I interviewed someone who, thanks to me, first approached the world of investment gold, specifically the gold coin market. I decided to ask her a few questions to better understand her perspective and offer you, the readers, a concrete measure of what drives ordinary people to invest in gold and silver.
This content is for informational purposes and reflects personal opinions. It is not financial, legal, or tax advice, nor an invitation to invest. Before making decisions, consider your circumstances and, if needed, consult a qualified professional.. [more…]
When and why did you decide to buy gold? “Almost two years ago. Someone had been talking to me about it for a while, but I put it off for a long time. The trigger was realizing, at the supermarket and in clothing stores, that prices had really increased significantly, in some cases even by double digits. This scared me, because I suddenly felt that the cash I had saved was losing value ever more rapidly.”
That’s true, but prices have been rising almost constantly for years. Why have you only now decided to take action? “Because the current increases seem much more pronounced. I used to consider them an almost natural phenomenon, hoping that sooner or later they would subside. Now, however, I’m realizing that it’s much more likely that they’ll continue to rise.”
What kind of gold did you buy? “I bought both small bars and coins, although I prefer the latter because I find them more beautiful and fascinating. I also remember that years ago a gold pound would cost me around €200, while now it’s worth almost four times as much! I also bought a few silver coins: from what I’ve learned, their value is very low compared to gold, and considering the technological demand, I think they could prove to be a strategic material.”
Why didn’t you choose financial gold, like ETCs? “To invest in ETCs, I would have had to open a securities account, and I didn’t want to get too complicated. Plus, I prefer to own gold physically, rather than just see it as a number on the screen. I know there are commissions when buying and selling physical gold, but having it with me makes me feel safer. I did some research and relied on metal banks that charge reasonable commissions.”
Doesn’t the fact that the price of gold fluctuates and that you could “lose” money for several years worry you? “Of course it worries me. But, at the same time, it would scare me even more not to have it now. Price fluctuations can cause a temporary loss, I know, but I’m even more worried about the loss of purchasing power due to the general rise in prices.”
Why did you choose gold over safer, more secure instruments like postal savings bonds or government bonds? “First, I can’t physically own them, and I prefer my savings to be as tangible as possible. Furthermore, I’ve realized that these instruments can’t keep pace with rising prices: the minimum guaranteed returns are too low. Postal savings bonds only become attractive after many years, while government bonds, if sold early, can cause a loss of capital due to changes in interest rates. On the other hand, I’ve been shown that gold, while less predictable, has protected purchasing power much better over the long term.”
May I ask how much gold you bought? “I converted about half of my savings into physical gold and silver.”
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