Storage of physical precious metals is of great significance when making purchases of physical precious metals, with some clients finding home storage or bank deposit boxes impractical for keeping their metal safe.
Safety deposit boxes may not be covered under homeowners insurance, and bank failure can lead to bail-ins requiring depositors to give up portions of their holdings in return for some relief.
Delaware
The Delaware Depository enjoys an outstanding global reputation among companies trading precious metals, banks and investment firms. They pride themselves on exceptional security and total honesty when providing services, continually evolving to improve services while offering excellent customer support 24/7/365 – their customer service team are always there ready to answer your queries and provide answers if any arise.
Delaware Depository serves a diverse clientele of individuals as well as many major investment banks and brokerages that require bullion storage solutions. Their vault is capable of accommodating nearly all financial firms that require bullion storage solutions.
All bullion arriving in the Delaware Depository is carefully inspected, recorded, and stored securely. They offer an extensive insurance policy which protects against unexplained disappearances, theft from inside or outside sources, natural disasters, mechanical malfunctions and more; one reason they have earned such an excellent reputation. Unfortunately though, storing IRA gold at this facility may prove more expensive.
Texas
Many investors choose to store their gold bullion coins and bars at home for ease and direct control. Unfortunately, keeping precious metals inside can pose safety and security risks, particularly if you reside in an unsafe neighborhood; furthermore, your homeowner or renter’s insurance won’t provide coverage.
Stored at a bank, your precious metals will be subject to its financial stability and may be subject to bail-in during a financial crisis. By comparison, private depositories provide optimal levels of security with 24-hour surveillance as well as private insurance through major insurers like Lloyd’s of London – ideal options if storing precious metals is important to you.
Glenn Hegar is working to ensure Texas residents can store their precious metals close to home rather than paying New York-based banks storage fees for storage services. If you are interested in doing this at the Texas Bullion Depository, reach out today and we can arrange transfer of assets into this secure facility.
New York
The Federal Reserve Bank of New York is one of 12 regional banks within America’s central banking system. With its 22-story edifice and world’s largest gold vault containing an incredible 7000 tons worth approximately $250 billion of gold bullion bullion stored therein, its structure exudes strength and security.
The New York Fed provides a secure location to store gold reserves on behalf of account holders such as foreign governments and official international organizations. Their vault is situated 80 feet below street level and 50 feet below sea level for optimal storage conditions.
As soon as gold arrives at a vault, each bar must be meticulously weighed and its markings checked for accuracy before withdrawal. This step helps ensure the exact same bars return upon withdrawal – an essential safeguard against unauthorised access – so three people must always be present whenever any compartment opens or moves – even changing out light bulbs!
California
Many people appreciate the security of keeping precious metals at home, however this may not always be feasible or practical. Even if this option exists, homeowners run the risk of break-in or fire as well as theft and losses that might incur while it can also be challenging to insure against any risks. As an alternative method of storage some individuals use creative techniques such as baking gold coins into bread dough or hiding them away at remote locations – some even getting inventive enough to bake gold bars into bread!
Precious metal depositories are third-party facilities that offer optimal security, insurance and reporting of physical precious metal holdings for investors in both bullion and numismatic markets.
Investors should keep in mind that bullion depositories tend to be located on busy roads and may resemble generic office buildings in terms of appearance and security concerns. They may not permit private visits; instead, 24/7 online access should provide 24/7 access to custody data including transaction activities, account statements, itemized reports and shipment tracking capabilities.
