Scoop has an Ethical Paywall
$80M of unwanted Gold and Silver jewellery remains untouched
3 May 2012
$80M of unwanted Gold and Silver jewellery remains untouched
With many New Zealanders focused on reducing debt levels and remaining cautious about spending, New Zealand Gold Merchants (NZGM) Director Tony Coleman estimates there may be around $80,000,000 of untapped wealth in New Zealand homes.
By our estimates there is at least $80m as old or broken jewellery such as necklaces, pendants, bracelets or even watches that probably haven’t been worn for at least four years. We are seeing that the modern goldmine is the old jewellery in jewellery boxes in houses around New Zealand,” says Tony.
“Many people traditionally considered gold buying and selling as being only for the wealthy or discerning investor, however we have noticed by the amount of traffic coming through our website (www.gogold.co.nz) or coming directly to our gold refinery in Onehunga, Auckland that this market is changing,” says Tony.
“From our understanding in discussing this with our customers, it is a combination of not only being able to deal directly with people who are experts in precious metals; they also know that as a refiner their old gold gets recycled in an environmentally safe process. On average this year each person who came to us received around $900 which we know goes a long way toward helping with paying household bills,” says Tony.
“Whilst a large percentage of our customers simply want to cash up, we are seeing a steady increase in the number of astute investors who having received payment from us for their old jewellery are then purchasing our NZ Pure Bullion or Pamp Suisse Bullion,” says Tony.
About New Zealand Gold Merchants
Established in 1975, New Zealand Gold Merchants (NZGM) is the trusted authority in Precious Metals Refining and Bullion Buying. With an enviable reputation for innovation including the first NZ Company to produce local silver bars and the first to offer gold chain jewellery with local gold, NZGM continues its long tradition of producing the finest New Zealand Bullion Product.
Offering local customers the opportunity to sell their unwanted jewellery direct to the refiner, NZGM uses its environmentally friendly refinery process to recycle old jewellery & industrial product into NZ Pure Bullion. For discerning investors NZGM offers its own local NZ Pure Bullion Brand as well as being the official New Zealand agency for the internationally recognised Pamp Suisse Bullion product range.
New Zealand Gold Merchants, the trusted authority for buying and selling gold & silver. Visit www.gogold.co.nz
ENDS
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