Gold Bullion Coins and Capital Gains Tax

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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.
 
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.
 
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.
 
Hi

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


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.
 
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?
 
Hi

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


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.
Thanks I contact them again so.
 
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.
 
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.
 
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!
 
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.
 
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.
 
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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