Frequently Asked Questions
Who can store precious metals at the Texas Bullion Depository?
A: 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.
Are my deposits insured when stored at the Texas Bullion Depository?
A: 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.
Are my metals stored separately (segregated) from all other Depository Account Holders?
A: 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.
Will the Texas Bullion Depository ever have a pooled storage offering?
A: The depository will offer a pooled method for storing gold or other precious metals in the future.
How do I create an account to store my precious metals with the Texas Bullion Depository?
A: You can store your approved precious metal items at the Texas Bullion Depository upon the approval of your account at the depository. The process of applying for an account can be completed online by following the Open New Account link on the homepage and located at the upper right corner of webpage.
What is a Depository Agent?
A: Depository Agents are the precious metal entities licensed by the Texas Department of Banking to act as intermediaries between the depository and clients.
Do I need to work with a Depository Agent to have an account at the Texas Bullion Depository?
A: No. You do not need to work with a Depository Agent to have an account at the depository or store your precious metals, you can simply create an account on your own and submit your metals for storage if you choose.
How much does it cost to store my precious metals at the Texas Bullion Depository?
A: The cost to store your metals at the Texas Bullion Depository varies based on the total value of the metals stored in your account, multiplied by an annual storage rate for that value bracket. Please review our Pricing link under the “Account Information” tab on the homepage.
What precious metals can be stored at the Texas Bullion Depository?
A: At this time we accept Gold, Silver, Platinum and Palladium precious metal products. A general list of approved precious metals is provided during the deposit process. Additionally, there is a search field within the deposit process that will allow you to search for the type of precious metals you are trying to submit. Please check to see if your precious metals are listed. If the precious metals products you would like to submit are not listed, please use the link on that page to submit a request for it to be added to the approved items list. The list of acceptable precious metal items will continue to be expanded, so please check it frequently.
Who audits the Texas Bullion Depository?
A: 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.
Who owns the Texas Bullion Depository?
A: The Texas Bullion Depository is an agency of the State of Texas.
Where is the Texas Bullion Depository located?
A: 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?
A: 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.