TEXAS GOLD – When you hear the words gold depository, you might immediately think of Fort Knox in Kentucky, but Texas has just opened the nation’s first state-run precious metals depository in the country. State lawmakers approved the project in 2015, on the condition that Texas hire an outside company to manage the depository and cover costs. Now, Texans can store their gold, silver, and platinum at an Austin facility overseen by the Texas Comptroller’s Office. Spokesperson Chris Bryan says Texans can deposit more there than just an gold.
“So a lot of folks are thinking about this as a gold bullion depository, but the fact of the matter is we do accept gold, silver, platinum, rhodium, palladium -- really any of those sort of common precious metals that folks may have in physical form, we will store securely, and safely and fully insured.”
The Texas Comptroller’s Office chose to work with Lone Star Tangible Assets, which specializes in moving and storing precious metals. The current 23-thousand square-foot facility is in Austin, and the company plans to build a more permanent home for the depository just outside of Austin in Leander next year.
