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Gold: Texas Rolls Out its Own Non-Monetary Money

VBL's Photo
by VBL
Thursday, Feb 12, 2026 - 13:05

GFN – AUSTIN: Texas officials said February 11, 2026 that the state has launched state-branded 1-ounce gold and silver bullion products that will be sold via the Texas Comptroller’s office, with distribution and custody options integrated with the Texas Bullion Depository, according to details provided by the program’s manufacturer.

 

In an interview on Kitco, Scottsdale Mint CEO Josh Phair said the initial rollout consists of “official commemorative coins” that are not legal tender, with two versions each of gold and silver (proof and brilliant uncirculated) in 1-ounce format.

“They have done what we would call or what they would call official commemorative coins. And so they are not legal tender.”
Phair said the coins are expected to be distributed broadly through the bullion retail network while also being offered directly on a Texas government website, an approach he described as unusual for bullion-style products in the US.
“They will also be selling it on a .gov website, which I don’t know if we’ve ever seen anything like this before, at least in the United States.”


He added that Texas is also rolling out “gold bills” as part of the broader program, though Scottsdale Mint is only producing the gold and silver coins.
“They’re actually doing gold bills as well. So, official state of Texas bills.”
Phair linked the Texas launch to a broader state-level trend, citing Wyoming’s 2025 decision to begin purchasing physical gold for state reserves following passage of enabling legislation. He noted that his separate vaulting operation in Wyoming was selected over larger financial institutions in that process and said the move effectively placed “the plumbing” in place for recurring physical allocations

“The state bought its first physical gold.”
He characterized Wyoming as operating a sovereign-buyer model while describing Texas as moving toward a sovereign-distributor model through state vault integration and direct bullion access.
“You take Wyoming for example, they’d be a top 20 sovereign wealth fund in the world if they were in that category.”
Phair said multiple states are now evaluating similar measures, including reserve allocations, bullion tax reforms and in-state custody strategies designed to retain capital flows within state borders.
“Yes, it’s beginning.”

 

He added that retail demand has accelerated alongside elevated government and institutional interest, contributing to extended lead times for certain fabricated products and tighter flows in some regions as metal shifts toward the US and Asia.

“Europe is seeing a lot of the metal leave.” 

Full video in **Breaking: Texas Launches Own Money Gold and Silver Coins here unlocked

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