Is buying gold a good idea?

atush

My take on antiques is that they may well be expensive, they may or may not hold their value, but so long as they're of use to me, then I'm getting some moneys worth out of them.

This is my view on antiques. I like them, but I buy ones I can use (so dont have to buy the brand new equivalent). I have silverware i actually, use, a grandfather clock that tells the time, chests and other furniture that provide storage. And they wont have lost 50%+ the min I get them home from the store.

cashbackproblems

I buy kruggerands and uk soveriegns usually one coin a year, yes you can buy an etf but you have management and custody fees and gold is generally quite liquid and historically stable

Next one on the list is canadian maple leaf

DiggerUK

As MSE's resident gold expert, I have to agree that you need to do some more research. Here's a good starting point.
http://moneyweek.com/beginners-guide-investing-in-gold/

On a more general level, you should view holding gold as a long term saving plan. Fantastic returns can be made in a very short space of time.......but only if good fortune is with you.

I suspect you are a lot younger than me; there will be more immediate financial targets for you to hit e.g., clearing or obtaining a mortgage..._

badger09

DiggerUK wrote: »

As MSE's resident gold expert ..............

Self proclaimed and evangelistic;)

AndyT678

DiggerUK wrote: »

As MSE's resident gold expert, I have to agree that you need to do some more research. Here's a good starting point.
http://moneyweek.com/beginners-guide-investing-in-gold/

On a more general level, you should view holding gold as a long term saving plan. Fantastic returns can be made in a very short space of time.......but only if good fortune is with you.

I suspect you are a lot younger than me; there will be more immediate financial targets for you to hit e.g., clearing or obtaining a mortgage..._

Moneyweek wrote:

This article was written by Mark O’Byrne, Head of Research at GoldCore.

Gosh - a man who works for a company that buys and sells gold thinks that you should buy gold.

I wonder why he thinks that?

I'm sure it must have been because he has your particular best interests at heart. There can't possibly be any other reason can there? :huh:

warehouse

cashbackproblems wrote: »

I buy kruggerands and uk soveriegns usually one coin a year, yes you can buy an etf but you have management and custody fees and gold is generally quite liquid and historically stable

Next one on the list is canadian maple leaf

Similar here. I buy a full sovereign every year, maybe another gold coin if funds permit, and 6 or 7 silver coins. Absolutely not for investment purposes but because I'm a bit of a coin freak.

OP I use coininvest.com, based in Germany.

ripplyuk

I really appreciate all the replies. My partner doesn't have a portfolio of any description. He is very likely to leave this money sitting in the bank (in his current account too). So I'm thinking it might be better to buy gold than leave the cash sitting doing nothing. Though I guess it's still risky that he could lose money.

He wants this gold in his hand, not just a certificate of it. I've just been googling about forgeries which is worrying. Is there any way to know for sure if the stuff is real? Is it safest to buy it from the royal mint?

warehouse

You've already had the best 2 sites quoted above, bullionbypost and coininvest. Go check them out, then compare the same coins to the royal mint prices and you'll see.

In fact I'll do it now...
2017 Gold Sovereign (full) - (price for 1)
Coininvest £237
Bullionbypost £238
Royal Mint £430 (oh look, it comes in a little box)

Stick with the top 2 OP.

cashbackproblems

I use bullion by post and have done for many years no forgeries and fees are very small.

_CC_

What does he mean by "physical"?

If he means physically hoarding it in the house then that brings about its own issues unless it's a fairly minimal amount in which case tell him to fill his boots.

If he just means gold as a commodity then it's not clear to me why gold is "physical" yet part ownership in companies that have land, buildings, machinery etc. are not.