Investing in physical gold – discuss

What changes can we make to our lives to deal with the economic and energy crises ahead? Have you already started making preparations? Got tips to share?

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SILVERHARP2
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Joined: 14 Feb 2006, 17:02
Location: DUBLIN

Post by SILVERHARP2 »

Pippa wrote:silverharp,

Do you subscribe to goldalerts?
No, havn't heard of it before, and info on gold I get is from, gold-eagle, safehaven and financial sense. Any gold I've bought has been though www.gold.ie as they do the Perth Mint scheme, I've recently opened a goldmoney.com account but havn't funded it yet.

What is goldalerts?
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Pippa
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Joined: 27 Apr 2006, 11:07
Location: Cambridgeshire

Post by Pippa »

Goldalerts is a company who you can subscribe to who then calculate the likely movement in prices in order that you an buy in and out of gold and silver to take advantage of spikes etc. I don't subscribe to them or any other company but have come across several recently and have been considering it.

On another point, if you buy english gold and silver sovereigns not only do you not have to pay vat on purchase and interest or income tax on any potential gain you are also, accordingly to the experts, exempt from any capital gains tax as the coins are legal currency here in the UK. The same is not true for any coins minted outside the UK.

This could be of huge benefit for anyone considering holding gold/silver coins if you believe that this commodity will go up in the future.

Is there an Irish gold/silver coin or can you hold sovereigns and benefit from UK law?
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SILVERHARP2
Posts: 611
Joined: 14 Feb 2006, 17:02
Location: DUBLIN

Post by SILVERHARP2 »

Pippa wrote:Goldalerts is a company who you can subscribe to who then calculate the likely movement in prices in order that you an buy in and out of gold and silver to take advantage of spikes etc. I don't subscribe to them or any other company but have come across several recently and have been considering it.

On another point, if you buy english gold and silver sovereigns not only do you not have to pay vat on purchase and interest or income tax on any potential gain you are also, accordingly to the experts, exempt from any capital gains tax as the coins are legal currency here in the UK. The same is not true for any coins minted outside the UK.

This could be of huge benefit for anyone considering holding gold/silver coins if you believe that this commodity will go up in the future.

Is there an Irish gold/silver coin or can you hold sovereigns and benefit from UK law?

To my knowledge there is no VAT on any gold coins or bullion in the EU, there is VAT on silver coins and bullion unless the coins are legal tender, for example US 90% junk silver as they look the same as the non silver coins (pre 67' or 68'). If buying silver I would use the Perth mint or goldmoney as they not based in the UK and don't charge VAT. I bought some US bags but would probably have to sell back to my dealer in the future as there is no market for these coins in Europe, unless you bring them to a smelter. My guess is you would be liable to capital gains (if you declare them), if TSHTF then I would be slow to do this apart from the Perth mint stuff as there is a paper trail. If you buy less then ?15K from gold.ie they don?t have to report your purchases

I wouldn?t try to trade gold, listen so some of the www.financialsense.com shows, as they giver a great overview on long term strategy
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