Acting Comptroller Kelly Hancock Visits Texas Bullion Depository, Highlights New Services
(LEANDER) — Acting Texas Comptroller Kelly Hancock recently visited the Texas Bullion Depository (TxBD) to see its operations firsthand and discuss new TxBD services and preparations for legal tender legislation.
“The Texas Bullion Depository is a one-of-a-kind facility that reflects our state’s commitment to innovation, security and fiscal leadership,” Hancock said. “From safeguarding retirement investments to pioneering new ways Texans can use gold- and silver-backed legal tender, Texas is leading the nation in precious metals stewardship.”
In June, the depository announced that through its private-sector partnership with Lone Star Tangible Assets and in collaboration with Equity Trust Co., TxBD is ready to hold precious metal IRA assets, providing individuals with a secure, state-administered option for storing their retirement investments.
The nation’s first state-run precious metals depository will also serve an integral role in implementing House Bill 1056, which Gov. Greg Abbott signed into law in June. The legislation will allow Texans to use gold and silver bullion stored at TxBD for everyday purchases through a debit card or mobile application.
In 2015, the Texas Legislature passed a law establishing the 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. TxBD began accepting deposits in 2018. A 40,000-square-foot facility for TxBD was completed in 2019 on 10 acres in Leander, Texas.
For more information, visit TxBD’s website.
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