Gold coins or gold bars

newtimes2021

I'm asking this question on behalf of an elder family member who doesn't go online much.

Some cultures/families invest in gold jewellery 'for the future' and 'just in case'. Whilst some families wear it, no one does in ours. So you'll end up with unworn jewellery on the shelf which seems like a waste. People don't even like them as gifts anymore. 

My relative was thinking, before his passing, he wants to give something else instead like gold coins or bars for the grandkids but we don't have a clue where to buy it from and anything we need to know around it. 

With many shops in our area not even accepting cash nowadays and wanting to replace the tradition of giving gold jewellery, he'd like to buy gold coins and bars. 

I've checked royal mint but that's about it. 

Does anyone have any advice? It is quite a tradition thing to give gold jewellery so maybe most in the UK won't understand this culture as it's not something that's done but it is the way if certain cultures so I want to help my elderly relative. Does anyone have any advice? Not looking for advice for other things like buying shares or stocks or opening bank accounts etc. 

sourcrates

Wow, well todays gold price is approximately £1,300 per ounce, so an expensive gift indeed.

Simply use Google, I did, thousands of gold retailors came up, its up to you to sort the wheat from the chaff.

tacpot12

BullionByPost seem to be well set up to supply your family member. They deliver gold using an insured postal service, so providing the gold is sent to a family member at home, it should arrive safely or the cost refunded.  

I do understand that some cultures value gold as gift, and I applaude the attitude of giving/sharing wealth around the family.

The biggest issue for the receiver is where and how to store their wealth. Any worthwhile amount of gold really needs to be stored in a (very good) safe. If you buy a new safe, you can check the insurance rating - I would get one with at least a £10,000 valuables rating. But you would do better to buy a second-hand safe from safe dealer. You will get a much better safe than you can afford new.

lr1277

There are a number of gold threads on the Savings & Investment board. A number of retailers are recommended. I would look/search there.
Off the top of my head I have seen Chard and I think Atkinson (sp?) recommended.