Wyoming
Casper Gold And Silver Production Facility Makes Money For 20 Foreign Governments
CASPER — Just across the North Platte River on the northwest side of town in the old newspaper building, a Wyoming version of Fort Knox is being born.
Cement trucks are going in and out, workmen are busy placing rebar, and on the other side of the building parts for a state-of-the-art world-class secure vault are waiting to be assembled. When work is done, the building will have gun ports and cameras at many angles to meet the security expectations of a Lloyd’s of London insurance policy.
Welcome to the Scottsdale Mint, which is in phase two of a nine-phase plan to turn the former Casper Star-Tribune building into a world-class gold and silver production facility.
President and CEO Josh Phair said operations began last summer, and by the end of this year between 50 and 100 people will be working to create precious metal rounds, bars, official national coins and more.
Producing Legal Tender
And that’s why all the expense and work is being put into turning the mint into the city’s most secure place.
“We produce for more than 20 foreign governments and central banks,” he said. “So, we are actually producing legal tender right here in Casper, Wyoming, and ship it all around the world.”
Despite the construction, rooms for melting equipment, tool-and-die operations, stamping, offices and two working vaults are in place and filled with people. An armed guard scans people going in and out. After more than 20 years operating out of Scottsdale, Arizona, Phair said Scottsdale Mint operations will be centered in Casper.
With the shaky world economy, wars in the Ukraine and Middle East, and a divided market where the dollar is being undermined as the world’s reserve currency, demand for Scottsdale’s products have been booming.
That boom started in 2020, during the pandemic.
Phair said the company he began out of his guest bedroom in 2008 and expanded in 2011, then needed to grow again from the two buildings the mint had in Scottsdale. Californians had moved into the Phoenix region and there were no commercial buildings available to expand into less than an hour away.
Sell Or Expand?
He was also getting requests from people who wanted to by the company, and Phair spent some time deciding what he would do.
“I had to make a decision. Do I sell it, or take it to the next level?” He said.
He settled on the latter and started looking for where the company could relocate. Initial searches had him looking beyond the nation’s borders to “free port” areas in Switzerland and Panama that would allow the company to accomplish its international role with some advantages.
The he turned his eyes to elsewhere in the U.S. to states with pro-business laws and “sound money” practices. He learned Wyoming ranked at the top, and that the state passed a legal tender bill a few years ago.
“I wouldn’t be here if that law wasn’t passed,” he said.
Once he toured the former newspaper building, Phair said he knew it would be the mint’s new home, but there would be work to do. Phair said they basically gutted the building and have installed new plumbing, electrical work and air handling systems.
The Vault
There is a 30-by-30-by-15-foot vault with the more than a foot-thick door that now holds some gold and silver items, but there are bigger plans for it in the near future.
“What you are looking at here is the highest rated vault in the world that you can get,” Phair said. “The class three vault is built for billions of dollars. It will be for high-net-worth people who want to put valuables away, also for business-to-business (valuables) and sovereign wealth.”
In a separate vault for production items, Phair shows coins minted for Samoa, Fiji and the Cayman Islands. One coin has the likeness of the late Queen Elizabeth of England.
“We’ve had projects personally signed off by Queen Elizabeth,” he said. “We did a coin a few years ago for Gibraltar. It was the Royal Arms of England (and) … it went to Buckingham Palace for her to sign off on.”
In addition to his work for governments, the mint produces several artistic rounds sought by collectors, as well as gold and silver art pieces. Future plans call for jewelry to be added to the company’s product list.
The Cowboy Round
One hot seller is a cowboy round. That came as an idea to honor the company’s past and future.
“We have a cowboy round that we launched this year, and we have sold more than the state of Wyoming’s population in the last six months,” he said. “The city of Scottsdale has a bucking bronco on the city emblem, and obviously Wyoming has a lot of cowboys on the license plates.”
The company designed the three-dimensional image in-house and included the rays from Arizona’s state flag as part of the design. It added a buffalo as a small “privy” mark on the bottom right of the round’s front.
Phair said depending on the particular job and design of the coin or bar, the company makes as little as $1 on the “transactional spread.”
“On gold, it could be as thin as $1 an ounce, which is nothing,” he said of the profit margins. “If it is something much more elaborate it could be more than $100.”
A lot of the work involves volume.
“One customer alone in the past six weeks we probably did $80 million in gold,” he said.
Some of the Scottsdale Mint’s gold bars use color in their design. The mint employs artists, engineers and others to get creations from an idea to the shipping room. A typical project would take six months before production begins, Phair said.
Son Of A Pastor
The 44-year-old Phair was born in South Dakota and raised there and in Florida. His father was a pastor. After college in 2022, he arrived in the Phoenix area to do risk management.
“When I was 24 years old, I landed a $4 billion gold mining company out of Reno and I started handling the insurance and risk management for about a dozen publicly traded mining companies. So I was in Denver, Coeur D’Lane, and Phoenix handling copper, silver, and gold producers and fell in love with minerals,” he said.
In the bullion business, he saw an opportunity for a high-quality brand. After starting his business in a guest bedroom, he learned that the company using precious metals to make screen material for Apple iPads wanted to sell its manufacturing operation.
“So, I bought the division, and moved it out of Albuquerque to Scottsdale,” he said, emphasizing that success did not happen overnight, but the company has worked to fulfill its motto to be “the most distinguished name in bullion.”
Phair defers questions about the value of the company. It’s privately held and he points to his customers and the company’s reputation in the world for its value.
“I like to say we do billions. Numbers sometimes get really big in our industry,” he said. “I would say we are among the top five mints in the world. I don’t think there is another mint that mints for more countries than us.”
President And ‘Conductor’
As president of the company, he likens his role to a conductor of an orchestra and calls the company a mix of science, engineering and art.
“I’ve got an artistic bone. I can’t hum, I can’t draw, but I know what looks good,” he said. “I think that has played a role in building the brand. And I love to find brilliance. I couldn’t do this without the staff of people from the top to the bottom of the organization.”
There are a lot of future plans for the business in Casper, one that involves the big vault and new company based out of the mint location. When the building is completed, Phair envisions a gallery for art, and a place for digital investments that are tied to a value of something tangible in the vault.
He hopes to take advantage of Natrona County’s free trade zone status and appreciates the fact he, his wife and two children are now living in the center of Wyoming.
Because the company does so much international business, he frequently travels the world and has been to Europe, Dubai, Singapore and the Caymans, as well as many other small island designations.
“I like coming back to Casper,” he said. “There is something about the community here that is special.”
Dale Killingbeck can be reached at dale@cowboystatedaily.com.
If you’re planning on visiting Wyoming, for a truly authentic experience, you must include at least one of the state’s awesome downtowns in your travel plans. Positioned at the southern end of the 60-mile-long valley known as Jackson Hole, the character-rich town of Jackson is one such place to consider. A wonderful place to explore on foot, Jackson’s unique downtown, with its Old West vibe, spreads out from the intersection of Broadway and Cache Street. While it consists of just a few blocks, it is jam-packed with fun things to do, no matter what time of year you visit. Its impressive elk arch makes for an excellent photo opportunity, while the charm of its Old West heritage exudes from the historic buildings, cowboy-themed bars, and art installations across town. The wild past also comes to life in Jackson during the Jackson Hole Shootout at the Town Square, a tradition that has endured since 1957.
Town Square And The Elk Antler Arches
Though Jackson’s Central Park is officially known as George Washington Memorial Park, locals and visitors alike prefer to call it Town Square. Dedicated in 1934, this centrally located public space occupies the block at Broadway and Cache and is famous for the elk antler archers set at each of its corners.
Made entirely from naturally shed elk antlers, the first arch was erected by local Boy Scouts and Rotary Club members in 1953, with the other three added a few years later. Each consists of around 2,000 antlers collected from the nearby National Elk Refuge and is among the most photographed landmarks in Wyoming.
For a truly memorable experience, try to time a visit to coincide with ELKFEST. Held in May, this community-wide celebration attracts visitors from across the country for events like the Mountain Man Rendezvous, a reenactment of the state’s early fur trading years.
The main event, though, is the highly anticipated Elk Antler Auction. Bidders from far and wide turn up at Town Square to purchase antlers, which are then used to make everything from furniture to jewelry (proceeds going back to the Elk Refuge).
Jackson’s Cowboy Heritage
From Memorial Day through Labor Day, Town Square becomes the backdrop of the famous Jackson Hole Shootout. This fun (and free) mock gunfight has been entertaining visitors since 1957 and includes several costumed outlaws and lawmen shooting it out (with blanks, of course). You can add to the experience by hopping aboard the Jackson Hole Stagecoach, a ride aboard a century-old coach that loops around downtown.
The Old West theme is evident in other spots around the downtown core, too. Steps from Town Square, the Million Dollar Cowboy Bar has been around since 1937 and is set in what was once the town’s first bank in the late 1890s. Highlights include its hand-carved bar top with silver dollars embedded in it, as well as its cool saddle barstools. Live music is regularly scheduled on the stage that has seen such legends as Willie Nelson and Hank Williams Jr. perform.
The Wort Hotel is another downtown landmark you’ll want to include in your Jackson itinerary. A local fixture since 1941, it’s here you’ll find the famous Silver Dollar Bar with its custom-made S-shaped counter inlaid with 2,032 uncirculated (and therefore rare) 1921 silver dollars. You’ll also want to check out its priceless collection of original Western art.
Other Fun Stuff To Do In Downtown Jackson
In addition to its iconic bars, downtown Jackson also boasts a world-class food scene. Highlights include Persephone Bakery, its old-fashioned stone hearth turning out delicious baked goods, including croissants and artisanal bread. Also yummy, Cafe Genevieve occupies an old log cabin and serves breakfast and lunch with a Southern-inspired menu.
Jackson’s art scene is also worth a mention. Art galleries are plentiful in the downtown area, with establishments like Astoria Fine Art and Mountain Trails Galleries, both on Town Square, featuring works by local, national, and international artists. The Center for the Arts is another cultural high point and features performance spaces, visual arts studios, and an outdoor sculpture park.
Snow King Mountain
Another unique feature of Jackson’s downtown is its proximity to some of Wyoming’s best (and certainly most accessible) ski hills. The base of Snow King Mountain is just six blocks from Town Square and has been in use since 1936, and really took off when Wyoming’s first chairlift opened here in 1946.
Dubbed the “Town Hill” by locals, Snow King now consists of 500 skiable acres, 41 named runs, three chairlifts, an eight-passenger gondola, and night skiing. In warmer months, the action shifts to a thrilling Cowboy Coaster, a zipline, a treetop adventure ropes course, and an alpine slide.
The Snow King Observatory and Planetarium is another excuse to head for the hills from downtown Jackson. Located at the summit of Snow King Mountain, in addition to its large telescope, this must-see attraction features a planetarium theater and a rooftop observation deck boasting incredible views over Jackson and the Jackson Hole Valley.
Explore Jackson’s Not-So-Wild Side
Downtown Jackson has so much to offer visitors seeking an authentic slice of Wyoming life. From its unique elk antler arches to its art galleries and cowboy culture, as well as its unique position steps from the ski hills, few towns in the USA’s Mountain Region can match the long list of fun things to do in Jackson’s downtown core.
The expansion would open the spigot for 550,000 barrels per day of crude, the company says. Although the crude would mostly pass through eastern Wyoming, the venture opens opportunities for Wyoming oil producers in the region for more transportation access to U.S. refineries and shipping ports, according to Bridger and local industry officials.“It would be the biggest project in our history, if it comes to fruition,” Bridger Pipeline spokesperson Bill Salvin told WyoFile on Friday. “We are, however, in the really early stages of the project. But we’re very excited about it.”Industry trade groups speculate the Bridger Pipeline Expansion is part of a competitive scramble to fill a gap left by TC Energy’s Keystone XL project. That company, in 2021, abandoned the controversial project in the face of major opposition and protests. It would have transported Canadian tar-sands oil into the U.S. market via a route extending through Montana, South Dakota and Nebraska. Among many challenges for Keystone XL was acquiring new rights-of-way easements. Though the Bridger Pipeline Expansion proposal requires some new rights-of-way, that’s not the case for the 210-mile Wyoming segment, according to Salvin.“All of that distance is within, or parallel to, existing pipeline corridors,” Salvin said.
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The Wyoming segment would pass through Crook, Weston, Niobrara, Goshen and Platte counties.Bridger Pipeline, a subsidiary of Casper-based True Companies, submitted a notice of intent to the Montana Department of Environmental Quality in January and noted it will formally initiate environmental applications to the agency. Salvin told WyoFile he’s uncertain about the full spectrum of regulatory requirements in Wyoming.However, the company regards the Cowboy State as a great fit for the project, he said. “This [project proposal] just highlights how important the region is and how Wyoming is a very good place for energy projects like this.”Reached for comment, the Petroleum Association of Wyoming said the proposed pipeline only stands to benefit Wyoming producers and the state.“Investments like these, along with continued growth in areas like the Powder River Basin, show Wyoming will continue to play an important role in the nation’s energy markets,” PAW Vice President and Director of Communications Ryan McConnaughey told WyoFile. “Connecting in Guernsey allows product to be transported to refining hubs like Cushing, Oklahoma.” WyoFile is an independent nonprofit news organization focused on Wyoming people, places and policy.
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LARAMIE — Nasir Meyer converted a three-point play with 35 seconds remaining to give Wyoming Cowboys men’s basketball the lead for good, and Wyoming held Air Force Falcons men’s basketball scoreless over the final two minutes to secure a 66-62 victory Saturday night.
The win marked the 13th home victory of the season for Wyoming, which improved to 16-13 overall and 7-11 in conference play.
“Air Force deserves all the credit and let’s talk about a team that has every reason not to fight, but thats why they are Air Force and the cadets and I have a lot of respect for them,” Wyoming coach Sundance Wicks said. “They were not going to quit, and I didn’t drive that message home enough and hats off to Air Force because they deserved to win. We snuck away with a win. Adam Harakow showed when we need him and he was massive for us. Simm-Marten was made big plays and Naz was clutch for us late.”
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Wyoming shot 35% from the field and went 7 of 28 from 3-point range, making just two from beyond the arc in the second half. Air Force shot 49% overall and 44% from 3, hitting eight shots from long distance. The Cowboys made 13 of 16 free throws (81%) and scored 22 points off 15 Air Force turnovers while holding a 39-36 edge in rebounding.
Damarion Dennis led Wyoming with 16 points and three assists, going 7 of 8 from the free-throw line. Meyer finished with 14 points and tied a career best with eight rebounds. Adam Harakow added 14 points off the bench on 5-of-6 shooting, his first double-figure scoring game since the first meeting with Air Force. Simm-Marten Saadi had nine points in 13 minutes, and Kiani Saxon grabbed seven rebounds.
Air Force opened with back-to-back 3-pointers to take a 6-0 lead. Meyer scored Wyoming’s first basket, and Leland Walker added a 3-pointer to make it 8-5 with 16 minutes left in the first half.
Wyoming responded with a 9-0 run over nearly four minutes, with Saadi and Harakow each connecting from beyond the arc to give the Cowboys an 11-8 lead with under 14 minutes remaining. Air Force regained a 12-11 advantage as Wyoming went scoreless for more than two minutes.
Harakow’s second 3-pointer pushed the lead to 22-16 with nine minutes left in the half, and Wyoming used a 6-0 run while holding the Falcons without a field goal for more than four minutes to build a 28-18 lead with six minutes remaining. The Cowboys closed the half on a defensive stand, keeping Air Force scoreless for the final two minutes to take a 35-25 lead into the break. Wyoming scored 15 first-half points off turnovers.
The teams traded 3-pointers early in the second half, and Air Force cut the deficit to 40-31 with under 17 minutes left before trimming it to seven 90 seconds later. Walker answered with a 3-pointer to make it 43-33 with 15 minutes to go.
Air Force used a 9-0 run during a stretch in which Wyoming went more than 3 1/2 minutes without a point to pull within one with nine minutes left. The Falcons later tied the game at 51-51 with 5:30 remaining after forcing six straight missed shots.
A pair of free throws by Meyer and a basket from Saadi gave Wyoming a 57-53 lead with under four minutes to play. Air Force answered with three consecutive 3-pointers from Kam Sanders to take a 62-59 lead with two minutes left.
Meyer scored with 90 seconds remaining to cut the deficit to one. On the next trip, he converted an and-one to give Wyoming a 64-62 lead with 35 seconds left. The Cowboys added late free throws to close out the 66-62 win.
Sanders led Air Force with 16 points and nine rebounds, going 4 of 5 from 3-point range. Eli Robinson added 12 points on 5-of-7 shooting.
Wyoming closes its home schedule Tuesday against Nevada Wolf Pack men’s basketball at 8 p.m. as part of a doubleheader with the Cowgirls.
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