Howdy, newbie here, tips welcome

[oohshiny]

Hi there,

I'm a newbie to this forum and to commodity investment in general.

I'm looking to start a collection of precious metals and I've been wondering around the internet looking for a place to start.

I've read that silver is cheap, but rarer than gold, premiums are always higher on bullion over bars, gold is VAT free (UK), some locally minted coinage is CGT free (UK) and lastly, diamonds are bad, avoid or buy only for the value of the metal they come embedded in.

So, with this in mind and a few other things, I'm thinking of dropping a bit of cash a month on either one or two gold sovereigns, or a tub of 20 to 25 1oz silver coins. Maybe once every so often I'll splash out and pick up a 1oz gold coin (or some equally shiny expensive metal). Given I have no coin collecting experience (yet), I'll just stick to bullion quality coins for now.

Does it sound like I'm on the right track? At the moment I'm a little bit torn over whether I should really be thinking about bars instead of bullion coin given the lower premiums. Can I command any kind of premium for bullion coin in the future or would they only be worth the value of their metal?

Sorry for the long post, cheers.

oohshiny

[HelpingHands]

Hello and welcome.

As silver bought from the UK attracts VAT most of us buy from Europe (Germany).  Coins bought from there have a different arrangement with VAT but that doesn't apply to bars.

Have a look at https://www.silver-to-go.com/en/silver-coins/

They have a UK bank account so you can pay in £s.

[Cointreau]

 

[ChrisSilver]

Welcome to the forum.

In terms of collecting silver I would recommend the following;

Perth mint kookaburra coin,

Perth mint koala

1oz/30g Chinese Panda 

These coins (especially the Panda despite its huge mintages) seem to increase in premium slightly over the years. And if planning on selling on the forum in the future, should be easy to sell. 

All of the above come in mint capsules and the design changes each year.

in terms of collecting gold, CoinInvest have some 1/10th Oz Somalian elephant coins, I think this is a good purchase, I bought one yesterday, premiums aren't high compared to other 1/10th Oz coins, and although the premium is higher when comparing against 1oz coins, the fact that they are far more affordable means you shouldn't have any trouble selling, and if you sell via the forum you will recoupe your premium for sure.

Because bars attract VAT in the UK, it's cheaper to just buy 10oz and 1kg coins from a dealer in Germany, STG are one of the best, they are a forum sponsor.

Also if you want low price gold bullion then forum sponsor Arshimo2012 has some sovereigns in sometimes but you have to be quick to snap them up, some of his sale threads are sold within 45seconds.

[Agpanda]

Hi, and welcome

[Oldun]

Hello and welcome. You can't go wrong with sovs.

[KevinG]

Welcome.

[MCJ]

Hi and welcome 

[ShadowStack]

Hi and wlcome

[oohshiny]

Thanks for the welcome messages and tips. Purchasing silver coins from Germany sounds like a good idea if they have different VAT rules for that so I'll definately look into that, VAT on silver is a bit of a put-off as it stands so the cheaper I can make it the better.

I'll certainly look into those Gold sovereigns and 1/10th oz coins too.

[Uwink]

Hi and welcome. 

[Stu]

Hi & Welcome

[Pipers]

Hi and welcome, Neither Gold or Silver are rare, silver is not rarer than Gold and is seen rightly or wrongly (wrongly in my eyes) more as a commodity these days.  If you are investing for the long term (10-20 years) then yes invest in both Gold and Silver. You are at least starting at a good time when Gold is at $1065 and Silver is $13.80, take your time buy silver from Germany vat free and when buying Gold look at the buy back price.  

There is a lot of information on this site for you to use.  Hope this helps.    

[oohshiny]

Thanks for the additional welcomes

Sounds like good advice Pipers. I'll be making my first purchases soon, so I'll keep the spending light and spread evenly across both metals until I'm clued up. This site and fellow members have already steered me in the right direction for buying silver at reduced VAT pricing so it's already proving to be great

Cheers!