Baird & Co

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Baird & Co.
Founded1967;57 years ago (1967)
FounderTony Baird
Headquarters48 Hatton Garden, London, EC1N 8EX,
London
,
England
ProductsBullion, Jewellery, Planchets [1]
Number of employees
+50
Website www.bairdmint.com

Baird & Co. is the largest gold refiner and the only full-service bullion merchant in the United Kingdom. Founded by Tony Baird in 1967; Baird & Co. initially dealt in numismatic coins expanding into bullion bars and jewellery as time progressed.[ citation needed ] The company is headquartered in Hatton Garden, London, [2] operating out of a 30,000 sq foot high-security refinery in Beckton [3] and an international branch in Singapore. [4]

Contents

Operations

The company primarily trades gold, silver, platinum, palladium and rhodium bars and numismatic coins. All are offered in a range of weights and sizes aimed at private investors, collectors and institutional clients. Baird and Co. also provides vaulting facilities, as well as manufacturing specialist alloys for industrial use. [5] [6]

Founder and Company History

The company's founder Antony Stephen Baird was born in 1942 at the family ancestral home in Lanarkshire, Scotland. Shortly, after World War II, the family moved to London and he began bartering coins at school. However, it was not until 1967, and the launch of the South African krugerrand, that he took up coin dealing as a full-time occupation. By the mid-70s Tony had established a permanent office in Stratford and would often drive to Switzerland in his E-Type Jaguar to collect thousands of gold coins. On 1 April 1982 VAT was applied to gold coins at the going rate of 15% (it was subsequently removed on 1 January 2000) and the following collapse of the UK gold coin market encouraged Tony to diversify into other gold products, particularly jewellery manufacturing and more recently producing gold bars. 1987 saw the opening of their first branch in Hatton Garden where they provided over the counter cash trade. Baird & Co. moved to their brand new refinery in 2008 to accommodate the Olympics in Stratford. [7] Baird & Co. remains privately owned. [8] Tony Baird died on 12 April 2015. He is survived by his wife Lorena and two sons Alex and Carlos. His funeral was held on 10 September 2015 and was attended by several LBMA members.

Awards

The company has been offering precious metal coins and bars online via its website since 1996, making it the first website of its kind in the industry and one of the first dynamic websites in the UK. [9] In 2000 Baird & Co. gained entry to the London Bullion Market Association (LBMA) and remains a full member. [10] Between 2011 and 2013 Baird & Co. ranked in the Sunday Times Fast Track 100, Top Track 250 and Profit Track 100 league tables of the fastest-growing private companies in the UK [11] [12] [13] and also featured in the Real Business Hot 100. [14] [15] In 2012 Baird & Co, released the world's first commercial rhodium investment bar [16] [17] and partnered with the nation of Tuvalu in 2018 to produce the world's first legal tender rhodium coin; The Tuvalu South Sea Dragon. [18] Baird & Co. became an official distributor of The Royal Mint in 2016 and were winners of the Queen's Enterprise Award for Business in the international trade category in 2018. [19]

Related Research Articles

<span class="mw-page-title-main">Krugerrand</span> South African gold coin

The Krugerrand is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of Paul Kruger, the former President of the South African Republic, and rand, the South African unit of currency. On the reverse side of the Krugerrand is a pronking springbok, South Africa's national animal.

<span class="mw-page-title-main">Precious metal</span> Rare, naturally occurring metallic chemical element of high economic and cultural value

Precious metals are rare, naturally occurring metallic chemical elements of high economic value. Precious metals, particularly the noble metals, are more corrosion resistant and less chemically reactive than most elements. They are usually ductile and have a high lustre. Historically, precious metals were important as currency but are now regarded mainly as investment and industrial raw materials. Gold, silver, platinum, and palladium each have an ISO 4217 currency code.

The ounce is any of several different units of mass, weight, or volume and is derived almost unchanged from the uncia, an Ancient Roman unit of measurement.

<span class="mw-page-title-main">Bullion</span> Gold, silver, or other precious metals in the form of bars or ingots

Bullion is non-ferrous metal that has been refined to a high standard of elemental purity. The term is ordinarily applied to bulk metal used in the production of coins and especially to precious metals such as gold and silver. It comes from the Anglo-Norman term for a melting-house where metal was refined, and earlier from French bouillon, "boiling". Although precious metal bullion is no longer used to make coins for general circulation, it continues to be held as an investment with a reputation for stability in periods of economic uncertainty. To assess the purity of gold bullion, the centuries-old technique of fire assay is still employed, together with modern spectroscopic instrumentation, to accurately determine its quality.

The London Gold Fixing is the setting of the price of gold that takes place via a dedicated conference line. It was formerly held on the London premises of Nathan Mayer Rothschild & Sons by the members of The London Gold Market Fixing Ltd.

A bullion coin is a coin struck from highly refined precious metal (bullion) and kept as a store of value or an investment rather than used in day-to-day commerce. A bullion coin is distinguished by its weight and fineness on the coin. Unlike rounds, bullion coins are minted by government mints and have a legal tender face value. Bullion coins can have fineness ranging from 91.9% to 99.99% purity.

<span class="mw-page-title-main">Gold as an investment</span> Investment in gold

Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and volatility as are other markets. Compared to other precious metals used for investment, gold has been the most effective safe haven across a number of countries.

<span class="mw-page-title-main">Gold bar</span> Quantity of refined metallic gold

A gold bar, also known as gold bullion or a gold ingot, refers to a quantity of refined metallic gold that can be shaped in various forms, produced under standardized conditions of manufacture, labeling, and record-keeping. Larger varieties of gold bars, produced by casting molten metal into molds, are called ingots. Smaller bars are often created through minting or stamping from rolled gold sheets. Central banks typically hold the standard 400-troy-ounce Good Delivery gold bar in their gold reserves and it is widely traded among bullion dealers. Additionally, the kilobar, weighing 1,000 grams, and the 100-troy-ounce gold bar are popular for trading and investment due to their more manageable size and weight. These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and traders. While most kilobars have a flat appearance, a preference for brick-shaped bars exists among some investors, particularly in Europe.

<span class="mw-page-title-main">Silver as an investment</span> Precious metal as a store of value

Silver may be used as an investment like other precious metals. It has been regarded as a form of money and store of value for more than 4,000 years, although it lost its role as legal tender in developed countries when the use of the silver standard came to an end in 1935. Some countries mint bullion and collector coins, however, such as the American Silver Eagle with nominal face values. In 2009, the main demand for silver was for industrial applications (40%), jewellery, bullion coins, and exchange-traded products. In 2011, the global silver reserves amounted to 530,000 tonnes.

Gold exchange-traded products are exchange-traded funds (ETFs), closed-end funds (CEFs) and exchange-traded notes (ETNs) that are used to own gold as an investment. Gold exchange-traded products are traded on the major stock exchanges including the SIX Swiss Exchange, the Bombay Stock Exchange, the London Stock Exchange, the Paris Bourse, and the New York Stock Exchange. Each gold ETF, ETN, and CEF has a different structure outlined in its prospectus. Some such instruments do not necessarily hold physical gold. For example, gold ETNs generally track the price of gold using derivatives.

<span class="mw-page-title-main">London Bullion Market Association</span> Trade association for precious metals

The London Bullion Market Association, established in 1987, is the international trade association representing the global Over The Counter (OTC) bullion market, and defines itself as "the global authority on precious metals". It has a membership of approximately 150 firms globally, including traders, refiners, producers, miners, fabricators, as well as those providing storage and secure carrier services.

Rand Refinery (Pty) Limited is the largest integrated single-site precious metals refining and smelting complex in the world. It was established in 1920 to refine gold within South Africa which until that time had been refined in London.

<span class="mw-page-title-main">Good Delivery</span> Bullion specification

The Good Delivery specification is a set of rules issued by the London Bullion Market Association (LBMA) describing the physical characteristics of gold and silver bars used in settlement in the wholesale London bullion market. It also puts forth requirements for listing on the LBMA Good Delivery List of approved refineries.

<span class="mw-page-title-main">Gold coin</span> Coin made from gold

A gold coin is a coin that is made mostly or entirely of gold. Most gold coins minted since 1800 are 90–92% gold (22‑karat), while most of today's gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo. Alloyed gold coins, like the American Gold Eagle and South African Krugerrand, are typically 91.7% gold by weight, with the remainder being silver and copper.

A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars. Precious metals IRAs are usually self-directed IRAs, a type of IRA where the custodian allows more diverse investments to be held in the account.

PAMP SA is an independently operated precious metals refining and fabricating company and member of the MKS Group. It was established in 1977 in Ticino, Switzerland.

Emirates Gold is a precious metal refinery, bullion manufacturer, and dealer based in Dubai, United Arab Emirates. Working primarily with gold and silver, the company produces its own bullion which is recognized internationally, as well as other products such as investment bars in sizes ranging from 1 gram to 100 grams, and customized coins and medals.

<span class="mw-page-title-main">American Palladium Eagle</span> Palladium bullion coin of the United States

The American Palladium Eagle is the official palladium bullion coin of the United States. Each coin has a face value of $25 and is composed of 99.95% fine palladium, with 1 troy ounce actual palladium weight.

<span class="mw-page-title-main">Chard Coin and Bullion Dealer</span> Coin and bullion dealer based in Blackpool, UK

Chard (1964) Ltd, operating as Chard Coin and Bullion Dealer, is a long-standing coin and bullion dealer based in Blackpool, UK. Its coins range from ancient to modern-day issues. Originally a numismatic company, it grew into the bullion market, offering gold, silver, platinum and palladium products to an international customer base.

References

  1. ↑ "First Scottish gold sold for 'premium' price". BBC News. 29 November 2016. Retrieved 29 May 2017.
  2. ↑ "Gold Rush: driving £3m worth of gold in a Porsche Panamera". Top Gear. 2 February 2018. Retrieved 23 January 2019.
  3. ↑ "The pots of gold at the east edge of London". The Guardian. 26 December 2017. Retrieved 4 September 2019.
  4. ↑ "Baird & Co. Opens Singapore Office as Asian Gold Demand Rises". Bloomberg. October 2013. Retrieved 4 September 2019.
  5. ↑ "Hot 100 2012 – 2: Baird Investments - Real Business". Hot 100 2012 – 2: Baird Investments - Real Business : Real Business. 5 April 2012. Retrieved 23 January 2019.
  6. ↑ Hunter, Teresa (27 November 2008). "Ten ways to invest in gold". ISSN   0307-1235 . Retrieved 23 January 2019.
  7. ↑ "Alchemist issue 77" (PDF). LBMA. Retrieved 4 September 2019.
  8. ↑ "Baird & Co website, About Us".
  9. ↑ "Hot 100 2012 – 2: Baird Investments - Real Business". Hot 100 2012 – 2: Baird Investments - Real Business : Real Business. 5 April 2012. Retrieved 23 January 2019.
  10. ↑ "LBMA - Current Membership". www.lbma.org.uk. Retrieved 23 January 2019.
  11. ↑ TWK. "Fast Track". Fast Track. Retrieved 23 January 2019.
  12. ↑ TWK. "Fast Track". Fast Track. Retrieved 23 January 2019.
  13. ↑ TWK. "Fast Track". Fast Track. Retrieved 23 January 2019.
  14. ↑ "Hot 100 2013 – 3: Baird Investments - Real Business". Hot 100 2013 – 3: Baird Investments - Real Business : Real Business. 6 June 2013. Retrieved 23 January 2019.
  15. ↑ "Hot 100 2012 – 2: Baird Investments - Real Business". Hot 100 2012 – 2: Baird Investments - Real Business : Real Business. 5 April 2012. Retrieved 23 January 2019.
  16. ↑ "Rhodium Beating Platinum to Palladium on Car Sales: Commodities". Bloomberg.com. 28 February 2013. Retrieved 23 January 2019.
  17. ↑ "Rhodium: the niche alternative to gold". MoneyWeek. 26 April 2018. Retrieved 23 January 2019.
  18. ↑ "Have you considered Rhodium?". Gold Bullion Australia. 4 June 2018. Retrieved 23 January 2019.
  19. ↑ "Baird and Co Limited known as Bairdmint «" . Retrieved 23 January 2019.

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