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How to buy gold (and sell it later without losses)

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Posts: 387 Forumite


Since British Pound is going to become weaker I am thinking about safe heaven for my savings. One of the options is gold (and not gold derivatives!).
Who could describe how to buy (and later sell) gold coins or gold species without overpaying too much to bank?
I have not found anything on moneysupermarket.com about this
Who could describe how to buy (and later sell) gold coins or gold species without overpaying too much to bank?
I have not found anything on moneysupermarket.com about this
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Comments
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If the reason you want to buy gold is because the pound is going to become weaker (your words), why not buy the currency you think it is going to get weaker against?“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0
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Its less shiny and also that would be hard to predict as it will probably be a mix of the asian currencies, do you really want euro or dollars when they are in a bigger mess arguably0
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Ahh, my favourite subject (no surprises there)!
I've bought from goldline (Bairds) and from ebay (yes- ebay!...sometimes the prices undercut goldline for Krugerrands and ingots)...selling? Ebay and any gold dealer who buys bullion. If the price goes where I think it will then paying a little extra premium now and losing a little in commission fees won't make a lot of difference.
Not saying this is the best or only way to do it at all- just a practical way I know of...A cynic is a man who knows the price of everything but the value of nothing. (Oscar Wilde)
We all pay for life with death, so everything in between should be free. (Bill Hicks)0 -
sabretoothtigger wrote: »Its less shiny and also that would be hard to predict as it will probably be a mix of the asian currencies, do you really want euro or dollars when they are in a bigger mess arguably
That's kind of my pointThe OP seems convinced the pound is going to get weaker, which means other currencies are going to get stronger. So why buy gold? Is it any easier to predict than currencies? At least with currencies you can go on holiday there and spend it!
“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
Since The British Pound might become weaker'In nature, there are neither rewards nor punishments - there are Consequences.'0
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That's kind of my point
The OP seems convinced the pound is going to get weaker, which means other currencies are going to get stronger. So why buy gold? Is it any easier to predict than currencies
Assuming a gold price of US$1,000 per ounce, or $32,500 per kilogram, the total value of all the gold ever mined would be around $4.5 trillion. This is less than the value of circulating money in the U.S. alone, where more than $7.6 trillion is in circulation or in deposit (source-wikipedia)...and this is before the 'stimulus' packages (ie-printing more worthless paper).
Pretty much suggests that all currencies will be devalued against gold...A cynic is a man who knows the price of everything but the value of nothing. (Oscar Wilde)
We all pay for life with death, so everything in between should be free. (Bill Hicks)0 -
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You do realize that we abandoned the gold standard in 1931?
The only time gold would need to be revalued is in the case that we re-adopt the gold standard, surely? Do you think that's going to happen?“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
Thread title: How to buy gold (and sell it later without losses)
If somebody could write a book with that title, they'd make billions! Perhaps the OP shold consider it!You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0
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