Nadir Metal: The Story of the Turkish Silver Refinery
Behind the Nadir Metal silver bars that GOLDU offers as an affordable way into investment silver stands a Turkish refinery whose story began in a small workshop processing jewellery waste. In this article we look at how it grew into one of the leading precious metals refineries.
1967: a 150 m² workshop
The company’s history goes back to 1967, when Nadir Tütüncü founded a workshop of just 150 m² in Istanbul, focused on recycling waste from jewellery production. From 1975 he also began refining material for the market, which required the business to expand.
1985: trading in Istanbul’s Grand Bazaar
In 1985 he founded Nadir Trading and began trading precious metals directly in Istanbul’s famous Grand Bazaar – one of the oldest and largest covered markets in the world.
1993: Turkey’s first gold and silver refinery
Growing demand led in 1993 to the founding of Nadir Refinery – the very first gold and silver refinery in Turkey.
2011–2012: LBMA Good Delivery accreditation
A key milestone came in 2011, when Nadir Metal became the first Turkish company with LBMA Good Delivery accreditation for gold. A year later, in 2012, it obtained the same accreditation for silver. What this certification means and why it matters to buyers is explained in the article What is the LBMA and Good Delivery certification.
Nadir Metal at GOLDU
At GOLDU you will find Nadir Metal silver bars in three weights – 1 oz, 20 g and 100 g. Thanks to silver’s lower unit price compared with investment gold, they are a popular first step into precious metals – how to build such a portfolio is described in the article How to build your first gold and silver portfolio, and when silver pays off in the article Investment silver: when it pays off.
Frequently asked questions
Is Nadir Metal a reliable manufacturer, even though the name is less well known?
Yes – LBMA Good Delivery accreditation for both gold and silver is an independent guarantee of compliance with strict international standards of purity and traceability, regardless of how well known the brand is among consumers.
Does Nadir Metal also make gold products?
Yes, the refinery also processes gold and has been an LBMA-accredited gold refinery since 2011; GOLDU currently offers mainly the brand’s silver bars.
Where is the refinery based?
In Istanbul, where the company’s roots go back to the original workshop of 1967.
Related articles
- Nadir Metal 1 oz silver bar: an affordable way into investment silver
- Rand Refinery: the refinery behind the Krugerrand
About the author
Adolf Baumann, analyst at Baumann Group a.s. (GOLDU), has been working with precious metals for over 30 years. He has seen euphoria, crashes and panic on the markets – and he still enjoys it. He explains in plain language what moves the price of gold and silver and how to handle them without unnecessary mistakes. His weakness? He refuses to wear a suit.
