{"id":3026,"date":"2024-06-28T16:44:41","date_gmt":"2024-06-28T16:44:41","guid":{"rendered":"https:\/\/findbullionprices.com\/blog\/?p=3026"},"modified":"2024-11-24T18:14:29","modified_gmt":"2024-11-24T18:14:29","slug":"a-mark-becomes-majority-owner-of-silver-gold-bull","status":"publish","type":"post","link":"https:\/\/findbullionprices.com\/blog\/a-mark-becomes-majority-owner-of-silver-gold-bull\/","title":{"rendered":"A-Mark becomes majority owner of Silver Gold Bull"},"content":{"rendered":"\n

A-Mark Precious Metals (NASDAQ: AMRK) (A-Mark) recently announced that it has increased its investment in Silver Gold Bull, making it the majority owner of the Calgary-based precious metals retailer.<\/p>\n\n\n\n

Bob Belandis, President and Co-Founder of Silver Gold Bull, commented: “This marks another milestone in our enduring partnership with A-Mark. Their previous investments have fueled significant growth for us. This additional backing positions us for further expansion in Canada and new markets.”<\/p>\n\n\n\n

According to the announcement<\/a>, the latest investment of $9.6 million<\/strong> brings A-Mark’s ownership stake to 55.4%.  A-Mark acquired its initial stake in SGB in 2014 and increased its investment again in 2022 to 47.4%.<\/p>\n\n\n\n

Since its founding in 2009, Silver Gold Bull has grown to become one of Canada’s leading precious metals retailers<\/a>. Through its partnership with A-Mark, the dealer has developed a large customer base in the United States. The dealer is best known for its famous 10 oz Silver Bar at Spot Price<\/a> deal.<\/p>\n\n\n

\n
\"silver<\/a>
Custom minted 10 oz Silver Bar from Silver Gold Bull<\/figcaption><\/figure><\/div>\n\n\n

The investment-grade silver bar features the dealer’s “charging bull” logo and is minted by Sunshine Mint, a leading refinery owned by A-Mark. Sunshine Mint<\/a> is also a supplier of 1 oz silver coin planchets used in the manufacturing of American Silver Eagle coins.<\/p>\n\n\n\n

A-Mark’s previous option to increase its ownership interest in SGB has been reduced from 75% to 70%. The option, previously set to expire in September 2024, has been extended to September 2025.<\/p>\n\n\n\n

Per the announcement, Silver Gold Bull had net sales of $467.9 million, gross profit of $20.8 million (4.4% of net sales), and pre-tax income of $4.2 million (0.9% of net sales) for the fiscal year ending April 30, 2024, selling more than 7.85 million ounces of silver and 151,000 ounces of gold.<\/p>\n\n\n\n

“Increasing our stake in SGB aligns with our strategy to expand internationally,” said A-Mark CEO Greg Roberts. “Since our 2014 investment, SGB has consistently grown in Canada and abroad. We aim to strengthen our partnership with SGB and may further increase our ownership in the company in the future.”<\/p>\n\n\n\n

Founded in 1965, A-Mark Precious Metals, Inc<\/a>. is a leading fully integrated precious metals company that brings an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins, and related products to wholesale and retail customers through three complementary segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending.<\/p>\n\n\n\n

On the Direct-to-Consumer side, A-Mark fully owns or has large ownership stakes in various well-known and popular precious metals retailers, including JM Bullion<\/a>, LPM Group Ltd<\/a>, Silver.com, BGASC<\/a>, BullionMax, Provident Metals, Pinehurst Coins, Modern Coin Mart, Stack’s Bowers Galleries and others. Recently, JM Bullion announced the acquisition of the website domain gold.com<\/a>, which is redirecting to its website.<\/p>\n","protected":false},"excerpt":{"rendered":"

According to a recent announcement, the latest investment of $9.6 million brings A-Mark’s ownership stake to 55.4%. \u00a0A-Mark acquired its initial stake in SGB in 2014 and increased its investment again in 2022 to 47.4%.<\/p>\n","protected":false},"author":1,"featured_media":3027,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1169,156,739,545,741],"tags":[579,521,1109],"class_list":["post-3026","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-mark","category-dealers","category-jm-bullion-dealers","category-news","category-silver-gold-bull","tag-a-mark","tag-jm-bullion","tag-silver-gold-bull"],"yoast_head":"\nA-Mark becomes majority owner of Silver Gold Bull - FindBullionPrices.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/findbullionprices.com\/blog\/a-mark-becomes-majority-owner-of-silver-gold-bull\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A-Mark becomes majority owner of Silver Gold Bull - 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