Eagle, Idaho, USA (September 14, 2022) -- Money Metals Exchange, a nationally focused precious metals company, announced today it is breaking ground on a new 40,000 square foot vaulting and fulfillment facility in Idaho.
The $21 million facility will be the largest private depository of its kind in the Western United States. It can also be expanded to 60,000+ square feet in the future.
“The overwhelming growth in demand for physical gold and silver as financial insurance combined with the great pricing, customer service, and content offered by Money Metals has led to dramatic growth in our business since 2019,” said Money Metals president Stefan Gleason.
“Americans are waking up to the risks we all face from growing attacks on our freedom and financial security, combined with a runaway inflation situation fueled by debt-funded government spending and Federal Reserve monetary debasement.”
The nationally acclaimed metals dealer has outgrown its existing facility constructed in 2014, with its employee count rising from 25 to nearly 100 during the past three years.
Money Metals now ships 40,000+ gold and silver orders across America each month, with thousands of other investors choosing to securely store their precious metals in individually segregated accounts at Money Metals Depository.
The convenience and security of storage, including the seamless process Money Metals customers experience when buying and selling metal, has been the main catalyst for the new, dramatically larger depository and fulfillment center.
With completion scheduled for late 2023, the secure, state-of-the-art, audited, and insured facility will be erected on a 3.2-acre lot adjacent to city and county emergency services near the heart of Eagle, Idaho.
Idaho is known as a freedom-friendly jurisdiction with low crime and a self-reliant, values-based population.
“Idaho will now have its own (larger) ‘Fort Knox,’ except that the U.S. Bullion Depository in Kentucky has not been credibly audited since 1953,” Gleason quipped.
"We are thrilled to be able to expand our business while still remaining in the beautiful City of Eagle,” said Money Metals director Mike Gleason. “We also appreciate the pro-business direction the city has taken under the leadership of Eagle Mayor Jason Pierce."
“Starting with just one employee on the second floor of the historic Eagle Hotel back in 2010, Money Metals Exchange has blossomed into an incredible company as well as employer for our city, earning national recognition in its industry. We are excited Money Metals decided to expand again in Eagle because this is exactly the type of company and owners we want in our community,” said Mayor Pierce.
Located adjacent to city police headquarters and the county sheriff's department, Money Metals Depository will be the largest facility of its kind in the Western United States.
Wright Brothers Construction Company is the general contractor, and Zions Bank is providing financing on the project. Other key Idaho vendors include Erstad Architects, Integrated Security Resources, The Land Group, and Musgrove Engineering.
Industry specialists include Global Risk Evaluations, American Special Risk, American Vault Corporation, and Lloyds of London.
Recently named "Best Overall" gold and silver dealer in the United States by Investopedia, Money Metals Exchange serves almost 500,000 customers nationwide and leads sound money public policy efforts in states across America and at the federal level. A family-owned Idaho business founded in 2010, it also operates Money Metals Depository for vaulting of gold and silver and Money Metals Capital Group, a collateral lending institution.