I wish I'd never bought these gold coins

SailorSam

You're better buying bars rather than coins if you want to invest in gold.

ColdIron

SailorSam wrote: »

You're better buying bars rather than coins if you want to invest in gold.

I don't agree. They are less liquid than coins, often more expensive in smaller quantities and unlike some British coins subject to Capital Gains tax

What do you think are the advantages?

tommysaver

I'll give you a fiver?

markj113

SailorSam wrote: »

You're better buying bars rather than coins if you want to invest in gold.

I would disagree too. Bars are easier to fake and less liquid.

Sovereigns are the best gold to purchase in the UK.

1) CGT free
2) Fractional so you can free up smaller amounts of cash if required.
4) Highly liquid
5) Internationally recognised
6) Low buy/sell spread

Also if you stray into semi numi coins such as Lunars or Pandas they have been shown to provide a higher return than just spot price gains. (Will take additonal time to piece out when selling to maximise profit)

DiggerUK

Penn_1969 wrote: »

...........my coins were worth about £5500, the place I got them from offered me £4600, which is hardly much more than I paid for them.......

Were did you buy them, sounds like you overpaid by a substantial sum.

As to CGT on non UK legal tender, it gets a bit overplayed. The allowance is quite substantial, couples can double up on the annual allowance.
Digger Mansions exchanged our large bars for bullion sovereigns, but kept hold of the smaller bars..._

https://www.gov.uk/capital-gains-tax/allowances

pavane

Shake my head...

The price of gold has risen "since we voted to leave Europe" because GBP has collapsed against USD due to loss of confidence in the UK.

Anyway, you were conned by the marketing of what is a supposed collector's item which targets the older/sentimental types. The price you paid was not fair value. "Investing" in gold is not done by buying "limited edition" pieces off QVC.

Malthusian

ColdIron wrote: »

Gold is not an investment in the usual sense, it's a store of wealth and a hedge against inflation as well a a decent diversifier

It's not a useful store of wealth - nothing that can lose 25% of its value or more in a couple of years is a good store of wealth, and its supposed ability to retain purchasing power in a time of economic collapse is immensely overrated. And it's not a hedge against inflation as it has no intrinsic ability to provide yield or growth. It's simply a commodity, like bushels of wheat, only more subject to the whims of speculators - sometimes it goes down and sometimes it goes up. The fact that it sometimes goes up does not in itself make it a hedge against inflation.

It is true that in times of inflation the gold price often goes up as fear causes people to pile into gold, but this is speculation, not a reflection of intrinsic value.

kidmugsy

A couple of millennia ago an ounce of gold would buy you a decent toga; now it'll buy you a decent suit. Sounds like a decent store of value.

EdSwippet

kidmugsy wrote: »

A couple of millennia ago an ounce of gold would buy you a decent toga; now it'll buy you a decent suit. Sounds like a decent store of value.

Pfft. That's merely keeping up with inflation. Two thousand years is clearly taking too short-term a view here. What we really want to know is how well gold performs over geological timescales.

AnotherJoe

EdSwippet wrote: »

Pfft. That's merely keeping up with inflation. Two thousand years is clearly taking too short-term a view here. What we really want to know is how well gold performs over geological timescales.

Very well, it's survived unchanged for 4.5 billion years, whereas had you invested in Uranium back then, you'd only have half the amount now