Welcome to my Delaware Depository Review!
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What is Delaware Depository?
Delaware Depository is a precious metals depository that is approve by the New York Stock Exchange. They also offer a comprehensive range of specialist precious metals custody, accounting, and shipping services.
More so, investment banks, brokerage firms, refiners, manufacturers, commodities trading houses, major merchants, coin dealers, and individual investors are among the company's clients.
Services of Delaware Depository
Journey to Safekeeping
Each delivery at the Delaware Depository must follow strict regulations. So, these processes protect their employees as well as the metals.
On the other hand, each parcel receives the same level of treatment from the Delaware Depository employees.
Furthermore, Delaware Depository’s facilities has numerous internal and external cameras.
Separation of Duties
After packages enter the main depository, they transfer to the initial processing team. This team of individuals are also responsible for recording details of both the package and its contents.
Delaware Depository’s Internal Verification Department is responsible for confirming the accuracy of all packages of the previous day.
More so, various methods of testing ranging from visual inspection, precision scales, magnifiers, ultrasounds, eddy-current testers, x-ray machines, exedra, are for tests and authenticating bullion.
After the contents of each package has been recorded, verified, and authenticated, it’s reviewed one final time as is placed into our customer inventory vault.
Storage and Transfers
More so, Delaware Depository provides a number of depository storage and reporting options to fulfill its customers' diverse operating and custody requirements.
Furthermore, customers can transfer or take delivery of their bullion at any time, regardless of the storage arrangement they choose.
- Storage Options
- Domestic & International Storage
Delaware Depository’s Nevada and Delaware locations fully accommodate the storage of gold, silver, platinum and palladium coins and bars. They store gold in its Zurich, Switzerland location and gold, silver and platinum in Toronto, Canada.
- Exchange Approved
Delaware Depository also has a license on the CME Group (COMEX & NYMEX Divisions) to store gold, silver, platinum & palladium bullion deliverable in satisfaction of futures contract delivery obligations.
ICE FUTURES U.S.
Delaware Depository is also license by ICE Futures US to store gold and silver deliverable in satisfaction of futures contract delivery obligations.
- Internal Transfer
Upon request, precious metals and certified coins held at Delaware Depository may undergo transfer internally to other Delaware Depository commercial or individual accounts.
- Reporting Services
More so, Delaware Depository’s commercial customers receive holdings, activity and shipping reports by mail or electronically.
- Audit Team
As part of Delaware Depository’s commitment to our customers, they have a separate team of vault staff to perform continuous internal audits.
According the IRS, precious metals in your IRA must be in the possession of a bank or an IRS non-bank trustee. Delaware Depository has qualification to store IRA assets.
More so, Delaware Depository also provides secure, custody services to banks and other lending institutions that finance precious metal dealer inventories.
Furthermore, Every day, the Delaware Depository processes hundreds of parcels. Also, for incoming and departing packages, they cooperate with a number of express carrier firms.
Individuals, institutions, dealers, and exchanges receive packages on their behalf. Their knowledgeable staff also takes the responsibility of safeguarding your precious metals investment extremely seriously.
Reviews and Ratings of Delaware Depository
What I Like About Delaware Depository
Offers Foreign Storage
Delaware Depository also offers multiple storage options at various locations.
IRA accounts – Delaware Depository adheres to the IRC-408n which states IRA assets must be in the possession of a bank within the United States.
Non-IRA accounts – Delaware Depository offers storage options in Wilmington, DE, Long Beach, CA, Zurich, Switzerland, and Toronto, Canada.
Fast Bullion Processing
Delaware Depository follows strict procedures when depositing or withdrawing customers’ metal.
Deposits undergo processing within 3 days of receipt.
Withdraws from accounts are normally processed in 24 hours.
Bullions are Insured
Delaware Depository protects the customer holdings through the use of ’s account structure, proprietary systems, stringent internal controls, and state-of-the-art security systems, along with various insurance coverages. Also, Delaware Depository maintains $1 billion in “all risk” insurance coverage for bullion held in its high-security vaults, and $100 million in contingent vault coverage.
What I Don't Like About Delaware Depository
No Fees Indicated
The services by Delaware Depository is superb! However, we don't know how much do they cost since they do not indicate the fees.
More so, it is important to put down the fees in the website so that potential customers may take it into consideration when making decisions.
Sadly, there are very few reviews of Delaware Depository. So, we don't have the capacity to measure if the services they promise to provide is really being given.
Is Delaware Depository a SCAM?
Delaware Depository is run by precious metals experts with years of expertise in providing cost-effective depository services.
More so, you can trust that your bullion will be safe with care, expertise, and accountability when it is at Delaware Depository. Also, storage costs are really low. Customer service is helpful and courteous.
Furthermore, your account activity and personal information are kept in complete secrecy, so you can be assured that your affairs will always stay private.
With such, Delaware Depository is NOT A SCAM.
Since Delaware Depository provides depository services, you'll be needing a IRA company to get started!
That's why I am recommending Augusta Precious Metals.
Augusta Precious Metals is a leader in the precious metals industry, with over a decade of experience helping customers protect their retirement savings.