Texas Precious Metals

  • Millions of dollars worth of precious metal hidden in secret vault in rural Texas town
    • Posted on March 2, 2021
    • By TPM
    • General

    The most sought-after metals on earth are sitting in a secret underground vault. KENS 5 got rare access inside where up to $5 billion of valuables can be stored.

    Author: Sharon Ko
    ORIGINAL ARTICLE HERE

    SHINER, Texas — The most sought-after metals on earth are sitting in a secret underground vault east of San Antonio. KENS 5 got rare access inside the storage facility where up to $5 billion worth of gold, palladium, and other valuables can be held.

    A short drive east of San Antonio will land you in a place that’s known for its beer. The Spoetzl Brewery is owned by the Gambrinus Company and distributes Shiner Bock nationwide. But in the small community of Shiner, a secret operation is hidden underground.

    Texas Precious Metals and its depository are subsidiaries of Kaspar Companies in Shiner. Kaspar Companies was founded in 1898 and is the largest employer in Lavaca County.

    Texas Precious Metals and its depository operate hand-in-hand to sell, buy and store precious metals. Jason Kaspar, the CEO and fifth-generation of Kaspars, leads the business. KENS 5 spoke with the president and co-founder of the business, Tarek Saab, who gave us exclusive access inside their facility.

    “These days, we have clients that range anywhere between $50 worth of metal in the depository to in some cases, $15 million,” said Saab. “We have clients from all over the world that have opened accounts inside the depository.”

    Due to security concerns, a camera was not allowed inside the underground facility. But KENS 5 was able to take a private tour. The storage is concrete entombed, with three layers of concentric protection, and has the world’s most secure vaults inside. It also has bulletproof doors, man traps, truck traps, biometric scanners, metal detectors, and armed security. The entire area is monitored 24/7 and connected to alarms that can alert law enforcement officers who are located within 1 mile of the facility.

    “You can’t entirely eliminate risk. In any industry or in any vault around the world. But you can work extremely hard to mitigate that risk and that’s what we have done,” said Saab.

    Texas Depository launched in 2018 but since the coronavirus pandemic started, Saab says business has increased threefold. The storage holds gold, silver, platinum, and palladium. The precious metals are 100% insured by Lloyd's of London.

    “I have often joked that we’re like the toilet paper in the financial industry. You don’t realize how badly you need it until it’s not available,” explained Saab. “There was a huge run on precious metals in the market during COVID. We were extremely busy trying to keep up with the overall demand, as people were pulling from equities, pulling from their bank accounts to try to build in a little bit of protection.”

    Saab further explains why the asset remains highly attractive.

    “It has a 5000-year track record as being money. Gold is money par excellence. It is the reason why central banks have gold on their balance sheet,” said Saab. “Gold is always going to have a role in the financial system.”

    Saab said the volatility of the stock market, which includes the activity related to the GameStop short sellers has largely affected his business.

    “On the heels of the GameStop squeeze, the next asset that was targeted was silver. The first weekend of February, there was a massive run on silver. We sold about three months' worth of silver in a span of 48 hours,” he said.

    KENS 5 spoke to one man who stored his valuables at the depository. He wished to remain anonymous for the story. He said the dot-com crash of 2000 and the financial crisis of 2008, drove him to invest in precious metals as a hedge against crises. The client shared that civil unrest over the summer pushed him to store his wealth.

    “I just got worried that maybe someone would find out I had it or someone broke in and might cause harm. You know, harm my family or myself. I just didn’t want that present,” he said.

    Saab shared stories of ranchers who stored metal on their property and became targeted by their own employees. In some cases, he said people have been held at gunpoint and had their valuables stolen.

    “With geopolitical uncertainty and volatility in the markets, people tend to flock to metal. This trajectory that we’ve been on in the last couple of years is accelerating,” said Saab.

  • Shipping Update 02-16-2021

    As we feared, the severe weather conditions affecting all of Texas have greatly impacted our business operations and supply chain.

    - We are presently experiencing rolling blackouts lasting 3-4 hours at a time. We have tried to keep the phone lines open by spreading the staff across multiple locations, but phone service may be intermittently unavailable for the next 24-48 hours. If the matter is urgent, email may be a more effective means of communication: contactus-tpm@texmetals.com

    - UPS has not retrieved packages for the last two days, and we do not know at this time if they will be picking up packages tomorrow, Wednesday, February 17th.

    Please understand that the shipping delays enhanced by these conditions are equally as frustrating to our staff as they are for you. We will continue to do everything humanly possible to move metal out the door.

    I will keep you posted as conditions change. Thank you for your patience with us.

    Sincerely,
    Tarek Saab
    President

  • Company Update 2-5-21

    This week we are proud to celebrate our 10-year anniversary, and over the coming months we look forward to celebrating this milestone with you. Never in those ten years have we ever experienced the challenges and unprecedented spike in volume that we have experienced over the past week – not even during the Covid crisis. The news of the attempted silver short squeeze has been well-reported and has driven historic demand during a period in which inventories have not yet fully recovered from supply chain disruptions.

    Read More

  • Metals Caught in the Middle

    Gold

    Metals bulls have been frustrated with repeated attempts to break out of a multi-month bull flag/falling channel. At the turn of the new year, with the presidential election all but behind the country, and with calls for more money-printing and ongoing stimulus, it seemed a given that – like the base metals and energy - gold would break out and follow the inflation narrative to higher prices. And, for three days, that is just what happened, as gold pushed from a 2020 close of $1895 to $1960 in the first three days of the new year, only to sell off hard and fall back below falling trend line support. This was gold’s second pass at $1960, which was the 6.18% Fibonacci retracement from the August high to the November low. As the saying goes, from failed moves come fast moves, and the failed move precipitated a $160 sell-off in a week and a half ($140 of which occurred in the 3 days following the peak). It was a major head fake for bulls and stopped out many traders who bought the breakout. Price also lost the 200-day moving average, which was another warning sign for bulls.

    Read More

  • Silver Breaking Out

    The month of November was a bit of a roller coaster for metals bulls, as price appeared to breakout, only to reverse on vaccine news and become extremely oversold by mid-December. All the more frustrating was the continued sell-off in the US dollar, which many expected to spark the next leg higher in metals prices, but new lows in the dollar coincided with multi-month bottoms in metals. Meanwhile, all attention has since returned to bitcoin, which broke out to all-time highs while metals remained in consolidation mode. So, where are we now?

    Read More

  • 2020 End of Year Schedule

    *During long holiday breaks, such as Thanksgiving, Christmas, and New Year's, please note that we do "hold" packages from shipping on certain days for security reasons (packages lingering in sort facilities around holidays pose higher security risks). We believe this grace period is in the customer's best interest, and could potentially impact the 3-day shipping window slightly.

    LAST DAY TO ORDER FOR DELIVERY BY CHRISTMAS!

    (YES, PROCRASTINATORS, WE SEE YOU.)

    Wednesday, December 16th: Orders less than $1,000
    Monday, December 21st: Orders larger than $1,000

    Please note that these dates refer to the date your payment clears. Orders paid by electronic check (ACH) may take 1 to 2 additional days to process from the time you submit your electronic check (ACH) Registration Documents.

     

    CHRISTMAS WEEK HOURS

    Monday, December 21st: 8:00 AM - 6:00 PM CST
    Tuesday, December 22nd: 8:00 AM - 6:00 PM CST. *Last day of shipping for the week.
    Wednesday, December 23rd: 8:00 AM - 2:00 PM CST. *Our vault will not be shipping.
    Thursday, December 24th: Christmas Eve.  We are CLOSED.
    Friday, December 25th: Christmas Day. We are CLOSED.

    NEW YEAR'S WEEK HOURS

    Monday, December 28th: 8:00 AM - 6:00 PM CST
    Tuesday, December 29th: 8:00 AM - 6:00 PM CST - Last day of shipping for the week.
    Wednesday, December 30th: 8:00 AM - 6:00 PM CST - Our vault will not be shipping.
    Thursday, December 31st: 8:00 AM - 12:00 PM CST - Our vault will not be shipping.
    Friday, January 1st: New Year's Day - We Are Closed

  • 2020 Thanksgiving Schedule

    *During long holiday breaks, such as Thanksgiving, Christmas, and New Year's, please note that we do "hold" packages from shipping on certain days for security reasons (packages lingering in sort facilities around holidays pose higher security risks). We believe this grace period is in the customer's best interest, and could potentially impact the 3-day shipping window slightly.

    Monday, November 23rd: We are open during normal business hours. Full shipping day.

    Tuesday, November 24th: We are open during normal business hours. *Last day of shipping for the week.

    Wednesday, November 25th: Our offices will close at 2pm CST. Our vault will not be shipping.

    Thursday, November 22nd: Thanksgiving Day.  We are CLOSED.

    Friday, November 23rd: We are CLOSED.

  • Metals: What Happened?

    In my last post, I commented on the strong breakouts in metals out of bull wedge consolidations. These breakouts were ultimately short-lived and quickly reversed on vaccine news, washing out swing longs and once again pushing price lower to another test of falling resistance. The thesis from that post remains intact – metals continue to remain in strong uptrends with price likely to push to higher highs – but in the near term price continues to digest supply and needs more time.

    Read More

  • The Election, Metals, and Uncertainty
    • Posted on November 6, 2020
    • By TPM
    • General

    Today is November 6th, we still do not have a President-elect, and the legal fight over ballots and vote-counting seems destined to drag on for weeks, if not months. For those investors determined to allocate capital based upon the election outcome, the uncertainty can be paralyzing. We can expect a likelihood of a split government, but there is no certainty beyond that. My solution is to follow price.

    Read More

  • Comparing Debt Growth to Gold and Silver Coin Production During US Presidencies