Gold Coin Question?

ANDARIAL

ANDARIAL

ANDARIAL

Soldato
Joined
19 Oct 2002
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Woolyback Country
Was having a chat with a guy at out local village fete yesterday and topic shifted onto gold coins
Is this a `good` idea?
He was saying buying a few coins every now and again as an investment to give to his family after he died was a good idea( no inheritance tax) was the jist of what i got from the conversation ...well after a few beers that is what it sounded like :D
 
It's a good idea if you think the value of gold is going to go up, keep in mind it doesn't necessarily have to be coins, you could get bullion bars.
 
Having some basic gold jewelry is a good idea if you are going somewhere which might turn dodgy. You can say to someone, "Get me to the border / airport / whatever and I'll give you this." If you offer a coin they may think you have more.
 
Quartz said:
Having some basic gold jewelry is a good idea if you are going somewhere which might turn dodgy. You can say to someone, "Get me to the border / airport / whatever and I'll give you this." If you offer a coin they may think you have more.
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lol yeah might come in handy
Guy piqued my interest,was wondering if it was feasible.He seemed keen on the idea that his family could sell the coins after his death,to avoid inheritance tax to a certain amount.
maybe too much beer? :D
 
Does capital gains tax still apply? Also only relevant if you are above the threshold of inheritance tax. My dad has a few goal sovereigns (probably a load knowing him).
 
A mate of mine does this.

I guess if they get nicked you've got an issue.

I can't see the price of gold going down enough for it to ever be a risk, sure prices fluctuate a bit, but less face it people have been killing each other for thousands of years over the stuff, that isn't going to change.

If the world does go to **** it'll still be valuable whilst your money in the bank is just numbers on a computer.

I can see the benefits if I'm honest.
 
chroniclard said:
Does capital gains tax still apply? Also only relevant if you are above the threshold of inheritance tax. My dad has a few goal sovereigns (probably a load knowing him).
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google says it doesn't if your a uk resident and it's a UK gold coin
apparently it's because they are considered legal tender with a face value of £100 but they have like £1300+ worth of gold in them at current prices.

seems you only get taxed the gold coins face value
 
This is all assuming you have an estate that will incur IHT. The problem with gold is that it just sits there. It doesn’t earn any income. That’s fine if you’re about to croak, but if you’re not you likely want some income.
 
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