Archive for December, 2008

Do You Sell Gold and Silver Bullion for Customer IRAs?

First State is considering a cooperative agreement with a local Delaware bank that is willing to write IRAs for IRS-allowed bullion (American Gold, Silver and Platinum Eagles, Proof Eagles, Canadian Maple Leafs, certain bullion bars, etc).

Delaware has numerous tax advantages, including no sales, personal property, inventory or commercial net worth taxes, in addition to stricter controls on banking privacy, so FSDC’s Wilmington location is ideal for safe and secure storage of IRA metals.

Should this agreement be signed, FSDC will be able to act as a “clearing house” for bullion dealers whose customers want to start a bullion IRA. FSDC will provide the instructions and expertise to make it easy for dealers and their clients to initiate an IRA utilizing a highly reputable bank as IRA Trustee. First State will provide secure storage - fully insured by Lloyd’s of London - for all IRA metals in your customers’ IRA account.

Robert Higgins, Chairman of FSDC, thinks this Agreement holds tremendous opportunity for our industry, but wants to hear your opinion or comment. Please email comments to Robert Higgins.

Category : News | Blog

First State Recently Achieved a New Benchmark in its Generic Rare Coin Clearing Capability

First State recently achieved a new benchmark in its generic rare coin clearing capability, helping facilitate nearly $1 million in generic rare coin trades conducted between First State Account Holders during the same business day. The generic coins traded never left our Depository, thus saving our account holders significant time, risk and shipping costs.

Wouldn’t you like to speed up your own rare coin transfers and save significant money in the process? If so, please contact First State’s Director, Eric Higgins, who will email you a First State Depository account application. Account applications are easy to fill out and your account will be opened the same day. As soon as your account is opened, you can begin storing, transferring and receiving operations immediately.

To learn more about First State – your rare coin and precious metals Depository of Wilmington, Delaware – please email David Krieger or call him on his direct number, 302-668-7371.

Category : News | Blog

First State and 1,000 Ounce Bars

Several significant bullion holders have recently contacted First State Depository for help taking physical delivery of their bullion from Depositories in New York City – both at a reasonable cost and in a timely, secure manner. Eric Higgins, First State’s Accounts Manager for Customer Service, points out such services are right down First State’s alley!

The first step is for a bullion holder to open a storage account with First State by completing the “Individual Custody Account Agreement”, also found on our website at under “Useful Forms.”

The second step is for the bullion owner to authorize First State Depository to pick-up their bullion and to ensure all paperwork and fees are settled. When First State receives this authorization, the pick-up will be scheduled.

Our fee for this service is significantly below what other services charge. If you are looking at expiring contracts and want to take delivery of your metals, but don’t have a secure place to store them, please contact Eric Higgins today at 302-765-2760.

Category : News | Blog