Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

Gold sold - my lessons learned


mr-dead

Recommended Posts

So now I have sold my entire gold stack I thought I would post some of my lessons learned for anyone that may be interested.

Total amount of gold sold - just under 55oz

A total mishmash of coins, bars, bullion and semi numi stuff.

 

My lessons learned

1) Fractionals at 1/4oz or under are defo easier to sell than larger items.  Older Pandas were the most popular followed by the lunar series and retain the greatest premium.

2) Bars do not sell as well as coins (no problem at the dealer but you will get a lower payment compared to selling privately)

3) It takes a lot of time and hassle to piece out your stack if you want to maximise profit, the more diverse the stack the longer it will take.

4) Having physical gold makes it harder to react to spot price, when you decide to sell you will be praying spot price doesnt take a big hit on the way to the dealer.

5) Atkinsons pricing is based on either an AM or PM price fix (I got todays 3 PM price fix at just over £1000oz)

6) Make sure you keep a good spreadsheet of your stack - makes life a lot easier at selling time.

7) I know this is  "thesilverforum" but I am so glad I put my money in to gold over silver.  I cant imagine how long it would have taken to sell the equivalent value in silver compared to my gold stack as it would have had to be private sales to make up for any VAT and increased premiums on silver coins/bars.


My stacking strategy moving forward:

I plan to continue buying gold on the next dip but my approach will change significantly.

1) I will split funds between a physical stack and a bullionvault account

2) Physical stack will consist of 100% sovereigns, used as a long term retirement investment.  

3) I will not stray into the semi numi coins for simplicity and easier selling when the time comes.
 
4) Bullionvault account will be used for real time buying/selling in relation to spot price movements and will also enable me to play the GSR ratio when possible.


Summary.

It was a very strange feeling walking into atkinsons this morning with a box holding a few years of hard work and dedication.  

The big plus side is that gold stacking has enabled me to save far more money than I ever would have managed if I was just banking fiat.  I will get a real sense of satisfaction when I settle my mortgage 11 years early saving a lot on interest payments and ensuring a safe and secure future for my family.

OTHERS OPINIONS MAY VARY :)

 

 

 

 

Link to comment
Share on other sites

No accountants required.

About 45% of stack was UK legal tender so no CGT.

On the remaining stack I probably made approx £6k profit so under the CGT limit.

CGT limit is currently £11,100 (but dont forget your wife's allowance on top ;) )

 

Link to comment
Share on other sites

@Cornishfarmer you must have the ultimate stack!

Don't forget your spouse can take some of the gains, really if someone is having capital gains liabilities in 1year the stack/entering price must be quite something.

 

The Gold Sovereign

The Gold Sovereign aims to provide the most complete online resource to collectors of the world's most popular gold coin - the Sovereign.

www.thegoldsovereign.com    |    contact@thegoldsovereign.com

Link to comment
Share on other sites

Thanks for the informative summary and congrats on clearing the mortgage! I think that was a wise decision. I do like silver but the more I learn about PM the more I sway to towards gold too :) I still have a monthly budget  for both gold and silver and will also diversify a bit less for the stacking.

Link to comment
Share on other sites

Quote, Extra-quote and Iper-Quote your new strategy.

As a newbie, strangely, I'm already doing exactly the same:

1) Hold the phisycal in small size coins (the most liquid are the sovs, all over the world) for my retirement period. Tiny trading activity allowed, just to lower the average cost of the phisical buys 

2) Already have a BullionVault account. I was awake at 5.30 AM (GMT+1) the 24th, when Brexit was confirmed. Believe me, impossible to sell phisical items at those peak prices. So, I'd say, a gold account for trading or fast and easy cash-out, if you need.

Now, next step, it's collecting data about alternative gold trading platforms: 

- BitGold: already discarded; hidden limits in internal vaults' transfers, high fees, btc cash-out not allowed (opinion based upon net reviews)

- Vaultoro: collecting data: pro: btc deposit/withdrawals; high-level of privacy: fees similar to BullionVault

Any other hint is appreciated.

 

Good job, @mr-dead

 

Link to comment
Share on other sites

Thanks for sharing your story with the rest of us.

And thanks for a good deal on the panda.

I have a bit different approach to stackin

1st I am not a stacker, I am a true collector.

Trying to get hold of full series, tho a comlete collection can be more worth as a hole instead if its peases.

I now have a full set of 1oz/39g Silver pandas ungraded, also have a lot extra singles

Graded NGC MS70 and MS69 is my new game, I have 2016 - 2007 in MS70

And I have about 25 MS69 + to get my hold on to get a god register about grade

There are some old slabs I would like to get my hands on for sure

 

Congrats to get to gol finely, I will be ther in the future

Bosse

Link to comment
Share on other sites

5 hours ago, mr-dead said:

My stacking strategy moving forward:

I plan to continue buying gold on the next dip but my approach will change significantly.

1) I will split funds between a physical stack and a bullionvault account

2) Physical stack will consist of 100% sovereigns, used as a long term retirement investment.  

3) I will not stray into the semi numi coins for simplicity and easier selling when the time comes.
 
4) Bullionvault account will be used for real time buying/selling in relation to spot price movements and will also enable me to play the GSR ratio when possible.

The exact same strategy I already use for gold, and i use the same for silver as well, with sterling silver flatware taking the place of sovs.

My biggest mistake in the past was listening to the semi numi guys on here, It may work for others, but in my case it was and still is, (until I can get rid of all my silver coins) a total disaster. 

Link to comment
Share on other sites

Great summary! My thoughts are similar with sovereigns for the stack - as they are easy to sell and my plan is to have one for each month of retirement to cover the shopping bill (that's the plan anyway).

I may use the current price to sell on all the 'odds' accumulated over the years.

I use ETFs for trading the spot price, but they are restricted to market hours. Is BV 24/7? As it has been a while since I looked at BV you have prompted me to go back and check!

ST

Link to comment
Share on other sites

13 hours ago, savoyard said:

On the topic of cgt. Does the buyer (say Atkinsons) have the duty to inform the hmrc or is it your responsibility?

From memory the law states that HMRC should be informed of any purchase above £5K or £10K over a 12 month period. I just assume they tell them everything though.

Money laundering Regs I think.

Currently stacking 1/4 oz (22ct) and Sovs.

Link to comment
Share on other sites

Friend of mine pulled his entire stack from storage yesterday and is planning on taking it to a well known bullion dealer today. 70 krugs and 90 sovs, shame the price has dropped somewhat since yesterday. I wonder if he'll still sell?

Profile picture with thanks to Carl Vernon

Link to comment
Share on other sites

Highland Tiger qoute........."My biggest mistake in the past was listening to the semi numi guys on here, It may work for others, but in my case it was and still is, (until I can get rid of all my silver coins) a total disaster." 

Excellent advice quote imo..............Semi Numis NOT ONLY Numis are for serious, knowledgeable collectors only imo.........If you are stacking just for investment only just stick with Bullion and CGT free if talking about large amounts. 

Buying semi numis or numis,with a view to selling them is a highly subjective area all this stuff, most of it b/s imo, about condition,grading etc.Grading for instance you can even get your slabbed NGC and.PCGS, stuff  graded further still by other companies,.not sure of their names.Quality Control or something similar and another one that gives you a little green sticker on your slab if they agree with the NGC grading for instance............Premium upon premium and constant subjective arguing about condition when selling.

Where does it all end will an MS 70 graded on the 3rd Tuesday in the month soon be worth more than one sadly graded on the 2nd Monday instead.

Not knocking it at all if its you're thing but for investment purposes pure Bullion CGT free is the only way to go imo.

If collecting........then fair enough you might want all the Lunars ever minted.....but a bad move in my humble opinion if you simply want to accumulate as many ozs as you can afford.

 

 

 

 

 

Link to comment
Share on other sites

I just sold all 80oz of silver I had today all brought in 2014 after a quick look it looks like I broke even or made a small loss but just wanted rid.

I brought most from STG, a mix of most of the 1oz coin's they had, and the only thing that made me money was the Canadian maple leafs (lucky I brought loads). I lost money on the rest... yeah I could of messed around trying to sell them at a profit but the time and effort was not worth it.

But the GOLD :) I made between 20% - 30% profit on the ones I sold 

My advice on gold... BUY sovereigns nothing else I got 98% spot selling but only offered 90% for foreign gold coins (I didn't sell). every pawn shop has seen a sovereign most haven't seen a french 20F or a 4 Ducat and that makes it hard work to sell. 

 

Link to comment
Share on other sites

9 hours ago, Ravinella said:

 

Not knocking it at all if its you're thing but for investment purposes pure Bullion CGT free is the only way to go imo.

 

 

 

 

 

 

Are you including silver here?

If you buy cheap bullion silver and sell to a dealer then don't you need a ~30% rise to break even?

Link to comment
Share on other sites

If you buy cheap bullion silver and sell to a dealer then don't you need a ~30% rise to break even?

I don't get this "sell to a dealer" thing, why do people get so hung up on it.

People do it with gold because of the buy / sell spread. That's not a reason to suggest doing so with silver, in fact I don't know anybody who has ever done it with silver.

I'd proffer that keenly bought silver can be sold on eBay individually for a profit, and as a bulk lot for less of a profit.

I have worked out numerous times that STG bought silver, even when sold in tubes, will net a very tiny profit after fees on eBay. Not enough to make a business out of, but that's not the point.

You'll note from HGM that very rarely do they have silver coins, because people know they can get far more privately.

Stacker since 2013

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use