Texas Now Lets You Pay with Gold & Silver—Here’s What It Means for You

By Franklin Metals Group

A groundbreaking new law in Texas (House Bill 1056), signed by Gov. Greg Abbott, officially recognizes gold and silver as legal tender, equipped with electronic payment options from vault to store. For Franklin Metals Group’s clients—investors, industrial users, and recyclers—this marks a significant moment in the evolution of precious metals usage and acceptance.

A New Era of Currency in Texas

Signed into law by State Rep. Mark Dorazio, HB 1056 empowers Texans to deposit gold and silver with the Texas Bullion Depository and spend it using a debit-card or mobile app system. Although participation is optional, this creates a practical framework—literally backing commerce with precious metals held in-state ℅ Comptroller-authorized systems  .

Why It Matters for Gold & Silver Investors

• Inflation hedge solidified: This move reinforces gold and silver as real money—not just hedges—enhancing their credibility in the public eye.

• De-dollarization signal: With 95% of central banks tilting toward gold, Texas’ move aligns with a broader shift away from fiat reliance.

• Potential ripple effects: Other states—such as Florida—are already moving in this direction. If more follow, demand for physical precious metals could see a meaningful uptick.

What You Should Consider Now

• Investors: Use this moment to add physical gold and silver to your strategy. Stored in trusted depositories, they’re becoming more spendable—and acceptable—every day.

• Industrial Clients & Recyclers: With new demand from the public and emerging use cases, refining and supplying gold and silver is more relevant than ever.

• Merchants & Service Providers: It may soon make sense to explore integrating precious-metal payment options—either directly or via partnership—to stay ahead of consumer trends.

Franklin Metals Group Has You Covered

• Secure sourcing of investment-grade gold and silver

• Refinement and recycling, turning scrap into spendable assets

• Logistics and storage aligned with the Texas Bullion Depository framework

Looking Forward

Texas isn’t just leading; it’s experimenting. If this model proves viable, it could usher in a new era—where precious metals return to daily transactions, not just portfolios.

Sources:

• “New Texas law means you can pay with more than dollars and cents”