in accordance with IRS regulations. Its practice of allocating bullion to the account owner provides a streamlined method for segregated storage.
Customer Experience and Support
Delaware Depository prides itself on providing exceptional customer service. Known for its responsiveness and friendliness, the depository’s customer support enhances the overall experience for clients and ensures the proper handling of customer assets. Delaware Depository provides customer support through various channels including:
Contact form on their website
This ensures effective communication and helps to protect customer assets, maintaining their security.
Managing customer complaints and feedback is a top priority for Delaware Depository. By leveraging their BBB accreditation and offering transparent contact information, the depository enables customers to communicate their concerns or feedback effectively.
The Assurance of Compliance and Accreditation
Delaware Depository is thoroughly meticulous with respect to compliance and accreditation. It:
Adheres to BBB accreditation standards and certification requirements implemented by SOX
Is an approved depository for gold, silver, platinum, and palladium by Intercontinental Exchange Futures U.S. (ICE)
Meets the Internal Revenue Service’s requirements for IRA custody and safekeeping of precious metals
To ensure strict compliance with industry standards, Delaware Depository embraces strict adherence to:
Financial and material event disclosures
Refining their processes
Maintaining state-of-the-art security facilities
Fulfilling the Internal Revenue Service’s standards for IRA custody and precious metals safekeeping
Furthermore, Delaware Depository undergoes audits on a quarterly basis, ensuring the highest standards of security and compliance.
Navigating Fees and Costs
It’s vital to comprehend the fees and costs related to storing precious metals at Delaware Depository to make well-informed decisions. The storage fees at Delaware Depository for precious metals are designed to be highly competitive, providing a cost-effective solution for those looking to store precious metals. The depository determines its storage fees by utilizing a daily storage fee that is invoiced semi-annually, offering a transparent pricing structure.
The fee structure is further determined by the quantity or value of the precious metals stored, offering a flexible and cost-effective solution. In addition to storage fees, there are extra charges, including a $25.00 per package handling fee for shipments within the United States, ensuring a transparent pricing structure.
Expansion and Accessibility
Delaware Depository is consistently expanding and evolving, recently expanding its operations to Nevada, offering additional options for those looking to store precious metals in a secure and cost-effective manner. This new Nevada depository is conveniently located west of the Mississippi, providing a strategic location for those looking to store IRA assets and other precious metals.
This expansion doesn’t just increase Delaware Depository’s footprint; it also enhances its accessibility for clients. The new location offers the same high level of security and service as the original location, thereby improving the accessibility of Delaware Depository for clients interested in precious metals storage. The decision to expand came as a result of a partnership with Equity Trust, broadening Delaware Depository’s precious metals storage options.
Delaware Depository stands out as a leading choice for precious metals storage, offering an array of features and services that cater to a diverse clientele. Its state-of-the-art security systems, comprehensive insurance policy, and strategic location away from major financial centers all contribute to its strong reputation. It provides tailored solutions for individual investors and partners with financial entities, ensuring a high level of trust and credibility.
The depository’s expansion into Nevada further enhances its accessibility for clients, offering the same high level of security and service. With its commitment to customer service, compliance with industry standards, and transparent fee structure, Delaware Depository is a reliable choice for anyone looking to securely store precious metals.
Frequently Asked Questions
What security measures does Delaware Depository have in place?
Delaware Depository has advanced security measures in place, such as 24/7 video surveillance, UL-rated vaults, and motion, sound, and vibration sensors to ensure the safety of stored assets.
What type of insurance policy does Delaware Depository provide?
Delaware Depository provides a $1 billion insurance policy through Lloyd’s of London, which covers all risks except for cyber attacks and acts of war.
What are the benefits of storing precious metals with Delaware Depository?
Storing precious metals with Delaware Depository provides benefits such as no sales tax on stored bullion and coins, global shipment acceptance, and tailored solutions for individual investors and financial entities. It’s a secure and tax-efficient option for precious metal storage.
What are the current storage fees for precious metals at Delaware Depository?
The storage fees for precious metals at Delaware Depository are designed to be highly competitive and are determined by a daily storage fee that is invoiced semi-annually.
Where has Delaware Depository recently expanded its operations?
Delaware Depository has recently expanded its operations to Nevada, providing more secure and cost-effective options for storing precious metals.