Buying 1oz gold - coin or bar?

[dicker]

On one of @LawrenceChardsites the is an article on this from some time ago.  
 

I think this said something along the lines of “look at buying round gold bars” ie cons.  Please forgive me if that is wrong!

But essentially if you want weight, go for the cheapest Sovs or Brits. 
 

Best

Dicker

[LawrenceChard]

8 minutes ago, dicker said:

On one of @LawrenceChardsites the is an article on this from some time ago.  
 

I think this said something along the lines of “look at buying round gold bars” ie cons.  Please forgive me if that is wrong!

But essentially if you want weight, go for the cheapest Sovs or Brits. 
 

Best

Dicker

Almost exactly right, although I think I said "coins" as opposed to "cons" (they come from ebay). 🙂

[dicker]

I am incredibly sorry, as you will appreciate, not intended.  
 

Best

Dicker

Edited July 12, 2021 by dicker

[LawrenceChard]

On 06/07/2021 at 19:20, Ole76 said:

Ahh, so bars are not exempt from CGT?

Correct!

Only "sterling" (money including coins) is exempt from CGT in the UK, as far as bullion investment is concerned.

...and even if you are not bothered about CGT, any potential buyer might be, so gold sovereigns, Britannias or similar are a no-extra-cost alternative to bars, with a built in bonus potential.

[LawrenceChard]

On 06/07/2021 at 19:24, Ole76 said:

Yeah, I've thought that too but just liked the idea of having an actual (but small) gold bar
Shall I just keep buying new 2021 sov's or are older, second hand ones from say Bullion by Post (there 'best value coins') which are only a few Pounds less worth going for instead?

If you heed the advice I/we usually give, https://www.chards.co.uk/blog/precious-metals-information-and-advice-for-newbies/1008, then pay the lowest percentage premium within reason over spot.

There is not much difference in premium between buying new gold Britannias or sovereigns, or secondary market ones, although secondary market ones will normally cost slightly less, they are often in more demand, so are not always quite as readily available.

If you only ever buy from the first 2 or 3 results on Google, you will probably also pay a higher premium, because these are usually sponsored adverts, and the advertiser if paying Google to show you their (more expensive) results first. This would usually be both of BbP's sites, and the Royal Mint. You will usually find @ChardsCoinandBullionDealer's premiums lower for most popular bullion items.

I am biased, but it happens to be the truth. 🙂

[LawrenceChard]

On 06/07/2021 at 23:03, TringSilver said:

I agree with @Touvex

Also BBP are about the most expensive dealer from my experience so I personally don't use them anymore, although I think they do get most newbies as they do have a good website. But shop around. There is the price comparison tool on the forum for members 👍

In defence of BbP, there are quite of lot of more expensive dealers and coin marketing companies around, including some who use dodgy "bait and switch" tactics to lure you into buying "added value" (for them) products.

[LawrenceChard]

On 10/07/2021 at 22:27, muneeb said:

I’m looking to make profit or quick flips if possible, any advice ?

Yes:

1) Get a crystal ball.

2) Guess when the next Royal Mint "winner" is going to be issued.

3) Log onto their site about 8.30 every morning so that you don't miss it.

4) Hope you get in the queue ahead of 10,000 other TSF members, ebay resellers, and others wanting to do the same thing.

5) Decide quickly which ones will be the flippable winners.

6) Get them in your basket and pay as fast as possible.

7) Hope you picked the right "winners".

😎 You might have already missed the boat, as the Una series was the first and the best. All subsequent issues have higher prices, higher issue limits, and probably more quality control problems.

🙂

 

😎 was supposed to be "8)", but the TSF software insisted in changing it multiple times, possibly including this edit, when I re-save it. Grrr!

Edited July 12, 2021 by LawrenceChard
trying to undo some TSF auto complete glitch!

[LawrenceChard]

42 minutes ago, dicker said:

I am incredibly sorry, as you will appreciate, not intended.  
 

Best

Dicker

No need to apologise. It looked like an obvious typo, and made me smile.