American Bullion specializes in adding precious metals to Individual Retirement Accounts. To provide the highest level of protection and service for our clients, we work exclusively with the Delaware Depository to ensure any gold, silver, platinum, and palladium bullion added to an IRA is secure and compliant with IRS requirements.
Located in Wilmington, Delaware, the Delaware Depository is conveniently located near major transportation hubs yet away from the threats associated with the major political and financial settings of Washington, D.C. and New York City. Delaware is also typically free of natural disasters compared to other parts of the nation.
The Delaware Depository is widely recognized for its security, storage, and processing capabilities. It is licensed and reviewed by various commodities exchanges along with being chartered, regulated, and examined by the office of the Delaware State Banking Commissioner. The Delaware Depository provides services to the nation’s commodities exchanges, major custodians, bullion dealers, and individual investors. As a regulated trust company, bullion storage and physical possession carried out by the Delaware Depository is compliant with IRS requirements and acceptable for Individual Retirement Accounts.
All bullion is stored in fortified, high security, and discrete facilities. All Delaware Depository buildings and equipment are owned rather than leased, rented, or shared. The Delaware Depository is well capitalized and has no mortgages or other debt that could negatively impact its operations. Access is highly restricted and regulated by multiple control procedures. The Delaware Depository buildings have many sets of bullet-resistant, interlocking controlled-access steel doors that restrict entry to high security areas. 21-inch thick concrete-reinforced steel walls surround all Delaware Depository vaults, which are Class 3 vaults constructed and maintained in compliance with the Bank Protection Act. Vaults are equipped with time locks and automatic re-locking devices. Metal detectors monitor all movement between high security areas. As individuals transit throughout the system, the metal present on their body is compared with a saved personalized profile and if any variance is detected, passage is denied. A complete database with images and profiles of every employee and every transit is maintained. All areas in the Delaware Depository are protected by redundant alarms and security devices that detect motion, sound, and vibration.
The Delaware Depository facilities are monitored 24/7, 365 days a year, and all activity in and around the facility is digitally recorded. To ensure uninterrupted operations, the Delaware Depository utilizes redundant power and communication sources. But security is much more than just fortifying buildings and vaults, it is the combination of state-of-the-art facilities with tested inventory control systems, stringent internal controls, a well-defined account structure, and all-risk insurance coverage that provides unparalleled safety.
In addition to physical and electronic security measures, the Delaware Depository protects clients’ bullion through the use of proprietary systems and internal controls. Separation of duties and dual control procedures are used throughout the Delaware Depository process. All computer data and digital recordings are backed up and securely stored in both onsite and offsite data vaults. Internal audits of inventories are performed on an ongoing basis. Operations are reviewed annually by external independently certified public accountants, and security is reviewed by insurance underwriters and independent security advisers.
The Delaware Depository has data security plans and disaster recovery plans in place. The Delaware Depository’s managerial and supervisory personnel have over 250 collective years of precious metals experience. Criminal background checks, credit verification, and ongoing random drug testing procedures are conducted on all Delaware Depository employees. To further protect customer holdings, all bullion is fully allocated and held on a balance sheet, subject only to the client’s instructions. This means that at all times, the client is recognized as the sole owner and title owner of the bullion. Because the Delaware Depository has no debt and does not lend, pledge, or encumber any bullion in its care, the bullion is safe from creditors.
The final layer of Delaware Depository protection is insurance. To supplement experience, physical and electronic security, and internal controls, the Delaware Depository maintains a $1 billion policy in all-risk precious metals insurance underwritten by Lloyds of London. For American Bullion, security is of utmost importance. Many layers of physical security, electronic security, systems, internal controls, legal protections, experience, and extensive insurance protections render the Delaware Depository one of the most secure depository operations of its kind.
Storing Your Metals at the Delaware Depository
For more information about adding physical gold, silver, platinum, or palladium to an IRA or to have your precious metals stored at the Delaware Depository, please contact American Bullion at 1-800-326-9598 to speak with a precious metals specialist.