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Gold Buying Question

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finally decided to post on this site, which I've been trying to do for a while, go easy on any overly simplistic questions, i apologize in advance.

after a little advice if you'd be so kind....

i currently possess no gold at all. i have minimal savings (around £5k), every month i put a few hundred away. after reading this site i know i should own some gold to preserve my savings given the current turmoil. my questions are:

1) i use my savings to advance myself sometimes to cater for bigger purchases, if i was to buy gold - and then in 3 months time need to sell some of it are the chances high that i would be worse off?

2) when selling gold - is there a 'best way' to do it, i.e. somewhere in particular where they don't take a cut out of your sale ?

3) is £1,069/$1,738 (excluding delivery) too much to pay for a 1oz maple leaf coin(2011) or is that roughly what i should expect to be paying?

4) is it wise to buy smaller amounts of gold i.e. 1/10, 1/4 oz gold? they seem to be quite a fair bit steeper in price compare to the 1oz ones.

5) for my personal situation - would buying on bullionvault until I've sorted out my financial issue in a few months be a better idea?

i know most of the answers will be subject to opinion but i look forward to all the responses.

Thanks in advance.

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1. Chances are you would have made a profit in 3 months. Go to bullionbypost co uk and look at their charts and history of gold. if you would have got 18k of gold 2 years ago......it would be worth 33k today.

2. best ask someone else for that.....but i know some people pay u less than the value of the gold...but these are usually traders.

3. ask someone else for a clearer answer as i dont buy coins just yet

4. if you buy smaller....you pay more overall. best off buying as much as you can to get the better deal. but also, u may want to sell it at a later date so you should take this into consideration. personally with 5k i would buy a 100g bar and 1 ounce bars.

5. never buy gold you dont own.....always own physical. the market could collapse and those places dont have a good rep online.

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also..........this game is all down to opinions......

i take what i said about number 5 back.......(this place doesnt have an edit button). i know some people who do make money with those kinda places, so they can be a good thing. but, in my opinion i would rather own physical gold.

(amended) lol

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after a little advice if you'd be so kind....

1) i use my savings to advance myself sometimes to cater for bigger purchases, if i was to buy gold - and then in 3 months time need to sell some of it are the chances high that i would be worse off?

Nobody knows what will happen in the future. There's always a risk of a price drop in the short term but those who have bought expect the rising price trend of the last decade to continue for at least a year or two. Personally, I like to have at least a few £K in the bank for unexpected problems.

2) when selling gold - is there a 'best way' to do it, i.e. somewhere in particular where they don't take a cut out of your sale ?

Every dealer must take a cut to make a profit. Hatton Garden Metals are hard to beat. If you post your metal in the morning, you'll usually have the money in the bank by the next working day.

3) is £1,069/$1,738 (excluding delivery) too much to pay for a 1oz maple leaf coin(2011) or is that roughly what i should expect to be paying?

Use www.goldline.co.uk , www.coininvestdirect.com and www.hattongardenmetals.com as price guides. Note that the most competitive deals seem to require bank transfer payment methods which aren't ideal for everyone.

4) is it wise to buy smaller amounts of gold i.e. 1/10, 1/4 oz gold? they seem to be quite a fair bit steeper in price compare to the 1oz ones.

Sovereigns and one ounce coins are usually the best deals.

5) for my personal situation - would buying on bullionvault until I've sorted out my financial issue in a few months be a better idea?

Impossible to answer. It depends upon you concerns about security.

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thanks for the replies guys.

from what I've seen HGM seems to be the easiest/cheapest for me but i;m still looking.

have a couple more questions which i'll post shortly.

Thanks again

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After doing further reading I've decided that its probably best i buy sovereigns. does it matter what age the sov is?

As long as you are only interested in bullion (i.e. not numismatics) it doesn't matter much. The main thing is to buy from a reputable dealer. Personally, I find that Victorian and Edwardian sovereigns usually have noticeable wear on them which is why I tend to prefer QEII sovereigns which are usually still in good condition. Pre decimal QEIIs are usually priced competitively.

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okay made my first order online from baird and co. a bit worried as it's not your usual ordering method (used a bank transfer).

Congratulations! :)

Please let me know what the service was like when it arrives.

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okay made my first order online from baird and co. a bit worried as it's not your usual ordering method (used a bank transfer).

Yes, that's how Baird's do it. It will be fine, I've ordered plenty of times through them and they are very reliable.

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okay made my first order online from baird and co. a bit worried as it's not your usual ordering method (used a bank transfer).

Many of us got our first gold from Baird's. I did.

Not usually the cheapest, but sometimes, if they are a little late in updating prices, you can be in and out before they correct. That is something you learn to watch out for over time with all suppliers. Don't forget to check t&c's for p&p charges, can sometimes make a more expensive coin cheaper in the long run, and vicey versey.

Other areas to check out, are local pawn shops, coin dealers, the 'we buy your gold' sharks, and outfits like cashconverters. As you will have a clear idea of what a sov should look like, you stand less chance of being jipped.

Sovs are a good reliable buy, plus there is no tax when selling, as well as when buying.

Welcome aboard.

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thanks for all the info guys.

i sent the money but haven't received any communication back from them yet.... do they normally get in touch just before dispatch or is the next hing i receive from them going to be the order? i.e. no emails after this?

thanks again.

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thanks for all the info guys.

i sent the money but haven't received any communication back from them yet.... do they normally get in touch just before dispatch or is the next hing i receive from them going to be the order? i.e. no emails after this?

thanks again.

Normally they send a confirmation once they get the money, but there have been instances when they haven't. I bank with HSBC and I think Bairds do as well because the payments normally go through pretty much instantly and I received notification from Bairds a few hours later.. The impression I get is that the process from Bairds point of view is not automated, so you are relying on someone to check the company account and then physically create and send an email confirmation once they see you've made your payment. The whole process seems a little quirky if you're used to using regular e-commerce sites such as Amazon etc, but as I said earlier in the thread I've used Bairds many times (including this week) with zero issues.

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thanks for all the info guys.

i sent the money but haven't received any communication back from them yet.... do they normally get in touch just before dispatch or is the next hing i receive from them going to be the order? i.e. no emails after this?

thanks again.

A number of dealers go silent once you pay them. HGM emailed me once, transfered the money and the Sovs arrived the next morning. HGM scared me because they took 4 days instead of 1.

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A number of dealers go silent once you pay them. HGM emailed me once, transfered the money and the Sovs arrived the next morning. HGM scared me because they took 4 days instead of 1.

I got worried after ordering from HGM until I realised that my bank Santander only do faster payments up £300 so it took 2 days to reach them. When they got it I got an email and received the coins the next day. I'll use them again.

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i got the payment received email!

time to relax......

though gold looks like it took a little hit since i bought it, could of got it cheaper! :rolleyes:

Aye, bleedin' typical innit? :D And you'll find when you eventually come to sell, if you'd held on a few more days or weeks you'd have got a far better price too!

Welcome to the rollercoaster of gold ownership. B)

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Aye, bleedin' typical innit? :D And you'll find when you eventually come to sell, if you'd held on a few more days or weeks you'd have got a far better price too!

Welcome to the rollercoaster of gold ownership. B)

I think the only thing one can do, unless one can call market tops and bottoms to perfection, is to average in and then average out.

Edited by Take Me Back To London!

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  • 338 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% +
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      • Even
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      • up 5%



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