Best place to buy gold sovereigns

atush

I hold it thru Barclays. Can't remember the name of the investment off hand (i'd have to log in and look it up), but it isn't an ETF. But an ETF that holds physical gold rather than a mining share or a synthetic ETF could be an idea.

happybirthday2

Hi everyone
I am very interested in investing about £5000 in buying either gold sovereigns or the small bars. I know very little about which is best or how or where to buy. Also what happens when you get your gold - do you hide it under the floorboard and is it easy to sell?
Are you allowed to carry it abroad with you if you move??

See, I said I didnt have a clue. Any advice on where to find out the truth about these sort of questions. I dont want to get conned on the internet.

I'd be grateful for any help.
Thanks

sabretoothtigger

I dont think there is any restriction on movement of gold for the UK or europe.

Bars I think will be taxed on any gains but coins wont

DiggerUK

happybirthday2 wrote: »

..... I don't want to get conned on the internet....

Perish the thought.
..._

MoneySaverLog

When you buy gold sovereigns off the internet / ebay how do you know you are getting gold, and not a fake?

I think Physical Gold ETF may be a better option, and you can ISA it.

IzzyFreedman

MoneySaverLog wrote: »

When you buy gold sovereigns off the internet / ebay how do you know you are getting gold, and not a fake?

I think Physical Gold ETF may be a better option, and you can ISA it.

As long as you understand it is just a bit of paper, a derivative of gold. There are hundreds more bits of paper promises of gold and silver in the world than every real ounce of physical bullion in the world.

merlingrey

MoneySaverLog wrote: »

When you buy gold sovereigns off the internet / ebay how do you know you are getting gold, and not a fake?

I think Physical Gold ETF may be a better option, and you can ISA it.

You use reputable dealers such as Baird & co (https://www.goldline.co.uk)

and i have used http://www.thegoldbullion.co.uk/

You know if you have a fake coin if you weigh and measure it because gold has a specific density, it cannot be faked without the diameter and or thickness being off or the weight being off.

C_Mababejive

On the subject of sovereigns and buying from dealers at 3% and more over spot, who do the dealers buy from and why cant i buy from their source?

sabretoothtigger

merlingrey wrote: »

cannot be faked without the diameter and or thickness being off or the weight being off.

It should be fairly simple plus a sovereign is a pretty dam small coin to be messing around with.

Some expert could refound it perhaps but we only talking 300 quid and as said above, most of it has to be close to 22ct gold or it'll just be obviously incorrect size/weight.

Gold is a unique element, it cant be faked, get a soverign holder that fits them exactly and the weight is easy with digital scales nowadays.
The closest thing is tungsten apparently but even then it'll be off and this will be done to bars or at the least the much bigger krugerrands

ebay danger would be standard risk, this aint what i ordered

merlingrey

sabretoothtigger wrote: »

It should be fairly simple plus a sovereign is a pretty dam small coin to be messing around with.

Some expert could refound it perhaps but we only talking 300 quid and as said above, most of it has to be close to 22ct gold or it'll just be obviously incorrect size/weight.

Gold is a unique element, it cant be faked, get a soverign holder that fits them exactly and the weight is easy with digital scales nowadays.
The closest thing is tungsten apparently but even then it'll be off and this will be done to bars or at the least the much bigger krugerrands

ebay danger would be standard risk, this aint what i ordered

Tungsten is extraordinarily strong compared to what you would strike the coin with for the die strike, if you tried to die strike tungsten it would explode into bits.