The Texas Bullion Depository provides insured, segregated storage for approved gold, silver and other precious metals in Leander. Account holders retain ownership of their metals, while HB 1056 could give the facility a larger role in Texas payments beginning in 2027.
The Texas Bullion Depository has gained new attention following Texas' recognition of qualifying gold and silver specie as legal tender. But the Leander facility already serves a different primary purpose: securely storing precious metals for account holders.
Located north of Austin, the purpose-built depository operates from a high-security facility of more than 40,000 square feet.
How Texas gold storage works
The depository currently accepts approved gold, silver, platinum and palladium products. Customers first open an account, create a deposit record and deposit slip, then ship approved precious metals to the facility or arrange delivery from a dealer.
Personal, joint, business and trust accounts are among the available account types. Current application requirements include identity and address verification, and the depository says applicants must presently have a valid U.S.-issued driver's license.
Segregated bullion storage and insurance
The depository currently uses segregated storage. That means a customer's metals are kept separately, and the same precious-metal assets deposited into the account are returned when withdrawn.
Depository account-holder assets are automatically insured through the Lloyd's of London insurance marketplace. Higher declared values may also be used for certain assets, such as qualifying numismatic coins.
Account holders retain legal title to their precious metals while they are stored.
Texas Bullion Depository fees
Under the fee schedule effective April 1, 2026, non-IRA accounts with an average daily value below $500,000 are charged an annual storage rate of 0.49%, with a $25 quarterly minimum. Rates decrease at higher account-value tiers.
There is currently no account setup fee or standard withdrawal fee, although shipping, personal pickup and certain other services can carry separate charges.
HB 1056 could expand the depository's role
HB 1056 authorizes the Texas Comptroller to establish or approve electronic systems that could allow payments using currency backed by gold and silver bullion held in the Texas Bullion Depository. Those provisions are scheduled to take effect on May 1, 2027.
That system is separate from the gold-and-silver legal-tender provision that took effect on September 1, 2026. For now, the depository remains primarily a storage and custody facility, while the 2027 framework could determine how stored bullion eventually connects to electronic transactions.
