jimbo1968 Posted January 11, 2009 Share Posted January 11, 2009 What is the situation if I want to buy 50 sovereigns? Are there many places with them in stock and where might I find the best prices? Quote Link to comment Share on other sites More sharing options...
needle Posted January 11, 2009 Share Posted January 11, 2009 What is the situation if I want to buy 50 sovereigns? Are there many places with them in stock and where might I find the best prices? Hey Jimbo, thats mighty big talk for someone with only 11 posts. Anyone would swear that you hadn't a clue what you were talking about. Try this thread - apparently you can buy 'em from newspaper ads now.... Quote Link to comment Share on other sites More sharing options...
pppeter Posted January 11, 2009 Share Posted January 11, 2009 (edited) The offer in that thread is more likely to be a scam than a good investment. Also, if you want 50 then you'll surpass the £5k transaction limit above which the seller is required to furnish HMG with your name and address. There is also a £10k/year limit with a single retailer so shop around and buy a few from each of a number of sellers. http://bullion-central-uk.blogspot.com/ There are guys on ebay who do sovs in chunks of 10, 20 etc. Edited January 11, 2009 by pppeter Quote Link to comment Share on other sites More sharing options...
john mitchell Posted January 12, 2009 Share Posted January 12, 2009 you want 50 then you'll surpass the £5k transaction limit above which the seller is required to furnish HMG with your name and address. There is no disclosure to customs, this is a myth that is constantly perpetuated in this forum and refuses to die. You have to give I.D when spending more than £5000 for money laundering purposes - THIS IS IMPOSED BY THE EU, AND HAS NOTHING TO DO WITH CUSTOMS AND REVENUE. ID is kept on file at the dealers and then if you turn out to be a crook then a court will demand that info to be provided. If you want large amounts of Sovs, Baird and co has them in stock and will give discounts (in my experience) off the website listed price: http://www.goldline.co.uk Otherwise try ATS bullion who are pricier usually but equally reputable. Don't bother with Chard or coininvestdirect who have been very dissapointing recently... take it from me grrrr Quote Link to comment Share on other sites More sharing options...
georgethefourth Posted January 12, 2009 Share Posted January 12, 2009 Don't bother with Chard or coininvestdirect who have been very dissapointing recently... take it from me grrrr why do you say that john? i havent bought from them yet but was thinking about it. what was wrong with their service? fwiw ive always founds weightons good and airedale was very prompt Quote Link to comment Share on other sites More sharing options...
argentos Posted January 12, 2009 Share Posted January 12, 2009 Don't bother with Chard or coininvestdirect who have been very dissapointing recently... take it from me grrrr That is not my experience. CoinInvest delivered today - no problem. Chard phoned this morning to say they will deliver tomorrow. Each was cheaper than Baird for what I wanted on the day I ordered. Quote Link to comment Share on other sites More sharing options...
Steve Smith Posted January 12, 2009 Share Posted January 12, 2009 What is the situation if I want to buy 50 sovereigns? Are there many places with them in stock and where might I find the best prices? try allgoldcoins on EBay Quote Link to comment Share on other sites More sharing options...
jimbo1968 Posted January 12, 2009 Author Share Posted January 12, 2009 OK thanks, that gives me plenty of places to call. What premium am I likely to pay? The reasn I said 50 is because that is a price break on taxfreegold.co.uk at 8.5%. Is that a realistic premium? or too high? too low (no stock)? I would buy in smaller lots if there is no big ramp up in premium to pay. Quote Link to comment Share on other sites More sharing options...
Charliemouse Posted January 12, 2009 Share Posted January 12, 2009 Mabey here http://www.coininvestdirect.com/main.php?a=10&id=1 Quote Link to comment Share on other sites More sharing options...
argentos Posted January 12, 2009 Share Posted January 12, 2009 I would buy in smaller lots if there is no big ramp up in premium to pay. Don't forget to factor in postage and packing, which can be outlandish for small orders from some suppliers. Quote Link to comment Share on other sites More sharing options...
id5 Posted January 13, 2009 Share Posted January 13, 2009 There is no disclosure to customs, this is a myth that is constantly perpetuated in this forum and refuses to die. You have to give I.D when spending more than £5000 for money laundering purposes - THIS IS IMPOSED BY THE EU, AND HAS NOTHING TO DO WITH CUSTOMS AND REVENUE. ID is kept on file at the dealers and then if you turn out to be a crook then a court will demand that info to be provided.... Disclosure is required specifically for investment gold, here is the Link to HM Revenue & Customs, read section 3.1 and this HMRC notice exlpains that the have been renamed the VAT Financial & IPT Team. You are correct that there is a EU regulation as well for money laundering but the value is now set at £9,000, the details are here and is enforced by HM Revenue & Customs Quote Link to comment Share on other sites More sharing options...
john mitchell Posted January 13, 2009 Share Posted January 13, 2009 (edited) Disclosure is required specifically for investment gold, here is the Link to HM Revenue & Customs, read section 3.1 and this HMRC notice exlpains that the have been renamed the VAT Financial & IPT Team. You are correct that there is a EU regulation as well for money laundering but the value is now set at £9,000, the details are here and is enforced by HM Revenue & Customs With all due respect ID5 you have not read it correctly. the final line of that section is the important one and i quote 'You do not need to notify us of subsequent supplies' In other words this section is saying that THE FIRST TIME EVER that a bullion dealer does a deal of £5000 or more, he must notify customs so that they can keep an eye on hime - ie they want to be aware that he is a dealer and could therefore be a target for a customs investigation (as they love investigating bullion related companies) It is NOT saying that they must notify EVERY time they sell £5000. It is their process to register all bullion dealers and keep track of them. I hope this has dispelled the rumour once and for all? Ask Bairds what they do with their IDs and they will tell you - sweet f**k all apart from filing them away. Edited January 13, 2009 by john mitchell Quote Link to comment Share on other sites More sharing options...
argentos Posted January 13, 2009 Share Posted January 13, 2009 Don't bother with Chard or coininvestdirect who have been very dissapointing recently... take it from me grrrr That is not my experience.CoinInvest delivered today - no problem. Chard phoned this morning to say they will deliver tomorrow. Each was cheaper than Baird for what I wanted on the day I ordered. And Chard did indeed deliver this morning. Order correct and undamaged. Quote Link to comment Share on other sites More sharing options...
john mitchell Posted January 13, 2009 Share Posted January 13, 2009 And Chard did indeed deliver this morning. Order correct and undamaged. I'm not saying that either company is dodgy, all im saying is that Chard has rarely had the coins I have wanted since September, in fact he has been very very low on anything. Coininvestdirect have sent me poor quality coins in the past, so they are in my bad books. Im not saying don't buy from them, im just saying that I feel safer when dealing with ATS or Bairds. Quote Link to comment Share on other sites More sharing options...
argentos Posted January 14, 2009 Share Posted January 14, 2009 (edited) double posting deleted Edited January 14, 2009 by argentos Quote Link to comment Share on other sites More sharing options...
argentos Posted January 14, 2009 Share Posted January 14, 2009 I'm not saying that either company is dodgy, all im saying is that Chard has rarely had the coins I have wanted since September, in fact he has been very very low on anything. Coininvestdirect have sent me poor quality coins in the past, so they are in my bad books. Im not saying don't buy from them, im just saying that I feel safer when dealing with ATS or Bairds. Ah, so! Understood. I go more on price, quick delivery and low p&p charges than quality in bullion. Quote Link to comment Share on other sites More sharing options...
id5 Posted January 14, 2009 Share Posted January 14, 2009 With all due respect ID5 you have not read it correctly. the final line of that section is the important one and i quote 'You do not need to notify us of subsequent supplies' In other words this section is saying that THE FIRST TIME EVER that a bullion dealer does a deal of £5000 or more, he must notify customs so that they can keep an eye on hime - ie they want to be aware that he is a dealer and could therefore be a target for a customs investigation (as they love investigating bullion related companies) It is NOT saying that they must notify EVERY time they sell £5000. It is their process to register all bullion dealers and keep track of them.... It is collection by proxy, the information is collected by the dealer on behalf of HM Revenue & Customs, there is method in their madness as they do not have to process and store thousands of deals themselves, they demand that the dealer does it for them. The point is that you cannot go to Bairds and demand that your details or that of the deal is removed. The end result is the same, regardless of who the proxy agent for HMRC is, every high value trade is effectively recorded by HMRC. People on this forum are concerned that HMRC know that the deal has been done, or have the ability to trace that the deal has occurred because of the possibility of confiscation or forced selling at a set price. If the government wants to impose either of these then they can, HMRC has the details of these transactions stored by its proxies, the dealers. IMHO this is false worry unless the gold was purchased in the last few months before any change in the laws on gold ownership. The answer to the HMRC when told to sell or hand the gold over is ‘But I have already sold it in a number of small trades to small jewellery shops, friends, people I met in the pub’. If someone that still held the gold wanted to sell it then all that needed to be done is to melt it with a gas soldering torch with silver, in the correct proportion, into a short rod then using a hammer make it into a bangle and sell it as jewellery, the government are not going to ban jewellery. Quote Link to comment Share on other sites More sharing options...
john mitchell Posted January 16, 2009 Share Posted January 16, 2009 IMHO this is false worry unless the gold was purchased in the last few months before any change in the laws on gold ownership. The answer to the HMRC when told to sell or hand the gold over is ‘But I have already sold it in a number of small trades to small jewellery shops, friends, people I met in the pub’. If someone that still held the gold wanted to sell it then all that needed to be done is to melt it with a gas soldering torch with silver, in the correct proportion, into a short rod then using a hammer make it into a bangle and sell it as jewellery, the government are not going to ban jewellery. You have hit the nail on the head here. People are worried about confiscation by the government, but if you actually think it through it would be impossible to enforce, as you have highlighted. If the government ring you up and say 'oi where's ur gold, we're here to nick it' you can give any number of explanations for why you no longer have it. They simply couldn't take people's gold even if they wanted to, and believe me they know it. Quote Link to comment Share on other sites More sharing options...
endgame Posted January 16, 2009 Share Posted January 16, 2009 (edited) If someone that still held the gold wanted to sell it then all that needed to be done is to melt it with a gas soldering torch with silver, in the correct proportion, into a short rod then using a hammer make it into a bangle and sell it as jewellery, the government are not going to ban jewellery. And you thought cleaning a sovereign with flash was a bad idea!! Now you suggest melting, mixing and bashing with a hammer.....? Edited January 16, 2009 by endgame Quote Link to comment Share on other sites More sharing options...
argentos Posted January 16, 2009 Share Posted January 16, 2009 And you thought cleaning a sovereign with flash was a bad idea!! Now you suggest melting, mixing and bashing with a hammer.....? It's the way you tell 'em! Quote Link to comment Share on other sites More sharing options...
id5 Posted January 17, 2009 Share Posted January 17, 2009 And you thought cleaning a sovereign with flash was a bad idea!! Now you suggest melting, mixing and bashing with a hammer.....? For bullion coins where the goverment is going to only give you a percentage of the price then yes. For numismatic coins that you cannot get out of the country to foreign dealers or can't wait for the law to change, that's your choice Quote Link to comment Share on other sites More sharing options...
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