Gold

[TimberWolf]

I've finally taken the plunge and opened a BullionVault account and a few £thousand is winging its way over ready to be exchanged for the overpriced metal. Watch its value plummet over the coming months

Now to get my arse further in gear and find the best USD account and the best currency exchange mediators.

[DimPrawn]

I've finally taken the plunge and opened a BullionVault account and a few £thousand is winging its way over ready to be exchanged for the overpriced metal. Watch its value plummet over the coming months

Now to get my arse further in gear and find the best USD account and the best currency exchange mediators.

I've got a Cater Allen Sterling and USD account (didn't bother with EU as that currency is just as fooked as sterling).

If you take the Cater Allen exchange rate to convert GBP to USD and back you have a 2% spread, but if you are transferring more than about $25K, they will give you a much better deal.

I'm not worried about losing 1% going from GBP to USD and back compared with losing 20% of it's value if you leave your money in GBP and do nothing.

Next step for me is physical gold (sovereigns - no VAT no CGT) and store the coins in a safety deposit box.

[TimberWolf]

I've got a Cater Allen Sterling and USD account (didn't bother with EU as that currency is just as fooked as sterling).

If you take the Cater Allen exchange rate to convert GBP to USD and back you have a 2% spread, but if you are transferring more than about $25K, they will give you a much better deal.

I'm not worried about losing 1% going from GBP to USD and back compared with losing 20% of it's value if you leave your money in GBP and do nothing.

Next step for me is physical gold (sovereigns - no VAT no CGT) and store the coins in a safety deposit box.

I've got your previously provided links bookmarked together with a load of others to look at. Sovereigns confuse me a bit as buying appears to be much easier than selling and their price varies a lot depending on what's printed on them. What type of sovereigns are easy to sell and don't have a big spread? I'm initially tempted by the cheapest ones, i.e. closest to the ore value rather than collectors items that cost more for the same amount of gold. They would be a long term hold I expect.

[Cliphead]

How about Krugerrands

[DimPrawn]

How about Krugerrands

CGT is payable on any rise in price.

Because Gold Sovereigns are legal tender in the UK there is no CGT to pay on the rise in their value due to the rise in the price of gold.

[milanbenes]

forget the sovs you need krugers

Milan.

[DimPrawn]

forget the sovs you need krugers

Milan.

Disagree is you live and pay tax in the UK.

If gold price rockets from here you are either going to have to pay the tax man if you hold krugers or evade the tax.

Why do that when there is a tax free option?

[milanbenes]

Ok Dim,

you got me there, I did not know about the legal capital gains difference between Krugers and Sovs in the UK

I was under the impression that AU was not subject to cgt

but I bow to your superior knowledge on the subject

thank you

Milan.

[DimPrawn]

No, CGT applies to bullion, ETF holdings and non legal tender gold coins.

[milanbenes]

ok thanks

Milan.