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Post by sannytwist on Aug 16, 2018 14:56:15 GMT
Hi, been rather pessimistic at the short term view of the p2p market with most of my funds being pulled out and now my funds r looking for a home. Most likely l'm looking to dip my toes into the precious metals area with what l personally think is some value. However, not looking to own the physical metals asset with the associated pros/cons.
Does anyone here invest into any precious metal etf's or alternatives?
Any opinion would be appreciated.
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Post by Butch Cassidy on Aug 16, 2018 16:00:43 GMT
Just bought some silver bullion for medium to long term hold as price charts look pretty good, buying from a retail source incurs 20% VAT (in UK) so better buying privately/second hand as the seller has already taken the hit but just to ride the price you can buy Silver/Gold/Platinum from Royal Mint (& several other private firms) & as long you hold with them via their secure vault, for a small annual fee, no Vat is due (none is due on Gold & platinum anyway). You can hold bars or coins & certain coins such as Britannia's, Sovereigns are also CGT free which is useful if you anticipate high returns.
You can of course buy contracts for difference or futures if you just want a short term punt on the price movements but I prefer the physical asset.
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Post by flobberchops on Aug 16, 2018 16:12:36 GMT
If physical metal is your thing, worth noting you can sidestep VAT on silver if you buy it from outside the UK. For example I recently used Goldcore (an Irish company) to buy silver Britannias VAT free (and as they're UK coins with a face value, they're CGT free too). They sell at a small premium above spot price, naturally, but you get free postage if you order over a grand's worth. I have no stake in this company, financial or otherwise, I hasten to add! I am however a happy customer of theirs.
For physical gold, the best bullion-quality rates on coins I found was Hatton Garden Metals, which happily is just a short underground trip from where I live in London. I can also recommend them.
I buy precious metals with no real long-term strategy, let alone an expectation that they'll appreciate in price enough to be a better investment than stocks or even cash. My portfolio needed diversification, that's my excuse!
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registerme
Member of DD Central
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Post by registerme on Aug 16, 2018 16:41:36 GMT
I'm pretty sure there are a few precious metals ETFs out there.
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Post by GSV3MIaC on Aug 16, 2018 17:20:59 GMT
There are loads of ETFs, infact ten or 100 times the actual amount of precious metals in existence are being ETF traded. Draw your own conclusions what will happen if you want actual delivery (or anyone does). Lots of extra wrinkles in terms of counterparty risks, and whether the fund actually has any assets, or whether it lends them out if it does. The upside is no storage issue, beyond the normal fees (which reminds me, CSD just jacked theirs up).
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