Texas Bullion Depository, Through Its IRS-Approved Operator, Now Holding Precious Metal IRA Assets
(AUSTIN) — Texas Comptroller Glenn Hegar announced today that the Texas Bullion Depository (TxBD), through its private sector partnership with Lone Star Tangible Assets and in collaboration with Equity Trust Company, is now ready to hold precious metal IRA assets, providing individuals with a secure, state-administered option for storing their retirement investments.
“This milestone marks a significant step in expanding the accessibility and security of precious metal IRAs for investors across the country,” Hegar said. “As the only state-authorized storage facility for precious metal assets, the Texas Bullion Depository gives investors a higher level of oversight and protection against counterparty risk than what is offered at other depositories."
“We are excited to offer this new service to investors seeking to secure their retirement portfolios with physical gold, silver and other precious metals,” said Christopher Speltz, CEO at Lone Star Tangible Assets LP, the company contracted by the Comptroller’s office to operate TxBD. “With our state-of-the-art security measures and commitment to excellence, we provide peace of mind to those looking to protect their wealth for the future.”
The IRA storage option is offered in collaboration with Equity Trust Company, a leading provider of custodial services for self-directed IRAs.
“We’re pleased to offer another world-class storage option for this asset type as its popularity surges,” said George Sullivan, CEO of Equity Trust Company.
As of June 6, the total value of all deposits at TxBD surpassed $400 million. The depository accepts gold, silver, palladium and platinum.
In 2015, the Texas Legislature approved a new law establishing the nation’s first state-administered depository for precious metals as an official agency under the administration of the Texas Comptroller of Public Accounts, operated by a private entity without any use of taxpayer dollars. A 40,000-square-foot facility for TxBD was constructed on 10 acres in Leander, Texas, just north of Austin.
For more information, visit the TxBD’s website.
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