sixgun

Gold and silver rose in all currencies - it rose in dollar terms on a day the Dollar Index rose. So both gold and the dollar rose today.
The BoE and GBP are insignificant with respect to the gold price.
Markets digested what was said following FOMC yesterday - that the Fed was only reducing the minimum amount of buying it would do in the markets, which in reality is meaningless - it is a pathetic gesture. The $trillions of reverse repo and the upper limit of its market intervention was not being tampered with. The Fed will continue hosing liquidity into the system. All the taper talk was as thinking people had long realised, just empty words. The Fed PUT continues. So we see another All Time High in the US equity markets. 
The Let's Go Brandon administration has been talking about capital gains taxes on unrealised gains. As a result there has been LARGE movements of funds into gold in the US. Silver is always a favourite State side. We know Turkey has been on the buy for gold and silver. Indeed there has been significant sovereign sized demand in the physical markets. 
End result is gold and silver are up - there is capping going on ahead of Non Farm Payroll tomorrow. There may well be the obligatory gyrations around that announcement but a push up in price and through the $1800 barrier is highly likely.

We have gone back and forth over the argument of bringing silver into the country  - funnily enough i haven't seen exactly what i have posted above put forwards before - that is the rule that you don't need to declare less than £10 000 in cash.
The British Government created the £2 coins. These round pieces of metal are £2 coins because they have the Queen's head on and are marked up by the authorities as £2. That is what they are, they are £2 coins. They happen to be made of silver but legally they are £2 coins.
A green monster box has 500 x £2 coins. They are legal tender - they are money - they are cash. They don't become something else because the intrinsic value of the metal is worth more or less than £2.
They are cash and 4999 of them is less than £10 000 in cash - so according to HMRC rules they don't need to be declared.
If they were silver bars (not coin bars) then they would be dealt with as silver. These are coins and under the UK Coinage Act 1971, it is illegal to melt any UK coin produced after the 16th of May 1969, so these £2 coins are coins and it is illegal to use them as anything else (i.e. melt them down for their metal content).

We know what would happen - they would not apply their own rules. They would say that is 4999 ounces of silver. It is like the £100 coin and the petrol case. In the end the guy was vindicated. If the authorities want to make £100 coins then that is their business. If the authorities made 2 oz rounds (not coins) we know they would not be able to sell them for £100, well not until the price of silver went to £50 an ounce. So they decide to run with a gimmick to make some 'free money' - the £100 for £100 gimmick. It is simply an exchange of legal tender for legal tender, fair enough if it is legal tender. They don't like it when they have the very rules they create interpreted according to their own rules.
The Britannia is a £2 coin. It's nothing else - it would be illegal to use it for its silver content - in reality it might as well be made of silver plated brass b/c it is illegal to use the silver in it. 
HM Government laws say it is legal tender. The Royal Mint marks them up as £2 coins. HMRC rules say coins are cash and you don't have to declare less than £10 000. They made the rules. There may be a stated case somewhere but if it ran according to the law you can bet it will be buried very deep. If this were taken to court the judgement cannot be other than you can bring in less than £10,000 in cash without declaring it and as the 1 oz silver Britannia is legal tender with a face value of £2 that means you can bring in 4999 Britannias.

https://www.tax.service.gov.uk/check-tax-on-goods-you-bring-into-the-uk/goods-brought-into-great-britain-iom

Well if you look at this HMRC webpage which deals with cash https://www.gov.uk/bringing-cash-into-uk
This defines cash as:
A coin is legal tender. Legal tender - notes and coins are cash.
So if you have less than £10 000 in coins you don't have to declare it.
A Britannia has a legal tender value of £2 - so that would mean if you had 4999 Britannias you would not have to declare this - that's 10 monster boxes (minus one coin).
That is what it says. If they are calling Britannias legal tender, which they are and they put £2 on the coin, then these are £2 coins, how else is a person supposed to view them? Making out they were something else might well be a crime. This is simply applying their rules.

https://www.tax.service.gov.uk/check-tax-on-goods-you-bring-into-the-uk/goods-brought-into-great-britain-iom

From a personal point of view i would stash the silver if i had a safe place and further silver i would buy on Kinesis. i say Kinesis b/c i know the system and the people. Buying and selling and moving silver across borders with premiums and potential taxes gets messy. Potentially you might end up thinking was it worth it? You should discover what the lie of the land is where you go to. There may be coins / bars which are better to hold, there may be no private market like in the UK / Europe. You might potentially get stung if you needed to sell. So unless it looks good when you have put your feelers out wherever it is you end up, i would use a system like Kinesis. There will shortly be a EUR VISA card coming out with which you can spend you bullion - not sure if it will work where you are headed but if you can it means the bullion becomes accessible and much more liquid. You can forget the borders with a VISA card on your phone or in your pocket.

Another beast - the beastly thing here is the package was left on the front step. 😡
 

From a personal point of view i would stash the silver if i had a safe place and further silver i would buy on Kinesis. i say Kinesis b/c i know the system and the people. Buying and selling and moving silver across borders with premiums and potential taxes gets messy. Potentially you might end up thinking was it worth it? You should discover what the lie of the land is where you go to. There may be coins / bars which are better to hold, there may be no private market like in the UK / Europe. You might potentially get stung if you needed to sell. So unless it looks good when you have put your feelers out wherever it is you end up, i would use a system like Kinesis. There will shortly be a EUR VISA card coming out with which you can spend you bullion - not sure if it will work where you are headed but if you can it means the bullion becomes accessible and much more liquid. You can forget the borders with a VISA card on your phone or in your pocket.

You need to address the questions of CollectForFun.
If you aren't going to be out of the UK forever, then do you think you would want to sell the silver whilst you are away? If you imagine you would like to hang onto the silver is there anywhere you could keep it, store it?
Do you imagine you will be visiting the UK whilst you are living overseas?
You are on the Silver Forum - we are here b/c we believe it is a wise thing to buy precious metal now and going forwards.
If you think you would like to continue buying silver whilst in Serbia or wherever i would open an account with something like Kinesis where you can invest in physical gold and silver but not have the problems of borders and the like. Additionally you can easily sell the silver.
Do you actually think you will be effected by CGT?
A lot of people talk about it on the forum. Not sure if anyone is effected by it.

A beast arrived today.

Are you a woman?

Dave Russell, our host today, welcomes Amir Adnani, CEO of GoldMining Inc. He joins us to talk about the supply-side factors affecting the gold prices, The Case for Gold, and the Uranium Squeeze, as well as why he is bullish on both yellow metals.

Watch the full interview to find out more.

Watch the Video to Learn More

 
 




Buy gold coins and bars and store them in the safest vaults in Switzerland, London or Singapore with GoldCore.


Learn why Switzerland remains a safe-haven jurisdiction for owning precious metals. Access Our Most Popular Guide, the Essential Guide to Storing Gold in Switzerland here

Receive Our Award Winning Market Updates In Your Inbox - Sign Up Here

A corrective wave is a retracement in price - up or down.

A corrective wave is a retracement in price - up or down.

A corrective wave is a retracement in price - up or down.