Whisky investment

Pollycat

louby40 said:

Rebel Finance School always advise not to invest in whiskey or gold. 

Although I don't class them as investments, I have a number of gold jewellery pieces that are currently worth far more than I originally paid for them.

What specifically does this company say about not investing in gold?

@OP
What reason have this company given you for refusing to sell your casks?

louby40

Not comparing them, just saying that those two items are regular questions asked by people over on their Facebook group and on the courses they run on YouTube. 

Pollycat

louby40 said:

Not comparing them, just saying that those two items are regular questions asked by people over on their Facebook group and on the courses they run on YouTube. 

I still can't understand why someone would recommend not to invest in gold.

Nebulous2

Pollycat said:

louby40 said:

Not comparing them, just saying that those two items are regular questions asked by people over on their Facebook group and on the courses they run on YouTube. 

I still can't understand why someone would recommend not to invest in gold.

Obviously - like whisky, gold is a tangible asset. Again like whisky there are a lot of scams built around it, in the hopes that unwary people will get sucked in by shiny things, and not see the pitfalls. 

First one on gold scams that came up on a search for me. It's American but the same issues can happen here. 

Avoid These 5 Gold Scams To Protect Your Wealth - Swiss America blog

Pollycat

Nebulous2 said:

Pollycat said:

louby40 said:

Not comparing them, just saying that those two items are regular questions asked by people over on their Facebook group and on the courses they run on YouTube. 

I still can't understand why someone would recommend not to invest in gold.

Obviously - like whisky, gold is a tangible asset. Again like whisky there are a lot of scams built around it, in the hopes that unwary people will get sucked in by shiny things, and not see the pitfalls. 

First one on gold scams that came up on a search for me. It's American but the same issues can happen here. 

Avoid These 5 Gold Scams To Protect Your Wealth - Swiss America blog

Really?
Investing in gold mines or non-existent gold?
Very different to my comment about buying gold items (rings, bracelets, necklaces) for my own use and then finding the price of gold has exponentially increased.

We are talking about 2 totally different things.

No wonder this company recommends not investing in stupid schemes.
They may as well just say 'don't be stupid with the money you have to invest'.
Which is a no-brainer for me.

QrizB

Pollycat said:

louby40 said:

Rebel Finance School always advise not to invest in whiskey or gold. 

Although I don't class them as investments, I have a number of gold jewellery pieces that are currently worth far more than I originally paid for them.
What specifically does this company say about not investing in gold?

Gold jewellery is almost always priced at a significant premium to the value of the gold contained therein. It's rarely a good choice for "investment", which is what we're all discussing here. (If you happen to own a Faberge egg, that might make the grade to be considered an investment.)

Pollycat said:

Very different to my comment about buying gold items (rings, bracelets, necklaces) for my own use and then finding the price of gold has exponentially increased.
We are talking about 2 totally different things.

And if gold had halved in value, you'd still have your enjoyment from owning the pieces. It's still not an "investment".

So yes, we are talking about 2 totally different things.

Pollycat

QrizB said:

Pollycat said:

louby40 said:

Rebel Finance School always advise not to invest in whiskey or gold. 

Although I don't class them as investments, I have a number of gold jewellery pieces that are currently worth far more than I originally paid for them.
What specifically does this company say about not investing in gold?

Gold jewellery is almost always priced at a significant premium to the value of the gold contained therein. It's rarely a good choice for "investment", which is what we're all discussing here. (If you happen to own a Faberge egg, that might make the grade to be considered an investment.)

My items were bought at very good prices in India and Sri Lanka a long time ago.
For example, I paid £35 for a 18 carat gold item which is worth (at today's gold prices) £280.
I consider that to be a pretty good investment.

I'm not sure why a poster introduced the subject of gold as an investment when the OP was asking about investment in whisky. 🤔

Nebulous2

A poster said that gold and whisky were recommended as something to avoid, by a website or financial commentator that I have never heard of. 

I said there is nothing intrinsically wrong with gold or whisky, but they are both surrounded by people who will at one end of the scale want a hefty fee for their involvement, and at the other will outright scam you of everything you are silly enough to give them. I was putting forward the view that the advisor was against both of these items because of the risks around them, rather than the commodity itself. 

Even avoiding all that and buying gold directly it has significant disadvantages that make it unsuitable for more than a small proportion of most people's investments. 

It produces no income, unlike many shares. It needs to be kept safe. It needs to be insured, or take the risk of a total loss. It undergoes significant periods where it doesn't increase in value, interspersed with big bursts of activity, like we have had this year. 

I have a 1oz krugerrand. It was given to me as a present in the mid-seventies and cost £75 at the time. Today it is worth around £3500. There have been significant periods in between when I have only had a vague idea where it was. I've never insured it separately, and thankfully it has never been stolen. 

Yet look at where that increase in price came from. 

Pricing from the start in mid-70s. £75.   Jan 1980 £262.67, Jan 1990 £247.35, Jan 2000 £172.44, Jan 2010 £716.32, Jan 2020 £1293.69,  Jan 2024 £1600.76. So almost all the growth has happened in the last two years. 

From January 1980 to January 2000 a whole 20 years it lost 34% of its value. 

I'm holding onto my krugerrand, come what may, as it has sentimental value, but the last two years mask significant periods of under performance as an investment.. 

Gold Price History | GOLD.co.uk

Bravepants

https://forums.moneysavingexpert.com/discussion/comment/81777431#Comment_81777431

Even with gold people need to know what they're doing. My sister-in-law confided in me just at the weekend that she is buying gold bullion on a monthly basis from a company she saw advertising on Facebook. She is buying 24k gold ingots weighing 1/200th of a Troy ounce, thinking that it is a good investment. So far she has bought four. But she is being charged about £32 each for the ingots, which is nearly twice the current spot price of 24K gold, about £3500! I pointed this out to her and she just went "Oh!"

What's more, she thought she was buying 1 gram of gold each time!

I pleaded with her to stop as she was going to enter into a subscription with the company! Madness!!

Pollycat

https://forums.moneysavingexpert.com/discussion/comment/81890884#Comment_81890884

Of course you need to know what you're doing!

Indeed it is madness to invest in anything when you are totally unaware of the current price. Don't think that something is a good investment. Make sure it is before parting with your money!

No surprise to hear that Facebook is involved.

Why don't people wise up and check things out?

On the subject of investing in gold, I've made it clear that I bought for enjoyment (jewellery) - not for profit.

The fact that everything I've bought is now worth much more than I paid for it is just icing on the cake.

3 years ago, I bought an 18 carat ring set with a marquise diamond from a pawnbroker, not particularly a great stone but I liked the design.

I found the receipt the other day.

It weighs 4.28 grams of gold so I could sell it for scrap to a local-ish jeweller for a tad over £350. And that's not including the diamond. My investment of £200 was a pretty good one. But I still wear it.

Tell your sister-in-law that there's very few 'get rich quick' schemes - and almost certainly none on Facebook.

And the 4 most important words before investing even a penny are DO YOUR DUE DILIGENCE.