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One for the precious metal dealers


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A brief education, if you will, into buying of precious metals. I'm exploring the idea of looking to buy physical silver and/or gold and would be most grateful if anyone could offer advice as to what I should be looking to buy and from where.

I've thought maybe buying direct from the Mint (coins or bars) but I guess that will be at a premium so it would mean trying to find a reputable dealer or collector who may be wanting to sell. 

For coins I would imagine the 1oz Silver Brittania's or Gold Sovereign's possibly. Bars seem to present a resale issue, as in they don't seem to have the same integrity or versatility/fungibility as coins.

Thanks in advance. 

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I’m no expert but have been told the best way to buy physical gold is buying coins like sovereigns and Britannia’s as you don’t pay Capital gains tax on profits that way. Bullion by post are a reputable source 

cheers

Tom

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Bullion gold coins are the way to go. They are CGT and VAT free. To give you an idea of price the current spot price of 1oz gold is £1230, Royal Mint is selling a 1oz Britannia at £1330, Bullion by Post at £1320 and Atkinson at £1309. So as you can see prices do vary. Buying single coins is the most expensive way to buy, dealers give discount for multi buy. Silver Brittania coins are CGT free but are not VAT free. 

Edited by toontastic
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I have been buying gold coins for many years, I buy from Atkinson the Jewellers, Birmingham. Paul the owner is very helpful.

I don’t know of any dealer cheaper than Paul, the Royal Mint is the most expensive source. Most of my coins are sovereigns and Britannia’s with some Krugerrands.

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1 minute ago, Stuarta said:

I have been buying gold coins for many years, I buy from Atkinson the Jewellers, Birmingham. Paul the owner is very helpful.

I don’t know of any dealer cheaper than Paul, the Royal Mint is the most expensive source. Most of my coins are sovereigns and Britannia’s with some Krugerrands.

The people I know who buy gold all use Atkinson. 

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3 hours ago, toontastic said:

Bullion gold coins are the way to go. They are CGT and VAT free. To give you an idea of price the current spot price of 1oz gold is £1230, Royal Mint is selling a 1oz Britannia at £1330, Bullion by Post at £1320 and Atkinson at £1309. So as you can see prices do vary. Buying single coins is the most expensive way to buy, dealers give discount for multi buy. Silver Brittania coins are CGT free but are not VAT free. 

Just to add, this applies to UK numismatics coins only, also some benefits for the reduction of inheritance tax. I have some in a bag i bought from Mel B

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5 hours ago, Old farrier said:

You would do well to follow the price up and down for a while

if you bought a year ago you would have lost money 

3 years ago and you would have made a profit 

I bought gold a year ago , with the full expectation of losing money . I bought it as the sky seemed to be falling in on the world  ,  and the only things that would be worth anything,  would be gold and toilets rolls . I'd intended to cash it in if I didn't have to use it ,  but I'll probably just sit on it forever now.

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2 hours ago, mel b3 said:

I bought gold a year ago , with the full expectation of losing money . I bought it as the sky seemed to be falling in on the world  ,  and the only things that would be worth anything,  would be gold and toilets rolls . I'd intended to cash it in if I didn't have to use it ,  but I'll probably just sit on it forever now.

Gold toilet seat. 🤷‍♀️

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4 hours ago, loriusgarrulus said:

Gold toilet seat. 🤷‍♀️

I must confess to once owning a glittery gold toilet seat many years ago . I thought it was really cool.

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