How much to invest

[shortstack]

Hi all,

As a newbie looking to invest in gold coin rather than join a new company pension scheme (prefer liquid assets) what sort of a percentage of my salary should i invest as a general rule?

Im 46 years old with no mortgage and modest savings and I'm just looking to accumulate something as a fall back for when i reach retirement

 

Cheers

[Goldmick]

Hi and welcome to the forum. I can't say what or how much you should buy cos don't know your outgoings but I buy one sovereign a month and a bit of silver 

[Thelonerangershorse]

As always, invest only what you can comfortably afford. Pay all you bills, and keep a chunk of cash for emergencies, then see what you have left at the end of each month. Personally, my strategy is to have a defined figure for my bank balance, If it gets too high, I buy some metal, if it's low I don't.

[shortstack]

Hi Goldmick, thanks for the response

A sovereign would be manageable i feel, could you recommend a place you buy from I've checked out Bullion by Post and similar companies and their premiums on buying the single unit are understandably high opposed to buying baulk

 

cheers

[shortstack]

Thanks Lonerangershor

I think i tend to overdo the 'save for an emergency situation' so i may use 50% of that pot for investment which i can keep to a similar manageable amount per month 

[Thelonerangershorse]

There's a list of dealers on here somewhere and you can compare prices but If i just wanted 1 sovereign I'd probably just go straight to Atkinsons

[Goldmick]

6 minutes ago, shortstack said:

Hi Goldmick, thanks for the response

A sovereign would be manageable i feel, could you recommend a place you buy from I've checked out Bullion by Post and similar companies and their premiums on buying the single unit are understandably high opposed to buying baulk

 

cheers

Hi yes Atkinson is a good place to buy I've bought from them a fair bit. I don't myself buy from e bay because I prefer to buy on here. Ps sovereign.s are a good coin to buy 

 

[shortstack]

Just now, Goldmick said:

Hi yes Atkinson is a good place to buy I've bought from them a fair bit. I don't myself buy from e bay because I prefer to buy on here. Ps sovereign.s are a good coin to buy 

 

 cheers Goldmick i will look them up

eBay appears such a gold mine especially as a newbie i will use it for information purposes but would buy from trusted people first

[BackyardBullion]

14 minutes ago, shortstack said:

Hi Goldmick, thanks for the response

A sovereign would be manageable i feel, could you recommend a place you buy from I've checked out Bullion by Post and similar companies and their premiums on buying the single unit are understandably high opposed to buying baulk

 

cheers

Hatton garden metals would also be a good choice.

[shortstack]

5 minutes ago, BackyardBullion said:

Hatton garden metals would also be a good choice.

Thank you BackyardBullion for the heads up 

[sixgun]

Hatton Garden Metals has usually been the most consistently low price for basic sovereigns. i notice they only have new sovereigns and they are selling at spot +6%. They do sell basic pre-owned sovereigns for for 2 - 3%. There is postage to add in, so if you are only buying one coin this needs to be factored in. 

http://www.hattongardenmetals.com/buy/cid0/all-stock

http://www.atkinsonsbullion.com have tended to have higher prices but postage is included. They also offer itemised sovereigns but these are more expensive.

https://www.chards.co.uk/category/buy-gold-coins-and-bars-online/gold-sovereigns/bullion-sovereign-coins has deals on sovereigns.

Another dealer is  http://www.malcolmelliscoins.co.uk/gold-and-other-coins-for-sale.html i am not sure how up to date his website is, he is a smaller dealer.

i assume you are UK based. If you stick with UK gold coins you do not need to worry about tax when selling them. 

Coins are coming up on the silver forum selling pages. Ideally you need to be a premium member as you will then see the coins straight away. A half ounce gold Britannia sold tonight which had just been put up and if you aren't a premium member it was sold before you have a chance to see it. 

 

[reidpj]

Hi Shortstack

where in Somersetshire are you based?

[shortstack]

3 minutes ago, reidpj said:

Hi Shortstack

where in Somersetshire are you based?

hi reidpj I'm just outside Weston Super Mare

[shortstack]

22 minutes ago, sixgun said:

Hatton Garden Metals has usually been the most consistently low price for basic sovereigns. i notice they only have new sovereigns and they are selling at spot +6%. They do sell basic pre-owned sovereigns for for 2 - 3%. There is postage to add in, so if you are only buying one coin this needs to be factored in. 

http://www.hattongardenmetals.com/buy/cid0/all-stock

http://www.atkinsonsbullion.com have tended to have higher prices but postage is included. They also offer itemised sovereigns but these are more expensive.

https://www.chards.co.uk/category/buy-gold-coins-and-bars-online/gold-sovereigns/bullion-sovereign-coins has deals on sovereigns.

Another dealer is  http://www.malcolmelliscoins.co.uk/gold-and-other-coins-for-sale.html i am not sure how up to date his website is, he is a smaller dealer.

i assume you are UK based. If you stick with UK gold coins you do not need to worry about tax when selling them. 

Coins are coming up on the silver forum selling pages. Ideally you need to be a premium member as you will then see the coins straight away. A half ounce gold Britannia sold tonight which had just been put up and if you aren't a premium member it was sold before you have a chance to see it. 

 

sixgun thanks for all the good info

yes I'm uk based and had looked at Hatton Garden they only have a couple of coins in stock but i guess that changes daily

i wasn't aware of the premium privileges, i'll look into that 

thanks again 

[sixgun]

7 minutes ago, shortstack said:

yes I'm uk based and had looked at Hatton Garden they only have a couple of coins in stock but i guess that changes daily

Yes if you are looking for coins you need to look at these sites on a daily basis or more often. There is an extension for Chrome that monitors changes in webpages. i have this installed but i have not configured it so i can't say if it is any good.

https://chrome.google.com/webstore/detail/page-monitor/ogeebjpdeabhncjpfhgdibjajcajepgg?utm_source=chrome-app-launcher-info-dialog

[shortstack]

Just now, sixgun said:

Yes if you are looking for coins you need to look at these sites on a daily basis or more often. There is an extension for Chrome that monitors changes in webpages. i have this installed but i have not configured it so i can't say if it is any good.

https://chrome.google.com/webstore/detail/page-monitor/ogeebjpdeabhncjpfhgdibjajcajepgg?utm_source=chrome-app-launcher-info-dialog

thanks for the link I'm back in work tomorrow night for 4 nights so i can keep a good eye on things from now on 

[sovereignsteve]

will the real shortstack please stand up

[MancunianStacker]

Welcome! I’m an ex IFA and I’m now 100% in metals and property. When investing in stocks it’s more a case of invest only what you can afford to lose and a stock market crash 5 years prior to retirement can have a big affect on your end retirement date.

I feel gold is as safe as cash if not safer when you consider QE and inflation. If the BOE starts printing £s after Brexit who knows what an oz of gold will be in 20 years.

Bullion will track the gold price whereas special low montage proofs and highly sought after perfect graded coins should reduce any affect in gold price dips.

Here is a link which talks about having saved 4 x your salary by age 45 and then 15% of your earnings each year til age 67:

https://www.google.co.uk/amp/s/www.cnbc.com/amp/2017/09/11/how-much-you-should-have-saved-by-45.html

Bear in mind they are trying to sell you investments and earn 0.5% of your investment each year as a minimum management charge (this really adds up over the years).

Best of luck!

MS

[Pete]

Rather than buying PMs have you looked into a low cost SIPP ? You can get all your tax back at 20% or 40% if paying higher rate and if you are not paying any tax you can make 25% overnight almost on up to £2,880 every tax year.

[MancunianStacker]

These days I’m simply concerned with the return of my money rather than the return on my money. They need pension savers to keep pumping the stock markets up.

I’m predicting another financial crash mainly due to personal credit / borrowing very soon. For this reason I am out.

[shortstack]

Mancunian thank you.

I have learnt quickly the price above spot differentials compared to some big selling sites and actually purchased my first half sovereign today from someone on here so I'm very pleased 

[MancunianStacker]

35 minutes ago, shortstack said:

Mancunian thank you.

I have learnt quickly the price above spot differentials compared to some big selling sites and actually purchased my first half sovereign today from someone on here so I'm very pleased 

Great ? Some awesome deals on here. I just sold my first piece on here last week and got great feedback. Feedback can be given by buyer and seller. 

[shortstack]

Ah ok that's good well I'm sure I will get my first feedback and leave for the seller also I think it's the first of many purchases to come and luckily my seller has a fair few more to sell so I'm sure I'll be sending him more of my hard earned cash over the next few months 

[vand]

Only buy as much of any investment as you are comfortable holding and which your understanding allows. 

I would strongly urge NOT to give up on your pension completely. The tax relief alone means the that anything else needs to earn 60% just to get to the same level. Are you completely sure that gold or anything else can do that AND give you a worthwhile return on top? An that is before any employer contributions are taken into account.

[shortstack]

Hi vand thank you for your input

I have unfortunately dipped in and out of company pensions in the past and at 46 i don't feel a pension even with employer contributions would be a worthwhile venture

An ISA however is something I'm currently setting up with my bank and I just like the idea of gold, and possibly silver, as an investment i have somewhat control over (as in how much and often i invest)