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Hello /biz/ I'm new here, sorry if my question seems stupid.

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Hello /biz/
I'm new here, sorry if my question seems stupid.
I have a small amount of money (around 1200 EUR) I want to try my hand at investing before going to uni in autumn in the UK. I realized today that I have some GBP and it's currently tanking so I'm actually losing money. I don't want to buy stocks at any company, nor am I looking for some great profit - I'm just curious to see if I can turn a profit at all. I have 500 EUR, 400 GBP and 1000 RON and was thinking about converting all of it to gold since all 3 currencies are currently dropping when compared to it. Is it worth buying gold for such a small amount if I'm a total newbie, or do I risk making a mistake? Is it even reasonable to try this, or is the conversion tax going to be so high I'll end up not turning a profit at all?
Thanks in advance.
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>>1736381
Investments take TIME. You cant just convert all to gold and hope it goes up in a month, because it could very well takes many months to many years. Gold imo is a good investment right now with Trump uncertainty and his high amounts of rhetoric to other nations and towards trade. It could very well go up very fast soon, but it also might take awhile.

I would buy gold and hold for the next year or more.
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>>1736513
I'm gonna need GBP by late September when I'll be going to uni. I thought I had enough time to try my hand until then. Do you think it's still worth trying if I'll bail so soon?
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>>1736524
You should do it.
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>>1736524
£ is firmly set for a long term downslide as markets are preparing for worst case eu break off

take yen or usd and convert before you travel
silver and gold may or maynot rise sharply, they are more dependent on asia/us demand not the eu/uk
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>>1737023
Is the USD stable? I thought that Trump's start of term would bring about some uncertainty and I find it risky.
The other currency than gold that I had considered buying was yen, but I don't know enough about the political scene there to know if there are any sharp increases or decreases visible in the near future. Plus, taking yen doesn't seem nearly as interesting as buying gold.
I repeat, I'm not looking to maximize my profit or make a living out of this, it's just an exercise to see if I can read the market properly and end up with a profit, and having some fun trying. It's not a big sum and it won't be a catastrophe if I lose some money in the end.
Thank you for your advice.
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>>1737089
No one knows the Trump factor but he is a business man with a team of big business around him

Everyone knows a uk/eu trade deal will never be reached in 2 years on top of unpredictable regional elections.

Gold coin is often exempt from taxes, silver isnt usually. They look pretty but are very poor short term holds and you will need to find a dealer to change them back.
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>>1736524
please stay in your own country
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>>1737243
No.
>>1737147
So you recommend against buying gold if it's only in small amounts?
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JUST.
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>>1737271
The amount does not matter much
The length of time does.

Physical gold is often held for years. Its appeal is that it holds a value over time.

Generic britannias and sovereigns could be worth looking at since they are uk currency with a low premium. You may not gain much but you certainly wont lose anything the longer you hold it,
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>>1736381
Well, investing in gold should always be a long-term investment, however, now is not a bad time to buy it. Gold is on a bull run right now that might go up to $1250 in the short to mid-term. I'm optimistic about the long-term perspectives as well, 2017 should be a good year for gold (especially against EUR and GBP).

Goldmoney (goldmoney.com/r/WPGOHB) might be a good solution for you to get started (I buy there myself). You can buy gold with all the advantages of high liquidity there, as they keep it in vaults of your choice and let you cash out at a minutes notice. You can also get their MasterCard in 4 different currencies, which might be handy in your situation. And it's one of the few services where you can buy gold with PayPal. Might wanna take a look.
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>>1737400
>he missed the pound surge

Moon imminent

Nopounders BTFO
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>>1737414
Britannias are exactly the kind of thing I was looking for. Looking them up now, though, they seem like a terrible deal - 1 XAU is worth somewhere around 980-985 GBP right now and the cost of one Britannia containing 1 troy ounce of gold (so one XAU) is almost 1050 GBP. Is their value greater because they are minted into coins? Also, how much can the price change over the course of only one year? I might be willing to keep gold for a bit longer as I won't be needing the money precisely when I go to uni, but I'm not sure about keeping it for too long because I fear it will eventually crash. Also, how much does it matter what year Britannias I buy?
Thanks and sorry for all the questions.
>>1737466
Goldmoney looks cool, will look into it. I was thinking more about buying physical gold I can take home but this could also work. Thanks.
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>>1738642
>Is their value greater because they are minted into coins?
More likely, yes.
Can offer more liquidity than a big bar of gold. Have some collection value.
But then for silver, it's the opposite. So the value difference of coin mint is not inherent. I guess it depends on the current trend on the market, stocking or exchanging.
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>>1738674
How can I anticipate the evolution of the Britannia compared to GBP? It's kinda annoying that I can't find a live chart. I know it's based on gold price but it's valued a bit above that, not by a fixed amount though. Also, if I decide to buy Britannia, I won't be selling it back until I go to uni at least (because of international shipping taxes). Since the Britannia is official currency of the UK, there shouldn't be any problem with it, right? No extra taxes or custom laws to get through on the UK side? (EU national here, if that will still be relevant by September...)
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>>1738815
>How can I anticipate the evolution of the Britannia compared to GBP?
You can't. You can look if it goes usually lower or higher, and hope for the same.
I only gave you an hypothesis that coin vs bar is depending on the current exchange type orders, people wanting to do smaller transaction or bigger transaction. Just to give it sense, but I don't even fucking have a clue of what type is currently mostly done.

Like you said, it's not a big difference. So...
Let's say you want to buy x coins or x toz bars, just go with the lowest, or easiest to buy or safest to deliver if it's a really small difference.
Ask yourself if you're going to sell it all at once, then having liquidity doesn't matter. you can buy bigger bar if it's cheaper. If you want to sell it over some period, like paying some annual fee with it for 5 years. buy maybe 5 or 6 bars.
Just go with the liquidity you think you need.

I don't know for the taxes, I'm french.
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Holy shit, Britannia investment looks like it's such a good deal if you live in the UK. Too bad I don't and the delivery taxes would definitely make turning up a profit for such a small amount of money impossible.
I've looked into local gold sellers, mostly banks. They sell ingots and Austrian coins. Problem is, the prices are OUTRAGEOUS. I'm talking about having to pay 8-9% over current market value when buying gold and another 5% under when selling. I'm pretty sure this isn't normal. I'm going to try and look for jewelers or other people to try selling to for higher prices, but I don't know if I'll find anything. I'm thinking about quitting it if I can't find a decent seller.
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