Ohio Precious Metals
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Ohio Precious Metals (OPM)
As one of the largest precious metals refiners and producers in the United States, Ohio Precious Metals (OPM) is highly recognized for their quality product and environmentally friendly practices. Their products are very popular, particularly among investors because of their quality and low cost. Read on to learn more about OPM Metals and the bullion products they offer.
Ohio Precious Metals began business in 1974 in a garage in Jackson, Ohio. At that time, it was just a simple business of reclaiming precious metals from old telephones. Up until 2003, the business changed names and owners multiple times. However, in April 2003, Ohio Precious Metals, LLC was organized and began doing business as OPM Metals. Today, their 168,000-square-foot facility, which is still in the same town, is one of the country’s largest manufacturers and refiners of gold and silver bullion. The state-of-the-art building is open 24 hours a day throughout the year and employs over 200 people.
Refining Services Offered
While the biggest focus of OPM Metals is silver and gold, they also offer both high-grade and low-grade refining. Their high-grade refining options are available to secondary refiners, the banking industry, jewelers, pawnbrokers, and coin dealers. Their low-grade refining options are available to an even larger market. Here, they can refine dried non-hazardous sludges, slags, mechanically processed sweeps, crucibles, bench waste, polishings, grindings, and low-grade copper bullion.
Environmentally Friendly Practices
One way that OPM Metals stands out from other mints is their focus on the environment. SCS Global Services has certified that the gold and silver from OPM Metals is conflict-free and 100 percent recycled. These metals are also made with fair labor practices and a commitment to reduce environmental impact. Additionally, for the safety of their employees and the environment, OPM Metals refuses to accept any items that contain harmful substances such as radioactive materials, mercury, cadmium, beryllium, or selenium.
For the company, one focus is replacing the current aqua regia gold refining process with the more environmentally friendly Miller chlorination process. The aqua regia process uses a highly corrosive mixture of acids to refine gold. However, the Miller chlorination process involves blowing pure chlorine gas over the gold to purify it. This makes the gold 99.95 percent pure without using a harmful combination of chemicals.
Not only is the Miller chlorination process safer for the environment and workers, it also doesn’t increase the price of gold. The process is easy to use and has a quick turnaround time. With this efficiency, OPM Metals can quickly produce high-quality precious metals that are some of the most affordable in the industry.
Different Types of Metal and Bullion Produced
At this time, OPM Metals only offers silver and gold. However, their metals are of such high quality that investors are always happy with what they receive. Additionally, OPM Metals makes both bullion rounds and bars, although they have a greater choice of bars. They produce 1 ounce, 10 ounce, 100 ounce, and 1 kilogram silver bars, as well as 1 ounce and 1 kilogram gold bars and 1 ounce silver rounds. The company mints all of its bars with the purity and weight stamped on the front. Their silver bars are 99.9 percent pure, and their gold bars are .9999 pure.
Special Security and Anti-Counterfeiting Techniques
Part of what makes OPM Metals so advanced is the security and anti-counterfeiting techniques they have in place. The official stamp, used since 2012, is a mushroom surrounded by the words “Ohio Precious Metals, Jackson.” This stamp commemorates the mushroom farming that once occurred where the plant is now located. Since 2013, the company has created a newly redesigned stamp of a stylized “O” for all newly minted products. Each bar has these stamps applied so buyers are confident they’re purchasing a legitimate piece of precious metal.
OPM Metals goes one step further than most by protecting their smaller gold bars with assay. These bars come with an assay card that lists the purity, weight, and other important information to guarantee the authenticity of the bar. Not only that, most of the larger gold bars also come with a unique serial number stamped on the front.
Not only do buyers like purchasing from OPM Metals because of their high-quality metals, they also feel secure knowing the precious metals they’re buying are top quality. In September 2012, OPM Metals’ gold and silver was added to the Commodity Exchange’s (COMEX) list of approved brands. They are only one of two companies added in the past 20 years, and the largest United States-owned refinery with this approval.
Additionally, since May 2014, silver bars from OPM Metals are also listed on the London Bullion Market Association (LBMA) Good Delivery List. Gold bars from OPM Metals were already on the list as of December 2013. This means that the company is the only refiner in the United States to have both their silver and gold bars on this LBMA list. The LBMA only accepts companies whose gold and silver pass their rigorous examination and whose bars meet the standard required for acceptance into the London bullion market. With these accreditations, buyers know that the precious metals they get from OPM Metals are authentic, easy to store, and even easier to trade.
Generalized Pricing and Availability
While silver prices will fluctuate depending on the market, OPM Metals is known for having fairly priced bullion. Their silver bullion prices are typically right in line with the industry average, if not lower. Since the company is still producing their bars and rounds regularly, these easily recognizable pieces are sold around the world. Investors trust OPM Metals because of their well-known quality.
If you’re interested in purchasing your own precious metals made by OPM Metals, be sure to look over Silver.com to see everything we have to offer. We have many OPM Silver Bars which range in size from 1 oz to 100 oz as well as their 1 oz silver rounds in new condition.