considering saving in gold bullion

HunterBurgan

Anyone any previous experience/ dealing in doing this please?

Considering doing it myself; buying it and putting it in the safe and selling off when/ if needed

Anyone know best places to buy and sell please?

Thanks

bostonerimus

"Saving" should be replaced by "speculating" as gold can be quite volatile.

aroominyork

bostonerimus said:

"Saving" should be replaced by "speculating" as gold can be quite volatile.

Maybe a middle way is 'investing' and we save speculating for crypto (unless you want that to be 'gambling').

[Deleted User]

https://www.gold.co.uk/

I have put about 6k in. This is about 10% of my assets/money.

Got a couple of 50g gold bars, some sovereign coins and a bit of silver. They will sit there for good and won't be touched unless in emergency.

I also have a safe. Some places offer the option of keeping the gold but this defeats the purpose of having it in my opinion. If you are going to be buying lots you want a decent safe as well so will need to spend on that. Can't really recommend a good safe store as it turned up scratched up a bit, which is common with safes. I also put a bit of cash in the safe etc. Might as well use it when you have it! Since I got the gold the value of each bar has gone down by about £100.

RichTips

I have several thousand pounds in sovereigns and a few hundred in silver rounds. While they've gone up in value significantly since I bought them in November of 2018, they're pretty unfulfilling as an investment as they're just inert metals sitting in storage rather than productive in any way. The spread between purchase and sale prices in general also leaves me a bit sour regarding putting money in precious metals.

If you want to designate a small portion of your net worth to holding them as a source of diversification or a speculative emergency fund I think that's fine, probably best not to fetishize them and start collecting just for the sake of it though.

As for where to buy, I believe Hatton Garden Metals is reputable (though I think they're a little short of supply in some denominations currently). 

Scrudgy

Bars can be quite hard to sell unless you have a bullion dealer in your local area. Posting it is not an option. I tried to sell a 350 gram and a 100 gram bar in Aberdeen and no one would look at it apart from one jeweller who offered £1000 below a bullion dealers price. In the end I drove to Birmingham, paid for a hotel and the fuel for about £250 and sold it face to face, saving net £750 over the local jeweller price. Pawnbrokers who advertised they bought gold wouldn’t touch it and said they only want old jewellery and coins.

Albermarle

This dealer in Blackpool is often mentioned 
Gold Coins and Bars for Sale | Investment Gold | Chards

unkle

Just buy gold sovereigns

Malkytheheed

You can hold gold without physically holding gold. Just buy into a gold index tracker fund, 

Albermarle

Malkytheheed said:

You can hold gold without physically holding gold. Just buy into a gold index tracker fund, 

It depends on why you want to hold gold .
If it is part of a balanced portfolio as a diversifier than a gold etf is fine, and easy.

If you hold gold in case of a global financial meltdown of the kind never seen before, where all bets will be off, than you need it at home in a safe . Then you can use it to buy guns or baked beans or whatever.

p00hsticks

Albermarle said:

Malkytheheed said:

You can hold gold without physically holding gold. Just buy into a gold index tracker fund, 

If you hold gold in case of a global financial meltdown of the kind never seen before, where all bets will be off, than you need it at home in a safe . Then you can use it to buy guns or baked beans or whatever.

In that sort of scenario, if you owned guns and baked beans, would you really swap thm for a chunk of pretty useless metal ?