top of page
Search
Writer's picturesilverbarstacker
May 233 min read

Exploring the Controversial History of Ohio Precious Metals

Silver collectors and investors are always on the lookout for new and exciting varieties of silver bars and rounds. Here at Silver Bar Stacker, we specialize in some of the more common vintage private refiners from the turn of the century such as Engelhard, Johnson Matthey, USVI Ingot Company, Sunshine Mining, Bunker Hill, and more, but we also have an interest in smaller more obscure refiners such as Ohio Precious Metals, which was a subsidiary of Elemetal, LLC, one of the largest precious metals refiners in the United States in the past decade.


The Company


Ohio Precious Metals was founded in 1974 and quickly established itself with a reputation for pursuing environmentally friendly precious metal refining techniques. The company was formed in the garage of some crafty precious metal enthusiasts. Originally, the company secured precious metals by simply reclaiming metals stripped for telephone equipment and melted it down for resale as bullion bars. The company has gone by many names over the years, ranging from Ohio Precious Metals LLC to OPM or OPM Metals.


Ownership over the company changed hands multiples times throughout its first three decades of existence, but one of its first significant moments came in 2003, when the company changed ownership and underwent an expansion that made it the largest good delivery refinery in the US that could also boast of being “All-American” in its production. OPM is one of the few private refineries to exist solely within the United States for the entirety of its operations.


The company produces gold and silver bullion products that are from recycled sources, such as photographic sources and the telephone industry. Additionally, recycled jewelry was a source of gold and silver for the company in its early days, and it won awards for its environmentally friendly approach to precious metals production.


OPM Gold & Silver Bars


From the origins of its production regimen, OPM offered gold and silver bars in varying weights and styles. OPM silver bars are available in 1 ounce, 10 ounce, 1 kilogram, and 100 ounce weights. The OPM refinery is capable of refining scrap metals to 99.9 percent pure silver. Impure metals are meticulously upgraded through various processes to achieve a high-quality finished product. The silver bars minted by OPM Metals have .999+ fine silver content.


All OPM Metals pressed silver bars and rounds feature the company’s simple signature design. The OPM logo and “OPM Metals” name are stamped on the front of the piece. Additional information is also included, including the weight in troy ounces and the silver quality.

The “U.S.A.” feature makes it clear that the silver bars and rounds were minted in America. The back of OPM Metals silver bars and rounds features the OPM logo in a repeating pattern. This simple image gives the silver bar a stunning texture that’s popular among collectors. Supreme craftsmanship is evident in every bar and round.


Ohio Precious Metals (OPM) 1oz .999+ Fine Vintage Silver Round


While the pressed bars and rounds feature a brilliant shine, the poured bars tend to have more of a matte finish.


10oz Ohio Precious Metals OPM Poured .9995 Silver Bar with Mushroom 🍄 Mark


Both options offer an elegant and sophisticated appearance. These beautifully designed silver bars make wonderful gifts for anyone who wants to introduce the recipient to the world of precious metal investing. Generally speaking, Ohio Precious Metals bars ranged in finish and style from minted ingots with refined appearances to larger-weight cast bars in both metals that were aimed directly at investors interested purely in the metal content.


In 2018, OPM's parent company, Elemetal, LLC, was involved in a major scandal involving three of the company's Miami-based gold dealers, who were convicted of a massive money-laundering racket. This resulted in the loss of many Ohio-based jobs and was a major blow to the company as a whole, who was ordered to pay the U.S. government $15 million as a criminal fine, while being under probation for five years as ruled by a federal judge.


If you want to learn more or place an order, please visit our website for more information. We have a large inventory of products that we source from reputable suppliers and that we verify the purity of using industry-standard Sigma Metalytics testing equipment: https://www.silverbarstacker.com


330 views0 comments

Comments

bottom of page