Texas Aims to Get Its Gold Back, Reports Gold Coin

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Texas Governor Rick Perry is working with members of the Texas state legislature to relocate the state’s $1 billion in gold reserves from New York to Texas, reports America’s Gold Coin Superstore, Gold Coin.

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The safest way to invest in gold is to buy physical gold bullion bars and coins.

The Texas Tribune is calling it the Rick Perry gold rush. The state’s governor is attempting to bring Texas’ gold reserves within state lines. He has support in the state legislature, as well. Republican representative Giovanni Capriglione is proposing a bill that would establish the Texas Bullion Depository, in which to house the $1 billion of gold bars currently stored at the Federal Reserve bank in New York. The gold is owned by the University of Texas Investment Management Company. Perry and Capriglione maintain that housing the gold within state lines would promote economic growth by enhancing the state’s reputation as being financially secure.

“If we own it,” Perry said on the radio show of conservative pundit Glenn Beck on Tuesday, “I will suggest to you that that’s not someone else's determination whether we can take possession of it back or not.”

Arthur McGuire, Vice President of Gold Coin, says, “By attempting to have complete physical possession of its gold reserves, Texas is embodying the spirit of owning physical gold. They don’t want the certificates, they want the real thing. And that’s not unreasonable. The point of owning physical gold is to have it close in case it is needed. Household investors can take a lesson from the state’s actions. Owning gold on paper, no matter how reputable the institution that guarantees it, is no substitute for being in possession of the physical element. You don’t know how many other investors have a certificate to the same gold as yours. The safest way to invest in gold is to buy physical gold bullion bars and coins.”

Gold Coin (GoldCoin.com) is America’s Gold Coin Superstore with over two decades of experience advising household investors on smart physical gold investments and gold coin IRA and 401k plans. They buy and sell all types of gold, silver and platinum coins and offer free delivery directly to your door. For more information or a free "Gold Coin Starter Kit", visit http://www.GoldCoin.net or call 1-800-425-5672 today.

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Arthur McGuire
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