Gold and Silver UK recently had the opportunity to put together a Q&A session with winvestment.co.uk, a fun site which offers gold and silver prize draws.
Gold and Silver UK has been following Winvestment on instagram for some time now, as it looked like a unique concept and an exciting way to potentially win prizes that hold value (gold and silver).
When the opportunity came around to find out more about the site, services and background, Gold and Silver UK jumped at the chance to put together a great Q&A session which allowed us to have more insight into the company, the concept and their ethos.
Interview with Jack and James of Winvestment.
Q: Can you give us a brief description of Winvestment and the company’s ethos?
A: Winvestment came about to fill a gap in the market for a high quality prize draw competition site.
Prize draw sites have been around for ages but they all seem to give away prizes such as tech and cars, things that depreciate in value and will eventually be worth next to nothing.
We believe that if you win a prize it should have value and this is why we only deal in precious metal prizes as these will always hold a value and have every chance of growing in value as time goes on.
If you win with us, your prize could well be worth twice as much in the future!
We believe in offering the best of the best prizes, with great odds and we also run competitions to suit all budgets with entries from as little as £1.
We want to build a community of like-minded people who like to have fun and play responsibly and eventually grow the company to a stage where we are offering truly life changing prizes to our members.
Q: Can you give us a bit of insight into the history of Winvestment and how you came up with the idea?
A: Jack and I met through work and after a while discovered that we both had a soft spot for competitions and prize draw sites.
There’s something about the excitement of the draw, and the possibility of winning something for a fraction of the cost.
We also both share a mutual love for collecting and precious metals.
After a few short-lived business ideas we decided that we could combine both our passions and create a brand new site that offers gold and silver bullion prizes.
We figured that if we would both enter these types of competitions, then surely other people would! And then Winvestment was born.
Q: Can you tell us a bit more about how you guys became interested in precious metals in the first place?
A: I have always collected things since I can remember.
It started with toys, rocks, precious stones, coins and very recently silver. For me it is more the thrill of the search in collecting.
Jack too collected silver but from more of an investment point of view.
The fact that we offer prizes that can be desirable to different groups of people made us think that Winvestment really could be a viable business option.
Q: Can you tell us a bit more about the specific gold and silver coins or bars you currently have as prizes.
A: Currently we have a beautiful 1kg PAMP Suisse minted bar as the prize for our Christmas competition.
It really is a beautiful thing and combined with some lovely 2020 silver Britannias this makes up our 1k silver prize draw.
We also have a wide range of bullion coins on the site including a gold 2021 Britannia, a beautiful gold 1907 20 Francs coin, some amazing silver coins from the Perth mint including the latest Gods of Olympus coins as well as boxed collectibles such as the Star Wars Death Star coin and full set of Marvel superhero coins.
We try to always have a variety of prizes so there will be something to suit everyone, as well as ticket prices to suit different budgets.
Q: What would you say are the most popular gold and silver products that your customers want to win?
A: We are still learning a lot from our customers and Facebook group members.
Everyone likes different things and their dream prizes would all be different but Marvel coins are very popular currently, so too are gold Britannias and most things that come out of the Perth mint sell out quite quickly.
We like to keep in touch with our customers and use their feedback to tailor the company towards what people really want.
Q: With the current pandemic and geopolitical uncertainty causing huge financial pressures across the globe, how do you feel this will affect the precious metals market in general?
A: At the start of the Covid-19 crisis there was a huge increase in people buying into precious metals as a hedge against financial uncertainty.
Gold and silver have always been popular but in times like this is seems even more so.
Personally I think that more and more people will get into investing as holding a solid asset seems much more appealing than sticking money in the bank and watching it become less and less.
There’s also the fact that if there’s a sudden spike in gold values you could sell your stash and make quite a nice profit from not actually doing much at all.
Q: Central banks across the globe are initiating huge amounts of quantitative easing. Do you think inflation is inevitable, or do you think there will be a deflationary period? In either scenario, do you regard owning gold and silver as a good way to preserve wealth during periods of inflation or deflation?
A: There will be inflation.
Banks, businesses and suppliers will start increasing prices and this will go up across the board and there’s nothing we can do about it, but we can invest intelligently.
Gold and silver have always and will always be a good way to store wealth. Regardless of whether prices rise or fall following the Covid-19 pandemic, these things happen, but precious metals always seem much more stable and do gradually increase in value over time.
Personally I think the best way to invest is to vary the assets you have.
Cash, gold, silver, crypto-currency. The more variety you have, the more it can compensate if one asset devalues.
Put simply yes, we do believe that gold and silver will always be a good asset to hold, and for people that closely follow the values, there is always the chance to make huge profits if you sell at the right time.
Q: Do you think gold will hit $2000 an ounce again in the near future and would such a development potentially create a new wave of investors? Would this potentially lead to more customers to your site, as there would be more interest in gold and silver?
A: Ah it’s so hard to predict.
Gold did spike at over $2k in August but this was short lived and personally I don’t think it will hit $2000 very soon.
These things often correlate with negative events in the world. When bad things happen, people buy gold and it pushes the price up.
I feel there will be a small drop in value for a while but also there are so many people who have discovered bullion as an investment and many people’s eyes have been open to holding metals as assets.
This being said I feel that when we see the next drop there will be a bigger spike with more investors than ever jumping on the precious metal train.
Hopefully this will mean more visitors to our site as we are offering what they want but they can win it for a fraction of the cost.
All we can do is keep offering awesome prizes that people want.
Q: The gold and silver market is still relatively small compared to other markets such as tech. Do you eventually see more of a shift towards the precious metals market by more mainstream investors? What do you feel could be the trigger?
A: I don’t feel that precious metals are currently as attractive to mainstream investors.
Although they are generally stable, you don’t often see huge profits, whereas things such as tech can offer huge bonuses if you invest in a company with some kind of groundbreaking technology.
However, with the world becoming greener and more environmentally friendly, this could impact what people buy and in turn impact what people are investing in.
If people get sick of consumables and disposable tech, we could see a switch to investing in something greener which could well be metals as these have always been here, always will, and always hold a value.
Q: The gold standard is revered by some and loathed by others. Do you think there will ever be a return to some form of gold standard in the future?
A: Although the GS is a nice idea, and would help with things such as limiting the amount of money governments can print, I can’t see things realistically going back especially with the rise of Crypto.
Although gold will always be a valuable commodity I can’t see it ruling the way money works anymore.
Q: Tell us a little more about the charities Winvestment has supported so far?
A: As a new company we have a number of charities we believe in and want to support.
Our last 2 donations were to the Firefighters charity who help support the families of firefighters injured or killed in the line of duty, and Devon Air Ambulance.
Jack works as a firefighter so this charity means a lot to him and he has personally seen the good work they do.
We will have more competitions soon in which 100% of the profits goes to charity, as well as donating profits periodically to causes we feel strongly towards.
We welcome suggestions from our customers about any charities or causes that they feel would benefit from our support.
Q: How are winners chosen?
A: All our tickets are awarded randomly and winners are picked using a random number generator, making this solution 100% fair and impossible to fix.
Trust is at the heart of what we do and we feel there is no fairer way to choose winners.
All our draws are done live on Facebook for complete transparency and to allow our customers to find out if they are a winner in real time.
Q: What do you have planned for the future of Winvestment?
A: Our aim is simply to make winners.
We love making people happy and hearing from our customers after they have won and received their prizes.
We want to carry on doing what we are doing now but offering bigger and better prizes until we are giving away life-changing prizes.
We will always have a range of prizes so that anyone can get involved, but it would be truly amazing to give away prizes every week that would have a positive effect on people’s lives and their families.
If we could give away 1kg of gold a week, that would be a nice place to be.
Q: Finally, where would people go to find out more information about Winvestment?
A: Our website contains everything you need to know, you can sign up, subscribe to our mailing list and enter competitions from there.
We also have a Facebook group if you wanted to ask real people what they think and talk to some of our winners.
We also sponsor a buying and selling Facebook group for people interested in gold and silver where we often run free or exclusive prize draws for our members.
You can find our website at www.winvestment.co.uk
All customers will receive one free token on signup which they can use to enter one of our prize draws.
Disclaimer: The articles or blog posts on this website are for general information/opinion purposes only and does not constitute either goldandsilveruk.co.uk or the author(s) providing you with legal, financial, tax, investment, or accounting advice. You should not act or rely on any information contained in the articles without first seeking independent professional advice. Care has been taken to ensure that the information in the articles are reliable; however, goldandsilveruk.co.uk does not represent that it is accurate, complete, up-to-date and/or to be taken as an indication of future results and it should not be relied upon as such.
The site goldandsilveruk.co.uk will not be held responsible for any claim, loss, damage, or inconvenience caused as a result of any information or opinion contained in these articles or blog posts and any action taken as a result of the opinions and information contained in these articles or blog posts is at your own risk. All rights reserved www.goldandsilveruk.co.uk
This website/blog may generate revenue through paid sponsorships, advertising, paid insertions and affiliate partnerships.
goldandsilveruk is a precious metals enthusiast who wants to give authentic, clear, simple, transparent information and opinion to readers. Compensation may influence advertising content, topics or posts made on the blog. However, all paid and/or sponsored content and advertising space and posts would be identified.
All facts and claims made in posts should be independently verified with the manufacturer or provider. If a conflict of interest exists in the content, it may not always be identified.