Does Anyone Own Gold Coins ?

[winkie]

Reminds me of the early 80's when gold coins were all the rage. You could then pop into your local bank to buy your Soverign, half Soverign or Krugerrand. If I remember correctly a full Soverign cost in the region of £50 then but prices were rising fast, not long after the prices began to drop. What year did they introduce VAT?

[urban_hymn]

Reminds me of the early 80's when gold coins were all the rage. You could then pop into your local bank to buy your Soverign, half Soverign or Krugerrand. If I remember correctly a full Soverign cost in the region of £50 then but prices were rising fast, not long after the prices began to drop. What year did they introduce VAT?

I bought some Krugerrands on eBay about 18 months ago. They were each in little "Midland Bank" plastic pouches.

I wonder when high street banks stopped selling bullion???

[Its time to buy]

I bought some Krugerrands on eBay about 18 months ago. They were each in little "Midland Bank" plastic pouches.

I wonder when high street banks stopped selling bullion???

i m too young to remember that.... But really people could do that? I dont remember "midland bank" either - it became HSBC right?

I think the yuppie 80s era is very much like of today. Afluent people not in porsches but BMWs and Mercedes, and Volkswagen Golf GTIs is the norm now. Buying gold coins over the counter will probably come back, because the banks will sit up and notice how much money is made by the smaller dealers like chard and Baird. I am sure they are having a field day.

Selling loans (that we are bored of), and flogging us credit cards that shave off another 0.0001% APR, oh come on, think of something new! Selling us gold - now theres something different. theres a whole younger generation to tap into.... (come on halifax, you should pay me for this idea). Think about it, its small, valuable, cannot be destroyed easily, safe (non toxic), anyone can buy it. Now all it needs is the means of easily trading it to the masses on the highstreet.

When high street banks, post offices, and the local indian takeaway start trading gold over the counter - it might be a good time to sell (depending on the economic climate)

Come on guys write to your local bank to start selling gold again....

Edited May 6, 2006 by notanewmember

[Guest Bart of Darkness]

just tell them you blew it on booze, gambling and high class hookers and the rest you simply wasted.

An average citizen of modern Britain then.

[Charles_Darke]

I wont touch gold funds etc, for me its important to physically have the stuff in my hands where its outside the reach of the financial systems and government whims.

Yup. Since many buy physical gold as an insurance policy against financial armageddon situations, protection from the government is important. I'd store mine outside of the UK for this reason.

[bottletop]

I don't think anyone has mentioned to ebay sellers that gold has dropped so much in the last few weeks.

Lots of sovereigns on buy-it now in the £90 range. That works out at about 382 quid an ounce.

[cheeseandbeans]

Presuming that gold coins (in small quantities - sub £10k) are not held purely for investment purposes (with better ways to hold gold whilst the economy is still functioning) then they must be held for:

1. The joy of actually owning the gold, much like buying art, with the prospect of it going up in price, much like art.

This i can understand.

2. As an insurance policy for the future to tuck away for when it might be needed

Emotionally i can understand this, logically i can't.

The only situations i could envisage physical gold in small quantities being of use are similar to being the only person in town with bullets, but no gun, when everyone else has guns, but no bullets.

You'd love to sell them but how, who and where? Safely and legally. Fiat money could collapse, or any number of wild scenarios occur, but anything that made allocated gold illiquid, would do the same for physical gold.

As mentioned i can understand the emotional reasons behing buying but otherwise i'm stumped.

[goodgamegoodgame]

Presuming that gold coins (in small quantities - sub £10k) are not held purely for investment purposes (with better ways to hold gold whilst the economy is still functioning) then they must be held for:

1. The joy of actually owning the gold, much like buying art, with the prospect of it going up in price, much like art.

This i can understand.

2. As an insurance policy for the future to tuck away for when it might be needed

Emotionally i can understand this, logically i can't.

The only situations i could envisage physical gold in small quantities being of use are similar to being the only person in town with bullets, but no gun, when everyone else has guns, but no bullets.

You'd love to sell them but how, who and where? Safely and legally. Fiat money could collapse, or any number of wild scenarios occur, but anything that made allocated gold illiquid, would do the same for physical gold.

As mentioned i can understand the emotional reasons behing buying but otherwise i'm stumped.

Exactly. That's what put me off buying coins. If it gets to that stage you're not going to want to say hey everyone I've got some gold coins really are you. I think an allocated account is better. Nothing is gaurunteed, but walking around dealing in physical gold wtshtf is probably not the best idea. (imho)

[Its time to buy]

i ve bought coins not for juddgement day, but they are much harder to spend!

Think about it - its much easier to go to the building society and withdraw from my savings, than driving to london to sell up my gold coins

[goodgamegoodgame]

Yes, but at what stage of the hyperinflationary process are you going to decide to cash them in?

[Its time to buy]

i ll sell when sterling is cheap compared to other currencies

as gold is based on $ now is a good time to buy gold

when $ to £ gets back down to 1.4ish (if ever ) then its a good time to sell, as i ll get more £s out per oz

Dont have a concrete plan, but i cant imagine the high value of sterling will last forever....

[conifer]

I've got one gold half sovereign but I'm damned if I know where it is!!!

[othello]

I have a 100k to invest and was thinking of buying gold sovereigns. Gains are free of CGT. Would anybody be able to offer any advice on the wisdom or otherwise of taking this approach? Are there dealers who allow you to purchase coins but retain them until you wish to sell? Advice greatfully appreciated.

[jpidding]

I have a 100k to invest and was thinking of buying gold sovereigns. Gains are free of CGT. Would anybody be able to offer any advice on the wisdom or otherwise of taking this approach? Are there dealers who allow you to purchase coins but retain them until you wish to sell? Advice greatfully appreciated.

Baird (020 8555 5217) offer pretty good spreads (if you make it clear you are after serious volume) and will hold YOUR gold totally allocated and available for pickup anytime for about 250 quid a year.

[othello]

Baird (020 8555 5217) offer pretty good spreads (if you make it clear you are after serious volume) and will hold YOUR gold totally allocated and available for pickup anytime for about 250 quid a year.

Thanks for the advice. I'll investigate. Are they honest and reliable?

[trompe le monde]

Thanks for the advice. I'll investigate. Are they honest and reliable?

Hope so, I've just bought 10x1oz Krugerrands from their Hatton Garden branch today for collection in early January. If you're planning on buying in person, though, be warned, the guy I dealt with over the counter obviously prefers dealing with wholesale trade, so know exactly what you want before you go in and don't try and make smalltalk! Don't bother asking for discounts unless you're buying at least 20 krugers or equivalent. Also, it's cash or cheque only, no plastic.

If you walk into the shop to trade, you'll realise this all looks kosher - I'd imagine that their internet trading should be ok, but, as ever, do your own research.

Baird & Co are members of the London Bullion Market Association (LBMA) and are endorsed in this MoneyWeek link:

http://www.moneyweek.com/file/2426/gold-invest.html.

and mentioned by the Times here:

http://business.timesonline.co.uk/article/...1396656,00.html

Do a search on Baird on HPC, and you'll find lots of posts mentioning dealing with this site. You'll also find many of their bullion bars (ok, the item might be a forgery, but the name is obviously respected!) for sale on e-bay.

TLM

Edit: note that if you buy less than £5k in any one transaction or less than £10k physical gold in a year, you don't need to provide any proof of ID. Exceed this and you must present ID to comply with HM Customs and Excise legislation. If you're really paranoid this means that with small purchases you're under the radar in the extremely unlikely event of the government ever deciding to forcibly confiscate gold.

Edited December 18, 2006 by trompe le monde

[trompe le monde]

Collected my Krugers last week. Something very pleasing about actually holding over half a pound of solid gold. Not looking for massive profits, this is more of an inflation hedge.

TLM

[dnd]

Collected my Krugers last week. Something very pleasing about actually holding over half a pound of solid gold. Not looking for massive profits, this is more of an inflation hedge.

TLM

Are you predicting money supply will still climb at current rates with IR on the rise?

[trompe le monde]

Are you predicting money supply will still climb at current rates with IR on the rise?

To be honest, I have absolutely no idea - and I wouldn't claim any great investment expertise in general.

Basically I'm just trying to diversify my investments. I don't intend to hold a large amount of gold as my overall assets - to me, property and shares just seem very much overvalued and likely, set for a correction fairly soon. If I were a more experienced and aggressive investor, I'd be shorting the DOW/FTSE.

Gold has had a bull run over the last couple of years and there's any number of of exchange rate disparities, inflation/deflation scenarios, oil/gold correlation, central government bulk gold sales, etc that could cause major shifts in either direction. It's a risk, but a small one that I'll not be losing sleep over.

TLM

[headmelter]

I have never invested in gold, but have a small amount of cash 5-6k which I would like to do something with at the current price gold seems expensive but also seems to have remained stable over the last few months.

where do people see it going in the medium to long term?

Any advice greatly appreciated.

[Its time to buy]

Commodity Watch Radio

Back in time

Gold was $35 per oz

DOW Stock market was 800pts

Then Gold shot up to £800 per OZ. 1 OZ of gold to buy the DOW....!!!

Thats when you should use GOLD to purchase stocks. Asset to asset rotation.

So lets add a 0 to the figures above....

Gold £350 per oz

Dow stock market 8000pts

Quite near to the figures today ????

Gold could rise to $8000-12,000 PER OZ

if you havent listened to the Commodity watch Radio broadcasts please do - may answer the many questions you got about gold.

http://www.minesite.com/webcasts/commodity_watch_radio.html

[Hooky Monster]

Hello All,

Only my second post and already I'm asking for something.

I've been lurking for about a year after buying at the end of 2005 and then thinking - hold on a minute, was that such a good idea.

I'm considering buying some gold from goldline but I noticed in the T&Cs that the weight and dimensions of the gold may vary by +/- 5%.

This seems to be quite a variation to me.

Does anyone know if this is normal and if it can affect the value of your holding when you come to sell it?

Thanks for any light you can shed on this,

HM

[Wario]

So lets add a 0 to the figures above....

Gold £350 per oz

Dow stock market 8000pts

Quite near to the figures today ????

Gold could rise to $8000-12,000 PER OZ

Is there some technical reason for the switch from USD35/oz. to GBP350/oz.? (I get USD690-ish/oz. from that).

Or was it GBP35/oz.?

Edited January 25, 2007 by Wario

[dnd]

Anybody had experience buying 1oz Krugerrands from any of these sites?

http://www.goldline.co.uk

http://www.atsbullion.com

http://www.taxfreegold.co.uk

Are their others?

I'm looking to buy several in the near future

Do you receive new or used coins?

If they are used what condition were they in?

Edited January 25, 2007 by dnd

[markkow]

Anybody had experience buying 1oz Krugerrands from any of these sites?

http://www.goldline.co.uk

http://www.atsbullion.com

http://www.taxfreegold.co.uk

Are their others?

I'm looking to buy several in the near future

Do you receive new or used coins?

If they are used what condition were they in?

I brought some 1oz gold Krugerrands from www.goldline.co.uk, they are dated 70's and 80's and are in very good condition.

I would buy from them again.

However most of my gold and silver is from www.weightoncoin.com, and can recommend them. They sell on ebay so you can check the feedback.

I've made quite a few purchases with them and never had any problems. Just wish I'd trusted my judgement and brought much more back in 2004/2005.