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

Farmer_Johnson

bery_451 wrote: »

Ok coming back to this thread a year later is there anything thats needs be added or mentioned? Previous Links in this thread are all legit sites or has there been any changes?

What it is that I was speaking to one of my neighbours about these metals and they saying they like to buy as they believe another economic recession/depression is due upon us soon. They believe the dodgy bankers will use the brexit as a cover excuse that will start the next global financial crash.

Wheres the cheapest places now to buy gold/silver nearest to the market price and which gold/silver ETF's are trustworthy audited?

There's no getting away of paying VAT on silver then? Can someone go abroad and buy silver VAT free and bring it back to UK?

Your neighbour sounds to be. Abit of a conspiracy theorist. Banks and bankers do not want a crash.

George_Michael

bery_451 wrote: »

If that is the case then why buyers buy silver + vat from this country when instead they can save 20% from tax when buying from EU?

Because the price for the silver without VAT is often the same or higher than the UK VAT inclusive price.
Have a look at post #52 here:
https://forums.moneysavingexpert.com/discussion/5896929silver&page=3#52


1KG silver bar VAT free delivered to the UK is £496.92


1KG silver bar VAT inclusive delivered from a UK seller is £495.84

markj113

best way to buy silver is from the EU.


Goldsilver.be are about the cheapest.


there is also:
https://www.europeanmint.com/
https://www.silver-to-go.com/en/

bery_451

Farmer_Johnson wrote: »

Your neighbour sounds to be. Abit of a conspiracy theorist. Banks and bankers do not want a crash.

As we live in a so called free country called the UK they have the right to believe whatever they want so I can't argue with them. If they lived in north korea for example where everyone will be forced to believe what the govt their wants them to believe in. So in they wanna believe in conspiracy theories then let them.

Can we get back to the topic please. No more off topic discussing conspiracy theories lol.

bery_451

George_Michael wrote: »

Because the price for the silver without VAT is often the same or higher than the UK VAT inclusive price.
Have a look at post #52 here:
https://forums.moneysavingexpert.com/discussion/5896929silver&page=3#52


1KG silver bar VAT free delivered to the UK is £496.92


1KG silver bar VAT inclusive delivered from a UK seller is £495.84

Really just a £1 difference in price? Ok so you recommend to buy within UK then if that is the case? If so which websites you recommend in 2018 are the cheapest and reliable?

bery_451

dont_use_vistaprint wrote: »

I have bought silver bullion in cash converter shops much cheaper than online, it depends which coins you want , some are more collectable and shops will negotiate especially just before month end. You can also get silver at auctions at a good price if they are large items with minimal design like simple spoons, trays, plates. Its more for fun and as gifts as as the price is so low, not a serious investment strategy.

I dont fully understand the VAT issue regarding holding physical metals yourself vs in a vault. Maybe someone else can explain.



Isn't this what professional investors do ? by metals when markets go down

Did you get from cash converters site or local branch?

I have a cash converters not far off from here however I doubt they will stock bullion coins or do all cash converter branches have bullion coins for sale?

markj113

George_Michael wrote: »

Because the price for the silver without VAT is often the same or higher than the UK VAT inclusive price.
Have a look at post #52 here:
https://forums.moneysavingexpert.com/discussion/5896929silver&page=3#52


1KG silver bar VAT free delivered to the UK is £496.92


1KG silver bar VAT inclusive delivered from a UK seller is £495.84

You do realise that bars do not get the same discount as coins when buying in the EU.


e.g. cheapest 1oz coin = £13.74


X 32.15 = 441.74


Saving approx just over £50 per kg.

bery_451

markj113 wrote: »

You do realise that bars do not get the same discount as coins when buying in the EU.


e.g. cheapest 1oz coin = £13.74


X 32.15 = 441.74


Saving approx just over £50 per kg.

Ok the bars works out to be cheaper than coins and a better investment?

Flobberchops

bery_451 wrote: »

Ok the bars works out to be cheaper than coins and a better investment?

Vice versa!

Look, it's as simple as going to the sites suggested, plugging in some values and seeing what the prices are. This idea that shipping from outside the UK will completely negate the VAT saving is naive.

Example (all amounts rounded to nearest pound)

Belgium: 75 ounces 2019 silver Britannias from Goldsilver.be = £1040 (ASSUMING you can convert Sterling to Euro at spot or have a Euro bank account)
Ireland: 3x25 ounce tubes silver Britannia (18? 19?) from Goldcore = £1063, free shipping
UK: 75 ounces investment grade 2019 Britannias from Chards = £1269 including £28 shipping

If I had about a grand to invest in metals I know which one I wouldn't choose.

The advantage of buying UK legal tender bullion (hence the Britannias used in the example above) is that if/when you sell, there are no capital gains taxes to be paid.

Penn_Wooding

I bought four £5 gold coins about three or four years ago from Bullion by Post and they cost me about £4332. If I was to sell the coins back to Bullion by Post going by the gold prices today I will probably make about £132 in profit. So if you are going to buy gold then expect to get any decent profit for quite a few years, unless you can buy at the exact gold price of the day.

I found that some of the companies that sell gold will give you a decent price if you sell their own gold back to them but if you sell gold that was bought from them they don't give you as much money. However, there are probably some companies that will pay closer to the current gold price but I've not found many myself. They have to make money at the end of the day.