CMI Gold & Silver Inc.
(Cmigs) is one of the oldest precious metals bullion dealers in the United States. The company is headquartered in Phoenix, Arizona where it was organized in 1973 to sell various forms of .999 fine silver bullion to individuals as hedges against inflation. When Americans regained the right to own gold January 1, 1975, Cmigs added gold bullion coins to its line of products.
Although the raging inflation of the 1970s sprained many silver bullion dealers, only Cmigs survived the Reagan years, when inflation was brought under control, as a pure bullion dealer. Other dealers either went out of business or started promoting numismatic and collectible coins.
Initially, Cmigs sold its own line of silver bullion products, which included 100-oz, 50-oz, 25-oz and 10-oz .999 fine silver bars and 1-oz .999 fine silver rounds. As the market matured, large refineries such as Johnson Matthey
, began producing bullion products, and Cmigs dropped its line in favor of Johnson Matthey and Engelhard products, which remain the standard .999 fine silver bullion products sold today.
After Americans regained the right to own gold bullion in 1975, South African Krugerrand
gold coins became the most successful modern gold bullion coins ever, and Cmigs added Krugerrands to its line of products. Although, Krugerrands are no longer imported into the United States to meet the demand for bullion coins, Krugerrands from the secondary market
remain one of Cmigs... Read More