“GOLD” under the pillow

It is estimated that the Turkish people have 5 thousands tons of gold,under the pillow. However, since 2011, the amount of gold involved in the system has been kept at 60 tons for the campaign aimed at earning gold for the economy. Despite the campaigns made, the amount of gold inserted into the system is too low. In that case there is a question : “Are the 5,000-ton estimates made on the amount of gold held by the Turkish people were exaggeration?”

While projects are being developed in our country to increase the savings that are low with the support of the government, studies have been initiated in order to make the investments under the pillow economical from the other side. Thus, since 2010, the banks are trying to earn the gold under the pillow to the economy with the application of “Golden Days” in order to earn the scrap gold to economy. Monetary value of gold that the banks have collected so far, has remained at only $ 2.5 billion. The habit that started by keeping our money “under the pillow” and the money they had reserved for hard days, won a great dimension over time. Now it has become an economic power because of including billions of dollars in foreign exchange and gold. While the estimate of the experts was around 25 billion dollars today it is estimated that this amount is 100 billion dollars. However, clear predictions do not remove the enormous power. Along with it, it is increasing with the crisis. At the beginning of the work, this name was called “Black Day Money” and the Elders referred to it as “Shroud Money”. Over time the “under pillow” factor grew. The amount of money left for hard times increased.  We are now experiencing the reality of a “pillow-bottomed economy” in our country even if the reasons are different. It is estimated that in a serious situation relative to the gross national product, especially in the banking sector, even if the size of this financial entity, which prefers to maintain its existence systematically and indifferently. Especially in the banking sector,  even if the size of this financial entity, which prefers to maintain its existence out of system and unregistered is un predictible, it is expected that it is in a serious amount relative to the gross national product.

Because of the economic downturn that has lived for a while, the “under pillow” factor has come back on the agenda. When we accept the experts’ estimates as a basis, it is possible to get a clearer picture in terms of “pillow gold” prediction. The revealed data reveal the size of the work.

The “gold” under the pillow is one of the traditional saving methods of the Turkish people. It is at the top of the guarantee methods preferred by the Turkish citizen. Let’s examine the data presented: Prof. Dr. Deniz Gökçe, has the idea of there is $ 60 billion in gold under the pillow. This amounts to about 7 thousand tons of gold for current prices. Economist Uğur Civelek argues that gold under the pillow is around 500-2 thousand tons (about 12-17 billion dollars). However, Murat Akman, General Manager of the Turkey Office of the World Gold Council, estimates 3500 – 4500 tons (about 30-38 billion dollars) for the amount of gold under the pillow. However, according to Akman, only 5-10% of this gold can be returned to the system. “Because 80 percent of it is used as jewelry. The remaining 20 percent is made up of Republican gold and Ottoman coins. It is very difficult to return to the system because a significant part of the Ottoman coins are considered as numismatic. Therefore, only 350-450 tons of gold can return to the system ” Akman says.



A memorial on Çamlıca Hill – Grand Çamlıca Mosque

A memorial on Çamlıca Hill


Grand Çamlıca Mosque

The construction of Çamlıca Hill Mosque project began at 29 March 2013; and it is proceeding at full speed along with architect Haci Mehmet Güner and his large working team. By using modern elements in Neoclassical style with reference to architectural manners of Seljuk-Ottoman, the chief architect Hacı Mehmet Güner and his large team created an artwork which has characteristics of;

A Memorial,

A Symbol,

And A Period artwork.

It is expected that the artwork in progress will take place among the most important works of Turkish – Islamic history considering the value it will add to the city silhouette on the direction facing to the West.

Within the structure, a social complex consisting several social areas such as:

Workshops which provide living space for Turkish – Islamic arts,

International art galleries where exhibitions can be held,

Turkish and Islamic Arts Museum,


Multi-purpose hall,

Conference room,

Observation terraces and

Parking garage is being built.


The artwork which will be located on a land of 57,500 m² will consist of a 10,000 m² of mosque, a 7,000 m² of courtyard and 13,000 m² of seatings, park zones and ornamental pools.

Worship services will be provided for 37,500 people in the mosque, and considering the outer court and firm ground, approximately for 60,000 people in total. In addition, a conference hall with a capacity of approximately 1000 people will be also included in the mosque social complex in the scope of this project. Around the mosque, walking trails and green fields are planned to be built.



The four of total six minarets around the mosque will be 107,10 m. Calculated by taking the own proportion of the structure into consideration, the height of minarets which are the same as the time when we first arrive at Anatolia makes the artwork more important. The other two 90 m tall minarets were built in the courtyard side.

The structure which its all gauges has been determined by the golden ratio method is shaped in this direction.

At the Istanbul Jewelry Show CNR EXPO which was held this year for the 43rd time, exhibiting Grand Çamlıca Mosque – the greatest mosque of Turkey – at Nadir Metal Refinery booth will fill us with pride; and we will be honored to see you among us.

The construction of the mosque which lasted for 71 days is being put into final form with the great patience and efforts of 27 master. 75 kg cast silver for the dome, roof cantilevers, minarets and fountain area; 25 kg cast gold for the minaret pillars, minaret balconies and edge finials are shaped with hand looms by our experienced masters; and prepared in accordance with the architectural plans.

The mosque which is 185 cm tall and 85 cm wide has a height of 105 cm. And the material used in total is 233 kg of 680 gr gold, 73 kg of 540 gr silver, 1805 piece of 100 gr gold bars, 1384 piece of 20 gr gold bars and 75 piece of 100 gr silver bars.


Nadir ranked 112th on Capital 500.

haber1Capital Magazine which is held traditionally as “Capital 500” gave awards to companies based on research results amongst Turkey’s largest 500 private companies.

Capital 500 is the list which determinesTurkey’s largest 500 companies prepared according to 2015 data, Nadir Metal Refinery succeeded in taking the 112th place in the list.

















Nadir ranked 92th on Fortune 500 List!

Fortune 500, which is accepted by business world as referance, determines Turkey’s largest 500 firm, includes financial institutions and other holding firms apart from sectors, announced the list prepared according to 2015 data.
Nadir takes 92th place in the list, continued to maintain its stable stance.

Nadir is a company that has succeeded in becoming an international brand in its sector with the products that breaks ground in the world today, superior standards that it caught in production of these products and investments it has made.

Nadir Metal crowns this success with the awards it has received and the lists it has entered fromthe top ranks in its field and continues to accelerate its success every year in a stable way.

















Nadir Is at 56th Rank in ISO 500 List!

Untitled-2Nadir, which protects its place at high ranks of the list, “Turkey’s the Biggest 500 Firms”, maintains its stable stance through holding 19th rank in 2012, 29th rank in 2013, 60th rank in 2014 and 56th rank in 2015.

The leader gold refinery firm in its sector, Nadir Metal, continued its enhancing graphic in a stable way through protecting its high ranked place in the list of “Turkey’s the Biggest 500 Firms”. The work “Turkey’s the Biggest 500 Firms”, which has been started as “100 Big Industry Establishments” in 1968 and has been sustained with advancing every year, is at the characteristics of a strong mirror that reflects Turkish economy. Through “Turkey’s the Biggest 500 Firms” work, important contributions are ensured to detect the road map directed to future, to see Turkish industrial development and to X-ray the real situation that cannot be found anywhere else. Nadir Metal continued to maintain its stable stance through holding 19th rank in 2012, 29th rank in 2013, 60th rank in 2014 and 56th rank in 2015 in the list that is updated every year based on the previous year’s data. Nadir Metal, that enters among the biggest industrial companies in Turkey in recent years and also takes its place in high ranks in the lists that are announced by independent foundations, has made its name written among the biggest 60 companies in Turkey. The firm, founded by Nadir Tütüncü during 1960s, took its place in jewelry sector with goldsmith work firstly. As of today, Nadir Metal, that process valuable materials in its advanced technology equipped factory, has the capacity of 150 tons of gold and 200 tons of silver yearly, has reflected its accumulation of years to statistics.

Our nation and has shown its power to the whole world as a unity

Our nation showed its force, magnitude, justice and many other its traits to the world as a whole and unity.

Thanks to God.

As being Grand Bazaar tradesmen, we wish the best for our nation and we wish God’s mercy and grace for our martyrs who lost their life in national struggle also wish the rest in the divine light. Their blood is as sacred as the blood of the martyrs of Çanakkale.

The duty that we have to do accomplish now is to maintain our business and to know awareness of our responsibility.

For some security reasons, our shops may not be open for a while. However, we will be keeping our promise and protect our sacred homeland.

From Nadir to Giza


It is believed that the Giza Pyramids were built during old kingdom period approximately in 3000 BC. These are Khufu, Khafre and Menkaure pyramids, and they were named after the pharaohs who had them built.

Pyramids of Giza are the world’s largest pyramids; and the construction of them still remains a mystery. Assuming that the workers superimposed 10 cubic meters of stone per day with an extraordinary effort, 2.5 million cubic meters of stone located in Khufu Pyramid could be placed in 250.000 days – namely 664 years. However, the pyramids had been completed in a period of 20-30 years.

Also called the Great Pyramid, Khufu Pyramid is the tomb of  Khufu – one of the 4th dynasty era rulers – who reigned in about 2800 BC.  When it comes to the seven wonders of the world, the only artifact that reached the present day is the Pyramid of Khufu in Egypt.

The second largest pyramid Khafre belongs to emperor Khafre who had become pharaoh after the death of his brother Khufu. The pyramid of Khafre is referred to as the second pyramid. It was built after the Pyramid of Khufu.

And the small pyramid of Menkaure belongs to Menkaure who reigned in about 2500 BC. Menkaure Pyramid is the smallest pyramid of Giza. It was completed after the death of Menkaure by his son Shepseskaf.

For those of us who brought many innovations in the previous meetings under the guidance of history by protecting the history, it is essential to carry on fulfilling the necessities of our customer standarts and historical mission. That being said,  at the CNR EXPO 2106 March Fair which was held this year for the 42nd time, we are joyous and proud of presenting the Egyptian Pyramids to our domestic and foreign customers’ taste.

For the production of Nadir Metal’s Giza Pyramids which made from 157 kilograms of gold, 1408 pieces of 100 grams of gold and 160 pieces of 100 grams of corner mould were used.  After a 45 day period of planning and construction phase accompanied by a team of 25 professional craftsman, it had become presentable to our visitors’ taste. 

This service of demonstrating the historic process of the pyramids we are offering to our people with micro-opportunities is an indication that the agelong mystery of the pyramids is enough to excite Nadir as well as the mankind. As such in everything that comes to light, this mystery will also attract the curiosity of human history forever and ever. 

LBMA / LPPM Precious Metals Conference 2015

LBMA / LPPM Precious Metals Conference 2015
18.-20 October 2015

Senior representatives of all sectors of the precious metals markets will be in attendance at the LBMA/LPPM Precious Metals Conference, the premier event in the industry calendar. Now in its 16th year, the Conference adds insight into the vital issues affecting the precious metals markets. The 2014 Conference was held in Lima, with more than 400 delegates in attendance from 37 countries and 188 separate companies represented. This year’s conference brings us back to Europe for the first time since the conference in Rome in 2013, when we had record attendance of more than 800 delegates.



The most precious of the exposition “Nadir Metal’s Maiden’s Tower”


Dating back 2,500 years, this unique structure has lived through a history which is equivalent to İstanbul’s, and became an eyewitness to whatever this city has encountered. From Ancient Greek to Byzantine and Ottoman Empires, with a history that began in ancient times, it has been able to come so far while existing in all historical periods. 

There are many legends told about the Maiden’s Tower which has been used for many purposes up to the present; such as the Snake Story, BattalGazi, Lion Gate, the Story of Famous Poet NazımHikmet…

The past is our other half. At the previous March Exposition, we said hello to our country and world marketfrom past to present by means of the commemorative coins prepared in memory of Çanakkale victory’s 100th anniversary. This year as well, we prepared the Maiden’s Tower project with the same enthusiasm as the custodians of the heritage left to us. Rather than us, the combination of east and west created by the exerted manual labor and technology was the cause of the intense interest shown by the local and international press. As Nadir Metal, we exist as long as we create a link between the past and the present, and we will continue to be there.

At the CNR EXPO October Fair which was held this year for the 41st time, attracting our customer’s and world press’ attention, the golden Maiden’s Tower hit the headlines for four days of exhibition as the most talked about project of the fair. The build phase of the Maiden’s Tower was completed in 25 days by our craftsmen. For the tower walls which weigh 71,640 grams in total, 100 grams and 50 grams of 24-carat gold; for the roof and housetops, 1 gram of Nadir 22-carat gold; and for the base and domes, 24-carat cast gold has been used. 

When we evaluate the fair in general, in addition to the great interest in the Maiden’s Tower, we can say that we left behind quite a productive exposition period while providing the opportunity to introduce our products to our local and foreign customers as well as having the chance of meeting face to face with our customers who have been growing with us for many years. 

The Turkey Eurasia Mining Show

The Turkey Eurasia Mining Show
September 08-09, 2015

This year, the 4th Turkey Eurasia Mining Show 2015 conference was held with the participation of mining companies, investors and senior government representatives from all over the world, and also Nadir Metal Refinery.
Foreign companies coming from abroad came together on the purpose of obtaining and sharing information about mining operations, prospecting activities and mining legislations in Turkey; and the interest of the international arena was pleasing. Conferences given in an attempt to assess and develop the issues oriented to the future of the mining industry and the one on one interviews with the companies in the international mining industry has provided efficient and successful interactions on behalf of our company.

Nadir, on the Chamber of Industry 500 List at 60th place!

Nadir, preserves its place on the list of “Turkeys biggest 500 Companies”, in 2011 at 127th place, in 2012 at 19th place, in 2013 at 29th place and in 2014 at 60th place.

Nadir made the traditionalistic 2015/q1 “Personnel and Manager Training” meeting

Parallel with the growth of the business volume, Nadir continues to expand and train its technical working, qualified staff. Held at certain times of the year, this meeting was conducted under the presidency of Board Chairman Nadir Tütüncü, CEO Abdullah Tütüncü and General Manager Burak Yakın with the participation of all employees. Trainings contained following topics:

  • Prevention of Laundering of Crime Revenues
  • Compliance With the Guidance For Responsible Gold
  • Risk Guide
  • Responsibilities Under the Legislation Of Crime Revenues
  • ‘Know-Your-Customer’ Principles
  • Documenting the Processes