Investing
One of the biggest decisions you’ll face when you buy precious metals is how to store your gold and silver. After you have made the decision to diversify your investment portfolio with precious metals, you must decide on how to keep them safe and secure.
Unlike many financial assets that exist largely as electronic assets that we view on our computer screens and never actually physically touch, gold and silver are physical assets that require storage.
Holding gold and silver bullion coins and bars in your own possession, or even storing them in a bank’s safe deposit box, can present a host of security, logistics, insurance, and even personal safety issues.
If you don’t want to store precious metals at home, and you don’t trust the security of your local bank, private depository storage can be an ideal solution. One of the most reputable depository institutions noted for its customer satisfaction and operational excellence is the Delaware Depository.
You might be wondering why you need to store your precious metals in a bullion depository. If you’re making a direct cash purchase of gold or silver, that’s a legitimate question to ask.
Many people who make direct purchases of gold and silver coins or bars want to be able to store their precious metals where they can maintain easy access to it, whether that’s in a safe at home or in a safe deposit box at a bank.
But if you’re purchasing precious metals for a gold IRA or silver IRA, those assets will need to be managed by a custodian and stored at a bullion depository.
Perhaps you’ve heard of a home storage IRA, an arrangement that purports to allow you to have your cake and eat it too by storing precious metals from your IRA at home. If that sounds too good to be true, that’s because it is.
Attempting to store precious metals IRA assets at home is illegal, and can subject you to significant taxes and penalties. So if you’re looking to start a precious metals IRA, you’ll want to make sure you do everything by the book and store your gold and silver at a bullion depository.
The benefits of using Delaware Depository to store your precious metals include:
Delaware Depository has over two decades of experience storing precious metals for a wide variety of customers, whether individual, institutional, or corporate. And while precious metals IRA assets have to be stored in a bullion depository, those who make larger direct purchases of gold and silver might want to think about using a bullion depository to store their precious metals as well.
Safety and security are some of the top concerns most people have when it comes to purchasing precious metals. If you’re in the process of purchasing tens or hundreds of thousands of dollars of precious metals, you understandably want your gold and silver to remain safe.
Delaware Depository understands that desire, which is why the depository adheres to what it calls “defense in depth.” This entails multiple series of security controls and procedures to protect customer assets from theft and damage.
Among the security measures Delaware Depository uses are:
Delaware Depository takes great pains to minimize external threats. It owns its depository facilities outright, with no debt or mortgages. And its systems of fences, wires, cameras, and other security devices are intended to keep external threats at bay.
But internal threats can be just as dangerous, whether that’s the armored truck drivers who deliver the gold and silver, employees pocketing coins, or even visiting customers trying to take their metals out of the depository without authorization.
Delaware Depository ensures not only that no single individual remains alone with the gold and silver it stores, but also ensures that no single person remains in possession of gold and silver through the entire process from delivery to storage. This results in a series of checks and balances that minimizes the risk of fraud and theft.
When it comes to theft of physical metal from the depository, Delaware Depository features multiple layers of metal detectors. Some of these metal detectors use software that can determine the exact amount of gold and silver in a person’s body.
These individual profiles are analyzed both when entering and exiting, so if someone tried to stick some gold coins where the sun don’t shine, it won’t go unnoticed.
And if all of these procedures aren’t enough to convince you that Delaware Depository takes safety seriously, the depository also maintains $1 billion in all-risk insurance to ensure that in the unlikely event of loss, your gold and silver will be covered.
Delaware Depository is a privately held precious metals custody and distribution center founded in 1999. Located in Wilmington, DE, Delaware Depository provides precious metals bullion custody, safekeeping, and distribution services for IRA custodians, financial institutions, broker-dealers, refiners, and individual investors.
It is licensed with the CME Group (COMEX and NYMEX Divisions) for the storage of gold, silver, platinum, and palladium, and with ICE Futures US for gold and silver.
Delaware Depository is located away from the threats associated with major political and financial centers such as Washington, DC and New York City, yet conveniently located near major transportation hubs to ease delivery and shipments of precious metals.
Delaware hasn’t been subject to natural disasters that affect other parts of the country, nor has it been subject to terrorist attacks like other large cities. Furthermore, the state of Delaware imposes no sales tax on the purchase, administration, or storage of precious metals.
For customers west of the Mississippi who wish to store their precious metals IRA assets closer to home, Delaware Depository opened its Nevada depository location in 2022, featuring the same state of the art security that Delaware Depository has always been known for.
And for those customers who wish to store their gold and silver internationally, Delaware Depository also offers the option of precious metals storage in Canada or Switzerland.
Delaware Depository is managed and operated by precious metals professionals with extensive experience providing customer-oriented depository services. When your bullion is stored at Delaware Depository, you can be confident that it will be safeguarded, processed, and delivered with care, competence, and accountability.
Storage fees are highly competitive. Customer service is responsive and friendly. And you can be certain that your affairs will always remain private as your account activity and personal information are held in strict confidence.
Gold and silver held by a precious metals IRA has unique requirements due to requirements of the tax code. Delaware Depository is experienced in storing precious metals IRA assets that conform to IRS requirements.
If you decide to take possession of the precious metals you store at the Delaware Depository, such as through a distribution from your precious metals IRA, shipment and delivery of your metals is quick and easy. Most bullion moves are processed the very next day, providing you with ready access to your bullion.
Gold and silver owners have many options for keeping their precious metals safe and secure, and some use a combination of different storage solutions at the same time. No matter which storage option you choose, the safety of your precious metals is paramount.
When it comes to protecting your precious metals, the many layers of physical security, electronic security, systems, internal controls, legal protections, and experience render the Delaware Depository one of the most secure operations of its kind. This can help provide you with peace of mind that is worth its weight in gold.
Are you ready to get your precious metals IRA started? You can get up to 10% in FREE silver if you call us today.
This article was originally published in 2022 but was updated in 2023 to provide additional information.
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