Delaware Depository

And the silver doesn't even leave the location that it's at.

so nowadays we've been doing so much buying from clients because we have just literally just thousands upon thousands of clients when they sell just to make things easier we usually have it shipped to the depository and they actually take it there they open up the package they they count everything it's um it's done with um with video overhead and it gets logged into our account and once we say it's logged into our account then we send them wire a wire transfer and If you choose to store at Delaware Depository, we help you set it up from start to finish.

And one of the things is, is that you can set up a beneficiary.

So literally right before I jumped on with you guys here, a client of mine who just lost her father, he was up there in age, so it was expected.

Oh.

The complaint alleges that the coins were instead sent to a third-party storage facility, Delaware Depository, and that the couple has continued paying fees to both companies to maintain their gold IRA accounts and store the coins.

This sounds so shady.

The couple further alleges that the coins Sheila and Norman purchased had, quote, virtually no value in excess of the then-market value of the gold contained in the coins.

And then the metals get shipped to the

Delaware depository.

Delaware Depository is the largest depository in the country where private citizens keep their metals.

It's also the depository of choice for the New York Mercantile Exchange for their billions and billions of dollars.

That's why, like, if you notice something, we always choose the best of breed, right? We work with the best companies.

We don't touch your money.

We don't touch your metals.

It now sits at the Delaware Depository under the name of your IRA.

To maintain the tax deferred integrity of the account, the metals have to be stored and shipped and stored at a depository.

We work with the Delaware Depository and the Texas Precious Metals Depository.

That way the IRS, the government knows you don't take the gold and silver.

that you just bought and go sell it, right? Because that would essentially, once you sell anything out of an IRA, there's a tax liability.

Right.

The data shows that Delaware Depository Services, or DDSC, and Brinks Global completely dominate this industry.

And here's where it gets really interesting.

Oh, let's look at the geographic reality of this data.

You can compare their brochures, argue with their sales reps on the phone, and endlessly debate their corporate philosophies.

Yep.

But no matter which company you ultimately sign the contract with, your physical gold is very often being loaded onto an armored truck and shipped to the exact same spherical vault at the Delaware Depository.

It is the great irony of the alternative asset industry.