PAUL WITHERS

DIRECT BULLION

City
London
Category
Precious Metals
Company Size
UK
Phone number
020 7058 4653
Email address
pwithers@direct-bullion.com

The allure of investing in gold, says Paul Withers, is simply the fact that clients can physically own and hold it. ‘It’s the satisfaction and safety of knowing that, no matter what happens, they still have that gold,’ he explains. With considerable experience of the industry, Withers is managing director of Direct Bullion, a Mayfair-based online shop selling gold and other precious metals. Founded in 2015, it has already amassed 2,000 clients. Withers says that despite gold increasing in value by an average of 12 per cent per year, investing in gold remains a popular option, particularly. ‘I think this market is still more attractive than other investment options, which have higher risks with less returns. The gains from investing in gold are incomparable, it isn’t surprising that people are flocking to gold,’ he says. He also highlights the advantage that purchasing gold incurs no tax. ‘Since Brexit our sales have increased approximately 240 per cent. The day after the referendum was our busiest day ever. There were also significant increases in sales at the beginning of this year, because of the US election result — we received more calls and interest.’ Clients can purchase bars, loose coins, or certified coins, all of which can be delivered to a client’s home or stored in vaults. The latter are authorised by the Professional Standard for the Rare Coin Industry, which certifies and grades coins of any currency on a scale from 1 (‘the lowest quality’) to 70 (‘an absolutely perfect coin’). For HNW clients, it’s not just the fact they’re buying gold, but ‘the fact they’re buying something so rare,’ Withers says of their appeal. While some clients know precisely how they want to invest, others require advice about putting together a portfolio. ‘We’re always flexible and it’s a case of telling clients about their options,’ Withers explains. ‘We are always in contact with clients. We get satisfaction from helping clients, and seeing how much money they are earning.’

Paul Withers