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Buying Gold in The UK


scubajunky

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HI all,

Sorry if this has been asked before.

I have been thinking about buying gold for some time now. 

I was given £25k nearly twenty years ago and have just realised how much that money has depreciated in the bank, in gold I would have 4x my money and in silver it would have doubled. I don't want to make that mistake again, especially with all the talk now of a dollar collapse etc

Where do people in the UK get their gold from and what tips can you give me please?

Thanks in advance to anyone who can help me.

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i would upgrade to the premium membership and buy stuff off the forum. You can soon burn through cash with precious metals.

If you want liquidity (easy sell without heavy costs) i would go for sovereigns. If you can get then relatively near spot you aren't going to go wrong. You can then resell them here with no fees.

Silver is more costly to buy as you are paying above the spot price by a fair amount but at the same time you should be able to sell above spot (except to dealers).

The upside when it comes will be more in silver. The price has been more suppressed. As you have seen you would not have made as much on silver as gold in the last 20 years so there is some catching up to do as i see it. Silver is one of if not the most undervalued assets there is. So with silver you need to be able to hold. If you think you might need to convert into cash soon then concentrate of gold.

There is another thread running at the moment about where to get gold and silver.

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20 years ago?

You should have bought a house! ?

Technically, alcohol is a solution..

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Yes, that is correct. Silver is subject to VAT. but gold is not.

There is currently a group buy being arranged when one of the members is organising a  puchase from a mint in Europe. Although not VAT free as most newer silver collectors think, it is in fact subject to VAT at that country's VAT rate. Being in the EU means that if VAT is paid in one member state it can be transported to another member state VAT - free having already paid VAT in the originating country.  Hope that makes sense. 

Click on the link below for further details.

 

 

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14 hours ago, scubajunky said:

and what tips can you give me please?

 

14 hours ago, sixgun said:

If you want liquidity (easy sell without heavy costs) i would go for sovereigns  -  most people here would agree

Silver is more costly to buy as you are paying above the spot price by a fair amount but at the same time you should be able to sell above spot (except to dealers).   because of the vat and premium, silver is more expensive and you're not certain to get these costs back

The upside when it comes will be more in silver. The price has been more suppressed.   One view, I am not so certain. Do your own research.

So with silver you need to be able to hold. If you think you might need to convert into cash soon then concentrate of gold.  Agreed

Probably buy both but I would put more into gold, unless you believe silver will revert to the mean, and maybe exceed it.

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Don't assume that investing in PMs will make you money.
There is as much chance of loosing as well as gaining - no guarantees so only risk what you can afford to loose.

Gold trades on small margins and sovereigns are extremely liquid so you can buy and sell instantly.
Silver tends to have higher premiums and new silver is subject to 20% VAT which you forfeit selling back.
Many on this forum buy silver from the EU to avoid this crippling VAT and of course there are some great deals to be had buying and selling on this forum.

Right now the gold silver ratio is incredibly high.
So called experts believe gold is valued fairly with some upside potential once the USA markets dip and maybe the dollar falls as well.
That makes silver really cheap and some other experts see silver rising rapidly once all the paper trades are called to roost with a forecasted growth this year of 30%.

No-one can predict sh*t so always diversify your investments and if you have property, pension, ISAs etc then dip into PMS but the wisemen recommend you only gamble up to 20% of your wealth in this stuff.

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