$200 gold coin price

Discussion in 'Gold' started by sellmeyourbullion, Jun 26, 2020.

  1. sellmeyourbullion

    sellmeyourbullion Active Member Silver Stacker

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  2. stackmans

    stackmans Member

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    Pretty dam good. I just bought 2 for $806 each postage included. Mine were proofs though.
     
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  3. mongrelmaple

    mongrelmaple Well-Known Member Silver Stacker

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  4. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    Great price. Aren't these subject to GST (ahem - no mention on Sterling)...?
    Ainslie:
    Screen Shot 2020-06-26 at 12.00.26 pm.png
     
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  5. President Trump

    President Trump Active Member Silver Stacker

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    I can recall being at school in the 80s and a kid had one that his parents brought for the commonwealth games. Then I was astounded that anything that small could be worth $200. Now I can’t believe you could buy one for only $800. A rum and coke is 8-9x more expensive!
     
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  6. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    No GST on bullion, the 200 isn't a bullion coin.

    To be precious metal, the object must be a metal of gold, silver, or platinum meeting a minimum fineness.
    A New Tax System (Goods and Services Tax) Act 1999 (GST Act) defines precious metals as:

    *gold (in an investment form) of at least 99.5% fineness
    *silver (in an investment form) of at least 99.9% fineness
    *platinum (in an investment form) of at least 99% fineness


    I like the $200 gold coins; from memory they were released prior to Capital Gains Tax in 1985 and as such,
    if you have proof of purchase there's no CGT for the those folk who have the original coin and original receipt prior to
    20 September 1985.

    All assets you’ve acquired since capital gains tax (CGT) started (on 20 September 1985) are subject to CGT unless specifically excluded.
    https://www.ato.gov.au/general/capital-gains-tax/cgt-assets-and-exemptions/#collectables
     
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