Daniel Barrett aims to provide investors with a safe and comfortable place to invest

Daniel Barrett, founder of Plutus Software and co-owner of Pacific Precious Metals, was interviewed by Adam Torres on the Mission Matters Money Podcast.

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Daniel Barrett says it wants to give investors a local place to physically acquire the metal, rather than in a faceless network environment.

“It makes a lot of sense to have a small percentage of your portfolio or all of your investment assets in physical gold,” says Barrett, referring to the complex range of geopolitical and economic economies that revolve around the world every day.

Gold has been around for 6,000 years, he says, and has stated that it will not disappear. With its four locations around San Francisco Bay, Pacific Precious Metals offers people the opportunity to buy and sell precious metals online or in person and then pick them up at one of their physical locations. It intends to expand its presence nationwide.

“Buying from a single internet retailer is not the best way to buy gold,” he says. “They’re more expensive than most of the local players. Most local players don’t have the technology to offer it to local buyers, which is the reason behind Plutus Software. ” Plutus, he explained, is a emerging platform for gold and collector sellers with built-in technology to make their sales online to help serve local markets.

See the full interview:

How did you get started as an entrepreneur?

After the 2008 crisis, the hedge fund Barrett was working on closed its doors. He was already investing in physical gold, but at the time, there wasn’t much technology available for that in particular, and he thought there weren’t many vendors he could trust, so he set up his own gold business. Within a few years, it is more committed than ever to building a technology platform that vendors can use.

What do you think are good alternative investments?

Barrett says he believes investing in cryptography is the equivalent of investing in “digital gold”. He believes that people should have a little bit of cryptocurrency, given the regulatory risks associated with it. It encourages people to do research before investing.

It also emphasizes the importance of investing in hard assets. “If your bank goes down … how can you get the money out?” he asks. “It’s the same with stockbrokers, but your gold will be buried in a safe. So hard assets are key. ”

How can Pacific Precious Metals help?

Pacific Precious Metals allows you to place your order online, pay for it, enter it and pick up and test your precious metals, Barrett explained.

“When I started the business, I was paranoid. How do you know if it’s real gold? It may have gold (looks), but how can I validate that yes gold? You cannot cut the coin or bar in half. How do you make it non-destructive? So we test the element visually, using X-ray fluorescence, specific gravity and conductivity tests. ”

At Pacific Precious Metals, customers can buy gold, silver, platinum or palladium.

“I usually tell people that platinum or palladium is not like gold and silver. You have to understand these markets to know what drives them, ”he says. “It’s not money, it’s an industrial metal. If you invest in some of these less marketed metals, spend a lot of time figuring out what moves them so you know what to expect over time. These are the basics that people can invest in at some point. ”

What is Plutus Software?

Plutus Software is a SaaS platform where gold and collection vendors can make transactions. It provides a cloud-based platform where local sellers can link a leading website to an inventory system and list it on eBay or collectors ’corner at the same time. .

The road in front

Daniel’s goal, he said, is to create a software platform where vendors from across the country can compete, and individuals can go and buy and sell their gold safely and confidently.

Visit Precious metals of the Pacific to learn more.