Buying Physical Gold

They charge storage fees, so all you really have is a piece of paper that says you own x amount of gold...the same as owning shares in companies that will actually make you more money.

If you take personal ownership of the gold, you are running an increased risk of being robbed and your gold being taken...and have no bank guarantee.

It will also be more difficult to sell as it hasn't been stored securely.

And all the time the lump of metal is raking up storage fees it isn't generating any income for you, just costs.
 
You don't need to pay any storage fees for physical gold, the bullion itself is tiny or get a couple of coins you can put in a (safe) jar either. I've bought from bullionbypost in the past during Covid and it was a very straightforward process. No idea how easy it is to sell back though, which I've been meaning to do for a while but continue to sit on it while prices skyrocketed.
 
The trouble with selling starts if you don't have a certificate for the bullions proving that they are really made out of gold. The buyer will force you into a test- and charge for it. Good storage is crucial- any tiny scratch will bring down the value- you have either "B" quality or just a piece of gold and no coin anymore. Discolouring due to bad storage is another problem which brings down the value of the coin.
Coins or gold itself really only make some profit if you keep it for a long time- like 10 or more years- and sell it after a long time.
 
Snipersham said:
Nothing, I don't want a lot of my funds sitting in the banking sector so have asked this forum their experience and cheapest way of buying physical gold because I don't have confidence in the guarantee.
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You currently have cash on deposit only? It seems like a strange leap to go from not investing, to investing in direct commodities.
 
The ones I have arrived in a sealed plastic case with the certificate attached inside - it's nigh on impossible for them to get damaged or discoloured unless you take them out of this which I haven't for the reasons you've outlined.
 
Since 2007, Gold has barely beaten inflation (that's as far back as the software goes with its records of CPI)
 
I have my own (strong) opinions on gold and I’ve always found the debate on the utility of gold tends to bring out strong opinions in others!

Maybe just try to help the OP with the question?
 
Dr Strangelove said:
I have my own (strong) opinions on gold and I’ve always found the debate on the utility of gold tends to bring out strong opinions in others!

Maybe just try to help the OP with the question?
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Exactly. Gold isn't an investment per se, it's merely a method of diversification (psychological or otherwise!).
 
And they didn't say they were only buying gold. They said they have decided to move funds into various other assets.
 
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Snipersham said:
Hi I was wondering if anyone has had experience of buying physical gold from the likes of Bullionbypost, merriongold or goldcore.
How was the process?
Is there a cheaper alternative to buy the physical product?

Thanks in advance
Snippy
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I don't know why anyone would choose gold as an investment but goldcore are good to deal with, I bought five Krugerrand in 2010 and sold them in 2012 , pointless exercise really even I gained circa 30%

Goldcore also allows purchase through the Perth mint which avoids physically holding it
 
Gold is probably a safety hold, in the event of everything else going belly up. There is no income from it. However, an ounce of gold in the time of Julius Caesar would buy a nice suit and today, an ounce of gold would do the same. It possibly holds its value.
 
Book a flight to Dubai. You cm buy gold at the airport in a variety of forms (bars, coins, jewelry)
You must declare at customs if it is over 10K euro, but apart from that, no bother.
 
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