Thursday, I made a precious metals presentation to a firm that manages the money of some of the wealthiest families in Minnesota. Their clients are commonly referred to as “old money families.” It’s taken quite a while, but just recently some of their clients have expressed an interest in gold. My presentation was to the Senior Partner of the firm and his staff. He is a 50-year stock and bond man, who oozes success. I think they were expecting me to pitch them on what great “investment” gold is. I won them over by emphasizing that gold is wealth, and gold is money, period. I stressed that gold has a place in a portfolio even in the best of times.
Not one of these incredibly accomplished money managers had never even seen a gold coin or held one in their hand before. You could see their faces light up when I passed a gold coin around the table for them to inspect. It never fails – gold does have a magical affect on people. Richard Russell says “gold is part of the DNA of mankind.”
The questions they asked me about gold and silver were not what you would expect, from a group of seasoned experts who manage billions of dollars of client money. They were the same kind of questions I am asked every day by novice investors.
I believe that this was the first time any of them have ever thought about gold with an open mind, and I know they were impressed with what they heard. I passed around a Gold Buffalo and let them actually touch and feel an ounce of gold. I explained gold’s role as” money” for over 5,000 years. By the end of the presentation, every one of them wanted to buy some for themselves.
The meeting went incredibly well, and their first order will be more than double the size of the largest order we have ever done in, 21 years of business. And this is just the beginning of our relationship.
Gold is starting to appear on the radar screens of the main stream and it is getting harder for us to get now. Consider that all it will take is for just a few large money management firms, like the one I saw today, with their enormous buying power, to cause major shortages all by themselves.
As the “mainstream” gets serious about gold, it will be impossible to get.
Get longer gold before it’s gone!