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Some advice for a newbie


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Hi everyone, hope your all having a great day. Just after some advice really I’m looking to start investing into gold and silver mainly for my retirement which is about 38 years away. But just wondering can anyone point me towards any good articles of videos explaining the differences between all the different bullion and there types please? Hope that makes sense, cheers 😁

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When asked the vast majority of members here recommend beginners starting off with bullion sovereigns. Silver has much more premium - higher price than the spot price of silver. There is no VAT on gold in the UK unlike silver. There is no capital gains tax on UK coinage. Sovereigns are easier to sell than many other coins. Look to pay just a few percent over the spot price of gold. Remember sovereigns are 22ct gold - not pure gold - you just need to factor that in with calculations. Half sovereigns tend to be a little bit more expensive per gram of gold. Personally i like older sovereigns - they are a yellower colour, newer sovereigns have more of a copper colour. i think many people prefer the older ones.

Cut your teeth on a few sovereigns and half sovereigns - good places to look at Hatton Garden Metals, Atkinsons Bullion, Chards - then you might have a local coin dealers who you can go see and have a chat with. Steer clear of ebay until you are more experienced - there might be a local auction house - again i would leave this until you have more experienced.

The forum is a good place to look for coins but you really need a premium membership so you see items for sale as soon as they come up. You need to set the UK and Europe section to alert you with an email when a new sale is posted.

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, Oldun said:

Research CGT if you live in The UK. That is a starting point if you are referring to physical.

Ok thank you @Oldun

3 hours ago, sixgun said:

When asked the vast majority of members here recommend beginners starting off with bullion sovereigns. Silver has much more premium - higher price than the spot price of silver. There is no VAT on gold in the UK unlike silver. There is no capital gains tax on UK coinage. Sovereigns are easier to sell than many other coins. Look to pay just a few percent over the spot price of gold. Remember sovereigns are 22ct gold - not pure gold - you just need to factor that in with calculations. Half sovereigns tend to be a little bit more expensive per gram of gold. Personally i like older sovereigns - they are a yellower colour, newer sovereigns have more of a copper colour. i think many people prefer the older ones.

Cut your teeth on a few sovereigns and half sovereigns - good places to look at Hatton Garden Metals, Atkinsons Bullion, Chards - then you might have a local coin dealers who you can go see and have a chat with. Steer clear of ebay until you are more experienced - there might be a local auction house - again i would leave this until you have more experienced.

The forum is a good place to look for coins but you really need a premium membership so you see items for sale as soon as they come up. You need to set the UK and Europe section to alert you with an email when a new sale is posted.

what type of sovereigns should I look to buy @sixgun as in any specific dates or I think I seen ones that are graded is it worth buying them purely for investment and not collecting?

3 hours ago, HelpingHands said:

 

Brilliant thank you @HelpingHands I will take a look shortly 

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i would not buy graded coins - there were very few graded coins on the forum until recently. Personally i do not have any. Numistacker provides a grading service and quite a few members have got involved. i see quite a few graded coins for sale now but this is something that does not interest me. i would concentrate on getting raw (ungraded) basic bullion sovereigns - so you are buying gold, not something fancier you don't fully understand and so could be making an unwise purchase. As you learn you can get into graded coins if you like but not as a newbie. You can't really make a mistake getting a basic bullion sovereign from a reputable source at a few percent over spot. Then squirrel them away.

i like the older sovereigns - but any full and half sovereigns at a few percent over spot - so right now Hatton Garden Metals are putting these out at the low £240's to mid £240's. i would not get the low grade coins - these could be really dog rough. You want something that is a decent coin and decent value.

https://www.hattongardenmetals.com/buy/cid13/gold-sovereigns

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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15 minutes ago, sixgun said:

i would not buy graded coins - there were very few graded coins on the forum until recently. Personally i do not have any. Numistacker provides a grading service and quite a few members have got involved. i see quite a few graded coins for sale now but this is something that does not interest me. i would concentrate on getting raw (ungraded) basic bullion sovereigns - so you are buying gold, not something fancier you don't fully understand and so could be making an unwise purchase. As you learn you can get into graded coins if you like but not as a newbie. You can't really make a mistake getting a basic bullion sovereign from a reputable source at a few percent over spot. Then squirrel them away.

i like the older sovereigns - but any full and half sovereigns at a few percent over spot - so right now Hatton Garden Metals are putting these out at the low £240's to mid £240's. i would not get the low grade coins - these could be really dog rough. You want something that is a decent coin and decent value.

https://www.hattongardenmetals.com/buy/cid13/gold-sovereigns

ok thank you @sixgun I shall have a little look around see if I can find anything I like and hopefully will make my first purchase on the weekend, Hoping to make a purchase every month going forward

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I say this as a sound money believer: any discussion of retirement investment needs to begin with understanding how to take advantage of tax advantaged accounts and employer contribution matching, not with PMs, as important as you might consider their current and future role

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  • 2 weeks later...
On 25/04/2019 at 13:27, sixgun said:

When asked the vast majority of members here recommend beginners starting off with bullion sovereigns. Silver has much more premium - higher price than the spot price of silver. There is no VAT on gold in the UK unlike silver. There is no capital gains tax on UK coinage. Sovereigns are easier to sell than many other coins. Look to pay just a few percent over the spot price of gold. Remember sovereigns are 22ct gold - not pure gold - you just need to factor that in with calculations. Half sovereigns tend to be a little bit more expensive per gram of gold. Personally i like older sovereigns - they are a yellower colour, newer sovereigns have more of a copper colour. i think many people prefer the older ones.

Cut your teeth on a few sovereigns and half sovereigns - good places to look at Hatton Garden Metals, Atkinsons Bullion, Chards - then you might have a local coin dealers who you can go see and have a chat with. Steer clear of ebay until you are more experienced - there might be a local auction house - again i would leave this until you have more experienced.

The forum is a good place to look for coins but you really need a premium membership so you see items for sale as soon as they come up. You need to set the UK and Europe section to alert you with an email when a new sale is posted.

Good advice! I couldn’t have said it better myself. I started off with a bullion sovereign I ordered from a newspaper advertisement and everything blossomed from there.

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Whenever you see something you like try to buy from a fellow member.

Try buying from a reputable dealer if they have a deal.

Leave ebay alone.....at least until you're comfortable

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There’s this wonderful 10-point guide which I generally adhere to when buying and selling precious metals which comes from the underrated bullion company Physical Gold which is run by Daniel Fisher. He worked in the financial sector for 20 years. This makes his bullion company very different from others which sell primarily to collectors. My gold and silver investments were literally going no where before I took on Fisher’s advice. https://www.physicalgold.com/insights/selling-gold-coins/

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