Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

The Best Ways to Invest in Gold Today

IMG Auteur
Published : March 20th, 2017
697 words - Reading time : 1 - 2 minutes
( 1 vote, 2/5 )
Print article
  Article Comments Comment this article Rating All Articles  
[titre article pour referencement]
0
Send
0
comment
Our Newsletter...

– The cost of buying and selling gold
– How to buy gold on the cheap
– How to avoid paying capital gains tax (CGT) on your gold
– Open an account with one of the online bullion dealers – the likes of GoldMoney, GoldCore or Bullion Vault
–  Gold Sovereigns and Gold Britannias make for a considerable saving on cost because of the CGT exemption

Gold Britannias and Sovereigns are free of Capital Gains Tax (CGT)


Dominic Frisby
has looked at the best ways to invest in gold in the UK’s best selling financial publication Money Week.

Frisby looks at the various ways to invest in and own gold and points how gold ETFs are not much cheaper than online gold bullion dealers such as GoldMoney, GoldCore or Bullion Vault and yet there is the difficulty of taking delivery which is “cumbersome.”

The other important consideration when investing in gold is to consider the tax implications and the capital gains tax (CGT).

Buyers of gold ETFs and digital gold through e-gold providers like Bullion Vault and GoldMoney are subject to capital gains tax. However buyers of Gold Britannias and Gold Sovereigns are not subject to this expensive tax:

Competition between ETFs and bullion dealers has conspired to drive down prices, much to the benefit of the consumer. But there is one huge cost that neither of these methods is able to avoid – tax. This assumes you’re not buying your gold via an ISA or a SIPP, which it is, for the most part, possible to do via ETF or bullion dealer.

Capital gains tax (CGT) currently stands at 20% in the UK for higher rate taxpayers and 10% for lower. Funds don’t pay CGT. It is paid by the investor when they sell or redeem, assuming they made a profit. It kicks in once you have made profits of more than £11,100 in a year (£11,300 from next tax year).

So over and above that level, you’re facing an unavoidable 10% or 20% cost for buying and selling gold at a profit. It used to be 18% or 28%. We have George Osborne and his team to thank for lowering it – but even at current rates, it’s a considerable dent to profits.

There’s another method of buying gold (and silver), which, quite legally, avoids this cost altogether. There is a slightly higher premium to spot when you buy, there are slightly higher storage costs, and there is a slight discount to spot when you sell – but we are talking about a few per cent here, nothing like 20%.

Given the potential savings involved, it’s surprising that more UK investors don’t buy their gold and silver in this way. The method I’m describing, if you haven’t already figured it out, is to buy sovereigns and Britannias.

Frisby concludes the piece by pointing out how GoldCore offer capital gains tax (CGT) free gold sovereigns and gold britannias and how Frisby likes GoldCore:

“I like Goldcore. You can deal with them either over the phone or open an account online. You can buy sovereigns, Britannias, bars and probably even bells, and they’ll take care of the storage too.”

Access the Article On Money Week here

Gold Prices (LBMA AM)

20 Mar: USD 1,233.00, GBP 993.92 & EUR 1,146.57 per ounce
17 Mar: USD 1,228.75, GBP 991.85 & EUR 1,140.53 per ounce
16 Mar: USD 1,225.60, GBP 998.74 & EUR 1,143.24 per ounce
15 Mar: USD 1,202.25, GBP 986.69 & EUR 1,132.04 per ounce
14 Mar: USD 1,203.55, GBP 992.33 & EUR 1,130.86 per ounce
13 Mar: USD 1,207.80, GBP 989.79 & EUR 1,132.07 per ounce
10 Mar: USD 1,196.55, GBP 983.56 & EUR 1,127.15 per ounce

Silver Prices (LBMA)

20 Mar: USD 17.23, GBP 13.92 & EUR 16.03 per ounce
17 Mar: USD 17.40, GBP 14.08 & EUR 16.21 per ounce
16 Mar: USD 17.46, GBP 14.21 & EUR 16.28 per ounce
15 Mar: USD 16.91, GBP 13.87 & EUR 15.92 per ounce
14 Mar: USD 17.00, GBP 14.02 & EUR 15.99 per ounce
13 Mar: USD 17.02, GBP 13.92 & EUR 15.95 per ounce
10 Mar: USD 16.89, GBP 13.91 & EUR 15.92 per ounce

Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All
<< Previous article
Rate : Average note :2 (1 vote)
>> Next article
Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth.
WebsiteSubscribe to his services
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Can a government surplus cause the economy to tank?
18 Auggfs543
Your dissection is incisive, Steve. You weren't refuting just this one writer. You were beating up on popular Keynesian fallacies.
Can a government surplus cause the economy to tank?
17 AugDRGEORGE
Thank you very much for that Steve. But please just don't 'leave it there'. The author of that article apparently intends to expand on that bullshi...
Smoke and Fire
16 Augaccording0
some things happen without collusion do you think that the stupid little rats of blm and antifa dont get paid to help wreck our socie...
Smoke and Fire
16 Augaccording0
James. Even a believer has to leave Zoar before he starves to death. Kudos for having the fortitude to write this.
The Folly of Democratic Socialism
16 AugFalconflight
It this Amerika, I reference it as Krony Socialism.
Stock Market Correction Hasn’t Begun to Begin! It Will (And North K...
16 AugJ.
This bubble has been deemed TBTP (Too Big To Pop). Central banks have outright said in public that they will do "whatever it takes" to prevent it....
GM Tests Fleet of 46 Robocar Taxis in SF: Driverless Car Timeline P...
15 AugDRGEORGE
Correct, correct, correct. And insurance will indeed be the major driver to widespread adoption. But why do I get aggressive scepticism or blank lo...
Smoke and Fire
15 AugThe Recusant-1
Before relegating every demonstration, anti-Trump action, and political headline to some conspiratorial element of the left, you might want to just...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS