Need a Logo or a Website? Compare 8 Free Bids Today. Over 50,000 Designers Worldwide. DesignQuote.net

DQ News: Tiny Family Biz Sells Billions in Gold

In 1973, Coins ’N Things opened as a small storefront between a Dairy Queen and a hair salon in Brockton, Mass. Today they do $6.5 billion in annual sales with about fifty employees.

How do they do it?

Easy, they’re the single largest seller of raw gold the United States government.

Every weekday, Coins ’N Things faxes the Mint with the amount of gold it can furnish and the price it wants. The Oliaris compete against four other government-approved sellers, and the Mint orders from the one with enough stock on hand at the lowest price. The family says its extensive network of suppliers often means they win the day. Coins ’N Things gets roughly 40 percent of its gold from a refinery owned by the Canadian government. “You have to know everybody, everywhere,” Mark says.

Annual revenue is now about $6.5 billion, 65 percent of which comes from gold. Mark won’t reveal profits but says the company pockets about a quarter of a percent of its precious metal sales—less for the gold it sells to the government.

Photo by Gina Sanders/ShutterStock.

Need a Logo for your new company? Compare 8 Free Bids Today. Over 50,000 Designers Worldwide. DesignQuote.net

Gelatissimo: From Small Family Biz To International Franchise

Dynamic Business: The passion for making quality gelato has been ingrained in the guys since they worked for their father’s gelato bar in Crows Nest in the early nineties. “The family learnt how to make gelato from cousins of ours from the south of Italy.

Panning the Streets of NYC for Gold

CBS News: Many people have come to New York over the years in search of fortune. It is not true that the streets are paved with gold, but the sidewalks might be. Sometimes, in tough times, people think up the craziest ideas for making money. Take, for exa

Gold Prices Drive Business Growth

MSNBC: fe is suddenly very good. In almost every way Nevada is still reeling from the recession. It has the highest unemployment rate in the country at almost 13 percent, and one of the highest foreclosure rates. But in the northeast corner of the state,

Cancer Battle Leads To Donor Registery

Many of life’s events are cause for inspiration. For Jay Feinberg, it was his battle with cancer, reports Reuters. It has been 20 years since he battled leukemia and won, but that hasn’t stopped him from pushing forward to help other with the

Niche Biz: Flower Beds and Planters

From spring to fall, many yards are filled with beautiful flowers. If that yard is in the same neighborhood as Kathleen Gostissa, it was probably her handiwork that made those flowers so beautiful. Kathleen has always enjoyed flowers, but she has found a

Ecoscraps Makes Compost from Food Waste

Did you know that each year Americans throw away more than 30 million tons of food waste and that this waste accounts for nearly a quarter of all landfill waste? Today I learned about a company that is trying to profit from this trend. EcoScraps makes org