Waldo Posted March 18, 2013 Share Posted March 18, 2013 Just wondered if anyone here has experience buying and storing gold? Presumably, you have to decide between buying physical gold, or something like gold bonds (where you own, but do not possess the gold). Where would you buy it? Where would you store it? Thanks. Link to comment Share on other sites More sharing options...
geared Posted March 18, 2013 Share Posted March 18, 2013 Store it in either a safe or in a bank. As for buying, well those guys you see operating a stall in various shopping centres or on street/market buying 'scrap' seem to make fairly good money. Why are you wanting to buy gold again, in the hope that the price rises or just to get your money into some solid asset? Link to comment Share on other sites More sharing options...
Draggletail Posted March 18, 2013 Share Posted March 18, 2013 No experience personally, wonder if This represents good value? Link to comment Share on other sites More sharing options...
geared Posted March 18, 2013 Share Posted March 18, 2013 No, because that site is selling gold at or above spot price. You don't buy gold at or above spot price and expect to see all your money back. Link to comment Share on other sites More sharing options...
Cyclone Posted March 18, 2013 Share Posted March 18, 2013 I considered it briefly, I came to the conclusion that buying gold sovereigns would be the best idea. They're exempt from CG tax for a start. Buying bonds or shares is more risky, it's possible for the companies that issue them to fail. If you can find a 100% asset backed bond then it's safer, but of course you pay a premium for that status. Given the small size of the sovereigns I was going to keep them in a safe at home and not advertise the fact that I had them. Link to comment Share on other sites More sharing options...
Riche Posted March 18, 2013 Share Posted March 18, 2013 Just wondered if anyone here has experience buying and storing gold? Presumably, you have to decide between buying physical gold, or something like gold bonds (where you own, but do not possess the gold). Where would you buy it? Where would you store it? Thanks. Jewelers will sell you 22, 24t ingots for a small handling fee.Keep them with the reciept and price paid inc. fee vat etc. Get a small quality safe, hide it with instructions to a trusted third party to find it if you peg it. Be aware if you buy with cash you must be able to show where it came from ie, cash machine or counter reciept, just in case tax man cometh a knocking. Buy stirling silver also, its on the up, gold is near its peak. Link to comment Share on other sites More sharing options...
Waldo Posted March 18, 2013 Author Share Posted March 18, 2013 Why are you wanting to buy gold again, in the hope that the price rises or just to get your money into some solid asset? Thanks geared. Just really speculation at this point. I suspect it's a probably a better investment than money in a bank account. I did a little research; and it seems there is quite a big spread, % difference between what you can buy and sell for. Especially with coins. Not too bad with larger bars. Link to comment Share on other sites More sharing options...
WeX Posted March 18, 2013 Share Posted March 18, 2013 Just wondered if anyone here has experience buying and storing gold? Presumably, you have to decide between buying physical gold, or something like gold bonds (where you own, but do not possess the gold). Where would you buy it? Where would you store it? Thanks. Here https://www.valcambigold.com/category/38-best-selling-products.aspx You can buy from these people, and you can snap off sections to sell if you need. Link to comment Share on other sites More sharing options...
Waldo Posted March 18, 2013 Author Share Posted March 18, 2013 I came to the conclusion that buying gold sovereigns would be the best idea. They're exempt from CG tax for a start. Thanks Cyclone. Do you know if that only applies to gold in form of sovereigns? Link to comment Share on other sites More sharing options...
WeX Posted March 18, 2013 Share Posted March 18, 2013 Thanks Cyclone. Do you know if that only applies to gold in form of sovereigns? Capital Gains tax only applies to income over £10,600pa Link to comment Share on other sites More sharing options...
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