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Gold Short Term Investment?


5thlancers

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Hi Folks,

A few questions.
1) I have a spare £20,000 sitting in the bank and with interest rates so low I have been thinking about buying a gold bar and wanted to know if gold is a good short term investment, I'm 59 at the moment and would be looking at keeping it for about 6 to 10 years and wanted to know if it would be a good investment for that sort of time period.

2) Also I would like to know where's the best and safest place to purchase the gold in the UK.

3) Do I buy bar or coins or a mixture.

Cheers.
Kev. 

 

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  • 5thlancers changed the title to Gold Short Term Investment?

If it is for investment over a long period of time, do you want to own physical gold /silver  (pm’s) or stocks and shares?

Personally I do half and half.

If you think precious metals will rise in price over this time period, you will get far more leverage and return on investment  in shares / funds as opposed to owning the physical....your choice.

The options available for both are huge...spend weeks reading and learning before you take the plunge.

Most people on this forum will be more knowledgable on the physical side I reckon, and will be able to advise you well.

If you want to own PM’s using investment vehicles then use an ISA... could do worse than Schroeder ISF global gold or Investec Global gold.. please DYOR and enjoy the journey.

 

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I would be tempted to stick the money into Queen's Beasts series (gold) over sovereigns as they are more likely to appreciate in value in a short period of time (the 1st and 2nd release coin have already gained a respectable premium) + they are also capital gains tax + VAT free

Trusted dealers:

https://atkinsonsbullion.com/

https://www.bairdmint.com/

https://www.chards.co.uk/

http://www.hattongardenmetals.com/buy/

 

for £20k you could get 2 X tubes of 10 coins(Dragon, Unicorn or Bull) and no need to worry about capsules or storage + a little change left over. 

Capture.PNG

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I prefer new coins because they’ve been around less time to fake. I bought a load from Atkinsons.

The gold price could go down or up. It will never go to zero unlike shares in some FTSE 100 companies can / have. 6-10 years gives you plenty of time if there is a value drop so as long as you can take the physchological hit and keep your nerve and stay invested, you should me ok.

Maybe buy £5k each quarter and see how you like the feeling? 

Decus et tutamen (an ornament and a safeguard)

YouTube - https://www.youtube.com/channel/UC5OjxoCIsDbMgx7MM_l4CmA

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I would buy some KVT's tokens in the the Kinesis currency - if this does what they have estimated it will change your life.

Then put some in sovereigns as they can be got at a good price and can be easily sold. I would get some Queen's Beasts as they appear like they are going to appreciate further over time.

i would not recommend shares in anything at the moment unless you really know what you are doing.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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3 hours ago, 5thlancers said:

Hi Folks,

A few questions.
1) I have a spare £20,000 sitting in the bank and with interest rates so low I have been thinking about buying a gold bar and wanted to know if gold is a good short term investment, I'm 59 at the moment and would be looking at keeping it for about 6 to 10 years and wanted to know if it would be a good investment for that sort of time period.

2) Also I would like to know where's the best and safest place to purchase the gold in the UK.

3) Do I buy bar or coins or a mixture.

Cheers.
Kev. 

 

59 now, and you want to keep it till your nigh on 69? By then you probably won't be in any fit state to even enjoy it.

Let's be honest here, you've got at best another 20-22 years before you get your VIP pass for the pearly gates. Average life span in the UK is roughly 80, so your clock is ticking my friend. Every year that passes is one more year you become weaker and less active. Why waste that time? Enjoy it now.

I'm 40, and my stacking will end when I'm 55 tops no matter what, and whatever I've gained in value by that time is getting cashed in and used. Can't take it with you when your dead, so use it when you're alive (and able).

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4 hours ago, LittleJohnSilver said:

59 now, and you want to keep it till your nigh on 69? By then you probably won't be in any fit state to even enjoy it.

Let's be honest here, you've got at best another 20-22 years before you get your VIP pass for the pearly gates. Average life span in the UK is roughly 80, so your clock is ticking my friend. Every year that passes is one more year you become weaker and less active. Why waste that time? Enjoy it now.

I'm 40, and my stacking will end when I'm 55 tops no matter what, and whatever I've gained in value by that time is getting cashed in and used. Can't take it with you when your dead, so use it when you're alive (and able).

@LittleJohnSilver I would love to see your reaction to you re-visiting this post in 15 years time

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At 59 I’d keep in the bank.       Because if you buy £20k you have to think about storing and insuring it. So in the bank it’s safe.     Then you have to find a bullion dealer to give a fair price.     Also buying coins can be addictive so £20k will go then another £5k then another

if I was to buy for ease I’d buy sovs because they are close to spot but will sell at the same

BUT if I had £20k in the bank today I’d buy queens beasts and get the run because they have more chance of gaining above spot, would also look at pandas, the Perth mint swan and emu (if it comes out in gold)

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7 hours ago, LittleJohnSilver said:

59 now, and you want to keep it till your nigh on 69? By then you probably won't be in any fit state to even enjoy it.

Let's be honest here, you've got at best another 20-22 years before you get your VIP pass for the pearly gates. Average life span in the UK is roughly 80, so your clock is ticking my friend. Every year that passes is one more year you become weaker and less active. Why waste that time? Enjoy it now.

I'm 40, and my stacking will end when I'm 55 tops no matter what, and whatever I've gained in value by that time is getting cashed in and used. Can't take it with you when your dead, so use it when you're alive (and able).

Is it fair to say you’re a glass half empty kind of guy?

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If doing it for retirement purposes can you stick it in a sipp and get a free 5 grand or is it too late for that? 

If not I would just buy royal mint 1 oz coins as others have said, store them and forget about them. Whatever you do, don't look at them. If you get the bug you will be blowing all of your money on a retirement stack despite your better judgement.

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10 hours ago, 5thlancers said:

Hi Folks,

A few questions.
1) I have a spare £20,000 sitting in the bank and with interest rates so low I have been thinking about buying a gold bar and wanted to know if gold is a good short term investment, I'm 59 at the moment and would be looking at keeping it for about 6 to 10 years and wanted to know if it would be a good investment for that sort of time period.

2) Also I would like to know where's the best and safest place to purchase the gold in the UK.

3) Do I buy bar or coins or a mixture.

Cheers.
Kev. 

 

If this is all of your savings then I’d be leery about going 100% precious metals.

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Agreed.

Premium bonds?

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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9 minutes ago, Martlet said:

Sounds like he wants to drink the contents of the glass while he can enjoy it. 

Unfortunately the glass will then be empty when he ends up having full faculties well in to his nineties!

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14 minutes ago, Sovsaver said:

Unfortunately the glass will then be empty when he ends up having full faculties well in to his nineties!

...and becomes a burden to society :rolleyes:

Joking aside, 

Kev, one has to assume that you are solvent. No mortgage, no debt? If not, these points have to be given priority.

One assumes that you have a pension in place (a military background?)

If it's truly a 'spare' £20,000, then well done, don't lose it!

Diversity is the key. I love gold but I won't recommend that you put it all into PMs.

Roy

3 minutes ago, Sovsaver said:

Not a fan of those, the return is very poor, on average. I mean as a percentage of prizes against total amount invested.

Agreed but 100% safe. Part of the diverse package? :rolleyes::)

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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If you have a mortgage with several years still to run and paying interest then use your £20k to pay towards the mortgage.
If your pension pot is healthy then that's fine but if you have paid income tax and would like to have it refunded then take a look at a SIPP.
With the new tax rules and your age you can treat a SIPP almost the same as a bank account and even if you have no taxable income you can place £2,880 each year into it and the government adds £720 to gross £3,600.

As for buying gold the problem is risk as it is at the end of the day a commodity.
You should look at the charts showing spot over the past 10 years and compare with the FTSE 100 for example.
No-one can forecast the future prices of gold or stocks & shares so it's all a gamble but if you are covered elsewhere with other investments then have some speculative fun with gold.

With an order of £20k you should call the usual favoured suppliers and see if they will cut you a deal aiming for less than ( ideally ) 2% over spot.
Often the cheapest coins are one ounce bullion like Krugerrands but they aren't particularly attractive.

My favourite right now are one ounce Queen's Beasts and nothing beats shiny brand new gold.
The premiums on fractional in my opinion are too high.

Look out for an offer on sovereigns or even half sovereigns as they are highly liquid and it doesn't matter their age or condition selling back to bullion dealers.
Twenty grand in half sovereigns is a nice heap of coins.

 

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21 hours ago, 5thlancers said:

Hi Folks,

A few questions.
1) I have a spare £20,000 sitting in the bank and with interest rates so low I have been thinking about buying a gold bar and wanted to know if gold is a good short term investment, I'm 59 at the moment and would be looking at keeping it for about 6 to 10 years and wanted to know if it would be a good investment for that sort of time period.

2) Also I would like to know where's the best and safest place to purchase the gold in the UK.

3) Do I buy bar or coins or a mixture.

Cheers.
Kev. 

 

1) Nobody here knows, that's reality. We all have feelings, idea's about the future but only a few things are based on real numbers. Gold maintains its value, it won't go to zero but don't believe the video's that tell you it's almost certain gold will double or triple in the next few years because wars and collapse of currency. Nobody knows the price of gold in 5-10 years. I stay away from gold at the moment because of the silver to gold ratio of 81. I think silver will rise more in the next 10 years than gold will, but again not sure.

 

2) Sorry don't live in the UK. It's wise of you to ask around for this, don't start buying till you know were you can get the best price.

3) I would buy sovereigns or 10 gram bars. If you go smaller you pay high premiums if you go bigger you have to sell big chunks in the future. 

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