First Timer

[bmd24]

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!

[James32]

@stefffana will offer some insight as he is familiar with Romania.

Welcome aboard. 

[LawrenceChard]

56 minutes ago, bmd24 said:

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!

Is there VAT in "investment gold" in Romania?

Forget 14k, 18k, it will not be VAT exempt.

Coins are generally easier and better to sell than bars.

One ounce or smaller coins better.

This is aimed at UK investors:

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

But might have some relevance to you.

😎

[stefffana]

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.🤗

 

Edited September 15, 2022 by stefffana

[stefffana]

25 minutes ago, LawrenceChard said:

Is there VAT in "investment gold" in Romania?

Forget 14k, 18k, it will not be VAT exempt.

Coins are generally easier and better to sell than bars.

One ounce or smaller coins better.

This is aimed at UK investors:

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

But might have some relevance to you.

😎

Your advice is the best one for UK, where the market is very mature and the transactions are mostly via reputable dealers.

In Romania is a little different. Even the quantity of gold per person is probably more than double than in UK, the transactions are mostly on private market.

 

Edited September 15, 2022 by stefffana

[LawrenceChard]

1 minute ago, stefffana said:

Your advice is the best one for UK, where the market is very mature and the transactions are mostly via reputable dealers.

In Romania is a little different. Even the quantity of gold per person is probably more than double than in UK, the transactions are mostly on privae market.

 

I'm sure it will be very different.

It is somewhere I have never been yet.

😎

[stefffana]

Just now, LawrenceChard said:

I'm sure it will be very different.

It is somewhere I have never been yet.

😎

Tell me when and I can be your chauffeur and guide.

You will be surprised: beautiful country having spectacular places to visit and a great history, friendly people, tasty food, good drinks, beautiful women...

 

[LawrenceChard]

3 minutes ago, stefffana said:

Tell me when and I can be your chauffeur and guide.

You will be surprised: beautiful country having spectacular places to visit and a great history, friendly people, tasty food, good drinks, beautiful women...

 

Now you're talking!

😎

[stefffana]

1 minute ago, LawrenceChard said:

Now you're talking!

😎

Yep.🤗

[Tn21]

1 hour ago, bmd24 said:

 

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

 

try and speak to Andrew Tate,

good luck and all the best

[LawrenceChard]

13 hours ago, bmd24 said:

First Timer

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!

 

12 hours ago, stefffana said:

Tell me when and I can be your chauffeur and guide.

You will be surprised: beautiful country having spectacular places to visit and a great history, friendly people, tasty food, good drinks, beautiful women...

 

For some reason, the combination of these two posts reminds me that I can still remember my

First Time

I can also remember my

First Timer

It was a stop watch!

😎

[Bigmarc]

13 hours ago, stefffana said:

Tell me when and I can be your chauffeur and guide.

You will be surprised: beautiful country having spectacular places to visit and a great history, friendly people, tasty food, good drinks, beautiful women...

 

I really liked Romania, surprising historic for a out of towner. I couldn't find anywhere for metals but loads of Dracula ornaments and little wooden dolls and what's with the TV channel of kids singing either in a field or by a Christmas tree depending on the year?

[stefffana]

Just now, Bigmarc said:

I really liked Romania, surprising historic for a out of towner. I couldn't find anywhere for metals but loads of Dracula ornaments and little wooden dolls and what's with the TV channel of kids singing either in a field or by a Christmas tree depending on the year?

 "but loads of Dracula ornaments and little wooden dolls" - commercial, not traditional...

 "TV channel of kids singing either in a field or by a Christmas tree depending on the year?" . .. I really don't know...🤔

Anyway, thank you! It is a beautiful country to visit.🤗

[Bigmarc]

49 minutes ago, stefffana said:

"TV channel of kids singing either in a field or by a Christmas tree depending on the year?" . .. I really don't know...🤔

Must have been a hotel thing for the tourists. 

Cheers bud

[CollectForFun]

@daca may also be able to share some valuable experience in this area

[daca]

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).

 

Edited September 17, 2022 by daca

[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

 

[daca]

For comparing prices I use

https://www.gold-preisvergleich.de/

and

https://www.gold.de/

I've bought gold from some german / austrian dealers (including 2 that are sponsor of TSF), always happy with the services provided.

Remember if a deal seems too good to be true, then it probably isn't real.

Research the dealer you chose, check reviews, do a search on the forum and if you have doubts ask on the forum "has anybody bought from x....."

 

Good luck with the hunt ....