Hi, Daz here.
I’m writing this post as I’d like to share my experiences with you of trading in gold for cash.
Ironically, I started collecting gold coins when I had no money. I know it sounds strange, but I saved every spare penny I had from work, and each month I bought a small half sovereign from my local pawn shop. Back then you could get them for £50 each.
Over the following 5 years, I kept collecting. The more I collected, the more the price of gold seemed to increase.
In fact, I’m fed up of seeing the gold for cash adverts on tv.
Sovereigns were right for me to collect, as they are VAT exempt, and are Capital Gains Tax Free. In my case, those £50 half sovereigns are probably worth £135 now. I cannot be taxed on that £85 profit.
Easy money, I hear you say…Well yes and no!
Click Here To Find Out How I Got Started
Gold could have lost value (unlikey in a world of financial unrest), It was a risk I was prepared for. Secondly, they’re not making any more of it. By that, I mean that the mint cannot just print loads of paper money and pretend that it has intrinsic value. Gold is gold, and has a very tangible worth. Yes they are still mining gold, but they’re digging deeper deeper and farther for it, meaning the costs are higher.
The real profit nowadays is in Scrap Gold.
Most people have an odd earring, broken necklace or other trinket laying in a jewellery box doing nothing. These can be bought at almost give-away prices. This is how I got started in trading gold, and trading gold for cash.
Click Here To Find Out How I Got Started