Members may deposit silver or gold directly into their accounts by mail or personal delivery to the physical offices maintained for UPMA™ business. All shipments must be mailed to the following address and include a packing slip specifying the member's name and address, as well as the count and weight of each type of specie enclosed. Members may also call in and request an account ID number if they wish:
Contact us for the shipping address.
Also, please bear in mind that the member is responsible for insuring in-bound shipments. Insurance can be purchased from the United States Postal Service (USPS) at a rate of $9.05 for up to $600 in declared value plus $1.25 per $100 or fraction thereof over $600 to a maximum of $5,000 per package. These rates apply to the following classes of domestic shipments: Priority Mail; Express Priority; First Class; Standard Mail (fka Parcel Select Lightweight); and USPS Retail Ground (fka Standard Post). Packages sent domestically by registered mail can be insured for declared values of up to $50,000 at the following rates: $22.30 for the first $5,000 in declared value, plus $1.55 per each $1,000 or fraction thereof over $5,000 to a maximum of $50,000 in total declared value. Of course, postage rates apply in addition to the cost of insurance, and such rates vary depending upon the postage class selected. Also, both postage and insurance rates are subject to change by the USPS at any time.
Once received, specie deposits are credited to the member's account as follows:
- non-legal tender bullion at the London fix closest to the processing date;
- 1 silver dollar for every $1.50 face value in pre-1965 U.S. silver dollars; and
- current United States legal tender dollar for dollar, according to the face amount.
Please also note that when converting specie legal tender deposits into paper dollars that this is not done at the same rate as if the coins were acquired through UPMA. Currently UPMA allows members to redeem deposited legal tender gold at 3.55% above spot and to redeem legal tender silver at 15.25% above spot.