SHINER, Texas, Feb. 05, 2026 (GLOBE NEWSWIRE) -- Texas Precious Metals, a U.S.-based precious metals dealer and operator of a private bullion brand, has filed a civil lawsuit in Travis County district court related to the scope of authority exercised in connection with a state-administered bullion program.

According to court filings, the case was filed under Texas Precious Metals, LLC, v. Kelly Hancock in his official capacity as Acting Texas Comptroller of Public Accounts, and Macy Douglas in her official capacity as Administrator of the Texas Bullion Depository (Case No. D-1-GN-26-000754).

Texas Precious Metals asserts that the state’s actions infringe on the company's intellectual property and exceed the authority granted under Texas law in the design, manufacture, marketing, and sale of bullion products by or through the Texas Bullion Depository under marks registered to the complainant.

The litigation involves a line of “State of Texas” bullion products launched under the Texas Bullion Depository, a state-operated depository under the authority of the Comptroller’s Office. According to Texas statute, the depository shall act as the “custodian, guardian, and administrator of certain bullion and specie.”

Texas House Bill 483 purportedly authorizes the Depository to develop certain types of promotional materials. In this regard, Texas Precious Metals avers that Texas House Bill 483 does not mandate that the State design, manufacture, market, sell, or distribute bullion products to collectors and investors on a commercial scale, set prices, or enter the market and compete with private businesses.

The company further claims in its legal filings that these actions exceed the authority granted by Texas House Bill 483. The lawsuit seeks judicial clarification regarding the statutory limits of the depository’s activities and the permissible scope of government participation in commercial bullion markets.

Industry context cited in filings

The complaint also discusses the significance of reputation, authenticity, and provenance in the precious metals sector. The complaint states that buyers of bullion products use identifiable marks and mint signatures to verify authenticity, and that such identification plays a significant role in ensuring authenticity.

Texas Precious Metals, according to the lawsuit, alleges that it has been using the outline of the State of Texas as a privy mark on its bullion items produced through its private minting business, Texas Mint for over a decade. The filing notes that millions of products bearing that mark have been distributed into the market through the company and third-party retailers.

Trademark allegations

Court documents further state that the trademarks at issue are federally registered under International Class 14, which includes precious metals, coins, and bullion products. The complaint asserts that the company does not claim exclusive rights to the outline of Texas in all uses; however, it alleges that trademark protections apply when such imagery is used in connection with commercial bullion products.

The lawsuit references established principles of federal trademark law, recognizing that geographic imagery may acquire distinctiveness through consistent commercial use and consumer association.

State bullion program referenced

The complaint references the Comptroller’s Office’s announcement of the Texas Lone Star Coins and Modern Texas Redback Gold Notes program, which state officials have described as a new program of the Texas Bullion Depository. According to public statements cited in the filing, the products were presented as state-directed offerings intended for investors and collectors.

The court has not ruled on the claims, and the allegations described above remain subject to judicial determination.

All media inquiries and interview requests should be directed to Thomas Mustac, Senior Publicist at Otter PR, at thomas.mustac@otterpr.com.

About Texas Precious Metals

Established in 2011, Texas Precious Metals is one of the largest precious metals companies in the world. As a market maker for gold and silver coins and bars, the company services retail, wholesale, and institutional clients. The company’s online retail platform, texmetals.com, world-class depository, and fulfillment and logistics service center have been widely praised for their speed and attention to customer service. Texas Precious Metals offers a line of custom-minted products under the brand, Texas Mint, producing a wide variety of licensed products for Texas A&M University, the Professional Rodeo Cowboys Association, UFC, and other partners. Texas Precious Metals is a member of the London Bullion Market Association (LBMA).