Tavex

What Tavex does

Tavex is a Northern European precious-metals dealer and currency-exchange operator founded in 1991 in Tallinn, Estonia, by Alar Tamming, originally as Tavid AS (a video-rental business that pivoted to foreign exchange in 1992 and then to investment gold in 2004). The group serves approximately 1.9 million clients annually across 14 countries — Norway, Sweden, Denmark, Finland, Estonia, Latvia, Lithuania, Poland, Great Britain, Bulgaria, Romania, Hungary and Serbia (plus money-remittance services to the Philippines) — through more than 30 physical retail offices and a proprietary e-commerce storefront at tavex.no. The Norwegian operating entity, Tavex Gull og Sølv AS (founded 2011, headquartered in Lillestrøm, organisation number 913 336 976), is a wholly-owned subsidiary of the Estonian parent Tavid AS; the group employs approximately 250 people. The company also operates TavexWise AS, a payment-institution subsidiary that handles money-remittance and currency-exchange services under Estonian Financial Supervision Authority oversight.

The core product lines are physical investment gold, silver, platinum and palladium coins and bars (e.g., Austrian Philharmonic, Canadian Maple Leaf, Australian Kangaroo and Koala, British Britannia, South African Krugerrand, Lunar series), refinery bars from PAMP Suisse, Valcambi, Heraeus and Metalor, and Norwegian 1500-kroner commemorative coins, priced at a premium over live spot prices via Refinitiv's real-time feed. The proprietary Tavex ID account platform (launched 2024) provides customer portfolio tracking, price alerts, automated price bots, transaction history and fast re-ordering with one-time-password email authentication. The Tavex Live Charts tool (2025) provides real-time multi-currency XAU/XAG charts, and the Five/Ten/Fifteen Kangaroo investment packages (2025) bundle 1 oz Australian Kangaroo coins at discounted per-gram premiums. The technology stack runs on AWS (Application Load Balancer) and integrates Trustly/BankID, Visa/Mastercard and BankAxept payments, Bring shipping, Google Analytics, CartStack cart-recovery, OptinMonster lead capture and Facebook advertising pixels.

Tavex earns revenue primarily through buy/sell spreads on precious metals (margin embedded in the per-unit premium over the live spot price), currency-exchange bid-ask spreads across its branch network, ancillary per-transaction fees (tiered shipping, 2% credit-card surcharge, 5% foreign-card surcharge) and a wholesale/reseller arm supplying B2B buyers. Go-to-market is multi-channel: physical retail offices, the tavex.no e-commerce storefront, and a wholesale supply arm. Customers are segmented into private retail investors (primary), coin collectors and numismatists, resellers and wholesale buyers, and buy-back customers liquidating owned precious metals or exchanging foreign currency.

Name

Tavex

Legal name

Tavex Gull og Sølv AS

Website

https://tavex.no

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

1–10 employees

Short description

Tavex is a Northern European precious-metals dealer and currency-exchange operator serving approximately 1.9 million retail and wholesale customers annually through 30+ offices in 14 countries and a proprietary e-commerce platform, offering investment gold, silver, platinum and palladium products sourced directly from sovereign mints and LBMA-accredited refineries.

Ownership category

akta.pro rank

Product category

Precious Metals Retail

NAICS

Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (42394), Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (423940)

SIC

Wholesale-Jewelry, Watches, Precious Stones & Metals (5094)

akta.pro primary industry

Precious Metals Minting & Bullion Products (IMAKAEAJ)

Keywords

• Precious metals retail
• Investment gold coins
• Investment silver bullion
• Currency exchange services
• Bullion dealer

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices17 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Buy/sell spread on precious metals: Core revenue stream: Tavex purchases bullion and coins directly from sovereign mints and refineries (Perth Mint, Austrian Mint, PAMP Suisse, Royal Mint, Rand Refinery, etc.) and resells to retail customers at a premium over the live spot price, with margin embedded in the price per unit. Each transaction is one-time / per-sale rather than recurring.
2. Currency exchange spread: Foreign-currency exchange services offered across offices, generating revenue from the bid-ask spread on currency conversion. Documented price-policy rules including 2% surcharge on credit-card payments and 5% surcharge on foreign-card transactions.
3. Shipping and ancillary transaction fees: Additional per-transaction revenue from tiered shipping fees, payment-method surcharges (2% credit card, 5% foreign card), and volume-based pricing tiers for bulk bullion orders.
4. Wholesale / reseller supply of precious metals: Tavex Group acts as a supplier to resellers and wholesalers in addition to end-investors, generating bulk transaction-based revenue from B2B precious-metals distribution leveraging its mint/refinery sourcing.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Tavex buys physical investment-grade gold, silver, platinum and palladium coins and bars directly from sovereign mints and LBMA-accredited refineries (Perth Mint, Austrian Mint, PAMP Suisse, Valcambi, Royal Mint, Rand Refinery, Heraeus, Metalor, China Great Wall Coins Investments) and resells them to retail and wholesale customers at a premium over the live spot price, both through a proprietary e-commerce storefront (tavex.no) and through 30+ physical offices in 14 Northern and Central European countries. The group also operates foreign-currency exchange, a buyback service for owned precious metals, and money remittance under the TavexWise payment-institution licence.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Gold Physical investment gold coins and bars (Philharmonic, Maple Leaf, Kangaroo/Nugget, Britannia, Eagle, Buffalo, Krugerrand, Lunar, 1 kg coins) priced against the live XAU spot feed from Refinitiv, with a Best Price Guarantee against other Norwegian investment-gold dealers. Sold online and through 30+ retail offices across 14 countries.
• Investment Silver Physical investment silver coins and bars (Austrian Philharmonic, Australian Kangaroo, Koala, Kookaburra, Canadian Maple Leaf, Britannia, American Eagle, South African Krugerrand, Lunar series, 1 kg silver coins) priced against the live XAG spot feed from Refinitiv, with volume discounts and a compare-products tool.
• Investment Packages (Five / Ten / Fifteen Kangaroo) Pre-assembled multi-coin gold investment bundles based on 1 oz Australian Kangaroo gold coins in 5-oz, 10-oz and 15-oz pack sizes (155.5 g, 311 g and 466.5 g of pure gold), offered at a discount versus single-coin pricing and aimed at both beginner and advanced investors seeking diversified physical-gold exposure with maintained per-coin liquidity.
• Sell Gold / Sell Silver (Buyback Service) Tavex's precious-metals buyback service allowing customers to sell gold and silver coins, bars, jewellery and scrap to Tavex in-store at Lillestrøm, Stavanger and Hønefoss, by insured mail using the Tavex Gold Package, or by self-arranged shipping. Items are tested with an XRF machine and payouts are processed the next business day.
• Tavex ID Account Service Free Tavex ID account and portfolio service giving users a secured investment portfolio view, order history, custom charts, price alerts, automated price bots, and fast re-ordering. Authentication is via email plus one-time-password at login.tavex.eu and supports demo and real portfolio modes.
• Tavex Live Charts (Gold & Silver) Real-time web charts for gold (XAU) and silver (XAG) priced across multiple fiat currencies (EUR, USD, NOK, SEK, DKK, GBP, CHF, CZK, HUF, PLN, RUB and others), with selectable timeframes (24h to 10 years), line/candlestick views and ounce/gram/kilogram units, drawing on the Refinitiv data feed.
• Currency Exchange (Forex Dealing) Foreign-currency buying and selling offered across Tavex offices, including currency pricelists and live charts for currency pairs (USD, EUR, GBP, SEK, DKK, etc.), performed under the TavexWise payment-institution licence with documented price-policy rules including a 2% surcharge on credit-card payments and 5% surcharge on foreign-card transactions.
• Norwegian Commemorative Coins Selection of Norwegian 1500-kroner commemorative gold coins issued by Norges Bank, including Centenary coins (No. 1-3), the Nobel coin, the Millennium coin, the World Cycling Championships coin and the Edvard Grieg coin, sold as 1/2 oz, 22-karat gold pieces with a 1500 NOK face value.
• Money Remittance (TavexWise) Cross-border money remittance services operated under the TavexWise payment-institution licence (originally issued to parent Tavid AS by the Estonian Financial Supervision Authority under the Payment Institutions and E-money Institutions Act), including remittances to the Philippines via the TavexWise trademark.

Quantifiable outcome

• Approximately 1.9 million clients served annually
• +2 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered flagship and core.

• Perth MintflagshipStrategic or Co-development PartnerPerth Mint is one of Tavex's primary bullion sourcing partners. Tavex sells Perth Mint products (Australian Kangaroo, Australian Koala, Australian Lunar series) to retail and wholesale customers across its Northern and Central European network. The relationship gives Tavex access to government-mint gold and silver coins.
• Austrian Mint (Münze Österreich)flagshipStrategic or Co-development PartnerAustrian Mint is a key supplier for Tavex's Austrian Vienna Philharmonic gold and silver coin offerings (including 2025 editions). Tavex sources directly from the Austrian Mint to sell to retail customers across Europe.
• PAMP SuisseflagshipStrategic or Co-development PartnerPAMP Suisse is a refinery partner supplying Tavex with precious-metals bars and coins. Direct sourcing from PAMP supports Tavex's best-price guarantee and authenticity assurance.
• ValcambicoreStrategic or Co-development PartnerValcambi is one of Tavex's precious-metals refinery partners, providing bars and bullion products. Tavex sources from Valcambi for distribution to retail and wholesale customers.
• Royal MintcoreStrategic or Co-development PartnerRoyal Mint is a sovereign-mint supplier for Tavex, providing British Britannia coins and other UK-mint bullion products distributed across Tavex's European retail and online channels.
• Rand RefinerycoreStrategic or Co-development PartnerRand Refinery is a South African precious-metals refinery partner, supplying Tavex with gold and silver products including Krugerrand coins. Sourcing relationship supports Tavex's product breadth.
• China Great Wall Coins Investments Ltd.coreStrategic or Co-development PartnerChina Great Wall Coins Investments is one of Tavex's mint/refinery partners, providing access to Chinese-mint precious-metals coins and bullion products distributed to European customers.
• HeraeuscoreStrategic or Co-development PartnerHeraeus is a precious-metals refinery supplying Tavex with gold, silver and other bullion products for resale through Tavex's retail and wholesale channels.
• MetalorcoreStrategic or Co-development PartnerMetalor is a precious-metals refinery and mint supplying Tavex with investment-grade bars and coins for distribution to retail and wholesale customers.
• RefinitivcoreTechnology or IntegrationRefinitiv provides Tavex with real-time spot-price data feeds for gold, silver, platinum and palladium that drive live charts and product pricing on the tavex.no storefront.

Scale indicators6 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• GoldMoney: GoldMoney is an online precious-metals platform offering allocated physical bullion, vaulting and redemption services to retail investors globally. It overlaps with Tavex's online bullion-and-storage value proposition and targets similar private-investor demand, though without a physical-branch footprint.
• BullionVault: BullionVault is the largest online bullion-trading platform, allowing retail investors to buy, sell and store allocated physical gold, silver, platinum and palladium. It competes with Tavex for the same private-investor demand but through a pure-online, allocated-storage model rather than physical retail branches.
• Pro Aurum: Pro Aurum is a major German precious-metals dealer operating multiple retail branches plus a strong e-commerce platform, with direct mint relationships and a similar mix of investment gold/silver bars and coins. Highly comparable to Tavex in product mix, customer base and multi-channel model.
• CoinInvest.com: CoinInvest.com is a German-based online precious-metals dealer selling gold, silver, platinum and palladium coins and bars sourced from leading mints. It competes with Tavex's e-commerce storefront on European online precious-metals demand.
• Degussa Goldhandel: Degussa is one of the largest precious-metals retailers in Germany and continental Europe, with multiple physical branches, a full e-commerce storefront, and direct mint/refinery sourcing. It is the closest direct competitor to Tavex in terms of multi-country physical retail + online precious-metals distribution in Europe.

Broad incumbents

• APMEX: APMEX is one of the largest US precious-metals e-commerce retailers, offering a comprehensive catalogue of coins and bars from global mints. While US-focused, it competes for pan-European online bullion buyers and is broadly comparable to Tavex in scale of catalogue and direct-mint sourcing.
• Kitco: Kitco is a Canadian-based precious-metals retailer, refiner and market-data provider, with a global online bullion storefront and live spot-price feeds. It overlaps with Tavex on retail bullion sales and live spot-price content and is a broader incumbent in the same global category.

Regional players

• Baird & Co: Baird & Co is one of the UK's largest precious-metals traders, with both retail and wholesale operations and an online storefront. It is a UK-focused equivalent to Tavex's British subsidiary and competes in the same British precious-metals retail market.
• Sharps Pixley: Sharps Pixley is a UK precious-metals dealer (now part of the Enoch family of companies) selling investment gold, silver and platinum via online and physical channels. It competes with Tavex's London branch in the British retail-bullion segment.

Others

• Heraeus: Heraeus is one of the world's largest precious-metals refineries and a key mint/refinery supplier to Tavex. It also operates a direct retail and investment-products arm, making it both an upstream supplier/partner and an adjacent competitor in European precious-metals distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tavex