Texas Precious Metals
 | |
| Company 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 |
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]
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 2014, Texas A&M University recognized Texas Precious Metals as a member of the 2014 Aggie 100 honoring the fastest-growing companies in the world, owned or operated by Texas A&M University former students. Texas Precious Metals was ranked #1 with a compound annual growth rate of 372% from 2011 through 2013.[8]
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%.[9]
In 2016, Texas Precious Metals responded to Texas HB 483 with a proposed solution for the Texas Bullion Depository[10] but lost its bid to Lone Star Tangible Assets.[11]
Products
The company's signature product is the Texas Silver Round.[12]
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.[13]
Corporate identity
Texas Precious Metals owns the trademark for industry usage of the image of the state of Texas along with the slogan “Business the Texas Way.”[14][15]
Associations
Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA)[16] and the American Numismatic Association (ANA).[17]
References
- ^ a b "Texas Precious Metals Revenue Tops $180M in 2013". Texas Precious Metals.
- ^ a b "Texas Precious Metals Reports 2014 Gross Revenue of $153.2M". Texas Precious Metals.
- ^ "USA Today "Service makes precious metals start-up shine"". USA Today.
- ^ "UPS "The Gold Standard of Shipping"". UPS Logistics.
- ^ "Success story: Precious metals company grows revenue to $200 million". UPS Logistics.
- ^ "Perth Mint Coin Distributors - United States of America". The Perth Mint - Australia.
- ^ "Family Owned Kaspar Companies Keeps Spinning Steel Into Gold in Shiner". Shale Magazine.
- ^ "2014 Aggie 100 Companies" (PDF). Aggie 100.
- ^ "Texas Precious Metals - Kaspar Texas Traditions Ranked #200 in Inc 5000".
- ^ "Texas Tribune".
- ^ Andy Duehren, "Texas taps private vendor to manage first state-run gold depository in U.S.", The Texas Tribune, June 14, 2017
- ^ "Texas Silver Round". Texas Precious Metals.
- ^ "Press Release - Texas Precious Metals and The Perth Mint, Australia Partner on Energy-themed, Limited Edition 1/2 oz Silver Coin". Marketwatch.
- ^ "US Patent Office - Business the Texas Way". US Patent Office.
- ^ "US Patent and Trademark Database - Texas Logomark". US Patent Office.[not specific enough to verify]
- ^ "ITCA - Tarek Saab (Texas Precious Metals)". Industry Council for Tangible Assets.
- ^ "AMA Members - Texas Precious Metals". American Numismatic Association.