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I think it was back in the 80's a New Zealand company called Gold Corp went
under.
The ones who lost out were the people who left their gold in the Gold Corp.
vault, the liquidators found most of the gold supposed to be held there was
missing.
Those who had taken possession of their gold and stored it themselves were
not affected.
NS
-----Original Message-----
From: jonmac <jonmac@xxxxxxxxxxx>
To: omega <omega-list@xxxxxxxxxx>
Date: Tuesday, October 02, 2001 8:10 AM
Subject: Gold
>My brother who is not a Trader wishes to ask you the following question:
>
>I am concidering converting cash to gold coinage/bullion. My primary
purpose
>is to have gold ON HAND as a means of exchange, in a worst world case
>senario (eg. superannuation fund insolvency or my bank closing it's door as
>per in the'30's etc).
>
>The www.perthmint.com.au offers: purchase of gold/storage/purchase of
>redeemable certificates. The mint is owned by the Western Australian
>government. It appears that purchase is faily stratight forward but
>liquifying/redeeeming may be different. For the Mint to buy my gold back
>will cost an immediate twenty to thirty percent. Obviosly this appears to
be
>'a negative' in holding gold?
>
>Would anybody out there be able to advise me on pitfalls that could be
>encountered in either the purchase of, or the selling of gold, either in
>physical form/redeemable certificates or similar and what are the feeling's
>out there in the use/holding of gold (or other precious metal's) in this
>situation
>
>Regards to all-Brian
>
>
>
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