Have a great visit to London ! I reckon we should organise a Hive meetup in London sometime or other, with a SaturdaySavers sub-meet within it - I'm only a 40 minute train ride from the city centre 😁
After missing last week (hey, I badly needed some sun and a last-minute break in Spain beckoned...), I've done this week's post - @alonicus/saturdaysavers-club-progress-week-19-47
For this week's quiz.... I haven't bought any gold or silver yet, but they are the next thing I'll be adding to my portfolio. I'm still at the research stage, so while I've reached some conclusions, there's still a lot more I need to learn and I can't rule out that I've misunderstood some things so far !
The way I see metals is that gold is probably best to stack, mainly to take advantage of the quirk in current UK VAT rules which make investing in bullion VAT-free, while for silver you pay 20% VAT on every transaction which usually can't be reclaimed when you sell it. Premiums on silver also appear a bit higher than on gold.
When I do get some gold, I see it being split between two forms;
- Gold bars as a store of wealth. A long term investment because it'll take time for any price increases to absorb the premium.
- Gold coins as a last-ditch reserve if SHTF and I have to leave the country in a hurry or survive total economic collapse.
Something I'd avoid is companies who hold gold on your behalf (and even more so those that cook up some crypto gold/e-gold equivalent, however well they claim to secure it against tangible metal). It may seem convenient and reduce the need to invest in security, but when the tanks are on the street and the economy is collapsing like a house of cards, how likely is your gold to still be in a vault you've never seen, even if you can get there ? To mutilate a phrase we all use a lot; "not your gaff, not your gold".
Also.... I like to stack !PIZZA boxes 🤪