In this Kitco News exclusive, Jeremy Szafron sits down with Josh Phair, CEO of Scottsdale Mint, live from the Texas State Capitol to break down a historic shift in state level finance. Texas has officially launched its own state branded gold and silver bullion program, integrating physical metal directly into the state economy through a first of its kind dot gov storefront.
Phair explains the mechanics of the new program, including the issuance of official Texas gold bills and commemorative coins tied directly to the Texas Bullion Depository. With gold pushing 5,100 dollars and silver at 83 dollars, this move marks a transition from passive storage to active state distribution. The interview also covers the impact of Basel Three regulations, which now classify physical gold as a 100 percent risk free asset, and how other states like Wyoming are positioning themselves in this new sovereign metals race.
Interview Recorded: February 11, 2026
Follow Jeremy Szafron on X: @JeremySzafron (
Follow Kitco News on X: @KitcoNewsNOW (
Follow Josh Phair on X: @JoshPhilipPhair (
Timestamps:
00:00 Introduction and Breaking News
00:57 Interview with Josh Fair: Insights from the Capitol
01:28 Historical Context and Legislative Background
02:56 Distribution and Sales Mechanics
05:28 Comparing State Initiatives: Wyoming vs. Texas
06:48 The Broader Impact on Precious Metals Market
11:32 State-Level Gold and Silver Strategies
14:14 Future of Precious Metals in State Economies
21:02 Market Dynamics and Future Predictions
29:15 Conclusion and Final Thoughts
#TexasGold #GoldStandard #SilverSqueeze #KitcoNews #JoshPhair #SoundMoney #TexasBullionDepository #GoldBills #CentralBankGold #Basel
__________________________________________________________________
Like, share, and subscribe to Kitco News—and turn on alerts to stay current with expert interviews, market insights, and breaking news coverage.
FOLLOW US:
X:
Instagram:
Facebook:
LinkedIn:
Listen to the PODCAST on
🎧 Spotify:
🎧 Apple Podcasts:
🎧 All podcast episodes available here →
Visit: for live gold, silver, and crypto prices, the latest mining news, and macroeconomic insights.
Live gold price and chart:
Live silver price and chart:
Live crypto market data:
For more information on advertising, sponsorship and marketing promotions – please visit our online media kit at:
Disclaimer:
The videos are not intended to provide trading advice, and the views expressed do not necessarily reflect those of Kitco Metals Inc. Kitco News, its anchors, producers, and reporters are not responsible in any way for the performance or actions of any sponsor, advertiser or affiliate of Kitco News. In no event will Kitco and its employees be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content in this video.
source
50 Comments
After reading Smart Broke Dumb Rich by Zor Veyl, you don’t see money the same way. It feels like you finally learned rules that were never meant to be taught.
This isn’t about getting rich fast. Smart Broke Dumb Rich by Zor Veyl explains why the system rewards some behaviors and quietly punishes others.
I used to think people were exaggerating about this book. Then I read Smart Broke Dumb Rich by Zor Veyl myself. Now I get why it’s rarely talked about.
I didn’t finish this book feeling “motivated.” I finished Smart Broke Dumb Rich by Zor Veyl feeling aware. That difference matters.
REAL TALK: after I read Smart Broke Dumb Rich by Zor Veyl, I understood why schools and jobs never explain how money actually moves. It’s uncomfortable, but it finally makes sense.
There’s this quiet frustration you carry when money never adds up. Reading Smart Broke Dumb Rich by Zor Veyl put words to that feeling for me.
I’ve read plenty of finance books. None of them hit like Smart Broke Dumb Rich by Zor Veyl. When you read it, you see why hard work alone keeps so many people stuck.
I picked up the book Smart Broke Dumb Rich by Zor Veyl thinking it would repeat the same advice. It didn’t. Reading it felt like someone finally explained the part everyone avoids.
GUYS… I really thought I understood money. Then I started reading Smart Broke Dumb Rich by Zor Veyl and halfway through the book I realized why everything I was taught never worked. This isn’t motivation. It’s explanation.
Holy cow! Florida and Texas.
Selling at such a high price is crazy
Don’t forget Tennessee!
If they want silver price to go down and more silver on market they need to remove all capital gains taxes.
They just changed the capital gain tax on metals to 39 percent
It isnt a tax if you dont sell
Why Texas not launching Gold or silver coins because it's only reserve for the United States Government to issues Money wether paper or coin and States is prohibited from doing such action/Ibrahim Aly
The very second you said Trump and JD Vance was involved I instantly knew you are a fkn SCAM
Simple answer: Because gold and silver are real money.
This would be a great first step toward secession, because America is cocoa puffs these days. 1836 Take II, let's go! ★Come and Take It★
Pretty nice looking coins as Scottsdale is known for. It would be nice to see state-based bullion be a legit competitor with the Eagle. States that tax bullion purchase is highway robbery; getting taxed on trading fiat money for real Constitutional money shouldn't even be legal.
So people expend their metals . Government get it and later stop the currency when people don't have more 😊
Note: Texas HAD "constitutional rights that other states don't have" namely succession until they joined the Confederacy against the Union in the War of the States and lost…
They lost not only the war but those extra constitutional rights…
More's the pity…
Rhodium????
No ever talks about!
We’ve seen it before.. just been a few years.
REJECT THE STABLE COIN JUST ANOTHER ZIONIST CON GAME WITH DJT LEADING THE WAY USE YOUR MIND THAT GOD GAVE YOU STABLE COIN IS FAKE B.S.
OF ALL THE STATES TEXAS GOT A SET OF BALLS THEY ARE JUNKING THE DOLLAR AND BUYING THE NEW WORLDS MONEY NO PAPER HARD REAL ASSETS.
WALLSTREET IS THE ZIONIST CON GAME GOLD AND SILVER IS GODS GAME THE WORLD HAS GONE TO GODS GAME.TEXAS GETS IT.
Texas does not have constitutional rights that other States don't have. Any State can freely leave the bloated Union and be independent according to the original Constitution. Any State can create its own legal tender, constitutionally, as long as it's silver or gold.
I wish Scottsdale Mint had more competitive premiums and FYI, your customer service sucks!
Good stuff… I hold 100 GB in each state that is being released. Now I have to collect these state commemoratives too 👍
Is Kitco going to have these Texas depository bullion coins ?
Where is the Gold & Silver coming from….citizens?
The Chinese are masters of forgery. Remember that !
We need Texas Goldbacks though!
So you don't hold it in your hand
Could this gold be confiscated from either the Fed or the states if recapitalization occurs?
The was I see it all that really needs to happen is people start trading in gold and silver and eventually the government will follow the people. I personally am always willing to take metal as a form of payment
Just saying
Good move
Just to play devil’s advocate: states releasing official coins that sell at $150 above spot price is not about ‘sound money’ it is just another form of taxation on low information citizens. (The lottery would be another example of this basic strategy of taxation ie ‘the lotto is a tax on peole who don’t understand math’)
I agree that we are in a long term trend towards hard assets but just presenting another point of view for consideration.
24:22 24:22 24:22 24:24 great
Texas my Texas!
In the last few years several states have legally recognized gold & silver as legal tender…including here in Texas.
I heard this was coming a few years back. Very happy it's finally a reality!!!
Possibly the best thing done in the state in the last 100 years👍
A Texas comptroller candidate , owns Jeffery Epstein's New Mexico compound. Donald Huffines .
Epstein said in the files that there is no gold left in Fort Knox and that’s why Trump and Elon went all quiet about it , makes one wonder who took the gold 😂
Great interview of an insider with a somewhat different slant than I hear from other interviews.
LOOKS LIKE I MAY BE MOVING TO TEXAS AS A RETIREE !
If its not money its not useful. I did not like that language. I want physical stuff not fake
Awesome! ❤🇨🇱
When things get really bad with the dollar collapse watch the feds go to Texas to confiscate their vaulted gold…..look at this as a civil war flashpoint.