Don't Take Risks With Storing Precious Metals - As gold value soars, so does the demand for safe, convenient storage

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by: Diamond State Depository
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Date: Mon, 29 Nov 2010 Time: 7:15 AM
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As the value of gold and other precious metals continues to rise, so has public interest in investing in gold and other precious metals. Diamond State Depository, LLC cautions investors to ensure they choose safe, secure storage for these precious and valuable commodities.

As one of a limited number of depositories in the world, Delaware-based Diamond State Depository is America's newest, state-of-the-art facility for storing, transferring and shipping precious metals bullion and coins.

The company is offering tips for current and potential individuals and commercial clients to help them evaluate and choose a secure facility for holding and insuring their accumulated gold, silver, platinum and other precious metals. Diamond State suggests the following three tips when choosing a depository:

• Look for a geographic advantage. Depending on the region where the depository you choose is located, you may face different tax laws and penalties. For example, clients can save hundreds, if not thousands of dollars a year by storing their precious metals at Diamond State. The Delaware advantage offers widely known tax breaks. There is no state sales tax, no personal property tax, no inventory tax, no commercial net worth tax and no tax imposed on the payment of depository storage fees.

• Evaluate the people and the services the depository provides. Be sure it's the right fit for your needs. For example, the Diamond State team has more than 90 years of combined depository and banking experience. In fact, Diamond State president and general manager, Mike Clark, established three depositories previously, was the first-ever recipient of the Industry Council for Tangible Assets Chairman's Award in 2008. His work in this area has brought about what Diamond State considers a seamless customer service experience.

"While working with clients on their secure storage needs and investing objectives," said Clark, "we also provide an array of complementary accounting services. We know that protecting our customers' business data is as important as safeguarding their inventory."

• Don't take risks with security. That means understanding the strength of the physical facility, its technical systems and processes, and its insurance provisions, among other crucial details. Diamond State's facilities are monitored 24/7 in real-time with both on and off-site security specialists. Customer assets are held "in custody." That is, they are stored in customer-specific accounts, off the Diamond State balance sheet and cannot be attached by, or become subject to the claims of any Diamond State creditor. And, they are insured through an all-risk policy underwritten by the world's leading provider of specialized asset insurance.

About the Author

Diamond State offers individual investors and businesses a modern, safe, conveniently located, cost-effective facility to store precious metals bullion and coins.

New Castle, Delaware is strategically located two hours from Wall Street which provides geographic safety and security, as well as a convenient location for quick, cost-effective shipping. It's also located in an industrial hub close to their commercial clients.

The facility includes a secure warehouse and a Class 3 vault, the banking industry's strongest.
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.