buying an ounce of gold

SailorSam

I'm watching ITV Griff Rhys Jones on a train journey through Africa, he's in Johannesberg and has said that's where most of the worlds Gold comes from. But you need to dig out a tonne of earth just to get 3 grams of gold.
No wonder it's so expensive.

KrytenIceCubeHead

I used to collect first day covers as a teenager. My eldest brother nicked them and flogged them at school.

davelewis

I did exactly this for my 40th Birthday last year - 1 ounce of gold cost me about £860. It's nice to sit there of a night rubbing it, instead of rubbing something else :-)

markj113

SailorSam wrote: »

I think buying Silver you need to pay Vat, whereas Gold is vat free.

you can get legal tender silver coins vat free from germany.

e.g. - https://www.silver-to-go.com/en/ (They are part of coininvestdirect - https://www.coininvest.com/en/ )

musemad

a krugerand is best

markj113

musemad wrote: »

a krugerand is best

I would disagree. Although well recognised a krugerrand will only ever be spot price + a few %.

Sovereigns & Britannia's have the advantage of being capital gains tax free for the same sort of price and other coins such as Perth Mint lunar series or Chinese Pandas also have semi-numi value too and will go up in price over and above spot price over time.

steelbru

I like the Chinese panda series !

Never considered buying gold before, but half tempted now, not really for the investment aspect, just because it's something different, but at the same time wouldn't really like the value to plummet in case I fell on hard times and needed the money at some point.

Is the future price of gold in general ( not one of the special limited edition series coins ) any more predictable than say shares. eg when interest rates around the world eventually start to rise at some point this year ( US ? ) or next year ( UK ? ) will this likely affect the value much, or is there no real way to tell ?

kangoora

Omg, I just looked at the Royal Mint and they want £1,950 for a 2014 Year of the Horse (which comes in a pretty box)

Clicking through a few other sites they seem to be circa £789 - £796.

That's £1,150 Royal Mint are asking for a wooden box!

markj113

The ones on the Royal Mint are proof coins, the bullion sites are BU (brilliant uncirculated).

Proof coins hold a higher premium but I agree they are overpriced anyway.