gold coin premiums

[Walktothewater]

Hi All,

 

I got a quote for (modern) gold coins from www.gold.ie. Admittedly its a small purchase, about €5k, but they are asking a 4.5% premiun on spot bullion for Kruggerands and up to 8% for american buffalos and 7.75% for other types. The guy said premiums for the Kruggerands would be "about 3%" if my order was large (like €50k).

 

These premiums seem high to me, are they?

 

cheers,

wttw

[alexays]

Hi All,

 

I got a quote for (modern) gold coins from www.gold.ie. Admittedly its a small purchase, about €5k, but they are asking a 4.5% premiun on spot bullion for Kruggerands and up to 8% for american buffalos and 7.75% for other types. The guy said premiums for the Kruggerands would be "about 3%" if my order was large (like €50k).

 

These premiums seem high to me, are they?

 

cheers,

wttw

 

Try Baird (tax free gold). But if you are in Ireland then you might not be able to get them delivered there.

[silverharp]

Hi All,

 

I got a quote for (modern) gold coins from www.gold.ie. Admittedly its a small purchase, about €5k, but they are asking a 4.5% premiun on spot bullion for Kruggerands and up to 8% for american buffalos and 7.75% for other types. The guy said premiums for the Kruggerands would be "about 3%" if my order was large (like €50k).

 

These premiums seem high to me, are they?

 

cheers,

wttw

 

I've used gold.ie before and i would recommend them, stick to the kruggs as they have the lowest premium. the % isn't high as it is not possible to buy gold at spot, unless you buy from an individual.

[p314285]

I've used gold.ie before and i would recommend them, stick to the kruggs as they have the lowest premium. the % isn't high as it is not possible to buy gold at spot, unless you buy from an individual.

 

If you are resident in the UK, I highly recommend that you put your money in either gold sovereigns or Britannias rather than kruggerands etc. This is because these coins are money and thus any gains on disposal would not be subject to UK CGT. There is a cut off point with sovereigns - it's limited to coins minted after , oh around 1836 (check the Revenue website).

[Walktothewater]

If you are resident in the UK, I highly recommend that you put your money in either gold sovereigns or Britannias rather than kruggerands etc. This is because these coins are money and thus any gains on disposal would not be subject to UK CGT. There is a cut off point with sovereigns - it's limited to coins minted after , oh around 1836 (check the Revenue website).

 

I believe CGT is levied also in ROI. But let's say I buy the Krugs, put them in my luggage, fly to wherever and sell them. This is the main reason Im thinking modern bullion coins over storage programmes. No paper trail. Lets face it, this is the point of personally holding bullion aint it? tax/inflation shelter and immediate liquidity.

 

 

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silverharp, I'll take your advice and go for the krugs. Though I may get an Austrian Phil just cos they look so cool! Cheers.

[silverharp]

I believe CGT is levied also in ROI. But let's say I buy the Krugs, put them in my luggage, fly to wherever and sell them. This is the main reason Im thinking modern bullion coins over storage programmes. No paper trail. Lets face it, this is the point of personally holding bullion aint it? tax/inflation shelter and immediate liquidity.

******************************

 

silverharp, I'll take your advice and go for the krugs. Though I may get an Austrian Phil just cos they look so cool! Cheers.

 

the first 10 coins I bought were the Phils then some 10oz bars and some krugs, and then Perth mint. I never intend to declare the sale of the gold coins if they ever go up x10, by definition the s has htf.