Swapping Silver for Gold

S

Shamatti

Member
I couldn't decide if this should be in the silver or the gold forum - I don't know what the rules are on cross posting..... Move if required admins! :)

So!

To cut a very long story very short, I have to get rid of some silver. I would swap it for gold preferably, perhaps for bitcoins if the price could be negotiated.

Questions:

1) Gold Silver Ratios are not in my favour. I don't understand these brilliantly well, should I wait for them to improve? I have until the end of March....
2) Is it better to sell and buy, or to do swaps online? Or with a metals trader?
3) Bitcoins? Or should I stay with precious metals?
4) What to swap? I don't really want to get rid of any of my stack. I have a pretty well balanced mix of bars and coins. What do people prefer to swap?
5) If you were flying overseas with silver - would you trust hold baggage? on British Airways? I don't think I can trust them?
6) Is it better to travel with coins or bars?

I am lost because I am being forced in to this through reasons beyond my control. This is affecting my judgement, I think!

Thanks for any advice you can give me.
 
If you are travelling with BA then are you travelling to the UK ?
I assume you are looking to trade your metal otherwise why bring it.
Gold is free of tax and VAT but silver requires tax to be paid of 20% unless it is below a personal gift allowance.
I would doubt PMs stored in hold baggage would be covered by insurance - check the small print.
 
Personally, I don't think swapping gold for silver right now is a good choice. It would be better the other way around.

Why would you want to get rid of your PM's for digital currency like Bitcoin?

If you are willing to travel with PM's, especially if internationally - make sure you learn about the laws of countries where you travel to and from.
 
Photonaware said:
If you are travelling with BA then are you travelling to the UK ?
I assume you are looking to trade your metal otherwise why bring it.
Gold is free of tax and VAT but silver requires tax to be paid of 20% unless it is below a personal gift allowance.
I would doubt PMs stored in hold baggage would be covered by insurance - check the small print.
Click to expand...

See my other thread. I am forced in to returning home to the UK. I don't want to get rid of or trade anything. But I am forced in to it by my circumstances.
 
Why don't you consider storing it in a private vault until you return?

Pretty sure you'll get taxed for your silver. So your best bet is to convert them into gold that won't attract any CGT in UK.
 
Altima said:
Why don't you consider storing it in a private vault until you return?

Pretty sure you'll get taxed for your silver. So your best bet is to convert them into gold that won't attract any CGT in UK.
Click to expand...


That's the sad thing. I won't be returning, other than perhaps for the occasional holiday! :(

Just working out the best of my bad options. :/
 
Ag-man said:
Bite the bullet, cash it in. No tax payable, no risk or insurance issues. Spot has risen over $1 in the last week.
Click to expand...

Good idea, and use the money to start again, or perhaps use the Aussie money to order from the UK and pickup on arrival.
 
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