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[Ghak94]

Hi all,

Just wanted to introduce myself as a new member. I'm completely new to collecting anything shiny and after receiving a small bit of inheritance I wanted to diversify my investment portfolio (long term) into some gold and silver. Over the last several weeks I've been going over beginners guides and yt videos but am struggling a little to find a particular bit of advice I'm looking for. 

I'm currently living in the UK but towards the end of 2023/ early 2024 I'll be moving permanently across the pond to live in Texas, USA. If i start stacking and collecting now, will it be too much of a legal headache/ too expensive to move what I own over with me or has anyone done this here without any difficulty? 

One option i was thinking of was to only buy bars and sell up everything before I move?

Another was to ship everything over to my father-in-law already out there. However the thought of anything getting lost worries me as well as the expense of heavy shipping costs.

 

I appreciate any help in advance or anyone that can point me in the right direction. 

 

Ghak94

[trp]

Welcome to The Silver Forum!  

[stefffana]

Hi, and welcome on forum!

For your specific situation, if you want physical, I would suggest to buy the most liquid gold for UK: sovereigns.

Before moving, you can sell them very easy on forum in maximum one week for 2%-3% over spot, in bundles eventually and to re-invest in USA the released money. 

My knowledge about travelling with gold is only from UK for European Union, I don't know about travelling to USA.

Happy stacking!

Stefan.

 

 

[Ghak94]

5 minutes ago, stefffana said:

For your specific situation, if you want physical, I would suggest to buy the most liquid gold for UK: sovereigns.

Before moving, you can sell them very easy on forum in maximum one week for 2%-3% over spot, in bundles eventually and to re-invest in USA the released money. 

 

 

 

Thanks, 

In terms of silver is there much difference in the liquidity of solid bars and coins such as Britanias? My concern with the silver coins is loosing money (when selling to move) to any milking and loosing out on the premium I pay for it. Spot price is going to be the same over there so not too worried about selling at a loss then just buying back for the same price if it were a bar for example. 

[LawrenceChard]

20 minutes ago, Ghak94 said:

Hi all,

Just wanted to introduce myself as a new member. I'm completely new to collecting anything shiny and after receiving a small bit of inheritance I wanted to diversify my investment portfolio (long term) into some gold and silver. Over the last several weeks I've been going over beginners guides and yt videos but am struggling a little to find a particular bit of advice I'm looking for. 

I'm currently living in the UK but towards the end of 2023/ early 2024 I'll be moving permanently across the pond to live in Texas, USA. If i start stacking and collecting now, will it be too much of a legal headache/ too expensive to move what I own over with me or has anyone done this here without any difficulty? 

One option i was thinking of was to only buy bars and sell up everything before I move?

Another was to ship everything over to my father-in-law already out there. However the thought of anything getting lost worries me as well as the expense of heavy shipping costs.

I appreciate any help in advance or anyone that can point me in the right direction. 

Ghak94

There are lots of different guides and advice online including YouTube, but most of them are done from one person's viewpoint. There is a lot of conflicting advice, some of which is quite poor.

I wrote "Advice Guide for UK Bullion Investors"

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

A while back, based on 50+ years of experience, and written for the benefit of investors rather my company's own self interest.

While you are still in the UK, it will be relevant to you, but obviously once you reach the USA, some of it will be less relevant, mainly because of VAT and CGT.

If what you take with you is of high value, it would make sense to take it with you personally, as hand luggage. Boxes, etc could go in hold luggage.

I doubt if you will have to pay any import tax when taking it into the USA, but you should try to check with the US authorities, they may publish something online.

You will need to complete declaration forms on export and import, for Anti Money Laudering Purposes, if your total valuables exceeds about £10,000 although US rules may be different.

Some TSF members may have experience, so may be able to give practical advice from their own experience.

😎

[stefffana]

Just now, Ghak94 said:

Thanks, 

In terms of silver is there much difference in the liquidity of solid bars and coins such as Britanias? My concern with the silver coins is loosing money (when selling to move) to any milking and loosing out on the premium I pay for it. Spot price is going to be the same over there so not too worried about selling at a loss then just buying back for the same price if it were a bar for example. 

Silver is more for long haul. It is good to stay away for moment and to buy it from USA, where it is not 20% VAT to pay. Eventually, you can buy from US, using your father-in-law delivery address, if you trust him enough (I am not joking here).

But I would go for gold sovereigns.

[Ghak94]

8 minutes ago, LawrenceChard said:

I wrote "Advice Guide for UK Bullion Investors"

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

Thnaks, I'll be sure to give this a read 👍

[Pete]

Since you are looking to hold PMs for just over a year you are running a risk of losing money if for example gold dips a bit.
That's if you have to sell of course so I would check the regulations about transferring PMs to the USA without incurring tax or duty etc.
Your situation is totally different than just visiting so there could be rules that mean you can keep all your PMs.

In the past silver was considerably cheaper to purchase in the USA than in the UK even more so now with our 20% VAT.
However some dealers, Apmex for example, seemed to get greedy and bumped up their prices making them often more expensive than buying in Europe.

Look for the other big bullion dealers in the USA and compare prices for silver and if you can buy cheaper in the USA have the silver shipped to your father-in-law. Silver is presently considered cheap but gold sovereigns would be my choice if buying gold right now.

Gold coins and bars ( keep the weight to 50g ) are bought and sold on relatively small margins of a few percent and are very liquid.
You can buy gold online instantly and sell instantly with cash in your account literally the same day.

You show you live in London so check out sites like Hatton Garden Metals, visit them in person or drop into Sharps Pixley, for example, where you can buy over the counter. If you are purchasing a significant amount of gold e.g. above £50,000 in one tranche then definitely call BullionbyPost, Atkinsons and Chards and see if they will give a little discount as every bit helps.

[ChrisSilver]

Hello and welcome to The Silver Forum  

[daca]

Welcome aboard and enjoy the ride!

[Happypanda88]

Hello! Welcome to the forum.

All the best with your new adventure into precious metals.

[Scootermuppet]

Welcome to the forum!

I believe @Mtaybar is in a similar position - I.e. moving to the States in the (near?) future… 🤔

Might be worth asking him what his plans are…?

ATB,
Bob