In the last edition of the Alchemist we announced the admission of Geiger Edelmetalle as an Affiliate Member. In this new feature, we catch up with Oliver Heuschuch, Director of Geiger Edelmetalle, to find out more about the company, including its role within the precious metals market and its reasons for wanting to join LBMA.
Five questions, five answers
What were the reasons for you wanting to join LBMA and what do you see as the key benefits of membership?
LBMA is the recognised authority in the gold and silver market, and defines the framework for quality and rules of conduct. In recent years, we have been increasingly approached by customers to become a member of the organisation.
Tell us about your company’s role in the precious metals market?
Geiger Edelmetalle AG has been active in the precious metals market since it was founded in 2008. Today, we employ more than 100 people. Within the Geiger Group, we see ourselves as a manufacturer of coins, medals and bars, as well as a manufacturer of individual precious metal products according to customer requirements. We offer storage solutions for individuals, other gold dealers and banks. We also operate a bonded warehouse at our headquarters. On the sales side, we operate four sales outlets for physical products in Germany and Switzerland, each with corresponding safe-deposit capacities. In Germany, we are also the largest operating and processing company for gold savings plans.
Arche Noah Gold Bullion
What’s the background and history of the company?
Geiger Edelmetalle AG is a 100% family-owned business. The founder, Adalbert Geiger, originates from southern Germany, where his family has been making silver goods in the city of Schwäbisch Gemünd for generations. In 2007, he moved to Güldengossa, nearby Leipzig, and acquired and renovated the castle located there. The picture of the castle of Güldengossa now covers the design of the Geiger bars.
How has the Covid-19 pandemic changed your business and what lasting impacts do you think it will have on the market?
Before Covid, our company was used to working with one shift per day. In order to reduce staff infection risks, and cope with an enormous increase in manufacturing orders, we started to think in terms of a multi-shift system in production.
What are your future plans for the business in the future?
The further expansion of the coin and bar production capacities is currently our strongest goal. We have implemented the largest investment programme in the company’s history. In addition, we have built a completely new gold and silver refinery.
We have implemented the largest investment programme in the company’s history.