Spectrum Group International's A-Mark Precious Metals, Inc. Announces the Introduction of Sunshine M
Spectrum Group International's A-Mark Precious Metals, Inc. Announces the Introduction of Sunshine Minting, Inc.'s New Line of Branded Bullion Products
SANTA MONICA, Calif.--(BUSINESS WIRE)-- A-Mark Precious Metals, Inc. ("A-Mark"), a subsidiary of Spectrum Group International, Inc. (SPGZ) ("SGI"), announced today that they have signed an exclusive global distribution agreement with Sunshine Minting, Inc. ("SMI"), for SMI's new line of branded bullion products that incorporates a Scrambled Indicia security feature into each product.
Greg Roberts, CEO of A-Mark and SGI, noted, "The distribution agreement with SMI is a natural fit for both companies as it leverages A-Mark's core strength as a full service precious metals trading company and its international distribution network with SMI's world class bullion manufacturing operation."
Developed initially for the security printing industry, the SMI "MintMark SI™" security feature will be incorporated into the reverse of every new SMI branded bullion product. While not visible to the naked eye, when viewed through an adaptor for your iPhone™ or a unique decoding lens, the security feature becomes visible.
David Madge, president of A-Mark, observed, "This is a natural evolution for the bullion market. For years paper currency has been using security features to reduce the possibility of counterfeiting. Now SMI has made it possible to get a similar feature in their SMI branded bullion products."
The new obverse design features the Sunshine Minting hallmark of an eagle with the sun and light rays in the background. Gold bars are certified to be 9999 fine, will initially be offered in the one ounce size and will ultimately range in size from 1 gram to 100 grams, are serialized and come in security packaging. Silver bars and rounds will feature the Sunshine Minting hallmark and are certified to be 999 fine, will initially be offered in ten and one ounce bars and rounds and will ultimately range in size from half ounce to 100 ounces. The reverse of each design incorporates the new security feature.
Tom Power, CEO of SMI, stated, "For years now SMI has been the world's leading supplier of precious metal bullion blanks. When we decided to rebrand our own SMI bullion products, we wanted to make sure they were easily recognized as Sunshine products, were of the highest standard and utilized the latest technology for security."
About Spectrum Group International, Inc.
Spectrum Group International, Inc. (together with its subsidiaries, "we," the "Company" or "SGI") is a global trading and collectibles network. We are a trader of precious metals and an auctioneer of coins and wine, serving both collectors and dealers. We are also a merchant/dealer of certain collectibles. Our collectibles offerings span the price spectrum from modest to ultra-high end. Furthermore, we offer loans to coin dealers, collectors and investors backed by their precious metals, rare coins, and other collectibles as collateral.
Our Trading business is conducted through A-Mark Precious Metals, Inc. ("A-Mark") and its subsidiaries. A-Mark is a full-service precious metal trading company, and an official distributor for many government mints throughout the world. A-Mark products include gold, silver, platinum and palladium for storage and delivery in the form of coins, bars, wafers and grain, and our services include financing, leasing, consignment, hedging and various customized financial programs. A-Mark's subsidiary, Collateral Finance Corporation, provides financing on a wide array of bullion and numismatic products.
Our Collectibles business operates as an integrated network of leading companies concentrating on numismatic (coins) and rare and fine vintage wine. We have offices and auction houses in North America, Europe and Asia. In addition to traditional live auctions, we also conduct Internet and telephone auctions.
Spectrum Group's Collectibles companies in the numismatics field include Stack's Bowers Galleries (rare coin and currency auction house), Stack's Bowers and Ponterio (world and ancient coins and currency auction house), Teletrade (online coin auctions), and Spectrum Numismatics International (wholesale rare coin dealer), all based in Irvine, California. Spectrum Wine Auctions is engaged in the sale by auction of rare and fine vintage wine.
Safe Harbor Statement
This press release contains forward-looking statements, including statements regarding the proposed transaction. Any statements contained herein that are not statements of historical fact may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934..Actual results may differ materially from forward-looking statements due to a number of risks and uncertainties, including the risk that the conditions to the closing of the transaction may not be satisfied. Other factors that could cause actual results to differ are identified in our public filings with the Securities and Exchange Commission (SEC), and include the fact that we have not filed all of our reports required by the Securities Exchange Act of 1934. More information about factors that could affect our business and financial results included in our public filings with the SEC, which are available on the SEC's website located at www.sec.gov.
The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. Additionally, any statements related to future improved performance and estimates of revenues and earnings per share are forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
A-Mark Precious Metals, Inc.
David Madge, President
KEYWORDS: United States North America California
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