Gold coin distributor, Scoin Shop, has come under scrutiny after numerous clients claimed to have been mislead about the growing value of their Mandela medallions.
In an interview 702's John Robbie, managing director Alan Demby said clients didn't take their advice to withhold selling their coins for long periods of time to allow the value to appreciate.
Demby said clients would use the collectibles as a trading method to flip the coins at a quicker rate in order to make profits.
Listen to the interview below:
We've been in the coin market for 40 years. We've always said to invest 30% into cash 30% into property, 30% into shares and the remaining 10% into gold.— Alan Demby, Managing Director of Scoin Shop
It was implicit that you should keep it for a length of time, we then found that people were selling in about 2 years.— Alan Demby, Managing Director of Scoin Shop
This article first appeared on 702 : Should you be worried about the value of your Mandela Scoin medallions?