In the wake of Texas's announcement that bit plans to build a massive gold bullion depository, major international precious metal firms are vying for a piece of the action, reports The Texas Tribune.
Some of the proposals are rather ambitious. Texas Precious Metals, which runs a private bullion depository in Shiner, Texas, said it would “build a 46,000+ square foot independent depository; a monument of the state of Texas.” Armored car giant Brink's said it would look into utilizing the company’s “existing facilities to provide the vault storage services.” Anthem Vault, based in Las Vegas, proposed “multiple vaulting locations throughout Texas to enable all Texans access to their bullion within a reasonable distance from their homes. But Delaware Depository, a precious metals dealer had a warning for the Lone Star State: “The State of Texas should carefully consider the consequences of moving the gold bullion to Texas. The cost of relocation, internal cost of storage, and negative impact on liquidity may greatly exceed the storage savings.”