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Silver Purchase Advice

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I've decided to purchase some silver. But I've discovered that silver coins purchased in the UK are subject to VAT at 20%.

Are there any drawbacks with purchasing 1/2 oz coins from dealers in the Channel Islands or would it be better to purchase from Holland where VAT on silver coins is 6% and personally import them into the UK?

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I've decided to purchase some silver. But I've discovered that silver coins purchased in the UK are subject to VAT at 20%.

Are there any drawbacks with purchasing 1/2 oz coins from dealers in the Channel Islands or would it be better to purchase from Holland where VAT on silver coins is 6% and personally import them into the UK?

Not all coins are subject to 20% VAT, there are some exemptions PM if you are interested.

I'd note that the price from the channel islands is pretty high @ £30 an oz, when you can still buy for £22ish an oz.

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Not all coins are subject to 20% VAT, there are some exemptions PM if you are interested.

I'd note that the price from the channel islands is pretty high @ £30 an oz, when you can still buy for £22ish an oz.

Where can you buy for £22 ish an ounce Ken?

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Not all coins are subject to 20% VAT, there are some exemptions PM if you are interested.

I'd note that the price from the channel islands is pretty high @ £30 an oz, when you can still buy for £22ish an oz.

Yeah come on Ken, spill the beans :ph34r:

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Yeah come on Ken, spill the beans :ph34r:

really?

someone tells you something like that and you expect a free lunch at the risk of costing theirs.

He is right, look around, do the research and find your own sources.

Finding your own source is worth a million times more than a possible one off. Get off your backside, you will be glad that you did when you need an exit.

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Goldmoney is currently £22.19 an ounce (and no VAT to pay to the thieving bastards whose actions are forcing me to buy silver in the first place).

I used to buy physical silver from those Channel Islands firms, but I prefer Goldmoney now.

Buying kilo bars would get you a price of around £23.85 but then you've got to add the 20% VAT on top of that, so around £28.62. This is why I prefer Goldmoney.

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I've decided to purchase some silver. But I've discovered that silver coins purchased in the UK are subject to VAT at 20%.

Are there any drawbacks with purchasing 1/2 oz coins from dealers in the Channel Islands or would it be better to purchase from Holland where VAT on silver coins is 6% and personally import them into the UK?

If I was after some cheap silver I usually buy uruguayan 100 pesos from weighton wonders.

Being second hand there is some kind of VAT loophole.

They weigh in at 25grams of .999 silver and cost £17.95 so by my rough calculations they work out at around £22.32 an ounce,but probably nearer £23 when you take into account of the postage.

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Goldmoney is currently £22.19 an ounce (and no VAT to pay to the thieving bastards whose actions are forcing me to buy silver in the first place).

I used to buy physical silver from those Channel Islands firms, but I prefer Goldmoney now.

Buying kilo bars would get you a price of around £23.85 but then you've got to add the 20% VAT on top of that, so around £28.62. This is why I prefer Goldmoney.

Just looking at Sarnia - the prices look a bit extreme. Are people are actually buying at those prices?

On the subject of VAT, it is factored into sell-on prices so you get it back later. Not sure about GoldMoney myself. Looking at the crap going on all over the world I'd rather have the physical bullion.

Edited by needsleep

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I've decided to purchase some silver. But I've discovered that silver coins purchased in the UK are subject to VAT at 20%.

Are there any drawbacks with purchasing 1/2 oz coins from dealers in the Channel Islands or would it be better to purchase from Holland where VAT on silver coins is 6% and personally import them into the UK?

Go to Holland. When I bought silver, I went to Germany to do so where the MtwS is just 7% on bullion coins (with legal tender status). when I got my hand luggage checked (which consisteted almost entirely of coins, I said they were 'Poker Chips', and there was no problems. Obvioulsy at the UK end, I walked through nothing to declare...just as everyone does.

The only gauling thing about my silver purchase was that I bought the silver just after New Year, when silver hit one of its peaks. It then dropped significantly to the point where I could have bought in UK @ 20% VAT, for as much as I paid in Germany (with none of the hassles).

Just looking at Sarnia - the prices look a bit extreme. Are people are actually buying at those prices?

On the subject of VAT, it is factored into sell-on prices so you get it back later. Not sure about GoldMoney myself. Looking at the crap going on all over the world I'd rather have the physical bullion.

If u sell ur silver on personally in an off the record sale, then I suppose you could factor in the original VAT costs.

Otherwise, VAT paid on silver bullion is non recoverable.

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Just looking at Sarnia - the prices look a bit extreme. Are people are actually buying at those prices?

Good question. Some people somewhere must be but the days when Sarnia had decent deals seem to have long gone.

Not sure about GoldMoney myself. Looking at the crap going on all over the world I'd rather have the physical bullion.

I'm happy with Goldmoney for current and future purchases although I do have a stock of coins, rounds and bars I bought before the silver price went up so drastically.

I only buy silver from them, I keep all my gold in physical form.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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