first time gold purchase, £8000 budget, what to buy.

[Nick1368]

Hi everyone

I'm new to this forum and I'm also new to the gold world, I have not purchased gold of any type in my life before but I have decided to invest £8000 on gold.

I have been doing my research online and reading the discussions on this forum for the last two weeks in order to gather as much information as possible.

 I think I'm going to buy 7 x 1oz pre owned Britannia + some full sovereigns as well.

what do you guys think?

[Cornishfarmer]

id think about a couple queens beasts, these should go up in value and probably only cost you £10/coin extra and they are a lot nicer.      dont splash all the cash too quickly because deals and new coins cone up regually

 

[Nick1368]

What's the difference between Britannia and queen's beast apart from the look obviously ?

is queen's beast tax free as well?

[Auricsstash]

Hi Nick totally depends what you are stacking for, gold value or possible numismatic value longer term? If it’s sheer weight run the maths yourself but a couple of days ago these were the cheapest way to buy gold.. CGT exempt...

http://www.hattongardenmetals.com/buy/product.aspx?ProductID=4

[Nick1368]

32 minutes ago, Cornishfarmer said:

id think about a couple queens beasts, these should go up in value and probably only cost you £10/coin extra and they are a lot nicer.      dont splash all the cash too quickly because deals and new coins cone up regually

 

What's the difference between Britannia and queen's beast apart from the look obviously ?

is queen's beast tax free as well?

[Tn21]

Capital gains tax free aswell yes

[Nick1368]

10 minutes ago, Auricsstash said:

Hi Nick totally depends what you are stcacking for, gold value or possible numismatic value longer term? If it’s sheer weight run the maths yourself but a couple of days ago these were the cheapest way to buy gold.. CGT exempt...

http://www.hattongardenmetals.com/buy/product.aspx?ProductID=4

Hi

I'm looking at a long term investment.

[KevjustKev]

You could buy 8 1oz coins, however I wouldn't. Mix it up, Sovs are always good, some 1/4oz Queens Beasts, 8g Pandas and other coins or bars around the 1/4oz mark. Yes you will pay more per oz, yet they are more easy to sell if needs be.

[Nick1368]

1 hour ago, tallthinkev said:

You could buy 8 1oz coins, however I wouldn't. Mix it up, Sovs are always good, some 1/4oz Queens Beasts, 8g Pandas and other coins or bars around the 1/4oz mark. Yes you will pay more per oz, yet they are more easy to sell if needs be.

why wouldn't you buy 8 x 1oz coins?

[Martlet]

I would say for sticking in a box and forgetting about for decades, get Brittania's.  If you want to enjoy the coins a little, add some variety with Queens Beast, sovereigns, maybe some other fractionals.  But you have to watch the premiums there, and it soon becomes and interest, a hobby, a collection... 

[Tn21]

if you get fractionals and sovs in the mix up it can be ideal when you liquidate, as you dont need to sell full oz but instead you can sell a sov or 1/4oz or 1/2 oz etc. I would go for a mix with the budget you have given at least when it comes time to sell you can do so bit by bit. 

[Roy]

Your choices are good ones but I think spending £8000 straight away is silly.

2 weeks research is not enough, there are so many factors at play right now to make that kind of commitment.

Where will you make your purchase(s)?

Why gold in particular?

I'd stay cash rich for now because there are probably some buying opportunities just around the corner.

[Nick1368]

41 minutes ago, Martlet said:

I would say for sticking in a box and forgetting about for decades, get Brittania's.  If you want to enjoy the coins a little, add some variety with Queens Beast, sovereigns, maybe some other fractionals.  But you have to watch the premiums there, and it soon becomes and interest, a hobby, a collection... 

Britannia + queens beast + sovs sound great to me

[KDave]

Agree with Roy. Keep some powder dry and ready for buying opportunities but only after you have your core position sorted. Your choices are good. 

[Pritchard]

''first time gold purchase, £8000 budget, what to buy.''

... maybe Gold? : ) @Nick1368

 

i am a first timer too. i bought this week, and put down nearly 4k. I bought a dozen soveriegns and a britannia. i am buying for investment in Gold, not investment in coin collectability. so for this reason, i bought my gold as close to spot price as possible. for that reason, sovereigns trade closer to spot price.

however i think if i add any more to my collection, i will continue with Britannias only. As in my opionin, i prefer these. and i dont have a requirement to keep my gold in small integers (i.e, sovereigns are about 1/4 the gold content so are much smaller in size).

[Nick1368]

40 minutes ago, Roy said:

Your choices are good ones but I think spending £8000 straight away is silly.

2 weeks research is not enough, there are so many factors at play right now to make that kind of commitment.

Where will you make your purchase(s)?

Why gold in particular?

I'd stay cash rich for now because there are probably some buying opportunities just around the corner.

oh no I'm not going to spend £8000 on gold in one go, I was gonna do a £4000 purchase in about two weeks time from now  and then another £4000 in about two months after the first purchase.

and you are absolutely right,  two weeks research is not enough which is  why I joined this forum to ask you guys for some information and help, haven't decided where to make my purchase yet ,  but because its going to be my first ever time buying gold I want to buy it in person rather than online, any suggestions where to buy my gold from in person ?

I was thinking of Hatton gardens metals or atsbullion.

 

 

 

[Pritchard]

@Nick1368 i got mine from Hatton, but i work in London so was a 5min tube. they were great and helped with questions i had.
but, its not a display case. you can't visually browse stock, they bring you your specific request from the vault.
also, you will need ID, and you need either cash or bank transfer, they dont do debit cards (noone told me that before i turned up lol)

[Nick1368]

1 hour ago, Pritchard said:

@Nick1368 i got mine from Hatton, but i work in London so was a 5min tube. they were great and helped with questions i had.
but, its not a display case. you can't visually browse stock, they bring you your specific request from the vault.
also, you will need ID, and you need either cash or bank transfer, they dont do debit cards (noone told me that before i turned up lol)

thanks for the info

[KevjustKev]

4 hours ago, Nick1368 said:

why wouldn't you buy 8 x 1oz coins?

If you need to sell some, say the boiler packs or a big hole in the roof, getting rid of small sizes is quicker and more easy. Not everyone can just shell out £X for an oz, merchants will not always give you the best price for a full oz also.

[Nick1368]

4 hours ago, tallthinkev said:

If you need to sell some, say the boiler packs or a big hole in the roof, getting rid of small sizes is quicker and more easy. Not everyone can just shell out £X for an oz, merchants will not always give you the best price for a full oz also.

I see

[Xander]

I would buy gold bullion sovereigns.

[mustynewb]

For 4k I'd probably buy 2x one ounce Brits and spend the rest on mixed date (lucky dip) sovereigns. May even end up with some nice ones.

[FoolzGold]

Agree with most of the above. You should consider at least one 1oz Queen's Beasts in the mix. There should be a new design out in a month or so and the new ones have the lowest premiums - higher than a Britannia, but if you resell in a few years you should be able to get more (possibly significantly more) for a QB than for a Britannia.

[Ansel]

Sharps Pixley is a really nice place to buy first time. Central London shop in St James's St, a short walk from Green Park tube station.

https://www.sharpspixley.com/

[MHoppy]

In the same position myself. As a new stacker, I've decided to work backwards to 2013 on the 1oz Brits (ignoring privy's) and forward on the qb's. And yes I've just swallowed the premium on the lion and Griffin but hayho.