A-Mark Precious Metals
| Company type | Public |
|---|---|
| Industry | Precious metals trading |
| Predecessor | A Mark Coin Company |
| Founded | 1965 |
| Products | Coins, precious metals |
A-Mark Precious Metals (originally founded as A Mark Coin Company in 1965) operates as a precious metals trading company. It holds the distinction of being the first entity authorized to manufacture and distribute coins crafted from metals salvaged from the shipwreck. A-Mark is listed on the Nasdaq stock exchange and was included in the 2021 Fortune 500 rankings.
History
In 2005, Greg Manning Auctions Inc. purchased a controlling interest in A-Mark for $16 million. The acquiring firm later changed its name first to Escala Group and then to Spectrum Group International Inc. By 2009, Spectrum had obtained complete ownership of A-Mark. In 2014, Spectrum separated A-Mark to facilitate its independent listing on the public market. A-Mark further broadened its operations by acquiring Goldline International in 2017.
As of 2021, institutional investors accounted for 43% of A-Mark's shares, while retail investors held 29%. Private firms owned approximately 7%, and individual insiders controlled around 21%.
Financial results
Following its initial public offering, A-Mark’s revenue increased from US$5.9 billion in 2015 to US$7.6 billion by 2021. Selected financial figures from recent years are as follows:
| Data | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|
| Net revenue (in million) | $6,989 | $7,606 | $4,783 | $5,416 | $7,613 |
| Gross profit (in million) | $31.33 | $29.44 | $31.96 | $66.97 | $210.20 |