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.