Gold and Silver become legal tender in Texas

[1srelluc]

https://www.kxan.com/news/texas-politics/gold-silver-become-legal-tender-in-texas-under-new-law/

USTIN (KXAN) — Texas has joined a growing movement of states establishing gold and silver currency systems, after Gov. Greg Abbott signed House Bill 1056 into law on June 29, creating what supporters call the most comprehensive precious metals transaction framework in the nation.

The legislation allows Texans to use precious metals stored in the state-run Texas Bullion Depository for every day purchases through debit cards and mobile applications, positioning Texas alongside Arkansas, Florida, and Missouri as states advancing precious metals currency legislation this year.

“I signed a law authorizing Texans to use gold & silver as legal tender in day-to-day financial transactions,” Abbott announced via X. “It fulfills the promise of Article 1, Section 10 of the U.S. Constitution.”

Huh, federally it's treated as a commodity so it's a trade not a monetary transfer....No tax.

Tt's barter and barter is not taxable. Seems like window dressing to me but is sure looks good in the media.

Gotta watch TX as they will turn it into some sort of money grab.

 

[Toddsterpatriot]

https://www.kxan.com/news/texas-politics/gold-silver-become-legal-tender-in-texas-under-new-law/

USTIN (KXAN) — Texas has joined a growing movement of states establishing gold and silver currency systems, after Gov. Greg Abbott signed House Bill 1056 into law on June 29, creating what supporters call the most comprehensive precious metals transaction framework in the nation.

The legislation allows Texans to use precious metals stored in the state-run Texas Bullion Depository for every day purchases through debit cards and mobile applications, positioning Texas alongside Arkansas, Florida, and Missouri as states advancing precious metals currency legislation this year.

“I signed a law authorizing Texans to use gold & silver as legal tender in day-to-day financial transactions,” Abbott announced via X. “It fulfills the promise of Article 1, Section 10 of the U.S. Constitution.”

Huh, federally it's treated as a commodity so it's a trade not a monetary transfer....No tax.

Tt's barter and barter is not taxable. Seems like window dressing to me but is sure looks good in the media.

Gotta watch TX as they will turn it into some sort of money grab.

 

[Stann]

https://www.kxan.com/news/texas-politics/gold-silver-become-legal-tender-in-texas-under-new-law/

USTIN (KXAN) — Texas has joined a growing movement of states establishing gold and silver currency systems, after Gov. Greg Abbott signed House Bill 1056 into law on June 29, creating what supporters call the most comprehensive precious metals transaction framework in the nation.

The legislation allows Texans to use precious metals stored in the state-run Texas Bullion Depository for every day purchases through debit cards and mobile applications, positioning Texas alongside Arkansas, Florida, and Missouri as states advancing precious metals currency legislation this year.

“I signed a law authorizing Texans to use gold & silver as legal tender in day-to-day financial transactions,” Abbott announced via X. “It fulfills the promise of Article 1, Section 10 of the U.S. Constitution.”

Huh, federally it's treated as a commodity so it's a trade not a monetary transfer....No tax.

Tt's barter and barter is not taxable. Seems like window dressing to me but is sure looks good in the media.

Gotta watch TX as they will turn it into some sort of money grab.

Silver is used much more than it has been in the past. It goes into everything from cars to solar panels. The price should be around $100.00 an ounce. Today's trading ( July 24 , 2025 ) it is rising but only at a little above $38.00 an ounce. At least it's headed in the right direction
An enormous correction is now overdo on it. Watch and wait , it will happen and it will happen due to demand.

 

[Deplorable Yankee]

Blank silver and gold rounds are your friends
Everyone should have a Lil stash of bullion blanks

 

[Stann]

Blank silver and gold rounds are your friends
Everyone should have a Lil stash of bullion blanks

Agreed.

 

[Toddsterpatriot]

Silver is used much more than it has been in the past. It goes into everything from cars to solar panels. The price should be around $100.00 an ounce. Today's trading ( July 24 , 2025 ) it is rising but only at a little above $38.00 an ounce. At least it's headed in the right direction
An enormous correction is now overdo on it. Watch and wait , it will happen and it will happen due to demand.

You should borrow all you can to buy all the silver you can, $100 must be the next stop!

 

[Cassandro]

Silver is used much more than it has been in the past. It goes into everything from cars to solar panels. The price should be around $100.00 an ounce. Today's trading ( July 24 , 2025 ) it is rising but only at a little above $38.00 an ounce. At least it's headed in the right direction
An enormous correction is now overdo on it. Watch and wait , it will happen and it will happen due to demand.

Gold/Silver price ratio is about 90:1. Do you forecast a change up or down? I think gold is going to explode over the next year, maybe with currency revaluation. What is the best way to invest and avoid 28% capital gain taxes? Options or futures?

 

[OhPleaseJustQuit]

Gold/Silver price ratio is about 90:1. Do you forecast a change up or down? I think gold is going to explode over the next year, maybe with currency revaluation. What is the best way to invest and avoid 28% capital gain taxes? Options or futures?

.

Unless the metal is in your hands, it's just a pretty piece of paper.

.

 

[Stann]

Gold/Silver price ratio is about 90:1. Do you forecast a change up or down? I think gold is going to explode over the next year, maybe with currency revaluation. What is the best way to invest and avoid 28% capital gain taxes? Options or futures?

I am no expert , some say I'm a fool. But I see a highly volatile cycle that always ends up on the upward trend. Silver closed at above $41.00 on Friday. I'm selling half of what I have when it reaches $50.00. China is buying up gold and silver everywhere they can. It's a smart ve. BRICS will no doubt cause US more problems. Hopefully not a crisis though
Even they don't want to rock the boat.