A precious metals bullion depository with more than double the vault capacity of the Treasury Department’s Fort Knox Gold Bullion Depository (in Kentucky, under the protection of the U.S. Mint) has been opened in Boise, Idaho, by Money Metals Exchange LLC.

After three years of planning and construction, the $28 million project comprises a 37,000-square foot vaulting and fulfillment facility that boasts nearly 9,000 square feet alone of vault capacity. In contrast, Fort Knox holds billions of dollars of the nation’s gold reserves in just under 4,000 square feet of vault space, housing 147 million troy ounces of gold.

According to Money Metals’ chief executive officer, Stefan Gleason, the family-owned and -operated facility has the capacity to hold up to $100 billion in gold and silver, with the ability to expand to 60,000 square feet.

According to Gleason, the complex “is built on a 3.2-acre lot adjacent to city and county police and emergency services,” and, “the new depository offers an extremely secure location for individuals, businesses, family offices, governments, and financial institutions across the globe to store high-value precious metals assets.

“Embedded into the facility are advanced security measures, around-the-clock monitoring, secure access controls, a security team composed of armed former law enforcement and military personnel, and third-party audits and insurance to ensure the highest standards of integrity and protection.”

Founded in 2010, Money Metals Exchange LLC is an online bullion exchange that works with retail customers in the U.S., buying and selling gold, silver, copper, palladium, platinum, and rhodium.

Customers may also store their gold and silver, invest through IRAs, or borrow against their metals. The company also publishes news and analysis about the precious metals markets.

Money Metals Exchange, according to Gleason, currently delivers as many as 40,000 gold and silver orders each month and already has served nearly 750,000 customers in North America.

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