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MEtallic

Gold Trading Websites

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I've come across 2 website recently that alloy people to trade gold.

http://www.bullionvault.com

http://goldmoney.com

Both charge an amount to hold the gold for you (BV $4min, GM $1.75) as well as a spread.

What are people's experiences of these sites? What it the least expensive way to buy and hold gold that is available to people in the UK? I’m not interested in hunting around for gold coins or a purely gold related managed fund.

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I've come across 2 website recently that alloy people to trade gold.

http://www.bullionvault.com

http://goldmoney.com

Both charge an amount to hold the gold for you (BV $4min, GM $1.75) as well as a spread.

What are people's experiences of these sites? What it the least expensive way to buy and hold gold that is available to people in the UK? I’m not interested in hunting around for gold coins or a purely gold related managed fund.

they are alright. many have used them but.....

My choice is to get physical nothing beats holding your own wealth in your hand.

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they are alright. many have used them but.....

My choice is to get physical nothing beats holding your own wealth in your hand.

How do you buy Gold? Take it buying all the Elizabeth Duke down argos isnt what the pros do.

What about this website http://www.taxfreegold.co.uk. I didnt realise you dont pay CGT on gold is that 100% correct?

Im guessing you pay a % on selling and buying gold from all sources what levels is this normally etc? Im assuming transaction costs are higher than shares and other such things

Thanks

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Yes you are right. They make it very hard for people to own/buy physical gold and that is their trick. To discourage the masses from taking the real money and giving their paper tree money back to banks.

I would strongly recommend is to buy/own as much as possible in physical stock and send the rest to goldline, etc.

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How do you buy Gold? Take it buying all the Elizabeth Duke down argos isnt what the pros do.

What about this website http://www.taxfreegold.co.uk. I didnt realise you dont pay CGT on gold is that 100% correct?

Im guessing you pay a % on selling and buying gold from all sources what levels is this normally etc? Im assuming transaction costs are higher than shares and other such things

Thanks

I have researched this extensively.

If you want to own physical then IMHO the best, most cost effective, flexible, accessible and tax efficient way is to buy UK Gold Sovereigns.

Most cost effective cos you can buy them for as little as 3.3% over spot price (for reasonable volume).

Flexible cos they are well known and can be sold on eBay. Unlike bars which you can only sell to dealers.

Accessible cos you can go to your local dealer to buy them for cash.

Tax efficient cos they are legal tender and not subject to CGT.

Best prices I found from Baird in London. +44 208 555 5217. Ask for Jeremy Kyd...very straightforward and helpful.

James.

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I have researched this extensively.

If you want to own physical then IMHO the best, most cost effective, flexible, accessible and tax efficient way is to buy UK Gold Sovereigns.

Most cost effective cos you can buy them for as little as 3.3% over spot price (for reasonable volume).

Flexible cos they are well known and can be sold on eBay. Unlike bars which you can only sell to dealers.

Accessible cos you can go to your local dealer to buy them for cash.

Tax efficient cos they are legal tender and not subject to CGT.

Best prices I found from Baird in London. +44 208 555 5217. Ask for Jeremy Kyd...very straightforward and helpful.

James.

I'm a little confused

As I understand it, the legal tender value is the given face value for the coin.

But then there is the bullion value which is the present spot gold price - this is usually far higher than the face value

If the coins are sold by bullion weight at a profit, the proceeds are subject to capital gains tax requirements.

If this understanding is wrong - I have my money in the wrong place.

Can anyone confirm

Oddball

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OK, you have been warned....

Just moved heavily into Gold! :) Used the GoldMoney website and apart from the initial ****-up with orders, I am now in. Will watch the Kitco update minute by minute, of course! :lol:

Gotta be in it to win it, if I get > 5% return then I'm giggling

So prepare for a sharp drop :blink:

Frank

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I'm a little confused

As I understand it, the legal tender value is the given face value for the coin.

But then there is the bullion value which is the present spot gold price - this is usually far higher than the face value

If the coins are sold by bullion weight at a profit, the proceeds are subject to capital gains tax requirements.

If this understanding is wrong - I have my money in the wrong place.

Can anyone confirm

Oddball

Go and research it.....sovereigns are legal tender as much as a pound coin is. How you go about spending it is another matter....I dont know. You cant (at the moment) be taxed on the money you simply hold. As I understand it there is no CGT on sovereigns. There may be limits, but my accountant couldnt give me a difinitive answer on this. If the sh1t really hits the fan gold is compact enough to move around un-noticed. Just say you gave it away to a high class prossi you met in a hotel who would only take gold as payment....thats why you bought it in the first place....etc etc.

James.

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Guest Bart of Darkness

The Britannia and the Sovereign are exempt from CGT as they are UK currency. All other forms of gold are not as far as I understand.

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  • 302 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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