bmd24

14 hours ago, daca said:

Thank you for the mention @CollectForFun, however I strongly believe that I'm not the right person to give advice on specific items when it comes to buying gold. 

 

Here are my 2  cents:

I do not see  buying gold as an investment, but a preservation of wealth (at best a passive investment). 

Do not buy gold with money that you will need in 6 months.  Don't aspect to make a profit over night, buying and holding gold is long game (at least  3 years or more).

Know your exit strategy, this will determine what you'll buy.

Smaller pieces (coins/bars) are easier to sell on the secondary market (yes, there will be higher premiums when buying, but better chances on recouping on per to per deals).  This is valid for collector coins (if it says collector on the box stay away). This type of buying/selling will take longer time to achieve your final goal.

Larger bars/coins are easier to sell to bullion dealers, pay close to spot and sell close to spot  (I don't like pawnshops, so I stay away from them), this is will also be faster. Of course if you are able to buy fractional gold close to spot there is no downside on this.

Investment grade gold is VAT free in Romania (from 1g 999 bars or coins with finest starting from 900/1000 parts),  14k - 18k jewelry are not vat free. 

Romanian gold market (ref. bullion) is immature at best  and personally I haven't created my exit strategy for this market  due to specific personal circumstances (and also I do not expect to sell my gold in the next 15-20 years).

 

Thank you for the feedback, I know it is a preservation of wealth.

This days you can't find anything worth investing it/

The housing market is a joke with prices 30-40% more than normal, EURO or USD, I don't trust them anymore; so for my 20k E I think they will be best "stored" in gold. 

I hate paying the premium for coins, it's huge... so i think i will stick to 50g bars, now i am searching for the best dealers in Europe.

On 16/09/2022 at 00:38, stefffana said:

Hi, @bmd24, and welcome on forum!

 

For Romania, because the precious metals market is not yet very mature as in UK, the best choices to buy are:

1. Carat gold fully hallmarked in any shape, avoiding big stones. The best places to buy them are pawn shops (amanet), because are professionally tested and they will give you invoices. Keep all the invoices, will help you to sell them easier. Their premium is not very high. Do your researches carefully, buy only one, maximum two pieces in one buy, to not became a target for robbers. These jewellery pieces are very easy to sell on the private market.

2. If you want to buy gold, order them in small quantities from UK or european dealers. Do not be scared about shipping costs, your prices to pay will be way lower than buying from BCR or another romanian companies. My advice is to stay away from gold bars or big coins and to focus on fractional gold 1/10oz and 1/4oz. Even the premium is a little higher, are very easy to sell them on private market with a decent price.

 

Good luck and happy stacking, my friend!

Stefan.🤗

 

Thank you for your feedback

Hello guys,

I want to invest 20k € into gold, but i have this noob questions:

1. What should I buy (I am intrested also in which are easyer to sell) Ex 1 oz or 50 g or 100g, bars or coins etc.

2. Where should I buy from (I am from Romania)

3. From what I can see my only selling options are forums like this one or Gold dealers,  kind of a small market

4. Is it worth it to buy 14k, 18k if the price is good?

Thank you for your help!