Texas Gold Depository
Many individuals invest in precious metals to protect their savings. The Texas Gold Depository allows individuals to store their bullion safely in an easily accessible place while storage fees generate revenue for the state.
Lone Star Tangible Assets was chosen by the state comptroller to design and construct their depository under state oversight, adhering to stringent standards including dual controls in restricted areas as well as real-time monitoring of ingress/egress.
Located in Leander
Texas Gold Depository will become the nation’s first state-administered precious metal depository when it opens late 2018 or early 2019, and can store gold for individuals, institutions and businesses alike. Clientele is anticipated to include investors using precious metals as diversifiers.
This new facility will feature a class 3 vault for maximum security. Additionally, its resilient infrastructure can withstand natural disasters and cyber attacks, managed by LSTA–an expert in precious metal storage services.
MHT Constructors LLC of Austin has started construction of the inaugural Texas bullion depository administered by a state agency. When completed, this 40,000-square-foot Texas Bullion Depository on Heritage Grove Road in Leander will store more gold, silver and platinum than Fort Knox can hold.
Located in Dallas
This week in Dallas saw the state’s inaugural depository for precious metals open its doors – it will be managed by private storage company Lone Star Tangible Assets until 2019, when a new facility in Leander will take its place. Approved by law in 2015 and overseen by state Comptroller Glenn Hegar.
The Texas Gold Depository will serve individuals, businesses, financial institutions, cities, school districts and other public entities. Investors can purchase physical precious metals online and store them safely within an armed guard-monitored vault at this facility.
Ferris noted in prepared statements that while the depository will not generate profits on its own, both state and company revenue will be shared equally between them. He further added that due to having state recognition stamp of approval, lower storage fees than private depositories will also be offered by this facility.
Located in Houston
Depository account holders in Leander, Texas can conveniently access their metals and confirm deposits using an industry-leading depository system, featuring cutting-edge security such as physical barriers and encryption technology backed up with Lloyd’s of London insurance coverage. A password-protected portal gives access to their metals.
The depository is open to individuals, corporations, cities, counties and government agencies – it provides them with the ability to deposit gold and silver and pay for goods or services with it. The facility represents a first of its kind across the nation and could serve as a blueprint for others in similar instances.
The Texas Precious Metals Depository in Shiner may appear unassuming from the outside, with an unassuming brick office building on a tree-lined road nearby a tractor dealership, but upon closer examination something truly extraordinary emerges: it’s completely underground! Furthermore, each item within this remarkable depository is meticulously segregated and sealed so there can be no confusion as to who owns what.
Located in Austin
The Texas Bullion Depository is an award-winning vaulting facility managed by state authorities that specializes in precious metal storage. As the sole state-administered and audited vaulting facility in the country, it offers many advantages to both individual and institutional investors alike. Situated on 10 acres campus near Austin in Leander near Austin – protected by industry leading technologies, encryption, physical security measures as well as expert monitoring of deposits – The facility features state of the art security features to keep all deposits secure from harm while deposit monitoring experts monitor every deposit received.
The depository will enable financial institutions, cities, school districts, businesses and individuals to store their assets securely. Furthermore, fees charged for storage will generate revenue for the state.
In 2015, the legislature established a depository to offer safe alternatives to depositories located primarily in New York. Lone Star Tangible Assets was selected by the Comptroller’s office as the builder and operator for this state-regulated depository; Lone Star will not participate in Chicago Mercantile Exchange COMEX markets where gold futures trade occur.
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