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British Gold Sovereigns

  • 20-09-2009 7:43am
    #1
    DublinWriter
    Registered Users, Registered Users 2 Posts: 9,560 ✭✭✭


    I'm looking to buy British Gold Sovereigns.

    Apart from the general discussion about investing in gold, is there an overhead for the cost of the coin itself over the gold content of the coin?

    In other words, I don't want to pay a premium for the scarcity\rarity\collectibility of the coin, I just want to use them as a vehicle for pure gold investment.


Comments

  • #2
    lucky-colm
    Closed Accounts Posts: 798 ✭✭✭lucky-colm


    then why don't you just buy gold bonds or you can buy gold bullion yourself


  • #3
    DublinWriter
    Registered Users, Registered Users 2 Posts: 9,560 ✭✭✭DublinWriter


    lucky-colm wrote: »
    then why don't you just buy gold bonds or you can buy gold bullion yourself
    Because I'd like to have the actual gold...to hold, caress, fondle....ahem.


  • #4
    Chrysostomos
    Closed Accounts Posts: 48 ✭Chrysostomos


    DublinWriter wrote: »
    Because I'd like to have the actual gold...to hold, caress, fondle....ahem.

    gollum.jpg


  • #5
    heno55
    Registered Users, Registered Users 2 Posts: 123 ✭✭heno55


    nice one:)


  • #6
    c4cat
    Closed Accounts Posts: 518 ✭✭✭c4cat


    DublinWriter wrote: »
    I'm looking to buy British Gold Sovereigns.

    Apart from the general discussion about investing in gold, is there an overhead for the cost of the coin itself over the gold content of the coin?

    In other words, I don't want to pay a premium for the scarcity\rarity\collectibility of the coin, I just want to use them as a vehicle for pure gold investment.
    There would be a premium plus there is VAT on gold coins too, so you are effectivly losing about 25% of your investment on buying actual gold coins, have'nt you paid enough tax on yr earnings already? why pay more


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  • #7
    silverharp
    Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    c4cat wrote: »
    There would be a premium plus there is VAT on gold coins too, so you are effectivly losing about 25% of your investment on buying actual gold coins, have'nt you paid enough tax on yr earnings already? why pay more


    there is no VAT on gold coins or bullion. The premium is pretty small on soverigns because they are a common coin, there is no reason to pay more then 5% over spot. timing is more the issue. Now might not be the best time.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • #8
    c4cat
    Closed Accounts Posts: 518 ✭✭✭c4cat


    silverharp wrote: »
    there is no VAT on gold coins or bullion. The premium is pretty small on soverigns because they are a common coin, there is no reason to pay more then 5% over spot. timing is more the issue. Now might not be the best time.
    a

    Sorry you are right I stand well corrected, I now see VAT on gold coins was abolished which I was not aware of


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