Poll: Would you or wouldn't you???

[fewfe3]

I would probably think about keeping some of it, and then take a few jewellery classes and attempt to make them into rings or chains. Then sell them onto cash for gold.

 

[Psycho Sonny]

I know people who'd buy unmarked gold. Just a shame I don't have any.

i take it they would also buy marked gold from kuwait too? so what would be the point of unmarking it, apart from costing you time and money in doing so?

I would probably think about keeping some of it, and then take a few jewellery classes and attempt to make them into rings or chains. Then sell them onto cash for gold.

cash for gold shops offer you like 15% of what the spot price is. would be the worst way of doing it.

 

[Glaucus]

i take it they would also buy marked gold from kuwait too? so what would be the point of unmarking it, apart from costing you time and money in doing so?

.

tractability, and how have you got it in your head that its hard to sell unmarked gold, it is stupidly easy as long as it isn't in bar form.

 

[Psycho Sonny]

tractability, and how have you got it in your head that its hard to sell unmarked gold, it is stupidly easy as long as it isn't in bar form.

it would need to be tested, verified, etc, by drilling holes and taking shavings, etc. so it's definitely not stupidly easy. it can be done but i'm guessing it would be easier to shift it with the markings to someone who is going to melt it down anyway.

i guess the easiest way would be to buy a boat and sail to asia and then flog it there as anybody would buy it. then you have the issue of getting the money back tax free.

 

[Glaucus]

it would need to be tested, verified, etc, by drilling holes and taking shavings, etc. so it's definitely not stupidly easy. it can be done but i'm guessing it would be easier to shift it with the markings to someone who is going to melt it down anyway.

and leave yourself wide open to be caught.
and no it dosn't even need testing like that, if you are willing to take a large hit on price, for security.
it can be extremely easy to sell off as scrap jewellery etc.

 

[Psycho Sonny]

and leave yourself wide open to be caught.

i would only sell to someone i know. luckily i know someone who buys and sells on the black market. they also make gold jewelry too. i would sell at a good price so it's a win/win for both. £2 million gold for £1.5 million.

 

[Burned_Alive]

To be honest, I think I would try and exhaust most avenues for keeping hold of it. That is a once in a lifetime find. Maybe commission some crazy jewellery to be made out of it all and then sell that on.

Plus even if you only made back 20% of its true value then that is still a pretty decent lump of cash to come into.

 

[Tek81]

i take it they would also buy marked gold from kuwait too? so what would be the point of unmarking it, apart from costing you time and money in doing so?



cash for gold shops offer you like 15% of what the spot price is. would be the worst way of doing it.

No, only unmarked. It's all very hush hush...

 

[fredwi]

This place is only 4 mile from me

 

[Tefal]

i would only sell to someone i know. luckily i know someone who buys and sells on the black market. they also make gold jewelry too. i would sell at a good price so it's a win/win for both. £2 million gold for £1.5 million.

you dont think the tax man might not question such a vast discrepancy in everyones books there

 

[Psycho Sonny]

you dont think the tax man might not question such a vast discrepancy in everyones books there

A common question asked by investors is, ‘do I have to pay VAT on bullion?’ The good news is you don’t have to pay VAT on gold investment bullion. This includes all gold bullion investment bars and coins purchased in the UK and EU, meaning all gold bullion is completely VAT free. The bad news is, unlike gold bullion, VAT is payable at 20% on silver bullion bars and coins. Perhaps because investment gold is now exempt, there is a misconception that investors believe other precious metals such as silver, platinum and palladium are VAT free.

Gold only attracts CGT. Also do you know what the black market is? People trade on the black market to evade tax altogether so the tax man wouldn't see any of it as it's "off the books".

Like I said before you wouldn't shift it all in 1 go. Sell a brick every 6 months or so.

 

[Tefal]

A common question asked by investors is, ‘do I have to pay VAT on bullion?’ The good news is you don’t have to pay VAT on gold investment bullion. This includes all gold bullion investment bars and coins purchased in the UK and EU, meaning all gold bullion is completely VAT free. The bad news is, unlike gold bullion, VAT is payable at 20% on silver bullion bars and coins. Perhaps because investment gold is now exempt, there is a misconception that investors believe other precious metals such as silver, platinum and palladium are VAT free.

Gold only attracts CGT. Also do you know what the black market is? People trade on the black market to evade tax altogether so the tax man wouldn't see any of it as it's "off the books".

Like I said before you wouldn't shift it all in 1 go. Sell a brick every 6 months or so.

Im not talking about vat.

Imtalking about 1.5 million of gold appearing in his vusines.



Yes i know what the black market is.

Do you know what money laundering is? People go to far more effort to PAY thier taxes than to avoid them.

1.5million in cash is going to be worth more as loft insulation to most people

 

[Psycho Sonny]

Im not talking about vat.

Imtalking about 1.5 million of gold appearing in his vusines.



Yes i know what the black market is.

Do you know what money laundering is? People go to far more effort to PAY thier taxes than to avoid them.

1.5million in cash is going to be worth more as loft insulation to most people

it wouldn't appear in his business though. it would be melted down and he would make jewelry out of it. he would then place it in his cabinets alongside all the other jewelry. he would then every week take his cash sales and make half of them disappear. as i said before I would only sell 1 brick every 6 months or so. i wouldn't flood the market, first of all he wouldn't have the readies to pay for it and i wouldn't have the capability to spend £1.5 million in cash or keep it safe.

£1.5 million spread over 30 years is £50K a year. I reckon I could spend that quite easy cash in hand. Prada sunglasses, new phone every 6 months, £3000 handbag for the wife every 6 months, pay a builder cash in hand to do a loft conversion one year then an extension/conservatory the next. then i can sell my house for a lot more money (as I've added value to it) turning it into white money then buy a bigger house, which i can then do another loft conversion or extension/conservatory, etc and rinse and repeat. 4 holidays abroad a year, etc, etc.

selling 1 brick every 6 months and keeping the bricks in a safe place would easily go under the radar.