About Delaware Depository
Delaware Depository is an Exchange-approved, precious metals depository providing a full range of specialized precious metals custody, accounting and shipping services. Customers include IRA custodians, investment banks, brokerage firms, refiners, manufacturers, commodity trading houses, major retailers, coin dealers and individual investors.
Specifically, Delaware Depository receives, inspects, securely stores, internally transfers, and ships world-wide precious metals bullion (in bar, coin and industrial form) for its customers. Relevant accounting support (i.e., account deposit/withdrawal confirmations, inventory reports, and detailed shipping manifests), compliments our personalized customer service.
Our Delaware location offers additional benefits. Delaware Depository is geographically 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. Delaware is relatively free from natural disasters and the state imposes no sales tax on the purchase, administration or storage of precious metals. There are no corporate net worth, personal inventory or transfer taxes applied to bullion transactions.
Delaware Depository is a licensed depository of the CME Group (COMEX and NYMEX Divisions) for the storage of silver, platinum and palladium. The depository is also licensed by the ICE Futures US for the storage of silver.
Customer assets are stored in high-security vaults constructed and maintained in compliance with the Bank Protection Act and UL standards. They are equipped with time locks and automatic re-locking devices. Access is restricted and regulated by dual control procedures. Metal detectors monitor egress from high security areas. The entire facility is protected by numerous, redundant alarm and security devices that are independently monitored 24 hours per day, 365 days per year. All activity in and around the facility is digitally recorded.
In addition to physical security measures, assets are protected through the use of proprietary systems and stringent internal controls. Proprietary systems are designed to meet the strict requirements of Delaware Depository’s banking and brokerage house correspondents, and individual customers. All computer data is backed-up daily and securely stored in on-site and off-site data vaults. Internal audits of inventories are performed on an ongoing basis, and our operations are reviewed annually by both our certified public accountants and our insurance brokers. Business continuity and information security plans are in place.
Delaware Depository’s staff is highly experienced and turnover is very low. Background checks and random drug testing procedures are employed.
To supplement experience, physical security and internal controls, Delaware Depository maintains $1 billion in “all-risk” insurance coverage. The current policy is underwritten by Lloyd’s of London and includes all risks of physical loss and/or physical damage, including mysterious disappearance and/or unexplained loss and shortage, employee dishonesty and theft. Loss or damage from fire, flood or other natural disaster is also covered. Loss from acts of war, terrorism, cyber-attack, radioactive contamination, and chemical, biological, biochemical and electromagnetic weapons are excluded. Shipments by mail or express carrier are insured to $100,000 per package.
All bullion stored with Delaware Depository is fully allocated and held off-balance sheet, subject only to our customers’ instructions. This means that, at all times, our customers are recognized as the sole owners and title holders of the bullion. Delaware Depository never lends, pledges or encumbers any bullion in its care.
Delaware Depository is America’s largest precious metals depository located outside New York City.
To speak with a Delaware Depository representative call (302) 765-3889.