Delaware Depository
| Company type | Private |
|---|---|
| Industry | Precious metals custody and distribution |
| Founded | 1999 |
| Headquarters | Wilmington , United States |
Area served | United States, Canada, Switzerland |
| Products | Precious metal bullion custody and distribution |
Delaware Depository Overview
Delaware Depository is a privately owned precious metals custody and distribution facility established in 1999. Situated in Wilmington, Delaware, the company specializes in secure storage, safekeeping, and distribution of precious metal bullion for a diverse clientele including IRA custodians, financial institutions, broker-dealers, refiners, and individual investors. Clients may choose to store their bullion holdings at locations in Wilmington, DE, Aston, PA, Boulder City, NV, Spring Valley, NV, or internationally in Canada and Switzerland.
As a Licensed Depository of the CME Group, Inc (encompassing Comex and Nymex divisions), Delaware Depository is authorized to handle gold, silver, platinum, and palladium bullion.[1] The company has also secured a no-action letter from the U.S. Securities and Exchange Commission (SEC), permitting it to offer custody and safekeeping services for gold and silver bullion on behalf of mutual funds and other funds regulated under the Investment Company Act of 1940.[2]
Delaware Depository employs a comprehensive “defense in depth” approach to security to safeguard client assets against theft or damage.[3] This strategy incorporates reinforced physical infrastructure with UL-rated vaults, continuous 24/7 video monitoring, motion sensors, sound and vibration detectors, electronic security systems, logical access controls, as well as dual control mechanisms and segregation of duties within internal processes.[4] Independent auditors perform SSAE-18 SOC-1 evaluations to verify the effectiveness of these security controls.[5] Both internal teams and external auditors regularly reconcile and audit client holdings. Additionally, vault personnel utilize various manual and mechanical techniques to detect counterfeit or compromised bullion products to reduce associated risks.[6]
One significant advantage of storing physical precious metals in Wilmington is the region’s stability; it has historically been unaffected by terrorist incidents, severe weather events, or geopolitical disruptions that could compromise a bullion depository’s security or operations.[7] To ensure operational resilience, Delaware Depository maintains a disaster recovery facility designed to support business continuity during major interruptions.[8]
The company also created the IRA Gateway™,[9] an online platform equipped with messaging tools, a document management system, and escrow services. This portal facilitates streamlined transaction processing between IRA custodians and bullion dealers for buying and selling IRA-qualified precious metal products.
References
- ↑ Note: CME Group licensing details
- ↑ Note: SEC no-action letter details
- ↑ Note: Security measures overview
- ↑ Note: Security protocols
- ↑ Note: SSAE-18 audit information
- ↑ Note: Counterfeit detection practices
- ↑ Note: Location benefits
- ↑ Note: Disaster recovery capabilities
- ↑ Note: IRA Gateway introduction