uk buy gold sovereigns
Is now a good time to buy gold and which sovereigns are the best?
I know the price is high now compared to the past, but do you think the price will go much higher? Are sovereigns the only coins you don’t pay capital gains tax on? Should I get old, new coins or a combination of both? I live in the UK by the way.
The ATS bullion said krugerrands are the most popular coin. Why would they be more popular than sovereigns?
I think the gold price will range between US$850 and $950 although it has been recently $1000.
It is not a bad idea to tuck away “spare” money into gold as it is a hedge against inflation and surely we are going to have some of that in the next few years!
Don’t forget if you have GBP you are also basically buying US dollars if you buy gold.
Yes the Kruger is the best coin, because it is made for investment purposes. It weighs 1oz, but, of course it is not 1oz of gold as it is 22ct. So that is 22/28thsoz.
Calculate the value of the gold (22/28 x $923(28th March 2009) /1.4317(Exchange rate)). On a quick calculation that’s about £506 but remember the gold price and the exch. rates fluctuate.Expect to pay a little bit more than this and of course, if you were selling the same coin it would be slightly less.Say £495-516
You could go to a reputable dealer like Spinks, Johnson Matthey or Stanley Gibbons or go to Hatton Garden (check the buying and selling price first) .No VAT. Not sure about CGT, but maybe as they are valid currency there isn’t any, but check that out.
Look after the coin/s because you don’t want them to get scratched or nicked (make sure they are perfect when you buy).
The sovereign (and 1/2 sov.) are much smaller and therfore cheaper. A sov. is 22ct and 0.2354oz (remember gold is measured in Troy ounces, not Avoirdupois!) so the calculation is the same as Kruger.
Old sovereigns are dearer because of the collectable value (The Kings and Q.Victoria are the old ones.) so bear this in mind.Again look at the condition. Is it possible to buy newly minted coins from the Royal Mint, maybe.
How about jewellery? Like a sovereign ring or bracelet/necklace? Or a gold Rolex? Of course this will have other value, but might provide pleasure as well.
Alternatively an ETF (Exchange Traded Fund).(GBSS.L or GBS.L) These will track the price of gold fairly closely and are easily bought or sold instantly.
See http://www.shareworld.co.uk/index.php?page=buying-gold
or contact them or their forum for more questions.
If you have the spare cash go for it!
Sinclair Gold Sovereign calculator – 1976
Gold Enters “Strongest Period” as Eurozone Debt Crisis Returns, US Fed “Playing with Fire”
THE PRICE OF GOLD in wholesale dealing held flat Monday morning in London , easing down to $1226 an ounce as European stock markets rose but government bonds and traded commodities were also unchanged.
The price of gold is linked to how strong the US dollar is. uk buy gold sovereigns Because of the great increase of gold over the last ten years, many investors believe it is a good time to buy and speculate. uk buy gold sovereigns But remember that gold is a commodity, and doesn”t sit and earn interest like a bond in the bank.