Store Precious Metals in a Depository to Avoid Weather Disasters
A big, dedicated, modern storage facility like Diamond State Depository is your best option
Storing precious metals at home where you have access to them may seem like a good idea, but severe U.S. weather events in recent years show your house isn’t as safe as it looks, notes Diamond State Depository. Tornadoes have destroyed thousands of homes in the Midwest, South and Southwest while wildfires have torched thousands of dwellings in the West. On the Gulf Coast, hurricanes have pummeled hundreds of thousands of home s in the last decade.
“Hiding precious metal coins and bars in a home safe, attic or wall, or burying them in your backyard means they might not be there if your area suffers a weather disaster,” says Mike Clark, president and general manager of Diamond State Depository (DSD) in Delaware. “Walls crumble in high winds, and a safe can be tossed far and wide by a tornado or hurricane.”
Burying precious metals underground might seem safe, “but anyone coming by with a metal detector can find metal objects a foot below the surface,” Clark explains.
U.S. banks are not immune to weather events either. They’ve been destroyed on occasion by tornadoes and hurricanes, which results in having your assets and personal records scattered and exposed to anyone, including identity thieves.
“A much more secure option is a dedicated precious metal depository where vault management is the company’s core business,” Clark states. Protecting facilities around the clock is at the heart of a depository’s operations.
Diamond State Depository, a top security facility, opened three years ago outside of Wilmington, Delaware, with a Class 3 vault, the highest such rating. The depository contains a massive amount of square footage that can be used for bulk storage of silver bars, both large and small. The facility has an emergency generator that can supply full backup power if electricity goes out in a storm. And it contains a three-tiered Underwriters Laboratories (UL)-rated, multi-layered security system that keeps vaults locked down in a weather disaster.
As an additional security feature, the Delaware facility has a card-reader system, permitting access on a pre-authorized basis only. And all of its storage and office areas are recorded by video.
Customers are encouraged to visit Diamond State Depository to meet the staff and discuss its depository services. Commercial customers may audit their companies’ inventories during normal business hours anytime. At DSD, precious metals are kept in the names of customers, who hold full title to them. Metals are available for transfer to other internal accounts and for quick delivery into commercial markets. In contrast, precious metals stored at home take longer to sell and expose the owner to market and transportation risk.
Diamond State is staffed by precious metals and banking professionals with over 100 years of combined experience. Strict policies require that vault teams of two members handle assets. Staff duties are segregated so that employees who enter account data are separate from those who handle physical assets.
Based in northern Delaware, two hours south of New York City, Diamond State is accessible by interstate highways, Amtrak and other rail lines, international airports and deep water ports. Shipments to and from Diamond State are made promptly and cost effectively, Clark says.
Clark advises, “No more hiding your gold and silver coins in cereal boxes in the kitchen or metal bars in hollow books in your study. An intruder might not find them, but they could be scattered if an unfortunate weather event strikes your home.”
About Diamond State Depository
Diamond State Depository is one of the newest and most modern precious metals depositories in the United States, offering secure custody and fulfillment services for an array of precious metals products, including coins, bars, powder, sponge and industrial material. For more information on Diamond State Depository, please visit www.DiamondStateDepository.com or phone 888-322-6150.
Its Canadian affiliate is International Depository Services of Canada Inc., a precious-metals storage facility located near Toronto. (IDSofCanada.com) 855-362-2431