Investing in precious metals
Discussion
For a few years now I've been diversifying into gold and silver, only a bit at a time and plan to keep it for a few years to see how it goes. I wouldn't invest most of my money in it but as a side line it's quite fun. Prices seem to be high at the moment so I'm not putting huge amounts in but does anybody else do this?
Actually just thinking of buying into gold now, not necessarily to make lots of money from it (I’m just hitting state pension, it’s more somewhere to park some money other than savings accounts) but in something which is, I believe, less likely to affected by inflation or sudden stock market shocks.
I know nothing about it though, I understand you can buy bars or coins ( I want the actual metal, not bits of paper) and have even seen the stuff at Costco.
Where did you start? I understand bars can be subject to CGT but coins are not?
Any advice very welcome!
I know nothing about it though, I understand you can buy bars or coins ( I want the actual metal, not bits of paper) and have even seen the stuff at Costco.
Where did you start? I understand bars can be subject to CGT but coins are not?
Any advice very welcome!
steveatesh said:
Actually just thinking of buying into gold now, not necessarily to make lots of money from it (I’m just hitting state pension, it’s more somewhere to park some money other than savings accounts) but in something which is, I believe, less likely to affected by inflation or sudden stock market shocks.
I know nothing about it though, I understand you can buy bars or coins ( I want the actual metal, not bits of paper) and have even seen the stuff at Costco.
Where did you start? I understand bars can be subject to CGT but coins are not?
Any advice very welcome!
If buying Sovereigns and Britannia's in coin form then whether Gold or Silver both are free of any potential CGT.I know nothing about it though, I understand you can buy bars or coins ( I want the actual metal, not bits of paper) and have even seen the stuff at Costco.
Where did you start? I understand bars can be subject to CGT but coins are not?
Any advice very welcome!
Gold though are also free from any VAT on purchase unlike Silver.
If buying to keep at home ie in physical form you also need to consider safe storage -probably literally !
I've looked at previously but just concluded it all seems a bit of a faff.
thebraketester said:
Where do you buy it from at a reasonable market price?
ChardsBullionByPost
Atkinsons
Baird Mint
Royal Mint
I'm sure there are more options out there too.
RM are stupidly expensive, though, which makes no sense when they are making the actual products (if you are looking at Britannias to avoid CGT).
They all track the global Spot price with an applied margin that may be larger or smaller than others, and with buy/sell spreads that vary - IIRC Chards has comparison tables but are cryptic as to which other companies are in the tables. lol
Gordon Hill said:
For a few years now I've been diversifying into gold and silver, only a bit at a time and plan to keep it for a few years to see how it goes. I wouldn't invest most of my money in it but as a side line it's quite fun. Prices seem to be high at the moment so I'm not putting huge amounts in but does anybody else do this?
Thread you want is here : https://www.pistonheads.com/gassing/topic.asp?h=0&...Gordon Hill said:
Depends how long you intend to keep it. If it's a long term thing then past price rises dictate that you really can't lose no matter how much you put in, I personally don't want to sink £1600 a time into a 1oz gold britannia so I buy silver ones.
20% VAT on silver coins eats in any returns pretty hard Gassing Station | Finance | Top of Page | What's New | My Stuff