By lunch I had reached over 30 people interested in owning Gold. As we talked in more detail, it became painfully aware to me that these folks lacked most of the information required to be making a sound decision on buying Gold in the first place.”
As harsh as that sounds, it was true – day in and day out. These folks were pretty sure they should be buying Gold, but when we got into the the details, they really had no idea what to buy, from whom and when. Some of the top brokers would have many of these folks sold on that call or certainly within a week or two.
When I could, I worked very hard trying to bring 24 years of experience to the table taking my time to educate these folks. I believed that once they understood enough about the economic reasons to be considering gold, how the gold business worked, how various products are priced and valued, and more – they would appreciate the information and become valued clients. More often than not however, I learned what all gold brokers come to know - even if it is the wrong product for them, at the wrong time for the wrong price – they get on the phone to talk to a broker – they are buyers, and well paid gold brokers sell them. It is their job.
On most any day, many brokers would sell you on owning Gold Bullion. Others will swear that high grade Numismatics – Collectible coins are the only chance you have of making money. Still others gold bars or silver-coins-bars…VERY OFTEN ON THE SAME DAY WITHIN THE SAME DEALERSHIP!
Are they all right? They are not all right. And therein lies the problem. To move forward with Gold and Silver purchases without knowing the answers to the following questions is playing a very dangerous game of financial Russian roulette…
Most Gold Buyers do not have access to quality, honest, un-biased, insider information to make a quality decision specific to them.
At least a third of my calls every day were to people who bought gold in the past and can’t tell me why they bought what they did when they did.
Unfortunately, a great many of them may never even break even and have no plan on what to do with their GOLD under the conditions we are likely to face….most are flying blind, or, they are not even in the game as FEAR overtakes them based on know how much they do not know. They’ve also heard the horror stories of friends who were sold nothing but broken dreams. It’s sad but these stories are frequent and widespread.
Much of the gold sold today would never be owned by gold brokers and other industry insiders. You REALLY should read that again.
As a gold broker, I KNEW for years that the best way to help my clients would be to get them educated so they knew what they were doing. Armed with this information, they would be able to make quality decisions for themselves and realize I really was different – I would not sell them what I would not buy.
I looked for this information and could not find it anywhere. I could teach it to them, but if it’s coming from the guy who is trying to sell you something…how credible is that? What I wanted was… Read more…