For savers who did everything right
You didn't chase the hot thing. You paid off the house. You built up savings so that if something went wrong, you'd never have to ask anyone for help.
Nobody told you where the line falls.
A deposit isn't your property. Legally, it's a loan you've made to the bank — the bank owns the cash, and you own a promise to get it back.
Federal insurance covers that promise to $250,000 per depositor, per institution, per ownership category. Above the line, you're an unsecured creditor.
Most people assume the whole balance is covered. It usually isn't.
Three questions, about thirty seconds. Nothing is stored, and no contact details are needed for this step.
Checking, savings, money market and CDs combined.
Includes a worked example for a position of this size.
How a deposit actually works
When you deposit money, the bank takes legal ownership of the cash and lends it out. What you hold in return is a promise to pay it back.
The bank profits on the spread between what it pays you and what it earns lending your money out. That works until it doesn't. If the loan book goes bad, the losses land on the people holding claims against the bank — which includes you.
On the record
Regulators shut the bank and depositors lost access immediately. The overwhelming majority of its deposits sat above the insured limit.
Those balances were eventually made whole — but only because regulators invoked a systemic risk exception.
That was a policy decision, not a legal right.
It could have gone the other way. For most banks, it would.
As part of an EU-backed rescue, deposits above the €100,000 insured limit at Bank of Cyprus were converted into shares in the bank.
Large depositors lost roughly 47.5% of the uninsured portion.
Accounts were frozen and withdrawal limits imposed while the terms were decided.
Notice what these have in common. In neither case did anyone need your permission. In neither was there a warning. And in the one case where depositors were made whole, it happened because officials chose to — not because depositors had a claim.
The other side of the ledger
Every asset above has one thing in common: it exists as a claim on an institution. Deposits, money market balances and paper metals are all promises made by someone else.
Physical gold and silver work differently. You own the metal itself. There is no counterparty who can restructure it, and no insurance limit — because there is nothing to insure against.
You can hold physical metals inside a retirement account. Federal law permits certain gold and silver in an IRA, held through a custodian at an IRS-approved depository. Metals can also be held directly, outside any account, in your own possession.
Before you wonder what you'd be signing up for
You tell us what you hold and what you're trying to protect. If metals aren't a fit for your situation, we'll say so.
For retirement funds, a self-directed IRA with an independent custodian — a separate company from us, holding the account. For non-retirement money, direct purchase in your own name.
Spot price, premium and any fee, itemized before you commit. No collectible markups. No proof coins at several times melt value.
IRA metals go to an IRS-approved depository, insured and audited, held in your name. Non-IRA metals ship to you. IRA metals cannot legally be kept in a home safe — any firm telling you otherwise is giving you incorrect information.
Typical timeline: two to three weeks from first call to metal in the vault. Most of that is custodian paperwork and the funds transfer, not us.
A custodian transfer takes two to three weeks in normal conditions. Wires, paperwork, verification.
In March 2023, depositors had a weekend.
The only version of this that works is the one you set up while nothing is happening. Not because anything is imminent — but because the window closes faster than the process moves.
Who calls you
Precious Metals Specialist
Our Allegiance Gold account executives and precious metals specialists have walked several hundred clients and savers through this decision. They'll answer your questions, give you pricing in writing, and tell you plainly if it isn't a fit.
From a client
“From the 1st time speaking to them to now, everyone has been nothing but helpful. They actually know what customer service means and they definitely deliver. My investment has soared and continues to do well. If you are in doubt trusting someone with your investments you've come to the right place...”
Michael Connelly, U.S. · verified TRUSTPILOT review
Written for savers holding more than the insured limit, and anyone who wants to understand what they actually own.
Free. No obligation. A specialist will call to answer your questions.