Texas gold depository will be headquartered in Leander

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The nation’s first state-administered gold depository will be located in the city of Leander.

Gov. Greg Abbott signed the existence of the Texas Bullion Depository into law after the 2015 legislative session. At the time, Abbott said having the depository would help keep Texas gold reserves secure, as well as keep taxpayer funds from leaving the state. Previously, the state paid storage fees to facilities outside of Texas.

The Leander site was selected by Austin-based Lone Star Tangible Assets, the vendor hired by the State Comptroller’s office to build and operate the depository. The exact location of the site is being withheld for security reasons, but Matt Ferris, chair of Lone Star Tangible Assets, said the facility would be located near the Capital Metro railroad tracks in north Leander.

Leander City Council approved an economic development agreement with Lone Star Tangible Assets for the depository during a Thursday night meeting. According to a press release from the Texas State Comptroller’s office set to be released Nov. 3, construction on the site is expected to begin in early 2018. Lone Star Tangible Assets expects the facility to be completed in late 2018 or early 2019.

The depository will provide services nationwide in 2018, with international services to be offered in the future phases, according to the release.

“This state-of-the-art facility will provide tremendous benefits to the citizens of Leander and will give Texans a secure facility right here in the Lone Star State where their gold and precious metals will be kept safe and close at hand,” Texas Comptroller Glenn Hegar said in the press release.

Ferris said Lone Star Tangible Assets is making room for more than 300 employees at the new location. He said the company will relocate its 100 current employees and add jobs as needed. He said nearly all of the company’s positions are hired locally within a 50-mile radius.

Leander Mayor Chris Fielder said the city is thrilled to build the depository in Leander.

“As one of the safest and fastest growing communities in the nation, I can’t imagine a better place for companies in the precious metals industry to operate,” he said in the release. “We believe Leander is a growing destination for business, and I am proud to have us represent the state of Texas in this joint enterprise.”

Additional reporting by Carlie Porterfield

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COMMENT
  1. Do you buy gold there from regular individuals or where would you recommend to sell gold bars?

    • Wait and see how well your paper money (made of cottom/linen) holds value compared to gold over a lifetime. One of the forgotten purposes of money is to store value without having to pay taxes on it like you do with property. Once the fed prints 40 trillion more (they already printed 4 trillion since 2008) the usd will be worthless unless you plan to sew clothes with the bills. On the other hand, if you have no savings you have nothing to lose in usd but inflation will make life miserable over time.

    • The insane waste of money is leaving it in a yankee new york vault and paying the logistics overhead to get at it. If it is locked away in Texas, the Globalists and Benedict Arnolds in Washington have to tread on Texas and Texans to get at it in the future when the Petro Dollar fails them.

  2. With gold re-birth as money by nature and by free choice of the people, I created an online marketplace where you can sell almost anything you want priced, in gold:

    https://www.goldnroll.com/

    I already contacted the Texas Bullion Depository, as well as other gold depositories like Goldmoney, as I want to integrate their electronic payment tools with the Gold’N’Roll marketplace to make gold payments easier.

    The Gold’N’Roll marketplace displays a world map of gold depositories, dealers and any business that accepts gold for the payment of its products and services.

    I guarantee that the Gold’N’Roll marketplace is and will be free of use so I really hope in a couple of years it’ll gain traction. So that we can get back to sound money, so we can profit of the stability and the economic prosperity that they condition.

  3. So far, everything I read about this Texas depository is all good. The questions I have are.
    1 will my PM’s be in a segregated storage.
    2. How often can I add or withdraw.
    3. Are requested withdraws sent or wired, do I have the options of receiving requested pm’s in my account or will a type of credit or cash only be obtainable.
    4. In the possibility of EMP attract, martial law, our nation at war or horrific natural disasters. What if any guarantees do I have that my deposits will remain safe. In desperate times people do desperate things.
    Any comments, links or updates on this depository are welcomed.

Caitlin covers Cedar Park and Leander city councils and reports on education, transportation, government and business news. She is an alumnus of The University of Texas at Austin. Most recently, Caitlin produced a large-scale investigative project with The Dallas Morning News and led education coverage in the Brazos Valley at The Bryan-College Station Eagle. After interning with Community Impact Newspaper for two summers, she joined the staff as a reporter in 2015.
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