Best ways to hold precious metals

George_Michael

markj113 wrote: »

In theory yes, but you can get 1kg "coin bars" as a work around.




Premiums are still higher than gold but buying silver from the below companies is much cheaper than sourcing silver in the UK and paying VAT.


Worth checking out :


https://goldsilver.be/en/

https://www.europeanmint.com/

From the links provided:
https://goldsilver.be/en/kilo/548-silver-bar-1-kilo-bu-minted-perth-2007.html
1KG silver bar for £485.71 + £11.21 delivery giving a total price of £496.92


Or you could buy it from the UK inclusive of VAT and next day delivery for £495.84
https://www.bullionbypost.co.uk/order/

short_butt_sweet

George_Michael wrote: »

From the links provided:
https://goldsilver.be/en/kilo/548-silver-bar-1-kilo-bu-minted-perth-2007.html
1KG silver bar for £485.71 + £11.21 delivery giving a total price of £496.92


Or you could buy it from the UK inclusive of VAT and next day delivery for £495.84
https://www.bullionbypost.co.uk/order/

if you gold bugs are as anti-government as many of you claim to be, wouldn't you prefer the more expensive option, because that involves paying less tax?

Raul91

I would like to buy a kg of silver from here: physicalgold.com/1-kilo-silver-bar/


I will pay 480 pounds incl vat for 1kg. If I want to sell it I will get 360 pounds this is 120 pounds loss instantly is this right? Selling it to the same company physicalgold.com/sell-gold-silver-metals/


Can you please advise me on this as I am confused. I think it is like 360 plus vat which should make it 432 but it is still a 50 pounds loss compared to gold selling.

Joe_Bloggs

@Raul91
Clearly it's a mug's game. But you get the functionality of a paper weight which justifies the VAT.
J_B.

shaun_from_Africa

Raul91 wrote: »

I would like to buy a kg of silver from here: physicalgold.com/1-kilo-silver-bar/

I will pay 480 pounds incl vat for 1kg. If I want to sell it I will get 360 pounds this is 120 pounds loss instantly is this right? Selling it to the same company physicalgold.com/sell-gold-silver-metals

Which is why when selling silver bullion, it's far better to sell privately.
1KG bars sell on ebay for close to the VAT inclusive dealer selling price but you do lose the 10% fees.
https://www.ebay.co.uk/sch/i.html?_nkw=1kg+silver&_in_kw=1&_ex_kw=&_sacat=0&LH_Sold=1&_udlo=&_udhi=&_samilow=&_samihi=&_sargn=-1%26saslc%3D1&_salic=3&_sop=12&_dmd=1&_ipg=50&LH_Complete=1

Gumtree or other similar sites would be ideal provided that you only accept cash payments, make sure that the cash is genuine and take some basic security measures when selling, something that you should do when selling any reasonably priced item in a face to face transaction.

Joe_Bloggs

shaun from Africa said:-

Which is why when selling silver bullion, it's far better to sell privately.

This is the same as finding someone else as gullible as yourself to reverse the original purchasing mistake / investment.



J_B.

shaun_from_Africa

Joe_Bloggs wrote: »

This is the same as finding someone else as gullible as yourself to reverse the original purchasing mistake / investment.

J_B.

It's only a mistake/miscalculation if what you receive for selling is less than your purchase price.

I sold just over 500 1oz silver Maples and US silver Eagles and all were sold at a very good profit.
This was because I purchased them mainly from Germany when their VAT rate for silver bullion was 5% and some from the USA where there is no sales tax on bullion.

Even now with the poor $/£ exchange rate, you could still make a small profit buying in the USA when on holiday and selling privately in the UK provided that when you bring them into the country you don't go above your £370 import limit.
I agree that it's not really worth the effort now but when the exchange rate was close to $2 to £1, a nice profit was easy to make.

Joe_Bloggs

@shaun from Africa
Clearly you are a metals entrepreneur with considerable expertise.


I am in the market for tungsten shot and tungsten sheet (AKA Wolfram). Can you recommend any suppliers ? There are lots of golfing based tungsten shot products on Amazon. The price is too high and it does not decrease with volume.
J_B.

shaun_from_Africa

Joe_Bloggs wrote: »

@shaun from Africa
Clearly you are a metals entrepreneur with considerable expertise.

I am in the market for tungsten shot and tungsten sheet (AKA Wolfram). Can you recommend any suppliers ?.

I'm afraid not. Personal silver and gold buying and selling only and my only experience with tungsten is using it as a riveting block.