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Buy and sell precious metals?

Posted: Fri Apr 07, 2017 7:05 pm
by fruitfly
I came across a website that showed a graph going up and down according to gold and silver prices - is it possible to be involved in this type of trading from home?

Re: Buy and sell precious metals?

Posted: Fri Apr 07, 2017 7:35 pm
by Brewtrog
I have no experience of doing it, so everything that follows is guess work.
I know there are plenty of websites that buy and sell precious metals to people. And gold is supposed to be a pretty good investment as the price of gold should only ever increase. But I imagine, as a normal person, you wouldn't get trade prices (if that exists for precious metals).
Saw a TV show on discovery about a bunch of guys finding precious metals in unusual places, but that did smell a bit of reality TV.

Re: Buy and sell precious metals?

Posted: Mon Apr 10, 2017 4:07 am
by Weedo
You can trade precious metals (eg Gold Certificates) in the same way as shares via the stock market. If you want to trade in the physical stuff, then you need to be able to store it and move it around. Some organisations offer this alternative (eg Mints) who will sell you a quantity of gold at a price, often in a fixed form such as a 5 ounce bar - you can then re-sell as desired.

Re: Buy and sell precious metals?

Posted: Tue Apr 11, 2017 8:18 am
by grahoom
Hello,

If you're in the UK and you're going to get into gold, then I'd recommend Gold Sovereigns - Reason is, because they're still considered legal tender (face value of £1) - you don't pay VAT on purchase of them and you don't pay Capital Gains Tax. (also as Sovereigns are coins, some become collectable and have more value than the gold content)

Sovereigns are something I am interested in - and I've recently set up a Treasure Hunt!

http://sovereignhunt.uk/

So - if you're keen, then keep an eye on the web-site above and I'll be posting additional clues to the location of a Half Gold Sovereign

Re: Buy and sell precious metals?

Posted: Tue Apr 11, 2017 4:18 pm
by fruitfly
I'd rather find a buyer for my silver coins... thanks for the link though, but I don't drive so I won't be able to go driving around the country on a treasure hunt, even thought I like the idea of it.

Re: Buy and sell precious metals?

Posted: Fri Apr 21, 2017 7:46 pm
by Skippy
Brewtrog wrote:And gold is supposed to be a pretty good investment as the price of gold should only ever increase.


From what I've read the price can fluctuate but the value remains pretty much constant. I know that sounds a little bit odd but it was explained as thus, 2000 years ago in Rome an ounce of gold would get you a good toga , nowadays that same ounce will get you a saville row suit so in effect the value has hardly changed in two millennia even if the "price" has gone up. Or , in their words , gold is a way of protecting an investment rather than being an investment on its own. I was in two minds about that being 100% correct although I can see the analogy about suits of clothes as I still think in the short term there is money to be made.
I'd follow advice to purchase coins . As said sovereigns attract no VAT plus they are visibly recognised as gold and are harder to fake or debase than are ingots. I personally wouldn't touch the paper gold market and would stick to the physical metal. Silver is another metal to consider , cheaper than gold but similar in many other aspects although I believe it attracts VAT . I remember reading a blog from an Argentinian who lived through his countries economic problems. If I can find it again I will put up a link , however, he spoke of gold and silver jewellery being used commonly as currency which is perhaps something else to consider.

Re: Buy and sell precious metals?

Posted: Fri Apr 21, 2017 7:59 pm
by Skippy
Ok found it , a lot of it is admittedly a bit tin foil hatty and deals with societal collapse but read through and it does speak about gold and silver.
http://ferfal.blogspot.co.uk/2008/10/th ... -2005.html