Every metal listed on VaultRunner is held at a qualified third-party depository. Ownership transfers on the depository's books. The metal never moves during a transaction.
Under the VaultRunner Terms of Service, the depository you utilize must be COMEX/CME-approved or IRS-qualified for precious-metals retirement accounts (a Qualified Depository). Your relationship with the depository is independent of your relationship with VaultRunner. VaultRunner does not own, operate, or partner with any depository.
Buyers and sellers each hold their own account with the depository under their own agreement with it. Account approval, including the depository's identity verification, is determined solely by the depository.
VaultRunner lists only metal already held at a qualified third-party depository. The seller's listing is supported by the depository's own records for that holding, which the seller provides, and VaultRunner does not take custody of, inspect, assay or grade any metal.
Storage fees, withdrawal procedures, and shipping charges are set by the depository and confirmed in your depository account agreement. VaultRunner earns no part of them and does not control them.
When a sale completes, the seller signs the depository's own transfer form and VaultRunner, as the seller's agent, submits it. The depository records the change of ownership on its books to an account in the buyer's name. The physical metal does not move. This eliminates shipping costs, transit risk, and delivery wait times.
The independent escrow service confirms that buyer funds are secured. The seller signs the depository's own transfer form and VaultRunner, as the seller's agent, submits it.
The depository transfers ownership on its books from the seller's account to the buyer's account. The metal remains in the same vault, in the same location.
The buyer confirms the metal in the buyer's own depository account, or the inspection period ends. Escrow releases payment to the seller. Transaction complete.
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