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Delaware Depository Services
Company Fact Sheet
Storage Accounts
DDSC offers a variety of insured depository storage and reporting arrangements to meet the wide range of operational and custody needs of its customers.
In the broadest sense, depository customers may choose one of two account types: the Standard Account for the storage of common bullion bars and coins, and the Premium Account for the storage of precious metals assets that command particular attention to detail, such as mint-year-specific coins, proof sets and certified coins. Moreover, both segregated and non-segregated storage arrangements are available for each type of account.
All precious metal assets held at DDSC are maintained in customer-specific custody accounts, on a fully insured basis, and off of DDSC’s balance sheet. They are not held as deposits or consignments. Moreover, all commercial inventories are physically segregated by corporate accounts, thereby increasing control, reducing audit time and enhancing overall security while satisfying many companies’ stringent insurance and/or regulatory requirements.
Transfer Services
Upon request, precious metals and certified coins held at DDSC may be transferred internally to other DDSC commercial or individual accounts, or they can be shipped on an insured basis virtually anywhere. External shipments can be arranged by DDSC using the services of the U.S. Postal Service, Federal Express or various armored transport companies, such as AT Systems, Inc.
Account Reporting
DDSC can provide its customers with account information, including transaction confirmations, shipping manifests and holdings statements, by mailing or faxing traditional “hard copy” account statements to them. However, as an alternative, depository customers can receive their account information via the Internet through DDSC’s free DELdata electronic reporting service. DELdata is an optional e-mail reporting capability that allows depository customers to receive all normal DDSC account reports electronically, at no additional cost, at the interval they choose, be it daily, weekly or monthly.
Electronic transmission of account data through this service is the preferred reporting vehicle for most DDSC customers. DELdata offers the following advantages:
1. It provides your depository account data to you on the day(s) you select;
2. It eliminates the need to convey your account data in paper form or using more costly faxes;
3. It avoids lengthy delays associated with conventional mail delivery; and
4. It makes account data available at the workstations of up to four authorized recipients.
Transaction Settlement Assistance
At times, a buyer and seller may not be familiar with, or entirely comfortable with, one another, but they may nonetheless wish to conclude a contemplated transaction. It may be helpful for them to use the assistance of an independent third-party intermediary to eliminate the counter-party risk and complete the desired transaction, rather than forgo the deal altogether.
For a moderate service fee DDSC can serve as that intermediary on behalf of both parties (the buyer and the seller) who desire to effect a precious metals transaction. With depository accounts established and appropriate documentation on file, DDSC will concurrently accept temporary custody of the purchase money from the buyer and temporary custody of the bullion or certified coin assets from the seller. Once DDSC has the proper amount of purchase money and the correct assets in its custody, it will simultaneously transfer the funds to the seller and deliver the bullion/coins to the buyer. In the event either party fails to deliver proper funding or assets to DDSC’s custody, DDSC will advise both parties and return all funds and assets to their respective owners.
For more information regarding specific procedures, fees and documentation relating to DDSC’s Transaction Settlement Assistance, please call your Miles Franklin Representative at 1-800-822-8080.
Storage Charges
Segregated Storage: By choosing segregated storage you authorize and direct DDSC to separate and physically set apart your precious metals from the precious metals of other DDSC customers. The annual fee for Segregated Storage is 1.50% (150 basis points) of the total dollar value of the precious metals in storage.
Non-Segregated Storage: By choosing non-segregated storage you authorize and direct DDSC to commingle your precious metals with the precious metals of other DDSC customers. The annual fee for Non-Segregated Storage is 0.75% (75 basis points) of the total dollar value of the precious metals in storage.
NOTE: Fees quoted above are annual rates. However, storage charges are billed semi-annually. For billing, storage is calculated by multiplying the average number of ounces of each metal type in the account during the billing period by the spot metal price or the certified coin price on the last day of the billing period. The result is multiplied by the applicable rate(s) listed above and divided by two to yield the semi-annual fee. A minimum fee of $25.00 per account will be charged semi-annually if precious metals in any amount are held in your account.
Shipping and Handling Fees
There is a $25.00 per package handling fee. All applicable postage, registration, and insurance charges will be included in your shipping fees on a C.O.D basis.
Personal Pick-Up Fees: $0.04 per ounce for all metal, other than the items listed below;
$10.00 per item for:
1) 1,000 ounce silver bars
2) 100 ounce gold bars
3) 400 ounce gold bars
4) 50 ounce platinum plates
5) 4 & 5 Kg. platinum bars bullion coin boxes
6) 100 ounce palladium plates
7) Sealed 90% silver bags
8) Sealed 40% silver clad bags
9) Government mint sealed
NOTE: If bags or boxes are unsealed and special processing or additional handling is required to prepare their contents for release, the standard $.04 per ounce fee will apply. A minimum fee of $25 per package will apply in every instance.
Silver Coinage
DDSC will store
DDSC requires count-verification for all bags held in non-segregated storage accounts and will assess the appropriate fees. Note: count-verification is not required for segregated storage accounts.
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