Physical possesion of gold/silver

I've never invested in precious metals (or much else) before, bit of a newbie
really, I do have a couple of questions though: What is the CGT rate for gold?
I may not be living in this country next year, I would assume that I'd pay no
tax when leaving and just declare the CGT in my new country of residence
upon selling?
What are the different options when buying gold bearing in mind
that I have no interest in owning the physical stuff, a certificate from a
reputable institution will suffice?
What is & why is there a better price for gold on a gold exchange?
Are bullionvault and goldcore offering the same service,
looked at both and i'm a little bewildered right now?
thanks
 
CGT is 25%.

If you are talking about Perth Mint certificates, they have a minimum investment. Most commentators only reccomend 5-10% or assets should be in gold. You don't want all egges in the one basket. Physical ownership of the metal is deemed to be more secure than paper certificate.

I don't know anything about goldcore, but bullionvault allow you to purchase as little as a gram of gold or a gram of silver to begin. If you signup, they will give you either a free gram of gold or a free ounce of silver.

Your bank account that sends the money to bullionvault is the only account that can receive money from bullionvault. This is an added security feature, in that if someone gets your password, the worst they can do is sell what you have and have funds transferred to YOU, not to them.

Do your own research, do not be pressurised by anyone - your wealth is yours and you do not want to lose it.

www.bullionvault.com/#saravima
 
Silver VAT

Yes gold is VAT free, but you will pay 20% VAT on silver if you withdraw it from a vault. Bullionvault.com also charge a 10% surcharge for withdrawing silver from a vault and I believe this 10% fee is common with other companies as well.
 
callybags said:
Do you have any back-up for this claim?

As far as I am aware there is no exemption to CGT for disposal of gold.
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There is CGT tax of 25% applicable on gold when you sell it for a profit. The Irish Revenue allow a €1270p/a tax exemption so while you have to declare it to revenue, you might not be liable to tax depending on your personal circumstances. There is no DIRT, stamp duty or VAT levied on any gold purchased throughout the EU.
 
Did anyone buy physical gold/silver coins from coininvestdirect.com? They are based in Germany and England and are cheaper than goldbank.ie
Kitco.com are priced the cheapest, but charge about €104 shipping since they are based in the US.
Any opinions welcome..
 
Thanks Chris.I just looked at their website and as I don't speak German, can you direct me to the English side of their website if they have one, or does a client just email them? Have you been happy and have no concerns regarding your interaction with them?

On another note,for those of us who know nothing about physical bullion, how does a buyer know for sure the gold/silver that is being bought is what we are sold? Is there a standard there that is a safe guard.Are certs supplied on purchase etc? Thanks.

Chris said:
I have used http://www.heubach-edelmetalle.de/ in Germany, their shipping costs to Ireland are reasonable, and so are their markups on gold and silver coins in small quantities. I have also used www.muenzland.com, also Germany based but I believe they only ship to Germany.



Absolutely not, only the € is legal tender. Try offering the Revenue some gold to settle your tax bill :)
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Hi Optimistic,

I was browsing http://www.heubach-edelmetalle.de/ and I have to agree with Chris that they were even cheaper than Kitco.com on most coins that I checked, and reasonable shipping rates as well. I used Google Chrome to translate the web pages into English and it translated perfectly. - Good luck
 
Thanks guys

Thanks for the reply. Now lets hope a non techie guy like me can do this :)
Are there any other things I need to be aware of when purchasing physical gold?


PatK said:
Hi Optimistic,

I was browsing http://www.heubach-edelmetalle.de/ and I have to agree with Chris that they were even cheaper than Kitco.com on most coins that I checked, and reasonable shipping rates as well. I used Google Chrome to translate the web pages into English and it translated perfectly. - Good luck
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I normally buy on bullionvault.com and I've only started buying gold coins recently, but if you order online and the package that you receive from DHL, etc looks like it may have been tampered with then refuse to sign for it. You could also weigh the package as soon as it arrives to check the gram weight is correct but I don't know if man people bother doing that.
 
I'm not so sure that gold is still 50% below its 1980 inflation-adjusted price - I think it is closer to 30%. Also, recall that gold was at that 1980 peak for all of three days. If you take the gold price from 1935 and adjust for US inflation in between, today's equivalent pric is circa $800. I remain positive on the gold theme but it makes sense to keep an eye on valu also. I enclose a link to a recent aticle I wrote on it on my own website.

[broken link removed]

Rory Gillen
 
Optimistic said:
Thanks Chris.I just looked at their website and as I don't speak German, can you direct me to the English side of their website if they have one, or does a client just email them? Have you been happy and have no concerns regarding your interaction with them?

On another note,for those of us who know nothing about physical bullion, how does a buyer know for sure the gold/silver that is being bought is what we are sold? Is there a standard there that is a safe guard.Are certs supplied on purchase etc? Thanks.
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As already suggested, Chrome or Google translate should do the job. I think you can order over the phone as well, and I would be surprised if there wasn't someone there that spoke English.
You have to make payment in advance by bank transfer, and they supply you with the IBAN and BIC. If you are a bit nervous about paying in advance then I would suggest starting with a small order.
I have no affiliation to the company other than being a customer.

To authenticate the coins you can start with measuring the dimensions and weight. For silver coins I also do the ping test (do a quick google search for silver ping test). There are also devices that can be used to authenticate coins and they range in price.
 
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