Buying gold coins and bullion
Discussion
Been getting fed up with the ups and downs of stock market fluctuations and looking to invest money in other areas.
Does anyone have any recommendations on where to buy gold coins and bullion from?
Been looking at sites like Royal mint and bullionbypost to get a general idea but willing to learn more before making a purchase.
I know everything is finally down to the gold price but only buying small scale to begin with.
Considering silver or platinum too
Does anyone have any recommendations on where to buy gold coins and bullion from?
Been looking at sites like Royal mint and bullionbypost to get a general idea but willing to learn more before making a purchase.
I know everything is finally down to the gold price but only buying small scale to begin with.
Considering silver or platinum too
saknog said:
Does anyone have any recommendations on where to buy gold coins and bullion from?
I know it's not the question you asked, just throwing this in as you may not have considered,Rather than physical gold, which gives you all the hassle and risk of storing and insuring, have you considered somthing like a "precious metals" exchange traded fund (etf)? eg, https://www.ishares.com/uk/individual/en/products/... (not financial advice)
The other thing to bear in mind is that gold is trading at record highs largely due to the instability following covid and now Ukraine. Sooner or later these things will stabilise, and gold will fall back in value.
There have been several previous discussions about this, the longest running one here > https://www.pistonheads.com/gassing/topic.asp?h=0&...
Pros and cons ..
Pros and cons ..
saknog said:
I guess I’m really considering them as an alternative investment as nothing else seems to be giving me steady returns
I’m not looking for get rich quick investments so would be holding them for the long term, a bottom draw investment so to speak
There's very little that will give you guaranteed returns outside of government bonds or fixed rate savings IMO.I’m not looking for get rich quick investments so would be holding them for the long term, a bottom draw investment so to speak
It's the old risk reward things and gold can be volatile just as equities can be.
105.4 said:
C69 said:
saknog said:
Considering silver or platinum too
In the UK, VAT is charged on silver and platinum purchases, but gold is currently exempt.Every day is a school day.
Edit: I'm not sure if that's just Brittannias / Sovereigns etc. or all forms of the metal.
There has been a lot of chatter about BRICS proposals and potential for gold to revalue / moon - worth a read up, perhaps.
Edited by RSTurboPaul on Monday 4th September 00:58
shtu said:
The other thing to bear in mind is that gold is trading at record highs largely due to the instability following covid and now Ukraine. Sooner or later these things will stabilise, and gold will fall back in value.
It may do, but since 2000 any peaks in price/recent highs, have always been subsequently beaten, ie simply waiting meant you'd catch back up and go higher. Perhaps we will see a long and sustained drop from here (like the 1980's to 2000's), but equally if we get some sort of financial crisis event or just continued money printing then it could move up again quickly past the current all time high?
saknog said:
I guess I’m really considering them as an alternative investment as nothing else seems to be giving me steady returns
I’m not looking for get rich quick investments so would be holding them for the long term, a bottom draw investment so to speak
The counter argument is Gold gives you zero returns! I like Gold and in many countries (of less stability, politically/monentarily) Gold is the first (not last) savings/investment, whereas here it might be premium bonds? I’m not looking for get rich quick investments so would be holding them for the long term, a bottom draw investment so to speak
For some people it seems pointless and expensive and for others is can become obsessive/fanatical, when I think about the first I just remember the governments hold it/value it and they can print their own money, and when I think about the second I remember that the majority of the world still has the first view!
RSTurboPaul said:
IIRC Gold and Silver don't attract Capital Gains tax when sold, but I'm not sure about Platinum.
Edit: I'm not sure if that's just Brittannias / Sovereigns etc. or all forms of the metal.
There has been a lot of chatter about BRICS proposals and potential for gold to revalue / moon - worth a read up, perhaps.
Legal tender coins are CGT free.Edit: I'm not sure if that's just Brittannias / Sovereigns etc. or all forms of the metal.
There has been a lot of chatter about BRICS proposals and potential for gold to revalue / moon - worth a read up, perhaps.
Edited by RSTurboPaul on Monday 4th September 00:58
So Sovereigns, Brittannias do not attract CGT, bullion and foreign coins do. Uk coins that are not legal tender would attract CGT, Gold Guineas and older hammered coins for instance would.
Bullionbypost are great, really cant fault them, who I use most of the time, as are Chards.
Also local auctions are handy especially if you dont mind buying mounted sovereigns.
Edited by nikaiyo2 on Monday 4th September 11:32
nikaiyo2 said:
RSTurboPaul said:
IIRC Gold and Silver don't attract Capital Gains tax when sold, but I'm not sure about Platinum.
Edit: I'm not sure if that's just Brittannias / Sovereigns etc. or all forms of the metal.
There has been a lot of chatter about BRICS proposals and potential for gold to revalue / moon - worth a read up, perhaps.
Legal tender coins are CGT free.Edit: I'm not sure if that's just Brittannias / Sovereigns etc. or all forms of the metal.
There has been a lot of chatter about BRICS proposals and potential for gold to revalue / moon - worth a read up, perhaps.
Edited by RSTurboPaul on Monday 4th September 00:58
So Sovereigns, Brittannias do not attract CGT, bullion and foreign coins do. Uk coins that are not legal tender would attract CGT, Gold Guineas and older hammered coins for instance would.
Silver interests me.
It used to be a monetary metal prior to the discovery of the usage of it's properties in electronics and medicine, it has centuries of history as coinage (US dimes were 90% silver until 1965) and in those times the thought of a coin made from base metals wouldn't have cut it. Now we have 'moved on' to almost full faith in notes/electronic balances and the notion of personally having these precious metal coins is seen in varying lights, but generally in the indifference to ridicule range!
But read the Fiat money description https://en.wikipedia.org/wiki/Fiat_money we and our parents are the living experiment of it, it's our norm, it's all we know. All civilisations before couldn't break away from some sort of commodity backing for money and it remains to be seen if in the following generations, we will continue as we have been or whether something forces us back (wards?). This is where you get the (generally older) 'sound' money proponents from, and the push back is that you don't need that anymore and never will again.
My fag packet calculations, show 20M people buying x4 ounces a month would clear out the annual global production of Silver. So say the UK auto enrolment/private pension contributions alone (this is a total guess) if diverted to Silver would likely clear the global production each year, which would obviously squeeze the price?
Also for perspective, with the "Trillions of dollars" phrase now being common place, a Trillion dollars in dimes of the 1965 90% Silver content form, would require (I'm going to check my calculations as this surprised me) over 700 years of current Global Silver annual production to recreate! That's 'only' $3,050 per person in the US, so to create those 30,500 dimes a person would take 700 years (under the financial circumstances of less than 60 years ago?) This highlights the US's ability to print money has been massively accelerated in recent decades compared to when they were restricted by a full or partial physical backing.
I don't know what the following means exactly (a disconnect?) but it does feel that if you are today paid £28.50 for some work that could be in the form of 8 ounces of £1 coins, you get effectively £2's worth of physical Copper (pound coin is mainly not purely copper) which you could instantly exchange for 1oz of Silver, but the same payment 'system' could not operate paying everyone, directly that ounce of Silver for the same work?
The arguable beauty of having Silver is that we consume so much of what is mined , as we need it for everyday life products, that at worst (ie assuming no return to any monetary aspect) it tracks up roughly with inflation and the trend that mining it will likely become more expensive over time and we'll have to pay an increasing amount for it. You can invest in paper/electronic silver ETF's but you need to have the physical stuff to make real working goods, I don't think anyone claims that the paper to physical ratio of Silver is one to one, everyone accepts there are far more paper claims on Silver than Silver that exists above ground, some estimates put this well over 100-1 so for some holding it is the only way to truely own it and the best way to perhaps realise it's true worth (if all the paper claims had demanded physical delivery the price would have to be significantly higher already?)
Anyway read some articles from both positive and negative sentiment and then buy some or don't but it'll always be worth something and if it's bought with money you know you won't need in the short term then I truely beleive the odds are in your favour for it to go up over time, for you or your descendants.
It used to be a monetary metal prior to the discovery of the usage of it's properties in electronics and medicine, it has centuries of history as coinage (US dimes were 90% silver until 1965) and in those times the thought of a coin made from base metals wouldn't have cut it. Now we have 'moved on' to almost full faith in notes/electronic balances and the notion of personally having these precious metal coins is seen in varying lights, but generally in the indifference to ridicule range!
But read the Fiat money description https://en.wikipedia.org/wiki/Fiat_money we and our parents are the living experiment of it, it's our norm, it's all we know. All civilisations before couldn't break away from some sort of commodity backing for money and it remains to be seen if in the following generations, we will continue as we have been or whether something forces us back (wards?). This is where you get the (generally older) 'sound' money proponents from, and the push back is that you don't need that anymore and never will again.
My fag packet calculations, show 20M people buying x4 ounces a month would clear out the annual global production of Silver. So say the UK auto enrolment/private pension contributions alone (this is a total guess) if diverted to Silver would likely clear the global production each year, which would obviously squeeze the price?
Also for perspective, with the "Trillions of dollars" phrase now being common place, a Trillion dollars in dimes of the 1965 90% Silver content form, would require (I'm going to check my calculations as this surprised me) over 700 years of current Global Silver annual production to recreate! That's 'only' $3,050 per person in the US, so to create those 30,500 dimes a person would take 700 years (under the financial circumstances of less than 60 years ago?) This highlights the US's ability to print money has been massively accelerated in recent decades compared to when they were restricted by a full or partial physical backing.
I don't know what the following means exactly (a disconnect?) but it does feel that if you are today paid £28.50 for some work that could be in the form of 8 ounces of £1 coins, you get effectively £2's worth of physical Copper (pound coin is mainly not purely copper) which you could instantly exchange for 1oz of Silver, but the same payment 'system' could not operate paying everyone, directly that ounce of Silver for the same work?
The arguable beauty of having Silver is that we consume so much of what is mined , as we need it for everyday life products, that at worst (ie assuming no return to any monetary aspect) it tracks up roughly with inflation and the trend that mining it will likely become more expensive over time and we'll have to pay an increasing amount for it. You can invest in paper/electronic silver ETF's but you need to have the physical stuff to make real working goods, I don't think anyone claims that the paper to physical ratio of Silver is one to one, everyone accepts there are far more paper claims on Silver than Silver that exists above ground, some estimates put this well over 100-1 so for some holding it is the only way to truely own it and the best way to perhaps realise it's true worth (if all the paper claims had demanded physical delivery the price would have to be significantly higher already?)
Anyway read some articles from both positive and negative sentiment and then buy some or don't but it'll always be worth something and if it's bought with money you know you won't need in the short term then I truely beleive the odds are in your favour for it to go up over time, for you or your descendants.
Regbuser said:
Yes, I like this design the most > https://www.bullionbypost.co.uk/gold-bars/good-del...
1% off and free delivery, looks like a bargain Gassing Station | Finance | Top of Page | What's New | My Stuff