Silver Towne Mint, a wholly owned subsidiary of A-Mark Precious Metals Inc. of El Segundo, California, has acquired the assets of Orem-based Regency Mint Manufacturing LLC. Silver Towne acquired the Utah operation for $2 million, according to a release from A-Mark Precious Metals.
Regency Mint is a 25-year-old family-owned and operated mint that sells primarily to distributors and retailers of precious metals.
Silver Towne Mint acquired all of Regency Mint’s minting equipment, which is expected to be moved soon to the Silver Towne’s facility in Winchester, Indiana. The equipment is expected to increase Silver Towne’s capacity of struck products from 30 million to more than 50 million ounces per year. Silver Towne will also take over Regency’s customer list.
“After 25 years of producing bullion and custom rounds as a family-owned and operated business, we are confident in our decision to entrust our long-standing relationships with over 2,000 customers into the care of A-Mark and Silver Towne Mint, who we believe demonstrate Regency Mint’s same core values of integrity, exceptional customer service and product excellence,” said Regency Mint CEO Josh Tanner. “Our customers should benefit greatly from the expanded services and products available through A-Mark’s vertically integrated business.”