Precious Metals

Delaware Depository Review3 min read

Dec 9, 2021 3 min
delaware depository
Reading Time: 3 minutes

Delaware Depository is an international custody or distribution center for privately-held precious metals. Delaware Depository was founded in 1999 to protect the precious assets of its customers from theft or damage. The headquarters of the Delaware Depository is located in North Market Street Wilmington, Delaware. Now that you have a basic know-how about Delaware Depository. Let’s discuss it in further detail to clear all your doubts!

How Delaware Depository Works?

Delaware Depository is a sort of private company that does not offer or trade with public or stock exchanges. Instead, they exchange the precious metals or assets privately. Delaware Depository is an excellent deal for IRA custodians, individual investors, financial institutions, refiners, and broker-dealers. It provides leading services for precious metals bullion custody, safekeeping, and distribution services. Delaware Depository customers can also store other metals like gold or silver bullion custody. Thus, this licensed depository not only protects precious metals but also provides the best safekeeping services to store IRA assets, which can be bought from any of our recommended companies.

What are Precious metals?

Precious metals are natural metals or substances that have great economic value due to their unique chemical compounds. Delaware Depository gives a protected place to the precious metal owners so that they do not have to worry about the safety of these precious metals.

Delaware Depository Maintains:

Delaware depository is owned or handled by CME GROUP, INC. (Comex and Nymex Divisions) and Intercontinental Exchange, INC. This approved organization provides top-notch services to keep your assets safe. The services include:

  • Storage
  • Logistics
  • Security

Furthermore, customers can also choose where they want to store their assets. They have options between  Wilmington, DEOrange County, CA, or internationally in Canada or Switzerland. Delaware’s distribution center was initially founded to store precious metals, but later, they also started storing gold, silver, platinum, and palladium bullion. The depository is a great help for the prosperous industry as they can rest assured with Delaware Depository’s up-to-date electronic security system.

The depository also allowed for the Securities Exchange Commission (SEC). It was given a no-letter action, which means the depository is authorized to store gold and silver bullion custody, mutual funds, and other 1940 Act Funds.

In order to let this depository store your assets, you might first want to know the security level. So, let’s dig into how Delaware Depository is safe to keep assets or mutual funds. This depository in Wilmington aims to provide a “defense in depth” security system. Multiple layers of security controls and procedures are held to secure the assets’ storage fully. The high-level security at Delaware Depository includes 24/7 video surveillance, fortified physical structures, UL-rated vaults, various sensors to detect motion, sound, and vibration, electronic security, dual segregation, and logic internal controls to secure the storage.

An external auditor inspects the fully allocated storage safety service and procedure to ensure that appropriately secured customers’ assets. External and internal auditors constantly keep an eye on recorded holdings and customer assets. This great security service has made various asset owners tension-free with its greatly held-off balance sheet and business account sales protection.

Delaware Depository is considered Nation’s largest precious metals depository with such a high-tech and fully allocated storage system outside New York City. You can also sell and buy silver and gold coins other than keeping. The Delaware depository is licensed and approved for all-risk insurance. Its located at 3601 North Market Street, Wilmington, DE 19802. Join the Delaware depository to connect with high-level business purchases dealers for free.

The highest priorities of this depository are to secure and protect customers’ assets, the confidentiality of clients’ information, and a personalized approach to storage and reporting.

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