Metals House trades physical precious metals, consisting primarily of gold and silver, to arbitrage the pricing spreads between physical precious metals as commodities and physical precious metals as currencies. Metals House operates as the principal and retains clear title to all physical precious metals purchased. Metals House does not earn revenues by speculating on future gold and silver market prices. Revenues are consistently generated by arbitraging spreads that exist in various aspects of the physical gold and silver trade. Metals House's revenue streams consist primarily of dore bars, bullion, scrap metal and minted coins. Metals House verifies the purity of precious metals in an in-house laboratory before refining into good delivery bars and minted coins for sale to clients worldwide.