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For the 'Adoption Curve' watchers:
http://news.bostonherald.com/busines...&position=also
By Jerry Kronenberg
Tuesday, August 23, 2011
fyi, Hub = Boston area
Oliver Wendell Holmes: "Boston State-House is the hub of the solar system. You couldn't pry that out of a Boston man, if you had the tire of all creation straightened out for a crowbar."
http://news.bostonherald.com/busines...&position=also
By Jerry Kronenberg
Tuesday, August 23, 2011
Leader Bank is hoping to become the gold standard of Boston financial firms — literally.
With stocks tanking and gold hitting all-time highs, the Arlington-based bank recently began marketing gold coins to investors — apparently the only Hub bank to do so.
“There’s so much uncertainty in financial markets these days that people are looking for other ways to invest,” Leader Bank President Sushil Tuli said. “The stock market isn’t doing well and bond interest rates are next to nothing, so people just seem to have more confidence in gold.”
[..]
Leader’s five branches all stock small amounts of American Eagle gold coins, Canadian Maple Leafs and South African Krugerrands, which the bank sells to both existing customers and the general public.
Buyers pay gold’s market price plus a 4 percent commission, using cash, certified checks, traveler’s checks, wire transfers or money from Leader accounts.
Tuli got the idea of selling gold from banks in his native India, where they have long stocked precious metals.
The Arlington bank first began offering the coins around Christmas 2008, but originally advertised them as gifts.
Leader only began marketing the coins as investments this month, touting them in WBZ-AM (1030) radio spots as “a sound addition to any (portfolio) during these challenging economic times.”
Village Bank President Kenneth Brennan said it’s the first time during his 35 years in the industry that he’s heard of a bank offering gold coins.
With stocks tanking and gold hitting all-time highs, the Arlington-based bank recently began marketing gold coins to investors — apparently the only Hub bank to do so.
“There’s so much uncertainty in financial markets these days that people are looking for other ways to invest,” Leader Bank President Sushil Tuli said. “The stock market isn’t doing well and bond interest rates are next to nothing, so people just seem to have more confidence in gold.”
[..]
Leader’s five branches all stock small amounts of American Eagle gold coins, Canadian Maple Leafs and South African Krugerrands, which the bank sells to both existing customers and the general public.
Buyers pay gold’s market price plus a 4 percent commission, using cash, certified checks, traveler’s checks, wire transfers or money from Leader accounts.
Tuli got the idea of selling gold from banks in his native India, where they have long stocked precious metals.
The Arlington bank first began offering the coins around Christmas 2008, but originally advertised them as gifts.
Leader only began marketing the coins as investments this month, touting them in WBZ-AM (1030) radio spots as “a sound addition to any (portfolio) during these challenging economic times.”
Village Bank President Kenneth Brennan said it’s the first time during his 35 years in the industry that he’s heard of a bank offering gold coins.
fyi, Hub = Boston area
Oliver Wendell Holmes: "Boston State-House is the hub of the solar system. You couldn't pry that out of a Boston man, if you had the tire of all creation straightened out for a crowbar."
. From what I remember, they offered American Eagle, Maple Leafs, and Krugerrand. For me what mattered was high purity, so I got the Maple Leafs.
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