Reporting & Settlement
Transaction Settlement Assistance
At times, an attractive deal may arise where the potential buyer and seller of may not know, or be comfortable with each other, yet they both would like the transaction to occur. If the Seller is known to First State, First State can eliminate both the buyer’s concern and seller’s risk by serving as an impartial, 3rd party intermediary. For a modest service fee, and with the appropriate transaction agreement in place, First State can, on behalf of the buyer, accept custody of the coins or precious metals being sold by the seller, and on behalf of the seller, accept temporary custody of funds being paid by the buyer. With both product and funds in hand in their proper amounts, First State will, simultaneously, pay the seller and deposit the buyer's products to his/her First State account and thereby consummate the transaction to the satisfaction of both parties.
Call us to put this service to work for you.
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.
Account Reporting
First State depository customers receive a variety of regular account reports that allow them to always know the exact status of their account at all times. Standard account reports include:
- The Account Activity Summary, which lists all transactions affecting the account during a specified period, and;
- Either a detailed or a summary Account Holdings Statement, which provides a listing of all coins and precious metals inventory held in the account.
Regarding billing, commercial accounts are charged monthly for depository services, while individual accounts are invoiced semi-annually – once in July and again in January – for depository services.
