Goldie founder Cam Maclachlan hopes adding silver to his platform will give more Kiwis the chance to diversify their portfolios and build wealth in a way previously out of reach.
Goldie founder Cam Maclachlan hopes adding silver to his platform will give more Kiwis the chance to diversify their portfolios and build wealth in a way previously out of reach.
New Zealand gold investment platform Goldie is expanding into new materials and assets as it builds on a strong first year in business.
Launched in November last year, the platform allows investors to purchase fractions of shares of physical assets.
It currently offers investors the chance to purchase decigram sharesof gold, but now it is expanding its offering to include silver.
Goldie founder Cam Maclachlan said the business had worked behind the scenes on its platform in preparation for the expansion for at least a year.
“By adding silver to our platform, we’re giving more Kiwis the chance to diversify their portfolios and build wealth in a way that was previously out of reach for many,” Maclachlan said.
“It’s also going to create a really fun experience within the platform where your digital vault that you can view is going to start adding and you’re going to almost start curating what’s in your vault within the app.”
Silver, like gold, has historically been a stable, long-term investment. Maclachlan hopes that adding the asset to the platform's offering will help continue to drive its growing investor base.
The bars users purchase shares of are stored in Wellington with New Zealand Vaults, the oldest treasury-grade vault in New Zealand.
It was formerly a BNZ bank vault but now operates as a private and highly secure storage area for some of the wealthiest New Zealanders.
Maclachlan confirmed there was more than a million dollars in gold currently in the vault.
He believes having a physical asset to invest in provides a different experience for investors, particularly those who are investing for the first time or those unfamiliar with the inner workings of traditional stock markets.
This is especially true when considering investors are able to go and see the bars themselves, with permission.
It’s also a key differentiator compared to the likes of Bitcoin and other cryptocurrencies.
“If you look at where gold was trading in the 1970s compared to where it is now and you zoom out from that approach, you see how gold operates and why it’s used as an asset to diversify your portfolio.”
“I think the beauty of Goldie’s platform is that in the uncertainty of what’s happening next, this thing’s real, it’s just there no matter what happens, it’s still sitting in a vault in Wellington.”
Goldie has ensured that users can trade gold at the same price per gram as traditional gold investors pay for a one-kilogram bar, with investors able to get shares for as little as $10.
The platform also only deals in investment-grade gold bullion that is 99.9% purity, with Maclachlan confirming silver will be of the same quality.
This is achievable through a partnership with Catalist, a licensed and regulated stock exchange for small to medium-sized growth businesses.
Maclachlan hopes silver’s addition to the platform will lead to an increased number of investors.
Since its launch, the platform has grown to just short of 13,000 investors with more than $2 million in trades.
Interestingly, a majority (55%) of the platform’s investors are female and under the age of 34 (65%).
The average value of investors' vaults has also grown substantially, up from $115 initially to over $400.
“This is proof that we’re changing the face of investing,” Maclachlan said.
“I think no one probably sees yet how disruptive or how innovative we’re being while we’re still in our beta phases.”
Goldie co-founders Glen Jenkins (left) and Cam Maclachlan inside the safety deposit vault. Photo / The Spinoff
Maclachlan already knows what is coming next for the platform, with intentions to add platinum as an investable asset, with art and other rare collectables like cars further down the line.
Being majority self-funded by Maclachlan himself, he’s proud of how far the platform has already come.
“For me, this is my purpose, this is my passion, this is my job and I’m driven to hear what the community wants.”
“I just want to keep making this as much fun for myself and living through this brand.”
Tom Raynel is a multimedia business journalist for the Herald, covering small business and retail.
