Texas Precious Metals
From Wikipedia, the free encyclopedia
Texas Precious Metals, based in Shiner, Texas, is one of the largest precious metals dealers in the United States.[3][4] The company reported annual revenues of $180.1 million in 2013[1] and $153.2 million in 2014.[2] The company is recognized as a market maker for United States Mint products and is an official distributor for the Perth Mint of Australia.[5][6]
 | |
| Type | Private |
|---|---|
| Industry | Precious metals |
| Founded | 2011 |
| Headquarters | Shiner, Texas, United States |
Area served | North America |
Key people | Tarek Saab, President & Co-founder Jason Kaspar, Co-founder |
| Products | Gold coins and bars Silver coins and bars |
| Revenue | 2013: $180.1M[1] 2014: $153.2M[2] |
| Website | www.texmetals.com |
History
In 2010, Texas Precious Metals originated as a joint venture project between Saab & Company Inc. and Kaspar Texas Traditions (KTT). The company maintained a business-to-business model serving the wholesale market, selling gold and silver bullion exclusively to coin shops and precious metals retailers.[7]
In 2015, Inc. (magazine) recognized Texas Precious Metals as a member of the Inc. 500. Texas Precious Metals, the largest subsidiary of Kaspar Texas Traditions comprising 99.8% revenue, was ranked the #200 fastest growing private company in America with a 3-year growth rate of 2,095%.[8]
In 2016, Texas Precious Metals responded to Texas HB 483 with a proposed solution for the Texas Bullion Depository[9] but lost its bid to Lone Star Tangible Assets.[10]
Products
The company's signature product is the Texas Silver Round.[11]
The Perth Mint Partnership
In 2014, Texas Precious Metals and the Perth Mint of Australia released the Houston-Perth "Sister Cities" coin, commemorating the strong ties between the cities' energy sectors.[12]
Corporate identity
Associations
Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA)[15] and the American Numismatic Association (ANA).[16]