Our Curiosity of the Month for February is a 1oz Gold Ohio Precious Metals (OPM) Minted Bar (Pre-Owned).
We don’t get many OPM products, and there is a good reason for that. Read on to find out why.
OPM History
Ohio Precious Metals was a gold, silver, platinum and palladium refiner and private mint. It produced a range of different bullion products. It also provided services to the jewellery industry including precious metal recycling and stone removal.
The mint was founded in 1974. In 2012, it merged with NTR Metals from Dallas. They later changed their name to Elemetal. Within a few years, however, Elemetal became involved with a major scandal.
As a result of the scandal, Elemetal and its related companies, including Ohio Precious Metals, lost the good delivery status of its gold bullion. The gold refining operation at OPM, one of four in the United States, was forced to shut down with most of its 280 employees losing their jobs.
OPM Collectors
While OPM is no longer producing new products, there is a healthy second hand market for their previously minted rounds and bars. Collectors still prize bullion from Ohio Precious Metals. Products are stamped with the letters ‘OPM’. The company prided itself on conflict-free materials sourcing and had a commitment to sustainable environmental practices.
While its association with the Elemetal gold smuggling scandal may give some investor’s pause for thought, most collectors and investors continue to give OPM bullion high marks for quality and purity.
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FREE DELIVERY
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FREE DELIVERY
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FREE DELIVERY
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FREE DELIVERY
OPM Claim To Fame
OPM rose to become one of just a handful of gold refiners in the U.S. and refined billions of dollars of scrap gold into bullion bound for investors around the world. It was located in an unlikely small rural town in Appalachia. However, due to the soaring prices of gold at the time, it was able to run a profitable operation. Ohio Precious Metals actually originated as Jackson Precious Metals, which was established to recycle tiny amounts of gold from scrap circuit boards and telephones.
Get your hands on the OPM Gold Minted Bar
Here To Help
Bleyer offers expert consultancy and welcomes appointments with customers looking for a personal service either face to face, by phone or online. Give our expert team a call on 01769 618618 or email [email protected].
