A-Mark acquired JM Bullion for a record $174 Million Dollars; A publicly traded company on the NASDAQ stock exchange under the stock symbol AMRK. California based A-Mark has reached an agreement to purchase the remaining 79.5% of JM Bullion issued and outstanding shares that it does not already own giving the fully integrated precious metals platform complete ownership of the Dallas based e-commerce retailer. A-Mark had previously acquired a minority stake of JMB in 2014. Total consideration for A-Mark’s acquisition of JM Bullion is just over $138 million in cash plus A-Mark common stock valued at $34.6 million.
The repercussions of A-Mark Acquiring JM Bullion are huge for the bullion industry. The JM Bullion acquisition gives A-Mark full control of all of JM Bullion’s separately branded and company owned websites. Take a look. This may pucker the butt hole a bit. You have been warned.
With JM Bullion’s acquisition A-Mark now owns these 8 Bullion and Precious Metals institutions. YIKES!
JM Bullion also has a large eBay presence through their JM Bullion eBay Store. Now that A-Mark Acquired JM Bullion all of these companies are controlled by one precious metals company. It is normal if this sends a chill down one’s spine. That is why I issued the pucker warning.
You may be wondering what A-Mark’s acquisition of JM Bullion means for us as a small time bullion investor. That’s actually a great question. Well here at InNewsWeekly we think in the short term it could be good for silver stackers, but in the long term the fact that A-Mark Acquired JM Bullion is NO BUENO in a big way!
Let us explain what we think. In the short term this could drive down prices at APMEX and other major bullion dealers, in the long term if A-Mark acquires APMEX this could spell disaster for coin enthusiasts and bullion stackers creating a true monopoly in the precious metals industry. If that Bullion Doomsday Scenario does take place the only hope would be the Securities and Exchange Commission or the Federal Trade Commission stepping in to break up the A-Mark Precious Metals Monopoly.
This is actually another great question! Being proactive and seeking out smaller bullion dealers to buy your gold and silver coins and bars from that have a trusted names in the bullion industry is a great start. Be sure to look into the company and ensure they do not have ties to huge monopolies. Good ole’ fashion capitalistic competition will help keep silver and gold bullion prices low for the little guy and hold the monopolies at bay.
We suggest buying from companies like Hero Bullion. Jake Haugen is the sole owner at Hero Bullion. Jake has a great reputation in the bullion industry and was one of the co-founders of Provident Metals. Provident at one time was known as the “People’s Bullion Dealer” before Joe Merrick ran it into the ground and sold it off to Dillon Gage who sold it to JM Bullion who sold it to A-Mark.
On October 16th 2019 Florida Independent said A-Mark gained the most from the Provident Metals acquisition because they gained a huge new bullion customer in Provident, but didn’t have to pay a dime in the acquisition of Provident Metals when JM Bullion purchased Provident Metals outright from Dillon Gage. Anyhow, Hero Bullion seems to be everything Provident Metals promised to be before it ran into tough times.
With its previous minority share A-Mark already had a familiarity and a close working relationship with JMB, its company leadership and integrated workstreams making A-Marks Acquisition of JM Bullion make that much more sense for them as a leader in the coins precious metals and bullion industry. A-Mark CEO Greg Roberts expects a “truly unified organization” that will be able to “more effectively capitalize” on the growing market experienced by e-commerce platforms.
Like many other industries the precious metals industry has seen substantial growth in e-commerce channeling of retail business garnering a rapidly increasing share of the global precious metals market. Now that A-Mark Acquired JM Bullion it has 100% full ownership of all of its wholly owned brands.
“With this acquisition, JM Bullion will immediately become the anchor in our direct-to-retail strategy, significantly bolstering A-Mark’s capabilities and dramatically broadening our consumer-facing footprint and brand portfolio,” Roberts asserted.
A-Mark was founded in 1965 and is a leader in full-service precious metals trading as well as a leading wholesaler of gold, silver, platinum and palladium bullion. The company boasts a global customer base which includes sovereign and private mints, refiners, dealers and online retailers, financial institutions, as well as collectors and retail interests. Its gold and silver Coin and Bar unit alone features over 200 different products available for distribution to dealers and other interested purchasers.
A-Marks status as a U.S. Mint AP or Authorized Purchaser of gold, silver and platinum coins gives the company a strong position as a direct mint to customer supplier. It also has distributorships with many other sovereign mints worldwide. With its majority share in the joint venture that now owns the famed SilverTowne Mint of Winchester, Indiana the company is also positioned to mint proprietary products and gives it greater access to fabricated silver bullion products. Though A-Mark acquired JM Bullion this does not affect A-Marks US Mint Authorized Purchaser status.
A-Mark Acquired JM Bullion for a total of $174 Million dollars. Nearly $104 million dollars in cash with an additional $35 million dollars in A-Mark common stock.
This content was originally published here.
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