Buying some goldsh... best coins and where from?

[Mr Whippy]

Did a few PH searches, not much specific came up, and with the markets having changed alot recently I think some of the general idea that gold is a bad idea may well have changed a bit!?


I'm looking at just buying a few grands worth tops, coins look sensible from what I have read, but to get a low premium I have to buy lots, and the amount I'm after doesn't seem optimum for a low premium.

Anyone have some? Best place to buy from etc? Lots come up on Google, someone on a past PH thread even mentioned eBay for Krugerrands?!

Thanks

Dave

[Fittster]

Why do you think gold is a good idea? If the collapse of the banking system hasn't caused it to rise in price what do you think is about to occur that is likely to get it back to $1000 an ounce?

[Maxf]

In a worse case scenario, a purse of gold (yarrrrr) will get you further than a wad of paper backed by a bank which no longer exists!

A shotgun would get you further still though...

[Mr Whippy]

Fittster said:

Why do you think gold is a good idea? If the collapse of the banking system hasn't caused it to rise in price what do you think is about to occur that is likely to get it back to $1000 an ounce?

I'm not desperate for the money any time soon, so if it bombs down to $500 and takes 5 years to get back up I won't be too upset. Unless a gold asteroid hits earth I doubt it'll ever be worth nothing!?

Would that £2000 be better earning just enough to match inflation (ISA etc aside), along with all my other savings, or would it be better on the stock market as a medium term investment, as 'numbers on paper'? Or in an Iceland bank locked in for the short term (as a big chunk of my brothers is, who will likely receive nice new printed devalued sterling soon)?

Maxf said:

In a worse case scenario, a purse of gold (yarrrrr) will get you further than a wad of paper backed by a bank which no longer exists!

A shotgun would get you further still though...

Well, thats a valid reason why it's handy to just have there, but I have access to a shotgun too, should the worst really happen

Dave

Edited by Mr Whippy on Monday 13th October 11:17

[V8mate]

Maxf said:

In a worse case scenario, a purse of gold (yarrrrr) will get you further than a wad of paper backed by a bank which no longer exists!

A shotgun would get you further still though...

Bottles of whisky are pretty good currency once all the banks and shops have closed too!
Helps people forget what greedy bds they were.

[xiphias]

Am I the only one who read the title as goldfish?

[Mr Whippy]

Sorry, perhaps my thread title had me asking for non serious answers, but I am genuinely interested in anyone who has bought some gold coins and what/who they found were the best etc...

Think Kruggerand on eBay with a good feedback broker seems the best so far... as much as I hate eBay...

Dave

[Fittster]

Mr Whippy said:

Fittster said:

Why do you think gold is a good idea? If the collapse of the banking system hasn't caused it to rise in price what do you think is about to occur that is likely to get it back to $1000 an ounce?

I'm not desperate for the money any time soon, so if it bombs down to $500 and takes 5 years to get back up I won't be too upset. Unless a gold asteroid hits earth I doubt it'll ever be worth nothing!?

Would that £2000 be better earning just enough to match inflation (ISA etc aside), along with all my other savings, or would it be better on the stock market as a medium term investment, as 'numbers on paper'? Or in an Iceland bank locked in for the short term (as a big chunk of my brothers is, who will likely receive nice new printed devalued sterling soon)?

I've no idea what anything will be worth next week let alone in 5 years time. It just seems odd that gold which is supposed to be the ultimate safe heaven hasn't moved when the banks are in ruins. It pays no dividens so if its not going up in value why bother?

If its pure speculation fair enough but a post office account is just as safe and at least pays some interest.

[Maxf]

Don't forget - in the early 1980s gold his record highs. It took 20-odd years for it to recover to these levels so 5-years might be a bit short.

this is all from memory - might be worth googling.

[Mr Whippy]

Yeah, I understand there are some inherent risks if the value moves around a bit and doesn't recover.

I might just buy £1000 worth, or even £500, it doesn't matter really, I just want some

http://www.taxfreegold.co.uk/wesellkrugers.html

I also have a diamond/platinum ring to buy, but I doubt my partner will ever want to sell that, but while I'm spending a small fortune on rare stones/metals I thought I'd buy myself some gold coins

Dave

[robinhood21]

xiphias said:

Am I the only one who read the title as goldfish?

Me to.

Might be better of with tinned food than gold at the moment.

[bleesh]

I used Chard's in Blackpool when I bought some Krugerrands a few years ago.
http://www.chards.co.uk/
Nice and easy to deal with, coins all shipped fully insured.

However, make sure they're stored securely in either a safe or, ahem, at the bank...(maybe not a good idea at the moment).

My 8 grand's worth got nicked in a burglary

Steve

[Albert Bridge]

xiphias said:

Am I the only one who read the title as goldfish?

I did too!

[Mr Whippy]

bleesh said:

I used Chard's in Blackpool when I bought some Krugerrands a few years ago.
http://www.chards.co.uk/
Nice and easy to deal with, coins all shipped fully insured.

However, make sure they're stored securely in either a safe or, ahem, at the bank...(maybe not a good idea at the moment).

My 8 grand's worth got nicked in a burglary

Steve

Ah, it looks like Chards operate the taxfreegold website I found above using Google, should be sound enough then... their prices seem to be better than eBays for buying a chunk of Kruggerands too! (not for just one at a time though)

Yeah, I've been pondering where to put them... but I want be buying £8000 worth, so I feel alot safer just splitting them up and putting a few in a safe in appropriate places here and there.

Dave

[johnfm]

if in it for the long haul why not buy a decent stock - coka cola, amex, VW, Porsche, Microsoft etc - in all likelihood will return dividends and capital growth over the long haul.

I'd just look at where Buffet is sticking money for Berkshire Hathaway.