first 1oz gold purchase, coin or bar

[Mark10110]

Hi guys and fellas,

I am looking to buy 1oz gold bar or coin but after watching about 10 hours of videos on youtube from people like shadow stacker I still have no idea what path to take.

what are your opinions on whats best for what reasons as £1000 is a big commitment for me and I want to listen to all sides.

 

If I buy a 1oz coin theres a chance it will gain premium over time but a Bar stays the same as far as I understand. 

I don't know why I am stacking I only have 30 oz of silver but I really wanna put 1k into gold before i move forwards and hope you kind people can help shine some light on gold.

thank you in advance,

Mark

[goldfish]

Hi guys and fellas,
I am looking to buy 1oz gold bar or coin but after watching about 10 hours of videos on youtube from people like shadow stacker I still have no idea what path to take.
what are your opinions on whats best for what reasons as £1000 is a big commitment for me and I want to listen to all sides.
 
If I buy a 1oz coin theres a chance it will gain premium over time but a Bar stays the same as far as I understand. 
I don't know why I am stacking I only have 30 oz of silver but I really wanna put 1k into gold before i move forwards and hope you kind people can help shine some light on gold.
thank you in advance,
Mark

Stick with gold coins, coins make you a collector not a Stacker. Here in the United States if the government were to recall gold, coins would be exempt because they hold a numismatic value as wear bars would be considered stacking and qualify for confiscation

[Bullionbilly]

Either a 1oz coin of you're choice or 4 full sovereigns would be my choice.

[Mark10110]

11 minutes ago, goldfish said:

32 minutes ago, Mark10110 said:

Hi guys and fellas,
I am looking to buy 1oz gold bar or coin but after watching about 10 hours of videos on youtube from people like shadow stacker I still have no idea what path to take.
what are your opinions on whats best for what reasons as £1000 is a big commitment for me and I want to listen to all sides.
 
If I buy a 1oz coin theres a chance it will gain premium over time but a Bar stays the same as far as I understand. 
I don't know why I am stacking I only have 30 oz of silver but I really wanna put 1k into gold before i move forwards and hope you kind people can help shine some light on gold.
thank you in advance,
Mark

Stick with gold coins, coins make you a collector not a Stacker. Here in the United States if the government were to recall gold, coins would be exempt because they hold a numismatic value as wear bars would be considered stacking and qualify for confiscation

I had no idea they wouldn't take coins. Any idea if its the same in the UK?

6 minutes ago, Bullionbilly said:

Either a 1oz coin of you're choice or 4 full sovereigns would be my choice.

I'm going to look into sovereigns as I don't know much about them.

[PansPurse]

There's definitely an argument to be made for having smaller coins, say quarter ounces or sovereigns because they're easier to sell and mean you have more flexibility when it comes to selling.

Important consideration is that coins are exempt from capital gains tax, but bullion is not.

[Bullionbilly]

Sovereigns is same as silver coins vs kg. You need a few quid sell 1 quickly, not waiting for someone looking for an oz. Although in fairness dealers will buy back from you (at a loss to you)

[Bullionbilly]

http://thesilverforum.com/topic/11472-gold-bar-buying-advice/?do=findComment&comment=145001

[PansPurse]

19 minutes ago, goldfish said:

40 minutes ago, Mark10110 said:

 

Here in the United States if the government were to recall gold, coins would be exempt because they hold a numismatic value as wear bars would be considered stacking and qualify for confiscation

Ugh, I try not to comment on this stuff but government confiscation really doesn't factor into any of my decision making.

But then I'm not stockpiling tinned food either

[HelpingHands]

12 minutes ago, PansPurse said:

But then I'm not stockpiling tinned food either

Well, it's about time you started.

Get down to the 'whoops' shelf at Asda.

[Pipers]

IMO If it is a big commitment then you should buy 4 sovereigns and a 1/2 sovereign.  This will will give you just over 1oz of gold.  Remember buying gold is a long term commitment/ investment and not a short term flip.  For best sell back you will always get more for sovereigns than 1/2 sovereigns so you may want to buy either 4 or 5 sovereigns and leave the 1/2 sovereign out. 

You should still be able to pick up a couple of 2017 sovereigns uncirculated from Atkinson's or chards plus a couple of bullion sovereigns from the same dealer try to keep the delivery cost down!!  If you buy new 2017 2018 buy capsules from the dealer. 

[blackadder]

2 hours ago, PansPurse said:

But then I'm not stockpiling tinned food either

Why not? it's all the rage atm Id go for 4  Sovereigns first of.Then if you need money you can sell one coin rather then a whole oz.

[999magnum]

4 hours ago, goldfish said:

4 hours ago, Mark10110 said:

 

Stick with gold coins, coins make you a collector not a Stacker. Here in the United States if the government were to recall gold, coins would be exempt because they hold a numismatic value as wear bars would be considered stacking and qualify for confiscation

And why would the government do that? Recall or confiscate gold I mean. I hear this from time to time. I'm just curious as to why you think the US government would or could by LAWFUL  means "recall" gold. For what reason except to print more money. Oh wait, our currency is not backed by gold anymore. My point is they don't need anybody's gold unless they just want the gold and if they want the gold they'd have to take it by force because the whole for the good of the country speech is not going to fly especially in this economy. They can just print more paper currency as they wish. Boom. Problem solved. So what would they want with our gold?

[60015]

Stick with coins from a reputable dealer.

Which coins you go for are a personal preference but I like sovereigns. To me they are the ultimate coin, easy to trade, recognised the world over and come with hundreds of years of history behind them. Also not too expensive individually so if you need to liquidate a small amount of cash you're not stuck with 1oz.

[JunkBond]

Another vote for sovereigns here, you just cannot go wrong. Interesting, desirable and very liquid.

I am just collecting halves, as long as they are half the price of a full. Not worried about dealer spread, selling isn't in my plan.

[PansPurse]

I'm going to dissent and say I love gold Britannias and Queen's Beasts. They're pure gold rather than 22 carat so don't have the slight reddish tinge. Also the designs are gorgeous 

[JunkBond]

9 hours ago, Mark10110 said:

I don't know why I am stacking...

This bit worries me, I would address that before spending any money. Only you know what is best for you.

[JunkBond]

1 minute ago, PansPurse said:

I'm going to dissent and say I love gold Britannias and Queen's Beasts. They're pure gold rather than 22 carat so don't have the slight reddish tinge. Also the designs are gorgeous 

I  love the reverse of both, but cannot stand the ageing Liz portrait, it puts me off modern sovs also. I am with you on 9999. OP get Somalian Elephants!

[PansPurse]

2 minutes ago, JunkBond said:

I  love the reverse of both, but cannot stand the ageing Liz portrait, it puts me off modern sovs also. I am with you on 9999. OP get Somalian Elephants!

now that's really interesting, probably very much a personal psychology thing, but I find recent Queen portraits kind of reassuring (perhaps just because they're familiar) whereas some other monarch portraits can seem a bit stern *cough* Edward VII *cough*

[KevinG]

Idd the same here Sovereigns are the way to go. But if you want something different buy some Imperial German 20 Marks

[Guest]

If I had a choice then coins over bars with a first purchase.

Which size?

1/4oz or similar as they are easier to trade. 1/10th is ok and 1/2oz is ok.

Age..older with Sovereigns or pre-33 Gold or younger with us Gold eagles perhaps.

Remember in the uk you are making a bet on exchange rates as well as spot price.

Term - keep a long time

Gold is not an investment it’s a hedge against inflation and store of wealth.

[Mark10110]

5 hours ago, JunkBond said:

I  love the reverse of both, but cannot stand the ageing Liz portrait, it puts me off modern sovs also. I am with you on 9999. OP get Somalian Elephants!

I LOVE the Somolian silver coins so much and I really do look at the gold version about 3 times a day on websites.

[Thelonerangershorse]

I vote sovereigns, don't forget UK coins are exempt from CGT when you sell.

[999magnum]

The LCS I go to told me to stay away from gold bars. He seems to think they are all fakes. He told me to stick with gold coins as they are better to collect, buy and sell easier than gold bars.

[Micky9776]

+1 for getting sovereigns, they are nice coins, very collectible, easy to pick up for a couple of % over spot and easy to sell 

Another option could be old gold 20 Francs, they contain 5.81g of gold and they come minted from different country's, France, Belgium, Switzerland etc

 

[999magnum]

One of the newer gold I like.