Purchasing gold - which companies should i choose?

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Endru's picture
Endru
Status: Member (Offline)
Joined: Jun 9 2011
Posts: 6
Purchasing gold - which companies should i choose?

dear all,

I would like to purchase gold that is stored in a secure vault.  What would be a good choice for a UK resident?  I dont want o take physical possession at this stage but would become an option in the future.  I am not a tax knowledgeable person either. 

Is physical possession a good choice?  Also should i consiuder silver?

thank you for your time and suggestions

Endru (1st post)

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1513
Gold & silver

Welcome to the CM site Endru!  I have a few things to share to help you, but your location in the UK makes me feel a little uncertain about differences and similarities.  It will be up to you to take the things you read/hear and do whatever addtional due diligence you need for your particular situation.

1. Read the What Should I Do? section here entitled "Protecting Wealth" (#7).

2. I got a tremendous benefit from reading Mike Maloney's book Rich Dad's Guide to Investing in Gold and Silver and made my first purchase from his goldsilver.com.  He ships internationally, has his own storage facility in Nevada and can put you in touch with depositories in UK and Europe.

3.  Check out the "Forums" section, "General Discussion and Questions" and scroll down the list of threads for any that might be of interest to you.

4.  Personally, I'm invested in gold AND silver (that's what I call a "balanced portfolio"!!).  There are advantages and disadvantages to each.  One I like about silver is the possibility of using it to make essential purchases during a temporary worst case scenario in which your fiat currency becomes worthless for purchases.  If you purchase silver for that reason, then it won't do to have it secured in a Swiss bank or any other remote location. You'll have to be able to get to it quickly and easily (that means home or some other nearby place - but I'd stay well away from all banks as the worst case scenario may involve banks being closed for extended periods of time, and government confiscation/nationalization of gold/silver which would most easily be accessed by the govt. at banks).

5. Go to goldshark.com for a list of dealers based on their Better Business Bureau rating and costs.

6. If you are going to store any precious metals at home then you need to be very well prepared to thwart crime.  I have two posts in the "What Should I Do" section of this website that address this issue which you may find helpful.

 

 

jumblies's picture
jumblies
Status: Silver Member (Offline)
Joined: Jun 13 2010
Posts: 244
Personally I use

Personally I use BullionVault who I find to be very good (so far).

 

Endru's picture
Endru
Status: Member (Offline)
Joined: Jun 9 2011
Posts: 6
Buying gold

Hi,

Is the website Suissegold.ch a good place to buy and store?

Thanks again
Endru

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