Degussa Gold Business Re-Launches Tomorrow
The famous German precious metals company
Degussa returns to the bullion markets tomorrow following the
purchase of the venerable company name by a wealthy German family. The
new Degussa business will be a reversion to the original business in the sense that it will be back to selling physical
precious metals to investors. As such, Degussa will be opening their first precious metals outlet in Munich tomorrow, with
ambitions to roll out to several other locations in Germany in the near future. There are also plans for an online gold shop
but no date has yet been set for the launch.
Heading the company will be bullion expert
Wolfgang Wrzesniok-Rossbach who until recently headed sales
and marketing for another leading precious metals house Heraeus Metallhandelgesellschaft prior to which he was a Head of Precious Metals
Trading with Dresdner
Bank AG in Frankfurt. Speaking of
the launch of the business he added "we are delighted to
have the backing of the von Finck family in re-launching
this famous name and we very much look forwards to
developing the retail physical gold business in Germany".
Degussa will be launching a range of 8 minted bullion
bars upwards from 1 gram up and 3 cast gold bars up to a kilo
bar. There will also be a range of gold coins on offer. Like the
original gold business, the new Degussa will bear the familiar chop with a crescent moon and sun said to represent alchemical
symbols for silver and gold. The one ounce
gold bar shown below is one of only 2,000 and marks a special edition to
commemorate the launch on the business, while ongoing bars
will have a chop very similar to the old Degussa mark. The name Degussa is
anabbreviation for "Deutsche Gold- und Silber-Scheideanstalt" (or German Gold and Silver Metals Separating Works).
The original company, which was founded in 1873 centred in
Frankfurt was a leading precious metals refining, trading
and fabrication business with a worldwide presence. In
1999 Degussa AG merged to become Degussa-Huels before becoming Evonik Degussa in 2006.
To visit the new Degussa gold website see :
http://www.degussa-goldhandel.de
Ross Norman
Sharps Pixley, London
www.sharpspixley.com