“I have grave concerns that municipalities across Texas have blatantly violated the law in an attempt to crank up people’s property taxes,” Attorney General Ken Paxton said. “My message to these cities is this: don’t mess with Texas taxpayers. Local governments must abide by the law, and I will take every step to defend the people of Texas and their hard-earned dollars.”
During the regular legislative session this year, the legislature passed bills to impose additional restrictions on localities levying property taxes. Among them was SB 1851, which Gov. Greg Abbott signed into law. It went into effect Sept. 1.
It authorizes the attorney general to determine if a city government complied with municipal auditing requirements. Texas Local Government Code stipulates that municipalities must have their records and accounts audited every year and prepare their financial statements based on the audit. All related documents must be filed in the office of the municipal secretary or clerk within 180 days after the last day of the municipality’s fiscal year.
If this isn’t done, citizens have the right to file a complaint with the OAG to investigate. If the OAG investigates and determines a municipality is in violation of the law, the OAG may then prohibit it from adopting an ad valorem tax rate that exceeds the no-new revenue tax rate, according to the law.
Cities that don’t meet the state’s auditing requirements are then restricted to only increase taxes enough to maintain the previous year’s amount of revenue, according to the law.
The municipalities being investigated either submitted their reports late or not at all, according to the complaints filed. They also increased property taxes by up to 51%, well above the legally allowed no-new-revenue rate stipulated by state law.
After the leaders of the governments of La Marque, Odessa, Tom Bean and Whitesboro passed property tax increases that appeared to violate the law, taxpayers complained to the OAG, which launched investigations.
Paxton sent a letter to the mayors and city council members of each city stating, “I am formally launching an investigation into the [respective city] to determine whether the new tax rate is illegal. Furthermore, I am demanding that the new tax rate not be implemented until I complete my investigation.”
His letter to La Marque’s mayor and city council states they didn’t comply with filing requirements, filing documents six months after the deadline. His letter to Whitesboro’s mayor and city council makes a similar claim, stating they filed the required documents three months after the deadline.
Paxton’s letter to Odessa’s mayor and city council states his office hasn’t been able to find an audit report or financial statement for the previous fiscal year. It states the city’s last publicly published audit was from fiscal 2023.
His letter to Tom Bean’s mayor and city council makes a similar claim, stating the city’s last published audit was from fiscal 2020, which was uploaded online in 2022.
The letters order the officials of each city to not implement the tax hikes and requests a range of financial information and documents be submitted to his office.
“Texans deserve government at all levels that understands the impact of taxes on economic prosperity and keeps dollars in their pockets,” Paxton said. “Burdensome tax increases are antithetical to the spirit that drives Texas and require the utmost scrutiny both by the citizenry and by the State.”
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.
