warpig Posted November 28, 2008 Share Posted November 28, 2008 Quick Summary: You can either buy bullion or coins and store it in a bank of your choice for about £100/annum or buy allocated gold bullion in somewhere like bullionvault. Do not buy ETF's and do not buy unallocated gold. Gold will go up with 100% certainty. Try and buy british coins rather than bullion as bullion needs to be sent of and tested to the best of my knowledge (acid test) where I don't believe this is the case for coins should you want to sell. British coins like Britannias and sovereigns are captial gains tax exempt and are what everyone UK based wants, good luck if you can find them. I bought some today at about £615 each. Also each purchase should be < £5K /day/dealer and per dealer you should not exceed £10K/annum otherwise they want additional proof of identity, the less of a paper trail the better. Follow the GEI link posted earlier. BTW - coininvestdirect.com are excellent Quote Link to comment Share on other sites More sharing options...
FaTB Posted November 28, 2008 Share Posted November 28, 2008 I would steer clear of bullionvault. Don't ask, just be (very very) careful. Well I am asking. No need for any names or specifics, but have you personally had a problem with them, or is it just hearsay ?? Or do you work for a competitor ?? Quote Link to comment Share on other sites More sharing options...
oracle Posted November 28, 2008 Share Posted November 28, 2008 Don't buy physical Gold - easier to just buy an ETF ETFS (GBP) LSE GLD (USD) NYSE Don't be daft. Wait for the ultimate heist in the guise of "nasty russian hackers snatching your pension fund" You want tangible stuff...either in your hot little hand,or stored in a vault with the receipt to prove you own it. If stored in a vault,it needs to be secured in a vehicle with PROPERTY rights. Unallocated accounts usually only have credit rights...meaning if you put 10k in,you are only entitled to 10k back....if the SHTF and a tin of beans now costs £500 a time,you're a bit shafted if the physical gold has shot to the moon. Supply and demand.....and ETF's are as such,a fractional reserve version of the real asset...and therefore can be defrauded and tampered with. Quote Link to comment Share on other sites More sharing options...
whojamaflip Posted November 28, 2008 Share Posted November 28, 2008 (edited) to answer, 1 as an investment 2 to hedge against inflation / currency collapse 3 as a "worst case" option in case of systemic meltdown. 1) I would say go with SPDR since it has 758 tonnes so in theory should be the most liquid, lowest spread, physically backed instrument. (i said theory, I have not looked at the prices). 2) inflation hedge, for mild inflation then a cheaper EFT (that might have systematic risk issues) might serve well. but for an outright collapse you are risk of governments making it illegal to hold gold or whatever.. see next 3) better to (secretly) hold physical gold that is easily traded (bartered for food or transit to brazil) so gold sovs or 20franc coins. for less dramatic collapse, then maybe the ZKB ETF bought via a swiss online broker. personally speaking - the only reason to hold gold is 3). so I would recommend holding 5 sheets (100) of sovereigns. hide them somewhere & make your grandkids very happy when you pop your clogs. ------edit--- about etfs.. - ETFs have an annual administration fee which makes them uncompetitive for medium and long term investors - ETFs are not direct ownership of physical gold - ETFs like many financial products have indemnification, intermediation, counterparty and custodian risk Edited November 28, 2008 by whojamaflip Quote Link to comment Share on other sites More sharing options...
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