Does anyone know of anywhere where it is possible to buy and sell silver bullion coins.
When purchasing gold coins, it is possible to buy them at the market price for gold (+5-8% premium). I cannot find anyone who sells silver bullion coins in such a way. A one ounce silver bullion coin seems to be twice the price of it's value in silver.
Also, which are the best places to sell gold and silver in the UK?
Full Version: Buying Silver Bullion Coins in the UK
The only decent website I hve seen is Chards, though I haven't dealt with them yet.
(ww.chards.co.uk - very labyrinthine web site).
Gold coins sell at a premium , depeding on the vintage and condition.
So do silver ones, though tehy were advertising bags of junk silver at
spot plus 5%, plus VAT on the margin. Not bad, I wanted to get some myself,
but was unsure of the contents,
if they are pre 1920 British, then they will be Sterling, post 1920 to 1944?? I think
were 50%.
Problem was you had to buy 10kg, and that makes it expensive - I thought it
might be nice to have a kilo around in case the financial system melted down.
It may be better to accumulate cheap Argos jewlery gold and silver rings though.
Their silver sixpences (intended as wedding gifts) looked like a good deal.
ABB
(ww.chards.co.uk - very labyrinthine web site).
Gold coins sell at a premium , depeding on the vintage and condition.
So do silver ones, though tehy were advertising bags of junk silver at
spot plus 5%, plus VAT on the margin. Not bad, I wanted to get some myself,
but was unsure of the contents,
if they are pre 1920 British, then they will be Sterling, post 1920 to 1944?? I think
were 50%.
Problem was you had to buy 10kg, and that makes it expensive - I thought it
might be nice to have a kilo around in case the financial system melted down.
It may be better to accumulate cheap Argos jewlery gold and silver rings though.
Their silver sixpences (intended as wedding gifts) looked like a good deal.
ABB
QUOTE(AgeingBabyBoomer @ Apr 15 2007, 10:25 PM) 
The only decent website I hve seen is Chards, though I haven't dealt with them yet.
(ww.chards.co.uk - very labyrinthine web site).
Gold coins sell at a premium , depeding on the vintage and condition.
So do silver ones, though tehy were advertising bags of junk silver at
spot plus 5%, plus VAT on the margin. Not bad, I wanted to get some myself,
but was unsure of the contents,
if they are pre 1920 British, then they will be Sterling, post 1920 to 1944?? I think
were 50%.
Problem was you had to buy 10kg, and that makes it expensive - I thought it
might be nice to have a kilo around in case the financial system melted down.
It may be better to accumulate cheap Argos jewlery gold and silver rings though.
Their silver sixpences (intended as wedding gifts) looked like a good deal.
ABB
(ww.chards.co.uk - very labyrinthine web site).
Gold coins sell at a premium , depeding on the vintage and condition.
So do silver ones, though tehy were advertising bags of junk silver at
spot plus 5%, plus VAT on the margin. Not bad, I wanted to get some myself,
but was unsure of the contents,
if they are pre 1920 British, then they will be Sterling, post 1920 to 1944?? I think
were 50%.
Problem was you had to buy 10kg, and that makes it expensive - I thought it
might be nice to have a kilo around in case the financial system melted down.
It may be better to accumulate cheap Argos jewlery gold and silver rings though.
Their silver sixpences (intended as wedding gifts) looked like a good deal.
ABB
I have also looked at the Chards website. The silver bullion one ounce coins look to be roughly twice the price of the current market price for 1oz of silver. Gold can be bought at the market price plus a premium(5% + depending on what and how much you buy).
I think that I will stick to gold. I have used Chards on several occasions. They are OK to deal with apart from being very stroppy about ID.
QUOTE(UNSHURE @ Apr 16 2007, 07:46 PM)
I have also looked at the Chards website. The silver bullion one ounce coins look to be roughly twice the price of the current market price for 1oz of silver. Gold can be bought at the market price plus a premium(5% + depending on what and how much you buy).
I think that I will stick to gold. I have used Chards on several occasions. They are OK to deal with apart from being very stroppy about ID.
I think that I will stick to gold. I have used Chards on several occasions. They are OK to deal with apart from being very stroppy about ID.
The problem with silver bullion is the VAT. I have eagles and maples bought a while ago through a local coin dealer. Also bought gold as no VAT from Baird and Co - good to deal with no ID problems link below
http://www.goldline.co.uk/goldlinedev/GC/G...HomeFrame.ghtml
QUOTE(Silver Bull @ Apr 16 2007, 08:38 PM)
The problem with silver bullion is the VAT. I have eagles and maples bought a while ago through a local coin dealer. Also bought gold as no VAT from Baird and Co - good to deal with no ID problems link below
http://www.goldline.co.uk/goldlinedev/GC/G...HomeFrame.ghtml
http://www.goldline.co.uk/goldlinedev/GC/G...HomeFrame.ghtml
I came to peace with the VAT issue. I decided it doesn't make any difference in the end. I bought a new table and 4 dining chairs the other week. I must have paid VAT. Was this an unwise purchase?
Another thing to consider is that, if it were so easy to deter people from dumping out of cash (by just levying a high tax on the object(s) of currency flight) why do governments go to capital controls, market rigging and gold outlawing, in desperate last measures to avoid catastrophic collapses?
When the time comes, I think people will be buying silver regardless. I don't think it'll even cross their minds (like with the table) They're just going to see the price going up, up and away and that'll be all that matters. Besides, not much tax actually gets taken because VAT is only charged once. The premium is mostly nominal, and gets passed along from one user to the next. That is my understanding anyway.
I'd love to know peoples' opinions about this because there's not a lot of intelligent discussion about this. Writing silver bullion off on the basis of VAT might be a mistake.
I bought junk silver and had it shipped over from the states, no VAT cos it is currency. if buying more would use goldmoney or perth mint
QUOTE(silverharp @ Apr 27 2007, 03:15 PM)
I bought junk silver and had it shipped over from the states, no VAT cos it is currency. if buying more would use goldmoney or perth mint
This is a myth. You will be able to confirm your silver was smuggled in because the contents and the FULL VALUE will not have been disclosed on the packaging or customs documents.
If you can get away with it, great. But be very careful!
FYI:
http://customs.hmrc.gov.uk/channelsPortalW...tyType=document
No such exemptions exist for silver I'm afraid.
I like the Perth mint for silver - free storage and no VAT. I live in a one-bedroom bungalow so I'm not sure where I'd go about stashing 10,000 ounces of silver!
QUOTE(room305 @ Apr 27 2007, 03:57 PM)
I like the Perth mint for silver - free storage and no VAT. I live in a one-bedroom bungalow so I'm not sure where I'd go about stashing 10,000 ounces of silver!
How crude.
Perhaps not the forum for me after all.
QUOTE(Sapphire @ Apr 27 2007, 01:55 PM)
I came to peace with the VAT issue.
So did I when I bought my original coins for a decent price. I am a bullion fan but believe the true profits are in the stocks. I've followed the line of establishing initial investments in bullion (and Goldmoney and SLV). Same for gold. My next step is the silver mining juniors. Bank profits in bullion.
QUOTE(Sapphire @ Apr 27 2007, 05:46 PM)
How crude.
Perhaps not the forum for me after all.
Perhaps not the forum for me after all.
QUOTE(Sapphire @ Apr 27 2007, 03:51 PM)
This is a myth. You will be able to confirm your silver was smuggled in because the contents and the FULL VALUE will not have been disclosed on the packaging or customs documents.
If you can get away with it, great. But be very careful!
FYI:
http://customs.hmrc.gov.uk/channelsPortalW...tyType=document
No such exemptions exist for silver I'm afraid.
If you can get away with it, great. But be very careful!
FYI:
http://customs.hmrc.gov.uk/channelsPortalW...tyType=document
No such exemptions exist for silver I'm afraid.
I bought via gold.ie and had it shipped to ireland where I live, to the best of my knowledge they have agreement from the revenue here, maybe the regs are a little different. but you could contact gold.ie and get their opinion as they deal with the UK.
I get my silver in bar form from www.silvermarket.co.uk, 100s 250s and 500s. nice shiny bars too... takes 10 days for the cheque to clear though
QUOTE (silverharp @ Apr 27 2007, 03:15 PM)
I bought junk silver and had it shipped over from the states, no VAT cos it is currency. if buying more would use goldmoney or perth mint
QUOTE (Sapphire)
This is a myth. You will be able to confirm your silver was smuggled in because the contents and the FULL VALUE will not have been disclosed on the packaging or customs documents.
If you can get away with it, great. But be very careful!
FYI:
http://customs.hmrc.gov.uk/channelsPortalW...tyType=document
No such exemptions exist for silver I'm afraid.
If you can get away with it, great. But be very careful!
FYI:
http://customs.hmrc.gov.uk/channelsPortalW...tyType=document
No such exemptions exist for silver I'm afraid.
QUOTE
90% Silver Bags (0.900 Fine Silver)
(715oz of pure 24 carat silver)
Bags of U.S. circulating legal tender coins (dimes, quarters, half-dollars) containing 90% silver are traded based on silver weight. All bags contain $1,000 face value of the coins and a "90% bag" may contain 10,000 dimes, 4,000 quarters or 2,000 half-dollars or a mixture of dimes, quarters or halves that total $1,000 face value. All "90% coins" are pre-1965 because prior to 1965, all U.S. dimes, quarters and half-dollars were struck from an alloy containing 90% silver and 10% copper. Many people want to own pre 1964 silver coins as they allow a person to have silver in very small denominations and can be purchased at a very small premium over their spot price or melt value. These silver bags are VAT free in the EU and some other jurisdictions due to their legal tender status.
(715oz of pure 24 carat silver)
Bags of U.S. circulating legal tender coins (dimes, quarters, half-dollars) containing 90% silver are traded based on silver weight. All bags contain $1,000 face value of the coins and a "90% bag" may contain 10,000 dimes, 4,000 quarters or 2,000 half-dollars or a mixture of dimes, quarters or halves that total $1,000 face value. All "90% coins" are pre-1965 because prior to 1965, all U.S. dimes, quarters and half-dollars were struck from an alloy containing 90% silver and 10% copper. Many people want to own pre 1964 silver coins as they allow a person to have silver in very small denominations and can be purchased at a very small premium over their spot price or melt value. These silver bags are VAT free in the EU and some other jurisdictions due to their legal tender status.
http://www.gold.ie/modern_silver_coins.php
QUOTE (goldshark @ Jun 25 2007, 12:09 PM)
I get my silver in bar form from www.silvermarket.co.uk, 100s 250s and 500s. nice shiny bars too... takes 10 days for the cheque to clear though
Does anyone know why the mark-up on sliver bullion bars is so high? I've calculated almost a 40% premium on the spot price (without VAT). Is that normal for UK dealers?
QUOTE (Chips @ Jun 8 2008, 03:18 PM)
Does anyone know why the mark-up on sliver bullion bars is so high? I've calculated almost a 40% premium on the spot price (without VAT). Is that normal for UK dealers?
Profiteering, check out the price that The Royal Mint wants for a Britainnia, they have really raised the price over the last few years, a massive markup, way beyond that of a US Eagle + VAT + shipping. Coins dealers have been complaining about this but then started to markup other silver coins and bar to the same level as The Royal Mint
There is a increased cost in refining an ounce of silver as opposed to gold but no where near the prices being charged
Hi,
You can purchase them from us.
http://www.goldproofcoins.co.uk
we have a number of bars and a large amount of coin.
You can purchase them from us.
http://www.goldproofcoins.co.uk
we have a number of bars and a large amount of coin.
QUOTE (aharvey @ Apr 20 2009, 05:55 PM)
Hi,
You can purchase them from us.
http://www.goldproofcoins.co.uk
we have a number of bars and a large amount of coin.
You can purchase them from us.
http://www.goldproofcoins.co.uk
we have a number of bars and a large amount of coin.
I'm surprised the moderators let you spam the forum but I just looked at your prices and they are not bad. Proof set of 4 x £1 silver coins for £22 (asking £80 BIN on ebay)
QUOTE (dr ray @ Jun 14 2009, 08:20 PM)
I'm surprised the moderators let you spam the forum but I just looked at your prices and they are not bad. Proof set of 4 x £1 silver coins for £22 (asking £80 BIN on ebay)
Hi,
I hope it is not considered too spammy posting here, but it is very relevant to the thread!
Here at bullion by post we offer silver bars from 7.5% above spot for 5 kg silver bars plus unfortunately the VAT.
We have a few customers who are very into physical silver and who are personally VAT registered, but obviously we can't give any tax advice
Cheers
Rob
www.bullionbypost.co.uk
0800 612 6527
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.