Sold all my gold, got stung

[BigDave84]

1 minute ago, RichmondStacker said:

Also the way Taqiyya May has derailed the process from the beginning for her paymasters, she is putting the communist party closer to power.  I’ll be hiding my gold in Richmond Park before they get a chance to confiscate it once they have cleaned our pensions and savings out. 

I will be doing the same if the commi party make it in, but I'm only a couple of minutes from the moors and will be hiding it up their in a cashe. Coincidentally I'm originally from Richmond and I used to detect Ham Common, on the back boundary to the park wall. In 9 years I found 2 halfs and 1 full sovereign among other things.

[Glorfindel]

9 hours ago, Bdean316 said:

Why do people think we're not leaving the EU - if we don't there will be riots and democrasy will be dead in the UK.

It's either May's deal or no deal - simples

Because there is not majority for no deal in parliament, and MPs will stop it happening. If May's deal is voted down then you should expect article 50 to be extended while there's an election or another referendum, and then we either don't leave or we will join EFTA. Only those things have a chance of getting through parliament.

It is time Brexiteers faced up to that.

[RoughDog]

On ‎30‎/‎11‎/‎2018 at 21:09, Roy said:

Sure, it was your avatar that confused me! 😉

I ask because I'm in my 6th decade of life and I don't know what is around the corner. 

I always read 'for the long term' or 'for my kids' yet it's alien to me. I haven't had that option.

Wait. What? Gold has been available for ever so why are people stacking 'for the long term' now when there wasn't that option before?

It seems that silver and gold have become the greatest asset class available. Well, since 2011 that is.

Don't give your kids gold. They know less what to do with it than you do. Should they leave it to their kids?

Use your gold. Buy bricks and mortar and land when everyone else has to sell. Spend it when it's most wanted.

As for inheritance, don't die a rich man. 😉

Why don't die a rich man?  almost everything is taxed, doesn't really matter what you do.

[sovereignsteve]

4 hours ago, Bdean316 said:

I think the UK is in very murky times politically and i blame that plum David Cameron! 

Nothing to do with Cameron, at least he gave us the option of leaving, albeit only because he was overconfident of a remain vote.

All the fault of the current craven and treacherous politicians who won't enact the people's will.

[Goldmick]

Wow so much info......   gold price right now £970 Oz 

[Goldmick]

Now £974 wow

[silenceissilver]

1 hour ago, Goldmick said:

Now £974 wow

Let's hope it will fall again, I still want to buy much more at the lowest price possible.

[Goldmick]

33 minutes ago, Bdean316 said:

even silver is at a 3 month high🤪

Good for most peeps that.s holding pm.s but yes cant have it both ways lol. Was gunna buy some more gold 

[FoolzGold]

Only just seen this thread...

So back in April 2017 @Glorfindel came asking for advice on what gold bullion coins to buy, was offered great advice as far as I can see, and bought some great long term investment coins.

I note that @Lea79 made the specific note that the best coins to buy depended on "what your exit strategy is", noting that if you intend to sell to a dealer you should buy the cheapest coins. Seems that this advice was ignored... but I digress.

Anyway, since the purchases were made around about 14 April 2017 the gold spot price has dropped from around £1026 to £968 or so on Friday, a fall of around 5.65%.

However, the value of those Queen's Beasts coins that were recommended buys has gone up dramatically in the meantime.

A Griffin bought back then probably cost 5.5% over spot, so around £1,082. Today the same coin is sold by dealers at 50+% over spot. A link earlier in the thread showed one well-known dealer in Germany offering 29% over spot to buy Griffins. That's £1249 for a coin he probably paid £1082 for - a 15% gain in gain in 20 months. 💰

There's a lot to be learned from this experience but the takeaway should be you sought advice before buying, were given good advice, made a good investment, were making a healthy profit overall from your investment, then panicked and - without seeking advice about selling - sold it in the wrong way, turning a guaranteed profit into a loss.

[sovereignsteve]

1 hour ago, Goldmick said:

Good for most peeps that.s holding pm.s but yes cant have it both ways lol. Was gunna buy some more gold 

don't worry, just wait, it will go down again soon. It will keep doing this ad infinitum, until it doesn't, and goes up or down a lot!

buy and hold doesn't work with gold. that is, unless you're prepared to hold until it goes to your target, whatever that may be.

better to buy when it's low(ish) and sell some when it goes up. rinse and repeat.

that way, you'll keep making profit enabling you to increase your holding over time and always having a stock for when it does go up substantially.

 

[sovereignsteve]

23 minutes ago, FoolzGold said:

Only just seen this thread...

So back in April 2017 @Glorfindel came asking for advice on what gold bullion coins to buy, was offered great advice as far as I can see, and bought some great long term investment coins.

I note that @Lea79 made the specific note that the best coins to buy depended on "what your exit strategy is", noting that if you intend to sell to a dealer you should buy the cheapest coins. Seems that this advice was ignored... but I digress.

Anyway, since the purchases were made around about 14 April 2017 the gold spot price has dropped from around £1026 to £968 or so on Friday, a fall of around 5.65%.

However, the value of those Queen's Beasts coins that were recommended buys has gone up dramatically in the meantime.

A Griffin bought back then probably cost 5.5% over spot, so around £1,082. Today the same coin is sold by dealers at 50+% over spot. A link earlier in the thread showed one well-known dealer in Germany offering 29% over spot to buy Griffins. That's £1249 for a coin he probably paid £1082 for - a 15% gain in gain in 20 months. 💰

There's a lot to be learned from this experience but the takeaway should be you sought advice before buying, were given good advice, made a good investment, were making a healthy profit overall from your investment, then panicked and - without seeking advice about selling - sold it in the wrong way, turning a guaranteed profit into a loss.

that's why it's better to buy a mixture of bullion and semi-numismatics. keep turning stock over depending on spot price and the value of the semi-nums.

[FoolzGold]

Dear Classic Car forum,

20 months ago I bought a nice vintage Jaguar based on the advice I got on this forum.

This morning when I woke up I saw a headline in the paper that said, "Vintage Car Market Down 5% (but Jaguars up strongly)" so what with Brexit and everything, I jumped in my motor and raced to the nearest scrap metal merchant to sell the car.

The proprietor said to me, "Mate, are you sure you want to sell this for scrap? You know I'm only going to take it to a vintage car auction and sell it for a fortune, right?"

To which I replied, "My good man, I have no time for your questions and advice! Brexit, man! Brexit!"

So he gave me 50 quid and I'm glad I got out of this terrible classic car market when I did. I may buy again, but only if the price of all vintage cars falls by 50%.

[Abyss]

5 hours ago, Bdean316 said:

Good work and if you have any 1oz gold queens beast's lions I'll give you a spot price 😉 

Thanks @Bdean316 I will take your generous offer and lock in the current spot price £971.42 on the 5th December 2018 at 17.15

I really appreciate you offering me the option to offload my 10 oz of Gold Queens Beast Lion coins at current spot price in the next five years allows me to protect myself against any adverse spot price movements and saves me the hassle of hedging my physical gold position in the futures/options market.

At current spot price the total is £9,714.20 could you please provide proof you have the funds to the pay for the items below?

Joking aside even though I have collected all the QB Gold coins that I am after (10 for each in the series) anyone is nervous and wants to exit their position in Queens Beast's Gold coins drop me a personal PM and I will offer more than dealer rates (established Silver Forum members with lots of feedback normal selling process applies, otherwise we can use @BackyardBullion intermediary services).

 

Edited December 5, 2018 by Abyss

[BackyardBullion]

Would you know it....

https://atkinsonsbullion.com/gold/gold-coins/1oz-gold-coins/pre-owned-2017-uk-queen-s-beasts-the-dragon-1o-(1)

2 in stock as well 🙂😉

[FoolzGold]

So that's the two dragons being sold at 14% over spot. The lion is going to go for over 20% and the 2 griffins probably more like 30%+ over spot.

 

Edited December 6, 2018 by FoolzGold
Wrong figures...

[FoolzGold]

1 hour ago, Bdean316 said:

13.1%  by my maths 🤓

Sorry, miscalculated. Not used to looking at GBP prices. 😕

 

[vand]

there comes a point where you are so sick and tired of something that you just want to liquidate it at any price and happy to take a big loss just to get rid of it and out of your mind. It's the sort of sentiment that is pervasive at the bottom of a bear market.

I honestly think we'll look back on the OP and say "that was the moment we knew the bottom was in."

[Cornishfarmer]

I hope he didn’t take out of gold and put in the stock market last week!!!!!

[Oldun]

Be careful, could be a long bottom. Da boyz wont give up without a fight.

[BackyardBullion]

Here's the rest of them!

Someone asked a few weeks ago, "how much do bullion dealers make?" 

The answer is a lot....on certain coins.

[BackyardBullion]

2 minutes ago, Bdean316 said:

And the price of gold is starting to go nuts - £980 spot now.........

Spot price craziness is due to the value of the £ taking some big hits at the moment. $ wise it is still around $1250/oz which has not changed much 

[BackyardBullion]

At least gold is better than bitcoin....

[FlorinCollector]

3 minutes ago, BackyardBullion said:

At least gold is better than bitcoin....

Only if you accumulated all ur btc in the last year 😁😉

[Roy]

1 hour ago, Bdean316 said:

wonder what it was like to hold a shed load of gold the night before the Brexit vote and then wake up in the morning with a 20% uplift in price due to the FX! 

The best bit was...

HGM were on a daily fix then. They fixed, went home and had gone to bed.

As the results came in, the (open) markets reacted and gold spiked!

HGM were still on the daily fix...kerrrrrching!

[eljefe]

For me gold is a hedge not a trading instrument, for that I have brokerage accounts and trade SPY. Gold is a very portable and discrete method of holding value.