Buying gold and silver in the UK

[teardropexplodes]

Hey ppl.
I am asking for advice regards purchasing gold and silver!
I finally decided to keep a little physically... just in case.
Thing is I do not have a clue about where to get it?
Any advice? Any experts out there?
Sorry if people always ask this!

Matt.

[pumma]

Hey teardropexplodes :)

Have you tried this site before?

http://www.atsbullion.com/

[teardropexplodes]

Thanks for the link... yeah, after some googling that was the only real site I came up with. I thought I'd post here first in case anyone had any tips or knew of any decent, obscure sources :)
I will give em a call this week though.
Have you taken similar measures?

Matt.

[tom bombadil]

Hullo teardropexplodes.

I would not purchase unless you feel need to have a garentead value (by that I mean it tends to stay of a valued item).

Depending on how much cash you have, I would buy the smaller denominations. These would be of greater value than a block of gold. If you needed to trade then you could barter better for the eveyday things with a smaller ingot. So I have heard.

Why do you need gold or silver anyway? If it is ok to ask.



Tom.

[teardropexplodes]

Mr Bombadil,
I have some spare cash and seeing as it is not earning money I thought, what the hell, I'll grab myself some hard, physical wealth.
THose of us living in crazy nations where our currencies are controlled by central banks could soon be in a terrible, terrible mess.
We're heading for what could be the longest, "greatest" depression ever and my money could be rendered worthless. So I'd like some insurance.
If the economists I'm listening to are wrong, which they rarely are, and if the BBC are right, then I'll still have the gold and silver.
I'm buying large sacks of rice too and other long-lasting foods. It's a similar thing. If everything is OK after all, then I will be eating the foods anyway.
And yeah, I'm going for the smallest denominations possible.

[rydeon]

I bought a 1 oz Kuggerand a while back. Cost me £460 from a coin dealer last year.
I had to have my passport!

There are rules in place for gold buying set by the customs and excise folk.
You can't buy any more than £5000 worth of the stuff (so if hyper-inflation kicks off buying might be a problem).

[tom bombadil]

Mr Bombadil,

Please. Tom, to my mates. And Never a 'Mr'.


:)
Tom

[jonas parker]

Hey ppl.
I am asking for advice regards purchasing gold and silver!
I finally decided to keep a little physically... just in case.
Thing is I do not have a clue about where to get it?
Any advice? Any experts out there?
Sorry if people always ask this!

Matt.

The rule of thumb in Texas is "beans, bullets, and band-aids" first. Make certain you have your food for 6 mos to 1 year, weapons and ammunition (which is probably more a problem for you folks in the UK than for me), and medical supplies and prescriptions. This comes first!

Next, I'd buy silver coinage. US coins were made of 90% silver up through 1964, and their silver content is well known. Canadian coinage was 80% silver until approximately the same time. Look for UK coins that because of their dates are silver. People will easily recognize them as "money" and their silver content is well known. I've found the best place to buy silver coins is on eBay. I can usually get them for under the spot price of silver, including the shipping, but I have to work at it.

Finally, look for gold "fractional" coins first (1/10 ozt). If gold goes to $1000/ozt, (it's $923/ozt as I type this) then these will be worth $100 each. You want a coin that can be used in trade without a problem of getting change for a large amount. With 1ozt coins, it's like going shopping with only $1000 bills... not very practical.

There are books at coin shops that list every coin by date and give the precious metal content in troy ounces (ozt). It's probably worthwhile for you to spend the money and buy the book. Here in the US, it's the 2009 Official Red Book of US Coins.

Good luck. Send me a private message here on the board if you need any additional information. JP

[griswald]

There,s already an on going thread on the subject of gold and silver.

http://www.davidicke.com/forum/showthread.php?t=42685&highlight=griswald

griswald

[mightiswrong]

Gold is going to go down. Look where the money is headed:

On the other hand, there are enough people willing to gather wholesome, ecologically pure crops, and in doing so to pay 18 to 20 times more for the products than in the usual commercial network.
http://www.krameterhof.at/en/index.php?id=rueckblick

[1694]

I think it was 1947 when UK coins had their PM content repalced with base metals. Grishams law meant that the PM coins were quickly sucked out of cirulation. I had a jam jar of old coins which I gathered as a kid, whenever grandparents found them in a box in the attic or some such, only one was a silver 3p coin, the rest nickle etc.

Ebay is a good bet if the seller has good feedback. Silver imports are VATable.

Silver for barter, gold for bribes.

[jonas parker]

... Ebay is a good bet if the seller has good feedback. Silver imports are VATable.

Silver for barter, gold for bribes.

Would 1ozt Canadian Silver Maple Leafs (face value $5.00c) be "VATable"? This might be one way to go. Also Canadian dimes, quarters, half dollars and silver dollars were 80% silver through 1966 and part of 1967, and 50% silver in the balance of 1967 and all of 1968:
www.coinflation.com
-----------------------------Face Value - Current Ag value in US$
------1920-1967 Dime--------$0.10-----------$0.7637
------1967-1968 Dime (50%)--$0.10-----------$0.4773
------1920-1967 Quarter------$0.25 ----------$1.9094
------1967-1968 Quarter (50%)$0.25----------$1.1934
------1920-1967 Half Dollar----$0.50-----------$3.8189
------1935-1967 Dollar--------$1.00-----------$7.6379

Also, the Isle of Man has issued gold fractional coins (1/10ozt, 1/4ozt, etc.). These might be worth checking out.

[1694]

Would 1ozt Canadian Silver Maple Leafs (face value $5.00c) be "VATable"? This might be one way to go. Also Canadian dimes, quarters, half dollars and silver dollars were 80% silver through 1966 and part of 1967, and 50% silver in the balance of 1967 and all of 1968:
www.coinflation.com
-----------------------------Face Value - Current Ag value in US$
------1920-1967 Dime--------$0.10-----------$0.7637
------1967-1968 Dime (50%)--$0.10-----------$0.4773
------1920-1967 Quarter------$0.25 ----------$1.9094
------1967-1968 Quarter (50%)$0.25----------$1.1934
------1920-1967 Half Dollar----$0.50-----------$3.8189
------1935-1967 Dollar--------$1.00-----------$7.6379

Also, the Isle of Man has issued gold fractional coins (1/10ozt, 1/4ozt, etc.). These might be worth checking out.


Actually might have posted that in hast, where the coins are legal tender they might not be VATable, ingots, jewelry or bullion rounds etc are.