La Compagnie des Métaux Précieux (CMP) was founded in 1935. Located in the suburbs of Paris, it produced gold and silver bars until the late 1980s.
In September 1935, the firm S. Silberfeld & Cie, in partnership with the Swiss Bank Corporation (SBS), established CMP in Paris. Prior to that, a collaboration already existed between SBS, Silberfeld, and the London-based firm Mocatta & Goldsmid. The initiative to found CMP came from Silberfeld, with the aim of formalizing and structuring this cooperation.
SBS held between 40% and 50% of CMP's capital, allowing it to expand its operations in the French market.
From the outset, CMP was equipped with an electrolytic refining system, enabling it to compete with established companies such as Degussa. At that time, historical players like Caplain Saint-André lacked modern infrastructure and export capabilities, while other firms—such as Comptoir Lyon-Alemand and Marret, Bonnin, Lebel et Guieu—were struggling with serious management and financial issues. In this context, CMP emerged as the only gold refiner with solid financial foundations during that period of crisis.
Kodak, among others, sourced its silver nitrate from CMP.
In 1984, CMP was acquired by the American company Engelhard, a specialist in platinum and gold refining, founded in 1902 by Charles Engelhard, a metal broker of German origin who emigrated to the United States in 1891.
From that point on, the pure gold bars produced by CMP were accompanied by an assay certificate bearing both names: CMP – Engelhard.
On December 5, 1989, CMP permanently ceased its own gold bar production. These bars, now rare, have become sought-after collector’s items.
