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Coins 'N Things: Difference between revisions
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After his father's death in 2008, Mark Oliari closed the retail shop to focus exclusively on metals trading. A [[line of credit]] from [[Wells Fargo]] provided the financial resources needed to pursue U.S. government business on a large scale. In 2010 the business obtained approval to sell gold to the [[U.S. federal government]].<ref name=Bloomberg2011/> | After his father's death in 2008, Mark Oliari closed the retail shop to focus exclusively on metals trading. A [[line of credit]] from [[Wells Fargo]] provided the financial resources needed to pursue U.S. government business on a large scale. In 2010 the business obtained approval to sell gold to the [[U.S. federal government]].<ref name=Bloomberg2011/> | ||
In | In fiscal year 2011, the company became the U.S. federal government's largest supplier of [[precious metals]], with government gold sales that accounted for about half of the $3.8 billion in contracts to supply [[silver]] and gold to the [[United States Mint]] during the year.<ref name=Bloomberg2011/><ref name=Donnelly2011>{{citation|url=http://www.masslive.com/business-news/index.ssf/2011/12/2_massachusetts_companies_tout_gold_stan.html |title=2 Massachusetts companies tout gold standard |author=Julie M. Donnelly |work=Boston Business Journal |publisher=masslive.com (republished December 13, 2011) |date=November 18, 2011}}</ref> Coins 'N Things ranked number 39 on the list of the [[top 100 contractors of the U.S. federal government]] for that same fiscal year, with $1.89 billion in obligations from the government, all from the [[United States Department of the Treasury|Treasury Department]]. It was the single largest contractor to the Treasury Department<ref>Top 100 Contractors Report for Fiscal Year 2011, retrieved April 13, 2012 from [https://www.fpds.gov/fpdsng_cms/index.php/reports Federal Procurement Data System - Next Generation] (U.S. General Services Administration)</ref> and the largest gold vendor in the U.S.<ref name=Donnelly2011/> | ||
The business has about 50 employees, including Mark Oliari, his wife Patty, and three children. There are no outside investors. As of 2011, estimated annual [[revenue]] was $6.5 billion. The company does not report its net revenues or [[profit (accounting)|profit]]s, but Mark Oliari told news media that it retains about 0.25% of the value of transactions involving private customers and a bit less from sales to the government. Gold is obtained from producers in the United States and Canada, with about 40% coming from a [[Gold extraction|refinery]] owned by the Canadian government.<ref name=Bloomberg2011/><ref name=Donnelly2011/> | The business has about 50 employees, including Mark Oliari, his wife Patty, and three children. There are no outside investors. As of 2011, estimated annual [[revenue]] was $6.5 billion. The company does not report its net revenues or [[profit (accounting)|profit]]s, but Mark Oliari told news media that it retains about 0.25% of the value of transactions involving private customers and a bit less from sales to the government. Gold is obtained from producers in the United States and Canada, with about 40% coming from a [[Gold extraction|refinery]] owned by the Canadian government.<ref name=Bloomberg2011/><ref name=Donnelly2011/> | ||