Texas Precious Metals Depository in Shiner, Texas doesn’t look like much on the outside. Just a nondescript, single-story brick office building on a tree-lined country road, across the street from a tractor dealership. You probably wouldn’t give it a second glance. If you did, you might notice the building’s windows are extremely narrow. That’s because the most interesting part of the Texas Precious Metals Depository is underground.
The vault beneath that uninteresting building is completely entombed in concrete and has three concentric layers of protection. With a Class 2 security level, this vault is as president and co-founder Tarek Saab points out, the same level of security that protects the Queen of England’s crown jewels. Further security measures include:
- Bulletproof doors at all access points
- Physical access defended with man traps and truck traps
- Access points secured with biometric scanners and metal detectors
- Armed on-site security personnel (vetted employees only, no outsourcing or subcontractors)
- Full 24/7/365 interior and exterior surveillance; footage stored locally and remotely and monitored in real-time
- Direct alarm feeds to city and county law enforcement stationed within 1 mile of the facility
In addition to crown jewel-level security, the facility also maintains a rigorous set of internal protocols:
- Dual controls in all restricted areas
- Segregation of duties
- Recorded ingress and regress monitoring of all personnel
- Chain of custody monitoring
- All inbound packages are opened under camera
- Annual external auditing by San Antonio accounting firm ADKF
And, should the unthinkable somehow happen, all assets are 100% insured.
Fully private, segregated storage
Texas Precious Metals Depository maintains fully segregated, individually sealed storage of all client property. Metals stored with TPMD are never commingled or allocated – there’s never any question about who owns what.
All clients’ precious metals are fully segregated, sealed, annually audited, and 100% insured through an all-risk policy by Lloyd’s of London, the world’s leading insurer of specialized assets. This insurance policy covers external theft, employee theft, fire, flood, and other natural disasters.
Assets stored at Texas Precious Metals Depository remain the property of the client, completely independent of TPMD’s balance sheet. (This is an important distinction for legal reasons – if a depository were to go bankrupt, creditors have a claim to all the facility’s property. Banks and facilities that commingle precious metals give you an IOU for some number of ounces – which makes you just another creditor.)
Your property is never on deposit to the facility or held as consignment. Unlike other precious metals depositories, TPMD’s client assets are never commingled.
Combine their world-class service with their low rates, and you’ll see why Texas Precious Metals Depository has quickly become a favorite among Birch Gold customers.
A rare peek inside Texas Precious Metals Depository
The depository facility is located in South Texas, almost equidistant from San Antonio, Houston and Austin. In 2021, TPMD arranged a tour with a local TV station. Watch it here.
I have often joked that we’re like the toilet paper in the financial industry. You don’t realize how badly you need it until it’s not available. There was a huge run on precious metals in the market during COVID. We were extremely busy trying to keep up with the overall demand, as people were pulling from equities, pulling from their bank accounts to try to build in a little bit of protection.
Should you become a client of TPMD by choosing them as your gold IRA depository, you’ll be allowed to visit the depository and view your precious metals. Don’t expect them to let you into the vault, though.
Who’s behind Texas Precious Metals Depository?
Texas Precious Metals and its divisions, Texas Mint and TPMD, are operational subsidiaries of Kaspar Companies Inc. (KCI) – a fifth-generation family-owned Texas business KCI was founded in 1898 and is one of the oldest companies in Texas. KCI has been continuously family-owned and operated for over 120 years.
You can learn more about the Texas Precious Metals Depository here.