Richard Rubin, founder and president of Republic Metals Corporation, started in the precious metals refining business in 1975 as a partnership in Precious Metals Reserve Inc. The partnership was later dissolved, and in 1980 Richard founded Republic Metals Corporation (RMC).
The initial investment into the new venture was $2,500. The money was used to purchase laboratory equipment, glassware and a furnace. Initially, the refining lots were small – around 50 to 100 ounces at a time. Customers served by Republic Metals Corporation included members of the jewelry, dental, electronics, telecommunications and pharmaceutical industries. RMC was proficient in refining a range of materials, from low-grade recyclables to higher-grade scrap.
As electronics products became lighter and smaller, RMC placed an increased focus on procuring high-grade material to feed its refinery. The rapid success Republic Metals Corporation enjoyed with its newfound focus led to a significant milestone in the company’s history. In 1990, Mr. Rubin built a 40,000 square foot facility located at 12900 NW 38th Avenue in Miami. Subsequent years led to steady growth in refinery throughput, backed by advanced research & development, and also the implementation of advanced refining circuits.
In 2005, Republic Metals Corporation opened two facilities in the heart of the Jewelry Districts of both New York City and Los Angeles. Both locations were designed to be facilities where precious metals melting & sampling could occur. Material processed in either New York or Los Angeles is sent nightly to Miami for further refining. The two locations serve as distribution centers of gold and silver products for jewelry manufacturers and casters.
Today, RMC is a full-service precious metals company, capturing vertical markets both domestically and abroad. In 2009, RMC2 was formed to service SMB (small-mid size businesses) in the precious metals industry. Its level of service, attentiveness to its clients, and maximum return values has created a buzz in the industry - "a primary refiner for the little guy." Future plans call for the launch of RMC-COEX (Republic Metals Coin Exchange), the expansion into the adjacent warehouse (75,000 square feet), and significant increases in mining business.