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Buying a gold sovereign? watch

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    I have some spare cash that I don't need but not enough to open a new high interest current account with. I sort of want to buy a gold sovereign (£900ish) but there's been a bit of a surge in the price of gold over the last week and now may not be the best time to buy. I think it'd be a nice thing to have, and if in 3 years it has only kept its value I won't be disappointed. Worth the risk? Pointless extravagance?
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    (Original post by Isklar)
    I have some spare cash that I don't need but not enough to open a new high interest current account with. I sort of want to buy a gold sovereign (£900ish) but there's been a bit of a surge in the price of gold over the last week and now may not be the best time to buy. I think it'd be a nice thing to have, and if in 3 years it has only kept its value I won't be disappointed. Worth the risk? Pointless extravagance?
    You're inexperienced enough to be asking a student forum for investment advice... yet are trying to time the market with your purchase?

    No-one here can tell you if it is a good investment or not as no-one here can accurately predict what the cost of gold is going to do over the next 3 years.

    Certain members may claim to be precious metals experts however the last time we ran the figures it showed they would have made considerably more money if they just stuck to a bog standard index fund instead.
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    (Original post by Reue)
    You're inexperienced enough to be asking a student forum for investment advice... yet are trying to time the market with your purchase?

    No-one here can tell you if it is a good investment or not as no-one here can accurately predict what the cost of gold is going to do over the next 3 years.

    Certain members may claim to be precious metals experts however the last time we ran the figures it showed they would have made considerably more money if they just stuck to a bog standard index fund instead.
    I'm not asking for investment advice, just wondered what people thought about buying a sovereign. I've bought it now anyway.
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    (Original post by Isklar)
    I'm not asking for investment advice, just wondered what people thought about buying a sovereign.
    So.... asking for investment advice. :rolleyes:
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    (Original post by Reue)
    So.... asking for investment advice. :rolleyes:
    No, I asked for general opinions not financial or investment advice. As I say, I've bought it now but I'd still be interested to know what people thought. I'd also quite like to buy a silver coin just because they're cheap and look pretty but not sure if it'd tarnish. Any coin collectors out there?
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    (Original post by Isklar)
    I have some spare cash that I don't need but not enough to open a new high interest current account with. I sort of want to buy a gold sovereign (£900ish) but there's been a bit of a surge in the price of gold over the last week and now may not be the best time to buy. I think it'd be a nice thing to have, and if in 3 years it has only kept its value I won't be disappointed. Worth the risk? Pointless extravagance?
    if you've got £900 it better to buy a britania and do get a new one go to a pawn store (big names like h and t) my local branch always has coins beit a case on a package down to single coins a wise move if your into the style is to buy say a sovvy ring so you get to wear your investment and the pre-33 often have a better collectable value than the newer coins mainly bullion value only

    trust me these stores are legit i have got a quarter ounce panda, 10 vicky sovereigns and a gifting maple to my closest friend along with a pocket watch and some items for my own collection
 
 
 
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