how can I buy real physical gold ingots?

martco

Hi,

(sorry for my ignorance in advance)

I'm not rich, average Joe really. Like many I'm worrying about the state of euro affairs at the moment and have been for many months now...I'm thinking about the circa €10k I have saved in the bank (and my parents maybe have €100k retirement give or take).

It's clear now at least to me (I'm not economist but....) especially after yesterdays Dail meeting that NOTHING has changed despite the optics we have been fed.

bottom line is that I'm starting to believe that the system is indeed nothing more than a fancy 3.30 at Kempton and not to be trusted in this latest iteration of the system we have.

I know in the end if there was a run on the banks or OUR irish €'s tanks in some kind of 2 tier system maybe to come I'll feel like an eejit for not putting it in some other more stable format. I thought about literally buying a safe drawing it all out in notes in a move to "under the mattress" but I've even been reading now about that maybe all € notes are not necessarily the same, depending on the serial number/where they're minted etc. so if I happened to have 1/3 of the 100 or 500 notes in a move like this and say they had Greek s/numbers I'd be in bother anyways. I think you can't exactly hold that much notes in say USD or STG. I'm thinking that really ANY paper based or electronic means is open to compromise...so maybe any of this would be a futile move if things went sideways

SO my question is this: Is there a way to buy real actual physical gold bars/ingots if say you had around €100k to spend?

To be clear I mean actual physical, not shares in gold or bonds or any form of trust system outside me having the hardware in my own hands? As in in the same way I could go to Antwerp into a wholesaler and buy diamond

?

thanks
Martin

Soulja boy

Firstly, don't buy all into one thing, gold though more reliable then euro could still be a bubble, it is at a very high level.

I wouldn't really worry about the serial numbers on your notes, if the euro zone breaks it will be on a country to country scale, but the depreciation could be huge.

People are looking for safe places to have their cash at the moment and most end up going for the swiss franc or gold, so maybe try balance between them.

To physically buy gold people here mention Bullionvault but I have no idea how good they are.

irishh_bob

martco wrote: »

Hi,

(sorry for my ignorance in advance)

I'm not rich, average Joe really. Like many I'm worrying about the state of euro affairs at the moment and have been for many months now...I'm thinking about the circa €10k I have saved in the bank (and my parents maybe have €100k retirement give or take).

It's clear now at least to me (I'm not economist but....) especially after yesterdays Dail meeting that NOTHING has changed despite the optics we have been fed.

bottom line is that I'm starting to believe that the system is indeed nothing more than a fancy 3.30 at Kempton and not to be trusted in this latest iteration of the system we have.

I know in the end if there was a run on the banks or OUR irish €'s tanks in some kind of 2 tier system maybe to come I'll feel like an eejit for not putting it in some other more stable format. I thought about literally buying a safe drawing it all out in notes in a move to "under the mattress" but I've even been reading now about that maybe all € notes are not necessarily the same, depending on the serial number/where they're minted etc. so if I happened to have 1/3 of the 100 or 500 notes in a move like this and say they had Greek s/numbers I'd be in bother anyways. I think you can't exactly hold that much notes in say USD or STG. I'm thinking that really ANY paper based or electronic means is open to compromise...so maybe any of this would be a futile move if things went sideways

SO my question is this: Is there a way to buy real actual physical gold bars/ingots if say you had around €100k to spend?

To be clear I mean actual physical, not shares in gold or bonds or any form of trust system outside me having the hardware in my own hands? As in in the same way I could go to Antwerp into a wholesaler and buy diamond

?

thanks
Martin

ive dealth with both of the following companys and have no compalints

goldbank
goldcore

google either or both , goldbank charge less comission but goldcore have a wider range of product services

Big Davey

Any update on this post ?
Would gold or silver be a better investment now ?
It seems the coins can be vat free as they are legal tender or something ?
It's all very interesting I am going to get the free e-book from goldcore and might just start with a few american Eagles or something.
Great post.

irishh_bob wrote: »

ive dealth with both of the following companys




and have no compalints

goldbank
goldcore

google either or both , goldbank charge less comission but goldcore have a wider range of product services

euroboom13

I wonder how proud this op parents are ,after reducing there savings from 100k to aprox 70k.

Gold ain't always a safe haven.

Big Davey

euroboom13 wrote: »

I wonder how proud this op parents are ,after reducing there savings from 100k to aprox 70k.

Gold ain't always a safe haven.

Sure it will go back up eventually :-)
It's better than putting money into forestry and loosing it due to climate change................

sin_city

Have a look at silver also...Just check out Perth Mint and other mint distributors in Ireland.

You could also buy direct from the mints

KSnee

''Any update on this post ?''

As far as I can tell there are four bullion dealers operating in Ireland at the moment (Maybe I've missed some ??).

GoldBank (dot ie)
GoldCore (dot com)
National Gold & Silver (nationalgold dot ie)
Irish Gold Bullion and (irishgoldbullion dot ie)

The first three are all Irish owned and have been around for 5+ years. The last one is around less (possibly 2 / 3 years) and is the Irish version of UKGoldBullion dot co.uk.

There may be others but when selecting a dealer I'd pick one with a track record and who is likely to be there when you come to sell.

''Would gold or silver be a better investment now ?''
The issue with Silver is that there is VAT at the standard rate (currently 23%) on all silver. This in my opinion makes gold a better option as the transaction costs are much lower. Lots of people will argue that if the silver is legal tender then its VAT exempt but according to revenue silver legal tender coins are only VAT free if intended for use as legal tender. No one could reasonably argue that a €5 silver philharmonic coin purchased for €17.50 was intended for use as legal tender.

''It seems the coins can be vat free as they are legal tender or something ?''
See above

newmug

My worry would be the question of, "are you getting value for money"?


If I had E20K in Euro, and decided to buy E20K worth of physical gold off one of the aforementioned dealers, would they give me the accurate amount for that value?


So say, for example, that Kitco valued 1kg of gold to be worth E10K, then Goldcore should give me exactly 2Kg of physical gold. I'd pay them for the job of doing this. However, would Irishbullion then buy my physical gold back off me, for the same value? Or for whatever Kitco valued it at that day? Or would they offer me peanuts, safe in the knowledge that I cant go into supervalu with a gold bar and shave pieces off it to buy my groceries? They have you by the balls really.