Advice for newbies' investment in bullion

magn8p

Thanks for sharing your valuable views. Your views vary slightly from other members on this thread, it's good to have as much diverse views as possible.

I like the idea of buying in bulk from GoldCore. I wish I knew that before buying a 1 Kg silver bar from Atkinsons with 20% VAT as it seemed sensible after analysing that paying the premium on small coins/bars would be more expensive than paying a flat 20% VAT for a KG bar - I didn't buy it to speculate though, it's going to be with me for a long time as I see silver very undervalued at £10.5/oz. But then if I can get coins at a good rate, I would always prefer them.

Are there other places apart from GoldCore that you shop for bullion? Is there an aggregator or a comparison site for bullion purchase?

Many thanks!

Flobberchops wrote: »

I don't have much of an opinion on gold. I bought some earlier this year in Hatton Garden Metals and found them professional and competitive.


Silver: CGT may not be very much of an issue but don't forget the prohibitive VAT added to UK bullion. As somebody mentioned previously, recognisable coins have the benefit of being a lot easier to sell, which will surely become a consideration at some point unless you become a collector, and that's why I like Silver Britannias. There are a few good reputable European silver sellers which allow you to buy UK, CGT-free silver without VAT - for example, I recently used Irish outfit Goldcore to buy 75 Britannias for £13.34 each. The equivalent order with Atkinson would cost £16.87 per coin. A big difference!



Yes, silver is bulky compared to gold but that also makes it more difficult to steal! It's a speculation rather than an investment but it's really quite cheap at the moment.

BudaSteph

There's a full article about how to buy silver coins in UK without paying VAT
(just google it & look for the CoinsUK uk article link) lots of info there

Basically - aim to deal directly with 'trusted' private sellers, or smaller UK coin dealers, part time dealers, stackers etc - who do not need to register and thus charge vat. If you buy from a big UK dealer, the 20% VAT you pay will be immediately wiped out when you come to sell.

It's ok buying silver, but you need to be very aware of how and where to re-sell it!

Hope the guide and info helps, silver stackers

ColdIron

Welcome, new user
Thanks for the info, ;). I especially appreciated the apostrophes surrounding your reference to 'trusted' private sellers. You can be assured that I will seek out your article 'link'

So a one ounce silver coin still has the same value as a Big Mac Meal for three