Travelgall's Guide to Precious Metals and Coins

Does anyone have any field tests for determining whether coins are genuine? I was offered a bit of a bargain a while ago that I turned down because it sounded too good to be true, but now I'm curious.
 
I've just shorted Gold at 1199 targeting 1120, stop at 1208.1. I think the current little rally has topped out and I'm happy to risk 50 quid on the trade at an 8:1 reward to risk. I think Friday's high was all about the unexpected Chinese interest rate cut and we are going to see US$ strength return in the run to Christmas.
 

Dan2512

Old-Salt
I'm hearing rumblings online of a predicted financial downturn. I'm watching the price of precious metals with interest.
I see that China is in decline and the Baltic dry goods index is staggeringly low.
 

Dan2512

Old-Salt
45% ouch. That'll teach them for being honest. Given the highly mobile nature of gold bullion, it didn't need to go that way if they'd had a bit of gumption. What would the deceased relative have wanted to happen I wonder?
 
There are still cases of honest folk finding gold. A couple in California found a stash reported it and as there was no know owner got the lot. Few years ago someone in London I think found a glass jar under the soil, investigating it belonged to a family who hid it pre ww2 . sent it back to them. Thats honest not daft.
 

ancient

War Hero
This looks fun but anything remotely serious in gold looks out of my reach. Silver looks more like it. If it attracts VAT at 20 %, I'm right in thinking that I would need to see a 20% increase in value before I even broke even? Or can I off set profits to losses and pay the difference in VAT. Make allowances for my dimness please.
 

sirbhp

LE
Book Reviewer
I am looking to purchase two grands worth of gold coins from the royal mint as a long term safe boring investment.
Are they the best people to get sovereigns from? or do local banks sell them?
The idea is to buy two grands worth a year for the next five years then sit on them for ten years.
Cunning plan ?
 
a long term safe boring investment.
Coins have a hefty markup on the base price, particularly nice shiny new sovereigns and the foreign equivalent. If you want just 'gold', buy bullion (you'll see the difference in prices on any dealer's site). Nice to have some shiny stuff, though, I've bought a bit over the years as a long-term, boring investment and I roll around in it every so often. Royal Mint is trustworthy - many, particularly foreign dealers (mostly in the ME) are not.
Working at [what was then*] the world's largest gold mine, I once had a case where a significant amount was found near the Mauritanian border, probably destined for Dubai. It had already been adulterated and would have been a very poor investment for whichever clients it was going to end up with. The major bullion dealers are good.

* Edit: Just checked; not even in the top ten now; that's duff management for you.
 
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I am looking to purchase two grands worth of gold coins from the royal mint as a long term safe boring investment.
Are they the best people to get sovereigns from? or do local banks sell them?
The idea is to buy two grands worth a year for the next five years then sit on them for ten years.
Cunning plan ?
Magic beans mate. That's Where's the serious money is going, oh and tulip bulbs. Pm for a good deal
 

ancient

War Hero
I am looking to purchase two grands worth of gold coins from the royal mint as a long term safe boring investment.
Are they the best people to get sovereigns from? or do local banks sell them?
The idea is to buy two grands worth a year for the next five years then sit on them for ten years.
Cunning plan ?
Last time I was at the Royal Mint in Llantrisant , sovereigns were about 50% higher in price than on the open market. You did get a nice little velvet lined box with a clear plastic lid however.

That was from the gift shop. Maybe you can get a more reasonable price if you are not a tourist with more money than sense.

It's a good day out though, if you're down that way .
 

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