Terry Sweetman’s life has been based around the buying and selling of gold.
Terry Sweetman has seen both extremes of life as a New Zealand gold buyer – from a group of West Coast hippies profiting from sifting through discarded materials at an old, closed mine to a $60 million scam in Canada.
Sweetman, who lives in Greymouth, began buying and selling gold in the 1970s when the price began to go up markedly, buying small amounts from miners tilling the black sands of the west coast and selling to gold refiners. Over the years he has bought and sold many millions of dollars’ worth of gold.
With inflation set to rise, gold is touted as an ideal way to protect investments.
Tony Coleman was a young man when he learned a golden lesson – behind every boom there is a bust, leaving him with a lifelong attachment to the protective properties of investing in gold.
Now managing director of New Zealand Gold Merchants, Coleman was in his 20s in the 1980s – the period of excess when no investment seemed to carry risk and growing wealth seemed inevitable.
He had a choice between a jet ski or investment in gold. He chose wrong.
This is the first of a small series involving New Zealand Gold Merchants customers and why they have invested in gold.
Bob Hitchens’ interest in gold and silver began when he was 16 and purchased a Krugerrand – a coin he wishes he owned now.
“I sold it because I wanted a jet ski,” says the gold and silver investor who now has $120,000 tied up in the precious metals. “You know, I was young and thought money can’t buy you happiness – but it can buy you a jet ski and there don’t seem to be too many unhappy people riding a jet ski.”