7 years of gold

markj113

Gadfium wrote: »

《Drums fingers on table,checks watch again, wonder where DiggerUK is to tell everyone how good gold has been for him...》

Why gold? Why not silver, platinum, copper, or the 3.30 at Kempston?

Because silver, platinum and copper attract 20% VAT, gold does not.

Carrieanne

Best place to buy? Hatton Garden Metals. Trouble is they're out of stock most of the time. Next best is Baird & Co (goldline). Coins, British ones, would be the sensible choice as they are CGT free. Britannias and Queen's Beasts offer slightly better value for money than sovereigns. Best place to sell? Hatton Garden Metals. (Incidentally, if you ever want to sell scrap gold, Lois Jewellery in Birmingham pay more than anyone else does.) Is it a good time to buy? With the world drowning in debt, then yes. But that's not to say its price cannot be manipulated lower by those who control its price and create volatility to scare people away from protecting themselves.

Carrieanne

Gadfium wrote: »

《Drums fingers on table,checks watch again, wonder where DiggerUK is to tell everyone how good gold has been for him...》

Why gold? Why not silver, platinum, copper, or the 3.30 at Kempston?

Why gold? You asked.

“Money is gold, nothing else.” JP Morgan, 1912.

DiggerUK

keflin2612 wrote: »

............I have seven years to go before I retire and may or may not need it back when I do.
............Finally is it a good time to INVEST NOW.........

Hi Kevin, allow me to introduce myself, I'm MSE's 'resident gold expert'
Seven years is a perfect time frame. I suspect the gold price will dip in the near future, so I suggest you put your 23k in easy access, and buy in over the next 6-12 months. If it goes below £850 an ounce I would buy straight in. Make a decision your happy with.

Unless your other savings could give you CGT problems, don't bother too much over buying CGT free UK legal tender or bullion. Go cheapest, gold is gold.

Bairds and Hatton Garden are reputable. I would add these two as well. Cost out which is cheapest, p&p, and number you buy make a difference.
https://atkinsonsbullion.com/
http://www.elminvestments.co.uk/gold-coins.html

Something coming up from Royal Mint might also interest you. Full details still to be announced, but it is hinted that a kilo could be stored for free. http://www.royalmint.com/rmg
Only problem is nobody knows how much you will have to initially pay. Advantage seems secure storage..._

Malthusian

Carrieanne wrote: »

Why gold? You asked.

“Money is gold, nothing else.” JP Morgan, 1912.

Well if empirically false statements that an eight-year-old child could disprove from a guy who's been dead for a century won't convince you of the merits of gold as an investment, then nothing will.

cloud_dog

DiggerUK wrote: »

Hi Kevin, allow me to introduce myself, I'm MSE's 'resident gold expert'

Ummm..... _pale_

Gadfium

cloud_dog wrote: »

Ummm..... _pale_

Self-imposed "expert"

badger09

DiggerUK wrote: »

Hi Kevin, allow me to introduce myself, I'm MSE's 'resident gold [STRIKE]expert[/STRIKE] evangelist'

fixed that for you;)

kidmugsy

markj113 wrote: »

Because silver, platinum and copper attract 20% VAT, gold does not.

Not if you hold them as ETCs, or hold silver at the Perth Mint, or at Bullion Vault, and so on.

I plead ignorance: what's the VAT situation if you buy second hand jewellery or old silver coins?

atush

Gadfium wrote: »

Self-imposed "expert"

Fanatic or ramper might better describe.