After the contents of each package has been recorded, verified, and authenticated, it’s reviewed one final time as is placed into our customer inventory vault. This exact process is followed for global exchange or private customers and segregated or non-segregated accounts.
Delaware Depository understands that customers trust us to responsibly secure the bullion we hold in our vaults. Trust, Service and Security are words we stand behind.
Various methods of testing ranging from visual inspection, precision scales, magnifiers, ultrasounds, eddy-current testers, x-ray machines, exedra, are used to test and authenticate bullion. While no one method can guarantee authenticity, using various combinations of tests greatly improve the ability to identify counterfeits.
Delaware Depository’s Internal Verification Department is responsible for confirming the accuracy of all packages that were recorded the previous day. This team includes both vault and office staff. System entries are reviewed against original paperwork and metal is reviewed against system entries. This verification is a critical step in servicing customers as it catches human error before metal is reported to customers.
After packages enter the main depository, they are released to the initial processing team. This highly trained team of individuals are responsible for recording details of both the package and its contents. Once the contents are recorded and inspected by two employees, the paperwork and bullion are placed in a cage to await the next step of the process.
Delaware Depository requires separate teams to process each package which reduces the possibility of internal theft. No one person has access to a package from start to finish.
It starts with accountability. Delaware Depository’s facilities are equipped with numerous internal and external cameras. All precious metal deliveries are recorded in HD. Two Delaware Depository vault staff and driver of the courier are required to inspect and record the total number of packages then initial a ledger to provide record of each delivery.
Security listens to the staff and driver during each delivery. Only Security has the authority to release the truck bay doors. This internal control requires Security to confirm it’s safe before staff and packages enter the main depository.
Customers have the option of selecting either segregated or non-segregated storage arrangements.
With segregated storage, bullion is inspected, packaged, labeled, and stored in high-security vaults, physically separate and apart from the bullion of other customers. Due to the significant labor and substantial space requirements of segregated storage, the cost of segregated storage is more than the cost of non-segregated storage. However, customers are assured that they will receive back the same exact bars or coins that were originally deposited.
With non-segregated storage, fungible bullion products which, by nature, are commercially interchangeable, are inspected and stored in high-security vaults. Frequent recurring audits and independently-audited internal controls ensure that all bullion is properly accounted for and securely stored. Customers that choose non-segregated storage benefit from significant cost savings because bullion is securely stored in bulk.
As part of Delaware Depository’s commitment to our customers, we have designated a separate team of vault staff to perform continuous internal audits. This team of employees focuses solely on checking the accuracy of work that the depository has completed. Random counts on various products occur without notice. Discrepancies are researched and resolved immediately. This process strengthens internal controls and enables the depository to stand behind reports, statements
Delaware Depository’s commercial customers receive holdings, activity and shipping reports by mail or electronically. Reports can be customized and delivered in multiple formats.
Personal Storage customers can log into myaccount.delawaredepository.com and view account holdings and reports. Statements are also available by mail, email or fax.
Call us at (302) 765-3889 anytime you need assistance, account information or a depository report.
Delaware Depository is licensed by the CME Group (COMEX & NYMEX Divisions) to store gold, silver, platinum & palladium bullion deliverable in satisfaction of futures contract delivery obligations.
Click here for more information about CME precious metals contracts.
ICE FUTURES U.S.
Delaware Depository is licensed by ICE Futures US to store gold and silver deliverable in satisfaction of futures contract delivery obligations.
Click here for more information about ICE Futures US metals contracts.
Delaware Depository’s Nevada and Delaware locations fully accommodate the storage of gold, silver, platinum and palladium coins and bars.
The Nevada location maintains the same externally audited internal controls and procedures as its Delaware locations. The new depository is our most state-of-the-art facility containing multiple layers of physical, technical, and administrative protections.
Delaware Depository stores gold in its Zurich, Switzerland location and gold, silver and platinum in Toronto, Canada.
The depository maintains $1 billion of all-risk insurance through London underwriters.