Which gold

[AaaGee]

6 minutes ago, BipolarStacker said:

So how can I tell difference between polished and cleaned mate ?

and yes other opinions are brilliant as I am very new to this that’s why I ask so many questions 😂 

and yes I agree the coin I bought has outstanding detail I was happy with it 

Im guessing that if you are buying sovereigns that are not in great nick you would have trouble selling them later on and if they are eventually heading to the dealers/melting pot you may get under spot for them. 

If you buy decent condition coins, when you go to sell, not only will they attract more buyers you may sell at an extra premium on top.

With your budget you could do very well 😎.

As for cleaned or polished coins, i dont know. But id have ripped the sellers arm off like you did the other day if i had the money. That was a great purchase and way to good for the melting pot.

 

AaaGee

 

[pricha]

For £500 a week I'd be buying quality rather than quanity.  Quality always sells. 

[BipolarStacker]

Thankyou guys appreciate your messages and have taken it all into my massive head 😂

[James32]

2 hours ago, pricha said:

Cleaned coins should only be a  concern if the coin has a numersmatic value. Usually they'll be light scratches on the surface. Some worse than others. The natural  luster will vanish. Polished coins look like my head after I've been swimming.  Shiney.  No natural luster. I've buried polished coins in the garden to dull them but it never works. 

Do you need your grass cut? Not a euphemism either.

[AaaGee]

2 minutes ago, James32 said:

Do you need your grass cut? Not a euphemism either.

Bring a shovel.

[James32]

Just now, AaaGee said:

Bring a shovel.

If he says aye..imma bringing handcuffs 

[AaaGee]

And a shovel?

[BipolarStacker]

I’ll do the garden for free 😂

[Bratnia]

On 28/04/2024 at 11:54, pricha said:

With respect spending £500 a week on poor quality sovereigns seems a terrible idea especially if that is the whole of your weekly savings budget.  Yes gold has gone crazy in the past few months but it doesn't always do that. 

+1

Open a 212 or suchlike ISA/stock account and look to keep stock and gold values around equal, perhaps something like VMIG (FT250 stock index accumulation fund) for the stock holding. After a while you may find that you're also selling some shares to buy more gold; Or selling gold to buy more shares as the prices yo-yo around. Averaging in over many years is inclined to have your average cost of stocks and gold average out to a good/reasonable figure. In retirement you reverse the process, selling some of whichever is the higher value at the time, also averages out to a good figure. 'Average' may sound mediocre - but most investors don't even achieve the average - average is actually good.

Rather than coins you might use a gold ETF, and periodically shift some of that into/from physical (coins) in a more bulk manner, you may get better deals that way (such as 10+ coins at a time). Britannia's tend to have the lower premium to spot than Sovereigns, especially when 10+ are being bought, as are dealers more inclined to offer closer to spot (rather than a discount to spot) when selling 10+ to them.

As a example of what can happen look at gold 1980 to 1999. The price around halved over those years, and even worse if you factor in inflation. 50/50 stock/gold however saw something like 6 or 7 times more ounces of gold being held at the end of 1999 without having added even a additional penny to the portfolio. Good stock gains/poor gold. In other cases, 2000-2009 for instance it flipped the other way around, poor stocks/good gold, reduced ounces of gold to buy more (relatively cheap) stocks.

This is US data, but UK was similar https://www.portfoliovisualizer.com/backtest-asset-class-allocation?s=y&sl=3jyAVr2E97dhvrwschgN6T - worth studying to get a 'feel' of things.

[Bratnia]

On 28/04/2024 at 15:31, BipolarStacker said:

Thankyou guys appreciate your messages and have taken it all into my massive head 😂

Thought I had tinnitus - but my GP says its just a case of echoes echoes echoes