LawrenceChard

5 hours ago, jsupstarz said:

What mint is this 1 oz. SILVER BUFFALO from ? Star with "R" inside. Got from dealer.

What MINT IS THIS FROM ??

I don't know, but...

Do you know it is not a coin?

It is what is commonly called a "round", usually made by anyone with a factory or workshop, to sell instead of US silver eagles becaue they are usually cheaper, to produce, source, and (usually) sell.

The Indian head side looks to me like it was made in China, in which case, do you know whether there is any silver in it?

Why don't you ask the dealer you got it from.

IF YOU DON'T MIND ME SAYING IT IS BETTER NOT TO SHOUT!

😎

5 hours ago, Bratnia said:

Some years back when HMRC outsourced investigations I was investigated. Seemingly purely at random, but where it was hell. I suspect they were under remit to get x% into court as part of that contract and the questions/means employed were horrendous. I'd receive a letter stating a reply must be made with two weeks of the letter date, but where the letter date was more than a week already out of date (postmark more accurately reflected the lag between postage and delivery). Repeatedly had to stop planned days activities to dig around to find and return the information they requested, such as documents/certificates from years ago that fortunately I had rather than having to request. After many months it all came to a end, no polite thank you for your time/efforts, just a notice to say that the investigation had completed successfully. Anyone going through such a experience will likely be a little paranoid. More so if they ended up in Court through not having responded within the demanded timescales. 

5 hours ago, Bigmarc said:

I have had many dealings with them and they seem to always lead with a threat. It's not a nice feeling I agree but once you keep an open dialogue they seem to be happy-ish.

 

5 hours ago, Bratnia said:

Recently had a over-payment demand, as you say opening with threats. Paid it instantly via direct debit/phone, after a query - that involved two 40 minute waits on their phone system queue, the first attempt ending in a simple disconnect. I find the 'abuse of our staff will not be tolerated' repeated message whilst waiting and threatening opening letters to be inconsiderate giving their common leaving you waiting for so long system and that most such as myself might be courteous and make payments in a timely manner. Opening with threats or being inconsiderate such as keeping you waiting for 1.5 hours is IMO only inclined to incite abuse/rudeness in return.

Some of the comments I made in my previous post in this topic are relevant here, so I repeat them (I know, you can say that again!):

Having said that, I have had many interactions with HMRC, police, and others which have been extremely unsatisfactory. It can be very time consuming to defend oneself, and even more so when you know the other party is wrong, incompetent, dishonest, malicious, etc. On a number of occasions, I should have made formal complaints at or after the time, but that requires even more time and effort; it usually ends up that I find better things to do with my time.

With HMRC, I take the view that I / we over-perform in our systems, and  efforts to comply with AML and reporting, so if we ever get an investigation, I will be ready to argue with them to the ends of the earth.

When we have any lengthy meeting with our accountant, she tells me no end of horror stories where HMTC makes mistakes, tell lies, breach their own rules and codes. She ensures she puts any of her evidence and complaints in writing. If you don't have a feisty accountant, the average member of the public probably gets screwed over most of the time.

If HMRC are so incompetent, it is probably because we have incompetent and corrupt politician and governments.

Apart from that, I do like to stay positive!

😎

5 hours ago, Bratnia said:

All part of stopping evaders. Which is fine, everyone paying taxes as they should ... until you have the likes of Roy Jenkings (Labour Chancellor) who in 1968 decided a fair tax should be a 130% retrospective tax rate. Those were the days. Where the Beatles were singing 'Taxman', "19 for you, 1 for me" in reflection of their 95% taxation rates. Very much looks like we're returning to those 'good old days', but beforehand the groundwork has to be laid to ensure 'evaders' can't evade such confiscations.

At the time of "Taxman", top rate income tax was 83%, and there was a 15% unearned income surcharge, so the top rate was 98%.

Thinking about it used to disincentive me, and it still does!

😎

5 hours ago, ArgentSmith said:

To me it screams Guilty until proven innocent... bit tyrannical for my liking, what's happened to us?

Are you sure you are not a paranoid conspiracy theorist?

Having said that, I have had many interactions with HMRC, police, and others which have been extremely unsatisfactory. It can be very time consuming to defend oneself, and even more so when you know the other party is wrong, incompetent, dishonest, malicious, etc. On a number of occasions, I should have made formal complaints at or after the time, but that requires even more time and effort; it usually ends up that I find better things to do with my time.

With HMRC, I take the view that I / we over-perform in our systems, and  efforts to comply with AML and reporting, so if we ever get an investigation, I will be ready to argue with them to the ends of the earth.

When we have any lengthy meeting with our accountant, she tells me no end of horror stories where HMTC makes mistakes, tell lies, breach their own rules and codes. She ensures she puts any of her evidence and complaints in writing. If you don't have a feisty accountant, the average member of the public probably gets screwed over most of the time.

If HMRC are so incompetent, it is probably because we have incompetent and corrupt politician and governments.

Apart from that, I do like to stay positive!

😎

On 20/02/2023 at 22:40, Bratnia said:

Was just thinking the exact same. If the dealer didn't keep a record of passport/driving licence data for that, then any investigations that HMRC might make against that dealer could see them come down heavily upon that dealership on the grounds of not having undertaken Money Laundering Due Diligence. So in turn that pensioner could be visited by HMRC ...

"you're repeatedly selling gold, how much have you left, where was it sourced from and how did you fund paying for it".

"I bought it over many years, haven't kept the records or receipts"

"OK we're going to confiscate it as we believe it to the proceeds of illicit activities"

Fundamentally to me that shouts that collectors/stackers should keep their own good records, down to the individual coin level, identify each coin individually (numbered plastic sleeve with a unique reference number) and records of the source ... where/when/how much was paid. So if say in years to come gold coin sales are subject to capital gains tax you can precisely calculate that as/when each coin is sold.

Keeping invoices and records would always be sensible for a number of reasons.

I doubt anyone wold need to keep such an extremely detailed record as you suggest, but it would be unlikely to cause any harm.

I doubt that authorities could or would seek to confiscate the gold or the proceeds unless there was other good reason to suspect it had been acquired illegally.

I know that quite a few people who "stack" can be a little paranoid about some things, including the government, taxmen, or more. I think most of it is overdone.

😎

10 minutes ago, Bratnia said:

Is it the same for sellers? If say a retiree had accumulated 240 one ounce gold Britannia's during their working years, and then was selling one/month to supplement their state pension income, £1500/month, £18,000/year to the same dealer, would that dealer be obligated to report that to HMRC?

No, but...

We would ask for and expect to get some more information, to satisfy ourselves that the source was legitimate, otherwise we might fall foul of anti-money laundering regulations.

😎

1 hour ago, AaaGee said:

A mate sent me these pix a while ago and prompted by another thread on here i thought id ask the question. Its his mums who spotted it on a TV ad and purchased it.

Anything special?

 

No!

9 hours ago, KleinerVogel said:

Is the 10k reporting limit for all time sales or is it per year?

It is per 12 months rolling period.

2 hours ago, daca said:

per year

1 hour ago, Bigmarc said:

What if you weigh in more than 10k?

1 hour ago, scotwasp said:

Never thought of that, I think that’s one for @LawrenceChard to answer 

https://taxfreegold.co.uk/customsandexciseidentification.html

Customs & Excise Notification
We are obliged to report to HM Customs & Excise the first purchase of investment gold by any individual exceeding £5000, or any purchase which takes the individual's purchases within any 12 months period over £10,000.
Why?
We are frequently asked, about 20 times per day, why we have to take ID from purchasers. The simple answer is that it is a legal requirement, and we have no choice but to comply if we wish to carry on our business of dealing in investment gold. The only reason given to us is that it is an anti money laundering measure.
What Happens to the Information?
We retain customer identification as required, but do not divulge it to any third party, except to HM Customs & Excise, as necessary. We do not even use it for our own mailing purposes unless requested by customers, and then only rarely.
What Do Customs Do With the Data?
We do not know.
Presumably they check for known or suspected money launderers, and we guess this includes drug smugglers.

It should be easier to find on our Chards website.

😎
 

2 hours ago, Stu said:

Was it not Sid? 

You are right.

Ask Sam was a few other things.

😎

3 hours ago, MickB said:

You don't sell fat juicy steaks though

No, we stick to what we are good at!

😎

5 hours ago, KleinerVogel said:

Just saying hi, been browsing these forums for about a year as a non-participant, finally got to making an account today.

 

Not sure I'm going to be trading anything yet, just here for chat about gold and silver for now. But may get into the buying side of things in the future, who knows. Mostly buy the odd bit of silver now and again, got into stacking because I've always loved collecting coins as a kid and it sort of carried on into adulthood.

 

Cheers.

A little bird told me you had been stalking around.

This might be useful for you:

https://www.chards.co.uk/guides/advice-guide-for-uk-bullion-investors/1041

😎

3 hours ago, DaveR said:

Hi.

I'm new to buying silver and need some advice please.

Does anyone know if 1kg bars bearing the mark SAM are any good and worth buying? I've found out that they are from Egypt, but that's about all.

Any guidance would be greatly appreciated.

Thanks - Dave.

Ask Sam.

He talked me into buying British Gas shares!

😎

2 hours ago, MickB said:

I'm usually walking over to Costco whilst at work and always check their gold prices but these prices don't make any sense. Is the sovereign price now subsidising the Britannia's new price? I took a picture on Friday, which showed the lower sovereign price, which they had on display yesterday. They're never the cheapest bullion dealer and I'm not sure if their prices are consistent between their stores.

Wow!

People think they are cheap, along with Argos, Amazon, and ebay, but they are not!

https://www.chards.co.uk/2023-king-charles-iii-gold-britannia-bullion-one-ounce-coin/17625

Price Comparison Against Other UK Bullion Dealers - Updated at 20-Feb-2023 08:00

So their yesterday's price was only £30 more than our current price (including postage), and today's price is £100 more!

And @ChardsCoinandBullionDealer do not charge an annual membership fee!

😎

1 hour ago, refero said:

While waiting for my memorial poof to get home (.......)

Really?

😎

6 hours ago, SidS said:

Hopefully there'll be a memorial-coronation sovereign mule.

Mule?

Here is our visualisation:

Which looks quite nice, but the reverse might not be to everybody's taste:

😎

12 minutes ago, carrigher82 said:

Please, I get enough grief from the wife. 

Only trying to help!

😎

12 hours ago, Happypanda88 said:

I don't know what all the fuss is about.

All those american coins have a 180 degrees error in rotation and no one gets over excited about them.🙄

Ssshh! The Americans haven't realised yet!

But on a serious note, that is called "coin alignment", we use "medal alignment"

😎

6 minutes ago, AaaGee said:

@LawrenceChard ive just signed up to your email service. I assume I'll be notified when these Coronation sovereigns are released?

I make the same assumption!

😎

5 hours ago, jason94151 said:

I was wondering what people think about the 2 kilo proof version compare to the 1 kilo. Im not exactly sure how big they are in person since i only seen 1 kilo coins from videos.

The two kilo coins has a diameter of 150 mm, compared with 100 mm for the one kilo:

https://www.chards.co.uk/2021-queens-beasts-one-kilo-silver-bullion-coin/15028

I don't think I have seen the two kilo bullion version, but have seen a number of other two kilo UK RM silver coins, all proofs so far:

https://www.chards.co.uk/products?search=two+kilo+silver

I / we usually get one or two of the Australian 10 kilo silver bullion coins from Perth Mint every year:

https://www.chards.co.uk/products?search=ten+kilo+silver

We usually ask for about 10 pieces, and get allocated one or two.

😎

2 hours ago, TheShinyStuff said:

I'm surprised, and sorry, that I sounded serious. That was not my intention. 

Only one of us owns a successful bullion & numismatic business, so I bow to your infinitely greater acumen as regards (free) (or not!) postage.

If you are ever in Glasgow I'll buy you an irn-bru to apologise!

Apparently I always look serious when telling a humorous story, which is a give-away.

Greater acumen?: I might be wrong.

Glasgow?: I mentioned it here on Saturday:

There is no need to apologies, I was not offended, but am always keen to explain why we have any particular policy.

Irn-bru? Too much sugar, I think I would prefer a half pint of heavy!

😎

3 hours ago, AaaGee said:

Maybe you should have a "free delivery" option on your website for TSF members who think they are getting hard done by. The price of the coin will go up but hey, the delivery is free lol.

Maybe its a psychological thing.

I have thought about it!

😎

7 hours ago, Happypanda88 said:

 

Could it be that you're always the last to buy a round ?

Hence, the label Chard is so cheap !  😎

It's probably because I am the last person to go into a pub!

😎

3 hours ago, TheShinyStuff said:

I'm sorry to see you taking my comment seriously!

I usually take "free postage" comments on TSF as humorous, but you sounded serious!

😎

35 minutes ago, sovereignsteve said:

There is also one with a 90 degree rotation of Britannia, or is it 270 degrees? much rarer I'm told😉

No, 360° is possibly the rarest!

😎

2 hours ago, SilverJacks said:

Always been suspicious of the 2014 Britannia mint error coins. Being the year of the horse and making a mule coin, just struck me as a deliberate mistake, possibly...

Someone got a kick out of it!

😎