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You Don't Have Gold? Or Silver?

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Perahps you could give a quick 'idiots guide' on how to buy/invest in gold and silver?

Would be really helpful for a novice like me.

Thanks

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More interested in silver

Buying silver in the UK is a pain. It's subject to VAT when purchased new, which makes it expensive compared to spot prices.

I think ebay is your best bet, unless you want to import it from the US, but this will still be subject to VAT assuming customs get involved. Importing 50oz from The Silver Exchange with postage, VAT will still cost you around £5.50-£6.00 an oz, so it isn't cheap.

The price on ebay seems to be around £6/oz, unless you go for old silver coins, pre-1947 which were 50% silver content. I picked up some of these for around £3/oz, but they're all tatty old coins - those nice shiny silver bars / coins are much nicer to look at...

Regards,

crude.

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Not another Gold thread!

...look on the bright side....when everyone else jumps on the bandwagon we well be rolling in it!!!....what better way to exact revenge on a BTL than trade one of his houses 2 years hence,for a couple of krugerrands that set you back a grand in 2005?

could be a classic case of what goes around comes around!!...just gotta take the bull by the horns and go for it!

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I have a question.

What is it about gold that makes it store value, as if by magic. I am naturally suspicious, can someone explain?

I am used to looking at supply/demand fundamentals in markets. Where is the demand coming from, apart from other investors looking to store value?

And what about supply? In my part of Argentina there are some massive gold mines starting up. Barrick is pouring money into the place.

Any help would be appreciated.

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Guest muttley
we'll see.

some people were STR'ing in 2001 coz they thought that was it. and look what happened  :huh:

And some people are getting into BTL in 2005 thinking it's a one-way ticket?

They've probably got their own cartoons laughing at all the missed-the-boats.

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Right, so I was missing something.

So it _is_ inflation proof, and does not attract punitive taxation.

Not really pension material, since a return of around 7% inflation

adjusted is needed that wiould mean >10% before tax.

It would be nice too have a few bars lying around though :D

ABB

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Sovereigns and Britannias are UK legal tender and therefore exempt from capital gains tax.

Capital Gains Manual - CG78307

Currency: coins: legal tender

Coins are to be regarded as currency only if they are legal tender at the time of their acquisition or disposal. Coins which are currency but not sterling, for example Krugerrands, are chargeable assets.

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Not sure Dunroamin.......they might be...but then again...they might not...hope this has helped you...

nope - but u made me giggle :)

now ... lets hear from one of the experts .....

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Not sure Dunroamin.......they might be...but then again...they might not...hope this has helped you...

They are foreign currency (South Africa) and therefore not UK legal tender.

Sovereigns and Britannias are Sterling.

1 Sovereign = 1 GBP

1 Britannia = 100 GBP

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Guest The dude
nope - but u made me giggle  :)

now ... lets hear from one of the experts .....

Just to let you know Dunroamin...I haven't forgotten those personal messages you sent me - totally uncalled for....

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They are foreign currency (South Africa) and therefore not UK legal tender.

Sovereigns and Britannias are Sterling.

1 Sovereign = 1 GBP

1 Britannia = 100 GBP

so whats the deal with CGT on these goldmoney accounts then?

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so whats the deal with CGT on these goldmoney accounts then?

hasnt everyone got a capital gains limit of about £8.2k p.a anyways? I would imagine your supposed to declare it on a tax return :lol:

EDITED:

Actually the dirty lil scumbags would get you for sure, so i prolly should just laugh it off

Edited by theChuz

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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