in Paris, the gold trade prospers in this historic agency

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“I have come to sell a gold bar.” Behind the elegant wood counter protected by bulletproof glass, the foreign exchange tradersagency for the purchase and sale of precious metals Godot & Fils nods politely. This institution created in 1933 is one of the oldest on rue Vivienne in Paris (2nd), where the exchange offices are measured on each side of the sidewalk. Antoine Tahar, its director, gives us the secrets of a business which, although little known, is not experiencing the crisis.

A historic agency

Covering the blind storefront displays, the golden shine of ingots, coins and jewelry contrasts with the ambient grayness of this morning in December 2024. Her gaze sliding from one window to another in the rain, Anne, her head muffled under a hat, stops in front of the Godot & Fils shop.

“I have a medallion that I’m looking to resell,” explains the passer-by, used to frequenting rue de Vivienne. “It’s practical, as everything is concentrated, we can compare offers. And then, you get the money back straight away», she argues, while clutching the jewel, inherited from her family, in her palm. “This one doesn't have much value. But I have already sold baptism medals for example. I need money to help my son,” she explains with a discreet smile.

Created in 1933, the Godot & Fils brand has seen all kinds of customers for almost 100 years. It is the oldest French agency specializing in the purchase and sale of precious metals, assures its current director, Antoine Tahar. In almost a century, the parent company has not changed place. Like its competitors, it remained in the Historic Stock Exchange District . “It was the business center of the time. There was the auction, where we sold and bought back shares,” explains Antoine Tahar. The house traded currency and precious metals. “As there was enormous competition, she specialized in gold exchange.”

With the modernization of banking systems in the 1980s, exchanges became computerized and interest in the yellow metal decreased. In the 1990s, the gold crisis
forces many historic agencies to close shop. “Everything was done with the banks. Those with capital preferred stocks and life insurance to purchasing precious metals. Savings have become dematerialized. » The ingot is losing its value: “It was worth 9,000 euros per kilo”. Ancient history: today, the same quantity sells for 80,000 euros.

Gold, “a safe haven against inflation”

The gold trade flourishes as economic or geopolitical crises succeed one another. “ The worse it gets, the higher its price goes», illustrates Antoine Tahar. And to reread the price of gold on the scale of modern cataclysms. Subprime crisis in 2007: the kilo of gold increases from 14,000 to 45,000 euros in three years. Covid in 2020: it soars to 60,000 euros in a few months, before reaching records at a time when conflicts in Ukraine and the Middle East are raging. Who says war, says inflation, explains the specialist.

Gold has always played its role as a safe haven in times of crisis, it is a shield against inflation. For fear of seeing their savings eaten away by the cost of living, some choose to invest their savings in gold. Every time a war breaks out, people will buy gold, because a geopolitical crisis can lead to debt and inflation situations.

To meet significant demand since 2005, foundries have adapted their formats. The one kilo ingot is now available in smaller bricks: 500 g, 250 g, 100 g…. “It has become accessible . Before 2008, it did not exist,” recalls the expert. The most commonly sold products in his agency? “The 100 g ingot, sold today for 8,300 euros, or the 20 franc Napoleon coin, for less than 500 euros.”

From “good father” to survivalist

Behind the counters, a varied clientele presents itself. Among the buyers of gold, we often find “the good father of the family who diversifies its assets so as not to put all your eggs in one basket: stocks, real estate, and gold,” lists Antoine Tahar. The mind survivalisteHe also knows exchange offices well: “He fears a banking collapse like what happened in Greece and prefers to keep his gold at home.”

More marginal at Gaudot & Fils, the numismaticsrepresents 15% of the turnover of the founding agency. Old so-called investment currencies find their value in relation to their weight in gold. Collectors are interested in rare pieces: “It’s a passion purchase, and not an investment,” specifies the precious metals broker. Other times, grandparents wanting to give their grandson an original gift set their sights on a 10 or 20 franc coin.

Shyly passing through the institution's airlock, Ilham came to inquire about the price of a Louis d'or. “I've never done that, it was a friend who recommended this brand to me. I would like to make a little bracelet with it,” she explains.

Family jewels on the counter

To attract customers, the agency highlights its longevity and expertise. “We are also developing a lot online via our website.” Godot & Fils also buys precious metals from individuals. “What we take the most are family jewelrywhich are much heavier than those manufactured today. They are no longer worn because they are no longer fashionable and because people are afraid of having them ripped off if they wear them,” explains Antoine Tahar.

With the price of gold soaring, these sales are often advantageous. “A bracelet can cost 5,000 euros today,” illustrates the agency director. Ingots received as an inheritance or as a gift are also repurchased by the institution. “We have a lot of sellers at tax payment time, when they need to pay a big bill,” he illustrates.

Spotting scams

The specialists are masters in the art of flushing out fake bars and fake coins. To authenticate the gold, they weigh it, observe it, and ring it. “The density of gold is very particular, so it is very difficult to imitate an ingot. Only tungsten can deceive. On the other hand, there are many fake coins. This is generally quickly noticed by sight, the writing will seem crude to us. » Finally, the origin of the gold purchased is always verified.

The Godot & Fils firm currently has 80 agencies in France. The Parisian market has a prime asset for customers, praises Antoine Tahar. “We have direct competition in the street. We know that the customer is going to look directly, that forces us tobe as competitive as possible. This is why people cross France to buy from us.”

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