What States Have a Gold Depository?

What states have a gold depository

Bullion depository facilities provide superior, 24/7 security compared to what can be accomplished at home or through bank safe deposit boxes. Furthermore, this type of facility can offer greater financial transparency than can a vault at home.

Hegar’s office has successfully resolved any technical hurdles to the Texas Bullion Depository in Leander and now stands ready to accept deposits there, an encouraging victory for sound money.


Texas state Comptroller Glenn Hegar took steps in 2015 to establish America’s inaugural gold bullion depository. The state-run facility would hold deposits from financial institutions, cities, school districts, businesses, individuals and foreign governments alike.

Gold and silver could also become increasingly used as part of everyday financial transactions, countering the monopoly held by the Federal Reserve on money. Hegar stated his goal as providing Texas citizens and others the ability to invest in precious metals safely with an independent insurance policy and privately-owned depository “that serves as our own version of Fort Knox”.

Hegar’s office is currently finalizing plans for a 23,000-square-foot facility in Leander. Set to open by Lone Star Tangible Assets specializing in moving and storing precious metals, the new facility will offer free storage to Texans while charging discounted fees to non-Texans.

New York

The New York Federal Gold Vault is an underground facility at the Federal Reserve Bank of New York which holds most of United States official gold reserves as well as gold belonging to foreign governments, central banks and official international organizations.

Underneath the Federal Reserve building on Wall Street in lower Manhattan lies a massive gold depository, which houses gold crates labeled for individual countries – it serves as one of the world’s primary monetary reserves and can even be visited by members of the public according to an Atlas Obscura post.

Last year, Governor Greg Abbott signed into law legislation that established Texas’s inaugural state bullion depository. Austin-based Lone Star Tangible Assets has been selected as its operator – making history! Texans could store gold and silver without fearing forced sale by government authorities.


California boasts one of the highest concentrations of precious metal bullion dealers in America, with six locations offering gold, silver and platinum coins and bars to purchase. You may also opt to store your metals yourself – although this option doesn’t come equipped with 24-hour surveillance or insurance against theft.

James W. Marshall unknowingly ignited the California Gold Rush when he discovered flakes of gold at John Sutter’s sawmill in 1848, unbeknownst to himself; yet his discovery ultimately changed America’s economy and culture irrevocably.

California may not yet recognize gold and silver as money, but lawmakers are taking steps in this direction. Texas took an important step by creating the nation’s first state bullion depository under law in 2015 which allows private companies to manage it and charge fees to store precious metals; likely replicating this legislation elsewhere in time.


Nevada is home to numerous placer gold districts. Notable examples are the Imlay District (also known as Humboldt), in Pershing County; metal detectorists often enjoy this area where gold lies close to the surface. Prospectors also frequent Dry Gulch district for gold exploration.

Financially astute individuals regularly put aside surplus funds in an emergency fund to prepare for unexpected costs, and so it makes sense that Nevada should do the same with some of its rainy day funds.

Nevada has taken steps in recent years towards this goal, passing legislation recognizing precious metals as money and taking steps towards creating a state depository. Lawmakers are also considering laws to remove capital gains taxation on precious metals; all this would go a long way toward returning our monetary system back to its foundation as sound money – a tremendous victory for its residents!

Raymond Banks Administrator
Raymond Banks is a published author in the commodity world. He has written extensively about gold and silver investments, and his work has been featured in some of the most respected financial journals in the industry. Raymond\\\'s expertise in the commodities market is highly sought-after, and he regularly delivers presentations on behalf of various investment firms. He is also a regular guest on financial news programmes, where he offers his expert insights into the latest commodity trends.

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