Texas Precious Metals

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Texas Precious Metals
TypePrivate
IndustryPrecious metals
Founded2011 (2011)
HeadquartersShiner, Texas, United States
Area served
North America
Key people
Tarek Saab, President & Co-founder Jason Kaspar, Co-founder
ProductsGold coins and bars
Silver coins and bars
Revenue2013: $180.1M[1]
2014: $153.2M[2]
Websitewww.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[edit]

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[edit]

The company's signature product is the Texas Silver Round.[11]

The Perth Mint Partnership[edit]

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[edit]

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.”[13][14]

Associations[edit]

Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA)[15] and the American Numismatic Association (ANA).[16]

References[edit]

  1. ^ a b "Texas Precious Metals Revenue Tops $180M in 2013". Texas Precious Metals.
  2. ^ a b "Texas Precious Metals Reports 2014 Gross Revenue of $153.2M". Texas Precious Metals.
  3. ^ "USA Today "Service makes precious metals start-up shine"". USA Today.
  4. ^ "UPS "The Gold Standard of Shipping"". UPS Logistics.
  5. ^ "Success story: Precious metals company grows revenue to $200 million". UPS Logistics.
  6. ^ "Perth Mint Coin Distributors - United States of America". The Perth Mint - Australia.
  7. ^ "Family Owned Kaspar Companies Keeps Spinning Steel Into Gold in Shiner". Shale Magazine.
  8. ^ "Texas Precious Metals - Kaspar Texas Traditions Ranked #200 in Inc 5000".
  9. ^ "Texas Tribune".
  10. ^ Andy Duehren, "Texas taps private vendor to manage first state-run gold depository in U.S.", The Texas Tribune, June 14, 2017
  11. ^ "Texas Silver Round". Texas Precious Metals.
  12. ^ "Press Release - Texas Precious Metals and The Perth Mint, Australia Partner on Energy-themed, Limited Edition 1/2 oz Silver Coin". Marketwatch.
  13. ^ "US Patent Office - Business the Texas Way". US Patent Office.
  14. ^ "US Patent and Trademark Database - Texas Logomark". US Patent Office.[not specific enough to verify]
  15. ^ "ITCA - Tarek Saab (Texas Precious Metals)". Industry Council for Tangible Assets.
  16. ^ "AMA Members - Texas Precious Metals". American Numismatic Association.

External links[edit]