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Basics On Buying Gold

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So, I guess trawling through the forums might offer the advice I'm after. But, trying to take a shortcut can anyone suggest a book, website or just advice on how to start buying gold?

Some peramaters. Would want physical, not paper. Not sure therefore how to store (safe, hole in garden, biscuit tin in loft). What to buy (coin, bars, size). Then given what, where, although have followed some of the discussions on here

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Have a look at sovereigns, they are CGT exempt. Gold is VERY expensive in £ at the moment though it being priced in $ and all. There are some daily prices here (although I am not promoting their site and have not used them) http://goldline.co.uk/bullionCoins.page

Edit: It is very easy to buy, call selected vendor, get price, pay with debit card. Wait a day or two from postman to bring package of lovely shiny things.

Edited by UncleMeat

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You have to trust who you are buying off . could be lump of lead painted gold. How do you test it. imagine owning your gold for five years and finding out its counterfiet when you come to cash it in.

The royal mint do 1kg bullion bars.

I reckon if you used 1kg gold bars as door stops , who would suspect they were real.

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Thank you some good ideas and will explore. Do like the idea of gold door stops :)

Have been kicking round costcos looking at their small safes and wondering about gold for the last eighteen months or so. Guess I have missed the current boat and should have bought pre brexit. Oh well, wait for the cycle to downturn and then see. Feel too much (all of my money) is tied up in cash and don't really trust the system

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Pretty much what UncleMeat says.I've used Goldline in the past and have no complaints with them.

Stick to Sovereign or Brittania coins as there's no CGT.

Buy less than £5,000 in value to stay off the radar.

Unless you're dealing with huge amounts of the stuff i'm sure you can find plenty of ingenious places to hide it (eg: between the pages of some books) and plenty of places sell fake Heinz Beans tins or fake hollowed out books (see Amazon).

if you're worried about your house burning down and ending up with a pool of molten gold buy a small fire safe and hide or disguise that.

If you want to confirm what you've bought is the real deal get a Fisch - https://www.thefisch.com/

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The best way to buy gold in my opinion is https://www.bullionvault.com

You pay very little spread, currently the buy/sell spread on physical coins is £50, bullionvault it's £4

Bullionvault is liquid, you can buy and sell at any time, whereas with physical coins you need to travel around to shops

It can't be stolen from them, and it's physical allocated gold, so you own it the same as coins

It's also good for buying silver, which due to having VAT applied in the UK physical has massive spreads. You don't have any of this problem with bullionvault

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Thanks,

Don't wish to to buy paper, thinking of physical gold as it seems to me that buying paper and having it stored means that your whole trust needs to be with the holder. That's why I'm looking into it, I don't trust fiat money so want something that can't be degraded or stolen (other than directly by burglars). Have been looking at Britannias from the Royal mint. Don't seem to be significantly more expensive than from other outlets and I would guess that there is no danger of being sold something that isn't genuine.

Another question based on this. How difficult is it to resell? It seems that firms are happy to buy back what they have sold and the Royal mint will only buy back if you store with them, not if you take physical delivery.

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