RARE GOLD CATCHES THE EYE OF BRISBANE INVESTOR
Written on the 21 June 2013
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.”