Best place to buy gold sovereigns

shaun_from_Africa

Ive looked at the royal mint website - I think they can be trusted.

But you are paying through the nose for that trust.
Their current selling price for a 2011 bullion grade sovereign is £285.

You can get them from various recognised dealers for far less.
http://www.elminvestments.co.uk/gold-coins.html £226
which is less than 3% above spot.
I've bought from Elm many times and have never had a problem with them.

sabretoothtigger

Greece is not important, its a scarecrow in a minefield and they just put a cute hat on it
Arguably USA is as bad as Greece in its debt and inability to handle higher rates. Greece might be fine too if they could sell 10 year debt for 2% but they cant and maybe one day USA will face that too

In the longer term I doubt that gold will be worth anything much at all - after all you can't actually use it for anything practical such as eat it or build something with it

In the long term gold has always kept its worth where as paper money does not hence we have a repeat.
I agree, you cant do much with it but you also cant destroy it easily. Its very rare and its most practical use is a store of wealth without any interest.

Why would the gold price go up at all if it is so easily viewed as useless because its main use has increased massively. Its alternative to paper money is incredibly valuable to banks desperate to prove credibility like Russia who have previously defaulted or India with inflation.

The biggest gain in gold price is a long way off yet because Dollar is the biggest paper money and it has not been questioned yet, when it is then you see gold at its greatest demand and greatest price. Dollars back everything and every person on the planet is affected by them, when that goes down alternatives to it will go up

King_Of_Bling

shaun_from_Africa wrote: »

You can get them from various recognised dealers for far less.
http://www.elminvestments.co.uk/gold-coins.html £226
which is less than 3% above spot.
I've bought from Elm many times and have never had a problem with them.

How much is the postage from this place? I don't think you can order online, and have to phone them instead. I'm bookmarking the cheapest places for when gold prices reach reasonable levels.

shaun_from_Africa

I was charged £10 for postage and this was for next day delivery for a shipment valued at around £2000.

King_Of_Bling

shaun_from_Africa wrote: »

I was charged £10 for postage and this was for next day delivery for a shipment valued at around £2000.

Thanks, only damn thing is it's gone over $1510 T/Oz today :mad:

C_Mababejive

To the OP..what is your exit strategy? Will you just keep the sovereigns or are you planning to sell them at some point?

What if the price dips...? Gold coins arent very negotiable,especially in a falling market.

atush

Which is why I haven't bought any, but bought gold thru my online brokers acct as I can sell it (will cost me 17.95 I think but less than the spread and postage the OP was charge over the spot price).

I agree, gold is holding and rising due to currency devaluations by way of quantative easing by the US gov as it is priced in USD. Playing aginst the US currency and for gold is not a bad move, but you have way overpaid.

sabretoothtigger

It should be kept as cash would be but not in excess.

Gold coins arent very negotiable

I think the point is they are a very liquid market. Price of gold hasnt crashed for ages, its drifted. Im not sure its been profitable recently but a sudden rise in the worth of sterling seems unlikely, they are determined not to raise rates and are no where close to 5% it should be

Today's Fine Gold Price (E&OE)
£954.11 per ounce

ashaput

This is what I want to do for so long. But I think will wait for the price to drop first.

experience08

atush wrote: »

Which is why I haven't bought any, but bought gold thru my online brokers acct as I can sell it

Do mean somewhere like BullionVault or ETF gold securities?