Republic Metals Corporation
Republic Metals Corp (RMC)
Republic Metals Corporation was founded in 1980 in Miami, Florida, by Richard Rubin. The company initially focused on precious metals refining, processing scrap materials into gold, silver, platinum, and palladium bullion products.
RMC specialized in refining precious metals, including gold and silver, sourced from various industries, jewelry manufacturers, and individual collectors. The company used advanced refining techniques to produce high-purity bullion products.
In addition to precious metals refining, Republic Metals Corporation expanded its operations to include minting. It produced a wide range of bullion products, including gold and silver bars in various sizes and designs.
RMC's products were widely recognized in the precious metals industry, and the company held Good Delivery status for its gold and silver bars with both the London Bullion Market Association (LBMA) and the Commodity Exchange, Inc. (COMEX).
In November 2018, Republic Metals Corporation filed for bankruptcy amid allegations of financial misconduct and fraud. This led to a court-supervised liquidation of its assets. The mint ceased its operations in 2019, and its assets were auctioned off to pay creditors.
The closure of Republic Metals Corporation had significant repercussions on the precious metals market, causing disruptions in the supply chain and affecting the confidence of investors and collectors.
