Myfordman
AKA 9Fingers
I've been wondering about a few gold coins as a hedge in these uncertain times.
Bob
Bob
Any one buying gold coins?
- Thread starter Myfordman
- Start date
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Trevanion
Greatest Of All Time
It’s a little pointless now in my opinion since the price has gone up so much. Also if sterling crashes so will gold prices, it’s not a 100% safety net.
Jonathan S
Established Member
No gold......Bitcoin and gold backed crytpos.
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Sent from my SM-J530F using Tapatalk
In the past I have held gold coins, Sovereigns; really small in size btw 
Found it boring and risky and sold them with no ££££ gain
Now heavy into Premium Bonds which give me a steady trickle, not won any large amounts but quite happy -- four prizes this month total of £100
No premium or charge to buy or sell
Easy to buy and check results on line
No advice intended
Found it boring and risky and sold them with no ££££ gain
Now heavy into Premium Bonds which give me a steady trickle, not won any large amounts but quite happy -- four prizes this month total of £100
No premium or charge to buy or sell
Easy to buy and check results on line
No advice intended
Phil Pascoe
Established Member
We made £150 in three draws with premium bonds ............. £60,000s worth.
Garno":22l8fxfi said:
Here in the states, gold just got confiscated when it really became useful. i don't think it lends itself to transacting well, either. Currency is no longer on a gold standard, and in my opinion, if there's going to be a valuation issue, since it's dependent on debt and future economic output, you'll see it coming for a long time.
As a matter of investment, it's terrible. It appreciates with inflation only, at best, and it's volatile. It's not tied to economic value, so when the economy grows, it doesn't grow with it.
Trainee neophyte
Established Member
Two years ago would have been better. Now is still good. If you want to remove wealth from the prying eyes of the government then definitely. If you want a hedge against inflation then yes.
Money in the bank doesn't belong to you, it belongs to the bank. Cash or gold are acceptable alternatives, as neither pay interest, just like the bank account. If you are planning on making gifts, or an inheritance (much, much later, obviously), then gold bypasses all the taxes (yes, tax evasion, which is probably illegal, unlike tax avoidance, but how would they know?).
The downside with buying gold is how do you know it is real? You can get guaranteed ingots, sealed in blister packs, but you aren't allowed to take them out to check them(!) without voiding the guarantee. You can buy direct from the Treasury, which ought to be reasonably safe, you would think,except they then know you have them. If gold ownership should be outlawed (as it was in USA for many, many years), you will be required to turn them over to the government.
It all comes down to your view of the future: if you think there will be low inflation, high economic growth, stability and comfortable prosperity for all, owning gold will be a poor investment. If you think there will be instability, high taxes, high inflation, and /or bank failures with bail-ins for depositors, buy gold hand over fist. If you are afraid of being seen as a tin-foil-hat wearing weirdo, buy second-hand jewellery, and impress your significant other (in this modern age, it doesn't do to presume and say "wife").
Oh, and there are lots of people on the internet who sell gold, and they all say, all the time, that the price of gold will rocket any day now. It won't, unless the economic system fails. This could happen, if the overlords print too much money, too fast. They have a history of always doing that at the end, so it doesn't hurt to have a bit of security tucked away. Allegedly 10% is a good amount for those with a wide portfolio.
Money in the bank doesn't belong to you, it belongs to the bank. Cash or gold are acceptable alternatives, as neither pay interest, just like the bank account. If you are planning on making gifts, or an inheritance (much, much later, obviously), then gold bypasses all the taxes (yes, tax evasion, which is probably illegal, unlike tax avoidance, but how would they know?).
The downside with buying gold is how do you know it is real? You can get guaranteed ingots, sealed in blister packs, but you aren't allowed to take them out to check them(!) without voiding the guarantee. You can buy direct from the Treasury, which ought to be reasonably safe, you would think,except they then know you have them. If gold ownership should be outlawed (as it was in USA for many, many years), you will be required to turn them over to the government.
It all comes down to your view of the future: if you think there will be low inflation, high economic growth, stability and comfortable prosperity for all, owning gold will be a poor investment. If you think there will be instability, high taxes, high inflation, and /or bank failures with bail-ins for depositors, buy gold hand over fist. If you are afraid of being seen as a tin-foil-hat wearing weirdo, buy second-hand jewellery, and impress your significant other (in this modern age, it doesn't do to presume and say "wife").
Oh, and there are lots of people on the internet who sell gold, and they all say, all the time, that the price of gold will rocket any day now. It won't, unless the economic system fails. This could happen, if the overlords print too much money, too fast. They have a history of always doing that at the end, so it doesn't hurt to have a bit of security tucked away. Allegedly 10% is a good amount for those with a wide portfolio.
Trainee neophyte
Established Member
Jonathan S":11b6jymp said:
Cryptocurrency is far too volatile for my taste - I don't do loss very well, and cryptos are all over the place, all the time. They are also worryingly easy to steal, lose, or just evaporate. A bit like a bank account, these days.
A gold-backed cryptocurrency negates the entire point of owning gold - if it's not in your hand, you don't own it. You are relying on some bunch of allegedly upright people to run a system that is honest, fair and not a scam. A bank, in other words.
If you don't mind the third party risk, you can day trade gold online. Someone like billionvault.com, for example. But you are relying on them to be honest.
Cordy":npbyguw9 said:In the past I have held gold coins, Sovereigns; really small in size btw
Found it boring and risky and sold them with no ££££ gain
Now heavy into Premium Bonds which give me a steady trickle, not won any large amounts but quite happy -- four prizes this month total of £100
No premium or charge to buy or sell
Easy to buy and check results on line
No advice intended
Premium bonds are ok but statistically you will not make more than base rate interest. That being said, a nice win every now and again bumps your numbers up for a while and there is always a chance of winning big.
We had a bigish win in that family that was several times more than the initial investment so that was good.
Myself so far I make a steady return of 1.5 to 1.7% per year, more than a basic savings account so I can't complain too much.
Simon_M
Established Member
Hi BobMyfordman":12yc4bv4 said:
It’s quite a good idea to have some gold as well as securities or bonds etc.
Some reasons to have gold:
https://www.investopedia.com/articles/b ... n-gold.asp
A website for gold lovers:
http://www.321gold.com
You can buy physical gold, coins (as you suggested), an ETF or shares in gold mining companies as a way to gain exposure to the stuff.
Simon
Depending on how much you plan to buy etc, I found a smallish investment in coins (for the gold value) to not really be worth it.
Buying online, as cheaply as possible, there were a few coins available for about 4% above the scrap bullion value. When it came to selling, it was spot price less a couple of percent so the price needed to move a chunk before seeing any profit at all.
I looked a few months back, the % may be a bit out but the conclusion was about the same.
Buying online, as cheaply as possible, there were a few coins available for about 4% above the scrap bullion value. When it came to selling, it was spot price less a couple of percent so the price needed to move a chunk before seeing any profit at all.
I looked a few months back, the % may be a bit out but the conclusion was about the same.
Trainee neophyte
Established Member
Trevanion":3qefi27y said:
If sterling falls, gold will rise commensurately. (Sorry to be contrary.) Gold is priced in dollars, so you could just buy dollars instead, but if the dollar falls, gold rises. All about views on future values, inflation, etc.
We might be about to have a change of monetary system, so local currencies could collapse. Gold might be a hedge against that - all the central banks have suddenly started buying gold again....don't know what that means. Also tier 1 assets that banks are allowed to hold have just been changed to include gold. China and Russia are buying hand over fist, and have been for several years.
The thing with gold is that no matter what its current value, you still have the same number of coins. Stocks, shares, currency can all evaporate to nothing, your gold is still there - it might just be that no one else will want to buy it. It is an investment for the paranoid, the weird, and drug dealers and money launderers.
heimlaga
Established Member
I rekon the finance maket has destabilized the monetary system worldwide by creating money out of thin air and by inflating the value of pretty much all they trade.
One day the bubble is going to burst. I only hope the air will come hissing out slowly providing us all time to adopt instead of a sudden burst sending the whole world economy down the crapper.
My investment money is tied up in a piece of woodland. We are heating my parent's house and building stuff with the interrest paid out on that investment.
By the way I did read somewhere about an anonumous lass who had pierced the partition wall of her nose and stretched the hole to accomodate a rather thick 24 carat gold ring. That way she rekoned her last financial resort was always kept right under her nose...... and to potential robbers she would look just like yet another uneployed penniless youth not worth robbing.
One day the bubble is going to burst. I only hope the air will come hissing out slowly providing us all time to adopt instead of a sudden burst sending the whole world economy down the crapper.
My investment money is tied up in a piece of woodland. We are heating my parent's house and building stuff with the interrest paid out on that investment.
By the way I did read somewhere about an anonumous lass who had pierced the partition wall of her nose and stretched the hole to accomodate a rather thick 24 carat gold ring. That way she rekoned her last financial resort was always kept right under her nose...... and to potential robbers she would look just like yet another uneployed penniless youth not worth robbing.
mbartlett99
Established Member
Buying physical gold is fairly easy and in such a case you would be well advised to keep it in the suppliers vault. If you take possession and then wish to sell it would need to be assayed to prove its purity.
Much simpler to buy into gold backed ETFs - watch a video on trustnet or citywire for more info.
Wheher its a good idea at all, well good luck with that goldbugs tend to be rather passionate about it all.
Much simpler to buy into gold backed ETFs - watch a video on trustnet or citywire for more info.
Wheher its a good idea at all, well good luck with that goldbugs tend to be rather passionate about it all.
Droogs
Not the Sharpest Moderator in the box
I'm sure if I ever bought any precious metal for keeping and not using as inlay in my woodwork, that I would want it to be physically in my possesion, the reason being I remember seeing a documentary which showed the amount of gold traded worldwide each day actually weighed more than the known amount of gold mined throughout history. Also When you buy they do their damnedest to get you to let them keep it for you.
Phil Pascoe
Established Member
One problem with cryptocurrencies is that they have no value whatsoever as collateral, so if you needed the cash you'd have to sell at the going rate - my wife works for Handelsbanken, and they wouldn't touch them with a bargepole.
Trainee neophyte
Established Member
mbartlett99":11zrtw4a said:
I wouldn't touch a gold ETF with someone else's bargepole. ETFs commingle their holdings,so it's not your gold. If you are buying gold it is because you don't want counterparty risk. Holding your own allocated gold in a vault is the same, but much less risky. Holding it in a tin can buried in the back garden would be even better. The paranoid US gold hoarder community have a thing for boating accidents - keep your gold at the bottom of a lake, and deny all knowledge. The USA does have a habit of outlawing ownership, which may have something to do with it.
lurker
Le dullard de la commune
My nephew owns a small gold trading company based in Nottingham.
He is a clever lad and now moderately wealthy.
Even though I could buy gold from him without paying commission he advises me not to bother.
He says I should have got on the band waggon 10 years ago, problem is I had no spare funds back then :roll:
He is a clever lad and now moderately wealthy.
Even though I could buy gold from him without paying commission he advises me not to bother.
He says I should have got on the band waggon 10 years ago, problem is I had no spare funds back then :roll:
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