New Orleans Silver and Gold is making a historic move just around the corner, planting its flag inside the former Federal Reserve building at 147 Carondelet St. in the Central Business District. It is preparing to open by the end of September.
Owner Alex Ackel, who recently purchased the building with a partner, said the relocation marks a rare instance of a coin company moving into a former Federal Reserve branch, which is now called The Security Center. Beyond expanding rare coin and precious metal operations, the venture is breathing new life into the historic neoclassical landmark by drastically scaling up safe deposit box capacity to roughly 1,500 units — more than double what was previously available at the site.
Ackel touted precious metals as a critical investment option in these uncertain times. As traditional financial institutions navigate shifting technological landscapes, Ackel said physical security assets are positioned for a major resurgence.
“This facility may end up being the future even though it’s from the past, because of AI and what’s happening in banking,” Ackel said. “The chances of AI hacking every bank account are starting to rise every day.”
The expanded headquarters aims to serve as a comprehensive numismatic and precious metals destination, catering to collectors seeking tangible assets ranging from fractional pieces to large bars. To further engage the local collecting community and expand market reach, Ackel is establishing dynamic new programming within the historic venue.
“We’re working with an auction company partner to bring actual live auctions to the building… and also provide another outlet for clients to be able to sell their merchandise at the highest price,” Ackel said.
Additional plans for the Carondelet Street location include establishing an event space in the building’s former ballroom, setting up a small historical library, and rolling out a fully-insured gold depository by 2027. Ackel said the upcoming depository will fill a significant regional gap, serving as a primary secure storage hub stretching across the Gulf Coast region.
