- 08 May 2022
- Precious Metals
- Comments: 0
Disclaimer: Many or all of the companies listed here may provide compensation to us. This is how we maintain our free service for consumers. Compensation, along with hours of in-depth editorial research, determines where & how companies appear below.
Investing in precious metals, such as gold and silver, can offer a multitude of benefits for your portfolio and financial future. However, while it is a smart idea to diversify your portfolio and invest in these precious metals, holding the physical coins and bars in your own home is not such a good idea. Doing so exposes you to an increased risk of theft, loss, or damage to your investments.
Choosing a trusted and secure depository is the best way to protect your investment. Compared to a safety deposit box at a bank, a depository will offer enhanced security measures. Your precious metals will also be fully insured and backed, while this may not be the case for all safety deposit boxes.
Texas is known for its belief in state's rights. This can make it an appealing place to store your gold if you're worried about interference from the federal government. Continue reading to learn about the three best depositories in Texas and our final recommendation for the best place to keep your gold, silver, and other precious metals safe and secure.
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International Depository Services Group of Texas
One of the top depositories in Texas is the International Depository Services Group. The Dallas location can help keep your precious metals safe, secure, and ready for when you need them. Let's take a deeper look at this Texas depository.
#1. IDS Texas
The IDS of Texas, opened in 2017. However, the parent company, International Depository Services Group, has been around for longer than that. The company was founded by Dillon Gage in 2010 in New Castle Delaware and was originally called Diamond State Depository. With the success and positive feedback from customers, they expanded to add a location in Canada, and shortly after opened this Dallas, Texas location.
The depository was the first specialized bullion depository in the state, and it remains the largest precious metals depository in all of Texas. Individual and institutional investors can take advantage of the high-tech security offered by the depository. Additionally, both investors from the United States and those from other countries are welcome to store their precious metals with IDS Texas. The depository is conveniently located in Dallas and is easily accessible from Dallas-Fort Worth International Airport.
You can store gold, silver, platinum, and palladium coins and bars in the International Depository Services Group's Texas location. Additionally, if you have any certified coins, those are also eligible for storage in one of their secure vaults.
Secure Storage Solutions
Security is taken very seriously by IDS Texas. Cameras are constantly recording, and the facility is monitored 24/7 by an off-site security specialist group. Only permanent employees work at the depository; no contract workers or temporary staffers are used to provide an additional measure of security and peace of mind to each investor.
IDS of Texas conducts regular internal audits to confirm the contents of each of their vaults. Additionally, regular external audits are also conducted to provide additional reassurance that everything is in order.
If you choose to store your precious metal with IDS Texas, you can feel confident knowing that they will be held in highly secure Class 3 gold vaults. Compared to lower class vaults that may only deter criminals for 15 minutes to 1 hour, Class 3 vaults have been rated by the Underwriters Laboratories (UL) to stay secure against criminals for 2 hours.
A full insurance policy that is underwritten by Lloyd's of London, the most respected specialized asset insurance provider in the world, will offer additional protection for your metals when they're in the vault at IDS Texas. Among other things, the insurance policy protects your metals against theft, loss, or damage.
You should also take a look at the Texas Bullion Depository if you're looking for the best place to store your precious metals in Texas.
About the Texas Bullion Depository
The Texas Bullion Depository was opened in 2018 after the governor signed bill HB 483 into law. The law established the depository as the first state-administered depository for precious metals. Lone Star Tangible Assets is in charge of providing the depository's services. The Texas law was passed to help citizens of Texas safely store their precious metals while simultaneously keeping more funds for storage fees in the state.
Clients of the Texas Bullion Depository can access their account information online at any time. You can visit the website to learn more about the different storage options and their fees. Everything is laid out and there are no hidden fees to worry about.
Security and Technological Advancements
No corners were cut when designing the security measured put in place by the Texas Bullion Depository. They store precious metals in Class 3 vaults with fully segregated storage options available. 24-hour video surveillance and support from the State Police Officers from the Texas Comptroller's Criminal Investigation Division provide additional protection for your precious metals. There is also an armed security team employed by Lone Star Tangible Assets on staff at the depository.
In addition to these physical security measures, the Texas Bullion Depository also employs the latest in technology to protect your assets. They offer photographic verification when any new deposits are made to your account, along with automated notifications to users of any other types of account activity.
Lloyd's of London has underwritten an all-risk insurance policy for all the precious metals stored at the Texas Bullion Depository. The full-coverage policy protects your investment against loss, theft, damage, and more, allowing you to feel confident in the safety and security of your metals.
Finally, the Texas Precious Metals Depository is another of the best depositories in Texas. Read on to learn more about the secure storage solutions they offer.
About Texas Precious Metals Depository
The Texas Precious Metals Depository is a private storage facility located in Shiner, Texas. It is a division of Texas Precious Metals, which is a subsidiary of Kaspar Companies Inc, a family-owned business that has been operating for over 120 years in Texas.
Storage and Security
The Texas Precious Metals Depository is an underground facility designed to keep outside intruders away. It utilizes Class 2 vaults and also leases Tann Banker's Treasure Safes to its clients.
All of the facility's doors are bulletproof, and access to the facility and different locations inside it are restricted and secured with metal detectors and biometric scanners.
The depository employs a team of armed security guards. They do not hire any subcontractors to have greater control over the individuals inside the facility. Additionally, security cameras record constantly with real-time monitoring of the footage.
A Lloyd's of London full-coverage insurance policy will protect your precious metals stored with the Texas Precious Metals Depository. The policy protects assets against theft, floods, fires, and other natural disasters. ADKF, a firm from San Antonio, provides annual audits to ensure the contents of each vault are accurate.
If you're looking to open up a Precious Metals IRA, Texas Precious Metals Depository can help you with your storage need. They work with three different IRA custodians for Self-Directed IRAs. These companies are GoldStar Trust Company, Kingdom Trust, and Preferred Trust Company. You can learn more about opening up a Gold IRA with one of these companies when you visit the IRAs section on the Texas Precious Metals Depository website.
Final Verdict: Where is the Best Place to Store Your Precious Metals?
While the three Texas depositories above are all acceptable options, we firmly believe that the Delaware Depository is the best place to store your precious metals. While it isn't located in Texas, we think that the Delaware Depository simply can't be beat when it comes to the security and peace of mind you'll receive. Continue reading to learn a little more about why we so strongly recommend the Delaware Depository.
Highly Secure Storage
The Delaware Depository is known for its state-of-the-art security. When you store your precious metals with the Delaware Depository, you will be able to breathe easily knowing they are in good hands.
The vaults utilized for storage by the Delaware Depository meet the UL standards and the regulations laid out by the Bank Protection Act. The vaults are secured with time locks, automatic re-locking devices, and dual control access regulations to prevent unauthorized access.
In addition to the security measures used for the vaults themselves, the entire facility is more like a fortress, providing additional confidence that your investment is secure. The Delaware Depository has first-class security systems along with redundant alarms to deter and catch any criminal. Additionally, they record anyone who enters or leaves the facility, which doubles as a measure to deter wrongdoing and to have a record if needed for apprehension.
All the precious metals in the vaults at the depository are protected by a $1 billion insurance policy underwritten by Lloyd's of London. This comprehensive policy protects your metals against, damage, theft, loss, and more. If, somehow, something happens to your gold and silver, it will be covered, and you will be reimbursed for the loss.
The team of employees working at the depository are highly trained and trustworthy. They must undergo a deep background check and regular, random drug testing. Additionally, there is little turnover, so you don't need to worry about too many new faces have access to your metals.
You can choose from either non-segregated or segregated storage with the Delaware Depository. Non-segregated storage, which is the more budget-friendly choice, means that your precious metals will be stored in a secure vault alongside the bullion of other customers. The vault contents will be regularly audited to ensure everything is present, but you may not get the exact same coins and bars when you withdraw the contents of your vault. The coins and bars that may become comingled, however, are considered fungible bullion, which means that they are commercially interchangeable without affecting the value.
If you would prefer to ensure that the exact coins and bars you send to the depository are the ones that you take out in the future, then you may want to choose a segregated storage option. When you choose segregated storage, your coins and bars are held in a completely separate vault, away from those of other customers. However, because this arrangement not only requires more space, but also more labor on the part of the staff, segregated storage will cost a good deal more than non-segregated storage.
If you are looking for storage for the metals in your Precious Metals IRA, we would highly recommend choosing the Delaware Depository. They are one of the few depositories in the country that offer IRS-approved storage and have following the steps to adhere to the regulations put in place by the IRS.
With IRA storage through the Delaware Depository, all the bullion in your account remains fully allocated to you. Once you reach the age of retirement, you can choose to begin taking disbursements from your account, or you may opt to continue holding the coins and bars and letting their value grow more.
The Delaware Depository has a team in charge of auditing the work of the depository. This team regularly conducts internal audits to ensure that each vault contains what it is supposed to. Should any discrepancies be noted, the team works quickly to resolve them and ensure that the holdings of their customers are protected and secure.
The Delaware Depository currently has two locations in the United States. The original location, in Delaware, is in the ideal spot to be easily accessible from the major financial and political centers of New York City and Washington, DC, but still far enough away to be protected against any threats posed to these cities. Delaware's climate is relatively predictable, and compared to many other locations in the country, it isn't regularly threatened by natural disasters or anything else that could jeopardize the safety of your precious metals.
The second location of the Delaware Depository recently opened in Nevada. This location is also highly-secure and will ensure your metals remain safe at all time. Nevada is very friendly to businesses, and the location selected is close to distribution hubs.
Some investors choose to further protect themselves by storing some metals in the Delaware location and other metals in the Nevada location.
Our Recommendation for the Best Precious Metals Provider
Finding the most secure and trusted depository to store your precious metals is definitely an important decision. However, the decision about who to work with to purchase those precious metals is probably equally important.
Goldco is our favorite precious metals provider. When you choose to work with Goldco to purchase precious metals as a personal investment or set up a Gold IRA, you can choose to have your precious metals stored in the Delaware Depository.
Goldco has earned an A+ rating from the Better Business Bureau and an AAA rating from the Business Consumer Alliance. They have over a decade and a half of experience in the precious metals investment industry and have grown to be one of the most-trusted companies out there. In fact, various high-profile celebrities trust Goldco for their investment needs, including Sean Hannity and Chuck Norris.
Goldco offers a varied selection of gold and silver coins and bars. From gold and silver American Eagle coins to gold and silver Canadian Maple Leaf coins, gold British Lunar Series coins, silver Australian Saltwater Crocodile coins, and other coins and bars from various world mints, every investor should be able to find something they're interested in with Goldco.
When you open a Precious Metals IRA with Goldco, you can also earn free silver. With the best promotion we've found for customers, Goldco is offering 10% back in free silver for qualified purchases. What's not to love? Top-notch service from a trusted company and free silver!