After purchasing from Money Metals Exchange’s extensive selection of products, you may be considering using the Money Metals Depository.
If so, you can rest assured that your investments will be much safer in storage than at your home (although the company still recommends storing some of your precious metals at home for immediate access).
Firstly, any deposit you make is insured by Lloyd’s of London, a well-known insurance marketplace that offers 100% coverage. The deposit itself will be placed in a depository in Eagle, Idaho.
This depository building has been custom-made to Money Metals’ specifications from a combination of hardened concrete and steel. The facility is equipped with 24-hour monitoring services and stores all deposits in UL Class 3 vaults.
Class 3 vaults are vaults that—according to the Underwriters Laboratories—-would be able to defend against a burglar for 120 minutes. It’s highly unlikely that any potential burglars would have access to the vault for even a fraction of this time.
Upon request, Money Metals will schedule a viewing where you can view your holdings via video. This adds a sense of transparency to its storage solutions. Despite that, the company itself will not report your precious metals purchases to the government in most cases.
Unlike many other depositories that mingle assets, Money Metals separates your deposits from the deposits of other customers, storing it in its own deposit box.