Diamond State Depository A Solid Place to Store Precious Metals in Turbulent Times

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by: jotrizila
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Date: Fri, 6 May 2011 Time: 6:18 AM
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Looking for a safe place to store your precious metals during today's political and geological upheavals? Diamond State Depository's facilities are state-of-the-art and equipped with multi-layered security systems, monitored round the clock by on-site and off-site security specialists. The Delaware-based depository operates with large secure warehouses and a class-three vault, the highest possible rating.

"Unlike some depositories, Diamond State has no in-house trading operations, and we maintain a strict firewall between us and our parent company," says Mike Clark, President and General Manager at Diamond State Depository (DSD), a unit of Dillon Gage in Dallas. "We protect your business and customer information, while working to meet your operational requirements and investment objectives in a timely and efficient manner."

Many reasons exist for choosing a depository over other methods of storage, Clark notes. Keeping assets in a bank deposit box requires personally and safely delivering them to the box and buying special insurance to protect against loss. To sell those assets in a fast-moving market, you need time to retrieve them from the safe-deposit box and deliver them to a dealer, possibly resulting in missed profits if the market suddenly turns lower, he says.

Choosing to hide gold bars or gold and silver coins in a basement or backyard raises the possibility of theft, fire or flood, and—like bank-deposit storage—presents timing issues if the owner decides to sell. And, in all likelihood, they are uninsured in those situations. Instead, many prudent investors store their metals with a reputable, non-bank depository like Diamond State. By doing so, they reap a number of benefits.

Diamond State Depository contains a spacious, high-security vault, along with a 12,000-square foot bulk-storage warehouse, capable of handling tons of silver bars. As added protection, the facility has an emergency generator that can supply 100 percent backup power if needed. And it contains a three-tiered, UL or Underwriter's Laboratories, Inc.-rated, multi-layered security system.

The Delaware facility has a card-reader system, permitting access on a pre-authorized basis only. And all of the storage and office areas are recorded by video, 24/7.

Under its internal controls, Diamond State Depository has a strict policy requiring that vault teams of two members handle assets. Staff duties are segregated, with employees entering account data separate from those who handle assets. These measures ensure the accurate handling of customer assets.

For customer protection, all metals stored are held "in custody," or off Diamond State Depository's balance sheet, and corporate account assets are kept in physically segregated accounts. Assets cannot be attached by, or become subject to the claims of, any Diamond State creditor.

Customer account data is stored off site, but strict, written "Chinese Wall" policies confine customer data to Diamond State Depository only. The depository provides same-day, transaction confirmations and weekly and monthly account reporting.

Customers benefit from DSD's "all-risk" insurance protection, underwritten by a leading, international provider of specialty, precious metals insurance. Moreover, shipments by USPS, FedEx and armored car companies to the depository are fully insured.

Diamond State Depository is staffed by precious metals and banking professionals with more than 100 years of combined experience, serving commercial entities and individual investors. "We understand the importance of protecting your physical assets as well as your business information, to give you piece of mind," Clark says.

For more information on Diamond State Depository, go to www.diamondstatedepository.com or call 888-322-6150.

About Diamond State Depository
Located directly in the heart of America's primary business corridor, just on the outskirts of Wilmington, Del., Diamond State is the world's newest and most modern precious metals and certified coin depository. The facility is equipped with the systems, staff, security and insurance to meet the demanding storage and shipping requirements of both institutional entities and individual investors actively participating in today's highly dynamic precious metals bullion and certified coin markets.

For more information, contact:
Jo Trizila
jo@TrizCom.com
O 972-247-1369
C: 214-232-0078

About the Author

For more information on Diamond State Depository, go to www.diamondstatedepository.com or call 888-322-6150.

About Diamond State Depository
Located directly in the heart of America's primary business corridor, just on the outskirts of Wilmington, Del., Diamond State is the world's newest and most modern precious metals and certified coin depository. The facility is equipped with the systems, staff, security and insurance to meet the demanding storage and shipping requirements of both institutional entities and individual investors actively participating in today's highly dynamic precious metals bullion and certified coin markets.

For more information, contact:
Jo Trizila
jo@TrizCom.com
O 972-247-1369
C: 214-232-0078