Hoping for suggestions on first gold purchase!

[Melon]

Hi guys! I'm new to gold, but have recently decided to start making some purchases (1-2 oz initially).

 

I was originally looking at the Britannia, but it appears the Lunar series (from the UK royal mint) may be a better idea? Seems they cost nothing extra, but a nice way to collect each year and who knows they may even have some collector value one day. Does that seem sensible or am I making a rookie mistake by not going for the most well know option (Britannia/Maple/AE)?

 

I was also doing some searching in to where to get them. Costs around £889 on the royal mint site, but £849/£859 on goldline.co.uk (for 2014/2015). From what I've read on here goldline sounds legit, but is is risky that it might be dodgy or worse for ware? Alternatively could just go for random sovereigns from HGM, although as I know nothing about them it doesn't have the same collecting appeal. 

 

Has anyone ever ended up with a fake product from HGM/Goldline? I worry (probably stupidly) that as they buy from the public, a fake could slip through!

 

Thanks chaps, sorry for the multitude of questions - really do appreciate your insight!

 

 

[mr-dead]

Goldline are legit and the largest UK refinery I believe.

 

UK lunar series are nice and also capital gains tax free like sovereigns.

 

Cant really go wrong with sovereigns, Britannia's or the lunar series.

 

As a first purchase just buy what you like the look of and enjoy.

[Stu]

Hi and welcome Melon.

May be best to stay away from the Royal Mint for pure bullion coins as they cost more. Reputable dealer like goldline, Chards, Atkinsons will be supplied direct from the mint with new coins. Very little chance of getting fake goods from these companies. Buy what you like the look of and remember to work out how much you are paying over the spot price, post etc. Hatton Garden Metals are normally plus 3% with £6.50 for delivery.

Worrying about fakes fades as you begin to make purchases and your knowledge increases. I started of buying sovs from the mint but the guys here pointed me in the right direction.

Happy collecting/stacking.

[garthy]

Hi Melon

 

As Stu said the Royal Mints bullion site is quite pricey compared to some other mentioned.

 

I see goldline have the RM lunar horse at a decent price, if I were going to but a 1oz coin now I'd go for that, first of the series and a maximum mintage of 30,000 there's quite a bit going for this coin.

 

http://www.goldline.co.uk/bullionCoins.jsp?coinId=241&yp=0

[silversword]

Remember that depending on what you are buying there is no compelling reason to choose bullion coins over bars when buying gold (silver is another matter) if the bars can be had for less. One ounce minted bars can often be picked up for a bit less than the same weight coin.

[Melon]

Cheers for the responses, very helpful guys!

 

Think I'll go with the lunars off Goldline then. Hopefully they turn out to be new ones!

[Stu]

Yes the lunars are new. I bought the horse a few months ago and Bairds/goldline sealed it in a credit card size anti tamper type package. Will probably buy the goat from them at some point as it's a good price also. I believe the royal mint now send them out in this type of packing also now. More reassurance for the buyer, then you have to decide if you want break the packaging and put the coin in a capsule/display case etc. decisions decisions

[HelpingHands]

Maybe consider smaller coins too. I know you get the most gold for your cash when buying large coins but often small coins eg. 1/10th pandas/lunars hold/increase their premium more so over time.

[Paul]

Goldline (Baird & Co)

 

The latest Annual Accounts submitted to Companies House for the year up to 31/12/2013

reported 'cash at bank' of £3,598,000,

'liabilities' worth £37,234,000,

'net worth' of £11,955,000

and 'assets' worth £39,560,000.

 

from http://companycheck.co.uk/company/02269558/BAIRD--CO-LIMITED/financial-accounts

 

So they are not short of a bob or two

 

The RM 1oz gold lunar horse is a 'good buy' to start your stack with in my opinion

[Lindeman]

Hi Melon, and welcome to the Forum.

You cannot go wrong with Goldline/Bairds....although if you have already bought your RM Lunar Horse, you will already have experienced the rather convoluted 2-step buying process they have , which is a bit of a joke compared to other sellers. But the delivery is fast, and like Stu I bought a Horse from them also - perfect coin. If you are thinking of a second 1ounce coin then personally I still like the venerable Krugerrand - going at Goldline for a very reasonable £847. I know - not everybody's idea of an exciting coin - but I think it's a good piece of PM history, being the first bullion that really allowed normal investors to buy gold. Just a thought. I got a couple to start my gold stack.

[Melon]

Well guys, I did it. First gold purchases made... the (very small) stack begins!

 

Purchased the 1oz Lunar Horse and the 1oz Lunar Sheep.

[Paul]

Well guys, I did it. First gold purchases made... the (very small) stack begins!

 

Purchased the 1oz Lunar Horse and the 1oz Lunar Sheep.

 

Say 'hello' to an addictive & expensive hobby and look forward years and years ahead of permanently being skint with an ever accumulating pile of shiny golden loveliness 

 

If you get the '7 year old kid on Christmas Day morning' butterflies feeling in your stomach when the postman comes knocking, I'm afraid you're hooked and there's no cure, sorry

[Melon]

Say 'hello' to an addictive & expensive hobby and look forward years and years ahead of permanently being skint with an ever accumulating pile of shiny golden loveliness 

 

If you get the '7 year old kid on Christmas Day morning' butterflies feeling in your stomach when the postman comes knocking, I'm afraid you're hooked and there's no cure, sorry

 

I don't know what you're talking about! It's not like I'm working from home tomorrow so that I can be here when the post man arrives... oh wait, I am  

[Melon]

Hi Melon, and welcome to the Forum.

You cannot go wrong with Goldline/Bairds....although if you have already bought your RM Lunar Horse, you will already have experienced the rather convoluted 2-step buying process they have , which is a bit of a joke compared to other sellers. But the delivery is fast, and like Stu I bought a Horse from them also - perfect coin. If you are thinking of a second 1ounce coin then personally I still like the venerable Krugerrand - going at Goldline for a very reasonable £847. I know - not everybody's idea of an exciting coin - but I think it's a good piece of PM history, being the first bullion that really allowed normal investors to buy gold. Just a thought. I got a couple to start my gold stack.

 

Now you've gone and made me buy a Krugerrand as well   

 

Couldn't resist getting a little one, had a 1/4 oz on HGM for 3% over spot.

[SilvergunSuperman]

I don't know what you're talking about! It's not like I'm working from home tomorrow so that I can be here when the post man arrives... oh wait, I am  

 

You may also find yourself whistling this to yourself while waiting for the postie... well now you will 

 

https://www.youtube.com/watch?v=nOr0na6mKJQ