My latest fiat to real money conversion

in gold •  4 months ago

Over the past year or so I’ve been putting any two pound coins i get hold of into a tin


And finally it got full


So I decided it was time to find out how much was there


I put all the coins into £10 stacks


The total was a pleasant £716 so I then went onto my usual gold and silver dealer website I decided with what I had saved I would get a Quarter ounce gold British Britannia and 25 ounces of silver British Britannia which arrived today


Here are just a few pictures




Now I know there’s lots of people who would say gold and silver are not a good investment but for me personally I look at it as a financial insurance, I mean you Insure your car, home etc etc and every year you have to keep paying the Premiums and unless something bad happens you will never see any off that money again, but with the metals you get to keep your premiums even if nothing bad happens so for me it’s a no brainier. I hope you enjoy this post and maybe it just gives you something to think about. Thanks for taking the time to look cheers mike

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

That's a great amount of £2 coins and a nice surprise.

Its gold and silver all the way for me.. mainly gold (sovs and brits) Can't go wrong with real money


Nice to see I’m not alone, thanks for your reply cheers mike

Who the heck says that about gold and silver? God save the queen!!


Right on brother, cheers mike

Sure a good time to buy now. I just got 2 Australian Kookaburras ( 1kg), they are quiet nice too. And Liz is on them as well... :)
The British coins tend to be a bit expensive over here, Australian and Canadian give more oz for the money.


I agree over here they change us VAT on silver so yes it’s probably a bit more expensive. Thanks for your reply cheers mike


Yes, same here. But its complicated: silver bars have the full 19% VAT, while official currency coins have a reduced VAT, 10% or so. Thats why almost nobody here buys silver bars (except the coin bars from Fiji).
Gold is always VAT excempt, no matter if bar or coin. Thats why bars are prefered, they cost less extra for the coining.


Gold here is VAT free, but I buy the coins which are legal tender which bars are not the reason is if one day we all made some money I wouldn’t pay tax on my profits but you would on bars . Cheers mike


In Germany we dont pay tax on profits made on gold, under the condition that you have held that gold more than 1 year. Doesn't matter if coin or bar or whatever.


Well that sounds a bit better, one year is not that long to wait. Thanks for your reply cheers mike

Awesome and great to watch your passion towards the collecting coins, and genuinely speaking you've done an effective Investment because people who think that Gold and Silver is an not an good investment then in my opinion they don't know the History. No matter what when everything falls only precious metals stands out.

Wishing you an great day and stay blessed. 🙂


Thank you very much for your nice reply. Cheers mike


Welcome. 🙂

Congratulations @mikenevitt! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of comments

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Great, you have saved much more money its time to buy gold great work...

I LOVE the title of this! Fiat to real money conversion!!!

So many people think fiat IS real money! You explained it all in just a few words! In one simple title!


I absolutely love this.

You show how it's possible to stack even just 2 pounds at a time.

I kind of view it as an investment AND insurance. I feel like at the very least it preserves my wealth and yes, insures that it won't dwindle into nothing (zero value).

I view it as an investment because if you look at what gold was worth 100 years ago vs. now, it definitely increases in value despite the crashes and dips along the way.


Thank you, of course it’s a personal choice but I believe the manipulation will end one day and the metals will correct to fair value. Cheers mike