Kenneth W. Dougherty

Precious Metals Exchange, Corp. (PRMX) purchases unwanted or broken jewelry and other items containing precious metals from customers in the U.S., Canada and Latin America. They identify potential customers with its in-house direct marketing tools and online advertising, and use its proprietary web-based CRM interface to earn their business. The firm CRM tool automatically handles customer needs while providing them with a safe and secure way to account for customers' items and give them a top offer based on real time precious metal prices. Their processing partner refines the material they purchase and assays and determines the actual pure gold content. They make their profit from the margin between the price paid for the materials and market or 'spot' price of the precious metal content. They're also proud that its business is based on recycling and repurposing unwanted or broken customer precious metal items. Its business keeps gold and other precious metals in use, without the environmental and other costs (and risks) associated with traditional mining activities. The price of gold has increased over fifty percent in the last year, reaching record highs that the market has not seen since the late seventies. The current high price of gold, combined with the economic downturn over the past several years has led to a dramatic increase in the number of people who want to cash in their gold or other precious metal items.