Late last year, the Texas comptroller unveiled a slate of precious-metals products inspired by Texas history. Alongside the "Modern Redback" (pictured here) came the release of one-ounce gold and silver coins emblazoned with the shape of Texas on one side, and a star framed by a garland above the state motto, Friendship, on the other. The gold proof version sells for $6,842.
Shortly after the release, Shiner-based Texas Precious Metals, one of the country’s largest precious-metal dealers and depositories, filed a lawsuit against the comptroller. It argues that the state government lacks statutory authority to manufacture, promote, and sell precious-metal products.
“If a state is manufacturing coins that are made of gold and silver, and gold and silver are legal tender, does that mean that the state is issuing legal tender in competition with the federal government?” said Tarek Saab, CEO of Texas Precious Metals. Read the full story here: https://www.texasmonthly.com/news-politics/gold-coins-redbacks-bullion-depository/?utm\_source=texasmonthly&utm\_medium=webcta&utm\_campaign=giftstory&gift\_code=OTgyMzYzO2tvUWpEcE8xanhVeWJOOUJnTHhpb01qd0RoQjM7MjAyNjA1MTU=
https://i.redd.it/l5idr7nl3b1h1.jpeg
Posted by Illustrious-Plate160
2 Comments
Texas being texas 💀
Texas hillbillies need to start their own country already.
Yup. You keep your power grid and no more federal dollars. No more help. You are on your own.
The rich hillbillies know how to run a country since they are so smart lol