What's up Hivers
In today's blog, I wish to talk about which is in my view very important personally view.
Does buying Graded Silver or gold be worth more than not having it done?
So let's start with this from a point of view, so let's say that I have 2x 1oz Britannia of the year 2022 which I have bought for the total price of £59.40.
SOURCE: BullionByPost
So let's head on over to NGC and look at their services and fees and let us look at their chart (Bearing in mind it is done in the currency of GBP)
SOURCE: NGC UK
As you may see that I highlighted the Standard option as which we are going to take despite the maximum value of £2,500 and not forgetting that
- Each coin will be worth £45 each to grade.
- It will both take 45 days or more pending on its completion
So with that done, so as it stands the cost would be £149.40, and when it comes to selling it that are numerous factors for me to look into because if you sell it on eBay, the likeliness of it that some of the money that you would have made would be taken as fees from both eBay and Paypal
Also, another factor is the type of grade of the coins with the highest number being the best and the lowest being the worst.
Thirdly, If we come to sell over Silver or our Gold at any price, we must "AVOID" high comission fees at all costs in order to get more money in return, which I recommend some forums or marketplaces.
Such as https://www.thesilverforum.com
And lastly, (And this is a major advantage) If you are a resident living in the United Kingdom and you have a bullion coin in your collection and wish to sell anything, you would have no problem at all, because Britannia, Sovereigns & The Queen Beasts are bullion and they come under the Capital Gains Tax Exempt or CGT for the short, which it means that you will 'NOT' have to worry about declaring it if it is a profit or a loss when selling any bullion and other words you can make an unlimited tax-free profit from each and every bullion coins you buy.
PERSONALLY IN MY VIEW
Personally, for me, I feel like this is a very important game-changer for the residents of the United Kingdom where people can tap into the power of bullion where people can a huge amount of profits.
And on the other side, I do feel it is kinda bad with high fees when placing the listings on eBay as well.
NGC is a good source if anyone would like to grade their Silver or Gold or to Present or Past coins because this could increase their sentimental value as well.
DISCLAIMER
Please note that I am not your personal financial advisor as this is for entertainment purposes. Please do your research before buying anything.
Furthermore, If I post anything, there will be a source link for you to check out and to see where it come from.
Have a good day you HIVERS.
