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2002 has been a particularly gratifying year for us. Our client base has continued to expand at a rapid rate. And sales volume on our Onlygold.com website increased again this year, with rising gold prices leaving virtually everyone who bought gold from us over the past few years in a profit position.
Yet, only a tiny handful have cashed out. The fact is, most of our clients are in gold for the long run. They believe in gold ownership, and most of them see this year’s 20% rise in gold prices as a prelude to bigger things to come.
Gold ownership is a unique form of asset allocation. Gold is often bought with the expectation of an infinite time-line of ownership, wherein the gold buyer expects the asset to be held not only through his own lifetime, but also to be passed on to his designated heirs. As Jonathan Hoenig has written, “When it comes to hard-core savings, there's nothing more "long haul" than gold.”
Gold is the ultimate plan for the unforeseeable future, and its worth and utility stretches into infinity.
On the other hand, the truly beautiful about gold is its liquidity. While you might fully intend to keep your gold forever, if things change, you can sell it at a moment’s notice.
And this past year at Onlygold.com we saw a tremendous increase in purchases, both from referrals and from those who found our website. Customers from all over the country have taken advantage of the swift and reliable liquidity that we provide not only for gold products, but silver, platinum and numismatic items as well.
In a rising market, we will see more people take a profit and sell gold to us. Which works out well, because we have a growing customer base of gold buyers. And whatever the market, we will be here to provide a two-market in gold bullion and coins in all the different forms.
We thank you all for your support this year, and here’s wishing you the best for 2003!
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