Jump to content
House Price Crash Forum
cbs7

Buying Physical Silver

Recommended Posts

Have just come across these guys who do easy shipping to anywhere in the world

http://www.thesilverxchange.com/

Does anyone have any experience buying from these guys and receiving the legitimate goods? It seems to be almost impossible to find silver bullion sellers in the UK except for Chard and ATS Bullion

Share this post


Link to post
Share on other sites

I have no experience dealing with US shippers such as these, but I think you can take it they are a legitimate outfit. The main point is that you ensure they ship your sliver on the sly to avoid paying VAT here on import. As they are hardly likely to ship a parcel stamped "silver bullion" this ought not to be a problem. The stuff will take about a month to get to you, though, and of course there is the issue of how you send them the money.

As you say, it is a bloody hassle getting silver bullion in this country, and it is expensive because you have to pay VAT. There is not really any way around that, but on the bright side silver is quite cheap. You can still get a 1kg Kookaburra coin for around £250. I suspect that will not last, so maybe it's easier just to get the train to Blackpool and load up.

Share this post


Link to post
Share on other sites

Have just come across these guys who do easy shipping to anywhere in the world

http://www.thesilverxchange.com/

Does anyone have any experience buying from these guys and receiving the legitimate goods? It seems to be almost impossible to find silver bullion sellers in the UK except for Chard and ATS Bullion

Thanks for posting the link. I am going to buy something from those guys (not much though, I can't even afford to buy a new mack)

I've noticed the site seems to be down a lot, I hope this is no reflection on their reliability!

It says that we are responsible for duty / excise ourselves. Does this mean we have to inform the VAT people of the purchase and give them 17.5%. How likely is it that they'll ever find out and what would be conseqences of just pleading ignorance ? (It would only ever be a few hundred quid)

Share this post


Link to post
Share on other sites

Thanks for posting the link. I am going to buy something from those guys (not much though, I can't even afford to buy a new mack)

I've noticed the site seems to be down a lot, I hope this is no reflection on their reliability!

It says that we are responsible for duty / excise ourselves. Does this mean we have to inform the VAT people of the purchase and give them 17.5%. How likely is it that they'll ever find out and what would be conseqences of just pleading ignorance ? (It would only ever be a few hundred quid)

The only way you will not pay duty and VAT and imported silver is by either lying about the contents or Customs simply missing it. I paid VAT on Kennedy 1/2 dollars - no way around it.

The ONLY vat free way to buy and take possession of silver is to acquire old half-crowns, florins, shillings etc pre-1947 (50% silver) or pre-1920 (92% silver) from dealers or ebay. Here's one taken from the current ebay listings:

http://cgi.ebay.co.uk/1-6-Kilos-pre-1947-B...1QQcmdZViewItem

Price finished at £165+£8.50 postage for 0.8 kilos of silver which works out at 25.7 troy ounces which is £6.75 per ounce. With silver at about £5.76 per ounce on the spot market that gives a premium of 17% which compared to the 40+% you see for bars is a good deal.

In fact, I'll go further, when I was buying these coins last year, the average premium over spot including P&P was about 4%! I don't know what the average on ebay is now, I suspect that 17% is high.

Here's another completed ebay item for 1kg of pre-1947s:

http://cgi.ebay.co.uk/1kg-of-pre-1947-Brit...1QQcmdZViewItem

£77+£4.25 p&p for 0.5kg silver = £5.05 per troy ounce or 14% below spot! So you see, it pays to bid prudently.

Expect these coins to go like hot cakes with a possibly higher spread as the silver bull progresses!

Silverity.

www.newerainvestor.com

Share this post


Link to post
Share on other sites

The only way you will not pay duty and VAT and imported silver is by either lying about the contents or Customs simply missing it. I paid VAT on Kennedy 1/2 dollars - no way around it.

The ONLY vat free way to buy and take possession of silver is to acquire old half-crowns, florins, shillings etc pre-1947 (50% silver) or pre-1920 (92% silver) from dealers or ebay. Here's one taken from the current ebay listings:

http://cgi.ebay.co.uk/1-6-Kilos-pre-1947-B...1QQcmdZViewItem

Price finished at £165+£8.50 postage for 0.8 kilos of silver which works out at 25.7 troy ounces which is £6.75 per ounce. With silver at about £5.76 per ounce on the spot market that gives a premium of 17% which compared to the 40+% you see for bars is a good deal.

In fact, I'll go further, when I was buying these coins last year, the average premium over spot including P&P was about 4%! I don't know what the average on ebay is now, I suspect that 17% is high.

Here's another completed ebay item for 1kg of pre-1947s:

http://cgi.ebay.co.uk/1kg-of-pre-1947-Brit...1QQcmdZViewItem

£77+£4.25 p&p for 0.5kg silver = £5.05 per troy ounce or 14% below spot! So you see, it pays to bid prudently.

Expect these coins to go like hot cakes with a possibly higher spread as the silver bull progresses!

Silverity.

www.newerainvestor.com

Thanks for that. Their site is still bombed, does this happen a lot ?

Share this post


Link to post
Share on other sites

Have just come across these guys who do easy shipping to anywhere in the world

http://www.thesilverxchange.com/

Does anyone have any experience buying from these guys and receiving the legitimate goods? It seems to be almost impossible to find silver bullion sellers in the UK except for Chard and ATS Bullion

I have been buying Silver bullion (and Gold) for some time now.

Obviously I don't live in the UK anymore - left years ago, and here in Hong Kong Silver there is no VAT or GST on PMs - which is nice of course.

Whilst I can buy Silver coins from the local coin dealers - I also buy from the US via the internet and they post the Silver without stating the contents on the package - they just state 'Numismatics' or something like that.

The question have is this - once you come to sell your Silver in the future, (hopefully it will worth a lot more), will you need to also charge VAT and pass this on to HM Customs?

Madness eh?

Share this post


Link to post
Share on other sites

Have just come across these guys who do easy shipping to anywhere in the world

http://www.thesilverxchange.com/

Does anyone have any experience buying from these guys and receiving the legitimate goods? It seems to be almost impossible to find silver bullion sellers in the UK except for Chard and ATS Bullion

I got my posts mixed up. www.thesilverexchange.com appears to be broken. Is anyone else having issue. It crashes when I click on any product link from the homepage.

I contacted them and they told me that there was nothing wrong with their site!

Any ideas on what is happening ?

Share this post


Link to post
Share on other sites

I got my posts mixed up. www.thesilverexchange.com appears to be broken. Is anyone else having issue. It crashes when I click on any product link from the homepage.

I contacted them and they told me that there was nothing wrong with their site!

Any ideas on what is happening ?

works ok for me....tried a different web browser?

http://www.mozilla.com/firefox/

Edited by bottletop

Share this post


Link to post
Share on other sites

I have been buying Silver bullion (and Gold) for some time now.

Obviously I don't live in the UK anymore - left years ago, and here in Hong Kong Silver there is no VAT or GST on PMs - which is nice of course.

Whilst I can buy Silver coins from the local coin dealers - I also buy from the US via the internet and they post the Silver without stating the contents on the package - they just state 'Numismatics' or something like that.

The question have is this - once you come to sell your Silver in the future, (hopefully it will worth a lot more), will you need to also charge VAT and pass this on to HM Customs?

Madness eh?

Depends on the tax policy of where your main domicile is.

For Britain, it comes under Capital Gains Tax. You get an allowance of about £8500 and then it is taxed as income on top of whatever else you earn as income.

No doubt there some clever tricks to reduce this tax liability such as transfers to low income partners, etc.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.