Gold,silver

Mr_angry_5

i am considering buying gold or silver or both.

i am renting and haven't found the right house to buy yet and before the pound devalues and house prices rocket i would like a lump (big lump 20k or so) of gold or silver or 20 k of each to keep with the economy.
i am thinking of keeping it at home as i dont want shares in the stuff.
is this a good idea (apart from keeping it at home) and where do you buy the real stuff from ?

thanks from a confused MrA.

Generali

Mr_angry wrote: »

i am considering buying gold or silver or both.

i am renting and haven't found the right house to buy yet and before the pound devalues and house prices rocket i would like a lump (big lump 20k or so) of gold or silver or 20 k of each to keep with the economy.
i am thinking of keeping it at home as i dont want shares in the stuff.
is this a good idea (apart from keeping it at home) and where do you buy the real stuff from ?

thanks from a confused MrA.

Clearly there's a security problem and a related insurance one.

The biggest problem with gold is that it pays no income.

If you want a hedge then farm land is much better IMO.

purch

If you want a hedge then farm land is much better IMO

But make sure it still has Hedgerows, not fences !!!!

maninthestreet

Mr_angry wrote: »

i am considering buying gold or silver or both.

i am renting and haven't found the right house to buy yet and before the pound devalues and house prices rocket i would like a lump (big lump 20k or so) of gold or silver or 20 k of each to keep with the economy.
i am thinking of keeping it at home as i dont want shares in the stuff.
is this a good idea (apart from keeping it at home) and where do you buy the real stuff from ?

thanks from a confused MrA.

'Keep with the economy' ??
'..house prices rocket' ??
How do you by shares in a commodity???
Keeping precious metals, other than in form of jewellery,etc, in your home, is fraught with security issues, as others have said, and you may find your home contents insurance does not cover you for any loss.

nrsql

Mr_angry wrote: »

i am considering buying gold or silver or both.

i am renting and haven't found the right house to buy yet and before the pound devalues and house prices rocket i would like a lump (big lump 20k or so) of gold or silver or 20 k of each to keep with the economy.
i am thinking of keeping it at home as i dont want shares in the stuff.
is this a good idea (apart from keeping it at home) and where do you buy the real stuff from ?

thanks from a confused MrA.

Have a look at www.coininvestdirect.com

Think about overcommitting yourself though.
If you think sterling is going to plummet then it's probably a reasonable move.
Gold is very high at the moment and india (one of the biggest markets) has stopped buying - they are actually selling and any new sales are from scrap.

Could mean that gold is going to go down - or could mean that it's going to go up. Whatever happens it doesn't look like it's going to stay where it is - relative to sterling or other currencies.

nrsql

>> How do you by shares in a commodity???

Someone holds a stock and you buy a portion (share) of that stock which remains in possesion of the holder. Actually they would add more to the stock when someone purchases.
Relies on trust like all paper transactions.

WTF?_2

Mr_angry wrote: »

i am considering buying gold or silver or both.

i am renting and haven't found the right house to buy yet and before the pound devalues and house prices rocket i would like a lump (big lump 20k or so) of gold or silver or 20 k of each to keep with the economy.
i am thinking of keeping it at home as i dont want shares in the stuff.
is this a good idea (apart from keeping it at home) and where do you buy the real stuff from ?

thanks from a confused MrA.

There are a number of gold dealers in London (eg. ATS Bullion) if you want to buy physical gold - plus people like coininvestdirect who will sell you coinage online and ship it to you. You can also buy gold over the counter at most of the larger banks in Switzerland. You can bring it into the UK without paying duty but you must declare it to Customs.

Bullionvault let you trade shares in physical gold held in vaults in London, Zurich and New York. You don't get to take actual possession though you do own it. It's more useful for speculating or hedging against out of control inflation - if there was some sort of systemic failure in the banking system you would have problems getting hold of your wealth quickly.


Bear in mind that the prices of precious metals can swing extremely quickly and the gold market in particular is influenced by speculation and possible manipulation by a number of sources. Plus you are exposed to exchange rate risk vs the dollar. Gold is currently pretty much at all time Sterling highs right now following months of gains, even as other asset classes have dropped sharply.

Also bear in mind that gold buying is pretty mainstream in the news/media right now. That can often be a sign that a run is over and the smart money wants to get out (a few months back, that was the case). Take all those things on board. For hedging it's best to limit exposure to 10% of your wealth.

Radiantsoul

Mr_angry wrote: »

i am considering buying gold or silver or both.

i am renting and haven't found the right house to buy yet and before the pound devalues and house prices rocket i would like a lump (big lump 20k or so) of gold or silver or 20 k of each to keep with the economy.
i am thinking of keeping it at home as i dont want shares in the stuff.
is this a good idea (apart from keeping it at home) and where do you buy the real stuff from ?

thanks from a confused MrA.

Why? Are you expecting gold prices to rise? Or are you looking for a safe deposit? Frankly if you are looking to buy a house it is probably easier to save the deposit in a bank.

Generali

I'd definitely agree with what !!!!!! says about no more than 10% of your wealth in precious metals. Basically it's a purely speculative punt as they pay no interest or yield of any sort.

Mr_angry_5

"is this a good idea (apart from keeping it at home"

i do understand that keeping gold stuffed under your bed is careless. lets say i have a better hiding place for arguments sake. and i also know its pretty un-insurable.

"The biggest problem with gold is that it pays no income."

i think gold does pay an income or at least will if you hold on to it for the next 4/5 years or more. are you implying that the banks are paying better incomes ?

"keep with the economy"
my mistake about keeping up with the economy! ours is totally screwed but so is everyones, i ask again with this amended post, to buy or not to buy..... that is the question !!!!!!
seems gold and silver is pretty good stuff to me, by that i mean the real stuff not shares.

lets see if this is answered by someone who doesn't reply about buying hedges for no apparent reason.



"If you want a hedge then farm land is much better IMO." (dork)

Generali

Mr_angry wrote: »

"is this a good idea (apart from keeping it at home"

i do understand that keeping gold stuffed under your bed is careless. lets say i have a better hiding place for arguments sake. and i also know its pretty un-insurable.

"The biggest problem with gold is that it pays no income."

i think gold does pay an income or at least will if you hold on to it for the next 4/5 years or more. are you implying that the banks are paying better incomes ?

"keep with the economy"
my mistake about keeping up with the economy! ours is totally screwed but so is everyones, i ask again with this amended post, to buy or not to buy..... that is the question !!!!!!
seems gold and silver is pretty good stuff to me, by that i mean the real stuff not shares.

lets see if this is answered by someone who doesn't reply about buying hedges for no apparent reason.



"If you want a hedge then farm land is much better IMO." (dork)

No pun intended (really).

How does gold pay an income? It may rise in value which would be a capital gain.

If you don't understand that by buying gold you're buying a hedge then you really haven't got a clue what you're doing.

HTH. Next time I won't bother.