Sun, 10/29/2023 - 01:28

Bulgaria's only private mint is set to become a global leader


Smart people already know that investing in gold and silver is one of the best ways to protect their money from inflation and to secure their and their families' future. In the past couple of years, the name of one Bulgarian company has become a symbol of quality investment bullions and other gold and silver products for everyone in the know.

Bulmint is Bulgaria's first and only private mint, and since 2019 it has been a reliable partner to individual investors, mines, traders and local and international mints. Its portfolio of products contains the most popular options for investors – from coins and medals to bars. What makes Bulmint's offers different, however, is that all of them are made in the company's highly technological factory based in Plovdiv.

The quality of Bulmint’s produce is so high, and the volumes are so large that the dream of its founders to grow the company into a global leader are not just dreams. They are an actual plan for future development.

The beginnings of this amazing company have little in common with its current field of activities. Bulmint started in 2004, in Plovdiv, when a young engineer, Plamen Zapryanov, and the more experienced Associate Professor Ivan Panov, PhD, established Targets, a company producing precious metals for use in other industries. However, the market was limited and the 2008-2009 crisis almost killed the company.

Then, Mr Zapryanov met someone who would become a trusted partner, Vladimir Spasov, a man with significant experience in finance. He recognised Targets's potential as a precious metals processing base with some of the best equipment in the world, and transformed it into a producer of workpieces for bullions. Initially mints seemed uninterested in ordering blanks from a new player on the market – the business is a conservative one and it is hard to break established business relations. Then, Targets got lucky – it won a deal with the Bulgarian National Bank for providing it with workpieces for its own bullions.

Bulmint managers: Vladimir Spasov (left) and Plamen Zapryanov

This step was crucial, but was not enough to secure the company's sustainability. In this industry real profits come not from making workpieces, but when you mint your own coins and control your own resources, supply chains and logistics. In 2017-2018, the company changed its focus again and started producing finished products – investment medals. Soon afterwards, it changed its name to Bulmint, and in just a couple of years became a leader on the local market.

The numbers speak for themselves – in 2019 Bulmint's turnover was a little bit over 17 million leva. In 2023 it is projected to reach 1 billion leva. The company works with the best international technologies and machines, has opened an office in Peru to secure faster access to resources, has its own logistics and a monthly capacity to process over 200 tonnes of silver and 100 tonnes of gold. It is also planning to open offices in Europe, starting in Germany.

Bulmint's production is certified by the international certification organization TÜVRheinland under the quality management system ISO 9001:2015. The company is the only Bulgarian firm that is a member of the international Responsible Jewelry Council (RJC) – a leading standardization body in the global precious metals and gemstones industry.

The future of Bulmint is bright. Be a part of its success: you can purchase Bulmint's products from its website or its showrooms in central Plovdiv and Sofia.

Showroom Plovdiv: 24 Otets Paisiy St, phone: +359 884 091 927, plovdiv@bulmint.com

Showroom Sofia: 1 Oborishte St, phone: +359 884 136 295, sofia@bulmint.com


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