Texas Gold: Republicans see first proposal for the state’s own bullion depository

Texas Gold: Republicans see first proposal for the state’s own bullion depository

In 2015, Texas Governor Greg Abbott in 2015 signed into law an act establishing a state bullion depository at no cost to taxpayers. He intends to enter into a public-private partnership with a qualified company to provide a secure, physical depository and an agency of innovation.

A non-banking financial facility will provide Texans with secure resources for a wide range of gold-backed financial services privately sponsored and publicly supervised by the state of Texas.

Through our support of this bill and our ongoing participation with the state comptroller's office, we recently presented our vision at the Texas Republican convention. As you can see from the headlines below, our vision for the Texas Bullion Depository caught the eye of more than just Republican delegates and lawmakers.

Here is coverage from the Dallas Morning News:

Almost a year after Gov. Greg Abbott signed a bill into law to “repatriate $1 billion of gold bullion from the Federal Reserve in New York to Texas,” the state’s Republicans got a look at one proposal for what a Texas Bullion Depository could look like.

Texas Precious Metals, a Shiner-based wholesale precious metals company, presented its proposal for the depository in a booth at the Texas Republican Party convention this week.

It’s one of several companies that responded to state Comptroller Glenn Hegar’s request for information in September. The comptroller’s office used the request to get answers to questions that lingered after the ink had dried on the bill, including concerns about how the state could best secure and transport the bullion.


For complete coverage, visit: http://texasdepository.com.

Sorry, you must be logged in to post a comment.


Though there is some debate among historians, Texans themselves generally cite 1836 as the year of Texas’ independence. In the early 1930s, large celebrations were planned...
The American Gold Eagle is one of the world’s most popular bullion coins. First introduced in 1986, it has become one of the most recognized and frequently traded forms of gold....
When the $20 “Saint” was first introduced in 1907, the United States Mint struggled to perfect the coin’s design. In its original form, the coin’s design was extremely...
The Morgan silver dollar, for a number of reasons, is arguably the most popular of all United States coins. For one, they are big, beautiful coins. Their substantial size and...