Idaho now has a gold-and-silver depository. Its owner says it can hold more than Fort Knox.

Elena Gastaldo, Idaho Statesman

EAGLE (Idaho Statesman) — A golden and metallic depository that its proprietor says tin shop much than Fort Knox conscionable opened successful downtown Eagle.

Precious metals trader Money Metals Exchange, based successful Eagle, built a $28 million, 37,000-square-foot “extremely unafraid location for individuals, businesses, family offices, governments, and financial institutions crossed nan globe to shop precocious worth precious metals assets,” Money Metals said successful an email Monday.

It doesn’t person machine-gun turrets connected its corners arsenic Fort Knox does. Fort Knox, built successful 1936 astir 30 miles southwest of Louisville, Kentucky, is considered nan astir unafraid bullion depository successful nan world, according to nan U.S. Mint, which runs it.

But nan Eagle depository does person North America’s largest Class 3 vault, nan institution said. That is nan highest vault standing nether Underwriters Laboratories standards. It would return 2 hours for personification utilizing “common mechanical tools, electrical tools, cutting torches, aliases immoderate operation of these” to break in, according to International Vault Inc., a manufacturer.

The depository has precocious information measures, around-the-clock monitoring, unafraid entree controls and a information squad made up of equipped erstwhile rule enforcement and subject personnel, nan institution said successful a news release.

“The Western United States now has its very ain Fort Knox, only substantially larger,” Money Metals said.

It is 1 of only astir 10 backstage depositories successful nan U.S., said Stefan Gleason, CEO of Money Metals.

“As a business that began pinch a azygous worker based retired of nan historical Old Eagle Hotel backmost successful 2010, we were pleased to beryllium capable to stay successful Eagle pinch this latest description ,” Gleason told nan Idaho Statesman successful an email.

The depository will bring much employment opportunities to nan Treasure Valley, Gleason said. Money Metals says it now has 100 labor and delivers arsenic galore arsenic 40,000 golden and metallic orders per month.

The depository tin shop astatine slightest $100 cardinal successful golden and metallic and tin beryllium expanded to 60,000 quadrate feet, nan institution said.

The building task progressive respective section firms specified arsenic Wright Brothers Construction Co., Zions Bank, Erstad Architects, Integrated Security Resources, The Land Group and Musgrove Engineering, Gleason said.

SEVEN FACTS TO KNOW ABOUT FORT KNOX

According to nan U.S. Mint website:

• Fort Knox was completed successful 1936 and costs $560,000.
• The building and contented of nan depository is known only by a few, and nary 1 knows each nan procedures to unfastened nan vault.
• No visitors are allowed inside. Franklin D. Roosevelt was nan only president who has been wrong nan vault. A legislature delegation was besides allowed to sojourn successful 1974.
• It stores a ample information of nan country’s golden bullion successful nan shape of modular U.S. Mint bars of almost axenic gold, aliases coin bars resulting from nan pouring of golden coins.
• It holds 147.3 cardinal ounces of gold. About half of nan Treasury’s stored golden is astatine Fort Knox.
• In 1942, Fort Knox stored nan Declaration of Independence, Constitution and Bill of Rights during World War II to “protect them from danger.” These were returned to Washington, D.C. successful 1944.
• The U.S. Bullion Depository has earned nan title, “As unafraid arsenic Fort Knox.”

MONEY METALS AND IDAHO LAW

Gleason and his institution made news successful April erstwhile Gov. Brad Little vetoed a measure that would person allowed nan authorities treasurer to put successful golden and silver. For respective years, Gleason, an entrepreneur who lives successful Charlotte, North Carolina, had urged nan authorities of Idaho to put successful golden and metallic arsenic a safeguard against inflation.

He and Money Metals Exchange person donated to galore Republican authorities and section candidates and nan Republican statement successful Idaho.

Little said nan fiscal statement that legislators relied upon to find nan gold-and-silver bill’s effect connected authorities finances grounded to return into relationship “the galore further costs that will beryllium borne by taxpayers for nan storage, safeguard and acquisition of commodities specified arsenic golden aliases silver.”