A New Fort Knox for Texas Gold Investors
Texas, a trend-setting state for Gold Investment
Texas Gold Investors have a new Fort Knox — If you are a resident of Texas and have any gold coins, bullion, precious gems of jewelry that need safe storage, you have a great option. Texas now has the first of its kind Bullion Depository, in the U.S., which opened to the public in Austin at the beginning of June. This bullion depository took three years of planning and construction. Lone Star Tangible Assets is the private firm managing the new facility. The managing company, refers to it as the “world’s most advanced depository.”
This news may inspire other states to implement or expand their very own similar depositories. Texas appears to be on the forefront and setting trends for other states to follow. This new depository may even attract more investors to precious metals, which many consider critical elements of any diversified portfolio. A number of portfolio managers have noted that, gold has very little or zero correlation to other investment assets such as equities, cash and Treasuries.
The new safe keeping deposit option for gold bullion
Having this new safe keeping deposit option for gold bullion now makes it especially attractive more than any time since the 2007-2008 financial crisis. Up until the beginning of 2020 the economy has seen one of the longest economic expansions since World War II.
investors rush to hard assets
Unprecedented quantitative easing/stimulus that we have seen drives inflation. Of course the stock market going up is also an inflation measurement but the entire commodities complex is undergoing a huge expansion. Iron ore, copper, oil, gold – you name it – its all going up. The housing market inflation in the US is also eye-watering. All this inflation has yet to wind its way into consumer pockets as secondary inflation, but its coming. And with inflation concerns come concerns about the purchasing power of the US dollar. When inflation and dollar strength concerns are high, investors rush to hard assets to protect themselves – stocks, property, crypto, gold – you name it.
Texas Bullion Depository FAQs
Frequently Asked Questions
Are my deposits insured when stored at the Texas Bullion Depository?
Yes. The full metal content value of Depository Account Holder assets is automatically insured through the Lloyd’s of London insurance marketplace. If you declare a higher market value, such as for a numismatic coin, your asset is insured at the higher value.
Who owns the Texas Bullion Depository?
The Texas Bullion Depository is an agency of the State of Texas.
Where is the Texas Bullion Depository located?
The Texas Bullion Depository is located in Austin, Texas – the capital city of the State of Texas. Lone Star Tangible Assets, the operator of the Texas Bullion Depository, is currently in the process of constructing a new, expanded facility in Leander, Texas, just north of Austin.
Will personal information that I provide to the depository be protected?
Our policy is to respect an individual’s right to privacy. We will take all necessary steps to protect your personal and financial information from disclosure. Common-law privacy protects personal information for which the public has no legitimate interest and for which disclosure would ordinarily be objectionable. Other information that is specifically protected by law includes your date of birth, social security number, and account access number.
Are my metals stored separately (segregated) from all other Depository Account Holders?
Yes. The depository currently only offers segregated storage, which means the metals you submit for storage under your account are the exact same metals you will receive back when you make a withdrawal from your account.
Who can store precious metals at the Texas Bullion Depository®?
As of April 1, 2018, U.S. citizens and residents, including business entities can open an account at the depository. Services for depositors from other nations will open in the future.
Will the Texas Bullion Depository ever have a pooled storage offering?
The depository will offer a pooled method for storing gold or other precious metals in the future.
Who audits the Texas Bullion Depository?
The Depository Administrator, who is appointed by the Texas Comptroller of Public Accounts, has direct oversight and audit privileges regarding all Depository Account Holder accounts. In addition, the depository is audited by a well-known Texas-based accounting firm, and it submits those reports to the Comptroller for review according to a regular schedule. Finally, the depository is subject to audits from the State of Texas.
