buying gold

psd99

psd99

psd99

Soldato
Joined
7 Sep 2008
Posts
5,740
does anyone here ever thinking about buying a small amount of gold?

If so what's the best place to buy? it just wondering that's all.
 
psd99 said:
@gold bars in the safe
what's the advantage of doing this against investing money into gold as it were?
Click to expand...
Avoids paying a fee, depends on your insurance arrangements tho.
Some people give each other small values of gold as gifts, I think it's an Indian culture thing mainly.
It's also handy if the poop hit the fan, you have something usable.

billysielu said:
you need to be buying it when the price is low and selling it when the price is high..
Click to expand...
I realise this seems obvious to read, but it isn't obvious to most people buying gold for the first time.
It's common for people to think gold is like any other investment, but it isn't - you need to actively trade it to make money, if you buy and hold you're just maximising the fees you pay.
 
On a related note. Some of the companies selling gold now, are the same ones (albeit under different names) who were previously offering very low prices for "scrap" gold a few years ago.
 
billysielu said:
you need to be buying it when the price is low and selling it when the price is high
Click to expand...

or buy high sell higher

or short low, cover lower

billysielu said:
It's common for people to think gold is like any other investment, but it isn't - you need to actively trade it to make money, if you buy and hold you're just maximising the fees you pay.
Click to expand...

dubious, the vast majority of people who'd actively trade it will simply be incurring further costs and likely won't have an edge
 
psd99 said:
what#s the advantage of doing this against investing money into gold as it were?
Click to expand...
Physical gold remains physical gold, no matter what.
Investment in an ETF or whatever is at the whim (mercy?) of the world of finance and virtual digital numbers, based on fluctuating exchange rates and share prices, reliance on other parties, much higher risks and so on.

Read alla boutit:
https://www.forbes.com/sites/olivie...ch-is-the-better-investment-now/#651562bf2a0b

Then go buy yersel' a box o' Krugerrands and make Lethal Weapon jokes.
 
tek81 said:
On a related note. Some of the companies selling gold now, are the same ones (albeit under different names) who were previously offering very low prices for "scrap" gold a few years ago.
Click to expand...
Makes sense. After all, you need to be buying it when the price is low and selling it when the price is high.
 
I was looking into selling some of my bitcoin into something less risky/diversify a little and gold/silver was something I was looking into.
UK sovereign is CGT except and if you pay the annual subscription for someone to hold it in a certified safe, its VAT free (and fully insured).
 
When buying physical gold it’s usually a question of how much over spot (current price) you want to pay

The only place I know that sells gold at spot is UK Bullion in Sheffield (and as a result they never have anything)

As a result of the bitcoin thing Ive noticed the spread between spot and the buying price is narrowing. You could buy a brand new 1 ounz kangaroo on the royal mint bullion site for less than 10% over spot. That’s what I’d buy if I wanted some more

When buying gold if you want an easier time selling it I’d buy the most known coins such as sovereigns, kangaroos, kugerands, Britannia’s, pandas (in full ounz’s, half’s, 1/10’s and 1/20’s) and not random little gold bars or obscure coins. The detailing on them makes them pretty hard to copy/fake and easier to identify as genuine.

Also don’t tell people you have gold for obvious reasons
 
Last edited:
You must log in or register to reply here.
Back
Top Bottom