7 years of gold

Options
2

Comments

  • markj113
    markj113 Posts: 256 Forumite
    First Post First Anniversary
    Options
    Gadfium wrote: »
    《Drums fingers on table,checks watch again, wonder where DiggerUK is to tell everyone how good gold has been for him...》

    Why gold? Why not silver, platinum, copper, or the 3.30 at Kempston?

    Because silver, platinum and copper attract 20% VAT, gold does not.
  • Carrieanne
    Carrieanne Posts: 122 Forumite
    Options
    Best place to buy? Hatton Garden Metals. Trouble is they're out of stock most of the time. Next best is Baird & Co (goldline). Coins, British ones, would be the sensible choice as they are CGT free. Britannias and Queen's Beasts offer slightly better value for money than sovereigns. Best place to sell? Hatton Garden Metals. (Incidentally, if you ever want to sell scrap gold, Lois Jewellery in Birmingham pay more than anyone else does.) Is it a good time to buy? With the world drowning in debt, then yes. But that's not to say its price cannot be manipulated lower by those who control its price and create volatility to scare people away from protecting themselves.
  • Carrieanne
    Carrieanne Posts: 122 Forumite
    Options
    Gadfium wrote: »
    《Drums fingers on table,checks watch again, wonder where DiggerUK is to tell everyone how good gold has been for him...》

    Why gold? Why not silver, platinum, copper, or the 3.30 at Kempston?

    Why gold? You asked.

    “Money is gold, nothing else.” JP Morgan, 1912.
  • DiggerUK
    DiggerUK Posts: 4,992 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    keflin2612 wrote: »
    ............I have seven years to go before I retire and may or may not need it back when I do.
    ............Finally is it a good time to INVEST NOW.........
    Hi Kevin, allow me to introduce myself, I'm MSE's 'resident gold expert'
    Seven years is a perfect time frame. I suspect the gold price will dip in the near future, so I suggest you put your 23k in easy access, and buy in over the next 6-12 months. If it goes below £850 an ounce I would buy straight in. Make a decision your happy with.

    Unless your other savings could give you CGT problems, don't bother too much over buying CGT free UK legal tender or bullion. Go cheapest, gold is gold.

    Bairds and Hatton Garden are reputable. I would add these two as well. Cost out which is cheapest, p&p, and number you buy make a difference.
    https://atkinsonsbullion.com/
    http://www.elminvestments.co.uk/gold-coins.html

    Something coming up from Royal Mint might also interest you. Full details still to be announced, but it is hinted that a kilo could be stored for free. http://www.royalmint.com/rmg
    Only problem is nobody knows how much you will have to initially pay. Advantage seems secure storage..._
  • Malthusian
    Malthusian Posts: 10,944 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Carrieanne wrote: »
    Why gold? You asked.

    “Money is gold, nothing else.” JP Morgan, 1912.

    Well if empirically false statements that an eight-year-old child could disprove from a guy who's been dead for a century won't convince you of the merits of gold as an investment, then nothing will.
  • cloud_dog
    cloud_dog Posts: 6,044 Forumite
    Name Dropper First Post Photogenic First Anniversary
    Options
    DiggerUK wrote: »
    Hi Kevin, allow me to introduce myself, I'm MSE's 'resident gold expert'
    Ummm..... _pale_
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Gadfium
    Gadfium Posts: 763 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    cloud_dog wrote: »
    Ummm..... _pale_


    Self-imposed "expert"
  • badger09
    badger09 Posts: 11,211 Forumite
    First Post First Anniversary Name Dropper
    Options
    DiggerUK wrote: »
    Hi Kevin, allow me to introduce myself, I'm MSE's 'resident gold [STRIKE]expert[/STRIKE] evangelist'

    fixed that for you;)
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    Options
    markj113 wrote: »
    Because silver, platinum and copper attract 20% VAT, gold does not.

    Not if you hold them as ETCs, or hold silver at the Perth Mint, or at Bullion Vault, and so on.

    I plead ignorance: what's the VAT situation if you buy second hand jewellery or old silver coins?
    Free the dunston one next time too.
  • atush
    atush Posts: 18,726 Forumite
    Name Dropper First Anniversary First Post
    Options
    Gadfium wrote: »
    Self-imposed "expert"

    Fanatic or ramper might better describe.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.3K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards