Texas Precious Metals
| File:Texas Precious Metals Logo.png | |
| Company type | Private |
|---|---|
| Industry | Precious metals |
| Founded | 1898 |
| Headquarters | Shiner, Texas, United States |
Area served | North America |
Key people | CEO Jason Kaspar, Founder COO Tarek Saab, 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 dealer 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 May 2011, KTT purchased Texas Precious Metals outright from Saab & Company Inc., naming Tarek Saab as Chief Operating Officer of the new unit. Saab subsequently moved Texas Precious Metals into the consumer retail market.
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]
Products
The company's signature product is the Texas Silver Round,[10] a premium one troy ounce .9999 percent silver round. The silver round is not legal tender though the silver content is comparable to government-issued coins.
The Texas Silver Round features the geographic outline of the State of Texas and the Texas Star on the obverse of the coin. The reverse design changes annually. The 2013 design featured a Cowboy riding horseback in full gallop with lasso extended. The 2014 design featured three Texas longhorn cattle. The 2015 design featured a Texas white-tailed deer.
The 1 oz. Texas Silver Round is 39.6mm in diameter and 3.3mm thick, slightly smaller in diameter and thicker than the American Silver Eagle. The rounds are produced at a facility which is ISO-9000 certified, rendering them IRA-eligible.[citation needed]
MINTAGES:
2013 Texas Silver Round (Cowboy Reverse): 540,000
2014 Texas Silver Round (Longhorn Reverse): 600,000
2015 Texas Silver Round (White tail Reverse): Undisclosed[11]
Through Kaspar Custom Fabrication, Texas Precious Metals produces “monster boxes” and “mini monster boxes” for silver rounds made of durable cold-rolled steel. A monster box is an industry standard shipping unit for silver containing 500 coins or rounds and is usually made of plastic composite. The mini Monster Box is unique to Texas Precious Metals, and contains 250 silver rounds, or half a standard monster box.
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] The half-ounce, 99.9% pure silver coin features offshore and onshore oil rigs showcasing the cities' historic energy sectors. The coin also pays homage to the flags of Texas and Australia. The coin measures 32mm in diameter with a thickness of 2mm. The coins ship in tubes of 25 and sealed "monster boxes" of 500 coins.
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.”[13][14]
Associations
Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA),[15] the American Numismatic Association (ANA),[16] and the Certified Coin Exchange (CCE). The company is rated A+ with the Better Business Bureau.[17] and As of 10 August 2015[update] has a 9.88/10 rating on Reseller Ratings.[18]
Founders
Tarek Saab, COO, was a finalist on Season 5 of NBC's television show, The Apprentice (U.S. season 5), and commonly appears as a spokesperson in the precious metals industry.[citation needed]
Jason Kaspar, CEO, is also the Chief Investment Officer of the Ark Fund Capital Management hedge fund. Kaspar graduated Summa Cum Laude with a degree in Finance and Accounting from Texas A&M University. He is a spokesperson in investment industries, a major contributor to Business Insider[19] and has been quoted by Zero Hedge,[20] David Morgan (businessman)[21] and industry specific websites as a source for news, advice and industry dynamics.[22][23]
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 Silver Round". Texas Precious Metals.
- ^ "Texas Precious Metals Announces Release of 2015 Texas "White-Tailed Deer" Silver Round". prweb.com. Texas Precious Metals.[third-party source needed]
- ^ "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.
- ^ "BBB - Texas Precious Metals". Better Business Bureau (BBB).
- ^ "Texas Precious Metals Reviews". Reseller Ratings.
- ^ "Business Insider Contributions of Jason Kaspar". Business Insider.
- ^ "old And Silver Physical Market And Inventory Update From The Source: "In A Word, Ugly"". Zero Hedge.
- ^ "David Morgan uncut lecture at Precious Metals Conference". Silver Investor.
- ^ ""Panic" For Physical Gold Spreads To UK Where Royal Mint Sales Of Gold Coins Triple". Gold Investment.
- ^ "Success story: Precious metals company grows revenue to $200 million". UPS.