Gold Investing

Discussion in 'Just Talk' started by glob@l, Jun 16, 2021.

  1. dubsie

    dubsie Active Member

    Exactly, to make money buying and selling gold you have got to be trading in volume and looking at tiny market trends. Holding onto gold long term is simply a way of protecting wealth against inflation as it's seen as a safer bet then cash. But you could say the same thing about art and valuable artifacts.....another thing the wealthy will buy to hide and protect wealth.

    There is no get out of jail card for people in this situation other than to cut back and hold your breath and hope things get better. My opinion is we are in a very bad place because our growth is the worst in the G7 which will mean lower than expected tax revenues partnered with the need to support a crumbling state infrastructure....I'm afraid tye government failed to fix the roof in the summer
     
  2. Baxi Boy

    Baxi Boy Active Member

    Full sovereigns on eBay are selling for around £380-400,halves are £190-£200.
     
  3. Muzungu

    Muzungu Screwfix Select

    It is worth taking into account that if you are buying and selling sovereigns through a dealer there will be a spread, roughly, of around 12%. So the gold price will have to increase by 12% before you break even. The advantage of buying sovereigns over bullion is that it is CGT free. But of course that only matters if you make a profit that puts you in that bracket.

    I would not recommend buying privately as you will never know what you are getting.

    The dealer I use.
     
  4. Baxi Boy

    Baxi Boy Active Member

    Very few things are made of 24 carot gold.It’s often 9 or 18,Sovereigns are 22 carot.
     
  5. Baxi Boy

    Baxi Boy Active Member

    I have bought several times on eBay,always had the genuine things,I often collect and check size and weight!
     
    Muzungu likes this.
  6. dubsie

    dubsie Active Member

    I would not buy anything like that on eBay, these things are often counterfeit and weight proves nothing. You buy and sell this stuff via the official routes or risk losing all your money.

    There are different coins with different purity and weight and sell at different prices. You can buy a half sovereign but the value of royal mint can also be influenced by how rare they are.

    We have yet to experience the level of inflation required to buy gold. If this was Turkey then gold would be viable but inflation is still only 11%.....it's not hyper yet.
     
    Muzungu likes this.
  7. Baxi Boy

    Baxi Boy Active Member

     
  8. Baxi Boy

    Baxi Boy Active Member

    Sovereigns are 7.98 grams and 22.05mm diameter,1.52mm thick,no other metal can equal this,so if all this is correct you have 22 carot gold.
     

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