Need a safe place to store precious metals instead of under your mattress? Treasure Valley now has its very own treasure vault.
On August 12, Money Metals Exchange announced the completion and opening of its new gold and silver warehouse in Eagle.
The facility is 35,000 square feet in size and can be expanded to 55,000 square feet if needed, the company said. Money Metals Exchange touts its depot as “the Fort Knox of the Western United States, only much bigger.”
The state-of-the-art, high-security vault, which can store up to $100 billion worth of gold and silver, cost $28 million to build and is located on 3.2 acres of land near the city and county police and emergency services, and will serve individuals, businesses, governments and financial institutions around the world, the company said.
“By making the process of buying, selling and/or storing precious metals so seamless, Money Metals is now able to handle the transactions, storage and other needs of hundreds of thousands of customers each year,” said Stefan Gleason, President and CEO of Money Metals Exchange.
Security measures include 24/7 surveillance, secure access controls, a security team comprised of armed former police and military personnel, and third-party audits and insurance, according to the company. The site features a Class 3 vault that is “the largest in North America, offering nearly 9,000 square feet of ultra-secure storage space, more than twice the space of the United States Bullion Depository at Fort Knox, Kentucky,” according to a press release.
Money Metals began as a one-employee operation in 2010 and has grown significantly over its 14 years of operation. The company now employs 100 people, ships approximately 40,000 gold and silver orders each month, serves 750,000 customers in North America, and has processed nearly $5 billion in transactions during its existence.
“The need for this massive new warehouse is a testament to the significant and growing demand for physical gold and silver from Americans seeking refuge from the federal government’s deliberate currency devaluation policies,” Gleason said.
The company has an A+ rating from the Better Business Bureau and “offers cost-effective storage for bullion coins, coins, bars and bullion with comprehensive protection against theft, loss and damage” and is insured by Lloyd’s of London.
“Our new state-of-the-art depot is truly one of a kind,” said Mike Gleason, a director of the company. “This project has been years in the making and now it is finally complete. We are extremely proud of it.”
