This post exists solely to create awareness among fellow Texans of services and facilities available and those becoming available, pending active bills in the Texas House and Senate. The writer has no official connection with the Texas Comptroller or the Texas Bullion Depository. The active legislation enjoys bi-partisan support.
The following information is provided in this manner because, in conversations with folks here in North Texas, I discover few know anything about our bullion depository or current legislation to create a Texas gold-backed digital currency.
My opinion. I believe Texans will want to take advantage of a Texas State gold-backed digital currency, unlike the federal central bank digital currency (CBDC) backed by nothing. — John N. White
Texas is the only state with gold bullion and the only state-run gold depository. The Texas Gold Bullion Depository (TxBD) was created by the Texas Legislature in 2015 and began operating in Leander, Texas, in 2018.
Learn more from the Texas Comptroller: The Texas Bullion Depository | The Only State-Run Depository Prepares to Go Global
As you learn from the Comptroller’s website, “With TxBD in operation, a push is building in Texas for commodities trading options outside of New York. According to State Rep. Giovanni Capriglione, the author of the bill that created TxBD, Texas is ideally positioned both geographically and economically to become an epicenter for commodities trading.”
On May 10, 2023, the House Committee on Business & Commerce voted unanimously FOR for an amended HB 1666 authored by Rep. Capriglione.
Accounts at the TxBD
“But it’s not only state-owned bullion that can be stored at TxBD. All U.S. citizens and residents, including businesses, trusts, and estates, are eligible to apply for a TxBD account to deposit bullion for safekeeping. (TxBD does not require applicants to reside in Texas to qualify for an account.) As of June 2021, nearly 1,000 account holders had deposits at TxBD, with the average account valued at approximately $140,000, Douglas says. And in 2019, the Texas Legislature passed, and Texas voters approved a constitutional amendment allowing the state to exempt all precious metals stored at TxBD from property taxation.””
88th Legislature: Texas Gold-Backed Digital Currency
Texas House Bill 4903 [LegiScan]
Summary: Relating to the issuance of gold and silver specie and the establishment of a digital currency based on gold and silver; authorizing a fee.
Texas House Bill 4903 [Texas Legislature Online]
Texas Senate Bill 2334 [LegiScan]
Summary: Relating to the establishment of a digital currency backed by gold; authorizing a fee.
Texas Gold Bullion Depository
Quick Links
- Buying and Selling Precious Metals
- Safety, Security, and Authenticity in Precious Metals
- Safety, Security, and Authenticity in Precious Metals
- Depository Account Holders
- Avoid Sales Tax: Acquire & Store in Texas
- Institutional and State Agency Accounts
- Texas Bullion Depository® Schedule of Fees as of April 1, 2018
- Information About Leander, Texas | The Texas Bullion Depository is located on a 10-acre campus in Leander, Texas. The facility is just north of Austin, within a short drive from the Texas Capitol and the Comptroller’s office.
- Frequently Asked Questions (FAQ)
- Social Media
For more information, contact the Texas Bullion Depository via this link: https://www.texasbulliondepository.gov/contact
This link provides a contact form and telephone numbers.
Knowledge is power | Saber es Poder
John White
Rockwall, Texas
John N. White 