RARE GOLD CATCHES THE EYE OF BRISBANE INVESTOR

Written on the 21 June 2013

RARE GOLD CATCHES THE EYE OF BRISBANE INVESTOR

ONE of the world’s largest and rarest gold coins is in Brisbane for a short time.

It has been bought by an anonymous Queensland investor who is reportedly moving all of his assets out of commercial and industrial property and equities into bullion.

Weighing in at a massive 10 kilograms, and measuring about 25cm in diameter and 2cm deep, the coin is 99.99% pure gold and valued at half-a-million dollars.

It is one of a limited edition produced by Perth Mint and features a 2013 Chinese Year of the Snake motif. The coin is currently under lock and key at Ainslie Bullion, in Brisbane, which is one of Australia’s largest precious metal dealerships.

Ainslie Bullion Director Paul Engeman said the anonymous Brisbane coin-owner was one of a growing number of local investors who were choosing to buy gold and silver instead of traditional assets, like property or shares.

Engeman believes the trend stems from fears of global economic turmoil resulting from prolonged money printing; huge amounts of highly leveraged derivatives still in the system after the GFC; and unsustainable government spending and debts.

“Over the past 10 years, gold has outstripped many other assets in the market. Its value has increased by 164%, and silver by 208%, compared with 50% growth in the All Ordinaries or 93% in Brisbane property,” Mr Engeman said.

“Over the past few months we have seen growing interest in bullion. In particular, high net worth individuals, who already own gold or silver, are increasing their exposure.

“There is also a lot more interest from the mum and dad investors who are looking for new ways to reduce their risk and broaden their investment portfolio and discovering how easy it is to buy physical gold and silver.”


Latest News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

VOLATILE INDUSTRY CLIPS FLIGHT CENTRE'S WINGS

DESPITE achieving record sales in the first half, Flight Centre Travel Group (ASX: FLT) profit has suffered the ef...

ARDENT TAKES $95.2 MILLION HIT FROM DREAMWORLD TRAGEDY

ARDENT Leisure has taken a $95.2 million write-down on the value of its Dreamworld theme park following the tragedy t...

AGENT EXITS, LOW LISTINGS HURT MCGRATH

PROFITS have dived 72 per cent at real estate group McGrath (ASX:MEA) to $2.4 milllion on the back of low property...

Related News

EVERYTHING YOU NEED TO KNOW ABOUT THE NATIONAL BROADBAND NETWORK

THE National Broadband Network (NBN) is more than an internet connection, it is an opportunity to transform your b...

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter