Making investments in gold has been popular for hundreds of years, as gold has always been a valuable commodity, more so than paper money, which can fluctuate in value during economic crises. However, with so many gold options available for investment, it can be difficult knowing which gold to buy and invest in.
Certain gold options are better suited for specific investors, so it’s important to know which type of gold product you should invest in. From gold bars and gold coins to gold jewellery, there are suitable options available for every investor, you just need to know where and when to buy your gold.
This is where we come in at Gold Investments, as we can assist you with your gold investment portfolio. We offer expert and helpful advice to every client wishing to make an investment in gold, helping you find the right gold product for your needs.
Plus, on our site, you can see the live prices for all our gold products, so you can see exactly how much a certain gold product is worth at the time. Live prices help you lock in your gold investment at the best price point, ensuring you make a solid investment.
So, if you are interested in making an investment in gold and wish to know more about which gold to buy, read on.
Are Gold Coins Taxable?
When you are making an investment in gold, you will obviously wish to keep the price as low as possible – the less you pay at purchase, and the more the gold is worth, the higher the rate of return on your investment.
One of the most significant costs on any purchase, and something you will need to look out for when buying gold, is the amount of tax you pay. If you end up paying tax on your gold purchase, you will need to wait for your gold value to rise higher than the amount of tax you paid in order to see a return on investment.
This is why it is always best to purchase tax free gold when possible – yes, certain gold investments are exempt from VAT in the UK and also capital gains tax free due to their status as legal tender. If your gold coins are classified as investment or bullion gold, they will be exempt from VAT. There are specific guidelines in place for this, which include:
- Gold of a Purity Not Less Than 995 Thousandths of a Weight Accepted by Bullion Markets
Gold Coins Minted After 1800 that:
- Are of a Purity of Not Less Than 900 Thousandths
- Is/Has Been Legal Tender in its Country of Origin
- Is an Investment Gold Coin as Specified in Notice 701/21A Investment Gold Coins
Additionally, if you purchase The Royal Mint’s Sovereign and Britannia gold coins, these will be capital gains tax free due to their status as legal tender. Since all gold coins in the UK are produced by the Royal Mint, and are considered legal tender, almost all British gold coins are capital gains tax free.
What Gold Coins are the Best Investment?
So, now you know a little more about the tax rates for gold coins, you might be interested in purchasing some gold coins for your own investment portfolio. But what gold coins are the best investment?
As mentioned above, almost all British gold coins, produced by The Royal Mint, are not only VAT free but also capital gains tax free. This means that these gold coins are available at a lower entry point, as you won’t be paying a large sum on VAT and capital gains tax. If you remember earlier, the lower your initial investment, and the higher the gold’s value, the greater your return on investment.
As such, if you pay out less on purchase due to zero VAT or capital gains tax costs, you can see a higher return on your initial investment.
So, when making an investment in gold coins, it is recommended to choose a gold coin produced by The Royal Mint, so you avoid the large VAT and capital gains tax costs. These would be the Sovereign and Britannia gold coins, and we have a selection of these gold coins for sale on our site. These gold coin options include:
- ¼ oz Gold Britannia
- 1/10 oz Gold Britannia
- Sovereign (Various Dates)
- Sovereign (2022)
- 1 oz Britannia (Mixed Dates)
- 1 oz Britannia 2023
When to Buy Gold Coins?
You should now know more about which gold coins are VAT free and capital gains tax free and have a better understanding of which gold coins sets make the best investment. Now you might be ready to make your gold investment purchase and find yourself wondering “when is the best time to buy gold coins?” Well, this is something we at Gold Investments are here to assist you with.
You might remember that we mentioned our live gold prices earlier. This is a live tracker that shows the value of gold, in relation to the US Dollar, at the most up to date value. It tracks the fluctuating value of the US Dollar in real time and converts this into the current value of the specific gold coin, giving you the most up to date price point for the gold coin.
By using this live price tracker, you will be able to see how strong the US Dollar is on the financial market, and how this translates into the gold coin’s value. This can help you decide when to make your gold coin investment, as it helps ensure you can lock in the best possible price for your gold. Remember, if you pay less on purchase and your gold’s value then rises, you can see a rise in the return on investment.
Where to Buy Gold Coins?
If you are now ready to buy gold coins for your investment portfolio, you need look no further than Gold Investments. We are one of the oldest gold bullion dealers in the UK, and we have many years of experience in assisting all investment clients with their gold purchases.
We are a team you can trust with the buying and selling of your gold, as our team boasts over 40 years of knowledge and experience. Our team will be on hand to offer expert and helpful advice regarding our gold coins should you need it, and we always ensure our clients make the right purchase for their needs.
Check Out Our Gold Investment Options Today!
So, if you are interested in making a gold investment, you need only get in touch with us at Gold Investments today. Our experts will be on hand to offer expert advice at every turn, ensuring you make the correct gold investment for your needs.
To find out more and to buy gold coins from us, give us a call on 020 7283 7752 and we will be happy to assist. Alternatively, fill out our online contact form or send an email to [email protected] and we will respond shortly via your preferred method of contact.