Custody Accounts
First State offers a variety of rare coin and precious metals bullion custody services to institutional, commercial and individual investor market participants having a wide range of business and/or investment needs.
Accordingly, First State has structured a number of depository account options from which a potential customer can choose, in order to best fulfill that customer’s requirements.
A detailed description of First State's accounts follows:
Commercial Accounts
Bullion & Certified Coin Accounts The Custody-Plus Account – The Custody-Plus Account provides commercial entities requiring individual product examinations and more exacting and detailed data reporting to support their business operations with the services they need.
For example, this service provides for the verification, storage and reporting of individual certified coins (and bullion coins if desired), by metal and type, mint year and/or mint mark, and complete product description, rather than simply by the coin’s metal type and size only.
An additional example includes the determination and confirmation of proof coins as coming either with, or without mint certificates. Call First State for more details.
Investor (Individual) Accounts
First State offers an Individual Custody Account featuring a segregated or non-segregated option. An individual customer (e.g., an investor) establishes a custody account by returning an executed Individual Custody Agreement in which he/she has designated either the segregated or non-segregated storage option.
By choosing the lower cost non-segregated option, the customer allows First State to hold his/her fungible (that is, identical and interchangeable) coins/bullion items physically co-mingled with, or grouped with, the similar assets of other individual First State customers.
By electing the higher cost segregated storage, the account owner directs First State to physically separate and hold his/her coins/bullion items separate and apart from those of all other customers. (Note:Non-fungible items are by their nature individually unique, and are therefore, segregated by definition.)
