How to Buy Gold Coins in the UK
Gold is one of the best investments that you can make – even now – because it is stable. You may not make a huge profit with gold in the short term, but since it is a physical item that has a clear use – and that is also desirable because of its comparative rarity – it is an asset that tends to steadily trend upwards in value. Just check the price today at Gold Money – UK gold price.
Buying gold coins is a good way of investing in small items of gold as and when you can. Until a couple of years ago, the only way to buy bullion coins – which are intended for purchase by investors instead of for collectors who desire a perfect finish – was only available for purchase through dealers. Now, it is possible to buy them via the Royal Mint directly, with prices changing regularly to reflect the gold market. The Mint is willing to store purchases for investors, for a fee – and there are other options for people who want to get the bullion shipped to them.
Before you buy, check the spot price, and make sure that the gold coins actually contain the amount of gold that you expect – a sovereign should contain 0.2354 of a troy ounce, for example.
Check the storage costs for your coins. Gold Bullions are exempt from VAT – but the storage fee is not, so if you’re storing them in a vault then you could end up paying out a lot of money compared to the ‘earnings’ that the gold will make over time. It can also be a good idea to chat to your Financial Advisor to make sure you are allocating a sensible amount of your porfolio. If you do not have a Financial Advisor, why not chat to Abbey Financial Advice Belfast.
It’s good to know, though, that gold coins don’t attract capital gains tax, so when you do come to sell them, the money that comes from the sale will be yours to keep.