Founded in 1951 in Chiasso under the name Argor, its name is a contraction of the words silver and gold. In 1973, the company was 100% owned by the Union de banques suisses (which later became UBS) In 1988, it relocated to Mendrision and in 1999, it was re-acquired by Heraeus (Hanau, Germany). The refinery is owned on a four-way basis by Heraeus Holdings GmbH, Commerzbank International SA, the Austrian Mint, and its Board of Directors.Argor-Heraeus exercises strict controls on the incoming commodity and original certification of the precious metal. Argor-Heraeus is on the list of good suppliers established by the London Bullion Market Association (LBMA); thus it meets high quality standards. Their gold bars may be negotiated without restriction. Argor-Heraeus is also a supplier on most physical gold trading centers, such as LME (London), TOCOM (Tokyo), COMEX/NYMEX (New York), and DMMC (Dubai). Thanks to the best technologies at Argor-Heraeus SA’s foundry, gold can be melted down with continuous casting processes in addition to traditional casting by rocking and pusher furnaces. With a strong Swiss identity, Argor-Heraeus is one of the world’s oldest refiners of Precious Metals. Each cast bar is individually numbered and stamped with the weight and .9999 fine Gold purity.