DGSE Companies
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| Type | Public company |
|---|---|
| Founded | 1965 |
| Headquarters | Dallas, Texas, United States |
| Area served | Southwestern United States |
| Key people | L.S. Smith, CEO William Oyster, COO John Benson, CFO |
| Industry | Retail and wholesale |
| Products | Jewelry, coins, precious metals, watches |
| Revenue | US$35,319,133 |
| Website | www.dgse.com |
DGSE Companies, Inc. are a leading precious stones and metals wholesaler and retailer in the Southwestern United States, headquartered in Dallas, Texas.[1][2] They are traded on NASDAQ under the stock symbol DGSE.[3]
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[edit] History
Originally known as American Pacific Mint Inc., they incorporated in Nevada in September 1965, and later moved to Azusa, California.[3][4] They purchased the Dallas Gold and Silver Exchange in September 1987 for an undisclosed amount. Dallas Gold and Silver Exchange continued operating as a subsidiary of American Pacific Mint. In January 1992, after seeing that subsidiary achieve record results and a 19% jump in profits, American Pacific Mint announced their plan to move their headquarters to Dallas and rename the entire company as Dallas Gold and Silver Exchange.[5] Shareholders approved the plan in July that year.[6] In July 2001, they began to use their present name.[7]
They were one of the earliest coin and bullion dealers to begin doing business on the internet; they set up a website to auction jewelry from their stores in 1995, and later launched two further websites for auctioning watches and to allow jewelry manufactures and vendors to sell to each other and directly to the public. They also set up a website to provide real-time price quotes for precious metals.[1] Their revenues from their internet business began to show dramatic growth in 1999; revenue to March 15 of that year was five times the revenue for their 1998 fiscal year.[8] Their acquisition of Superior Galleries, and the success of Superior's first auction under DGSE ownership, drove their share price up 33% to $4.06 in August 2007.[9]
[edit] Timeline
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This article does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (June 2009) |
1965 - Incorporation of American Pacific Mint
1978 – Rainbow Rare Coins founded
1980 – Rainbow Rare Coins changes name to to Dallas Gold & Silver Exchange
1987 – Publicly traded American Pacific Mint acquires the assets of Dallas Gold & Silver Exchange
1991 – Dallas Gold & Silver Exchange acquires its first Texas pawn license to provide jewelry loans to its customers
1995– Dallas Gold & Silver Exchange launches online auction platform
1998 – Dallas Gold & Silver Exchange acquires National Jewelry Exchange a small pawnshop in Carrolton, Texas
2000 – Dallas Gold & Silver Exchange opens Charleston, South Carolina location under the name Charleston Gold & Diamond Exchange
2000 – Dallas Gold & Silver Exchange acquires Fairchild International, one of the largest wholesale fine watch companies in the United States
2003 – U.S. Bullion Exchange is launched to handle trading and execution of all precious metals transactions system wide for all DGSE Companies. USBE provides an Internet based trading platform for all DGSE customers.
2005 - Parent company’s name changed to DGSE Companies, Inc
2007 – Dallas Gold & Silver Exchange acquires the assets of Euless Gold & Silver and opens Dallas Gold & Silver Exchange Fort Worth/Euless location
2007 - DGSE Companies, Inc. lists on the American Stock Exchange
2007 – The second Dallas area National Pawn store is opened.
2007 – American Gold & Silver Exchange is launched with national advertising roll-out allowing individuals from anywhere to send jewelry and precious metals to DGSE for purchase.
2007 – Superior Estate Buyers is launched and conducts its first remote buying events
2007 – DGSE Companies, Inc. acquire Superior Galleries, one of the United States' oldest and largest numismatic auction houses
2007 - Superior Galleries conducts its first jewelry and fine time piece auction in Beverly Hills, California
2007 – Superior Precious Metals is launched to service precious metals and rare coin retail customers
2008 - Superior Gold & Diamond Exchange is opened in Woodland Hills, California
[edit] References
- ^ a b Schmidt, Rob (2000), "The e-commerce ticket for coin and bullion investors: These shares turn collectibles into investibles", Coin Connoisseur Magazine, http://www.coinmag.com/article_ecommerce1.html, retrieved on 2007-10-11
- ^ "Dallas Gold & Silver Exchange, Inc.", Dallas Business Journal, 2007, http://dallas.bizjournals.com/dallas/gen/company.html?gcode=C412F809EDB248FA921043A99E1CDFB3, retrieved on 2007-10-11
- ^ a b "LA Briefly", Daily News of Los Angeles, 1987-09-03, http://docs.newsbank.com/g/GooglePM/LA/lib00086,0EF5158EF2D9077C.html, retrieved on 2007-10-11
- ^ Form 10KSB SEC Filing, DGSE Companies, Inc., 1998-03-13, http://sec.edgar-online.com/1998/03/13/09/0001010549-98-000068/Section2.asp, retrieved on 2007-09-18
- ^ "American Pacific Mint Plans Move to Dallas", Los Angeles Times, http://articles.latimes.com/1992-01-07/business/fi-1555_1_american-pacific-mint, retrieved on 2009-06-04
- ^ "Name change OK'd", American Metal Market, 1992-07-13, Archived from the original on 2006-02-28, http://web.archive.org/web/20060228112430/http://www.findarticles.com/p/articles/mi_m3MKT/is_n134_v100/ai_12425021, retrieved on 2007-10-11
- ^ "Dallas Gold & Silver Exchange changes name to DGSE", Dallas Business Journal, 2001-07-05, http://www.bizjournals.com/dallas/stories/2001/07/02/daily25.html, retrieved on 2007-10-11
- ^ "Dallas Gold and Silver Exchange reports Internet growth", Dallas Business Journal, 1999-03-15, http://www.bizjournals.com/dallas/stories/1999/03/15/daily9.html?jst=s_cn_hl, retrieved on 2007-10-11
- ^ "DGSE up 33 Percent", Speeple News, 2007-08-08, http://news.speeple.com/mn1.com/2007/08/08/dgse-up-33-percent.htm, retrieved on 2007-10-11
