Texas Precious Metals Explained

Texas Precious Metals
Type:	Private
Industry:	Precious metals
Location:	Shiner, Texas, United States
Area Served:	North America
Key People:	Tarek Saab, President & Co-founderJason Kaspar, Co-founder
Products:	Gold coins and bars Silver coins and bars
Revenue:	2013: $180.1M^[1] 2014: $153.2M^[2]
Homepage:	www.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 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.^{[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 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

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

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.^[12]

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] and the American Numismatic Association (ANA).^[16]

Notes and References

1. Web site: Texas Precious Metals Revenue Tops $180M in 2013. Texas Precious Metals.
2. Web site: Texas Precious Metals Reports 2014 Gross Revenue of $153.2M. Texas Precious Metals.
3. Web site: USA Today "Service makes precious metals start-up shine". USA Today.
4. Web site: UPS "The Gold Standard of Shipping". UPS Logistics.
5. Web site: Success story: Precious metals company grows revenue to $200 million. UPS Logistics.
6. Web site: Perth Mint Coin Distributors - United States of America. The Perth Mint - Australia.
7. Web site: Family Owned Kaspar Companies Keeps Spinning Steel Into Gold in Shiner. Shale Magazine.
8. Web site: Texas Precious Metals - Kaspar Texas Traditions Ranked #200 in Inc 5000.
9. Web site: Texas Tribune. 30 October 2015 .
10. Andy Duehren, "Texas taps private vendor to manage first state-run gold depository in U.S.", The Texas Tribune, June 14, 2017
11. Web site: Texas Silver Round. Texas Precious Metals.
12. Web site: Press Release - Texas Precious Metals and The Perth Mint, Australia Partner on Energy-themed, Limited Edition 1/2 oz Silver Coin . Marketwatch.
13. Web site: US Patent Office - Business the Texas Way. US Patent Office.
14. Web site: US Patent and Trademark Database - Texas Logomark. US Patent Office.
15. Web site: ITCA - Tarek Saab (Texas Precious Metals). Industry Council for Tangible Assets.
16. Web site: AMA Members - Texas Precious Metals. American Numismatic Association.