In addition, A-Mark sells precious metal products to industrial users, including metal refiners, manufacturers and electronic fabricators. The company sells more than 200 different products to e-commerce retailers, coin and bullion dealers, financial institutions, brokerages and collectors. A-Mark also has longstanding distributorships with other sovereign mints, including Australia, Austria, Canada, China, Mexico, South Africa and the United Kingdom. Mint-authorized purchaser of gold, silver, and platinum coins since 1986, A-Mark purchases bullion products directly from the U.S. The company’s global customer base spans sovereign and private mints, manufacturers and fabricators, refiners, dealers, financial institutions, industrial users, investors, collectors, and e-commerce and other retail customers.Ī-Mark’s Wholesale Sales & Ancillary Services segment distributes and purchases precious metal products from sovereign and private mints. The company conducts its operations through three complementary segments: Wholesale Sales & Ancillary Services, Secured Lending, and Direct-to-Consumer. (NASDAQ: AMRK) is a leading fully integrated precious metals platform that offers an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins and related products to wholesale and retail customers via a portfolio of channels. This new platform will also allow us to target previously untapped customer segments who prefer the convenience and simplicity of digital precious metals ownership.”Ībout A-Mark Precious MetalsFounded in 1965, A-Mark Precious Metals, Inc. Michael Wittmeyer, CEO of JM Bullion, a wholly-owned subsidiary of A-Mark, commented: “The JM Bullion team has utilized its marketing and customer acquisition experience to build a deep and loyal customer base that will now have seamless access to the new CyberMetals platform. We believe the CyberMetals marketplace will enhance and accelerate our new precious metals customer acquisition strategy.” “The offering is highly complementary to our existing services, leveraging our physical footprint in Las Vegas along with our core competencies in product sourcing and logistics. “We are excited to unveil CyberMetals as we believe it is an innovative product offering that will attract new precious metals customers from previously untapped sources while reducing friction for precious metals ownership,” said A-Mark CEO, Greg Roberts. A-Mark will partner with its current security partner, Loomis, to manage the storage of the metals.Ī-Mark and JMB plan to start beta testing the CyberMetals marketplace in December 2021 with commercial release scheduled for February 2022. CyberMetals, a special purpose entity, will store the precious metals at A-Mark’s Las Vegas, Nevada depository, which is fully custodied, secured and insured. To fund purchases, customers will have a broad array of payment options, including credit/debit card, automated clearing house (ACH), bank wire, cryptocurrencies (via BitPay), and PayPal. These products may be designated for storage by the Company or shipped directly to the customer, a feature currently unavailable in the domestic Exchange Traded Fund (ETF) marketplace. Customers will be able to access the CyberMetals portal through an intuitive platform on desktop or mobile device (iOS and Android), giving customers 24/7/365 access to buy, sell and monitor their portfolio.ĬyberMetals’ customers will have the option to convert their digital holdings to fabricated precious metals products via an integrated redemption flow with JMB. This unique structure provides the lowest possible pricing spreads to customers, which is differentiated from existing programs in the industry that generally carry large pricing spreads for smaller valued transactions. The platform will support both accumulation-type programs where customers acquire precious metals at pre-defined intervals, as well as more opportunistic purchase and sale transactions. Leveraging the core strengths of A-Mark and JMB, CyberMetals is an innovative, online platform that digitizes large gold, silver and platinum bars and allows consumers to buy and sell fractional shares of these bars in a range of denominations. Following the event, the Company will make available a copy of the slide presentation in the Investor Relations section of its website. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, and its wholly owned subsidiary, JM Bullion (JMB), will unveil its new CyberMetals platform during a virtual presentation hosted by D.A. 19, 2021 (GLOBE NEWSWIRE) - A-Mark Precious Metals, Inc. Davidson Investor Event on December 7, 2021ĮL SEGUNDO, Calif., Nov. CyberMetals Marketplace to be Showcased at D.A.
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