Krugerrands – You buy them – you are stuck with them. All the hype about them being convertible bullion is nonsense, the banks won't touch them and the dealers make risible offers. I have been trying to sell 1/4 Krugers on Gumtree for much less than the dealer price, but to no avail.
So please, use your influence, which is considerable, to warn would-be investors against these totally unscrupulous gold and coin dealers.” – John
Unfortunately, John did a few things wrong…
• He bought a coin without really knowing if there is demand for it
• He isn’t selling it to a reputable dealer
• He fell for market hype when he bought his coins in the first place
John is right about one thing though, when we spot bad investments, we tell you about them. This takes a lot of time and research, which is exactly what I’ve been doing with gold recently. That’s why John, I have to disagree with you. Gold coins are a great investment...
I doubled my money with Kruger Rands in just five years
You see, I invested in Kruger Rands. Between 2008 and 2014, I doubled my money. In fact, I made a 110% gain in five years and one month and used part of my profits to buy a new family home.
But are gold coins really a great investment opportunity right now?
My quick answer is, “Yes!”
I’ve just written an article on gold investing for the latest issue of The South African Investor. I spoke to our international team of investment experts and all of them believe that investing in gold right now is probably one of the wisest decisions investors can make.
What really struck home is when the editor of the Daily Reckoning, Jim Rickards said, “Inflation will send the gold price up, if not to $10,000 then to a level that reflects gold’s historical measure of value.”
So why is John having such a tough time with his gold coin investments?
I called Randburg Coin on 011 789 22 33. I asked them why someone would struggle to sell their gold coins. The answer, “We only deal in South African Mint products, it makes up around 99.5% of our coin business. We don’t deal in gold coins if we don’t know where they come from.”
I then asked them to quote me on a price for selling a 1 ounce Kruger Rand, they immediately offered me, R18,200 if I wanted to sell. They even offered to collect the coin from my office and transfer the money to me. It was quick, easy and efficient service from one of the smaller, yet reputable gold brokers in the country.
I then asked, “Do you buy gold coins on Gumtree?” I assumed from the hysterical laughter that followed that the answer is, “No.”
So, if you’ve been thinking of investing in gold, here are…
Three tips to get your gold investing off on the right foot
1. Always buy gold coins from a reputable broker
2. Never try to sell your gold coins online
3. Make sure you know what coin you’re buying before you commit to it
If you’re afraid that you’ll make the same mistakes John did, get your hands on the next issue of The South African Investor
(the Board of Directors are taking on new members for the next few weeks only).
In the issue, I’ll show you:
• Exactly why gold is up and why it will keep going up
• Why the gold critics are wrong
How you can double your wealth in the next five years with the world’s most popular bullion coin
As predicted gold hit $1,272 in March 2016
Discover how you can: Get the most BANG for your BUCK with GOLD