Bigger in Texas: Precious Metals Sold in the Lone Star State

The gold industry is booming, and Texas is known for getting its hands into big industries. From oil to wind power, they are self-reliant and with citizens able to invest in gold readily available, they can diversify their portfolios and keep an eye on the future.

One of the top contenders in selling gold in Texas is Texas Precious Metals. Not only do they serve this industrious state, but they also do business across North America. With only 12 people on staff, they are small but mighty. They have generated up to $150 million in profit since its founding in 2010. The company is profitable, but is it trustworthy in a see of gold scams cropping up on the internet? Below we dive into how this company has thrived in the gold business.

Selling Precious Metals in North America

North America has a long history regarding gold and other precious metals. Europeans did not even know North America existed until Columbus sailed in 1492 in search of gold. Since then, buying and trading gold has become a lucrative business with mines and sellers across the globe.

In America alone, there are currently ten active gold mines and dozens more around the world. As Business Wire states, the Global Gold Mining Market was valued at $197.58 billion in 2021. While Texas Precious Metal’s $150 million may seem like a drop in a deep bucket, they have only 12 employees currently and some firms can have dozens or more. Such a small operation making so much money is incredible.

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Why the Drive for Gold?

Gold has always been a lucrative business. Not only is it a physical portion of wealth, allowing investors to feel the weight of their wealth, but it is long-lasting. While the Stock Market could crash, real estate can burn, and any number of other tragedies can happen, gold is resistant to a lot of physical damage and some buyers even prefer tarnished pieces of both bullion and jewelry because they have personality not found in a brand-new piece.

The price of gold is heavily dependent on fashion as it is one of the few industries that use gold. Currently, gold jewelry is making a comeback. When it comes to style, the price of gold rises as more is used to make pieces and buy old pieces. While gold may fall out of favor for a few years, it always makes a comeback as a staple among jewelry, malleable enough to be bent and beaten into many shapes and styles. With the addition of jewels, the price of a piece of jewelry can rise even higher than just its weight in gold.

Gold also has a history behind it that many other metals do not. It drove expeditions, was stolen away by bandits, and it even finds a place in storybooks with princesses spinning it from hay and so many treasure hunters looking to strike it rich.

Is Texas in for a Gold Rush?

Texas has been home to cowboys and ranchers since before it was Texas. People settled there for its wide swaths of land that are still perfect for cattle and horses. The one thing Texas does not produce is gold. Though there are ten active gold mines in the U.S., Texas does not feature any gold mines. Its land lends clay products and an array of vegetation from its many farms.

The gold sellers based in Texas, like Texas Precious Metals, deal in various types of bullion. While they do offer Texas gold rounds, the metal can not be sourced directly from Texas. These coins are printed with an outline of the state of Texas, its famous single star, and the name of the state, along with information about the coin telling its purity and weight.

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Buying Gold in North America

Gold can be a great investment for any portfolio. It can provide a physical commodity, or you can purchase stock in a gold mining company. While there are many ways to buy into the gold market, it is important to recognize a scam as more and more pop up on the internet. A great way to investigate a company is using Investing in Gold’s website.

They cover a variety of topics related to precious metals and have an article on Texas Precious Metals (https://investingingold.com/texas-precious-metals-reviews/) that goes over more aspects of the business. Their review goes in-depth and shows various institutions they are involved with.

When investing in physical gold, it is important to have a dealer who is knowledgeable about the metal and trustworthy. If you are unsure about a dealer, it is best to have a third party test your metal. This is a simple process that can involve either a precious metal detection test or an acid test. Usually, dealers will have a professional precious metal detector if they offer buying services.

 Investing in Gold

As any smart investor will attest, it is important to diversify your assets. By having diverse accounts, you still have other assets to fall on if one should fail. The stock market can crash, and real estate bursts, but gold will always shine. As humans, we are biologically inclined to enjoy shine and that aspect has led us to love just as easily as war. Its historical value is nearly unrivaled, with sections of history dedicated to it in countries all over the world.

If you are looking to invest in precious metals, it is important to do research first and find a trustworthy dealer. Gold can be volatile but will always have value so long as humans continue to enjoy the luster. Some stories date back centuries about man’s relationship with gold and other precious metals.

Investing in gold will provide stability in the hardest economic times and Texas Precious Metals is doing a great job of keeping North American buyers able to obtain what seems to be the favorite precious metal of the human species.

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