Another day, another 200 calls to people looking to protect their wealth and “hopefully” even make some money with Gold. VERY FEW OF THEM EVER WILL!
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…