# Gold Bullion Coins and Capital Gains Tax



## Investor (19 Jan 2021)

Does anybody know whether I am right in thinking that apart from collectible commemorative proof coins issued by the Irish Central bank, which are consequently legal tender in Ireland—but are presumably pretty illiquid, and thus prone to high margins and sold at a significant markup to the spot price of the gold content—all gold coins purchased in Ireland by Irish tax residents (and in particular bullion coins like British Gold Sovereigns and Britannias and Austrian Gold Philharmonics, which I understand are legal tender in their country of issue only), are subject to capital gains tax?

In short, are there any widely-traded one ounce gold bullion coins available to buy in Ireland that are exempt from capital gains tax?

Thanks in advance for any answers.


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## Pugmister (19 Jan 2021)

Not that i am aware of......once the coin is not legal tender in Ireland then any gains are subject to CGT.

I was researching this not so long ago and was surprised to see that CGT extended to things such as precious metal watches also.


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## Acorn22 (9 Dec 2021)

Hi everyone, 
Does anybody know of any reputable and trustworthy company that will store gold in vaults in Zurich (outside the EU).  Goldcore store the gold in vaults in Ireland.  Thanks K.


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## 1dave123 (9 Dec 2021)

Hi 

According to their website Goldcore do store gold in vaults o/side the EU - including Switzerland. 






						Store Gold & Silver | Switzerland, Dublin, London, Frankfurt - Goldcore
					

GoldCore is a world leader in the storage of gold and silver in segregated and allocated accounts. Client bullion is available for fast shipment from our professional non-bank vaulting partners.




					www.goldcore.ie
				




_GoldCore has partnered with Loomis and Brink’s, world leaders in precious and valuable storage solutions, to provide fully insured storage services to our Irish clients across a number of international jurisdictions in Switzerland, Singapore, the UK, Ireland and Hong Kong._


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## Blackrock1 (9 Dec 2021)

Pugmister said:


> Not that i am aware of......once the coin is not legal tender in Ireland then any gains are subject to CGT.
> 
> I was researching this not so long ago and was surprised to see that CGT extended to things such as precious metal watches also.


one assumes to the extent that the metal has appreciated rather than the watch itself?


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## Acorn22 (9 Dec 2021)

1dave123 said:


> Hi
> 
> According to their website Goldcore do store gold in vaults o/side the EU - including Switzerland.
> 
> ...


Thanks I contact them again so.


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## time to plan (9 Dec 2021)

kingvagabond said:


> Hi everyone,
> Does anybody know of any reputable and trustworthy company that will store gold in vaults in Zurich (outside the EU).  Goldcore store the gold in vaults in Ireland.  Thanks K.


I've used bullion vault in the past. They're still going.


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## Pugmister (9 Dec 2021)

Blackrock1 said:


> one assumes to the extent that the metal has appreciated rather than the watch itself?


Not from my reading of the rules but open to correction on this. 

Not doubt revenue will be well aware of the profits being achieved on almost every previous metal watch at this stage. 

Grey market prices on the olive DD have climbed almost 20k in a matter of weeks with them now being advertised at €75k with multiple UK dealers. No doubt when the Tiffany 5711 goes to auction all other models will see another insane rise.


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## Blackrock1 (9 Dec 2021)

Pugmister said:


> Not from my reading of the rules but open to correction on this.
> 
> Not doubt revenue will be well aware of the profits being achieved on almost every previous metal watch at this stage.
> 
> Grey market prices on the olive DD have climbed almost 20k in a matter of weeks with them now being advertised at €75k with multiple UK dealers. No doubt when the Tiffany 5711 goes to auction all other models will see another insane rise.


they dont have to  be precious metal though, if for example you could buy a daytona at retail (or an aquanaut) you could triple or quadruple your outlay almost immediately!

The olive DD is a lovely watch if you can pull off the gold!


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## Gordon Gekko (9 Dec 2021)

There is the chattels exemption for things worth €2,540 or less (with some marginal relief).

But the whole watch thing is insane at the moment.

Even you can find someone who’ll sell you something like a Daytona at retail, they’re likely to insist that you buy something else as well.


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## Horatio (10 Dec 2021)

kingvagabond said:


> Hi everyone,
> Does anybody know of any reputable and trustworthy company that will store gold in vaults in Zurich (outside the EU).  Goldcore store the gold in vaults in Ireland.  Thanks K.


UBS & Credit Suisse for starters.

I don't understand. Why do you want the vault outside EU? You are still subject to Irish CGT if you are Tax resident in Ireland.


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## Acorn22 (13 Dec 2021)

Horatio said:


> UBS & Credit Suisse for starters.
> 
> I don't understand. Why do you want the vault outside EU? You are still subject to Irish CGT if you are Tax resident in Ireland.


Zurich is politically stable.


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## Horatio (14 Dec 2021)

Sorry I still don’t understand. 

Is it your position that contents of a vault inside the EU could be subject to  theft or seizure of its content in the event of social breakdown and that social breakdown is more likely in the EU than in Switzerland?


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