Stacklets report in!
Stacklets report in!
Juan Morgan
Other urls found in this thread:
royalmint.com
twitter.com
Jack Lopez
In the UK you should only buy Gold Sovereigns and other legal tender coins. When you sell them, they are completely tax exempt (including capital gains tax) as they are considered currency.
Nathan Rodriguez
Good morning fellas!
Josiah Davis
Good tip, although I am not British or in Britain so this doesn’t apply to me.
David Jones
I actually left a few coins out of the picture.
John Hill
Zachary Kelly
Still, it looks so tiny especially when I pack it up :/ Work in progress.
Jackson Torres
I plan on buying the exact same gold coin you have there next payday. The gold KOMSCO medallion in my stack is actually the cheapest fractional gold available to me for the weight, but I want an actual coin
Brody Allen
You manage to be in almost literally every /pmg/ thread!
Gavin Nguyen
Why a sovereign over a fractional ounce of gold like 1/4oz?
Cooper Evans
Pretty sure sovereigns are themselves fractional (slightly under 1/4 oz).
Dominic Smith
>Good tip, although I am not British or in Britain so this doesn’t apply to me.
Why do you have British money?
Leo Thompson
They're not pure gold though, right? I thought they were 22ct?
Owen Martin
Curiosity, and it stops me spending my cash as easily if it’s in a foreign currency.
No, but they still have just under 1/4 oz of gold all the same. The total weight is probably just over 1/4 oz, because of the other metals.
Jason Anderson
So what would be the advantage of a sovereign over a quarter ounce then? Is it price related? Liquidity? Gold nooblet here so just trying to learn.
Levi Hall
He explained why, in the UK legal tender Royal Mint coins aren’t taxed the way gold coins from other countries are.
Lincoln Nguyen
Oh wait I didn’t read your question carefully. Sovereigns are basically 1/4 oz coins. They apparently have 0.2354 oz of gold in them, so whether to buy them as opposed to 1/4 oz Gold Eagles or whatever is essentially a matter of personal taste and preference.
Jonathan Moore
Aren't all gold coins exempt in the UK from capital gains? I checked HMRC just now and they all seem to be.
Jonathan Stewart
Ah, okay. That clears things up a bit, cheers!
Blake Baker
Hmmm...
royalmint.com
> The good news for bullion buyers is that legal tender is exempt from CGT in the UK, meaning that coins such as The Sovereign, Britannia, Lunar and Queen’s Beasts do not attract the tax in the UK. This exemption applies regardless of the profit made on the purchase and sale of bullion coins in any quantity and over any time period. Royal Mint Bullion also offers international bullion coins such as the Canadian Maple and the Krugerrand. Because these coins are not legal tender in the UK – they are not CGT exempt.
Jaxon Reyes
Apologies, I meant all UK gold coins exempt in the UK. But yes, that part from the Royal Mint matches what HMRC says.
Xavier Martinez
Gold Britannia. Any gold coin that's legal currency in the UK.
Any other gold coins, like the saffa one are not legal tender, and as such are subject to capital gains tax when sold.
Honestly, it's not much of a big deal paying capital gains. If you want to cash out more than 100k of gold, you'd probably spend the capital gains money on the premium for buying legal tender.
I have a few Britannia, but I've just started buying normal bars now. Couldn't give a fuck. In 40 years time when I need to sell them I'm hoping it's surpassed any amount of me giving a fuck. I'll be retired and possibly in another country, so the legal status of gold tender probably won't matter. Gold coins are very good if you cash out every year tho
Ryder Hill
>Why a sovereign over a fractional ounce of gold like 1/4oz?
Myself, I would likely buy gold 1 ounce Britannia's. Though Sovereigns are nice little denomination coins. Any of the coins considered currency in the UK I would buy, whatever is priced closest to spot price.
Xavier Morris
No, just a few coins such as Britannia's and Sovereigns. Some others too. Certainly not foreign coins.
Lucas Phillips
Hey Faggots, My name is Peter Zeihan, and I hate every single one of you. All of you are fat, retarded, no-lifes who spend every second of their day looking at stupid ass coins. You are everything bad in the world. Honestly, have any of you ever gotten any pussy? I mean, I guess it’s fun making fun of people because of your own insecurities, but you all take to a whole new level. This is even worse than jerking off to pictures on /pmg/. Don’t be a stranger. Just hit me with your best shot. I’m pretty much perfect. I was head geopolitical strategist at Stratfor, and stared my own consultancy where I analyze the realities of geography and populations to deepen the understanding of how global politics impact markets and economic trends. What demographics do you Analyse, other then 'how many people in the population own shiny rocks"? I also get invited to conferences all over the world, and have a banging hot anime girlfriend (She just blew me; Shit was SO cash). You are all faggots who should just kill yourselves. Thanks for listening. Pic Related: It’s me and my bitch
Bentley Long
How can you apply capital gains if no one knows when you initially bought ta 1 oz gold maple?? Live in Canada
Dylan Mitchell
Without a receipt for the initial purchase, they will consider the total amount profit.
Andrew Gutierrez
Muh freedom
Luke Carter
Source?
Matthew Brooks
That is how I understand it for investments in the UK, as well as expenses for income. Receipts are needed otherwise the cost cannot be counted against the proceeds.
Nicholas Gray
There are some grey areas for people that buy from car boot sales, a lot of those people just write a note of the date and price paid etc. But even then it is not technically correct.