Texas State Metal Vault Beats Challenge to Coin Sales

Texas’ state-operated precious metals storage vault can continue to sell commemorative coins, a federal judge ruled Tuesday, though a competitor says it relies on deceptive marketing to boost sales.

The Texas Bullion Depository likely has authority to sell coins and notes as promotional items, Senior US District Judge David Ezra said in a written order in the Western District of Texas.

The state vault also didn’t intentionally mislead consumers into believing its coins are official tender, Ezra said, pointing instead to “broader confusion” in the marketplace.

Ezra denied a preliminary injunction request from Texas Precious Metals LLC, an industry leader ...