Gold

Gold, presently very much in the news, has been on an upward trend for the past six months. While there are plenty of outlets buying and selling gold, where investors can err badly is in the price they either pay for it, or sell it for. Most retail outlets offering to buy or sell gold offer disastrous rates, either-way. While the proliferation of recent online websites also offer a significant risk factor. Not only as regards price, but also true purity.

As long established auctioneers we have served our clients well in the buying and selling of gold - either in coin or bullion form. We guarantee our sellers that we will get the international spot price for their consignments. And our buyers can be safe in the knowledge that our estimates are very fair.

Oddly, now is a good time to both buy and sell gold. The economy slowly recovering, successful Coronavirus vaccines on the way within the next three to four months, and to be rolled out internationally over the coming year - these facts will see the gold price settle back to a gently undulating value graph. As before.

Gold is a tremendous investment vehicle, and a solid proven hedge against inflation. A simple example illustrating this point. About ten years ago a lady came in to us with an old Edwardian oak rolltop desk she wished to sell in one of our antique auctions. We took it in, and while setting it up for the public viewing a few days later we had to remove the top from the base. There, hidden behind a drawer, was a thick rolled up bunch of old Irish £50 punt notes, to the sum of £7,300. I rang the lady to tell her what we had found, and, delighted, the following day she called by to collect the fortunate find.

As we were chatting, she told me that shortly before her father, a local shopkeeper and publican, had died, he had hidden this money for ‘safekeeping’. While she was over the moon for us to discover it, she had unfortunately lost out badly. Inflation had done its dirty work. When her father had died in 1976 the then present-day spending power of that money was e52,000. Now, had her father instead wisely bought £7,300 punts' worth of gold in 1976 from my predecessor (this sum would have gotten him 59oz of gold, equal to 3.6lb weight, approximately 5.2 square inches in volume), and stuck this instead behind that drawer, today it would be worth e116,150 - for his daughter, or himself had he lived, to spend it any way they pleased.

Not to sound too much like a financial advisor, but over any length of time cash dies, and gold prospers. This has been the trend since time immemorial. Gold makes sense - it is a straightforward, internationally traded, liquid commodity with it's own daily, publicly listed selling price with no counterparty risk, and plenty of people to buy it.

Please contact us should you wish to sell, or buy gold. We guarantee you the best price achievable.

 

E-mail:  info@matthewsauctionrooms.com

Tel:        01 8729555 / 046 9240568