DGSE Companies

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DGSE Companies, Inc.
Type Public company
Traded as NYSE MKTDGSE
Industry Retail and wholesale
Founded 1965
Headquarters Dallas, Texas, United States
Number of locations 12 stores throughout in Texas, Illinois, and South Carolina
Area served United States
Key people Dusty Clem, CEO
C. Brett Burford, CFO
Products Jewelry, Diamonds, Rare Coins, Precious Metals, Watches
Revenue US$100,000,000
Employees 250+
Divisions Bullion Express
Dallas Gold & Silver Exchange
Fairchild International
Charleston Gold & Diamond Exchange
Website www.dgse.com

DGSE Companies, Inc. is a leading precious metal and jewelry wholesaler and retailer in the Southwestern United States, headquartered in Dallas, Texas.[1][2]

History[edit]

Originally known as American Pacific Mint Inc., they incorporated in Nevada in September 1965, and later moved to Azusa, California.[3][4] They purchased the Dallas Gold and Silver Exchange in September 1987 for an undisclosed amount. Dallas Gold and Silver Exchange continued operating as a subsidiary of American Pacific Mint. In January 1992, after seeing that subsidiary achieve record results and a 19% jump in profits, American Pacific Mint announced their plan to move their headquarters to Dallas and rename the entire company as Dallas Gold and Silver Exchange.[5] Shareholders approved the plan in July that year.[6] In July 2001, they began to use their present name.[7]

They were one of the earliest coin and bullion dealers to begin doing business on the internet; they set up a website to auction jewelry from their stores in 1995, and later launched two further websites for auctioning watches and to allow jewelry manufactures and vendors to sell to each other and directly to the public. They also set up a website to provide real-time price quotes for precious metals.[1] Their revenues from their internet business began to show dramatic growth in 1999; revenue to March 15 of that year was five times the revenue for their 1998 fiscal year.[8] Their acquisition of Superior Galleries, and the success of Superior's first auction under DGSE ownership, drove their share price up 33% to $4.06 in August 2007.[9]

DGSE operates thirty five retail locations: eight Dallas Gold and Silver Exchange stores throughout the Dallas/Fort Worth Metroplex; Bullion Express in Highland Park (Chicago), IL; Charleston Gold & Diamond Exchange in Charleston, SC; and 24 stores, branded as Southern Bullion Coin & Jewelry throughout the Southeast U.S., including Alabama, Tennessee, North Carolina, South Carolina, Florida and Georgia.

In April of 2012 DGSE Announces Halt in Trading of its public stock on AMEX [10]

In June of 2012, DGSE closes its Superior Gold and Silver Exchange store in Woodland Hills. [11]

In July of 2012, DGSE opens two new stores in Dallas-Fort Worth Metroplex: Southlake, TX and Allen, TX.

In November of 2012, DGSE opened a new store in Fort Worth, TX [12]

In November of 2012, DGSE Companies Announces the Resumption of Trading of its public stock on NYSE MKT. [13]

Timeline[edit]

1965 - Incorporation of American Pacific Mint

1978 – Rainbow Rare Coins founded

1980 – Rainbow Rare Coins changes name to Dallas Gold & Silver Exchange

1987 – Publicly traded American Pacific Mint acquires the assets of Dallas Gold & Silver Exchange

1991 – Dallas Gold & Silver Exchange acquires its first Texas pawn license to provide jewelry loans to its customers

1995– Dallas Gold & Silver Exchange launches online auction platform

1998 – Dallas Gold & Silver Exchange acquires National Jewelry Exchange a small pawnshop in Carrolton, Texas

2000 – Dallas Gold & Silver Exchange opens Charleston, South Carolina location under the name Charleston Gold & Diamond Exchange

2000 – Dallas Gold & Silver Exchange acquires Fairchild International, one of the largest wholesale fine watch companies in the United States

2003 – U.S. Bullion Exchange is launched to handle trading and execution of all precious metals transactions system wide for all DGSE Companies. USBE provides an Internet based trading platform for all DGSE customers.

2005 - Parent company’s name changed to DGSE Companies, Inc

2007 – Dallas Gold & Silver Exchange acquires the assets of Euless Gold & Silver and opens Dallas Gold & Silver Exchange Fort Worth/Euless location

2007 - DGSE Companies, Inc. lists on the American Stock Exchange

2007 – The second Dallas area National Pawn store is opened.

2007 – American Gold & Silver Exchange is launched with national advertising roll-out allowing individuals from anywhere to send jewelry and precious metals to DGSE for purchase.

2007 – Superior Estate Buyers is launched and conducts its first remote buying events

2007 – DGSE Companies, Inc. acquire Superior Galleries, one of the United States' oldest and largest numismatic auction houses

2007 - Superior Galleries conducts its first jewelry and fine time piece auction in Beverly Hills, California

2007 – Superior Precious Metals is launched to service precious metals and rare coin retail customers

2008 - Superior Gold & Diamond Exchange is opened in Woodland Hills, California

2009 - DGSE Companies, Inc. launches a charitable fundraising company under the name A Chance To Give

2011 - DGSE Bullion Express concept is introduced, new store opened in Preston Center in Dallas, Texas

2011 - Second DGSE Bullion Express is opened in North Dallas.

2011 - DGSE Companies, Inc. opens fifth Dallas-area location in Arlington

2012 - DGSE Companies, Inc. opens a "Bullion Express" store in Highland Park (Chicago), Illinois[14]

2012 - DGSE Companies, Inc. opens a "Bullion Express" store in Atlanta, Georgia's Buckhead district[15]

2012 - Securities and Exchange Commission (SEC) announces investigation into DGSE accounting irregularities[16]

2012 - DGSE Companies, Inc. opens 6th DFW area location in Southlake, Texas[17]

2012 - DGSE Companies, Inc. opens 7th DFW area location in Allen, Texas[18]

2012 - DGSE Companies, Inc. opens 8th DFW area location in Fort Worth, Texas Using some artwork and jewelry cases from the now defunct Superior Galleries.[19]

2013 - DGSE Companies, Inc. opens 2nd Atlanta area location in Cumming, Georgia; branded as Southern Bullion Coin & Jewelry[20]

References[edit]

  1. ^ a b Schmidt, Rob (2000), "The e-commerce ticket for coin and bullion investors: These shares turn collectibles into investibles", Coin Connoisseur Magazine, retrieved 2007-10-11 
  2. ^ "Dallas Gold & Silver Exchange, Inc.", Dallas Business Journal, 2007, retrieved 2007-10-11 [dead link]
  3. ^ "LA Briefly", Daily News of Los Angeles, 1987-09-03, retrieved 2007-10-11 
  4. ^ Form 10KSB SEC Filing, DGSE Companies, Inc., 1998-03-13, retrieved 2007-09-18 
  5. ^ "American Pacific Mint Plans Move to Dallas", Los Angeles Times, 1992-01-07, retrieved 2009-06-04 
  6. ^ "Name change OK'd", American Metal Market, 1992-07-13, archived from the original on 2006-02-28, retrieved 2007-10-11 
  7. ^ "Dallas Gold & Silver Exchange changes name to DGSE", Dallas Business Journal, 2001-07-05, retrieved 2007-10-11 
  8. ^ "Dallas Gold and Silver Exchange reports Internet growth", Dallas Business Journal, 1999-03-15, retrieved 2007-10-11 
  9. ^ "DGSE up 33 Percent", Speeple News, 2007-08-08, retrieved 2007-10-11 
  10. ^ "DGSE Halts Trading", yahoo!finance, 2012-04-  Check date values in: |date= (help)
  11. ^ www.DGSE.com, 2012 
  12. ^ DGSE Companies, Inc. : Dallas Gold & Silver Exchange Opens Fort Worth Location | 4-Traders
  13. ^ DGSE Companies, Inc. : DGSE Announces Resumption of Trading on NYSE MKT | 4-Traders
  14. ^ Chicagoland’s First Gold Investment Boutique “Bullion Express” Opens in Highland Park
  15. ^ DGSE Companies, Inc. Opens “Bullion Express” Retail Boutique In Atlanta’s Buckhead District
  16. ^ Yahoo! Finance
  17. ^ Dallas Gold & Silver Exchange Opens Location in Southlake, TX
  18. ^ Dallas Gold & Silver Exchange Opens Seventh DFW Location in Allen, Texas
  19. ^ Diamonds.net - DGSE Opens an Exchange in Fort Worth
  20. ^ - DGSE Companies, Inc. : Southern Bullion Coin & Jewelry Opens Second Atlanta-Area Store

External links[edit]