A new law that allows Texans to use precious metals in day-to-day transactions took effect Tuesday.
Supporters of the measure say it aligns with Texas’ constitutional principles and offers consumers an alternative to fiat currency.
Authored by State Rep. Mark Dorazio (R–San Antonio), House Bill 1056 allows for Texans to deposit precious metals with the Texas Bullion Depository in Leander and use it as legal tender.
Dorazio told Texas Scorecard that the measure also “lays the groundwork for Texans to use them electronically in everyday transactions—so that sound money is something you can actually spend, not just something you lock in a safe.”
“I spent forty years building a construction company,” said Dorazio. “I’ve watched inflation eat the paychecks and the savings of the people who build this country. The problem isn’t only that things cost more — it’s that the dollar buys less every year.”
Dorazio said that although no one is required to use it, the new law provides Texans “a way to protect what they’ve earned.”
According to the law, the comptroller’s office will contract with a debit card provider, which will facilitate the conversion of gold and silver deposited into an account to dollar amounts at the point of sale.
The measure was signed into law by Gov. Greg Abbott in June 2025.
At the time, now-Comptroller Don Huffines praised the move and pledged to “ensure this system is secure, transparent, and accessible, with real-time pricing, fraud protection, and no government tracking or central bank control.”
Huffines further asserted that he will protect Texans’ “right to financial sovereignty, making Texas the national leader in sound money.”
The comptroller’s office is expected to release guidance and possibly conduct additional pilot programs to help ensure a smooth rollout.
