Texas Precious Metals
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| Private | |
| Industry | Precious metals |
| Founded | 1898 |
| Headquarters | Shiner, Texas, United States |
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Area served
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North America |
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Key people
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CEO Jason Kaspar, Founder COO Tarek Saab, 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 dealer 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.
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 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.
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 which included construction of a facility with 12-inch-thick reinforced concrete walls and a roof designed to withstand the weight of a Boeing 767.
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 though the silver content is comparable to government-issued coins.
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Wikipedia