From Bond to bullion
Settlement is where the written outline becomes allocated metal. The point of the sequence is to keep products, costs, routing, and custody tied to named records.
- 01
Confirmation of Terms
The Written Bond names products, unit cost, dealer charge, custodian charge, depository, and timeline before settlement begins.
Artifact: Signed Written Bond.
- 02
Custodian Routing
For Section 408(m) accounts, the custodian receives rollover or transfer instruction. Direct ownership omits this step.
Artifact: Custodian transfer authorization.
- 03
Payment Instruction
Funds are wired against the Written Bond with a reference for reconciliation.
Artifact: Wire confirmation.
- 04
Depository Allocation
Bullion is allocated at an IRS-approved depository in the direct ownership or IRA account name.
Artifact: Depository allocation receipt.
- 05
Recordation
The transaction is recorded and a settlement statement is issued.
Artifact: Settlement statement.
- 06
Post-Settlement Reconciliation
The client receives the Bond, wire confirmation, depository receipt, settlement statement, and custodian acknowledgment where applicable.
Artifact: Reconciliation packet.