Best way to buy Gold bars or coins?

A question about : Best way to buy Gold bars or coins?

Hi,

I have between Ј1000 - Ј2000 to invest and I was thinking about buying some Gold. Does anyone have any recommendations on where/what to buy? I've tried googling but it all looks a lot more complicated than I first thought....I thought I would just send off for some kruggerands or something but it looks like that is not the best way to do it

:confused:

Thanks,
Mark Morb

Best answers:

• You can buy over the 'phone - two reputable dealers are Chard and Baird & Co. Baird used to be more expensive than Chard - I expect that's still the case.
• The current rate (on BBC website) is $883 per ounce.
• No CGT liability on sovereigns or Brittanias, unlike most other forms of gold investment (krugerrands included), if that's likely to be an issue.
• You'll struggle to buy an actual physical Gold Bar for Ј 2,000, as the one's used for trading (London Delivery) are 400 oz or the smaller one's are called Kilobars which as the name suggests is 1,000 grams or 35 oz
  Actually in the world of Gold they refer to everything as Bars, as long as it has an official 'stamp' on it !!!
• The London Good Delivery Bar is the standard "large" bar kept in bank vaults, 12.5Kg and around £70,000 at the moment. But as purch says, nearly everything is referred to as a bar, you can buy them for a few ounces!
• on working lunch, last year, they had a news story about this: i forget the technical name they used, but you can purchase some really beautiful looking small 'bars' (they called it something else, forget what) which are chisel stamped* with size (oz.).
  *i mean 'embossed'
• you can buy gold in the form of an ETC. This will track the price of gold.
  https://www.etfsecurities.com/en/secu...securities.asp
  If you want to buy physical gold, buy a coin, they are more aesthetically pleasing.
  There are quite a few coins that sell just above scrap value.
  I would look for an attractive coin, find its actual gold weight, and convert it into troy ounces.
  For instance:
  https://www.taxfreegold.co.uk/1976aus...gsbamberg.html
  0.3906 troy ounces of gold * $883 = $344
  They are selling for Ј150 = $289, so there is an instant profit of 16% if they will actually honour that price. I suspect not, but you can easily find the gold content of a coin by fineness * weight. One troy ounce is 31.10 grams, and the price of a troy ounce is on the BBC's website. Google will convert dollars into pounds: "1 gbp in usd"
• Sorry meester, I thought you meant through a UK based dealer with a physical presence, not ebay where tbh I'd be very reluctant to buy.
  EDIT - OK if you know/ have previously dealt with the seller, I suppose.
• Hate to be a bit of a killjoy - but where are you going to keep them! Remember the cost of safes/security can cost more than the goods - needs a bit of thought!
• buy plain gold coins from asian jewellers.
  some friends have £30k worth in gold coins bought when gold was $300
• I've used coininvestdirect.com before to purchase some coins - the coins themselves seem to come from Germany but are sent via UPS so secure enough.
• And coininvestdirect.com track the price of gold & silver 'to the second', so they claim.
• Wow, Thanks for all the great advice. That's given me plenty to look into.
  Cheers