Your first gold purchase...

Discussion in 'Gold' started by tringoleeds, Aug 11, 2012.

  1. tringoleeds

    tringoleeds New Member

    Joined:
    Aug 8, 2012
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    1
    Location:
    Ming
    Hi,

    been lurking for a while and recently joined the forum - made my introductions on the UK forum a few days ago...

    I've been stacking for a month or so - 60oz silver and 1/4 oz gold...I like it, it's kinda fun :)

    So, as you may know, silver incurs tax at 20% in the UK and Im only looking to invest around 1000 - 1200 ($1600 - $2000US) a month on my new 'hobby'...

    Common sense tells me to stack gold because of the tax implications - but 1oz gold compared to 60oz silver is a tough decision....financially equivalent but 60 coins vs 1 coin adds an interesting dynamic...

    But I am leaning towards purchase of a 1oz gold coin - but undecided on what to go for...gold maple - .999 but talk of milk spots puts me off, gold eagle - not .999 but I kinda like the look of my ASE's and then you have a myriad of other 'pretty' coins such as the libertad...

    I think price and premium over spot will ultimately determine what I go for....but I was interested to gauge what other folks first gold coin purchase was and which coin, if any, stood head and shoulders above all others (not numis) with the understanding that gold is gold is gold...btw - i feel quite unpatriotic when I say I don't like the look of Brittanias (God Save The Queen etc - and we are kicking a$$ at The Olympics...kinda)...

    So, which coin was your first purchase?
     
  2. Diablo21

    Diablo21 Member

    Joined:
    Jun 22, 2011
    Messages:
    780
    Likes Received:
    0
    Trophy Points:
    16
    Location:
    Canada
    The milk spot issue is only with the Canadian silver bullion coins, I've never seen or heard of gold maple leafs developing milk spots.

    I have lots of silver numismatic coins but when it comes to gold, I buy the cheapest .999 bullion. I mostly buy 1 oz bars which have a smaller premium compared to coins.
     
  3. Gold Kiwi

    Gold Kiwi New Member Silver Stacker

    Joined:
    Apr 3, 2010
    Messages:
    529
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    NZ
    Milk spots are a problem on Silver Maples, not Gold Maples.

    When it comes time to sell, any of the internationally recognised 1oz bullion coins should be fine. I'd buy whatever has the lowest premium.

    I don't know about the UK, but in New Zealand gold bullion that is less than .995 fine attracts GST (VAT), so that rules out ASEs and Krugerrands.
     
  4. tringoleeds

    tringoleeds New Member

    Joined:
    Aug 8, 2012
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    1
    Location:
    Ming
    ...ahhhhh - thanks for the clarification on milk spots...I originally thought just a problem with silver but read on a forum that gold coins also affected...

    Lowest price is where I'll probably end up buying - i noticed that bars have a lower premium but they often come sealed and certificated...I'm kinda touchy feely type person :-S...and I'd like to hold the gold and with a bar I'd probably let it sit in said packaging...coins come 'loose' and are fair game...
     
  5. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,644
    Likes Received:
    1,502
    Trophy Points:
    113
    Location:
    Northern NSW
    This may be a dumb question, but can't you avoid tax by buying from o/seas, say from here?
    I have posted items o/seas in the past with descriptions like "machinery parts" or "medallions" etc.

    1 oz PM kangaroo
     
  6. tringoleeds

    tringoleeds New Member

    Joined:
    Aug 8, 2012
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    1
    Location:
    Ming
    @wrcmad - see, I'm new to this stacking lark...I knew there would be 'loop holes' to the tax thingme and joining the forum was a way of educating myself in how this was achievable...and making contacts to achieve this in a mutually beneficial way...

    I am very much in the market for machine parts and medallions...
     
  7. wrcmad

    wrcmad Well-Known Member Silver Stacker

    Joined:
    Jan 2, 2012
    Messages:
    6,644
    Likes Received:
    1,502
    Trophy Points:
    113
    Location:
    Northern NSW
    Just be sure to specify to the seller what description you want and check whether they are willing to do that before buying.
    From Aus to UK:
    Reg post 2kg around $53

    This is far less than 20%.....
     
  8. Photonaware

    Photonaware Active Member

    Joined:
    Nov 9, 2010
    Messages:
    1,125
    Likes Received:
    4
    Trophy Points:
    36
    Location:
    The Shires in England
    My first gold coin was a one ounce Britannia.
    Stunning coin especially if you can get a proof.
    Added more Britannias from tenth ounce upwards including proof sets.
    Currently stacking half sovereigns.
    Cheapest gold I have seen in the last few days are one ounce Krugerrands at 2% above London am fix.
    Pretty ugly coin but for bullion it trades very well selling for spot.
    With a spend of yours it might be interesting to place regular orders on Apmex or consider a group buy in Germany with 7% VAT for silver of course !
     
  9. Black_Sun

    Black_Sun New Member

    Joined:
    Dec 10, 2011
    Messages:
    1,031
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
    silver gets milk spots, and gold gets blood spots
     
  10. bordsilver

    bordsilver Well-Known Member Silver Stacker

    Joined:
    May 23, 2012
    Messages:
    8,717
    Likes Received:
    304
    Trophy Points:
    83
    Location:
    The rocks
    Black_Sun - I don't know whether you're taking the piss or not. Can gold suffer similar afflictions? I've had crappy finish on bullion gold (and crappy designs on proof coins ;) but no milk spot equivalents.
     
  11. Dogmatix

    Dogmatix Active Member

    Joined:
    Jun 22, 2011
    Messages:
    1,730
    Likes Received:
    14
    Trophy Points:
    38
    Location:
    Gaul (Australia)
  12. bordsilver

    bordsilver Well-Known Member Silver Stacker

    Joined:
    May 23, 2012
    Messages:
    8,717
    Likes Received:
    304
    Trophy Points:
    83
    Location:
    The rocks
    Holy Jeez! Even though I "know" it's all gold I'd be freaked looking at such a disfigured coin.

    Thanks. That is a very good thread. I'm surprised I missed it.
     
  13. Black_Sun

    Black_Sun New Member

    Joined:
    Dec 10, 2011
    Messages:
    1,031
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
  14. bordsilver

    bordsilver Well-Known Member Silver Stacker

    Joined:
    May 23, 2012
    Messages:
    8,717
    Likes Received:
    304
    Trophy Points:
    83
    Location:
    The rocks
    Far out! That's bloody horrendous! Blood spots is apt I feel. I'll be quite miffed if some of my oldies start bleeding.
     
  15. Eureka Moments

    Eureka Moments Well-Known Member Silver Stacker

    Joined:
    Oct 31, 2011
    Messages:
    7,079
    Likes Received:
    892
    Trophy Points:
    113
    Location:
    bosis
    ^^^^Stigmata?
     
  16. Black_Sun

    Black_Sun New Member

    Joined:
    Dec 10, 2011
    Messages:
    1,031
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
    Indeed. Christ was called a "King", and gold is the metal of kings, hence the copper stain is akin to "the blood of the king".

    And both milk and blood are very symbolic, and have been used as important symbols for millennia.
     
  17. Iain_Oakley

    Iain_Oakley New Member

    Joined:
    Jul 16, 2012
    Messages:
    18
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Sydney
    my first gold coins was a 1oz kangaroo from perth mint and a 1oz maple.

    gold is always the best option i personaly fell, i may be more expensive to purchase but return when price goes up is higher too.
     
  18. warrenworthingtoniii

    warrenworthingtoniii New Member

    Joined:
    Aug 3, 2012
    Messages:
    47
    Likes Received:
    0
    Trophy Points:
    0
    I'd go with gold. It's a sexual thing, especially at the start. :) A Maple is cool enough, it doesn't really matter much for the first time, just go with a low premium.
     
  19. Dogmatix

    Dogmatix Active Member

    Joined:
    Jun 22, 2011
    Messages:
    1,730
    Likes Received:
    14
    Trophy Points:
    38
    Location:
    Gaul (Australia)
    So you're saying the proportional return on gold is higher?

    I'd argue that in the shorter term, silver has had the higher proportional returns. It had a spike from $20's to $40's within a 12 month period, ending about a year ago.

    I don't even like silver much myself, but if my aim was to book in 'maximum' speculative nominal gains in the short-term, i'd probably go with silver.

    Unless you have a specific reason you think gold would outperform everything else in nominal terms of course.
     
  20. ancient

    ancient New Member

    Joined:
    Jan 19, 2011
    Messages:
    8
    Likes Received:
    0
    Trophy Points:
    1
    Location:
    Sydney, Australia
    1 oz Kangaroo or a 1 oz Lunar. maybe worth not completely discounting fractionals just to be close to the Spot as not everyone can afford a 1oz.
     

Share This Page