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View's please on holding physical Gold?

TUVOK
Posts: 501 Forumite

I would welcome views on holding physical gold, I.e. coins etc.
I do realize that gold at the moment is at a very high price at the moment but I am looking into the possibility of holding some in the form of coins, Krugerrands etc.
Any help in where/how to purchase, storing the coins, possibly selling them in the future and helping with Inheritance Tax would be much appreciated.
Thank you.
I do realize that gold at the moment is at a very high price at the moment but I am looking into the possibility of holding some in the form of coins, Krugerrands etc.
Any help in where/how to purchase, storing the coins, possibly selling them in the future and helping with Inheritance Tax would be much appreciated.
Thank you.
0
Comments
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I've got a small number of coins, there are plenty of websites where you can buy these (Chards, Atkinson's, Bullion by Post etc). You can usually use a credit card. Mine are well hidden, only close family know in case something happens to me. There will always be some risk involved of course. I've never sold any but bear in mind the buy/sell spread is higher than most investments. If you really want to invest in gold hoping to make money (instead of liking shiny things) you'd probably be better with a gold EFT. Inheritance tax - of course gold coins are subject to this. If they can be found.1
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Bullion coins are your best bet. UK legal tender coins are free from CGT so Sovereigns, Britannias or Queen's Beasts. Bullion coins are free from VAT. If you buy from overseas quote VAT Notice 701/21A to stop customs from applying VAT or other dutyKrugerrands are widely available, recognised, tradeable, and can have low mark ups. You might also look at American Eagles, Canadian Maple Leafs, Austrian Philharmonics or Ducats, Chinese Pandas, Australian Nuggets or the Lunar series. Most modern coins will be 24 karat, older world coins 22k. It doesn't matter as a one troy ounce coin will contain one troy ounce of gold, the 22k one will weigh a bit more for the base metal content. A troy ounce is 31.104 grams, a cooking ounce 28.35 gramsCondition doesn't matter greatly from a bullion PoVAvoid proof coinsNot much you can do about IHT, They make great gifts especially sovereigns for newborns etcThey are small and compact so with some imagination are easy to conceal. You will struggle to insure them so remember the first and second rules of Gold Club.They are the same as the first and second rules of Fight Club. This is importantThere are good but also bad reasons to hold physical gold. Be clear about what yours areThese are reputable dealers for buying and sellinghttps://www.chards.co.uk/
https://www.bairdmint.com/
https://atkinsonsbullion.com/
https://www.bullionbypost.co.uk/
https://www.hattongardenmetals.com/HTH5
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