| Revision as of 19:39, 12 October 2017 editShinerite (talk | contribs)103 edits Updated page to reflect recent company news, decision on Texas Bullion Depository, partnership with Amark (NASDAQ:AMRK), and Texas Mint. Added citations, removed weak contentTag: Visual edit: Switched← Previous edit | Latest revision as of 08:00, 10 February 2024 edit undoCNMall41 (talk | contribs)Extended confirmed users, New page reviewers69,973 edits added Category:American companies established in 2011 using HotCat | ||
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| {{Infobox company | {{Infobox company | ||
| | name = Texas Precious Metals | | name = Texas Precious Metals | ||
| | logo = |
| logo = Texas Precious Metals Logo.jpg | ||
| | logo_size = 250px | |||
| | type = ] | | type = ] | ||
| | industry = ]s | | industry = ]s | ||
| Line 10: | Line 11: | ||
| Jason Kaspar, Co-founder | Jason Kaspar, Co-founder | ||
| | products = ] and bars<br>] and bars | | products = ] and bars<br>] and bars | ||
| | revenue = 2013: $180.1M |
| revenue = 2013: $180.1M<ref name=2013rev>{{cite web|title=Texas Precious Metals Revenue Tops $180M in 2013|url=https://www.texmetals.com/news/texas-precious-metals-sales-top-180-1m-in-2013-infographic/|publisher=Texas Precious Metals}}</ref><br />2014: $153.2M<ref name=2014rev>{{cite web|title=Texas Precious Metals Reports 2014 Gross Revenue of $153.2M|url=https://www.texmetals.com/news/texas-precious-metals-reports-2014-gross-revenue-of-153-2m/|publisher=Texas Precious Metals}}</ref> | ||
| | homepage = | | homepage = | ||
| }} | }} | ||
| '''Texas Precious Metals''', based in ], is one of the largest ] dealers in the United States.<ref>{{cite web|title=USA Today "Service makes precious metals start-up shine"|url=https://www.usatoday.com/story/money/business/2014/07/07/baverman-texas-precious-metals/12144145/|publisher=USA Today}}</ref><ref>{{cite web|title=UPS "The Gold Standard of Shipping"|url=https://www.youtube.com/watch?v=c97Tkp9OOlQ|publisher=UPS Logistics}}</ref> The company reported annual revenues of $180.1 million in 2013<ref name=2013rev /> and $153.2 million in 2014.<ref name=2014rev /> The company is recognized as a ] for ] products and is an official distributor for the ] of Australia.<ref>{{cite web|title=Success story: Precious metals company grows revenue to $200 million|url=http://compass.ups.com/precious-metals-company-grows-revenue-with-ups/|publisher=UPS Logistics}}</ref><ref>{{cite web|title=Perth Mint Coin Distributors - United States of America|url=http://www.perthmint.com.au/perth-mint-coin-distributors-united-states.aspx|publisher=The Perth Mint - Australia}}</ref> |
'''Texas Precious Metals''', based in ], is one of the largest ] dealers in the United States.<ref>{{cite web|title=USA Today "Service makes precious metals start-up shine"|url=https://www.usatoday.com/story/money/business/2014/07/07/baverman-texas-precious-metals/12144145/|publisher=USA Today}}</ref><ref>{{cite web|title=UPS "The Gold Standard of Shipping"|url=https://www.youtube.com/watch?v=c97Tkp9OOlQ|publisher=UPS Logistics}}</ref> The company reported annual revenues of $180.1 million in 2013<ref name=2013rev /> and $153.2 million in 2014.<ref name=2014rev /> The company is recognized as a ] for ] products and is an official distributor for the ] of Australia.<ref>{{cite web|title=Success story: Precious metals company grows revenue to $200 million|url=http://compass.ups.com/precious-metals-company-grows-revenue-with-ups/|publisher=UPS Logistics}}</ref><ref>{{cite web|title=Perth Mint Coin Distributors - United States of America|url=http://www.perthmint.com.au/perth-mint-coin-distributors-united-states.aspx|publisher=The Perth Mint - Australia}}</ref> | ||
| ==History== | ==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 ] model serving the ] market, selling ] and ] ] exclusively to coin shops and precious metals retailers.<ref>{{cite web|title=Family Owned Kaspar Companies Keeps Spinning Steel Into Gold in Shiner|url=http://shalemag.com/business-the-texas-way/|publisher=Shale Magazine}}</ref> | In 2010, Texas Precious Metals originated as a joint venture project between Saab & Company Inc. and Kaspar Texas Traditions (KTT). The company maintained a ] model serving the ] market, selling ] and ] ] exclusively to coin shops and precious metals retailers.<ref>{{cite web|title=Family Owned Kaspar Companies Keeps Spinning Steel Into Gold in Shiner|url=http://shalemag.com/business-the-texas-way/|publisher=Shale Magazine}}</ref> | ||
| ⚫ | In 2015, ] 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%.<ref>{{Cite web|url=http://www.inc.com/profile/kaspar-texas-traditions|title=Texas Precious Metals - Kaspar Texas Traditions Ranked #200 in Inc 5000}}</ref> | ||
| In May 2011, KTT purchased Texas Precious Metals outright from Saab & Company Inc., naming Tarek Saab as President of the new unit. Saab subsequently moved Texas Precious Metals into the consumer retail market. | |||
| ⚫ | In 2016, Texas Precious Metals responded to Texas HB 483 with a proposed solution for the ]<ref>{{cite web|title=Texas Tribune|date=30 October 2015 |url=https://www.texastribune.org/2015/10/30/gold-firms-hope-help-texas-build-gold-depository/}}</ref> but lost its bid to Lone Star Tangible Assets.<ref>Andy Duehren, , ''The Texas Tribune'', June 14, 2017</ref> | ||
| In 2014, ] recognized Texas Precious Metals as a member of the 2014 ] 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.<ref>{{cite web|title=2014 Aggie 100 Companies|url=http://aggie100.com/Portals/99/PR%20Documents/2014%20Aggie%20100%20List.pdf|publisher=Aggie 100}}</ref> | |||
| ⚫ | In 2015, ] 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%.<ref>{{ |
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| ⚫ | In 2016, Texas Precious Metals responded to Texas HB 483 with a proposed solution for the |
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| ==Products== | ==Products== | ||
| ] | |||
| ⚫ | The company's signature product is the Texas Silver Round |
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| ⚫ | The company's signature product is the Texas Silver Round.<ref>{{cite web|title=Texas Silver Round|url=https://www.texmetals.com/silver-coins/texas-silver-rounds|publisher=Texas Precious Metals}}</ref> | ||
| The Texas Silver Round features the geographic outline of the ] and the Texas Star on the obverse of the coin. The reverse design changes annually. The reverse design changed annually from 2013-2017. In its five year history, the reverse of the silver round featured a ], a ], a white-tailed ], a ], and a ], to accompany the consistent obverse of the geographic outline of the state of Texas in the background and Texas’ iconic lone star in the foreground. | |||
| The 1 oz. Texas Silver Round is 39.6mm in diameter and 3.3mm thick, slightly smaller in diameter and thicker than the ]. | |||
| MINTAGES:<br> | |||
| 2013 Texas Silver Round (Cowboy Reverse): 540,000 <br> | |||
| 2014 Texas Silver Round (Longhorn Reverse): 600,000<br> | |||
| 2015 Texas Silver Round (White tail Reverse): 400,000<br> | |||
| 2016 Texas Silver Round (Coyote Reverse): Undisclosed<br> | |||
| 2017 Texas Silver Round (Bobcat Reverse): Undisclosed<br> | |||
| Through Kaspar Manufacturing, Texas Precious Metals produces “monster boxes” and “mini monster boxes” for silver rounds made of durable cold-rolled ]. 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 contains 250 silver rounds, or half a standard monster box. | |||
| ==Texas Mint== | |||
| In 2017, Texas Precious Metals spun off the Texas Mint as its own division with the purpose of "expanding the product line and distributing these products to other national dealers". Using the ] as the theme for these products, the Texas Mint introduced one ounce gold rounds, one ounce silver bars, ten ounce silver bars, and one hundred ounce silver bars, in addition to the one ounce Texas Silver Round. | |||
| In September of 2017, the company announced a partnership <ref>, ''Marketwatch'', September 12, 2017</ref> with ] (), a publicly traded precious metals wholesaler, to manufacture and distribute Texas Mint products to dealers throughout the United States. | |||
| ==The Perth Mint Partnership== | ==The Perth Mint Partnership== | ||
| ⚫ | In 2014, Texas Precious Metals and the ] of Australia released the Houston-Perth "Sister Cities" coin, commemorating the strong ties between the cities' energy sectors.<ref>{{cite web|title=Press Release - Texas Precious Metals and The Perth Mint, Australia Partner on Energy-themed, Limited Edition 1/2 oz Silver Coin |url=http://www.marketwatch.com/story/texas-precious-metals-and-the-perth-mint-australia-partner-on-energy-themed-limited-edition-12-oz-silver-coin-2014-09-04|publisher=Marketwatch}}</ref> | ||
| ] | |||
| ⚫ | In 2014, Texas Precious Metals and the ] of Australia released the Houston-Perth "Sister Cities" coin, commemorating the strong ties between the cities' energy sectors.<ref>{{cite web|title=Press Release - Texas Precious Metals and The Perth Mint, Australia Partner on Energy-themed, Limited Edition 1/2 oz Silver Coin |url=http://www.marketwatch.com/story/texas-precious-metals-and-the-perth-mint-australia-partner-on-energy-themed-limited-edition-12-oz-silver-coin-2014-09-04|publisher=Marketwatch}}</ref> |
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| ==Corporate identity== | ==Corporate identity== | ||
| Line 57: | Line 35: | ||
| ==Associations== | ==Associations== | ||
| Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA) |
Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA)<ref>{{cite web|title=ITCA - Tarek Saab (Texas Precious Metals)|url=http://www.ictaonline.org/index.php?option=com_community&view=profile&userid=26867556|publisher=Industry Council for Tangible Assets}}</ref> and the ] (ANA).<ref>{{cite web|title=AMA Members - Texas Precious Metals|url=https://secure.money.org/cvweb/cgi-bin/utilities.dll/CustomList?ORGNAME_field=Texas+Precious+Metals&CITY_field=&STATECD=&ZIP_field=&COUNTRY=&ORGNAMEx=~Texas+Precious+Metals~&OWNERx=~Texas+Precious+Metals~&CITY=&ZIP=&RANGE=1%2F25&SHOWSQL=N&SORT=ORGNAME&SQLNAME=VIEWDEALERDIR&WHP=dealer_header_long.htm&WBP=dealer_list_long.htm|publisher=American Numismatic Association}}</ref> | ||
| ==Founders== | |||
| ], President and co-founder, was a finalist on Season 5 of NBC's television show, ]. | |||
| Jason Kaspar, co-founder, is also the ] of Ark Fund Capital Management and the ] of Kaspar Companies. Kaspar graduated Summa Cum Laude with a degree in ] and ] from ]. | |||
| ==References== | ==References== | ||
| Line 75: | Line 48: | ||
| ] | ] | ||
| ] | ] | ||
| ] | |||
Latest revision as of 08:00, 10 February 2024
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| Company type | Private |
|---|---|
| Industry | Precious metals |
| Founded | 2011 (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 2014: $153.2M |
| Website | www.texmetals.com |
Texas Precious Metals, based in Shiner, Texas, is one of the largest precious metals dealers in the United States. The company reported annual revenues of $180.1 million in 2013 and $153.2 million in 2014. The company is recognized as a market maker for United States Mint products and is an official distributor for the Perth Mint of Australia.
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.
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%.
In 2016, Texas Precious Metals responded to Texas HB 483 with a proposed solution for the Texas Bullion Depository but lost its bid to Lone Star Tangible Assets.
Products
The company's signature product is the Texas Silver Round.
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.
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.”
Associations
Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA) and the American Numismatic Association (ANA).
References
- ^ "Texas Precious Metals Revenue Tops $180M in 2013". Texas Precious Metals.
- ^ "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.
- "Texas Precious Metals - Kaspar Texas Traditions Ranked #200 in Inc 5000".
- "Texas Tribune". 30 October 2015.
- 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.
- "ITCA - Tarek Saab (Texas Precious Metals)". Industry Council for Tangible Assets.
- "AMA Members - Texas Precious Metals". American Numismatic Association.