Texas Bullion Depository
The Texas Bullion Depository is the only state-government operated bullion depository in the United States (all others are either Federal or privately owned).
The Depository is operated by the State of Texas Office of the Comptroller, in partnership with Lone Star Tangible Assets, and is located in Leander, Texas (a suburb of Austin).
The Depository was formed by the signing of Texas House Bill 483 in 2015 (which passed the Texas Legislature almost unanimously, despite criticism that it wasn't a good idea for taxpayers), opened for business in 2018, and opened its permanent facility a year later.
The Depository allows deposits of any precious metal, which includes gold, silver, platinum, palladium, and rhodium, in either bullion or specie form.[1] All deposits are physically segregated from other deposits, so if a person deposits 100 American Eagle gold coins and his grandmother's gold wedding ring, those exact same coins and ring will be returned when withdrawn. Currently, only United States citizens and permanent residents, and business entities located in the United States, can deposit items. All deposits are fully insured based on the value of the metal content; higher insurance is available for items with numismatic and/or sentimental values higher than the content (such as the gold coins and wedding ring in the example).
Notably the investment arm of the University of Texas, which owns around $650 million in gold bullion, chose to keep its holdings in New York (where it has been since its purchase) and not use the depository even though it would be within driving distance of the campus (the bill creating the Depository did not require them to relocate their holdings); it would later liquidate its holdings.
