Where to buy physical Gold/Silver Bullion at Market price?

bery_451

Hi,

Looking to buy from a reputable place/website, preferably at market price or cheapest prices not asking price and do I have to pay VAT?

Discount available for bulk purchases?

Also which website abroad is reputable if abroad is cheaper and what taxes am I liable for importing?

Basically looking to buy at the cheapest price safely.

markj113

In order of my personal preference :

http://www.hattongardenmetals.com/buy/
https://atkinsonsbullion.com/
http://www.goldline.co.uk

No VAT to pay on gold.
VAT is payable on other precious metals such as silver, platinum & rhodium.

Sovereigns are highly recommended, VAT & CGT tax free(Britannia's too), Low price over spot and highly liquid. Nice to hold a bit of history in your hands too.

chrisgg

Probably easier to just buy a gold ETF.

Joe_Bloggs

As I see it the problem with holding precious metals/coins/art is when it becomes time to sell. I offer for discussion that:-

1) The buyer has limited trust in the origins of the product offered by the vendor .
2) The buyer can't trust the authenticity of what is for sale so the price offered, factors in checks of authenticity.
3) The buyer needs a profit so will offer what they need to make a profit on the next sale of the article.

Hence you will not get the market price of your asset but possibly far less.

The same economic processes also apply to designer handbags and many other luxury items.
J_B.

Glen_Clark

I'm happy with the prices I got trading sovereigns over the counter at Blackpool https://www.chards.co.uk/ The most time consumng part was all the rigmarole to prove your identity for them to pass on to the Inland Revenue.

markj113

Joe_Bloggs wrote: »

As I see it the problem with holding precious metals/coins/art is when it becomes time to sell. I offer for discussion that:-

1) The buyer has limited trust in the origins of the product offered by the vendor .
2) The buyer can't trust the authenticity of what is for sale so the price offered, factors in checks of authenticity.
3) The buyer needs a profit so will offer what they need to make a profit on the next sale of the article.

Hence you will not get the market price of your asset but possibly far less.

The same economic processes also apply to designer handbags and many other luxury items.
J_B.

Art values are subjective and subject to trends. Gold will always be linked to spot price at a minimum.

1) When selling to a dealer they can check the metal on the spot with an XRF machine and takes seconds. Fake coins are quite easy to spot as the details are never the same as the real thing.

2) Buy/Sell spread to a dealer can be as low as 4%. Selling the gold privately you will get spot minimum + premiums depending on the coin type.

3) Pretty much the same as point 2.

When it comes to gold lots of people have concerns and opinions but very few have actual experience of buying and selling and its really not complicated or difficult.

Dealing in bullion gold has nothing in common with designer handbags or other luxury items.

bery_451

chrisgg wrote: »

Probably easier to just buy a gold ETF.

I understand ETF's are more convinient however its a
IOU's as the gold/silver is not in your possession so its a risk.

bery_451

Glen_Clark wrote: »

I'm happy with the prices I got trading sovereigns over the counter at Blackpool https://www.chards.co.uk/ The most time consumng part was all the rigmarole to prove your identity for them to pass on to the Inland Revenue.

Ok.so most vendors/sellers are obliged to pass on the buyer details and transaction amount to the inland revenue.

Over what amount of gold or silver that needs to be declared to inland revenue?

markj113

You only need to provide I.D if you spend more than £5k in one transaction or £10k a year with a single dealer.

Information is also not passed to the inland revenue as a standard practice.

jamei305

bery_451 wrote: »

I understand ETF's are more convinient however its a
IOU's as the gold/silver is not in your possession so its a risk.

Greater than the risk of gold in your possession being lost or stolen?

markj113

Considering Comex are leveraged over 500 paper oz's to 1 oz of real gold ill take my chances and hold the real thing.