Here's The Problem With Buying Gold Bars
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- Опубліковано 8 вер 2024
- Thanks for watching, looking forwards to chatting in the comments.
Discount code £10 off at www.thegoldbullion.co.uk
"0A319" Even works on their competitively priced best value sovereigns
Would you like a free 1 oz Silver Britannia on your next gold order?
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Currently Bullion By Post have a referral offer if you sign up through my link and make a qualifying order as a new customer. Alternatively use code 'NS5DZ7WX' when you're signing up to the website in the 'how you heard about us' section.
Multi Use Capsules with foam insert
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The Gold Sovereign Series - Marsh (Fantastic resource for sovereigns - The new version is due out later in August 2024 - I have pre ordered which is currently on a 23% discount ... 2nd link)
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The Gold Sovereign Series 2024 Edition
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Coins of England - Spink (A lot of info for sovereigns but also other British coinage)
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Sigma Precious Metals Verifier I use
UK ebay.us/uBTpot OR ebay.us/zGLAnw. I don't know either of these sellers personally.
For the USA I found this seller ebay.us/5OW7vF
22.5mm Capsules (Sovereign, 0.25 oz Britannia etc)
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Coin Tube (Sovs and 0.25 oz inside capsules)
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33mm Coin Capsules (Gold 1oz Britannia recent years)
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Digital Scales (small)
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Leather £1 Coin Holder (The blue and red ones I have in the videos, note I don't store coins in these long term they're more for show in the video but haven't done any damage)
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This video should not be taken as financial advice and is for entertainment only
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My only reason against the bars is the packaging. My hiding space is small and all of that unnecessary packaging is a challenge 😂
Yes good point
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I have six gold bars, unfortunately the manufacturer is Mc-Vitie's 😁
They're definitely not keeping up with inflation have you seen the size of them these days? 🤣
5:11 ⚖ Gold bars offer lower premiums compared to coins due to simpler minting processes, making them attractive for acquiring gold at a lower cost.
6:43 🛡 Bars can be heavily faked, so buyers need to be cautious, especially with loose bars lacking intricate designs or assay cards.
8:04 📈 While bars may have lower premiums, coins like Sovereigns in the UK offer tax advantages for capital gains, making them more favorable for stacking.
9:48 🎁 Gold bars, like the 20g Royal Mint bar, are more collector-oriented or suitable as gifts due to their presentation and design, rather than for bulk stacking.
11:16 🇬🇧 In the UK, Sovereigns and Britannias have capital gains tax exemption status, making them preferred for stacking compared to bars.
Hey 👍 SS
I do have several Gold bars myself, but nowhere close to what I have in coins.
My only recommendation would be if someone is going to be purchasing Gold bars to make sure they're buying from a reputable dealer. Cheers ⚡️ 🍻
Yes always important!
I have always bought coins. It is only recently that I started buying bars, and that is mainly because I like the different designs. 🙂
There are some fantastic designs around
So when are we getting a full stack video. I'm secretly jealous of your collection.
We'll see... Logistically difficult but perhaps one day
I have a few nice bars in my collection but never in my stack. The negatives far outweigh the positives compared to Brits and sovs
Yes you're right, some lovely designs but like you say...
Britain makes some of the most beautiful coins out there. I've got some royal mint rounds, and they are stunning.
Yeah they do have some nice designs in the mix
That’s the Hindu god Ganesh not just an elephant. The mint make a series of them and they make excellent Diwali presents if you have any family or friends celebrating but I wouldn’t use them to stack - I’m with you in the sovereign camp.
Yes as lovely as they are
I’m doing similar with 5g bars. Just picking up the more interesting ones that are fun to hold and hopefully retain a premium in the future 👍🏼
In the right market they should do ok but it does take some thought and most dealers won't realise those higher premiums for us on the way out
In Australia, all bullion has capital gains tax, and only 999+ or 24k can be classed as bullion.
Non pure, such as 22k gold has GST as you mentioned.
My dealer, Bullion now buys back all bullion quality at spot price. So literally the best deal is bullion low premium bars, and selling back to them at spot.
They sell 1 oz gold bars at 1% over spot, and buy back 100% of spot. That's a 1% spread!
Sovereigns are one of my favourite coins, while I have some, unfortunately the GST means that it can't be the main part of my stack.
Yes exactly
In your position I'd be likely buying less sovs and stick to either the Perth bars or coins
out of topic question: why did gold price didn't start going up in 1971 (Nixon act) and instead it started in 2000? I can't wrap my mind about that... I did read about the 2000 start being related to miners, but I don't understand why it basically didn't move in the previous 30 years.
I would love to collect some gold but it's so expensive, I've just been stacking silver.
How big is your silver stack? , I hear this time again they can't afford gold yet some of the same people have several of many 1000s of oz of silver . UK government hates silver HMRC loves it.
@@seminumismaticguy8575 oh wow not that big just a few oz's. Why does the gov hate it and I guess HMRC love it as when you come to sell it, it's taxed heavily.
@@weepz taxes buying and selling . Vat means you have to make 20% more profit than gold to make silver the preferred choice then you have to add extra premiums for silver 20% v 3% so all in silver will need to out perform gold by 35-45% for it to be the best choice. The problem since 1970s silver rarely out performs gold at all never mind by 40% on any timeframe and on the odd occasion that it does then it's only for brief time . Unlike the silver pumpers who lie daily it's going to the moon I don't expect you to believe me I just suggest you find the gold and silver price every year since the end of the gold standard and work out every combination of 1,2,3,5,10,15,20,25,30 year period to see for yourself . Those prices are the spot prices without tax and premiums too. I do believe that this year will be one of the rarities where silver outperforms gold but that is semi irrelevant what is important is what's likely to happen when you need to sell and in all probability gold will be superior.
@@seminumismaticguy8575 Thank you! That is a lot of working out for my mind, I just like the idea of holding real money despite it's fiat value. :)
Funnily enough I stack gold because I think silver is expensive... genuinely I know per Oz it costs less I just don't think it has the same value. The premium above spot price plus in some cases the taxes mean I don't but a lot of silver these past few years
Assayed gold bars. ALWAYS handle with gloves
Even with gloves it's risky
i like bars they look nice but i can only sell upto 6grands worth till the cgt kicks in as were the coins are exempt
For the current tax year in the UK (April 2024 to April 2025) the limit is no only £3k not £6k. Remember if you're selling shares or properties that aren't your primary residence etc these all use that same allowance.
@@SovereignSauruscheers i really appreciate the update i will definitely stick to sovereigns and brittanias, thankyou saurus.
Bear in mind it’s not £6k worth of bars, it’s £6k (or £3k this tax year) worth of profit on those bars 👍🏼
@@kvntsuay I would keep a variety as since it's classed as legal tender the gov can call it all in at any time.
I think the Royal Mint does like to over charge. Great video! Thanks for the interesting commentary. I think that all gold, coins, bar, rounds are counterfeited.
Selling bars to dealers will yield 2 - 3% under spot. Besides being non-CGT free, you will also be registered by the dealer if you sell greater than £10k in a single year. That'll be declared to our beloved government. Many disadvantages.
Not as favourable as CGT exempt coins generally speaking for those in the UK
Conteúdo que eu gosto é feliz em ver este vídeo 👍🇧🇷
The wrinkled film is just that. It's the equivalent of the film you get on a new mobile. It looks tatty. It can be removed with absolutely no detriment to the resale value. It can be replaced by heat shrink micro film if preferred.
Yes the bar is safe enough inside the assay card
I dont like the assays at all. My bullion shop is offering some loose at a tiny discount and i have thought of getting a few, because i do like them.
But i dont stack those.
On the other hand, you have me absolutely wanting to stack soverigns!
They are a great coin!
Yeah 1 dealer I know doesn't really pay any difference for assay or not (but pays generally lower for bars than coins. Some dealers might pay more but probably not by much. Probably need to sell on the 2nd hand market somehow to realise the most £$
I am new investor. What is best option for me to buy gold ?
Like 103🎉 Full sovereigns are a good choice, very liquid 👌 😊
Thanks Wolfie
What is the name of the series of this gold bar with the elephant on it? And where can I buy it?
You buy them direct from the Royal Mint. They have a collection of them which they release every Diwali - the elephant is the Hindu god Ganesh.
Thanks Peacock. I've seen a couple come up on dealers sites in pre-owned too
I’ve recently started to pick up a few 1 gram gold bars, firstly, they are gold and secondly, they are cool to play with 🙆♂️.
Cool. Nice option quite a few people seem to like them
100 percent government minted coins for me, only!
👍🏼
I can't see myself buying anything substantial in gold bar form... especially the RM Indian range.. premiums are too high..
Yeah not something I'd make a habit of either
@@SovereignSaurus From what I've seen and heard .. the Perth mint Roo's and swans are the most faked bars.. seen loads on Ebay .. some even sell .. for half way what there worth if real.. makes you wonder who'd pay £800 for a fake one ounce bar..
Time to buy Platinum 🎉
I don't know that much about Pt. Haven't owned any yet actually either
if you'd bought platinum 10 years ago you'd be down 10% now and that's not taking inflation into account. you'd have been better buying palladium but neither have performed as well as gold.
Hey SS, you sound a bit horsey, have you got a sore throat?🤒
Don't recall having one no 🤔 All fit and healthy here
Jesus Christ, get rid of that shiny rock and buy some digital gold $bitcoin
🤣😂🤣😂
If you cant hold it, you dont own it.
@@HappyHermitt if they can take it or tax it, I won’t hold it
@@HappyHermitt how many of those gold bars can you hold without breaking your back or get through an airport without being confiscated? Can you hold your house?
Don't worry I'm far from 'all in' on gold
gold is gold this click bait
🤣 Gold is gold except when you buy or sell it my friend
I sold a bar recently.
The buyer cut it in half to test it, so fancy packaging counts for nothing.
Brutal. I assume they were sending it for melt after that?
Bit extreme, easy just to test it on a sigma metalytics