Gold Bullion

[DL.]

I heard on the radio this morning that the Greeks are buying gold due to their financial uncertainty. I suppose that's why it's referred to as the "asset of last resort".

After the state of the banks in this country, and a sizeable national debt I wonder if it's not quite a sensible thing to have on the back burner.

At £1000 an oz, it's not easily affordable though.

[johngarnett]

You don't have to buy an ounce of gold at a time, ie a Brittania, Krugerrand coin or an ingot. You can get gold 1/2 Sovereign coins from £120 approx, £230 full Sovereign or gram pieces.
More to run your fingers through!
Lay it down come the revolution!
JohnG

[DL.]

I suppose if money was worthless, you could exchange it for petrol/medicine.

http://www.thegoldbullion.co.uk/blog/gr ... gold-price

[Ovenpaa]

Are you allowed to bring Krugerrands into the country now, they were banned for a while.

[dodgyrog]

I just keep accumulating lead, does that count?

[Ovenpaa]

Are you practising alchemy in your spare time Rog?

[johngarnett]

Ovenpaa
Re import of Krugerrands - I'm not sure if you can import yourself. Probably a limit. Think of the paper work that could create! Think of the possible unpleasant search procedure at customs :shock:
There is a limit above which a bullion dealer has to report a transaction to Revenue and Customs. I think it is £10k. Money laundering 'excuse', Oh! sorry, 'reason'. Cynic that I am!
If you buy from a bullion dealer there is no problem having them, and better still, no VAT is payable on 'currency' gold coins.
I don't think household insurance is to keen on lots of shiney stuff around but it's no fun in the bank!
Have fun
JohnG

[dodgyrog]

Are you practising alchemy in your spare time Rog?

Anything to turn a buck!