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Coininvestdirect - How The Heck Do You Pay Them?

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I bought about £503 worth of PMs from them at the weekend.

This lunchtime I went into a branch of the HSBC in Sheffield to pay over the counter in cash, (CID use HSBC in the UK, although their branch is in London). BUT, as i don't have an HSBC account the woman behind the counter says 'computer says no' - I have to go to a paying in machine to pay the bill. But the machine only takes notes so that will cost me £505 as it doesn't give change either!

But the kicker is that there's no facility to add my order number to the payment at said machine - so CID won't know who's paid them other than 'someone who was in HSBC Sheffield on Monday lunchtime'.

The alternative that 'computer says no' offers me is to pay it in at my bank. BUT when I got to my bank they say a money transfer costs £25! This will add a hefty 5% to the total cost.

Has anyone who's purchased from CID managed to pay for the stuff without incurring £25 for the privilege? I don't have online banking btw - looks like I'll have to in the future, even though I distrust its security levels.

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Oh the joys of protecting ones wealth...

Been considering driving over there for a number of Silver Monster Boxes but by the time I decide Silver will no doubt be back at $50 :rolleyes:

This VAT caper with Silver is really cramping my style, think I'll have to stick with the yellow metal for now - shame really :angry:

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Does BACS really cost you £25? Last time I used it, admittedly a while back now, it was free. It is usually CHAPS (same day) transfers that incur a £25 fee AFAIK.

Alternatively, do they take cheques?

Edited by General Congreve

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This lunchtime I went into a branch of the HSBC in Sheffield to pay over the counter in cash, (CID use HSBC in the UK, although their branch is in London). BUT, as i don't have an HSBC account the woman behind the counter says 'computer says no' - I have to go to a paying in machine to pay the bill.

Lunchtime might be the problem.

HSBC began a policy some time ago whereby only customers are served by counter staff at lunchtime (not sure of the exact hours).

Try again early morning.

Furthermore the counter staff have the facility to add a reference number to the payment.

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Oh the joys of protecting ones wealth...

Been considering driving over there for a number of Silver Monster Boxes but by the time I decide Silver will no doubt be back at $50 :rolleyes:

This VAT caper with Silver is really cramping my style, think I'll have to stick with the yellow metal for now - shame really :angry:

If you sell your silver privately on ebay, or through other private channels, then buyers will bid up to the current spot including VAT (more or less) as this is what they would pay elsewhere. So in actual fact your silver VAT bill is automatically recovered when selling privately, i.e. bypassing a dealer.

Besides, having bought over 2 years ago, even if I sold to a dealer after the recent correction and took a VAT hit, thanks to silver price appreciation in that time it would not hit my profits too hard. And if it gets to over $100/Oz then that piddling 17.5% (at the time) on my original purchase would hardly register at all, if sold through official channels.

Edited by General Congreve

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Oh the joys of protecting ones wealth...

Been considering driving over there for a number of Silver Monster Boxes but by the time I decide Silver will no doubt be back at $50 :rolleyes:

This VAT caper with Silver is really cramping my style, think I'll have to stick with the yellow metal for now - shame really :angry:

You mean the 500oz Master Boxes?? Wowee, for those kind of sums it will be most definitely beneficial to collect over there. Just do it.

Alternatively you could just buy gold, as that amounts of silver like that are absolute arses to hide at home.

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You mean the 500oz Master Boxes?? Wowee, for those kind of sums it will be most definitely beneficial to collect over there. Just do it.

Alternatively you could just buy gold, as that amounts of silver like that are absolute arses to hide at home.

No need to hide, just leave balanced on top of a door. When the government inspectors or the burglars come snooping, BLAM!!! 500Oz's on your head Mofos! ;)

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No need to hide, just leave balanced on top of a door. When the government inspectors or the burglars come snooping, BLAM!!! 500Oz's on your head Mofos! ;)

Philharmonic 500oz Master Box. £14694 to deliver UK vs £13113 to collect in Germany. So saving £1500 per 500oz box. Worth it just for the 1 box and increasingly so for more.

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You mean the 500oz Master Boxes?? Wowee, for those kind of sums it will be most definitely beneficial to collect over there. Just do it.

Alternatively you could just buy gold, as that amounts of silver like that are absolute arses to hide at home.

That's my other gripe with Silver. It's fairly easy to walk around with £25k of Gold in your jacket pocket, same cannot be said for Silver :D

When the zombies come making it for the hills will be a lot easier with Gold :P

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Philharmonic 500oz Master Box. £14694 to deliver UK vs £13113 to collect in Germany. So saving £1500 per 500oz box. Worth it just for the 1 box and increasingly so for more.

Yeah and as GC's says, when sold in the UK you'll get the UK VAT back. There is profit to be made simply buying and selling this way, with the appropriate paper short taken out to cover the fluctuations of course. I'm sure this is where a lot of the Monster Boxes on eBay have come from.

BTW I see one of the Silver Keiser's made its way onto eBay UK, sold for 50 notes...

Silver Keiser

Guess the novelty value had something to do with that...

Edited by MrFlibble

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Lunchtime might be the problem.

HSBC began a policy some time ago whereby only customers are served by counter staff at lunchtime (not sure of the exact hours).

Try again early morning.

Furthermore the counter staff have the facility to add a reference number to the payment.

I will thanks. I have in the fairly recent past managed to pay over the counter, inc reference number. Maybe mrs 'computer says no' gave me the lunctime bums rush because I wasn't an HSBC customer?

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I bought about £503 worth of PMs from them at the weekend.

This lunchtime I went into a branch of the HSBC in Sheffield to pay over the counter in cash, (CID use HSBC in the UK, although their branch is in London). BUT, as i don't have an HSBC account the woman behind the counter says 'computer says no' - I have to go to a paying in machine to pay the bill. But the machine only takes notes so that will cost me £505 as it doesn't give change either!

But the kicker is that there's no facility to add my order number to the payment at said machine - so CID won't know who's paid them other than 'someone who was in HSBC Sheffield on Monday lunchtime'.

The alternative that 'computer says no' offers me is to pay it in at my bank. BUT when I got to my bank they say a money transfer costs £25! This will add a hefty 5% to the total cost.

Has anyone who's purchased from CID managed to pay for the stuff without incurring £25 for the privilege? I don't have online banking btw - looks like I'll have to in the future, even though I distrust its security levels.

I don't know if you've made your decision regarding this, but I very recently bought some from them, you get about six days to settle your invoice, and I just emailed them to ask if it would be okay for me to pay them in lumps of £10,000. They said this was absolutely fine, just clearly mark your invoice number on each payment. If you think about it objectively, they are likely to be quite accommodating to customers intending to buy over £10,000 worth of products!

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I don't know if you've made your decision regarding this, but I very recently bought some from them, you get about six days to settle your invoice, and I just emailed them to ask if it would be okay for me to pay them in lumps of £10,000. They said this was absolutely fine, just clearly mark your invoice number on each payment. If you think about it objectively, they are likely to be quite accommodating to customers intending to buy over £10,000 worth of products!

please tell me that you spoke to them first before making orders and got a discount on the listed prices.

What are the discount levels now?

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I've just settled the bill over the counter (for a modest £5 fee!) at the HSBC, I could have used a machine for £2 effectively (given that it only takes notes and gives no change) but I wanted them to process the payment so if it goes wrong it's their fault. Seems like they'll talk to non HSBC customers outside of lunchtime.

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Oh the joys of protecting ones wealth...

Been considering driving over there for a number of Silver Monster Boxes but by the time I decide Silver will no doubt be back at $50 :rolleyes:

This VAT caper with Silver is really cramping my style, think I'll have to stick with the yellow metal for now - shame really :angry:

Ahhhhh the good old days of silver buying, when VAT was reduced down from 17.5% for a year or two ? & Sarnia silver shipped any Silver under 17/18 GBP VAT free :P

Ohhh & Kilo bars being so cheap you practicly got 10 ounces free each purchase :P

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Ahhhhh the good old days of silver buying, when VAT was reduced down from 17.5% for a year or two ? & Sarnia silver shipped any Silver under 17/18 GBP VAT free :P

Ohhh & Kilo bars being so cheap you practicly got 10 ounces free each purchase :P

In 2005 you could get 1 kilo bars for £210 off eBay. More fool me for not filling the garage with them.

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please tell me that you spoke to them first before making orders and got a discount on the listed prices.

What are the discount levels now?

Interesting. So if I'm planning to order a box of 500 I should phone them and haggle on the price? What kind of discount might this achieve?

Cheers in advance.

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