gold coins, page-5

Hi Coldnickle,

Below is a post I made a few days ago on the Silver thread, as you are asking questions regarding coins this may be helpful. I assume you are living in Australia, I have dual citizenship. The sad part of that is I can live in a lucky country run by idiots or a bankrupt one run by bigger idiots. Holding physical gold and silver for me is personal insurance against idiots in power in general.

I also include this link if it is of any help to you:

http://www.bullionbypost.co.uk/gold-coins/britannia-1oz-gold-coin/2012-britannia-1oz-gold-coin/

Apologies to others for the double post.

Hi Rathmore,

I am spending a year in the UK at present but like to keep up with what is going on and this site it ideal for that.

I placed an order for some 15 Kg random weight silver bars overnight from my Brisbane bullion dealer surprisingly I was told to expect delivery of these bars around August. I commenced buying precious metals in 2002 and this is the longest delivery I have ever been quoted.

You mention the BOE horde of silver I did not know about this. I have noticed a few funny quirks in regard to buying physical metal between Australia and the UK.

We are all aware of the BOE and Gordon Browns view of gold and his notorious 400 Tonne sale at the bottom of the market. I guess this is why I can buy UK minted gold coins free from both VAT (GST) and capital gains tax. Previous gold sales in Australia have caused a forty seven precent donation from me to the clowns in Canberra.

For this reason even though I pay a higher premium for gold coins than bars here in the UK the free CGT as against a 47 precent hit makes it a no brainer.

On the other hand I cannot bring myself to buy silver coins in the UK as they attract the current 20 precent VAT when I can buy in Australia without GST.

Not sure the reason behind these rulings maybe it reflects how the UK BOE views the relevance of the two metals.

As for me as long as I see continued money printing and no change in direction of the spend now tax later governments of the World I will continue to stack physical metal.

Also as long as I am posting a little general news from on the ground here in Yorkshire, I have never seen so many boarded up business in the villages and towns around here. This includes shops of all types and even to my personal dismay many of the wonderful old pubs. The remaining High Streets in many villages consists of real estate offices, mobile telephone stores, charity shops and various low cost take away food outlets.

Talking to some of the remaining business owners reveals very little confidence for the immediate future, they all say people are no longer spending money like they did. Most people feel they are working harder these days just to stand still. If I was ever tempted to move out of physical metal and into the general stock market the first companies I would look at would be those manufacturing and marketing antidepressant drugs.

As always this is just information passed along in good faith and certainly not investment advice your hard earned over taxed cash is far too precious to risk without doing your own full and due diligence.

Cheers: Andy