Buying Gold Sovereigns

musehead

I bought some sovereigns on ebay a while ago (via a reputable company that sells on there) at the same time as a 10x nectar points promotion. I got them at spot price taking into account the cashback via nectar.

jimjames

As per the post above I recently used Bullion By Post website to order and was very pleased with the service and speed of delivery. 

ColdIron

The London Fix yesterday afternoon was £1,318 per troy ounce

https://www.kitco.com/

Picking Chard at random, they will buy a krug for £1,276

https://www.chards.co.uk/blog/selling-gold-krugerrands/271

So about 3.3% which is in line with what I would expect

Type_45

jimjames said:

As per the post above I recently used Bullion By Post website to order and was very pleased with the service and speed of delivery. 

And there's now a database, which can be stolen or hacked, with your name/address and now much gold you have. 

Type_45

musehead said:

I bought some sovereigns on ebay a while ago (via a reputable company that sells on there) at the same time as a 10x nectar points promotion. I got them at spot price taking into account the cashback via nectar.

That's a good way of doing it.

What puts me off is that by the time you've been ripped off buying it, and then ripped off selling it, you need gold to go up quite a lot in price just to make up for the buying selling processes.

Sea_Shell

I've always fancied having a little bit of gold.   One of those smallest bars*.    Again, I've been put off by the charges to buy, and then re-sell, plus storage costs (if you want them to).

I suppose I could just treat it as a "trinket" rather than an "investment", like a piece of jewellery.

* have no idea as to the current price of one of these!

Bravepants

Like Gordon Brown, I sold off all my gold years ago.

Nebulous2

Type_45 said:

Nebulous2 said:

Gold fluctuates in price quote a bit. I'd see it as a one off, rather than a yearly thing. 

As a child coin collecting was a hobby of mine. On the sale of a family business in the 70s I asked for a Krugerrand. It was around £70 then and is now worth around £1500. Storing it has been problematic, I occasionally have a panic about its location, and it has sometimes been kept by someone else, when I was a student, for instance. 

 I can't remember what my sister got, but whatever it was would be long gone and certainly wouldn't be worth £1500. 

Would you actually get £1500 cash in your hand if you sold it?

It's academic, as I have no intention of selling. They are very readily sold however. I see they are down a bit now. The £1500 must have been during the earlier stages of the pandemic. 

jimjames

Type_45 said:

jimjames said:

As per the post above I recently used Bullion By Post website to order and was very pleased with the service and speed of delivery. 

And there's now a database, which can be stolen or hacked, with your name/address and now much gold you have. 

Ha ha. That database would show I own zero gold. It also has no indication that the destination for my purchase was the address given.

Type_45

jimjames said:

Type_45 said:

jimjames said:

As per the post above I recently used Bullion By Post website to order and was very pleased with the service and speed of delivery. 

And there's now a database, which can be stolen or hacked, with your name/address and now much gold you have. 

Ha ha. That database would show I own zero gold. It also has no indication that the destination for my purchase was the address given.

They will only send the gold to your billing address. I've looked into all that for this reason.

Let's hope their database is more secure than the crypto currency hardware device maker 'Ledger'. Ledger's customer's details have been on the dark web for over a year now. 250k of them with name, email, phone number and full postal address details.

Any company can be hacked.