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Stanley Gibbons’ investment division has seen a rise in new business queries from Guernsey following the closure of the Co-op bank in the island. Customers with savings accounts at the Guernsey branch were told their accounts were to close when the bank ceased trading as part of the simplification of Co-op’s business.
Stanley Gibbons’ investment division has seen a rise in new business queries from Guernsey following the closure of the Co-op bank in the island. Customers with savings accounts at the Guernsey branch were told their accounts were to close when the bank ceased trading as part of the simplification of Co-op’s business.
Keith Heddle, Group Investment Director said Stanley Gibbons is seeing a definite rise in interest following the Co-op closure, but it’s not the only factor at this time: ‘The Financial Services Consumer Panel report that criticises some insurance companies and pension providers for their sale of annuities is also making people question what kind of investments they are making. Add to this the recent research by Lloyds Bank Private Banking which has found that 47% of Channel islanders believe their investment portfolios are not well-diversified, and you can see why people are turning to heritage assets like stamps and coins to include in their investment portfolios.’
The latest Stanley Gibbons’ GB250 Rarities Index has grown 244.76% since 2003, equivalent to 13.18 cumulative annual growth. Meanwhile the Stanley Gibbons Rare Coin Index has seen an average compound return of 13.3% over the last ten years.
Rare stamps and coins are tangible heritage assets with strong historical track records which are largely unaffected by volatility seen in other markets. They are increasingly being used to diversify investment portfolios and for wealth protection.
