Johnson Matthey Refining: Overview and Investor Guide

Posted - July 1, 2026
Johnson Matthey Refining Investor Overview

At a Glance:

    • Johnson Matthey is a precious metals refiner that produces a range of products.
    • Asahi Holdings acquired the Johnson Matthey refining operation in 2015.
    • Vintage Johnson Matthey silver bars are popular among collectors and investors.
    • On this page, learn more about Johnson Matthey refining, popular products, and more.

 

Johnson Matthey Refining: Overview and Investor Guide

Johnson Matthey was a precious metals refiner that operated for nearly 200 years. Founded in 1817, the London-based assayer eventually grew into one of the largest global precious metal refiners on the planet. While new Johnson Matthey bullion bars are still being produced by refiners who have purchased the brand name, the Johnson Matthey refining division was sold in 2015. The original lineup of Johnson Matthey products tends to command a healthy premium among collectors.

Today, Johnson Matthey is an extremely popular brand of vintage gold and silver bars, while the ongoing modern collection offers new investors an accessible ramp into collecting the iconic Johnson Matthey logo.

On this page, we’ll cover the history of Johnson Matthey Refining, the refiner’s most popular products, and more.

About Johnson Matthey Refining

Johnson Matthey is a chemicals refining corporation that specializes in platinum-group metals, including platinum and palladium. 

Although Johnson Matthey continues to operate as a major chemicals company specializing in platinum-group metals today, the refining branch of Johnson Matthey was acquired by Asahi Holdings. Modern Johnson Matthey bars are produced by Asahi but feature the classic Johnson Matthey name.

History of Johnson Matthey Refining

This refinery began in 1817 with the founding of an assaying office in the United Kingdom. Eventually, Johnson Matthey expanded its assaying process to become the official assayer and refiner of the Bank of England.

For American investors, Johnson Matthey’s biggest foray into refining came in the 1970s. During this period, the silver boom led Johnson Matthey to begin producing a range of silver bars and rounds in order to satisfy the growing market for retail investment bullion. Production continued until the 1980s, when Johnson Matthey ceased production of small, retail-sized bullion products.

Popular Johnson Matthey Refining Products

A wide range of Johnson Matthey products are traded on the modern bullion market, but the refiner is best known for its silver bars and rounds. Produced at the height of the silver rush in the 1970s and 1980s, these vintage silver bars and rounds come in a variety of sizes and feature the iconic Johnson Matthey logo.

Although Johnson Matthey is well-known among investors today for its work in silver refining, the company began as an assaying operation in London. Throughout its history, Johnson Matthey has also produced several gold, platinum, and palladium products that are enjoyed by investors today.

Johnson Matthey Silver Bars

The Johnson Matthey line of silver bars is likely the most popular collection to come from the refiner. Most commercially available Johnson Matthey silver bars range in weight from 1 troy ounce to 100 troy ounces. 400-ounce “good delivery” silver bars minted by Johnson Matthey exist, although they are primarily traded between institutions and exchanges.

Many of Johnson Matthey’s silver bars feature the standard Johnson Matthey logo, which includes two crossed hammers. Although many Johnson Matthey silver bars also include serial numbers, some may not. Serial numbers are standard for large Johnson Matthey silver bars. Most vintage silver bars minted by Johnson Matthey are 99.9% pure.

Johnson Matthey 10 oz Silver Bar - Any Style
Johnson Matthey’s vintage silver bars are popular among investors.

Johnson Matthey Silver Rounds

Johnson Matthey also released a series of silver rounds in the 1980s, many of which have become favorites among stackers due to their vintage look, unique designs, and the reputation of the refiner behind them. Silver rounds minted by Johnson Matthey feature a range of different designs, giving collectors several options.

The refiner ceased production of silver rounds in the 1980s, so the Johnson Matthey line of silver rounds is no longer being manufactured. However, Johnson Matthey silver rounds are still traded on the secondary market, where they are popular among investors who enjoy vintage privately minted silver rounds.

Johnson Matthey Gold, Platinum, and Palladium

In addition to the highly popular vintage line of silver rounds and bars, Johnson Matthey has produced a number of other precious metal products over the years. Johnson Matthey’s offerings include gold, platinum, and palladium, as well as the standard silver products for which the refiner is most well known.

Most Johnson Matthey bullion bars feature similar designs to those found on the refiner’s silver bars.

Why Buy Johnson Matthey Gold and Silver?

Investors love Johnson Matthey gold, silver, and platinum-group metal bars and rounds for a few different reasons.

First, Johnson Matthey was an established refiner with a history of excellence in the precious metals market. Johnson Matthey was a renowned assayer in Great Britain in the 19th century, and the company’s expansion into refining has made it a global leader.

Johnson Matthey’s vintage precious metal products are also popular because of their classic, iconic designs. The silver, gold, and platinum bars in the Johnson Matthey line feature sleek designs that remind investors of an earlier era in the precious metals market.

Because vintage Johnson Matthey bars and rounds are no longer being produced, they can also sometimes carry a premium over melt value. Collectors are often willing to pay extra for a vintage Johnson Matthey bar due to the series’ limited availability.

Johnson Matthey 100 oz Silver Bars
The largest Johnson Matthey silver bar available to investors is typically the 100 oz bar.

Are Johnson Matthey Bars Still Being Made?

Are Johnson Matthey bars still being produced? Johnson Matthey is not still producing gold, silver, or other precious metal bars. Asahi Holdings purchased the refining branch of Johnson Matthey in 2015. Today, Johnson Matthey precious metal bars are minted by Asahi.

Both modern and vintage Johnson Matthey silver bars are sought-after by investors. While the new bars merge the modern refinement technologies of Asahi with the iconic look of Johnson Matthey silver, vintage Johnson Matthey silver bars are prized for their classic look, history, and dwindling availability.

Final Thoughts: An Overview of Johnson Matthey Refining

For a time, Johnson Matthey was one of the world’s most renowned refiners of gold, silver, and other precious metals. Johnson Matthey bars and rounds are often considered collectible among precious metal investors. Although Johnson Matthey’s refining branch was sold to Asahi Holdings in 2015, vintage rounds from Johnson Matthey are highly popular for their limited availability, classic designs, and more.

Hero Bullion offers a wide range of Johnson Matthey products in gold, silver, and more. Shop our full inventory to take advantage of fast shipping, free shipping on qualifying orders, competitive pricing, and more.

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About The Author

Michael Roets is a writer and journalist for Hero Bullion. His work explores precious metals news, guides, and commentary.