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| File:Texas Precious Metals Logo.png | |
| Company type | Private |
|---|---|
| Industry | Precious Metals |
| Founded | 1898 (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 |
| Website | www.texmetals.com |
Texas Precious Metals is one of the largest precious metal dealers in the United States. The company reported annual revenue of $180.1 million in 2013. The company is recognized as a market maker for United States Mint products and is an official distributor for the Perth Mint of Australia. Texas Precious Metals is based in Shiner, Texas, and is a subsidiary of the Kaspar Companies, one of the oldest continuously operating manufacturing companies in America.
History
In 2010, Texas Precious Metals originated as a joint venture project between Saab & Company Inc. and Kaspar Texas Traditions L.P. (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 May 2011, KTT purchased Texas Precious Metals outright from Saab & Company, Inc., naming Tarek Saab Chief Operating Officer of the new unit. Saab subsequently moved Texas Precious Metals into the consumer retail market.
Products
The company's signature product is the Texas Silver Round, a premium one troy ounce .9999 percent silver round. The silver round is not legal tender. 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 features a Cowboy riding horseback in full gallop with lasso extended. The 2014 design features three Texas longhorn cattle. 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.
Through its sister company, 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.
Corporate Identity
Texas Precious Metals owns the trademark for industry usage of the image of the state of Texas along with the slogan “Doing Business the Texas Way.”
Associations
Texas Precious Metals is a member of the Industry Council for Tangible Assets (ICTA), the American Numismatic Association (ANA), and the Certified Coin Exchange (CCE). The company is rated A+ with the Better Business Bureau. and has a 9.94/10 rating on Reseller Ratings.
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.
Jason Kaspar, CEO, is the oldest member of the 5th generation of the Kaspar family business. He is the Chief Investment Officer of Ark Fund Capital Management, a 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 and has been quoted by the Wall Street Journal, Zero Hedge, David Morgan (businessman) and industry specific websites as a source for news, advice and industry dynamics.
References
- "Texas Precious Metals". Texas Co-op Power magazine. Texas. August 2013.
- US Mint Certified Dealers
- Perth Mint Certified Dealers
- Texas State Historical Association: Kaspar Wire Works
- Texas Silver Rounds
- Members of Industry Council for Tangible Assets
- Members of the American Numismatic Association
- Better Business Bureau Ratings and Complaints
- Reseller Ratings. Retrieved November 20, 2013.
- Tarek Saab on IMDb. IMDB. Retrieved November 20, 2013.
- Gold Bubble Interview of Tarek Saab
- Business Insider Contributions of Jason Kaspar
- "What's Next for Gold" Wall Street Journal
- Zero Hedge "Gold and Silver Physical Market and Inventory Update"
- David Morgan Uncut Lecture at Precious Metals Conference
- http://1goldinvestment.com/tag/texas-precious-metals/
- http://www.dailypaul.com/282960/texas-precious-metals-ceo-the-physical-silver-market-is-in-a-word-ugly
- http://www.ukcolumn.org/forum/economy/unprecedented-shortages-ammo-physical-gold-and-physical-silver