Johnson Matthey, Engelhard, and Privately Minted Silver Bars
For those very familiar with silver bullion, the names Johnson Matthey and Engelhard might ring a bell. For those not familiar, here is a primer: Johnson Matthey and Englehard are two companies that have set the standard for producing privately minted silver bars during a time when many governments around the world were no longer including gold and silver in their coins. Each company has a long history and, although they no longer produce those items that were once the standard for bullion investors, their significant place in history remains.
Johnson Matthey
Established in 1817 in London by Percival Norton Johnson with the equivalent of $15,000 in today’s dollars, Johnson Matthey began as assayers, testing the purity of a variety of precious metals. By 1852, the company was appointed as the official assayer and precious metals refiner to the Bank of England. In addition, the company was also responsible for the manufacturing of the first standard meter and kilogram in a platinum-iridium alloy, which are still in use today.
By the twentieth century, Johnson Matthey began making silver bars in the United Kingdom. Because these bars became increasingly popular in North America and around the world, the company opened refineries in Utah and Ontario. The company no longer produces silver bullion for investors but operates in industrial metals, chemicals, and other pursuits.
Engelhard
Began in 1902 in New Jersey, Englehard was established by German immigrant
Charles Englehard as a refiner of platinum for industrial use. Their work in this area led to the creation of the very first catalytic converter, an exhaust emission control device used on automobiles. The company continued its growth during the twentieth century and after Englehard’s death in 1950, his son, Charles Englehard, Jr., expanded the business to South Africa, South America, and Europe. In fact, Charles Englehard, Jr. was such a powerful businessman in precious metals, it is said that Ian Fleming, the creator of the James Bond character, used him as the inspiration for his character Auric Goldfinger in the novel and subsequent movie Goldfinger.
In 2006, Englehard was purchased by the German company BASF, the largest chemical producer in the world, and no longer focuses on precious metals bullion bars.
Although these two companies have evolved into entities that have a very different focus today, each has solidified its place in the history of precious metals.
The bars produced by Johnson Matthey and Englehard are scarce and in high demand. Because of this, they can carry a high premium compared to other precious bullion. Currently, a 100 oz Johnson Matthey Silver Bar can be purchased from Metals.com while supplies last.
The Metals.com Staff
