Guides
Bullion storage options in Texas, a guide to the state depository and vault rules
Texas bullion storage runs from the state depository in Austin to private vaults in Dallas and Houston, each with its own title, insurance and fee terms.
What to take away
- The Texas Bullion Depository is a state chartered facility in Austin, created by 2015 legislation and supervised by the comptroller's office. It stores metal, it does not sell it.
- Private vaults in Dallas and Houston are ordinary businesses. No Texas license covers them, so your storage agreement is the protection.
- Allocated storage titles specific numbered bars to you. Unallocated storage gives you a claim on a pool, which is cheaper and weaker if the operator fails.
- FDIC coverage does not apply to bullion. Coverage comes from the vault's policy, and a per facility limit can leave a shortfall shared among account holders.
- Storage fees are quoted as an annual percentage of metal value with a monthly minimum. Compare the whole fee stack, not the headline rate.
- Keep the invoice, assay certificate, serial numbers and every statement. Without them, a withdrawal or an estate claim stalls.
How Texas approaches state-backed bullion storage
Most states leave bullion custody to private vault companies and banks. Texas built a depository of its own, then moved the metal the state already owned into it.
The authority split matters. The federal government sets coinage, currency and interstate commerce rules. States set property, contract and insurance law. A guide to those two layers sits on the federal branches of government page. Bullion sits at the join: a Texas contract, a federal tax rule, a private carrier.
Federal agencies touch the market in narrow ways. The U.S. Mint strikes coins. The CFTC oversees futures, not vaulted bars. The SEC and FINRA cover securities, and bullion is not one. The IRS taxes a sale, not the storage.
Notices that change reporting or currency rules appear in the Federal Register money section. A threshold change can reach a Texas vault account.
State officials do not inspect private vaults the way they inspect banks. Outside the state depository, the contract is your main protection.
The Texas Bullion Depository: structure and what it accepts
The Texas Bullion Depository was created by legislation in 2015 and opened for business in 2018. It operates in Austin, with the comptroller's office as the supervising state agency.
It holds metal for account holders rather than selling metal. You buy elsewhere, deliver the metal in, and the depository stores it under an account agreement.
Accepted forms include gold, silver, platinum and palladium bars and coins that meet the depository's fineness and packaging standards. Common bullion coins and standard minted bars usually qualify. Numismatic or damaged pieces may not.
Intake is the slow part. Metal is weighed, tested and matched to your paperwork before it is booked to your account. Expect a hold while that happens.
The depository was designed to hold state owned bullion as well, which gives it a public function beyond private storage. It is not a bank. Deposits are not FDIC insured, and the state does not guarantee the value of your metal.
Private vaults in Dallas and Houston compared
Private vaults in Dallas and Houston are independent businesses. They range from purpose-built facilities with armed logistics to small deposit-box style operations.
Dallas vaults serve the north Texas market and interstate clients. Houston vaults serve the Gulf Coast, energy money and international trade, and some sit near the port and airport corridors.
The practical differences are not the city. They are the building, the insurance, the audit and the paperwork. A Houston vault in a hardened concrete structure with segregated cages is a different product from a Dallas deposit box in a storefront.
Ask each operator four things: who holds legal title, what insurance covers the metal, who audits the inventory, and how a withdrawal is scheduled. A vault that cannot answer all four in writing is not comparable to one that can.
For how a private vault stacks up against a home safe or a bank box, see this guide to bullion formats and mint specifications.
| Feature | Texas Bullion Depository | Private vault, Dallas or Houston |
|---|---|---|
| Owner | State chartered entity | Private company |
| Location | Austin | Dallas, Houston or both |
| State supervision | Yes, comptroller's office | No |
| Accepted metal | Gold, silver, platinum, palladium to standard | Varies by operator |
| Title | Allocated accounts | Allocated or unallocated |
| FDIC coverage | No | No |
| Audit | State and internal | Internal, sometimes third party |
| Access | By appointment and procedure | By contract terms |
Insurance requirements and coverage limits under Texas law
Texas does not require a private bullion vault to carry a set amount of insurance. No state license guarantees your bars are covered.
What exists is contract law. Your storage agreement states whether the operator insures the metal, up to what limit, and what happens if the limit is too low for your holding. Read that clause before you sign.
A market value policy pays what the metal is worth at the loss. A limit per account or per facility caps the payout. If a vault holds $200 million in metal and carries $50 million in coverage, the shortfall is shared among account holders.
For the state depository, insurance and bonding terms sit in the depository's own rules and account agreement, not in a general Texas insurance statute for vaults.
Home policies rarely cover bullion well. Standard homeowners and renters policies often cap or exclude coins and bullion, and a rider may be needed. The bullion pricing guide helps you line up the coverage questions before you commit.
Who pays when a dealer or custodian fails is partly a consumer protection question. Federal guidance on money and credit fraud covers disputes, chargebacks and reporting routes that apply to bullion deals.
Allocated versus unallocated storage in Texas facilities
Allocated storage means specific bars or coins are titled to you and held separately. The serial numbers appear on your statement. You own those pieces, not a share of a pile.
Unallocated storage means you own a claim on a pool of metal. It is cheaper because the operator can move metal around and hold less idle inventory. It is also weaker if the operator fails, because you are a creditor.
Most Texas private vaults offer both. The state depository deals in allocated accounts. Some operators offer a middle option, sometimes called pooled allocated, where bars are segregated but not individually numbered to you.
Allocated storage usually costs more per month and may carry a minimum holding. That premium buys clearer title and a simpler claim if something goes wrong.
If the amount is small, unallocated can be reasonable. If it is a meaningful part of your net worth, allocated is the safer default. Get the title language in writing either way.
Access, audit and withdrawal procedures
Access is where storage contracts differ most, and where investors get surprised.
- Request access in writing and confirm your identity under the account agreement.
- Book a date. Most vaults need notice, from one business day to several weeks for large movements.
- Pass verification at the facility, which may include photo ID, a signature match and a second factor.
- Inspect your metal in a viewing room, with your bar numbers checked against your statement.
- Complete the withdrawal or release form and take delivery or arrange insured transport.
Audits matter as much as access. Ask who counts the metal, how often, and whether an outside firm signs off. An internal count is weaker than a third party audit you can read.
Withdrawal can be refused or delayed if your account is not current or if the metal sits in an unallocated pool that has to be sourced. Allocated accounts are easier to pull from.
Weights and purity claims should trace to recognized measurement standards. NIST metrology underpins the calibration chain behind balances, assays and the certificates a vault relies on.
Costs, fees and how to compare Texas storage options
Storage fees in Texas are usually quoted as an annual percentage of metal value, with a monthly minimum. Small holdings pay more per ounce in percentage terms.
Watch the whole fee stack, not the headline rate. Intake and assay fees, shipping, insurance surcharges, withdrawal fees and account minimums all land on you.
Comparing two quotes means comparing the same holding. Price a fixed amount of gold at each vault, add every fee for one year, then add the cost of one withdrawal.
- Confirm the annual storage rate and the monthly minimum
- Get the intake, assay and shipping fees in writing
- Check whether insurance is included or billed separately
- Ask the withdrawal fee and the notice period
- Confirm allocated or unallocated status in the contract
- Request the latest audit report
- Check the account minimum and any early closure fee
A cheap rate with a weak insurance clause is not cheaper. A higher rate with clear title and a readable audit is often the better trade.
Records and documentation to keep for stored bullion
Your records are the proof of what you own. A vault statement alone is not enough, because it is the operator's document, not yours.
Keep the purchase invoice, the assay certificate, the bar or coin serial numbers, the storage agreement, the fee receipts and every statement. Store copies off site and in digital form.
Reconcile the statement against your own list at least once a year. If a bar number changes without a transaction, ask why in writing.
The failure mode is dull and common: a flood, a house move or a death leaves an heir with no way to prove the metal exists. The gold bullion buying guide shows how quickly a claim stalls without paperwork.
The platinum and palladium bullion guide walks through what to keep and how to hand it to someone else. The silver bullion guide shows how a records system is rebuilt after a loss.
Common questions
Is the Texas Bullion Depository run by the state?
Yes. It is a state chartered entity supervised by the Texas comptroller's office, and it holds both state owned and privately owned metal. It stores metal rather than selling it.
Are private vaults in Dallas and Houston regulated by Texas?
Not by a vault license. They are ordinary businesses bound by contract law, so the storage agreement and its insurance clause carry most of the weight. Ask for the audit report and the title language before you sign.
Does the FDIC or the state insure bullion in a vault?
No. FDIC coverage applies to bank deposits, not bullion. Coverage comes from the vault's own insurance policy or from a separate policy you buy.
What is the difference between allocated and unallocated storage?
Allocated means specific numbered bars are titled to you. Unallocated means you hold a claim on a pool, which is cheaper and weaker if the operator fails. The state depository deals in allocated accounts.
