Delivering to:
  • Germany
    Andorra
    Austria
    Belgium
    Bulgaria
    Croatia
    Cyprus
    Czech Republic
    Denmark
    Finland
    France
    Germany
    Gibraltar
    Greece
    Hungary
    Iceland
    Ireland
    Italy
    Latvia
    Liechtenstein
    Lithuania
    Luxembourg
    Malta
    Netherlands
    Norway
    Poland
    Portugal
    Romania
    Slovakia
    Slovenia
    Spain
    Sweden
    Switzerland
    United Kingdom
  • Free Insured Delivery across Europe

    Open menu Close menu Menu
    Open charts menu Close charts menu Charts

    Call us: +44 121 634 8082, 24 hours 7 days a week

    Free Insured Delivery across Europe

    Ounce Gram
    Gold 1 098,19 € 35,308 €
    Silver 12,935 € 0,4159 €

    Updated 21:26 17/12/18

    £ $

    How I Struck Gold on the Internet


    MoneyWeekBy James McKeigue, 11th March, 2013

    The route to becoming an online millionaire didn't quite happen as Rob Halliday-Stein planned. In the final year of his economics degree he and a friend built a student accomodation website. Unfortunately, the dotcom bubble burst and, instead of becoming an internet millionaire, Halliday-Stein went to work for an opticians - Dolland & Aitchison.

    How I Struck Gold on the Internet - Rob Halliday-SteinThere, having impressed in different departments, he was allowed to run its online business. At the time the firm "had a website that it wasn't doing anything with", so Halliday-Stein began to experiment. After seven successful years and now an expert in online retail, he left to help Asda launch the internet side of its George clothing line. But just ten months into the job, Halliday-Stein's mother died. He left the company, determined to make a fresh start. But doing what?

    The answer came from an unexpected source. With the financial crisis in full swing in 2008, Halliday-Stein decided to protect the value of his inheritance by investing some of it in gold. But he found buying gold though. "I wasn't very impressed by the customer service offered by bullion dealers - and none of them had a clue about the internet." He decided there and then that a gap existed for a web-savvy gold dealer. "I knew nothing about storing gold safely, insuring it or delivering it to customers" he says, but fortunately, after a few enquiries, he struck a relationship with a bullion dealer who agreed to handle the supply and delivery. Using some of his inheritance, Halliday-Stein commissioned a website. BullionByPost was ready by May 2009.

    Now Halliday-Stein made full use of the online marketing tricks he'd honed earlier in his career, using search engine optimisation and paid-for results to drive traffic to the site. Helped in part by the worsening economic climate and the rising price of gold, business grew. Halliday-Stein was careful to avoid the fevered, bullish sales pitch of some of his competitiors. "I think gold is something you buy as insurance, not to speculate on getting rich. We didn't weant to try to persuade our customers to invest in gold - but simply to help them once they'd made that decision."

    By late 2009 the firm was growing fast. "We needed more suppliers because our refiner was sometimes out of stock." When Halliday-Steinwas approached by another supplier, he jumped at the chance, but it was a decision that would change his business completely. "they weren't interested in delivering to customers. They'd give us a good price but we would have to store and deliver the gold."

    Halliday-Stein used the rest of his inheritance and director loans to help finance new premises. "It was a turning point because until then if the business went bust I could have walked away. After this I had a lot more to lose." Buying in bulk allowed him to get a better price, while having extra suppliers meant he could widen his offering and start selling coins.

    Last year sales hit £55m and Halliday-Stein is preparing to move to even larger premisies. Does a recent dip in the gold price bother him? No. "There's still lots of potential in Britain and some exciting opportunities in Europe."


    View the full article online on the Money Week website (Subscription required)