Investing in gold

[sexymuffin]

you're better off buying coins rather than bars as UK gold coins are exempt from both VAT and Capita Gains tax. While they are nominally more expensive than krugerrands, if you're likely to be selling a lot, the CGT element is zero on UK coins.

Do you Pay Capital Gains Tax on Gold Bullion? CGT Free Gold

There are a few places where you can buy more or less at the spot price for gold (currently running close to 2 year low prices. I use Baird & Co Bullion Merchants from time to time.

Great post. I looked at one recently where the spread was about 7% I’ll check these lot out

 

[safcforever]

Well, cough, I wouldn't say no to a couple of tons.

A few years ago, there was a bloke who sold loads for cheap as fuck

 

[Butcher's Coat]

A few years ago, there was a bloke who was told by the Treasury to sell loads.

Tidied

 

[Geronimo]

Watched this video on youtube about this bloke that collected scrap electrical/computer parts and extracted the gold from the chips/ motherboards. Made a canny wedge doing it apparently

He didn't because it is impossible to make a profit because of the minute quantities involved and the cost of the extraction processing

 

[Hair Flick]

Tidied

A few years ago, there was a bloke who sold loads for cheap as fuck to save Goldman Sachs & JP Morgan’s arses

Tidied further

Gordon Brown Dumped Britain’s Gold to Save Goldman Sachs & JP Morgan

 

[Butcher's Coat]

A few years ago, there was a bloke who sold loads for cheap as fuck

He (Brown) was advised to sell it by the Treasury in stages over a 3 year period back in 1999.
Gold bullion was thought to be a reserve that was not going to have a real future. It was expensive to guard, and the train of thought was that a reserve of such was not needed. It's value would rise and fall on the world open market, and not make any profit/interest just sitting there in a vault.Traditionally in times of war, a gold reserve was used to purchase/guarantee essentials from other parties for war efforts. No world wars were envisaged, and still haven't happened since then.

So the gold was sold to buy currencies.
Namely US$, Euro and Japanese Yen. All of which was traded on the world market and profits made from these.

But Tory lies and propaganda over recent years has made out that this deal was a bad one. The Tories made some cheap statements, saying that Brown cost the country £19 billion about this in 2011 - when the world bullion price was high, but this was a good 10 years plus after the sale of the gold.

Who knows what would happen in a ten year futures market???

Brown took the brunt of this IMHO, but quite wrongly.