Glint

Though if you’ve a stack of gold bars in your cellar, you can probably afford a bit of reinforcement.

And a security guard…:flushed:

Your address again…?:grinning:

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I used to work in insurance and we had clients that specifically tailored their policies at Lloyd’s of London (not Lloyds Bank) to reflect their gold and silver in their property!

Haha, it’s a fair point but let me just say my point was storing up to 10k worth of gold at home, £10k of gold is most definitely not even nearly a single gold bar so your floorboards would be a-ok :slight_smile:

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10 krugerrands weigh 10 ounces, not exactly floorboard warping.

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If you wanted to feel better about your gold hoard though you could keep it in a dollhouse, then you’d see the floors warping and feel better about yourself.

…possibly.

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At current prices £10k worth of Gold would buy ~333grams. Gold bars come in various masses too so this could be delivered in any number of bar ranging from 1 to 333 bars.

But as I explained, it doesn’t make sense to have Gold physically delivered for investment purpose.

I would not have it sent to my house. Royal Mail would just dump it in the rain on my path, too lazy to walk to my door.

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If you want physical gold, buy sovereigns. No CGT.

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With such a high value item, anything less than a recorded delivery would be asking for trouble anyway.

@DaveTMG what’s CGT stand for?

Capital Gains Tax

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Here is a breakdown of Gold demand/usage btw which you all may find interesting.
Glint aims to reintroduce Gold as an alternative means of payment for goods/services.

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The tax-free allowance on capital gains is substantial enough for it not to be an issue in the quantities discussed so far.

And while we’re on the subject, I’d like to know why my postman always chooses my front path to drop rubber bands. Why me?

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Yeah, wasn’t the treasury talking about getting rid of all the copper, since we are moving to a cashless society? My head is spinning :confused:

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Good point, but reintroduction in the digital sense not the physical. The Glint app comes with a Glint MasterCard whereby you can choose to spend your gold or fiat when making a purchased. Today’s email from Glint below:
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Glint has proclaimed that the gold held is allocated and the person who has purchased it is the proprietor.

The question of whether the Gold in itself is insured has been stipulated on their website: ‘The value of the physical gold is 100% insured by Brinks and Lloyds of London for its full replacement value’.

BUT, has anybody who is using Glint currently got confirmation of insurance upon exchange of their currency to gold?

I have just received my Glint card in the post but I have been reluctant to use it as I feel as if I need some clarification. It all seems too good to be true. Equally, its in early stages of formation.
Note: its only a Beta, does this mean it can just close shop!?

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Personally, I haven’t been overly concerned with the “insurance” element given I don’t have a large holding with the app & if I were to then I may look at more established player offerings. However, your post did prompt me to look into the relevant FAQs (link below) and the assuring thing is it is you & not Glint who legally owns your “gold”: https://glintpay.com/help/secure-physical-gold-accounts/

Secondly, with regard to the “money” balances, the following applies, but i expect that as Glint matures FSCS protection may be implemented:
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only if it becomes a bank

Are you 100% sure that’s correct? There are some P2P lenders & robo-advisors that have this protection & they’re not banks.