Buying Gold - for savings

Blackout05

OK I had no idea Coins were free from capital gains tax. Think i need to research more 

ColdIron

Not all coins but UK Legal Tender ones like Sovereigns and Britannias

Ash_Pole

Blackout05 said:

OK I had no idea Coins were free from capital gains tax. Think i need to research more 

I had no idea that bars (and Krugerrands) weren't. Learned something new today. 

nottsphil

Is the legal tender value of a sovereign still £1.05?
I ask this because I know that crowns leapt from 25p to £5.

DRS1

nottsphil said:

Is the legal tender value of a sovereign still £1.05?

No That is a guinea (as in the horse races).  A sovereign is £1 (although it will cost you more than £500 right now)

surreysaver

nottsphil said:

Is the legal tender value of a sovereign still £1.05?
I ask this because I know that crowns leapt from 25p to £5.

A Guinea is 21 Shillings (£1.05).  A Sovereign is 20 Shillings (£1)

Sea_Shell

I fancy the idea of some real 'hold in your hand' gold, but the commission charges put me off.   Along with the hidden charges between the buy and sell prices*. 

I'm guessing it's not really worth it unless you want to avoid CGT.   (I don't need to)



*eg Bullionbypost, are currently selling sovereigns at £510, and buying at £469.    So that's a loss of 8% straight off the bat.  

TBC15

Sea_Shell said:

I fancy the idea of some real 'hold in your hand' gold, but the commission charges put me off.   Along with the hidden charges between the buy and sell prices*. 

I'm guessing it's not really worth it unless you want to avoid CGT.   (I don't need to)



*eg Bullionbypost, are currently selling sovereigns at £510, and buying at £469.    So that's a loss of 8% straight off the bat.  

I’ve been looking into buying Britannia’s from Atkinsons and the buy/sell spread is about 2% which I think is not to unreasonable.

DRS1

TBC15 said:

Sea_Shell said:

I fancy the idea of some real 'hold in your hand' gold, but the commission charges put me off.   Along with the hidden charges between the buy and sell prices*. 

I'm guessing it's not really worth it unless you want to avoid CGT.   (I don't need to)



*eg Bullionbypost, are currently selling sovereigns at £510, and buying at £469.    So that's a loss of 8% straight off the bat.  

I’ve been looking into buying Britannia’s from Atkinsons and the buy/sell spread is about 2% which I think is not to unreasonable.

That is to do with the size of the coin.  I imagine the Britannias you are looking at are 1oz coins.  They may not be as easy to offload as the smaller coins like the Sovereign when you want to sell.

Sea_Shell

Do all gold Sovereigns weigh the same ( 7.98 g )

If so, is there also an element of "collectibilty" about them, as the prices seem to vary quite widely?