Where/How to buy Gold in Europe?
Chris offers some suggestions on where to get started with buying gold bullion in the United States, does anyone have any suggestion on where one would be able to buy gold coins in Europe?
this: http://bullionpage.de/ would be a good starting point.
Depends alot on where you are in Europe. But my local coin shops still sell, albeit with a big premium, gold coins.
What is on offer (here in Holland) are pre war 10 guilder coins (6 grams gold). They used to sell also krugerrands, eagles and mapleleafs, but these are all long gone. But now they sell more exotic coins, like 100 rubel (1/2 ounce) and golden Franks and Peso’s.
Maybe not your first choice, but gold non the less.
For silver, they most are one kilogram silver bars on sale. And, cheaper, junk silver in the form of pre 1967 guilders, 2,5 guilders and 10 guilders coins. They have 72% silver and weigh 6,5 15 and 25 grams per coin.
There are also several coin dealers online. Prakkenedelmetaal.nl and kevelam.nl come to mind.
This is the Dutch situation, but I guess it will be the same in other parts of the EU.
If and when you find some, please let us know as it can help others locate some real money.
Ps. My country hase some laws inplace that outlaws the personal posession of gold in a -goverment declared- financial emergency. So buying in person and paying cash is preferable. This way you don’t leave a paper trail to the gold. Also keep you stach of precious metals hidden and don’t show or tell to anyone. Maybe even in a bankvault for the time being. But get it out before any bank closures.
I have bought physical bullion using Bullionvault (http://www.bullionvault.com/). The gold is held in secure vaults in Zurich, London and New York, and physical delivery can be taken if preferred but not recommended as the bars would have to be assayed again as pure before being sold on the open market. They have a very comprehensive help page which discusses issues such as safety, privacy, access, commission prices etc. Gold can be bought in increments so a large outlay of cash at once is not necessary – which is helpful for the average salary earner.
Thanks for the pointers!
It seems that HBU.nl is also selling, well thats what they said this morning on the telephone. (I wonder why you didn’t name "HBU" because my bank directed me to HBU).
As of the two other references, do you have experience with them? (While following these references, I saw that "prakkenedelmetaal" cannot deliver. What do you think, will this be something we will see more when golddemand increases?)
BTW, I assume that we (NL) do not have a ‘government declared financial emergency’ at this moment. Correct? Can the government make such a declaration without approval of the (1e & 2e) chamber? And would it be independenly from the ECB?
Regards and thanks again.
I am also from the netherlands.
If the government would ask me: "where did you leave your gold, because you are not allowed to keep it"
Then i would say: sorry i lost it!
Anyway it is better to change money for gold. Also because then the tax office thinks that i have less money, and i dont have to pay taxes until a certain amount. They dont know about any of my gold.
Anyway it is possible to get physical gold in bars. In coins it is more difficult because the popular coins like Krugerand, mapleaf seem to have vanished.
and i am trying bullionvault.com because it spreads risks. I dont want to keep many gold in my home of course. And with bullionvault one could sell the gold quite quickly with some keystrokes. In real life selling of physical gold is more difficult to achieve in situations.
Then with bullionvault i would quickly get the money on my account if i need it.
My theory is that if i hold 1000 euro gold on my account and the euro would tank heavily (paper money!) to one tenth of its value, i would get 10000 euro on my account and it would like my personal situation would not have changed! Figure the Iceland people would liked have done before they got bankrupt! Now they cant buy gold anymore. I dont even mention Zimbabwe of course.
In Vienna, there’s Ogussa:
The first thing to do is to check your countries laws.
In Britain, making a huge profit when selling gold attracts Capital Gains Tax unless you are selling gold coins which are legal tender somewhere in the world.
I know that sovereigns are legal tender still in Britain and Krugerrands are legal tender in South Africa – or at least the one oz ones are.
Then google something like: Buy krugerrands in Britain – put your country here.
Does anyone know if the Bullionvault site is 100% safe.
I have bought gold here, but with so many stories on the web about buying Gold and then having the possibility in the future of it being either confiscated, or having the ownership of said Gold becoming doubtful, I am concerned that perhaps the ONLY way to hold Gold is under your own matress (figuratively speaking).
Anyway, I would appreciate if someone with some experience in this matter could comment.
By the way Chris, your site is exceptional, and it is very helpful to see so many different points of view on the forums. Thank you.
In the UK at the moment there is no CGT on Sovereigns or Britannias, but probably bacause of that they are very hard to get hold of and/or command large premiums over spot.
Does anyone have any suggestions on whether 10% premium on 2008 Sovereigns (the best I can get) is reasonable, or whether I’d be better off buying non-UK coins and risking CGT at some point in the scary future?
My other concern in the UK is that our Government has a history of retrospective changes to taxation, so I could pay the extra for Sovereigns then get hit on the CGT.
I’ve pondered this all for a couple of weeks and the price is going up all the time!